NFTs: no for real, though
BAYC beats the Box Office, OpenSea flips Uniswap, Tycho’s on Catalog, & more!
Metaversal is a Bankless newsletter for weekly level-ups on NFTs, virtual worlds, & collectibles
Dear Bankless Nation,
It seems anti-NFT critics’ jeering is reaching a fever pitch lately. For the most passionate among them, NFTs are totally irredeemably evil and can never do any good.
Such absolute irredeemability is hardly true for anything, and it’s demonstrably not true for NFTs. Just this week alone, artist Dmitri Cherniak raised enough money to cover 16 million meals for the needy with a single cryptoart drop.
This is one example, yet the possibilities for doing good with and around NFTs extend out endlessly in every direction, both individually and collectively speaking. So when hardliners argue NFTs are irredeemable, they’re doing themselves and everyone else a disservice.
I can wax poetic on the current shortcomings of Web3 with the best of ‘em. Yet I’m also astonished by the positives of Web3 and work to advance these. That the anti-NFTers can’t do both shows they’re not seriously paying attention. For real, though.
-WMP
🙏 Sponsor: Polygon Studios—Fostering culture across Gaming, NFTs, and the Metaverse✨
🛒 NFT News & Platforms
OpenSea upgraded its minting contract in an effort to mitigate “inactive listing” NFT sales; the NFT platform also just became the #1 used product on Ethereum.
0x Protocol is adding multi-chain NFT swaps support to its V4 infrastructure.
Flastmint, which lets users mint from any NFT allowlists, arrived.
Gem experienced its first CryptoPunks sweep.
Rarible is working on an integration with Polygon.
Gamestop will use Immutable X to power its upcoming NFT marketplace.
Coachella launched lifetime festival passes as NFTs.
Disney is making NFT hires.
🏆 Digital Collectibles
Yuga Labs, the team behind the Bored Ape Yacht Club, is reportedly in funding talks with Andreessen Horowitz amid huge recent success.
BAYC record: Bored Ape #232 sold for 1,080 ETH!
Larva Labs is exploring going after CryptoPunks V1 for copyright infringement.
Cool Pets claiming began.
Lost Nouns, a Nouns derivative project showcasing unused Noun traits, kicked off its first auction.
🎨 Cryptoart
Dmitri Cherniak published Dead Ringers: Edition, the proceeds of which he directed to the Food Bank for New York City.
Thomas Lin Pedersen released Screens via Art Blocks this week:
Cryptoart data: Right Click Save published a new article detailing high-level insights on recent cryptoart market activity.
🎮 NFT Games
Axie Infinity unveiled economic balancing adjustments for the game’s upcoming Season 20.
Chainfaces Arena completed its first battle event; the winner was the Bears Deluxe NFT project, whose successful fighter won 58 ETH!
💽 Music
Sound.xyz has paid out +$300k to its +30 artists to date.
Tycho auctioned his song Jetty on Catalog.
Music NFTs as the next big trend in NFTs? Check out this new Bankless analysis.
🌐 Virtual Worlds
Cryptovoxels is hiring for multiple positions.
Decentraland published its 2022 Manifesto.
The Sandbox completed its LAND migration.
Atlantis World is building virtual clubhouses for Nouns and SharkDAO.
💎 DeFi x NFTs
Charged Particles V2 is launching this month.
Action steps
📺 Watch Interview with Doodles’ founder Poopie by Overpriced JPEGs
📖 Read Why Ethereum still dominates NFTs by Metaversal
📖 Read Bridging the L1-L2 NFT divide by Metaversal
📖 Read Crypto down, NFTs up by Bankless
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, DeFi Pulse, JPG, and beyond!
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🙏Thanks to our sponsor
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Polygon Studios is on a mission to help build digital culture, play-to-earn gaming, NFTs, and the Metaverse ecosystem on Polygon. Some of the key projects supported by Polygon Studios include The Sandbox, Skyweaver, Big Time, Crypto Unicorns, and Decentraland—among others. Polygon Studios also helps fundraising & onboarding. Check it out here.
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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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