⚓️ friendship bracelets mania
gm.
we’re in for an exciting week in NFTs. we have another chapter of the Trial of Jimmy leading the way…but we now have the euphoria from last week to feed off too.
will we continue to see things rise? or will the bottom fall out once again?
these are the games we play in the NFT world (and I wouldn’t have it any other way).
ALPHA ⚓️
wtf are friendship bracelets?
you can try to cover the entire NFT space by yourself…but eventually, you’re going to have your blind spots.
(in my case, I have hundreds of them, and the ones I have are typically the ones making all the money)
but I don’t feel so lonely…as a lot of NFT Twitter has been oblivious to Friendship Bracelets (which are *suddenly* all anyone can talk about).
as described by friend Tyler_Did_It, Friendship Bracelets are essentially the Art Blocks “token”. these are highly liquid, high-supply NFTs that double as an art project.
(the generative pieces were even created by Snowfro…the founder of ArtBlocks…himself)
and despite them being around since November of 2022, people are *just* catching on now (see below).
that’s because the claim window for Friendship Bracelets (which was free for ArtBlocks owners) is closing…and probably will be closed as you read this.
but the big supply (40K) and a wave of last-second mints haven’t affected the floor price too much…which is up almost 100% since Christmas (it currently sits at a .53 ETH price floor as I write this).
so if you’re in it for the art (or at least you say you are), Friendship Bracelets will be the proof you need to be officially declared an Art Blocks stan.
and now that the mint window is closed? well, now the *real* fun begins…and we wait.
BETA ⚓️
wtf are captainz?
oh…and another thing about when you write about NFT news:
sometimes you see a project or name popping up over and over again. so much so that you eventually *have* to take notice…or it’s a negligence of duty.
that’s where I’m at with ‘Captainz’ right now…and I’ve done the research so you don’t have to:
Captainz are from the Memeland collection.
Memeland is a metaverse project run by 9gag and 9gagCEO…who seems to be like a Web2 Wab.
9gag is a big meme community and social media platform (akin to Reddit).
Captainz are the second set (but the more important ones) from Memeland…with Potatoz being the first. you may have heard of them.
now what I can’t tell you is why Captainz have run wild…but they have. perhaps it’s the aforementioned 9gagCEO. perhaps it’s the strong community they’ve built on their Web2 platform in the past. or perhaps it’s just that the “price go up”.
the Captainz started with a strong floor price of 5 ETH after their January 7 mint (which was a guaranteed airdrop to you if you owned 3 Potatoz and deposited 1.069 ETH).
the surprising part? it hasn’t slowed down yet and has remained stable at that price over the weekend and into Monday (as I write this, it’s at 5.01 ETH).
in fact, it’s still managed to do over 500 ETH in sales over the last 24 hours. not bad…considering we don’t even know what the Captainz will look like (yet).
do be warned though…prices this high *pre-reveal* tend to end poorly for most projects and their holders. just look at Mekaverse, Hape, Invisible Friends, and Cool Pets if you need any historical evidence.
however, since I’m out of my element here…I’ll withhold my judgment for now and just keep the Captainz (and Memeland) on my radar moving forward.
they have more planned this year and seem to have a very fervent (and apparently rich) fanbase.
GAMMA ⚓️
Polygon’s $3 million bag drop
Frank revealed in a Spaces what it took to get y00ts off the Solana chain…$3 million dollars.
not bad for the account executive at Polygon who negotiated that deal. he was able to end his 2022 with a fat commission check (I’d imagine)…and hopefully some nice gifts for his family.
while y00ts will be the biggest project to move chains, don’t expect this to be a one-off. I can see other chains (like Arbitrum and Avalanche) start trying to lure projects away from Solana too…so they can be “big fish in little ponds” for 2023.
Siri, add this to my list of (probably incorrect) predictions.
DELTA ⚓️
do you remember?
what’s old is new again.
projects like Alien Frens (📈50%), 3Landers (📈40%), SupDucks (📈50%), and Robotos (📈60%) have all seen upticks with the recent mini-run of the past week.
if you haven’t heard those names in a while…neither have we. but as NFTs have proved to us over the past year…time is a flat circle. history repeats itself over and over again.
so if that’s true, where should you be looking next?
I imagine we start seeing the money flow back out of these mid-tier projects into the ‘blue chips’ again. people will start claiming they’re “in it for the art”, founders will come out of the woodwork after a long winter’s nap, and order will be restored (if only temporarily) to the NFT world.
so get into those projects while you can. right now, Doodles seem more undervalued than most of those blue-chippers…as people are fearful of this Doodles 2 launch.
and where there’s fear there is opportunity.
see you on Thursday.