But let’s break it down together.
That opening can be summarized as Trigger Warning, basically testing the water on how far they can push it. They started with a super heavy version so they can then lighten it up and ‘’seem’’ better, or if it found no significant resistance try to cut in deeper.
They are openly stating that they have a positive/negative user distinction, and what user behavior is deemed negative by them will not be allowed to collect art on their platform.
To collect art on their platform is a privilege. That is reminiscent of the traditional closed art market. Of course, the reason for this change is for the benefit of the artists, sorry but I don’t buy it.
Feels like one can do whatever if they claim to do it for the benefit of the artists.
So how can someone dictate the reason why people buy art? How can that be defined and brought down to a simple, buy it only if you like it and want to hold it long term?
What does that have to do with anything? What if I feel a genuine connection to the artwork but not to the artist? Should I then take an esoteric journey to decide if I'm worthy enough to buy it? What if someone loves to sell art? How is that harmful or unhealthy?
Hmm @niftygateway by this line of reasoning should @muratpak not face repercussion for his recent piece literally titled "The Flipper"?— Piers Kicks 🧠🔌 (@pierskicks) January 7, 2021
May be construed as an endorsement of such activities..
Not sure this a great reflection of the ethos of the whole scene.
You know, rules. pic.twitter.com/6jA3n3vrSj
Here is the juicy part! Starting with a completely false statement passed on as a fact. Speculating is one of the most natural human behaviors. Why is it bad for the artist and the collector? Please elaborate more…
These guidelines go against the very ethos of blockchain and open markets, it tries to enforce controls over something that should be free within this system NG is becoming very reminiscent of art auction houses in the traditional market and deviating away from the very nature of the very medium it is built on.
100% Agree here.
The part about banning people for using bots, hacks and other means is absolutely fine and it’s encouraged. However, how can the platform dictate when people sell their assets, and also for how much?
Why is buying artwork with the purpose of reselling it bad? Isn’t that what galleries, auction houses, art traders around the world do?
Isn’t the reselling of the Artwork creating this whole appreciation property that art has? Someone making a 10$ profit means that another community member bought something with just a 10$ overhead, which is great. I would argue that the guy who sold for 10$ profit got the short end of the stick there.
Banning people for flipping art and then offer drops at 1$ is contradictory.
When I read these guidelines, I went on their discord server to give feedback as the guidelines suggested.
I was banned for stating these opinions. I guess i am an unhealthy feedback provider. That didn’t stop me from buying a 1/1 which i successfully FLIPPED for profit just to be a bad boy.
$800k NFT Sale.— Matty (@DCLBlogger) January 4, 2021
- TOTAL project volume is ~$810k
- just so happens to be a little north of previous record, ($777k).
- Ok, it's by @GoGalaGames and bought by @PolyientGames but can't help but think there's more to this story, (equity swap - publicity stunt). pic.twitter.com/Ef3HHqvvI2
Earlier this week @PolyientGames bought an NFT from a new game for 800,000 $USDC.
This sale is slightly more than what Beeple sold his record breaking "The complete mf collection" for 777,777.77 $. But it did NOT break the record as it is not a purchase, but an investment in the new fantasy MMORPG game Mirandus by @GoGalaGames
They chose to do it like that as a publicity stunt to gather attention, something that they definitely succeeded with. Here is an excellent analysis by Wiliam M. Peaster on the 15th issue of the NFT Humpday Report, a weekly column covering and providing embedded analysis on the NFT economy’s biggest topics du jour.
There were some notable purchases this week.
Pranksy bought a total of 463 ETH ~580,000 $USD in NBATopshot accounts. He now has 32,500 moments, which is more than the Dapper Vault.
Making waves: @pranksyNFT is a top @NBA_TopShot #NFT collector – he's recently doubled down, deploying a total of 463 ETH / $500k+ buying entire accounts— Roham (@rohamg) January 10, 2021
Collectors like Pranksy give options to players that want to exit quickly, their collections moving into more patient hands https://t.co/gdmIxXU0I0
NBATopShot is another project that we covered early on and it's going parabolic now, you should expect a new and improved shameless shilling about it.
Another record-breaking sale was the 140ETH ~175,000 $USD Cryptopunks Ape purchase by power collector gmoney, the seller was vapeape.
On Jan 8th, Bitcoin surpassed the 40k mark and doesn’t seem like it’s going to stop anytime soon. Ethereum shot up by 70% this week, hitting a high of $1,300.
This is looking great for crypto investors, as tons of coins are projected to shoot to the moon.
As opposed to the FOMO that fueled the 2017 bull run, 2021’s bull run is caused by the investments of big institutions and whales.
These institutional investments are fueling the bull rally and it just makes 2021 built different.
It looks like the normies are getting on the ETH hype train as Google Trends data show people are searching about ETH at all-time high levels.
ETH’s last peak in searches was back in January of 2018, the month when ETH hit an ATH of $1,432.88.
Recently, gas prices have skyrocketed with the recent activity ETH has been getting. With the rise in gas prices, NFT artists and NFT projects will likely need to find alternative solutions like and move to Layer 2 or other chains. For example, the game Aavegotchi recently announced their move to Matic.
1/ 👻 We're excited to reveal that the @Aavegotchi team has chosen Matic to power their DeFi-staked NFT ecosystem!— Matic (@maticnetwork) January 6, 2021
DeFi + NFTs + DAOs x Matic 🚀
Integrating Matic will empower the Aavegotchi universe with an infrastructure that lets them flourish and thrive. pic.twitter.com/G9fhZlDDuS
As ETH skyrockets, it’s expected for other altcoins to follow. It is projected that BTC Dominance will fall and will make room for altcoins.
Some notable coins that have pumped in the new year are Cardano (ADA), which rose by 89% in the past week, and Polkastater (POLS), which just hit an ATH on Jan 8th. Some other dead shitcoins have also been on the rise. This is a sign of many new people entering the space and as usual, buying up some of the top 50 altcoins blindly, or whatever is shilled to them as the next BTC. Be smart with your money! Invest in knowledge first.
Don't be a noob and waste your money on XRP in this bullish market. There’s tons of money to be made in 2021.
The Shameless Shilling
CryptoPunks was released by Larva Labs in June of 2017 as the first Ethereum-based NFT. The Punks were free to claim, with collectors only having to pay for gas. Claims were not random, and people were able to pick which Punks they wanted.
CryptoPunks was featured in an article on Mashable, which helped lead to initial minting ending quickly. The project later became the inspiration for the ERC-721 standard for NFT’s and was the beginning of the modern CryptoArt movement.
As in all crypto projects, one of the things that makes CryptoPunks stand out, is the great community surrounding it. Almost all of the biggest and most knowledgeable NFT collectors are part of the CryptoPunks community. As far as liquidity goes, it is pretty liquid, for a NFT project, and a decent amount of Punks trade hands every day. The project is also consistently towards the top of the volume list on NonFungible.
One more interesting thing about the community is about how close and friendly it is. Conversations often feel like you’re playing in a friendly game of poker with close friends at home, where there is friendly competition, but each person is happy for others when a good deal is made. But it doesn’t stop there. The discord chat should be a daily stop for any serious NFT collector, as members are always discussing all topics ranging not only from Punks themselves, but other new NFT projects that people might find interesting as well.
Although there are 10,000 Punks, each Punk’s rarity is predicated on the different attributes and character types. All the Punks are human except for 9 Aliens, 24 Apes, and 88 Zombies. To see a full list of attributes you can visit the Larva Labs attributes page to get a better idea of rarities of different attributes and combinations. On this page you can also see the cheapest Punk for sale with the specific attribute you are looking for.
The marketplace has grown tremendously since its early days. After initially being free to claim, with users only having to pay the cost of gas, lifetime volume has reached over $7.8 million, with $1 million of that coming just over the last 7 days. The highest recorded sale was over $150,000 and it occurred just a few days ago. Below is my thought process on the record purchase:
Buying a Punk is as simple as connecting your wallet to the Larva Labs website. But all of the action and education happens in the discord chat. One would find it very beneficial to login to the Discord channel to spend time there learning from members of the community before jumping head first into a buying spree. Everyone is more than helpful, and does their best to educate new participants.
All these artists have one thing in common: they introduced the world to a new paradigm with their emergence into the art world. This is one of the many reasons why their works are some of the most highly coveted on the planet. Collectors will pay a premium for new and innovative pieces that would forever change what we call art.
Historically, all fine art was purely physical. Even though digital art has existed for a few decades, the lack of provenance has really kept it from being a medium for fine art. But with the advent of blockchain, this very big issue was finally presented with a solution. But it wasn’t until 8 years after the genesis block of Bitcoin, that the first NFT was issued on Ethereum: CryptoPunks.
The historical significance is not lost on collectors. The first of their kind, Punks are true digital antiques. As has been shown by the masters of centuries past, it is the thought leaders that collectors choose to keep. Artists that introduce the world to something new. Although young, and in a burgeoning space, CryptoPunks are a project that has truly shifted the paradigm of the art world forever.