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⚓️ what are ordinals?
and we pour one out for EtherOrcs
so this is cool…I have some allow list spots to give away today. my buddy ATown is hooking up BivNFT readers as he preps to drop a project in March called The Grumbies:
it’ll be an official OpenSea drop…and I’m gifting a spot to each of the first (5) readers who reply to this email with their wallet address.
go fast! (but also please continue reading)
the NFT excavatooors are back.
remember when Gary Vee was going through old Ethereum projects and buying them because they were “historical” NFTs?
well…this week, BitMex found something that definitely has Gary kicking himself…Bitcoin NFTs.
yes apparently, he was looking on the wrong chain, because not only it is *possible* to have Bitcoin NFTs, it was actually done…in the form of Ordinals.
in 2017, some sad sacks spent 6.77 BTC on these Ordinals. while it’s not buying pizza with Bitcoin bad, it certainly has to hurt to know you spend ~$120K in today’s value on the *wrong* JPGs.
luckily for Ordinal holders though, there has been *some* resurgence with this rediscovery. as you can imagine all the NFT archeologists have come out of the woodwork to ape into these wizards and other Ordinal NFTs.
I’ll continue to do research for us and see if these indeed catch on…but honestly, my brain is already at capacity with a lot of other *dumb* information (on NFTs in particular).
I in good faith can’t commit any more space in there for the whole world of Bitcoin NFTs.
so maybe I’ll just continue to obliviously live in the world where CryptoPunks is the only major historical NFT project.
let’s pour one out for EtherOrcs.
you’ll hear no FUD from me. the decision by poof and the team to pull the plug on the project is more than warranted. they were one of the space’s first (and most successful) free mints…before that was even the cool thing to do.
with limited resources, sometimes it just makes *more* sense to focus your attention elsewhere. (couldn’t be me, I’m still writing this newsletter for free).
the EtherOrcs crew did some great building in their time…both with the game and their community…who I feel the worst for right now. they were diehards and the price floor has tanked in wake of this news.
while handled with a lot of thought…it’s still hard to see what *exactly* the future holds for this now CC0’ed project. hoping it pulls through and the community can take on the continued success of this project…but it doesn’t look great.
EtherOrcs might just become yet another relic of an NFT past cycle.
building an empire
yay for supporting indie marketplaces.
while Opensea may have a monopoly (though Blur is on its butt), they are still a kind and generous (market) leader.
they’ll now start aggregating 3 marketplaces with a very particular focus into their OpenSea UI…Sansa for Art Blocks, ENS Vision for domains, and SoundXYZ for music NFTs.
step aside OpenSea and let the experts handle it from here…I for one can’t wait to tell them about Pokemon ENS.
NFT index coin
at long last, we have an NFT ETF (basically).
(should we call it an NFETF? it certainly has more ring to it than an “NFT total market cap token”. we’ll workshop this one…)
think of JPEGz as an index fund for people who don’t want to commit to NFTs, but also don’t want the security of sustained growth over time.
JPEGz is made up of 10 NFT projects that Cryptex thinks “make up” the NFT market:
Bored Ape Yacht Club (duh)
CryptoPunks (also duh)
Mutant Ape Yacht Club (ok)
Vee Friends (all right)
Cool Cats (you sure?)
World of Women (hold on)
CrypToads (should have been CryptoDickButts)
see you Tuesday.