⚓️ who is FUDrick Douglas?
back to our regularly scheduled programming today.
and luckily for me, there’s a lot to write about (when it comes to NFT news).
unfortunately for you, the reader, I have once again lost a lot of brain cells during my birthday celebrations.
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this is how you know the Pudgy Penguins are *fully* back…we’re talking price manipulation again.
a 400 ETH sale of a *clean* Penguin sent Twitter into a tailspin yesterday. purchased by FUDrick Douglas, it’s the only one in the collection that faces left…making it *technically* the rarest penguin of them all.
however, you would never know by looking at it…which is probably a big reason for the outcry. this Penguin isn’t gold. this Penguin isn’t dressed up like a pineapple. he’s just a Penguin that looks in the other direction.
under the reign of ColeThereum, Penguins were always accused of being heavily manipulated. big, splashy sales would drive demand and FOMO, which many saw as unsustainable.
so when a sale this big (essentially) comes out of nowhere, people have a legitimate reason to once again be skeptical. are they the same Ponzi Penguins just under different ownership?
to be fair, it’s a bit different this time around, as the buyer is *known* in the NFT community. could this be a marketing ploy still? maybe.
but hey, any non-Yuga sale that goes for this high of a ticket price is OK by me. the last time Penguins were pumping I had a lot of content to work with for my daily newsletters.
I haven’t had the chance to really write about BendDAO.
for those not aware, it’s an event that has *slightly* rocked the NFT world…as it has wobbled the once rock-solid Bored Ape floor. prices for them and their Mutant counterparts have dropped with supply re-entering the market through liquidations auctions.
the TLDR is that BendDAO is hemorrhaging money and market conditions as they are…many of the loan takers are also unable to make their payments.
of course, so goes BAYC…so goes the rest of the NFTs. this has led to a perfect storm that *could* have spiraled out of control. liquidations happened across all collections over the weekend because many thought *their* collections would be in trouble if the BAYC price floor bottomed out too.
luckily, the Apes have restabilized…for now. but we can never be sure when something like this may come out of left field again. plan accordingly.
just a reminder that Doodles and their management still do exist. even better, they’ve reminded us that they’re working with Pharrell. the official Doodles account is still going on 1+ month since their last *official* tweet.
I got the chance to meet an NFT friend IRL yesterday at Disney’s California Adventure (shout out GK again). I’m getting more and more bullish on NFT meet-ups…can we *all* convene at Disney soon to hang out?