⚓️ digital collectibles...so hot rn

biv.eth

Oct 24, 2022

gm.

apparently, it’s *out* with the term NFT and *in* with the term “digital collectible”.

the problem is ‘BivDigitalCollectible newsletter’ doesn’t have the same ring to it…

ALPHA ⚓️

Reddit Avatars are having a moment…

9gagceo @9gagceo

1/ The news of the day is @Reddit has created 3 million wallets and it's more than @opensea's 2.3 million wallets. What I see is, only ~0.69% of Reddit's 430 million MAU have created wallets after months of promotion. The road to onboard web2 users to web3 is hard! 🥲

this weekend, there was a lot of buzz surrounding Reddit digital collectibles.

(please don’t call them NFTs…that word is triggering to a lot of Reddit users)

these “collectible avatars” were an attempt back in July to Trojan Horse Reddit users into buying NFTs. and it’s working splendidly so far.

from the tweet above, the number of wallets used to buy these avatars has now surpassed those made on *all* of OpenSea. even better, the avatars are on L2 Polygon and can be traded just like your favorite NFT project.

for that reason, degens started pumping them today; all the avatar collections on Reddit are now ‘sold out’ and many single avatars are now selling for 1+ ETH on secondary markets.

Twitter has long been the main means of communication for NFT fans…but Reddit has long been the means of communication for *online communities* in general.

NFTs…ermmm…digital collectibles are therefore a natural fit for the platform…and surely something that can only grow from here.

think about it: if you use Reddit often, why wouldn’t you want one of these cool, artist-designed avatars as opposed to a default one?

either way, it’s already onboarded enough people to call it a success. just don’t tell anyone on Reddit that…they hate to see us NFT people succeed.

BETA ⚓️

Azuki Gold Skateboards sell for 300 ETH

The Good Knight 🌟 @ThGoodKnight

This space leaves me speechless at times. 😧

the golden skateboards from Azuki were auctioned off this weekend, and it went better than anyone could have imagined.

the 8 skateboards sold for a total of 1900 ETH (which luckily goes to charity) and left even those plugged into the NFT ecosystem scratching their heads.

paying for “digital collectibles”, it always seems possible that they’ll be worth more in the future (see ALPHA section above).

that’s because if ETH raises in price, so does your NFT’s value. and as digital identities, brands, and portfolios only become more prominent in culture, you would guess their values all will grow too.

but paying this much ETH for a *physical* collectible feels backward. I can’t imagine the resale market will be all that hot for a gold-plated skateboard (that again, probably can’t even be ridden).

instead of living on the blockchain “forever” like a digital collectible, the skateboards feel like they’re destined to be living in someone’s garage storage forever.

that’s hardly worth 200 ETH if you ask me…