Yuga Blocks OpenSea 🙊
Weekly Roundup: Delegate V2, Phantom x Party, Sound Tiers, & more!
Metaversal is a Bankless newsletter for weekly level-ups on NFTs, virtual worlds, and more!
Dear Bankless Nation,
Yuga Labs, creators of the Bored Ape universe, just sent a shot across the bow of the NFT space.
Well, mainly across the bow of OpenSea.
With no love lost for OpenSea’s royalty-optional approach, Yuga just blocked its new Legends of the Mara collection from trading on Blur, LooksRare, Sudoswap V1, and yes, Opensea.
Blur and the others are used to being blocked by collections at this point, thanks to the now-sunset Operator Filter, but it’s the most high-profile stiff arm yet for OpenSea in this regard.
Will the move lead to wider change? There’s no telling at this point, but in the very least, Yuga’s made a rallying cry that will resonate with many NFT creatives: support NFT royalties, or lose our support.
We’ll have to wait and see what happens next. In the meantime, it’s that time again, let’s get you caught up on the past week in NFTs. Have a great weekend everyone, and as always thanks for reading! ✌️
-WMP
🙏 Sponsor: Uniswap Labs — Better Prices, More Listings: NFTs on Uniswap✨
📊 The big picture
Over the past week, the floor-based market cap of the NFT space dipped sharply from 7.53 million ETH to 6.22 million ETH for a 17.5% drop ⤵️
🔝 7D top collections by volume
🏹 Settle, Hunt, Claim, Repeat.
Be more bankless and become a Bankless Citizen today!
📰 General news
Delegate introduced Delegate V2.
mint.fun announced Levels.
OpenSea acquired MintDrop.
Phantom added native support for Party.
Zapper launched Trends on its mobile apps.
🏆 Digital collectibles
Pudgy Penguins rolled out its toys in 2,000 Walmarts.
VeeFriends entered into a collectibles partnership with Mattel.
🎨 Cryptoart & music
Gami introduced Sketchbook, a platform for minting sketches.
LNRZ unveiled Multichain, an EP drop across Base, Optimism, and Zora Network.
Sound introduced Tiers, a way to release Limited Editions and Forever Editions in one drop.
🎮 Decentralized gaming
AltLayer announced Turbo, a rollup framework for Autonomous Worlds.
Axie Infinity released the Lunalog Catalog, a Pokedex for Axies.
Ronin unveiled the Ronin Name Service.
Small Brain Games released an open-source starter kit for onchain games.
Yuga Labs launched its Legends of the Mara game.
🌐 Virtual worlds
Decentraland launched Emotes 2.0.
🪙 NFTfi
Zharta, a new NFT lending protocol, published its decentralization manifesto.
🎆 Mint spotlight: Natural Static by Jonathan Chomko
Presented by JPG and featured in the exhibition "Generative Art Beyond the Algorithm" curated by Outland’s editor-in-chief Brian Droitcour, Jonathan Chomko's "Natural Static" is a fine art generative NFT series that transforms videos of natural motion into pixel-based water simulations, creating a dance between the physical and the digital. The animated pieces are 0.1 ETH each, and the mint closes on Monday, October 2nd if you’re interested!
🙇 New insightful reads to level up your web3 knowledge!
1. Aztec on Dappicom 👾
2. Holograph on Holograph XP ⏭️
3. John Palmer on Party Protocol 🎉
✨ My NFT tool of the week: Daily Jam
Daily Jam is a new onchain drawing experiment, reminiscent of BasePaint, that just launched this week. It’s still on testnet, and its first users were let in via Party, so you may not be able to try immediately. Even still, the project looks really fun and is another one to watch going forward, so keep an eye on it and consider hopping in once/where you can!
😜 Someone call the SEC…
P.S. Weekend quests!
🌊 Check out Natural Static
🎨 Follow Daily Jam
🆕 Catch up on the latest Bankless articles:
🙇 Catch up on my latest write-ups:
Author bio
William M. Peaster is the creator of Metaversal — a Bankless newsletter focused on the emergence of NFTs in the cryptoeconomy. He’s also a senior writer for the main Bankless newsletter.
A Bankless Citizen ⚑ turned $264 into $6,077 last year. A 22x ROI 🚀 in a bear market!
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UNISWAP LABS
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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.
The drama between OpenSea and Yuga Labs is really heating up, and it raises some important questions about royalties and creator compensation in the NFT space. OpenSea's approach of making royalties optional is certainly controversial, and it's understandable that creators like Yuga Labs would feel frustrated and disrespected by that approach. It's really a question of who should benefit from the secondary sales of NFTs - the platforms or the creators? It's clear that Yuga is taking a strong stance in support of creators, but it remains to be seen how this will all play out in the long term.