Metaversal

Share this post

The NFT Demand Boom

metaversal.banklesshq.com

The NFT Demand Boom

Huge ape Punk bids, huge Art Blocks sales, huge OpenSea raise, oh my!

William M. Peaster
Jul 23, 2021
11
1
Share this post

The NFT Demand Boom

metaversal.banklesshq.com

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


Dear Bankless Nation,

A buyer’s market happens when supply exceeds demand, as buyers can easily have their pick of things.

On the flip side, a seller’s market happens when demand exceeds supply. We’re seeing precisely this sort of dynamic in the NFT economy lately as more and more people are starting to seriously value the choicest NFTs.

Twitter avatar for @niftynaut
niftynaut @niftynaut
Hate to break it to you. It is not a buyers market.
8:04 PM ∙ Jul 23, 2021

My takeaway? Of course speculation is a factor, but zooming out it seems clear there’s a steadily growing consensus that extraordinary NFTs are indeed extraordinary, and I think there’s something magical about that.

That’s my two gwei, anyways. Thanks kindly for reading everyone, and as always I hope you have a great weekend!

-WMP


🙏 Sponsor: Immutable X — Scaling Ethereum and NFTs!


🏆 Digital Collectibles

  • Things are getting apey! At the moment ape CryptoPunks #2924 and #5314 have standing bids of 1,194 ETH and 950 ETH respectively 🦍

Twitter avatar for @cryptopunksbot
CryptoPunks Bot @cryptopunksbot
Punk 2924 has a new bid of 1,194 ETH ($2,410,900.98 USD) placed by 0x28ca88. larvalabs.com/cryptopunks/de… #cryptopunks #ethereum
Image
6:57 PM ∙ Jul 23, 2021
343Likes51Retweets

🎨 Cryptoart

  • To celebrate the coming activation of EIP-1559, the EIP-1559 NFT Series was introduced via Mirror. The pieces, designed by artist @_kitteh, sold out in short order and most proceeds were earmarked for EIP-1559 contributors!

  • Tyler Hobbs’s Fidenza 938 just sold for 100 ETH, a new all-time high sale price for an Art Blocks work 🎉 

Twitter avatar for @Zeneca_33
Zeneca_33 🍌 @Zeneca_33
BOOM there it is - 100 ETH Fidenza sale, and (I believe) the first three figure eth @artblocks_io sale!
opensea.ioFidenza #938 - Art Blocks Curated | OpenSeaFidenza is by far my most versatile algorithm to date. Although the program stays focused on structured curves and blocks, the varieties of scale, organization, texture, and color usage it can employ create a wide array of generat
2:25 AM ∙ Jul 23, 2021
385Likes81Retweets
  • Dmitri Cherniak’s The Eternal Pump #10 sold for 55 ETH.

  • Art Blocks community members created artblocks.wiki, an info site for tracking all things Art Blocks!

  • Contemporary American artist Tom Sachs unveiled Rocket Factory, a “trans-dimensional manufacturing plant [that] uses NFTs to build new NFTs.”

  • DJ Steve Aoki now has his own custom NFT minting contract courtesy of manifold.xyz!

Twitter avatar for @steveaoki
Steve Aoki @steveaoki
I've got some exciting news coming in the next 24 hours! Been in the works for months which is why we've been a little quiet lately ... btw have u ever seen a smart contract that was someone's face/likeness? @manifoldxyz etherscan.io/address/0x01ba…
Image
5:50 AM ∙ Jul 21, 2021
319Likes33Retweets

🕹️ NFT Games

  • The Axie Infinity team released a block explorer service for the popular NFT game’s bespoke Ronin sidechain. 

  • Polygon unveiled Polygon Studios, a new NFT gaming arm that’s aiming to become a Web2-to-Web3 bridge.  

🌐 Virtual Worlds

  • This summer Mark Zuckerberg told employees that Facebook would be shifting into a “metaverse company” 😨

Twitter avatar for @ClaireSilver12
Claire Silver @ClaireSilver12
1) In 2014, Facebook acquired Oculus VR. 2) In 2020, Facebook released a beta for "Facebook Horizon," a "world creation system" for Oculus. 2) In 2021, Facebook says they are transitioning into a "metaverse company." Like or hate Zuckerburg, it's easy to spot what comes next.
Twitter avatar for @metaverseDAO
mDAO Ⓜ️ @metaverseDAO
Facebook becoming a metaverse company. Interesting. https://t.co/NxvgYcKkaU
5:54 PM ∙ Jul 22, 2021
86Likes17Retweets
  • Cryptovoxels is moving toward a new overhauled chat system that will greatly improve the virtual world’s chat UX. 

Twitter avatar for @cryptovoxels
Cryptovoxels @cryptovoxels
BROADCAST IS DEAD. LONG LIVE WORLD CHAT. This has to go through review n shit - but the plan is: * Multiple chat channels * Island channels * Unread notification * World is new default chat channel * Browser remembers your chat channel * Switch to local and it stays on local
Image
3:13 AM ∙ Jul 23, 2021
14Likes2Retweets

🛒 NFT News & Platforms

  • A new NFT royalty standard, EIP-2981, has been introduced. 

  • Leading NFT marketplace OpenSea announced a $100 million Series B raise at a $1.5 billion valuation 🌊

  • Immutable X, a layer-two scaling solution for NFTs, just unveiled its upcoming $IMX governance token. 

  • Crypto investment firm CoinFund launched a new $83 million venture fund that’s going to focus on the company’s bread and butter, DeFi and NFTs. 

💎 DeFi x NFTs

  • NFT liquidity protocol NFTX rolled out of beta, thus activating rewards for the project’s liquidity providers. 

Twitter avatar for @NFTX_
NFTX 🦧🕳 @NFTX_
NFTX V2 is now officially out of Beta, enabling rewards for all liquidity providers staking their LP positions on v2.nftx.org 🔥🦧 Get started earning yield on your NFT positions by following the release post below: blog.nftx.org/staking-reward…
blog.nftx.orgStaking Rewards now live on NFTX V2!Earn yield on your NFTs by supplying liquidity for any of the V2 Vaults.
6:44 PM ∙ Jul 23, 2021
23Likes11Retweets
  • To commemorate the launch of its next-gen “Trident” AMM, Sushi released the trident-themed NFT Bad Trip as a fractionalized ERC20 via the project’s MISO token launchpad. 

Twitter avatar for @SushiSwap
SushiChef @SushiSwap
To celebrate the Trident announcement, we have given away our Sushi ETHCC presentation attendees a Sushi ETH card with the key to our "Bad Trip" NFT. The fractionalized and tokenized version of Bad Trip or $LSD is up for auction now on miso.sushi.com
Image
Image
12:50 PM ∙ Jul 20, 2021
96Likes5Retweets
  • The PieDAO community is discussing rebalancing the NFT-centric $PLAY index token.


Action steps

  • 📰 Read “How to make money with Axie Infinity” in Bankless!


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


🙏Thanks to our sponsor

IMMUTABLE X

Build an app in < 2 hours with gas-free NFTs on Immutable X, Ethereum’s Layer-2 scaling solution.

Immutable X is Ethereum’s first Layer-2 scaling solution for NFTs. Instantly scale your NFT application with instant trade confirmation, massive scalability (9,000 TPS+), zero gas fees -- without compromising user custody. Developed on top of StarkWare’s bleeding edge zero-knowledge rollup technology, our protocol ensures developers can level up and build a mainstream NFT game, dapp or marketplace in days, not months.

👉 Learn how to build with Immutable X here.

👉 Visit Immutable’s contact form and apply to build.


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.

1
Share this post

The NFT Demand Boom

metaversal.banklesshq.com
1 Comment
Mountain Orion
Jul 28, 2021

The technology behind Steve Aoki and Sushi Card NFTs mentioned in this article is provided by Ether Cards.

Expand full comment
Reply
TopNewCommunity

No posts

Ready for more?

© 2023 Ryan Sean Adams
Privacy ∙ Terms ∙ Collection notice
Start WritingGet the app
Substack is the home for great writing