Tech
Beyond the hoodie: Why tech bros have money but nothing to wear, according to Gmoney
Aesthetics is centered on the concept of “crypto crowd” and was developed with 9dcc’s creative director, who prefers to remain anonymous but has worked for brands including Calvin Klein, Oscar de la Renta and Prabal Gurung, as well as music artists Janet Jackson and Steve Aoki and Web3-focused labels. Gmoney, who worked in the traditional financial sector (and who long kept his identity hidden behind a Cryptopunk PFP), says he grew up watching films like The Godfather, Goodfellas and Boys in the Hood, which romanticize organized crime. . While the cryptocurrency world doesn’t glorify rule-breaking, he is quick to say that he has become known for rethinking rules around banking, data sharing and transparency. “When I think of cryptocurrencies, I think of people who think outside the box, play the edge and take risks. Those things are some key components and traits that describe someone in the cryptocurrency world at this point.”
He adds that the community, while briefly lauded and chased by luxury due to its high spending power and cultural phenomenon, is now struggling to rise above the din of skeptics who associate blockchain-based technologies with the dark web, to tax evasion or other criminal means. . Cryptocurrencies and their supporters are still largely misunderstood, he says. The Arrest and Conviction of FTX Founder Sam Bankman-Fried — who is now headed to prison due to seven counts of fraud and conspiracy, it didn’t help. Not even the collapse of the value of ETH. For those new to the industry and less resistant to dramatic fluctuations, cryptocurrencies might simply seem like the new tulip craze. Gmoney points out that there is still money in cryptocurrencies. “Both Bitcoin and ETH just hit 52-week highs. Their spending power is expected to grow significantly.”
The full 9dcc collection will be revealed later this week in Paris during the third Paris NFT Conference. When attendees enter the Grand Palais, they will be greeted by a 9cc pop-up space that will showcase the works. Prices have yet to be announced, but the team lowered them at some point, Gmoney says, adding that he hopes people are happy with the revised prices. (His inaugural T-shirts cost about the equivalent of $500 at the time of sale.) In a change to his original business structure — whereby only the 800 or so people who own one of his Admit One NFTs could purchase 9dcc pieces on the marketplace primary (some wallets have more than one) — the new collection will be available to everyone via e-commerce and the Paris pop-up.
Evolution of the business model
9dcc launched in August 2022 with a black tee that collectors could acquire through an elaborate drop system; Gmoney had just made waves by teaming up with Adidas for its first NFT release, and in preparation for 9dcc, it gave away the 1,000 Admit One NFTs seen as access passes to purchase its products. At the time, cryptocurrency collectors were still capitalizing on ETH’s record valuations, and some people flipped their Admit One NFTs for five-figure profits. The floor price (the lowest price for any NFT in a given collection) in February was around $2,000.