A "Little Crazy" in Crypto: CoasterPunks’ Will Pemble Shares Thoughts on NFT Utility and Volatility
By Kathy Chu, TruthDAO
Will Pemble made his mark in the early days of the Internet by building Web.com, one of the first domain name registrars in the world.
Now he hopes to make his mark in the crypto world through his CoasterPunks project. During a June 9 interview on TruthDAO's "Crypto DeFined,"available on Fireside, Pemble spoke about his plan to have non-fungible tokens (NFTs) crowdfund a space-themed rollercoaster called Moonshot, an educational television series about the project, as well as a 120,000-watt solar farm.
Here are Pemble’s top 5 quotes (edited for clarity):
Why he’s financing a rollercoaster with NFTs: The idea of the NFT was, let’s see if we can fund this thing and let’s see if we can leverage the following, the reputation, the community that I’ve built accidentally over the last decade…The CoasterPunks NFT will have some cool utility. But technically speaking, it’s not an investment. I do think it’s a collectible.
The NFT world is highly volatile: My advice is, don’t invest or spend any more money than you would be comfortable setting on fire. You could lose all of it. This is a brand new, unpredictable environment, and it’s highly volatile.
NFTs should be useful: What I believe an NFT should be is 20% NFT, and 80% project, 80% real stuff that happens in the real world that we can talk about, gather around, discuss, benefit from.
‘Little crazy’ in crypto: The rules of sound business decision making are a little bit suspended in the crypto space. There’s a little crazy. There’s a little speculation. People have a much, much higher tolerance for risk.
Blockchain technology will advance: I personally believe that five years from now, when one sells a house, that transaction will likely be recorded on some blockchain. Deeds will likely be an NFT. Title searches will likely be performed using that technology. It’s faster so it takes seconds instead of days.
You can watch a replay of the full interview here.