Page One #35
The Gang Learns Sudoswap. August 10 - August 16
It is not the easiest time to find NFT things to write about so bare with me this week. Thanks for reading, come hang out and let me know what I missed on Twitter.
TLDR:
8liens top volume charts but sink after reveal
Altered State Machine begins minting Gen II Brains
CryptoPunks & Meebits get new IP rights agreements
Finiliar is a living NFT that gets sad when you lose money
Huxley expands avatar selection with Humans collection
NFTiff redemption window closes with 32 unredeemed
The Potatoz (and Memeland) will soon grow
Pudgy Penguins pick toy store representatives
RENGA holds raffle for remaining supply this weekend
Sudo Inu and Sudolets headline the Sudo meta
y00ts do things differently, from allowlists to customization
News and Notes:
8liens top volume charts but sink after reveal
After a week of trading that saw that over 6,000Ξ in volume and a high floor price of ~0.9Ξ, the 8liens have declined over the past few days. The collection features 1/1s from popular and up-and-coming cryptoartists including ACK, Gremplin and Hackatao. Its decline likely speaks more to the state of the current market than the state of the project - despite topping weekly volume charts, maintaining any kind of attention is difficult at the moment.
CryptoPunks & Meebits get new IP rights agreements
After being acquired by Yuga Labs in late 2021, CryptoPunks and Meebits have received an updated IP rights agreement. The new agreements - read Punks here and Meebits here - are very similar, each granting the holder of said NFT a license to use their token’s artwork in commercial endeavors. The agreement stops short of granting the token holder ownership of said IP, with those rights instead remaining with Yuga Labs. Meebits also welcomed Danny Greene as their new Brand Lead.
Punks: 73Ξ floor | 9,999 supply | free mint
Meebits: 4Ξ floor | 20,000 supply | 3Ξ mint | minted 5-3-21
NFTiff redemption window closes with 32 unredeemed
Tiffany’s debut NFT project has been an interesting ride. After minting for 30Ξ, the project quickly went below mint on secondary markets. While anyone could mint an NFTiff, only CryptoPunk holders could redeem the token for a real pendant - and they only had one week to do so. This constricted timeline certainly contributed to their secondary price. 218 of the 250 tokens were redeemed for the pendant, leaving 32 unredeemed. It’s unknown whether these unredeemed NFTiffs will hold some kind of utility in the future, but for now it leaves their strategy looking a bit questionable.
The Potatoz (and Memeland) will soon grow
In a tweet posted last Friday, Memeland shared a few more details about the upcoming stake-to-win feature of the Potatoz collection. The contract is ready pending an audit and their website has been updated with a new dashboard and a variety of FAQs. Holders will stake their Potatoz (without transferring their tokens, similar to Moonbirds’ nesting) earn tickets for the weekly prize draw and evolve them into the next stage. 9gagceo also confirmed a recently created Twitter account, Petsland, is related to Memeland, but did not share any other details. Expect Potatoz staking to go live sometime this week.
Pudgy Penguins pick toy store representatives
Holders were welcomed to submit their penguins to be considered for use in the first collection of Pudgy Toys a few weeks ago. The team has selected which penguins will be part of the collection, all of which will be directly licensed from holders who own their IP. Alongside this announcement, the team airdropped a second Soulbound token. This token, called a penguPin, was airdropped to the 16 penguin holders chosen to participate in the toys collection. The Pudgies are leading the way in creating on-chain identity with Soulbound tokens (and price go up recently, too).
Recent Launches:
Altered State Machine begins minting Gen II Brains
ASM, one of the leaders in AI-infused NFTs, released their newest feature yesterday. Holders can now mine Gen II Brains by combining $ASTO and $LP tokens. Those who entered the genome mine for the Production Cycle in June can now mint their brains, while others can enter now and mint brains after mining for 60 days. ASM is an intricate ecosystem with a variety of moving parts - read this post for more on brain mining.
Sudo Inu and Sudolets headline the Sudo meta
After a weekend of debates regarding Sudoswap’s lack of royalty fees for artists , a variety of Sudo-themed projects took off on the AMM marketplace. Sudo Inu is exactly what it sounds like - an altcoin larping as an NFT, complete with matching token art for the whole set. Sudolets are a bit more interesting: a bizarre collection of geometric Pokemon-esque beasts. There isn’t a whole lot to either project yet, but their success has already spawned a copycats hoping to entertain those who missed out. If you hadn’t heard of Sudoswap by now, you certainly will after this week.
Upcoming Launches:
Finiliar is a living NFT that gets sad when you lose money
When Ethereum goes up, Finiliars are happy. Price oracles allow them to respond to fluctuations in the performance of their underlying currency. Their designs range from miniature knights to personified elements of fire and rain. Ed Fornieles, an artist who usually works with more traditional means, imagined the concept while at a residency program in 2016 and released the first 1,800 of 10,000 in January. The allowlist mint takes place Thursday at 12PM EST.
Huxley expands avatar selection with Humans collection
The big budget sci-fi universe will release its second avatar collection in phases starting tomorrow, August 17th. Each Huxley Robot holder can claim one Human while the remaining 1,000 tokens can be claimed in exchange for one Genesis Token. Genesis Tokens were acquired by burning comics - check out more on their tokenomics here.
RENGA holds raffle for remaining supply this weekend
Holders of artist Dirty Robot’s Art of Seasons first received their RENGA Black Boxes about two months. During that time, the team has begun crafting the RENGA universe through a comic shared on Twitter. On Friday afternoon, Premint raffle for the remaining supply of 2,500 tokens opened. The raffle closes at 7PM EST on the 19th and winners will be drawn on the 20th. While Dirty Robot and team haven’t yet announced a reveal date, one hopes it will be relatively soon following the mint.
y00ts do things differently, from allowlists to customization
And now for the rare Solana project. From the DeGods team comes y00ts, a project that has opted for iteration instead of imitation. While other projects reward those who grind on Discord, y00ts has created a Scholarship application for potential holders - connect your wallet and Twitter, answer a few questions and wait to see if you’re selected. They’ve also set out to reimagine avatar customization and ownership through the y00ts store. Artists can submit custom traits to the y00ts store where, if chosen, they will be sold for a limited time with artists collecting a percentage of sales revenue. This concept is still being worked out, but you can read more of their ideas here. y00ts will cost 375 $DUST, DeGod’s native token.
Sudoswap: the on-chain marketplace
Sudoswap is an on-chain AMM marketplace. It functions similarly to Uniswap or any other decentralized exchange: tokens are placed in a pool and balanced in accordance with that pool’s rules. Pools can have a linear or exponential structure and a few other factors impact the performance of each particular pool. The marketplace was launched in early July and has gotten some buzz lately.
Over the past week, Sudo has seen about ~13,000 transactions accounting for 4,000Ξ in volume. Over 4,000 traders used Sudoswap for the first time this week, about half of their all-time users. Compare these numbers to X2Y2, the marketplace currently leading the race for second place, which saw ~8,000Ξ of volume from ~40,000 transactions. While Sudo may not keep up this pace, it’s easy to imagine them becoming a true competitor - especially considering they’ve not yet been integrated with aggregators like Gem and Genie.
Sudoswap also has a lot of growing to do, both on the technical side and the community side. Since someone must make a pool before a collection can trade on Sudo, many collections aren’t available there. Over the weekend, users participating in mints through Sudo piled up failed transactions - whether this is due to user error, pool design errors or backend issues, it reemphasized that NFT AMMs are still rather uncharted territory that might need some patching up. Still, it will be exciting to watch this develop over the coming months.
Other Stuff Happened/ing
NFTs:
gmoney discusses his upcoming luxury fashion label with Vogue Business
PREMINT implements two changes to reduce botting
PROOF Grails II claims go live today
Shinsei Galverse publishes latest edition of their manga
General News:
Ethereum Merge is scheduled for September 15/16
Gem plans to add Sudoswap in next rollout of upgrades
Magic Eden x APE Coin proposal ruffles some feathers
Pinata, NFT Infrastructure company, raises $21.5M
PwC publishes 2022 Metaverse Survey
OpenSea introduces new policy for stolen assets