⚓️ butt key goes for $1.6 million

and a lot of other Yuga-related news...

Feb 28

gm.

‘Cheeks’ first metadata update is live!

for the month of February, it’s been all Checks…and I don’t see that changing for a bit (especially with Jack Butcher continuing to build).

however, if it does, you’ll see the peaches updated again to whatever the flavor of the “peach” is 👀

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if you would like to sponsor BivNFT, feel free to reach out to me on Twitter, @bivnft

ALPHA ⚓

(another) million-dollar Yuga sale

Mongraal @Mongraal

I have agreed to sell the key for 1000 ETH to @AdamWeitsman. Super nice guy and thrilled the sale went through with him. A special thank you to @yugalabs for hosting an incredible competition. I look forward to competing in future events. Royalties will be paid in full. 1/2

my newsletter is often filled with tales of “overnight” success.

whether it’s winning a raffle for a CryptoPunk or making an absurd flip, we often look at those success stories and determine they got lucky (so our egos feel better).

but overnight success is usually anything but.

there are often years of hard work going on behind the scenes before someone “hits it big”. success is when that hard work meets opportunity…and some just find that opportunity way better than others.

that seems to be the case here with 18-year Mongraal, who I wrote about last Tuesday as they were proclaimed the winner of Dookey Dash.

I predicted that the top prize would net him 7-figures and it turns out I was right (there’s a first time for everything).

while the gaming world on the whole is dismissive (at best) of NFTs, Mongraal went the other way. he realized that capitalizing on the popularity and prices of NFTs was *much* more profitable than FUD’ing them.

and now…he has used his gaming skill to cash out for a cool 1000 ETH only 7 days after receiving the NFT (~$1.6 million).

BETA ⚓

more Yuga ICYMI

Andrew T @Blockanalia

In what's likely the largest NFT dump ever, in the past 48 hours Machi has sold 1,010 NFTs, including: - 90 BAYC for 5707 ETH - 191 MAYC for 3091 ETH - 112 Azuki for 1644 ETH - 308 Otherdeed for 582 ETH But he's not registering much profit for these collections. Why?

despite the monster sale, everything was not hunky-dory for the rest of Yuga this weekend. it seemed on Saturday that the Bored Ape price floor was in serious trouble…

…and that meant *we* would all be in serious trouble too.

it started with OSF and Mando, who decided to utilize Blur collection bidding to get liquid. late last week, they sold 71 Apes in one swoop.

Mando @rektmando

After a lot of thinking, today we decided to utilise current NFT liquidity and take profits on our Apes + Mutants. We still own a lot of Yuga assets and continue to be bullish on what they are building. This team changed our lives. We paid full royalties. We will be back.

what was crazy is that the Bored Ape price floor *barely* flinched (at the time). we all chalked this up to the power of Blur and its great system…one that has surely saved NFTs!

flash-forward to this weekend though, and the ramifications of the decision started trickling out.

that’s because a whale absorbed a lot of the bids and it was none other than Machi (you may remember him for his alleged white-collar crimes).

while he took it in stride initially, by Friday and Saturday, he was placing them for sale on the floor. undercutters eventually did their thing too and added to the crash that sent the price floor to a 90-day low of 65 ETH.

in classic Yuga fashion, it’s since bounced back, but it doesn’t mean the threat wasn’t there. Blur has brought the scary new reality right to our front door…

…that we need to learn more about day trading in this new NFT world we live in.

(time to brush off my old econ books from college and start learning how to trade real quick)

what is twelvefold?

Yuga Labs @yugalabs

Introducing TwelveFold. A limited edition collection of 300 generative pieces, inscribed on satoshis on the Bitcoin blockchain. TwelveFold.io

Ordinals as you may recall are a technical workaround that *essentially* creates a Bitcoin NFT. the system is far from perfect as currently constituted, but it hasn’t stopped people from jumping in *big* onto the trend.

well now, the craze will likely be stepped up another notch…as TwelveFold was revealed to be Yuga Lab’s limited collection of 300 generative Ordinals.

this news has caused speculators and fans of the Apes to finally start taking Ordinals seriously. I imagine that this only adds *more* fuel to the fire.

Ordinals are going to become a thing this year…so you best get ready. because once again, it’s adapt or die.

DELTA ⚓

Gutter Cat Gang down bad

FFV @FFVV1211

GCG… Wtf happened? 9 ETH —> 1 ETH

OK…no more Yuga talk. I’m going to shout out a fellow Cat NFT…one that is currently going through a rough patch.

the Gutter Cat Gang was once the community I called home.

and while the charts seem to imply that this project is trending towards 0, I just can’t see that happening.

whether it’s through an acquisition or a reorganization (similar to that of Cool Cats), I don’t see how this particular project can dip much lower than 1 ETH price floor.

regardless of the management, this community is one of the strongest ones I’ve ever known and I don’t see it fading away just because the value of their JPG went down a bit.

ok, so down a lot.

but either way, though the Cool Cats vs Gutter Cats rivalry has been fierce…we’ll always support each other. see you Thursday.

BivNFT ⚓