Multi-year NFT bull run?

Huge Bored Ape buy, Doodles dominate, science labs are turning to NFTs, & more!

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

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Dear Bankless Nation, 

At the start of October 2020, daily NFT trade volume reached +$1M for the first time. NFT activity has surged ever since, so I think it’s safe to say we’ve been in an NFT bull market from that point on. 

Following that line of thought, we’ve now been in an NFT bull market for 1 year and counting. So what’s next? Some people joke that 2021/2022 is going to play out like the 2017/2018 crypto market, i.e. a bear market is due early next year. 

However, the future arrives in ways we can’t cleanly predict. Lately, I’ve been starting to consider the possibility that the Coinbase NFT platform (and many other factors, of course) might extend this NFT bull market through 2022 and perhaps even beyond. 

NateAlex @NateAlexNFT

@iamDCinvestor @BobLoukas agree. this year marks the first time since dec 2017 CK mania that the majority of users on ethereum are doing so because of NFTs. result has been a larger impact from that demand on the 'top' collections. i could see the trend continuing as long as growth comes from nft interest

We’ll see, right. In the meantime have a great weekend, be well, and stay creative 👨‍🎨️

-WMP

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🙏 Sponsor: Zerion—Your Gateway to the Metaverse✨

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🏆 Digital Collectibles

• Big collectibles moves this week: crowned Bored Ape #8585 sold for 696.969 ETH, while CryptoPunks #273 and #4626 were acquired for 265 ETH and 248.88 ETH respectively.
  

🏝nathanhead.eth🏝 @NathanHeadPhoto

BORED APE YACHT CLUB #8585 JUST SOLD FOR 696.969 ETH ($2.7 MILLION) 🤯

• New collectibles project Doodles launched on Sunday and has since seen nearly 10,000 ETH worth of trading volume according to OpenSea.

• Forgotten Runes Wizard’s Club is getting its own TV show.

• MAYC merch drop today! 

🎨 Cryptoart

• The application period for SuperRare Space Race #1 is now over. Time for SuperRareDAO to vote on a winner!

• Speaking of SuperRare, there were two major acquisitions on the NFT platform this week: Matt Kane’s CRYPTOART MONETIZATION GENERATION (320 ETH) and Alotta Money x jvinci’s Saint Nakamoto (270 ETH). 

• Alt-pop musician Grady sold his record The Love Umbrella on Catalog for 8.1 ETH.

𝔧𝔞𝔠𝔬𝔟 𓃋 @js_horne

1 song minted. Sold for 8.1 ETH ($31,291). Equivalent to 730,000 streams. Free to listen for everyone, no ads or signup. The future of music is already here, most people just don't know it yet. → catalog.works (@catalogworks)

🎮 NFT Games

• The Axie Infinity ecosystem is booming 💥

Axie Infinity🦇🔊 @AxieInfinity

A Digital Nation Rises ✨

• The Loot community launched lootproject.com v2. 

• DraftKings is partnering with Polygon Studios.

• Space MMO Influence is launching on the StarkNet scaling solution!

• Sci-fi NFT card game Parallel raised a funding round at a $500M valuation.

🌐 Virtual Worlds

• A presumably lost Etheria plot was recovered and listed for 250 ETH!

etheriabot @etheriabot

An ultra-rare Mountain tile purchased in Nov 2015 has been recovered from a previous-thought-lost wallet and listed for 250 ETH at etheria.world/exchange.html Only 2 mountains are known to be active/non-lost. Join the Discord to DM the owner. discord.gg/SzVmtk44Rw

• Check out the write-up “Present & Future of Cryptovoxels” by author DawnXue.

🛒 NFT News & Platforms

• Science labs are starting to sell NFTs to fund research by alternative means. 

• Zora unveiled new docs. An insightful thread on what to look out for:

rat on cocaine @lily___digital

new docs.zora.co is live—here's a thread on what @iismallcombe @0xNader @brxckinridge and I have been up to for this release

• MyCrypto launched an NFT dashboard.

💎 DeFi x NFTs

• Did you know? Fractionalization-focused NFT platform Fractional went from zero to 10K users in 28 days!

• Sudoswap hits +1,500 swaps. 

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Action steps

• 👀 Read “The Coinbase NFT platform” by Metaversal

• ⛑️ Read “Tips for safely minting NFTs” by Metaversal

• 💵 Read “How to get paid by DAOs” by Bankless

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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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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.