Page One #55
It’s been a pretty slow week around these parts. Seas of red adorn the Blur boards as collections are dumped into bidders who dump into other bidders.
But nobody cares at the moment - it’s Arbitrum day. A cool nine figures of magic internet money is set to appear out of thin air. Where it’s headed next is anyone’s guess - here’s hoping its your bags.
As always, thanks for reading, let me know what I missed on Twitter and hit the button below to come hang out.
TLDR:
News and Notes:
Cryptopunks are farmed to the top of volume charts
DEADROP opens the Tower for pre-alpha access
Metadrop has a new look and a new strategy
TreasureDAO receives joint-largest Arbitrum airdrop
Twelvefold sees lackluster volume on secondary markets
Recent Launches:
DeGods’ Bitcoin resurrection went quite well
Fellowship Patron Pass provides Post Photography benefits
HV-MTLs were summoned from Sewer Passes
Sotheby’s hosts first Digitally Native auctions
Upcoming Launches:
DenDekaDen details upcoming Spirit Key avatars
EVE Online developers CCP Games embrace the blockchain
Reddit Gen 3 Avatars are coming soon(ish)
News and Notes:
Cryptopunks are farmed to the top of volume charts
Two weeks ago, Wrapped Cryptopunks became tradable on Blur. This week, the collection saw over 85,000Ξ in volume as farmers bid the collection above 70Ξ floor - before dumping it back to ~60Ξ. Professional money burner Machi Big Brother accumulated well over 100 as he and other farmers were drawn towards Punks’ high floor and zero royalty fee. Blur’s (situationally) deep liquidity was demonstrated again when someone dumped 80 Punks into bids and sent the floor down 9Ξ. At this point, it’s clear than any pump created by bids is at risk of being dumped just as quickly. As usual, hat-tip to NFTstatistics.eth who follows these moves in real time.
DEADROP opens the Tower for pre-alpha access
Led by streamer extraordinaire Dr. Disrespect, the team at Midnight Society unveiled their plans for an extraction shooter (a la Escape from Tarkov) powered by blockchain tech last year. The game entered pre-alpha last week and welcomed gamers with a variety of streams and tournaments. Holders of their Founder’s Pass collection are can play for free, while others can purchase a Tower Key for $25 to access the pre-alpha, among other benefits. There’s a lot going on - read more about the game here.
DEADROP aims to give players true control over their in-game assets - the guns, cosmetics and miscellaneous items extracted by players will eventually take the form of tradable NFTs on Polygon. With 4.3M YouTube subscribers, a decade of experience, and the respect of the industry on his side, Dr. Disrespect hopes to show normal gamers the benefits of the blockchain.
Metadrop has a new look and a new strategy
Those who have been here for a while remember Metadrop, the forward-auction platform that hosted mints for Anata, Wassies and Webaverse, among others. Yesterday the NFT drop site announced its next chapter: more mints, increased discoverability and, notably, a rewards program. Minters will earn Drop Rewards points for participating in a release, with bonuses available for minting 3 or more projects or finishing on the leaderboard. Exactly what these Drop Rewards points do is still unknown, but it’s an idea with potential. A platform that rewards minters while facilitating project releases on the creator side certainly has a place in the market - if done well.
TreasureDAO receives joint-largest Arbitrum airdrop
Early supporters of Arbitrum were rewarded today as the Layer 2 chain airdrops its native token to users and organizations alike. Few organizations were earlier than Treasure, the gaming ecosystem founded by John Patten and friends in September 2021. Arbitrum is distributing a portion of its governance tokens to DAOs on the chain with hopes that they can re-distribute it to their communities.
TreasureDAO is set to receive 8,000,000 Arbitrum tokens, holding the joint-top spot alongside GMX. A variety of factors, including TVL, activity, and transaction volume, were used to determine how much each DAO received. While it’s not yet known how each DAO will re-distribute these tokens, you can likely expect some gameification from the Treasure crew - it’s what they do best.
Twelvefold sees lackluster volume on secondary markets
The first secondary sales for Yuga’s 300 piece art collection came last week on the 16th after the Ordinals were distributed to auction buyers. Since then, there have been only 15 sales (according to Ordinals.Market - there may have been more on other, segmented markets) for a total of ~460Ξ - many of which were below the lowest price paid at auction. The floor currently sits at 32Ξ or ~2 BTC. While its anyone’s guess how these perform over the long run, Twelvefold continues to look like one of Yuga’s most questionable endeavors to date.
32Ξ floor | 300 supply | >2.25 BTC auction price | auctioned 3-7-23
Other Stuff Happened
Kanpai Pandas set to launch(?) Panda Points program today
LinksDAO’s bid for the Scotland golf course was accepted
Mocaverse details their Moca XP staking system
The Otherside announces team captains for the Second Trip
Rug Radio launches Stubs listening rewards program
Stealcam lets you share, steal and reveal pictures with your friends
Recent Launches:
DeGods’ Bitcoin resurrection went quite well
535 DeGods were lost to the Paperhand Bitch Tax back in the day, but have now been resurrected on Bitcoin. They were released in a first-come first-serve sale on the 17th and sold out quickly despite the 0.333 BTC price tag. They partnered with Bitcoin Bandits to facilitate OTC trading in their Discord, although Magic Eden’s Ordinals marketplace offers a comfortable alternative. All 535 inscriptions were made in the same Bitcoin block, something that had not been done before. Since release, there have been 112 OTC sales for a total volume of 103 BTC and 10 sales on Magic Eden for ~11 BTC of volume.
1.04 BTC floor | 535 supply | 0.333 BTC mint | minted 3-17-23
Magic Eden | Twitter | Discord | Website
Fellowship Patron Pass provides Post Photography benefits
As discussed here a few weeks ago, Fellowship held their Patron Pass auction on the 16th in a Dutch auction that sold out around 0.2Ξ. The Patron Pass grants holders early access to three Group Shows over the next 12 months, the first of which features Life in West America artist Roope Rainisto on April 6th and 7th, as well as other benefits. Designed in a minimalistic fashion, each Patron Pass evolves as it is traded and used - one dot is added for each trade and one square is added for each mint pass use. The collection saw sales above 1Ξ after sell out.
HV-MTLs were summoned from Sewer Passes
Yuga opened The Summoning on March 15th, welcoming Sewer Pass holders to redeem theirs for an HV-MTL power source of corresponding rarity. There are 7 different types of HVs (8 counting the Legendary 1/1), Glitch being the most common and Holo (24Ξ floor) the rarest. There’s no rush to mint your HV-MTL, as the claim will be open indefinitely. ~4,300 Sewer Passes that were unclaimed or ineligible were minted by Yuga and will be held until the next mini-game. Each HV will presumably reveal a Mech sometime in late March, so look out for more details as the arrive.
Sotheby’s hosts first Digitally Native auctions
The storied auction house is currently hosting its inaugural digital art and NFT auction. The online auction, titled Oddly Satisfying, features a 58 pieces by a variety of well known cryptoartists like Bryan Brinkman, MarkTheHabibi and RAC. Each artist was tasked with exploring the theme of “oddly satisfying video,” and each piece falls within one of four themed groupings - the Masters of Loops, the Hyperrealist Renderers, the Physics Simulators, or the Hybrid Animators. It’s encouraging to see Sotheby’s continue curating digital art, as the auction house provides connection to the traditional art world.
Upcoming Launches:
DenDekaDen details upcoming Spirit Key avatars
In a three-part announcement, Toei Animation’s DenDekaDen summarized the project so far, detailed the Spirit Key avatars, and discussed their vision for the future. The 7,777 Spirit Keys unlock their Avatar Platform. Each avatar has fixed traits, customizable traits, and equipable traits. Customizable traits allow holders to change the features of their avatar at any time, including the eyes, nose, hair, mouth and gender, offering a level of personalization not usually seen in avatar projects while maintaining rarities through fixed traits like accessories. The Spirit Key mint will begin on April 2 when Keys are airdropped to Genesis Omikuji holders based on their fortune - check the full mint schedule here.
EVE Online developers CCP Games embrace the blockchain
On Tuesday, CCP Games announced the completion of a $40M funding round led by a16z for an “innovative new AAA game” that will be utilizing blockchain technology. The creators of spacefaring MMO EVE Online have plenty of experience creating sprawling virtual universes with complex economies and mechanics, as EVE has been up and running since 2003. In an interview with VentureBeat, CCP Games CEO Hilmar Veigar Péturrson discussed how he and his teams have watched blockchain games and assets grow since CryptoKitties. While the new project is set in the EVE universe, it will be separate from their existing titles. Not much else is known, but it’s true, what they say - the real game developers are coming.
Reddit Gen 3 Avatars are coming soon(ish)
Launched in Summer 2021, Reddit’s collectible avatars program has been a huge success. Over 6M wallets have been created by Reddit users and some avatars fetched hefty prices during the boom last September (which we discussed here). While an official announcement about the third generation of Avatars has not yet been made, word has gotten out that it will be released rather soon. Various artists have confirmed their participation in the collection, including some who previously made avatars in Gen 1 or 2. Keep an eye on the r/CollectibleAvatars subreddit for more details as they are announced.
Supply TBA | varied mint prices | minting soon(ish?)
Other Stuff Happened
The Devs are the first project to release on the revamped Metadrop
FewoWorld receives another teaser trailer ahead of Humanoids
SK8PES is pro skater and DGK founder Stevie Williams’ upcoming project
9dcc IT-03 drops on March 24th
More Stuff Happened
Magic Eden launched their own Ordinals marketplace
Metalink, Web3 social platform, launches mobile app
Sony files patents for cross-platform NFT trading framework
As a reminder, the P1 team consisting of myself, MoonOverlord, terv & boffin are always reachable at contact@pageone.gg. If you want to contact us in regards to sponsoring the newsletter, pitch a guest post, tell us about your protocol or to collaborate on anything in general, you can always reach us there or @PageOneGG.
Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions.