Welcome PartyBid 2.0 🎉

Bid on millions of NFTs and more with the new version of PartyBid!

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


Dear Bankless Nation,

Earlier this week I wrote “How to bid on NFTs with your friends,” a Bankless tactic on how to use PartyBid.

Check out the post if you haven’t yet! But if you’re still catching up, the tl;dr is that the dapp makes it easy for groups to collectively bid on choice NFTs, e.g. CryptoPunks. 

I return your attention to PartyBid now because today its creators, PartyDAO, just released a new optimized version of the dapp that’s going to level up group bidding for the entire NFT ecosystem. 

Here’s what you need to know 👇

-WMP


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PartyBid sets sail for the OpenSea 🌊

If you’re still getting up to speed on PartyBid, note that the dapp’s initial version supported group bidding only on Foundation or Zora NFT auctions.

That said, now PartyDAO is widening the playing field in a big way. That’s because the newest version of their flagship dapp supports all “Buy Now” listings on OpenSea!

Remember: OpenSea is home to millions of NFTs, so this integration considerably expands the reach of PartyBid users. Also, the “Buy Now” option opens up new sorts of collective collecting possibilities. In a press release shared with Metaversal, PartyDAO explained:

To create a Party on an OpenSea listing, all you need to do is paste the link to that item into the regular Party creation form. The Party experience is the same as usual, but with one major difference: when the Party has enough ETH, it can purchase the item instantly. No waiting for a 24 hour auction to complete, or competing with other bidders.

[…]

While Parties have typically been large social coordination efforts to buy high-priced items at auction, this release allows any given Party to move much more quickly, raising capital and buying an item instantly with a tightly coordinated group of people.”


🎉 Party to watch: Today builder and NFT collector Dandelion.eth launched a Party for Meridian #837, which is currently listed at a “Buy Now” price of 11 ETH on OpenSea.


Token-gated Parties arrive, too

Another one of the major features of the new version of PartyBid is token-gated Parties

Many on-chain communities are blooming around the Ethereum, DeFi, and NFT ecosystems lately. This new PartyBid functionality offers them the ability to party up and “raid bid” on NFTs together in curated and customizable fashion

For example, you can now create a Party that’s only open to holders of a particular ERC-20 token, and you can also specify a minimum threshold of ownership for participation. This will give DAOs and even just groups of friends the ability to set up special collecting events and beyond.


🎉 Party to watch: Today the Friends With Benefits community launched a Party to buy Solvency #420. Minimum entry requirement? Holding at least 5 FWB.


🎊 More PartyBid resources 🎊


A new NFT social hub

The final pillar of PartyBid’s 2.0 rollout is the dapp’s madeover website.

Notably, the new system now supports user profiles, trending Parties, a central activity feed, and an overhauled UI in general. 

These frontend advances make the project even more socially-focused than it was before. In this regard, PartyBid 2.0 is now more like an NFT social network than a mere group bidding dapp. Keep it on your radar accordingly, I say!


Action steps


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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.