⚓️ minecraft blows up NFT Worlds
yesterday, someone finally pointed out to me that I skipped ‘gamma’ in my newsletter’s structure.
I go from alpha and beta right to delta (so I got A, B, D effectively).
since I’ve already been doing it this way for months, I’m moving forward pretending that this was completely intentional and that I definitely know my greek alphabet.
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the first wave of nostalgia NFTs is upon us.
yesterday, Nickelodeon released a set of NFTs featuring characters from ‘Hey Arnold’ and ‘Rugrats’ (aka TV shows that “only 90s kids” know…or care about).
however, that did not stop degens young and old from pumping this project…having it flirt with a 1 ETH floor until everyone realized there were more Nickelodeon NFTs on the way.
the model (to me) seems to be something that will profitable and easily recreated.
already, vintage stores (aka nostalgia shops) across the world prey upon collectors who have emotional connections with certain sports players, TV characters, or movie images.
rest assured that any company that holds the IP of old shows and movies will now be moving into the NFT space, especially since Nickelodeon has now shown it can be successful. Daria, Betty Bop, Popeye, the Teenage Mutant Ninja Turtles…none are safe from being blockchain’ed now.
the real question though: wen Rocko’s Modern Life NFTs, Nickelodeon? that was always my favorite.
Minecraft issued an effective death blow to the metaverse project NFT Worlds today.
the Microsoft-owned game released a statement that they would not allow for “blockchain technologies” to be integrated into their application.
NFT Worlds once had close to a 15 ETH price floor in February of this year. it had already been on the decline since the Otherside land sale (and other metaverse competition entering the market), but on this news, it has deflated down to .7 ETH (as I write this).
in hindsight, building your project on the back of a Web2 game owned by a megacorporation whose former CEO and founder revealed he hates cryptocurrencies was a bit risky.
however, this story, unfortunately, adds to a long list of cautionary tales. remember people: 1) take profits and 2) don’t invest in projects that rely heavily on a single centralized institution.
the new alpha is creating an NFT whose art is so polarizing that everyone talks about it. first, it was Goblintown and now it’s Moonbird Oddities. to be fair, they did put that they were ‘odd’ right in the name. Kevin Rose is leaning into the controversial reveal.
speaking of ‘controversial’ and ‘reveals’, Coolman’s Universe Babies are out now. unfortunately for them, on the heels of their minting price disaster, a lot fewer people are actually talking about their art. for that reason, I thought I’d give them a small shout-out (unrelated: still available to write for your TV show)