Thao Tran – Market Making Illiquid, Non-Fungible Assets (S7E14)

Bullish:

• $NFT - Thao sees an edge in NFT market making, leveraging technological advantages to profit from less sophisticated retail buyers interested in non-financial aspects of NFTs.

  • “Our initial edge would be technology. Our counterparties set it out as people who just wanna own NFT for the non financial aspect of it.”

    Thao·27:01
• $DEX - Thao observes improvements in decentralized exchange technology, efficiency, and collateral management, indicating a positive outlook for DEXs.

  • “We see a lot of tools and platform that help us reduce market inefficiency and also capital inefficiency. We see new ways collateral is being managed and how people actually move their trading on chain.”

    Thao·35:14

Bearish:

• $CEFI - Thao notes a shift in price discovery from centralized exchanges to on-chain platforms, potentially challenging the dominance of centralized exchanges.

  • “On chain first price, like relationship has completely flipped for this specific set of things.”

    Thao·37:23
• $CRYPTO - Thao suggests that older crypto trading strategies, particularly those from two years ago, are no longer effective in the current market.

  • “Alpha from 2 years ago on very fundamental things just doesn't work anymore.”

    Thao·49:51