An NFT Juggernaut Approaches

Larva Labs, the CryptoPunks and Autoglyphs creators, are reportedly working on a 3rd NFT project 💎

Apr 27, 2021

Metaversal is a Bankless newsletter for weekly level-ups on NFTs, virtual worlds, & collectibles

Dear Bankless Nation,

Larva Labs, a software company teamed by Matt Hall and John Watkinson, has ascended to legend status in the NFT ecosystem for creating groundbreaking projects like CryptoPunks and Autoglyphs.

Of course, CryptoPunks inspired and popularized today’s dominant ERC-721 NFT standard, and Autoglyphs enjoys the status of being Ethereum’s first iconic on-chain generative art. Accordingly, Larva Labs has not one but two all-star NFT projects to their name — a clear testament to the duo’s major talents and creativity.

This esteem is why people are starting to get really excited, as word has it that Larva Labs is currently working on its next NFT project!

This is a huge deal, so let’s break it down a bit in today’s Metaversal 👇

-WMP

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The Return of Larva Labs

Larva Labs is riding high right now after their flagship NFT projects have aged into more than smash hits in the cryptoeconomy — they’re now rather all-out cultural phenomena whose influence is starting to reach well beyond just crypto.

This is why it’s increasingly the case that people don’t view Punks and Glyphs as merely tradable NFTs.

Instead, more and more folks are starting to see these particular NFTs as digital artifacts with major cultural significance. Why? Because they’re memetically charged with trailblazing and masterful execution atop a young Ethereum, which may go down as one of humanity’s greatest achievements in the 21st century, and this memetic charge — and the demand it’s producing — is growing.

For example, consider that one CryptoPunk is now worth more than one bitcoin as of this week, or that a group of Punks are being sold at prolific mainstream auction house Christie’s next month. As for Autoglyphs, the current Glyph price floor on OpenSea is 90 ETH!

So it’s certainly safe to say Larva Labs’s work is commanding unprecedented levels of interest. That’s why many NFT users snapped to attention last week when Kevin Rose, a partner at True Ventures and the host of Modern Finance, tweeted out that he was amazed by a preview of a new Larva Labs NFT project.

KΞvin Rose @kevinrose

🤯Well... I just got an early preview of the next NFT project coming from @larvalabs (founders of #cryptopunks) OMG... just your ETH ready...

That’s all we have to go on for now, which isn’t much, but knowing Larva Labs and their impressive legacy we don’t need much to start getting seriously excited.

Indeed, even with scant info it’s no stretch to say that this project’s release and ensuing activity would be poised to be the seminal NFT happening of 2021 if it is, in fact, released this year.

In the meantime we can only speculate and, like Kevin Rose suggested, prepare our ETH. So the takeaway here is this: the 3rd Larva Labs NFT project is as compelling as any you could track on your personal radar in the days and weeks ahead. If we know anything, it’s that tons of fun and possibilities await!

thefunnyguys @thefunnyguysNFT

I think @larvalabs' new project will take the experience of owning a punk to a next level. Something like @punkbodies but even more innovative @kevinrose spent $350K on a punk after seeing a preview Combined with the upcoming @ChristiesInc auction, punks are probs undervalued

Action steps

☑️ Head to the Larva Labs Twitter account and turn on post notifications so you can stay up to date on all the team’s announcements.

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Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

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