Page One #57
NFT Market Recap. April 7 - April 26
Hello again friends. It hasn’t been a bad three weeks for me to be MIA given that the jpeg market feels slower than it has since the depths of last summer. Most degens were happily distracted from the world of pictures for a week or two with memecoins anyway, but they’ll surely return.
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
10KTF G-Tags are the key to a new avatar collection
ALTS by adidas take holders on an evolving journey
Azuki shows strength ahead of Las Vegas event
Captainz reach new highs as holders wait for $MEME
Notable Pepes Series 1 reaches a fitting conclusion
Opepen evolves from style into symbol (with AI assistance)
Recent Launches
Mad Lads reignite excitement on Solana
Moonbirds Mythics will begin hatching in June
Otherdeeds expand ahead of Legends of Mara
Reddit Gen 3 Avatars sell out despite technical difficulties
Upcoming Launches
Life in Japan 2 by Grant Yun mints today
Nike Our Force 1 brings digital kicks to the masses
SK8PES is pro skater Stevie Williams’ next trick
News and Notes:
10KTF G-Tags are the key to a new avatar collection
Rumors about a 10KTF PFP have swirled for months and were finally confirmed on April 13th. G-Tags, a previously mysterious token earned by recycling Genesis 10KTF assets, will become the avatar. No further details were announced. 10KTF is an intricate ecosystem with a variety of collections and its anyones guess whether other ecosystem tokens will play a role in the PFP mint process.
The PFP collection is the most impactful announcement from the project since it was acquired by Yuga Labs last November. Things appear to be ramping up, though, as they announced a collaboration with PUMA earlier this week. Learn more about the 10KTF ecosystem from this community-created guide.
ALTS by adidas take holders on an evolving journey
adidas entered the NFT space in December 2021 with their Into the Metaverse collection and continued experimenting with the release of Virtual Gear last November. With ALTS, they step into the avatar arena in a creative way. After burning an Into the Metaverse and receiving an ALT, holders are assigned one of eight ALT[er] Egos that are linked to different sports/lifestyle genres including basketball, music and fashion.
While all ALTS receive baseline utility benefits like premium access to the adidas Collect platform, each ALT[er] Ego has specific benefits tailored to their genre. Details are being rolled out over time in “chapters” and any ALTS have not chosen an Ego will be assigned one on May 1. adidas also completed their first token-gated merch drop on the 26th.
Azuki shows strength ahead of Las Vegas event
While the NFT market at large has continued to bleed, Azuki continues to differentiate from the crowd. The floor price briefly reached $35,000 in mid-April while 10 grails have sold for over 160Ξ in the past 30 days. While they opted to skip NFT NYC in favor of their own event in Las Vegas this June, BEANZ made an appearance in Times Square on the 12th as they announced a partnership with LINE FRIENDS, a global IP platform that started as stickers on the LINE messaging app. Things are going quite well in the Garden.
Captainz reach new highs as holders wait for $MEME
More than three months after minting, Memeland’s Captainz sit just below their all-time high floor price - with Potatoz and MVP following. While other projects have lost the attention of their communities, Memeland has maintained continued engagement that’s partially attributable to their lengthy, staged reveal process which is still in progress.
An array of other initiatives are in progress, including Treasure Island, Holders.com, GMGM.com, Stakeland and Petsland, providing the team with plenty of attention-grabbing details to announce. At the center of the ecosystem sits Memecoin, their native token, which is yet to receive a release date. For more info on the expansive ecosystem, check out this interview with 9GAG CEO Ray Chan from Overpriced JPEGs.
Notable Pepes Series 1 reaches a fitting conclusion
When Vincent Van Dough releases Pepe Checks in early February at the peak of Open Edition season, no one knew what the esoteric Pepe collector had planned. Since then, VVD has ushered in the beginning of the next era of Pepe meme cards. Over two months, the Notable Pepes team curated 50 cards from a diverse array of cryptoartists and raffled them off to Pepe Checks holders each week.
Series 1 saw works from OG Pepe artists like Darkfarms, emerging meme masters like Batdzu, popular artists like OSF and Terrell Jones and even a guest appearance from Arthur Hayes. But given that Notable Pepes began with an homage to his Checks, it only seemed right that it concluded with a card from Jack Butcher. Series 2 kicks off on May 7th; artists can submit works for consideration now.
Varying floor price and supply | 0.069Ξ mint | minted 2-26-23 thru 4-23-23
Opepen evolves from style into symbol (with AI assistance)
Through rambling, radically transparent threads, the NFT community has watched Jack Butcher’s Opepen Edition transformed from a geometric meme into something more. Not content to fill the now-iconic Opepen shape with a singular style, Butcher and co. have designed a collection unlike any before it by using AI.
OpepenAI avatars are divided into 200 drops which each reveal 80 avatars. Each “pack” of 80 will contain 6 artworks with rarities structured on the same semi-perfect pattern that used in Checks - one 1/1 and editions of 4, 5, 10, 20 and 40. This essentially creates 200 subcollections, each with a different theme. Edition sizes were revealed on the 21st and drops are set to begin this week.
Butcher stated he hopes to have many contributors assist in the creation and curation of the 200 packs, including artist collabs and community creations. As usual, stay tuned to Jack’s Twitter for more info as its announced.
Other Stuff Happened:
Chimpers introduced new arcade contest, Quack Quest
Kanpai Pandas will complete their mint on Solana
Miladys in control
Nakamigos “are only half the story” according to founders
Pixelmon surged after releasing a new strategic whitepaper
77-Bit launched their first dungeon, Darknet, yesterday
Sponsored Content:
Today’s article is sponsored by Flip, the NFT platform made to help you navigate NFTs with ease. Discover, curate, and buy NFTs all in one place. Follow Flip on Twitter to stay updated as they continue to roll out new content and features.
Recent Launches:
Mad Lads reignite excitement on Solana
The highly anticipated avatar collection from the Backpack team (previewed here in January) minted on the 21st after a one-day delay due to DDOS attacks. The mint took place inside the Backpack wallet and although many experienced some difficulties, the mint went smoothly. Botters were redirected to a honeypot contract and their funds were returned.
A Peaky Blinders-esque look permeates the diverse collection which revealed soon after mint and has seen its female avatars sell for a healthy premium above the floor. The Lads had the most traded volume of any collection on Ethereum or Solana over the weekend and have seen over 830,000 in volume so far.
A potential contender to step up and fill the void left by DeGods and y00ts at the top of the Solana NFT market is exciting on its own. Pairing said contender with the lofty ambitions of the talented team at Backpack creates something to write home about. Read more details in threads from Solana Legend and Metaversal.
92◎ floor | 10,000 supply | 6.9◎ mint | minted 4-21-23
Moonbirds Mythics will begin hatching in June
The expansion collection first announced last summer has an unorthodox distribution design. Moonbirds in Diamond nests have been eligible to claim a Mythics egg since April 17th and so far, 4,095 have done so. Once “The Hearth of the Odd God” comes online in early June, 50 eggs will be randomly selected each day to be revealed. At that time, up to 50 Oddities may be burned in exchange for a Mythic per day.
Elsewhere in the PROOF ecosystem, the Diamond Exhibition kicks off today and features artists including 0xdgb, Beeple and DirtyRobot. They also announced nesting will be phased out and replaced with Talons, a rewards points system similar to those used by Kanpai Pandas and y00ts.
Otherdeeds expand ahead of Legends of Mara
On April 5th, Otherdeed holders were invited to claim their Vessel and decouple their Kodas as Yuga begins revealing details about how each item will be used within the upcoming Legends of Mara game. So far, they’ve explained Vessel nesting and how each Otherdeed’s environmental tiers will dictate worker capacity in their newly launched gaming blog. Prepare your spreadsheets because it seems like things are about to get complicated.
So far, nearly 40,000 Otherdeeds have claimed their Vessel and expanded Otherdeed. Expanded Otherdeeds and Vessels are required to participate in Legends of Mara, which doesn’t yet have a release date. Elsewhere in the Yugaverse, the HV-MTL reveal and subsequent events were delayed one month and are now set to start in May.
Kodas: 7.87Ξ floor | 10,000 supply | 305 APE mint | minted 4-30-22
Reddit Gen 3 Avatars sell out despite technical difficulties
The third generation of Reddit Collectible Avatars went on sale on April 11th. Gen3 contains hundred of thousands of avatars created by over 100 artists different artists including Nyan Cat creator Chris and Gen1 favorite Rojom. Each avatar had between 5,000 and 125 editions; higher-supply avatars sold for as little as $5 while the lower-supply avatars fetched $200. Traffic on release day brought down the Reddit Shop, but many avatars are still available for purchase today.
Details around total supply, sales and other data are difficult to locate, but according to this Dune Dashboard, Gen3 has seen nearly $3M in total volume while total Colletible Avatar holders eclipsed 8,000,000 earlier this week.
As a disclaimer - I’m no Dune wizard, but I am a bit skeptical of some of the numbers in this dashboard. Unfortunately it was the best I found.
Varying floor and supply | $5 - $200 mint | minted 4-11-23
Other Stuff Happened:
Cool Cats introduce Shadow Wolves, announce partnership with Futureverse
Killacubs redeploy contract after transfer bug is found post-mint
Trump Digital Trading Cards Series 2 released, sending Series 1 prices down
Upcoming Launches:
Life in Japan 2 by Grant Yun mints today
A self-described neo-precisionist, Grant Yun’s simplistic illustrated style has become one of the most recognizable in the space. His works have featured in Fake Rares, Meme Cards, PROOF Grails and Sotheby’s auctions, among a host of other places. His latest edition, Life in Japan 2, is titled The Road Ahead and expands upon the May 2022 edition Life in Japan, Schools & Apartments. The mint takes place tonight at 6:30 PM EST on NiftyGateway. Schools & Apartments holders are eligible to mint The Road Ahead and then have 24 hours to burn the two pieces, creating one combined depiction of life in Japan.
Nike Our Force 1 brings digital kicks to the masses
After acquiring RTFKT in December 2021 and launching .SWOOSH last November, it was clear Nike had big plans for digital creations. The Our Force 1 collection is the next step in said plans, as it is set to introduce the +330,000 .SWOOSH members to the glory of virtual assets. The collection is made up of digital AF1’s of past, present and future which will grant holders benefits including access to exclusive physical and digital products or experiences. 106,453 members received poster airdrops last week which give them first access to the mint on May 8th; all other .SWOOSH members can purchase OF1s on May 10th.
SK8PES is pro skater Stevie Williams’ next trick
Stevie Williams has been active in the professional skateboarding world since 1999. He founded DGK with fellow skater Troy Morgan in the early 2000’s and built the company into a notable clothing brand and skate team. Now that he’s spending less time on the board, the original Dirty Ghetto Kid hopes to make his mark on web3 culture with his recently announced project SK8PES. While there aren’t many details yet, Williams says he’s been working on the project for over a year and plans to announced something tomorrow, April 28th.
Price, supply and date TBA
Other Stuff Happening:
Ether founder CV says “Ether game coming soon”
Parallel teases their Avatar collection, amongst other things
Symbiogenesis previews their avatar art for the first time
NFT Market Overview:
It’s not looking good bruv. It hasn’t been for a while. The charts below - volume, sales, wallets and Nansen’s NFT-500 index - all tell a similar story. After the Blur stimulus gave the market a fresh injection of liquidity, traders have spent the last few months giving it all back.
Volume, sales and unique wallets all reached multi-month lows over the past few weeks, but the slow and steady decline of the NFT-500 index illustrates our situation best. While the Blur debate rages on and reply guys bemoan the continued incentivization of bidding, it is clear that there are very few market participants willing to purchase and hold expensive NFTs at current prices. Whether that is because the assets are overvalued or because buyers know bidders will dump on their heads is up for debate.
More Stuff Happened/ing
3AC’s extravagant NFT collection will be auctioned at Sotheby’s
Blur had a bug that briefly allowed cancelled bids to be accepted
DefiLlama now tracks and charts NFTs
Mastercard releases NFT that grants access to its Artist Accelerator
NFTfi introduces rewards program
As a reminder, the P1 team consisting of myself, MoonOverlord, tolks & 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. Any sponsored content is not an endorsement - always do your own research.