⚓️ sewer passes are live
and what happened with Nat Geo NFTs
I’ve decided to enter the year with a little more *edge*.
if this were a movie, I’d start wearing leather jackets. maybe one with spikes on it!
then, I’d start lacing my newsletter with profanities. “NGMI!”
I’d have a toothpick in my mouth. in fact, now that you mention it, I *am* starting to look like an NFT with these new generative traits.
oh no…it’s out with the captain’s hat…and in with the punk hair.
(this isn’t happening yet, but I’m certainly trending that way in 2023. my villain arc will begin soon enough!)
Sewer Passes start minting
the Sewer Pass mint went live yesterday…a day later than anticipated.
yes…the unassailable Yuga Labs had an uncharacteristic slip-up. and even if was only less than a day, initially…the market didn’t respond well. Apes and particularly the Kennel Club Dogs dipped overnight.
but when push came to shove, the frothiness of a Yuga drop was too much for the speculatooors to *pass* up. once the passes dropped on Wednesday morning, the market didn’t hesitate to go all in on the Dooky Dash tickets. they’ve done over 6500 ETH in sales as I write this…with over 3000 ETH of those sales coming in the first two hours.
it’s understandable considering that Yuga airdrops have typically printed money for the Bored Apes contingent (couldn’t be me).
with one exception, of course…the Otherside.
while that was certainly a frenzy at the time (remember how much gas was and all the ETH that was sunk into it?), it’s cooled off as the time horizon for the game’s launch seems to be getting further and further away.
the Sewer Passes sit at a 1.45 ETH floor as I write this, while Otherdeeds are at 1.275 ETH price floor. people will point to the supply (Passes capped at 30K, Deeds at 100K with *maybe* 100K to come) to explain how the Passes flipped them so quickly.
however, I imagine it’s only a matter of time before people start *really* looking at those land plots…and start questioning what’s really going on here.
and either they’ll decide to FUD them again (not likely) or they’ll realize they’re undervalued after all. and if Yuga’s history has shown me anything…it’s that it’ll *probably* be the latter.
Nat Geo NFTs
speaking of delays…remember the days of failed drops?
a project would get all their ducks in a row and an unforeseen (or completely predictable problem like bots) would plague the mint day and leave a bad taste in everyone’s mouths.
well, that’s unfortunately what happened with National Geographic’s first NFT launch yesterday.
the market was there. everyone likely remembers those dope photos from the magazines at the school library and wanted in on their NFT action.
and ultimately, nostalgia sells. just look back on those Nickelodeon NFTs if you need further proof of that. not only that but it had some great photographers featured in the collection too.
so what happened?
unfortunately for Nat Geo a bad system (where you had to KYC and upload identification) led many people to simply give up when it was never verified.
a bad launch doesn’t necessarily mean a project is doomed. and I imagine it’ll still rebound nicely because of the brand recognition.
but you hate to see it happening again.
private beta for phantom wallet
ETH is coming to the Phantom wallet.
yes…adding to the betrayals of 2023…deGods and y00ts will be leaving Solana, and now the most popular Solana wallet will start supporting its mortal enemy Ethereum.
if you’re lucky enough, you have access to the private beta…which admittedly looks fantastic from what people have posted (Frank in particular *loves* it).
me? I’m more of a Rainbow guy…but that doesn’t mean I’m not excited to see the cross-chain functionality getting better day by day.
Pokemon ENS follow-up
after filling people in on what the deal with Pokemon ENS was…I had no choice but to join.
that’s because I had more people in my DMs the next day asking it about than if I would have said free feetpix. and that told me one thing: maybe there actually is an opportunity here.
I chose nymble.eth as a hedge. because yes, it *is* a Pokemon (a lowly bug-type from the 9th generation, ew) but more importantly, it also sounds like it could be a lame SaaS start-up.
I see it now…“Nymble raises $4 million in seed round”
but really, I’m simply bullish on ENS and the communities they’re forming all over the place right now. the Pokemon Trainer DAO is diehard and ultimately is already standing out to people across NFT Twitter. which is never a bad thing in this space.
see you Tuesday.