ENS mania
ENS mania
GM. Sorry for no BivNFT for the last 3 weeks. I’ve been reworking the newsletter in my mind and today I’m coming to you with some exciting news…BivNFT will now be a daily newsletter!
Are you still with me? For those who still haven’t unsubscribed knowing I’ll now be in your inbox 5x as often, thank you.
Over the past few months of doing this newsletter, I haven’t found it hard to keep these up; I love writing about NFTs. I have found it hard, however, to keep the newsletter relevant.
That’s because the space moves too damn fast.
I find myself writing a few hundreds of words on a subject that seems cool only to have something bigger, badder, and more degenerate happen a few hours after I hit publish.
That’s still inevitably going to happen, but hopefully, by upping the frequency, my newsletter won’t look like such a dinosaur so quickly.
I’ll still take weekends off (and I hope you do too), so it’ll be 5 editions of BivNFT in your inbox every week and I’ll *try* to keep your read to 5-10 minutes max. For that reason, we’re already on a time crunch here, so let’s get moving.
ALPHA
Deadfrenz announced Roadmap 1.0 yesterday unveiling their plans for a TCG (trading card game) revolving around the Deadfellaz companions.
From the sounds of it, the game stands to be like Yugioh or maybe even Magic the Gathering (nerd alert!), with the Deadfrenz and their different species battling in a game of strategy.
However, as exciting as the future of this game is, what I’m excited about with the Deadfellaz ecosystem is their recent announcement that the brand has signed with UTA (United Talent Agency). For those living under their NFT pet rock, that is Hollywood representation…the same one, in fact, that represents Yuga Labs.
Agencies like UTA are where almost every big media deal gets done these days (competitors are CAA, WME, and more).
Say you are a big brand looking to get into NFTs, but Yuga rebuffs your advance. Well, haveeeeeeee you met my friend Deadfellaz???
And they won’t just be getting Yuga scraps. They’ll have a seat at the table with some of the biggest names and brands in the world thanks to UTA. It goes beyond television and film celebrities even…UTA recently added Rich Paul, Lebron James’s agent to their board.
As people continue to dump Deadfellaz, I’d imagine that 1.5 ETH floor is going to look pretty cheap a few months down the line when some of the UTA-negotiated partnerships (that are already probably in the pipeline) are revealed.
People say don’t fade Yuga…well, I guess don’t fade who they chose as their representation either.
BETA
ENS digit mania hit new highs as 555.eth sold for 55.5 ETH sending FOMO across the land for those who didn’t enter the illustrious 10KClub.
ENS had a record day and even entered the top 10 daily volume charts for NFTs with over 1000 ETH traded in the last 24 hours alone.
For those living under their NFT pet rock, digit ENS domains (6178.eth, 913.eth, etc) went ballistic this week when people realized they were *technically* a 10K project. It’s a project that is both historical (it’s the first NFT project) and practical (ENS addresses can be used to send ETH and other cryptocurrencies easier).
ENS maxis took the opportunity to bring the project to new heights by essentially rebranding these digit domains as a “degen” community. It’s super smart and not something I expected to see take shape so quickly. I’ve talked about why ENS rulez and why I think they’ll be more essential than .com’s if current trends keep up; I’m bullish.
But people haven’t bought/sold domain names before and it shows.
Keep in mind that domains tend to be one of the most illiquid assets out there (even worse than JPGs if we’re being honest).
A domain is only good as its catchiness or what someone is willing to build on it. Uber.com 15 years ago is not nearly worth what Uber.com is worth now. Punks like 6529 who have built an entire brand and business upon their NFT ID# are rare. 420.eth is obviously elite, but not every 3 numbers are the same. Some numbers hold no significance to the random person and are about as much of a flex as a Toyota Corrola.
To get even a single buyer if the craze dies down will be tough. When that happens, it may take years before the right buyer comes along…if they do at all. I have faith that the community can keep the momentum going, but overnight, ENS suddenly has turned from a low-risk investment into a medium-risk one.
All this being said, I desperately want to join the 1KClub with a 3-digit ENS, but I’m going to risk it and wait to see if ENS mania subsides a little…like the hype on almost all projects eventually do.
DELTA
We have to talk about the biggest drop of the year before I go - Otherside.
The “land” sale (Yuga refuses to call it land in their metaverse right now) will take place on Saturday and cost 305 $APE. Hope you didn’t have any plans.
That’s quite a bit considering $APE - the Yuga Labs token - hit as much as $25 on Thursday.
Regardless, it will sell out but Yuga does not miss and has made its holders extremely wealthy over the last year.
To think that if you literally just bought a Bored Ape for a few hundred dollars last April and did absolutely NOTHING besides claiming your airdrops from them, you would almost be a millionaire right now. Typing that out makes me want to vomit from all the cope in my system.
