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When the history books are written, and the documentaries are made on the formative days of NFTs, Jimmy McNelis, aka j1mmy.eth, will hold a special place in history as a creator, as a passionate advocate, and for having one of the greatest NFT collections of all time. 

An NFT OG who started his journey on Dec. 5, 2017, when he purchased his first CryptoKitty, the 45-year-old American is also the founder of Avastars, an early PFP project from February 2020 that set the scene for intellectual property (IP) rights being given to holders. 

That was popularized by Bored Ape Yacht Club and the 2021 PFP mania that saw IP rights for holders becoming the standard for most projects. Avastars was also a pioneer in putting the project on-chain, inspired by Autoglyphs, which minted 10 months earlier. 

J1mmy also has an almost unrivaled NFT collection worth around $150 million at the peak. The astonishing collection includes eight Autoglyphs, 19 Chromie Squiggles, 30 Bored Apes, five CryptoPunks, 11 Gazers, 61 Meebits, 114 CyberBrokers and a Twin Flame by Justin Aversano. 

“At its peak it was about $150 million. Whether or not that was actually liquid but $150 million was on one of the wallet portfolio sites. Today, it’s probably 1/10th of that,” says j1mmy. 

“One thing that I maybe don’t do a good enough job really talking about is the collector aspect of my NFT journey and the art collector that I am as well. I believe that I have one of the best art collections in existence.” 

“I see a lot of funds out there trying to recreate essentially what I already have and what other people already have as well, but to a lesser extent. I used to have 30 Autoglyphs but still have held onto eight of them. If you use those as an example, if a fund owns one single Autoglyph, that’s considered pretty significant.” 

Not afraid to speak his mind as a key voice in often heated debates, j1mmy has also been one of the biggest advocates for creator royalties, watching what was once a key value proposition of NFTs fall by the wayside in recent times. Whether pro royalties, on-chain champion or defending IP rights, j1mmy doesn’t mind a debate while keeping perspective as a new husband and dad. 

“I’ll be the angry old man yelling at a cloud meme. At the end of the day, I hope people understand that I’m very passionate about this stuff, that should be very obvious to everybody at this point,” says j1mmy. 

“I love debating, so sometimes I’ll start an argument,” he admits. “I love hot takes because it’s interesting and not just agreeing with everybody and WAGMI and all that shit. All of this, I hope, leads to evolution of what we’re doing. I want us to evolve. I want us to continue to improve, and I think that’s the point of all this.” 

Avastars – The project for the future 

Avastars, j1mmy’s pride and joy as a creator, is often overlooked for the role it played in an array of different areas, including being arguably the first true intentional PFP project (Punks were an experiment at the time of mint), being on-chain and giving IP rights to holders.

Inspired by j1mmy’s frustration of discovering his CryptoKitties collection wasn’t stored on-chain and by Larva Labs Autoglyphs, which was the first generative art stored fully on-chain, Avastars was born in February 2020. 

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According to j1mmy, he saw it as a hybrid of CryptoKitties and CryptoPunks with their ability to create replicants. 

Avastar #141 - J1mmy's PFP
Avastar #141 – J1mmy’s PFP (OpenSea)

“To me, they [CryptoKitties] had made a huge mistake right from the beginning, and it set a bad precedent. I was out there trying to fight that precedent so when the time came, we would have on-chain NFTs, and people like Elon Musk couldn’t say, well, they’re all fucked because they’re not stored on the blockchain.” 

“I was literally anticipating the comments about NFTs from Musk on Rogan in January and February 2018. It was so ridiculous. You mean to tell me we have this blockchain and we have these NFTs, and we’re not storing the information on the blockchain? That’s the stupidest shit ever.”

J1mmy does feel strongly that his Avastars project is underappreciated.

“Avastars is still a better NFT project than 99% of the stuff out there. Technically speaking and historically speaking. To be honest, the only project that I really feel like is a spiritual successor to Avastars is CyberBrokers.

J1mmy’s mouth-watering NFT collection 

The collection is enough to make an NFT collector drool in awe, including pieces from just about every big artist in the space, including XCOPY, Beeple, Matt Kane, Snowfro, Hackatao, Josie Bellini and one of his personal favorites, Australian VR artist Giant Swan, who j1mmy commissioned to do a work to commemorate his wedding to wife, sunrise.eth

The 11-32 Absent-Express by Giant Swan
The 11-32 Absent-Express by Giant Swan – collected by j1mmy (OpenSea)

But unlike some of his collector contemporaries who focus primarily on art-only NFTs, j1mmy enjoys collecting and trading PFPs and other interesting projects. He once minted 420 Bored Apes alongside his good friend and well-renowned trader, Pranksy, which helped set the BAYC mint on fire, and the rest is history. 

“I have a really, really ridiculous NFT collection. I have three wallets now that I collect from — my original j1mmy.ETH, my vault wallet and my cold wallet. That’s where I basically hold all of my Ethereum NFTs. I think of it as a giant NFT mutual fund, just my own personal collection,” j1mmy says. 

“I hope one day that I link up with an institution that wants to put my stuff on display because I think I have a really interesting collection that could be curated into quite a museum exhibit. The history of NFTs or something of that nature basically.” 

Many of the NFT collector DAOs and funds like Flamingo DAO and Curated are very deliberate in their approach, but for j1mmy, the majority of his collection was sparked from sheer curiosity. 

“There’s so many things in my wallets, I don’t even have a handle on it at this point. My NFT collection is so extensive, I’ve forgotten so many things that I’ve minted,” j1mmy says.

Inside the mind of a top-tier NFT collector and trader 

J1mmy’s top collecting and trading tip is to treat the market as being based on sentiment, not on reality. 

“This is a sentiment based like economy right now. Everything right now is unfortunately not rooted in reality. Value is not rooted in reality. It’s based on sentiment and how people feel so the key to trading is to understand people’s feelings and how close they are to changing those feelings,” says j1mmy. 

“Trying to read that sentiment and selling to people while the sentiment is really high is important and not being the last one. It’s a game of musical chairs sometimes. That could be a short-term game of musical chairs. Prices go down, prices go up. The one constant is, prices don’t stay the same. That’s the one constant that I constantly remind myself of.” 

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Similar to the great Warren Buffett quote, “Be fearful when others are greedy and be greedy when others are fearful”, j1mmy has a similar philosophy to his NFT buying and selling. 

“My approach is when everybody else is buying, I want to be selling and when everybody else is selling, I want to be buying. It’s not an original strategy, I’m pretty sure it’s a Warren Buffett-like saying. I just apply that to NFTs,” he says. 

“I was a buyer during the 2020-22 bull market but I also sold some stuff too. During this bear market, I actually spent all my ETH. I’ve been a consistent buyer during this bear but just more selectively this time.” 

From zero to hero 

J1mmy reflects that his NFT journey has been truly enriched by still being surrounded and supported by a group of friends with curious minds from the early CryptoKitties days. Their mantra was they were either going to spend all of their money on CryptoKitties, and it’ll go great or not so well. 

Ironically, it wasn’t CryptoKitties itself that worked out but the lessons they took from those days that put them in a strong position to capitalize on the 2020-22 bull run. 

“It’s extremely satisfying to sit back and see where we are today versus where we were. We talked about zeros or heroes in 2018. A few of us ended up being heroes with NFTs, it didn’t end up being necessarily with CryptoKitties but we shot our shot, and came out on top,” j1mmy says. 

“It’s really great to have gone through that with a group of people and not alone. Being successful is often a solo journey. We all went in our own directions, but having the camaraderie and the peers to succeed alongside of has been really the most rewarding part of all this.”

“I’m very grateful for the entire space, all of the creators, all of the community, everybody around. It’s been the best years of my life so far and I’m looking forward to what’s to come.”

Rapid fire Q&A

Favorite art NFT you own? 

“My favorite one of one is my Twin Flames #19 by Justin Aversano. I’ve got the two punk rock twins.”

Twin Flames #19 by Justin Aversano
Twin Flames #19 by Justin Aversano – collected by j1mmy (OpenSea)

Favorite NFT in your total collection in general? 

My Avastar #141, which is my PFP.”

Are you still in Flamingo DAO? 

“I am. I just recently put that back into my Twitter profile because I didn’t think people recognized that I was a part of it. I traded an Autoglyph to get into Flamingo. That turned out to be one of my best trades, even though it was a really rare Autoglyph. I traded an NFT, and now I own nearly 1% of one of the best collections in the space. Flamingo definitely rivals my own collection.” 

What do you think is an undervalued or underappreciated NFT project right now?

“My answer is CyberBrokers. The level of detail, the extreme cost of putting all that stuff on-chain, and their continued building efforts are pretty incredible. The whole experience as a participant in CyberBrokers has been even better than that of Yuga Labs from an execution standpoint.” 

“I think I have put more raw ETH into that than any other individual project and if I’m wrong about that one being a huge success on the market, then so be it. I still own all of this amazing on-chain art.” 

CyberBrokers
CyberBrokers (X)

What’s your advice to someone that’s just discovering NFTs today?

“This is one reason I really love Gary Vee. He’s a polarizing figure at times, but he gives really good advice I think, generally speaking. One of those things that he was telling people in 2021 was to do 40 hours of research before you make any purchases. I would even double that at this point. I would say spend a month or two learning what all this is before you decide that you’re going to put anything into this.”

“It’s easy for me to say now from where I sit, but I also wouldn’t go into this with the expectation of profiting right away. The other thing I would caution is, pay very close attention to how taxes work.” 

What’s the best Art Blocks project? 

“I think Gazers is the best Art Blocks project by far. Matt Kane is an incredible artist, and he’s flexed his muscle on Art Blocks like no one else has. I’m still trying to find displays where I can actually see his artwork every day. He created something so cool that there’s not an easy solution here.” 

Gazer #462 by Matt Kane
Gazer #462 by Matt Kane – collected by j1mmy (OpenSea)

What advice would you give to j1mmy just before he purchased his first CryptoKitty back in December 2017? Would you do anything different? 

“Fuck no man. I would not give myself any advice because I needed to go into this with blind ambition like I did. I needed to misunderstand what CryptoKitties were to think that they were on-chain because if I hadn’t, I would have never created Avastars.”

“You know, naivety is sometimes our greatest gift, and ignorance is bliss. Truly, with NFTs, I went in far too heavy, far too deep and far too hard, and look where I’m at today. It’s not often in life that overindulgence pays off, but in this case it did for me, It’s one of those rare situations where I wouldn’t change a damn thing.”

Links:

X: twitter.com/j1mmyeth

Avastars website: avastars.io/

Greg Oakford

Greg Oakford

Greg Oakford is the co-founder of NFT Fest Australia. A former marketing and communications specialist in the sports world, Greg now focuses his time on running events, creating content and consulting in web3. He is an avid NFT collector and hosts a weekly podcast covering all things NFTs.

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Crypto influencer found dead in Montreal park months after abduction

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Crypto influencer found dead in Montreal park months after abduction

A 32-year-old woman has been charged with murdering Mirshahi. However, it isn’t confirmed whether the case has ties to his involvement with crypto. 

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Assisted dying opponents believe they have the momentum – as Streeting criticised for ‘overstepping the mark’

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Assisted dying opponents believe they have the momentum - as Streeting criticised for 'overstepping the mark'

Labour MPs who are opposed to legalising assisted dying believe the momentum is swinging behind their side of the campaign, Sky News has learnt.

MPs are currently weighing up whether to back a change in the law that would give terminally ill people with six months to live the choice to end their lives.

At a meeting in parliament on Wednesday, Sky News understands Labour MPs on the opposing side of the argument agreed that those who were undecided on the bill were leaning towards voting against it.

One Labour backbencher involved in the whipping operation for the no camp told Sky News: “The undecideds are breaking to us, we feel.”

The source said that many of those who were undecided were new MPs who had expressed concerns that not enough time had been given to debate the bill.

“They feel they are too new to be asked to do something as substantive as this,” they said.

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Issues that were being brought up as potential blocks to voting for the legislation include that doctors would be able to suggest assisted dying to an ill patient, they said.

The source added: “We were elected to sort the NHS out rather than assisted dying.

“And there is no going back on this – if any doubt, you should vote it out.”

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Labour MP Kim Leadbeater discusses End of Life Bill

The Terminally Ill Adults (End of Life) Bill, put forward by Labour MP Kim Leadbeater, is due to be debated on 29 November, when MPs will be given a “free vote” and allowed to vote with their conscience as opposed to along party lines.

In a recent letter to ministers, Cabinet Secretary Simon Case said the prime minister had decided to “set aside collective responsibility on the merits of this bill” and that the government would “remain neutral” on its passage and the matter of assisted dying.

There has been much debate about the bill since its details were published on Monday evening, including that the medicine that will end a patient’s life will need to be self-administered and that people must be terminally ill and expected to die within six months.

Ms Leadbeater, who has the support of former government minister Lord Falconer and ChildLine founder Dame Esther Rantzen, believes her proposed legislation is the “most robust” in the world and contains safeguards she hopes will “reassure” those who are on the fence.

They include that two independent doctors must confirm a patient is eligible for assisted dying and that a High Court judge must give their approval.

The bill will also include punishments of up to 14 years in prison for those who break the law, including coercing someone into ending their own life or pressuring them to take life-ending medicine.

She has also argued the fact terminally ill patients will have to make the choice themselves and administer the drugs themselves “creates that extra level of safeguards and protections”.

However, several cabinet ministers – including Health Secretary Wes Streeting and Justice Secretary Shabana Mahmood, who would be responsible for the new law – have spoken out against the legislation.

Mr Streeting, who has said he intends to vote against the bill owing to concerns that people might be coerced into taking their own lives, announced a review into the potential costs of assisted dying if it is implemented.

The health secretary warned that a new assisted dying law could come at the expense of other NHS services – and that there could be “trade-offs” elsewhere.

Sky News understands Ms Leadbeater has said she is “disappointed” by Mr Streeting’s comments about the bill.

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Tory MP: ‘Impossible’ for assisted dying bill to be safe

And another Labour MP who is voting for the legislation told Sky News they believed Mr Streeting had “overstepped the mark”.

“I think it’s a bit of a false exercise,” they said.

“It’s definitely going to raise eyebrows – it’s one thing to sound the alarm but he is purposefully helping the other side.”

The MP said that while it did feel “the momentum is moving away from us, a lot of it will come down to the debate and argument in the chamber”.

“Some of the scaremongering tactics might backfire,” they added.

“It’s still all to play for but it’s undoubtedly true the other side seems to be making headway at the moment.”

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A source close to Mr Streeting told Sky News: “Wes has approached this issue in a genuine and considerate way, setting out his own view while respecting others’ views.”

As a private member’s bill that has been put down by a backbencher rather than a government minister, the legislation will not receive as much time for consideration as a government bill – but proponents say it can always be amended and voted down at later stages.

At Prime Minister’s Questions on Wednesday, Tory MP Sir Alec Shelbrooke questioned whether enough time had been set aside to debate the bill and urged Sir Keir Starmer to allow two days, or 16 hours, of “protected time” to “examine and debate” the legislation before the vote.

Sir Keir replied: “I do think there is sufficient time allocated to it but it is an important issue.”

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Assisted dying: Wes Streeting orders review into potential costs of changing the law

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Assisted dying: Wes Streeting orders review into potential costs of changing the law

Health Secretary Wes Streeting has ordered his department to carry out a review of the costs of potentially changing the law to legalise assisted dying.

Mr Streeting, who intends to vote against a landmark bill on the issue, has warned that a new assisted dying law could come at the expense of other NHS services if it is implemented.

It comes as MPs weigh up whether to vote for a change in the law when given the opportunity to do so later this month.

The Terminally Ill Adults (End of Life) Bill, put forward by Labour MP Kim Leadbeater, would give terminally ill people with six months to live the choice to end their lives.

There has been much debate about the bill since its details were published on Monday evening, including that the medicine that will end a patient’s life will need to be self-administered and that people must be terminally ill and expected to die within six months.

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Ms Leadbeater, who has the support of former government minister Lord Falconer and ChildLine founder Dame Esther Rantzen, believes her proposed legislation is the “most robust” in the world and contains safeguards she hopes will “reassure” those who are on the fence.

More on Assisted Dying

They include that two independent doctors must confirm a patient is eligible for assisted dying and that a High Court judge must give their approval.

The Labour MP has argued the fact terminally ill patients will have to make the choice themselves and administer the drugs themselves “creates that extra level of safeguards and protections”.

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MP discusses End of Life Bill

However, several cabinet ministers – including Mr Streeting and Justice Secretary Shabana Mahmood, who would be responsible for the new law – have spoken out against the legislation.

Announcing the review, Mr Streeting said: “Now that we’ve seen the bill published, I’ve asked my department to look at the costs that would be associated with providing a new service to enable assisted dying to go forward, because I’m very clear that regardless of my own personal position or my own vote, my department and the whole government will respect the will of parliament if people vote for assisted dying.”

Ms Leadbeater has said she is “disappointed” with Mr Streeting’s comments – telling The House magazine the health secretary’s comments “suggest he hasn’t read the bill”.

While the health secretary has warned of the potential cost downsides for the NHS, his critics have pointed out there may be potential savings to be made if patients need less care because they choose to end their own lives – something Mr Streeting branded a “chilling slippery slope argument”.

“I would hate for people to opt for assisted dying because they think they’re saving someone somewhere money – whether that’s relatives or the NHS,” he said.

“And I think that’s one of the issues that MPs are wrestling with as they decide how to cast their vote.

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‘Impossible’ for assisted bill to be safe

“But this is a free vote – the government’s position is neutral.”

Speaking to reporters after delivering a speech to the NHS Providers conference in Liverpool, Mr Streeting said there were “choices and trade-offs” and that “any new service comes at the expense of other competing pressures and priorities”.

“That doesn’t mean people should vote against it on that basis,” he said.

“People need to weigh up this choice in the way that we’re weighing up all these other choices at the moment.”

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MPs will debate and vote on Ms Leadbeater’s Private Member’s Bill on 29 November, in what will be the first Commons vote on assisted dying since 2015.

The government has given MPs a “free vote” on the issue, meaning they will be able to vote according to their conscience and without the pressure to conform to party lines.

In 2015, a bill by former Labour MP Rob Marris that would have made it legal for the terminally ill to end their lives was defeated in the Commons by 330 votes to 118.

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