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Bridging NFTs to L2 🌉

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Bridging NFTs to L2 🌉

beeple’s NFT studio, Foundation Drops, Mango hacker’s NFT flips, & more!

William M. Peaster
Oct 14, 2022
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Metaversal is a Bankless newsletter for weekly level-ups on NFTs, virtual worlds, & collectibles


Dear Bankless Nation, 

Quix, the first NFT marketplace on the Optimism L2, opened up the Optimism NFT Bridge this week. 

The idea? Now you have the ability to bridge over and trade your Ethereum L1 NFTs on Optimism, where transaction costs are drastically lower than on mainnet. 

Twitter avatar for @DailyGwei_TV
DailyGweiTV.eth 🦇🔊🐼 @DailyGwei_TV
“The bridge allows users to trade Ethereum NFTs on Optimism, where the avg tx costs less than 20 cents in gas” 🔥 LIVE right now! @qx_app announces the Optimism NFT Bridge 🔴✨ Learn more about the release on today’s Daily Gwei Refuel! 👇🏻 youtu.be/YGG3Skrt0Gw
8:57 PM ∙ Oct 12, 2022
60Likes10Retweets

The NFT bridging scene is super early right now, so we’re still a ways off from seeing a lot of activity from migrating over. But in my mind, this is roundabouts the start of a new era for NFTs so keep your eyes on the bridges over the next couple of years!

Twitter avatar for @MSilb7
Michael Silberling 🔴✨ @MSilb7
Metric I'm following: What NFT collections will see > 20%, > 50%, etc of tokens migrated to L2? 👀 Dashboard by @chuxin_h dune.com/chuxin/optimis…
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3:45 PM ∙ Oct 13, 2022
12Likes4Retweets

In the meantime have a great weekend everyone! And as always thanks kindly for reading ✌️

-WMP


🙏 Sponsor: Upgrade to Bankless Premium to unlock our Ultimate Airdrop Guide! ✨


📣 General NFT News

  • CNN shuttered its Vault NFT series, leading to plenty of rug pull complaints and jokes. 

  • cygaar, ERC721A pioneer and Azuki collection dev, released an open-source library for subscription NFTs based on his EIP-5634 design. 

  • Foundation introduced Drops, a new resource for releasing big NFT collections and creating editioned packs of NFTs:

Twitter avatar for @foundation
Foundation @foundation
Introducing Drops. Designed by Foundation. Learn more and request early access. ↳foundation.app/drops
4:03 PM ∙ Oct 11, 2022
268Likes69Retweets
  • Mango Markets was hacked this week, and interestingly the attacker’s blockchain history suggests they have a history of prolific NFT flipping. 

  • Mason Keresty, the rediscoverer of Linagee Names, found what appeared to be an even older NFT project though wasn’t upon closer inspection.

  • Rainbow launched app notifications, including for NFT activities. 

  • Tessera facilitated the auctions of the first 100 Nounlets. 

  • Quix unveiled the Optimism NFT Bridge:

Twitter avatar for @qx_app
Quix 🔴✨ - Optimism NFT Marketplace @qx_app
Ready Layer Two! We are beyond excited to finally introduce the official @optimismFND NFT Bridge 🌉_🌉
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8:07 PM ∙ Oct 11, 2022
937Likes476Retweets

🏆 Digital Collectibles

  • Azuki introduced collector profiles.

  • CyberKongz topped up The Klaw, an on-chain claw machine game for the collection’s holders, with +300 ETH worth of NFTs.

  • Yuga Labs, the creators of the Bored Ape Yacht Club collection, are being investigated by the SEC over potential securities law violations. 

    • Yuga Labs also just kicked off its cryptopunks.app restoration effort. 

🎨 Cryptoart

  • beeple is building a digital art and NFT studio in Charleston, South Carolina.

  • SuperRare published How is cryptoart different from other NFTs?

🎮 Decentralized Gaming

  • Axie Infinity: Raylights, a mini-game for Axie land holders, is now live. 

  • Forgotten Runes Wizard’s Club unveiled details about the combat system of its upcoming Forgotten Runiverse game:

Twitter avatar for @dotta
dotta @dotta
Today we're releasing new details about the combat system in the Forgotten Runiverse game Unlike most other crypto games, Runiverse is fun-first and the combat system is one of the funnest parts Combat is dynamic, strategic, and rewarding - here's how it works: /⚔️
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6:14 PM ∙ Oct 10, 2022
441Likes134Retweets

💽 Music NFTs

  • sound.xyz helped 170 artists facilitate $3.5M worth of music NFT sales during its Season 3 campaign. 

🌐 Virtual Worlds

  • Decentraland estimated it currently has ~8,000 daily active users in response to a since-edited article that relied on limited data to wrongly claim the virtual world had only ~38 DAUs:

Twitter avatar for @decentraland
Decentraland @decentraland
The metaverse may still be a new place, but it certainly is not a lonely one. ❤️ Defining 'Active Users' in the metaverse can be tricky and varied approaches can result in the spread of misinformation. Let's dive into what this means👇
7:53 PM ∙ Oct 11, 2022
461Likes115Retweets

💎 DeFi x NFTs

  • Collection.xyz, a liquidity incentives protocol for NFT AMMs, launched. 

  • Kofi, an onchain data specialist, published a sudoswap analytics dashboard called sudoswap.vision. 

  • MetaStreet, the self-described interest rate protocol of the metaverse, announced a new $10M funding round. 

  • Uniswap just rolled out a revamped web app, and new NFT functionalities are coming up next:

Twitter avatar for @haydenzadams
hayden.eth 🦄 @haydenzadams
🦄 Excited to share one of the biggest updates to the @Uniswap Web App since launch!! 🔥 You can now more easily search and explore tokens, including token detail pages and price charts!! 💜 All with a beautiful new UI skin. 🔜 NFTs next and then so much more 🚀
Twitter avatar for @Uniswap
Uniswap Labs 🦄 @Uniswap
Say hello to our refreshed web app! ✨ The same Uniswap you know and love, now with more token data, discovery, and search options so you can swap easier than ever before 🦄 https://t.co/FmUFhHys4z
4:12 PM ∙ Oct 12, 2022
228Likes23Retweets

Action steps

  • 🌌 Read Why ATOM 2.0 Is a Gamechanger in Bankless

  • 📺 Watch Rejecting Bitcoin Fundamentalism with Dan Held on Bankless 

  • 🌱 Watch the John Paller | Opolis interview on Green Pill

  • 🙇 Catch up on my other write-ups from this week: 

    • ✧ Daylight for your NFT wallet

    • ✧ How to get started on Cosmos

    • ✧ SEC investigates Bored Ape creators


Author Bio

William M. Peaster is a professional writer and creator of Metaversal—a Bankless newsletter focused on the emergence of NFTs in the cryptoeconomy. He’s also recently been contributing content to Bankless, JPG, and beyond!


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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.


Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

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1 Comment
goldenyang8
Writes goldenyang8’s Newsletter
Oct 15, 2022

good

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