Zima Red gives readers the weekly pulse on the biggest news around NFTs. Join our community and take the journey with us by subscribing here:
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Dilips insane background playing poker, being a high-frequency trader, working with Jed McCaleb at Stellar (For those who don’t know, Jed is the founder of Mt Gox and Ripple)
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Market structure and how to generate an edge
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Algorithmic NFT trading
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How web3 games will have to battle against advanced bots
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How NFTs are the “real estate” of the metaverse
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The potential for NFT lending markets For all those that want to learn about market structure, alpha, HFT and more
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Greg Isenberg is the founder of Late Checkout which is a product studio, design agency, and fund
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Greg’s background in founding and selling multiple companies
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Why community-based businesses are the best
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Why people connect with IP, brands, and characters
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How to build a great product
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Why design is ultra important in web3
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How Late Checkout is the Berkshire Hathaway of community-based products
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WeMeta is a virtual land marketplace that has a deep focus on data and analytics.
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How data science can be used for NFT alpha
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How virtual worlds will survive and thrive on engagement
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How discoverability drives value
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How NFTs are access points that enable open-ended functionality
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How early we are and what potential these platforms have
After reaching a local top in January, the NFT market volume declined through February and early – March. It appears that the market may now be beginning to course correct.
While the trading volume is down from January, the number of trades and unique traders is increasing, pointing to a maturing market.
“All in all, the market is consolidating and is primed for an excellent year”
– Pedro Hererra, senior data analyst at DappRadar via Decrypt
Q1 NFT market stats:
The Los Angeles-based restaurateur, Andy Nguyen, has leveraged the IP of his Bored Ape NFT and two Mutant Ape NFTs to launch a Bored Ape Yacht Club-themed restaurant in Long Beach, California called Bored and Hungry.
The restaurant is a Smashburger-themed pop-up featuring Bored Ape branding throughout its interior and cups, wrappers, etc. Bored and Hungry gives exclusive perks to BAYC & MAYC holders like free food and merch. The pop-up is also accepting both ETH and ApeCoin as payment in addition to credit/debit.
The founders of what most consider to be the OG bitcoin exchange, Mt.Gox, are airdropping NFTs to its former users. The exchange’s users were famously collectively robbed of 25,000 BTC ($400,000 then… ~$8 billion now…).
To be eligible for the airdrop you need to go through a verification process to prove you were an Mt.Gox user from 2010 to 2014.
Most brands are merely experimenting with NFTs and are yet to fully incorporate them into their business models. Although true, this list shows that these experiments have been plentiful.
Remember the McDonald’s McRib NFT or the Dave and Busters Coin?
The Gh0stlyGh0sts collection included a total of 7,710 NFTs that were free to mint on all Layer Zero compatible blockchains including Ethereum, Binance, Avalanche, Polygon, Arbitrum, Fantom, and Optimism.
Layer zero
A Canada-based company, LayerZero Labs, developed an omnichain interoperability protocol called LayerZero. LayerZero’s goal is to allow dApps and NFTs to operate across multiple blockchains
Gh0stlyGh0sts
An NFT from this collection can be fully moved across different chains, the first to be able to do this.
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The project is Creative Commons Zero (CC0)
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The NFT’s background reflects the chain it was originally minted on
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Its border changes to its current chain
1 more thing
Collectors usually go crazy for NFTs labeled as the first in a particular category. However, Gh0stlyGh0sts appear to be off to a slow start for whatever reason. This begs the question of if the narrative around being first is actually overplayed now.
Check out this dashboard for stats on the collection.
The deal will open up NFTs of MLS players to Sorare’s 1.5M registered managers.
Despite suffering one of the largest hacks in the history of crypto, over $600M, the Axie team still released Axie Infinity: Origin on April 7th.
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The game is free-to-play and mint to be more accessible
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The original Axie Infinity game has more than 1.5M DAUs but requires significant startup costs that price out many new players.
Crabada is the largest P2E game on the Avalanche network, accounting for ~16% of the chain’s gas fees as of March 2022.
The hack allowed unverified addresses to be added to the daily ICE drop.
The Decentral team is also onboarding community volunteers to test its mobile rollout of ICE Poker.
The leading Hip-Hop curator, Lyrical Lemonade, made its web3 debut with a genesis collection of 500 utility NFTs granting:
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Whitelist spots for every future L3MON release
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Access to Lyrical Lemonade’s annual Summer Smash music festival for 3 years
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Access to exclusive Lyrical Lemonade merchandise drops
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Private Discord access
Sky Mavis ($150M) – Funds to reimburse those affected by the Ronin validator hack. Led by Binance with participation from Animoca Brands, a16z, Dialectic, and Paradigm.
GOALS ($15M) – A blockchain-based version of FIFA. The round included participation from Northzone, Cherry Ventures, Moonfire Ventures, Gerard Pique, and Nicolas Julia.
Polemos ($14M) – A global ‘Play-to-Earn’ Guild. Includes participation from Delphi Digital, QCP Capital, Framework Ventures, GoldenTree Asset Management, IOSG Ventures, and LD Capital.
Dank Bank ($4.2M) – A NFT trading platform for memes and viral videos. Participation from Mechanism Capital, SamsungNext, Balaji Srinivasan, Morningstar Ventures, Starry Night Capital, Kyros Ventures, and Cryptopathic.
OnePlanet ($3.35M) – Helping to build NFTs on Terra. Participation from SkyVision Capital, SNOW, Pala, Hashed, Animoca Brands, Galaxy Interactive, Edimus, GT Capital, HYPESALT, and Verse2.
FWB – In the Future of Fashion, Everyone gets paid
Fast Company – How Epic Games is changing gaming—and maybe the metaverse
Harvard Business Review – How DAOs Could Change the Way We Work
Miles Jennings/a16z – Decentralization for Web3 Builders: Principles, Models, How
Cryptohunt – Every crypto project ranked, explained, and reviewed. Still in private beta.
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