Pretty Nifty! 💎
CryptoPunks volume booms, KnownOrigin debuts counter offers, & NFTs are burning ETH!
Metaversal is a Bankless newsletter for weekly level-ups on NFTs, virtual worlds, & collectibles
Dear Bankless Nation,
Remember earlier this summer when naysayers were celebrating the “death” of NFTs?
Talk about missing the mark!
The rub? These folks set themselves up for failure by taking a misconstrued snapshot of an unprecedented technology they didn’t understand, as if everything’s been settled about NFTs already!
In fact little has been settled around NFTs yet, but what has been settled so far — e.g. the ERC-721 standard — has proven incredibly empowering for people from all walks of life. Naysayers are ignoring these realities at their own expense, so let’s hope they come around sooner or later 😉
🏆 Digital Collectibles
Speaking of Punks, 7-day CryptoPunks trade volume just surpassed $200 million according to CryptoSlam! On the week, we also saw plenty of trading around Bored Ape Yacht Club (~$49$M), Meebits (~$24M), Cool Cats (~$7M), and VeeFriends (~$6.5M).
Cryptoart platform KnownOrigin released a new counter offer feature, which notably lets artists “send counter offers to bidders.”
XCOPY’s new summer.jpg piece was acquired on SuperRare for +336.5 ETH 🤳
Artist Darien Brito’s Art Blocks series Pigments, another Dutch Auction drop, sold out today within 25 minutes!
🕹️ NFT Games
Leading NFT game Axie Infinity is currently pulling in ~1M daily active users!
Axie Infinity also just became the first NFT project to reach $1 billion in all-time trading volume 🎉
Play-to-earn guild Yield Guild Games (YGG) is on the hunt for an Esports Team Manager + a Creative Art Director.
🌐 Virtual Worlds
Cryptovoxels started Dutch Auctions for the remaining 50 parcels in the virtual world’s upstart Satoshi district.
Decentraland introduced its new In-World Builder system, which will let LAND owners edit their scenes in real-time from within Decentraland.
🛒 NFT News & Platforms
With EIP-1559 now activated, a portion of all ETH transactions get permanently burned. Guess which Ethereum project has burned the most ETH so far? NFT marketplace OpenSea, with +735 ETH burned at the time of this post’s writing! 🔥
💎 DeFi x NFTs
Interested in being able to sweep an NFT floor in one swoop? Keep your eyes on GenieSwap, a “programmable 1inch for NFTs and ERC20s.”
👀 Check out BanklessDAO’s “Ultra Sound Bat” NFT collab — 25% of the proceeds will be donated to crypto advocacy organization Coin Center!
📰 Read “Rhizomatic NFTs 🌺” in Metaversal
📰 Read “EIP-1559 + NFTs = 🔥” in Metaversal
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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.