gm.
the NFT space is relentless sometimes. if you’re not getting rugged, your internet friends are getting hacked.
that person that was in it for the wrong reasons? he’s probably richer than you. and that project you liked so much? oh god…it’s heading to zero!
but I don’t want to start this newsletter off with a bummer. I have to show off my overwhelming sense of optimism to my new subscribers! so here you go:
wgmi.
ALPHA ⚓️
what’s checks VV?
open editions have been all the rage in 2023…but did you expect for one to get *this* big?
odds are you have been seeing the art above the past few days.
(if you haven’t…you’ve maybe seen one of the many derivatives that’s already popped up trying to capitalize on its popularity)
done by artist Jack Butcher…it’s meant to ask the question posed by Elon Musk’s new Twitter Blue:
if everyone has a blue check…does that mean no one does?
the answer? who cares. all that anyone seems to care about with this story is that this open edition initially cost $8. now it’ll cost you 55 times that to buy one (not a typo).
yes, as I write this it’s sitting at a .275 ETH price floor with >325 ETH in sales in the past 24 hours. and folks…unlike Twitter Blue…people are *still* buying it.
(I, for one, just canceled my subscription as $15/month seemed too steep a price just to be inconvienced)
I’m sure there will be many success stories from the “open edition” meta and craze moving forward (until we inevitably move onto whatever fad is next), but right now…the model *appears* to be Checks VV.
Elon is punching the air knowing that he could have merely *minted* checkmarks for Twitter Blue and probably made way more with help from all you degens.
BETA ⚓️
NFT God :(
unfortunately, news in the NFT world is oftentimes *not* so good.
that’s the case here as (friend of the newsletter) NFT God saw his computer hacked this weekend…causing him to lose his signature Mutant Ape and *almost* have his Substack and Twitter compromised.
on that front, he’s lucky. he was able to recover those and alert his community as to what happened.
I feel every few weeks, I have a heartbreaking story in my newsletter of people losing *a lot* of their net worth to scams. it’s far from a perfect system we have right now.
but if there can be a silverlining to this, is that each story is a learning experience for us all. the new one here being that we apparently should have entirely different computers to use our hard wallets on?
(again, we are *far* from a perfect system)
if you would like to you would like to support NFT God, go subscribe to his newsletter:
GAMMA ⚓️
memes seized
we are seeing 6529’s Memes have *another* moment. if you still haven’t heard of them…it’s time you seize the memes of production.
yes, that’s the tagline of the project…and with it, 6529 is trying to be an NFT historian.
think Rare Pepe cards with one of the space’s biggest forces behind it, and you have Memes.
each Meme has a different *major* artist commissioned to create an editioned “card” that showcases their style and a little piece of the “culture”.
(some of the featured artists just to name a few: Drift, OSF, ACK, and recently Grant Yun)
and it’s certainly resonating with us…as sales continue to rise and a full collection costs more and more.
DELTA ⚓️
Pokemon ENS
speaking of culture, I had to explain to a lot of people last week what the deal with Pokemon ENS was.
it’s pretty self explanatory but here I go again (on my own):
the names of every Pokemon have been minted as ENS domains. the original 151 Pokemon, which I know you can PokeRap, had at one point a 4 ETH price floor. the rest were selling at >.25 ETH, which is a 50x flip for any holders that minted the Pokemon.
much like digits, the Pokemon ENS fans have been FUD’ed relentlessly for minting something so “stupid”.
yet for some reason, it’s got speculators all asking what the next *fandom* ENS craze will be. that’s because with NFTs it all seems dumb…until it’s not.
see you Thursday.