Bridging NFTs to L2 🌉
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.
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!
In the meantime have a great weekend everyone! And as always thanks kindly for reading ✌️
-WMP
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📣 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:
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:
🏆 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:
💽 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:
💎 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:
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:
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.
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