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NFTs: no for real, though

BAYC beats the Box Office, OpenSea flips Uniswap, Tycho’s on Catalog, & more!

William M. Peaster's avatar
William M. Peaster
Feb 04, 2022
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NFTs: no for real, though
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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.

Twitter avatar for @dmitricherniak
Dmitri Cherniak @dmitricherniak
To celebrate Ringers birthday and its demise, Dead Ringers: Edition was minted 23,469 times over a 24 hour time period and raised enough to support 16 million meals according to the calculator at the @FoodBank4NYC.
Twitter avatar for @dmitricherniak
Dmitri Cherniak @dmitricherniak
Dead Ringers: Edition January 31, 2022 0.05 Ξ to mint, one per address. 24 hour window starts at midnight EST to celebrate the birth (and death) of Ringers. Edition capped at 16^40. All proceeds go to @FoodBank4NYC Ringers is dead, long live Ringers: https://t.co/DKFIVLtuwH https://t.co/o6ND5un7MK
5:05 AM ∙ Feb 1, 2022
834Likes241Retweets

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. 

Twitter avatar for @dmitricherniak
Dmitri Cherniak @dmitricherniak
Dead Ringers: Edition January 31, 2022 0.05 Ξ to mint, one per address. 24 hour window starts at midnight EST to celebrate the birth (and death) of Ringers. Edition capped at 16^40. All proceeds go to @FoodBank4NYC Ringers is dead, long live Ringers: deadringers.dmitricherniak.com
Image
2:16 AM ∙ Jan 31, 2022
1,715Likes427Retweets
  • Thomas Lin Pedersen released Screens via Art Blocks this week:

Twitter avatar for @andreitr
Andrei Taraschuk 🦇🔊 @andreitr
Thomas Lin Pedersen (@thomasp85) is releasing the Screens collection on the Art Blocks tomorrow. As you probably guessed, I built a shiny new #artbot for it 🤖 Please follow @ab_screens_bot to explore the art and stay up to date with the latest sales.
Image
Image
Image
2:37 AM ∙ Jan 31, 2022
19Likes1Retweet
  • Cryptoart data: Right Click Save published a new article detailing high-level insights on recent cryptoart market activity. 

Twitter avatar for @artnome
Artnome @artnome
The analysis from @kylewaters_ article on RightClickSave literally remapped my entire understanding of NFT landscape. His gift for illuminating the big picture is such a huge asset! rightclicksave.com/article/data-i…
Image
10:36 PM ∙ Jan 31, 2022
80Likes15Retweets

🎮 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! 

Twitter avatar for @hilliamtung
Hilliam @hilliamtung
@NateAlexNFT ChainFaces Arena (SP1.0) is now officially over! Spaces Summary 👇 1/ Arena Highlights: - @pranksy's army of 148 entirely died unfortunately. - @ThatKotoKid, who entered the arena with only 1 CF, came out 3rd! - @Tweety_NFT took 2nd! - At 1st, @bears_deluxe took home 58 ETH!
11:30 PM ∙ Feb 3, 2022
20Likes3Retweets

💽 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!


Subscribe to Bankless. $22 per mo. Includes archive access, Inner Circle & Badge.


🙏Thanks to our sponsor

POLYGON STUDIOS

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.

Stay updated on the latest amazing gaming, NFT, and metaverse projects:

👉 Join the Polygon Studios Discord

👉 Follow Polygon Studios on Twitter


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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NFTs: no for real, though
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Md Nazmul Alam's avatar
Md Nazmul Alam
Feb 4, 2022

Nice

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Zora V3 is 🔥
Zora’s new protocol infra is a step forward for the NFT space!
Jan 25, 2022 • 
William M. Peaster
47

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Metaversal moved to bankless.com/metaversal
Metaversal moved to bankless.com/metaversal
Zora V3 is 🔥
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Bored Ape Mutation Madness! ⚗️
BAYC introduces Mutant Apes, leading to a fun NFT mutation frenzy!
Aug 31, 2021 • 
William M. Peaster
25

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Metaversal moved to bankless.com/metaversal
Metaversal moved to bankless.com/metaversal
Bored Ape Mutation Madness! ⚗️
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Why Right-Click Savers Flunk NFTs ❌
French philosopher Jean Baudrillard would tell right-click savers they have NFTs all wrong!
Sep 8, 2021 • 
William M. Peaster
24

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Metaversal moved to bankless.com/metaversal
Metaversal moved to bankless.com/metaversal
Why Right-Click Savers Flunk NFTs ❌
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