That NFT you like’s in style

Axie Infinity unveils RON, Cool Pets delayed, OpenSea reverses collection limit, & more!

Jan 28

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

Dear Bankless Nation,

While broader market conditions have been choppy lately, the floor prices of many top NFT collections have been holding or even gaining ground in rather impressive fashion.

To be sure, I think approaching NFTs purely as a crypto or macro hedge is missing the forest for the trees. Yet the big wigs are starting to pay attention and more and more are wanting in.

Frank Chaparro @fintechfrank

As NFTs cement their place as the macro hedge in crypto, institutions will increasingly want to allocate to the market. DCG’s Genesis Global is already taking NFTs as collateral and building a platform to meet the hedging and liquidity needs of institutional NFT traders

Stuff like this is inevitable as NFTs continue to make inroads into the mainstream. But it’s also a stark reminder that the world’s watching what we’re doing in this ecosystem increasingly closely.

Let’s live up to the moment; our cue has arrived.

-WMP

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🛒 NFT News & Platforms

OpenSea reversed its decision to limit minters to 5 collections capped at 50 NFTs each; it also introduced a listings manager and moved to reimburse users negatively affected by the platform’s listing system.
gem, a new NFT marketplace aggregator, broke the +10k ETH volume mark in a matter of days.
LooksRare now offers LOOKS trading rewards across all NFT collections.
PartyDAO launched Collection Parties.

PartyDAO @prtyDAO

New: From the PartyDAO you’ve come to know and love… COLLECTION PARTIES Start a party on any NFT collection, collect ETH, then buy any item you want when the time is right. Supports any collection on OpenSea. Means your party can never lose! partybid.app

Zora rolled out its V3 protocol.
YouTube is exploring support for NFTs; Reddit is reportedly doing the same.

🏆 Digital Collectibles

Azuki is dominating OpenSea’s volume charts right now:
Image via OpenSea Stats
Cool Pets, the Cool Cats expansion collection, is now launching on Jan. 31st.
Larva Labs once again disavowed V1 Cryptopunks.
Noundred: I cataloged the traits of the first 100 Nouns, as these traits aren’t directly named on-chain. (E.g. useful if you’re trying to find part names for building Noun profile pics).

🎨 Cryptoart

Shields, an onchain heraldic design system, launched.

🎮 NFT Games

Axie Infinity launched RON, the native token of the leading NFT game’s Ronin sidechain. The project also just kicked off RON rewards for the RON/ETH pool on Katana.

Ronin @Ronin_Network

Rewards for the RON/ETH pool are now live! katana.roninchain.com/#/farm

Parallel published the Prime Proposal.
Chainfaces Arena currently has ~600 warriors left standing.
The Crypto Game kicked off its Chapter 1 gameplay.

💽 Music

Tactic Tuesday: check out my new How to get started with music NFTs write-up for Bankless.

🌐 Virtual Worlds

Cryptovoxels listed the final Flora parcels.
Warner Music Group is launching a theme park in The Sandbox.

💎 DeFi x NFTs

dYdX introduced Hedgies, an NFT collection.
Reservoir, an NFT order book protocol, has arrived.
Paradigm unveiled CRISP, a way to “sell NFTs at a targeted rate over time.”
Slingshot unveiled the Slingshot 2099 Marketplace.
TracerDAO announced Perpetual PUNK tokens.

Action steps

Watch NFT Marketplace Wars by Bankless
Watch Moment of Zen(eca) by Overpriced JPEGs
Read Trying NFTs on Optimism by Metaversal

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, DeFi Pulse, 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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