Your NFT edge

Coinbase NFT opens, Yuga Labs looks beyond Ethereum, Azuki BEANS, and more!

May 6

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

Dear Bankless Nation,

Your NFT edge is doing your homework.

What I mean is that earlier this week traditional news outlets reported the NFT market was collapsing thanks to very incomplete data from a single NFT analytics service.

Turns out if you check the chain, it’s clear the NFT market is teeming lately and even setting new activity records here and there.

Tom Schmidt @tomhschmidt

we do a lil correction and we shill a lil @DuneAnalytics 🫡

So no, the NFT collapse isn’t upon us. But the inertia from the initial reporting is still spreading out through meatspace and many people won’t see the story has already been debunked.

That’s your edge, then. While many people in the mainstream are still writing off NFTs because they don’t understand them or know how to, you’ve a head start because you do understand the basics. You’ve searched Dune Analytics before. You know how to dig in, as it were.

There are many arbitrages and opportunities to be made in that gap between us and the mainstream. The gap is closing by the day as NFTs continue to take over the world, so keep doing your homework here and making the most of it while you can. In the meantime, have a great weekend ✌️

-WMP

🙏 Sponsor: Rarible – discover & trade NFTs across multiple blockchains and communities✨

🛒 NFT News & Platforms

Coinbase NFT is now open to everyone.
Kraken is launching Kraken NFT:

Kraken Exchange @krakenfx

*･｡ﾟAnnouncing Kraken NFT *･｡ﾟ. Enjoy the premium features you need to explore, curate & secure your NFT collection. Enter your email to join the waitlist for Kraken NFT: kraken.com/nft

Starbucks plans to release NFTs that offer unique customer experiences later this year.
Yuga Labs asserted that “ApeCoin will need to migrate to its own chain in order to properly scale.”
Zora Labs, the builders of Zora, raised $50M in a new funding round.

🏆 Digital Collectibles

Azuki kicked off the BEANZ reveal:

Azuki @AzukiOfficial

BEANZ are a small species that sprouts from the dirt in the garden. While they're earnestly driven by the desire to help their Azuki friends, some BEANZ simply can't resist the allure of the alley… They are a great sidekick to an Azuki, although some like to kick it alone. 2/x

Moonbirds is launching public profiles next week.
Takashi Murakami launched his Murakami.Flowers collection.
Cool Cats introduced a new UI for Cooltopia.
Doodles welcomed Julian Holguin, previously the President of Billboard, as its new CEO.
Forgotten Runes Wizard’s Cult published an epic new trailer:

Forgotten Runes Wizards & Warriors @forgottenrunes

It is not the Wizards who forgot the runes It’s the rest of the World

🎨 NFT art

Fingerprints, a blockchain art collector group, just celebrated its 1st birthday and interviewed OG blockchain artist and NFTer Rhea Myers.
Sofia Crespo released Chimerical Stories on BrainDrops:

BrainDrops 🧠 @braindrops_art

Check out chimericalstories.com the drop from @soficrespo91 / @entangledothers coming in less than two hours to braindrops.cloud/projects/12

0xphiiil released Zupermat on Art Blocks earlier today:

0xphiiil @0xphiiil

I’m very happy to announce "Zupermat" my first generative art series on @artblocks_io It's going live Friday May 6th at 11am CT / 12pm ET artblocks.io/project/305 short thread 🧵 ⤵️

🎮 NFT Gaming

Ancient8 Research, a new GameFi research portal, just launched.
Axie Infinity published an overview of its progress on land staking.
Illuvium is conducting its first NFT land sale in June 2022.

💽 Music

Coopahtroopa.eth published This Week in Music NFTs - May 1st.
RAC kicked off a token-gated guild via Guild, an NFT membership management project:

Guild @guildxyz

With 4.2M monthly listeners on Spotify, @RAC has dropped a guild for the elite fans. The music NFT and social token pioneer called for a ‘min-max token amount’ setup, so we shipped the feature real quick. 🧵

🌐 Virtual Worlds

Yuga Labs refunded ETH to everyone whose transactions failed during the Otherdeeds mint event.
Webaverse appeared on the Delphi Digital podcast this week.
Cryptovoxels rebranded to Voxels.
Decentraland published a Decentraland Security Update.

💎 DeFi x NFTs

Deadfellaz invested in Syndicate, a web3 investment infrastructure project.
Drops DAO, an NFT lending project, arrived on mainnet.

Action steps

🚨 Have you used Hop Protocol to bridge funds for trying out L2 NFTs? See if you’re eligible for the newly announced HOP airdrop.
📺 Watch Overpriced JPEGs Recap #22
📺 Watch Ethereum’s Hollywood Moment with Camila Russo on Bankless
🧐 Read my other Bankless and Metaversal write-ups from this week:
- 5 tips to spot the next big NFT
- NFT lending
- Hot and Cold NFTs

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, JPG, and beyond!

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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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