Issue #25
Week 9 2021

Only True Kings create NFTs

kol1

The American rock band Kings of Leon is selling their album, "When You See Yourself," as an NFT in a collection called "NFT Yourself.".

With the help of decentralized ticketing platform YellowHeart, this is the first time an album is released as an NFT. This move is a significant step in the complete adoption of NFTs.

Let's do a quick rundown of what's in this collection:

Golden ticket collection

Bandit_Red
Golden Ticket: Bandit #1 Red
Bandit_Wave
Golden Ticket: Bandit #2 Wave w/audio
Bandit_Grid
Golden Ticket: Bandit #3 Grid
GoldenCherryEchoNOLogo
Golden Ticket: Golden Cherry Echo
Pixel-Sort_Gold-Frame_v1
Golden Ticket: Couch Distortion
Pixel-Sort_Headsmoke_Gold-Frame_v2
Golden Ticket: Heads in the Clouds

These are a collection of 18 minted NFTs, with 6 of them going on auction until March 7th. The band will hold the remaining 12 for future use. These NFTs come with unlockable perks; owners will be able to redeem four front row tickets to one Kings of Leon headline show per tour and will come with VIP backstage passes and band merch. The NFT also comes with a physical version and is a great incentive to get boomers introduced to the NFT space.

NFT Album Edition

NFTYourselfToken

The album is priced at 0.035ETH and will be on sale for two weeks. On March 18th, owners of this NFT will receive a full digital album download, a physical vinyl, and of course, the NFT.

NFT Visual Art

ShadowS
ShadowS
KOL_GOLDEN_TICKET_CHERRY_ANIMATION_9x16_ALPHA
Cherry Echo
Cherry-Distortion-Gold-alpha
Cherrybolt

These are just your typical musical artist NFT that we have seen coming out these past few months.  


What is YellowHeart?

YellowHeart is a blockchain ticketing provider that "wants to use blockchain technology to bring value back to music." They plan on bringing more artists into the NFT space to sell more of these NFT albums and ticket options. YellowHeart is trying to show the world that NFT tickets are the way of the future. Through NFTs, artists can get a percentage of a ticket's resale and set a ceiling on resales. This would almost automatically Thanos snap ticket scalpers from existence.

Are NFTs the future for music?

In the art world, NFTs have shown to benefit the creators rather than the publishers and have allowed more independent artists to thrive. This could become true for musical artists as streaming services, and musical labels fail the creators.

For example, Kevin Kadish, the songwriter behind Meghan Trainor's "All That Bass," claims to have only made $5,679 in royalties in 2015. At the time of his claim, the song had over 178 million streams but could only make $5,000. That's a broken system where people profit from the geniuses doing the actual work. This system is rigged against creators.

NFTs are the perfect solution to this gross misconduct streaming services and record labels have done to artists. Not only would NFTs allow for music artists to release their music and keep all of the profits, but they get a portion if the NFT is resold.

Who would most likely be next to come?

Although this was the first attempt at selling an album NFT, I would say it successfully brought more people into the space. For example, it got boomer magazine Rolling Stone to cover the release, and they have an extensive reach into the older scene. Another example of new people coming in is my 52-year-old mom, she asked for help on buying this NFT album, and I found it very interesting because she thinks I'm a crazy person for buying art that is "not real."  

It wouldn't be crazy to expect more artists to follow the Kings of Leon's path and drop more music as NFTs. I would definitely expect EDM artists to become some of the first people to adopt this new trend, especially 3LAU. He has made over $116 million in NFT sales, and he has re-released one of his albums as an NFT before. Another example is Flume; he just auctioned off his first NFT for more than 28 ETH, and it came with an unlockable song. He says that he plans to release more, which may add up to a whole album.  

Like always, the sky's the limit for NFTs, and it's exciting to see where people and artists will take this space.

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πŸ’°
Someone had to have gotten $PAID

We haven't had a rug story in a long time, so let's change that this week. On Friday, March 5th, $PAID plunged by nearly 90% after an unknown attacker minted over 59.4 million tokens. It is reported that it was a hacker, but many now speculate an inside job caused the fall.

Screen-Shot-2021-03-07-at-9.15.05-AM

Paid Protocol was shilled by major crypto influencers, including Ivan on Tech and Scott Melker, before becoming a shitcoin. The token went from $2.80 to $0.30 in a matter of minutes.

One of the weird things about this story is the attacker didn't fully cash out; the attacker could have made $180 million if he just swapped all of his $PAID in his wallet. The attacker decided only to swap out $3.1 million of ETH and let the rest of the $PAID in the wallet.

Was this a hack or a rug?

Twitter account WARONRUGS tweeted out a scam advisory about $PAID back in late January, saying the owners could mint tokens at will.

There is growing evidence that this was rug pull and not an attack as Paid Protocol claims. WARONRUGS says, "Paid deployer transferred the ownership of the proxy contract to another wallet, which then changed it with a malicious one that can rug." This would mean someone inside knowingly transferred the smart contract that could mint new tokens to the attacker and drawn suspicion to Paid Protocol.

Basically, what happened in this attack WARONRUGS warned everyone back in January. Since Friday, they have been making memes about this whole situation, and I would recommend checking them out. They're pretty funny.

Let's look at what is coming out from Paid Protocol. 

Paid Protocol has denied the claim that this was a rug and has done their own investigation. Down below, you can read what Paid Protocol claims to have happened.:

Ev2n3mGWgAIbbPl

Paid Protocol does plan on taking a snapshot and restoring everyone's balance before the attack. If they are going to follow through with this, it would be like what happened with Cover Protocol back in December. 

If this was a rug pull or a hack it was still a failure on Paid Protocol Many people lost tons of money and this is a reminder to keep your DEFI investments diversified and to listen to WARONRUGS.

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VIV3

Over the past year a wide selection of new NFT marketplaces have come available, most of them on the Ethereum blockchain, each with its own pros and cons.

VIV3 is the latest NFT marketplace, launched on the Flow blockchain with the aim of β€œempowering a billion people to create, trade and own the world's most valuable creations.” Looks like they are off to a great start too, with over 500+ developers, 100+ projects, as well as some very impressive community participants and backers!

FLOW-Homepage
FLOW-Partners

Flow is a fully decentralized blockchain created by Dapper Labs. It features a ground-breaking smart contract platform built with scalability in mind, with the intent to deliver the high levels of performance required by mainstream decentralized applications. This is of course promising news, as we all know how frustrating scaling pains can be. Much of the early art made available on the platform is pretty impressive too!

VIV3-Sales-1

The Flow ecosystem has been designed with composability in mind. On VIV3 all NFTs are minted from their own blockchain smart contract, enabling the Flow ecosystem to easily integrate with contracts from individual artists, instead of the entire marketplace.

VIV3-Sales-2

This allows potentially endless new use-cases to be built on top of each asset or collection. We can only begin to imagine the possibilities. Flow also puts emphasis on covering a majority of fee’s often experienced in other NFT marketplaces.

VIV3-ART-Artist
VIV3-Artist-Page

It can’t be overstated just how much care appears to have been put into building out the Flow blockchain. Already this well guided and organically cultivated ecosystem is beginning to resemble the kind of β€˜walled garden’ where cohesive development direction can lead to mass adoption.

β€œSmart contract deployment, blockchain minting and transaction fees are all covered by VIV3, so creators can focus on what they do best, create. Creators earn 87.5% from direct sales of their works. Additionally, they can earn up to 10% from the resale of these same assets when they get traded peer-to-peer on VIV3 marketplace.”

 

Flow, the blockchain for open worlds

β€œSmart contracts on Flow can be assembled like Lego blocks to power apps serving billions of people, from basketball fans to businesses with mission-critical requirements.”

There are four pillars that make Flow unique among existing blockchains:

  • Multi-role architecture: Flow’s design is unique, allowing the network to scale to serve billions of users without sharding or reducing decentralization of consensus.
  • Resource-oriented programming: Smart contracts on Flow are written in Cadence, an easier and safer programming language for crypto assets and apps.

  • Developer ergonomics: From upgradeable smart contracts and built-in logging support to the Flow Emulator, this network is designed for results.

  • Consumer onboarding: Flow was designed for mainstream consumers, with payment onramps catalyzing a safe and low-friction path from fiat to crypto.

For those still a bit doubtful or curious about the potential of Flow and it’s newest marketplace VIV3, I have it on pretty good authority that there is quite a lot to be excited about...

Snowfro: I think there is a common misconception that Flow is totally centralized, but man, after being here through other blockchain forks in 2017 and 2018, each with their own issues and problems, I'm perfectly fine with a new blockchain that is pushing the boundaries of blockchain technology with new implementations, etc, maintaining some developer control in the beginning.

Dapper Labs has built a wonderful product. They're innovating this blockchain concept, and they want to baby it from the start. Too much in blockchain is all about instant gratification and profits. I feel like Dapper is taking a long term approach with Flow that makes a lot of sense. In a way Flow is beginning to look a bit like the Apple of blockchain.

It's like people yelling for governance on Art Blocks. Sure, one day, absolutely can be a consideration. In the meantime, if we had started with a governance token in December it would have looked very different than a governance token implemented in February, which would look very different than one implemented today.

This experience has allowed me to draw a bit of a parallel between Flow and Art Blocks. They're both platforms with a long term vision, not interested in immediate speculation but building a really strong foundation for the future. So giving up the reins in exchange for 100% decentralization too early is a HUGE mistake in my opinion.

I support certain early centralized aspects (with decentralized components like my staking node for example) being utilized to assure everything is 100% perfect and in place before implementing irreversible and very permanent decentralization mechanisms that could become a massive ball and chain in the near future, before the platform has established itself 100%.

Thanks for the valuable input Erick. This is starting to make a lot more sense!

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brave-logo

A Dark Horse Named Brave

It has been years since the launch of Brave. The multi-platform, privacy-first, crypto-friendly chromium based web browser has consistently emphasized security, performance, and user experience above all.

It is worth clarifying that although Brave is based on Chromium, which sends data to Google, the Brave developers have removed this function entirely. Further, it’s built-in ad blocker β€œShields” and WebTorrent downloader save users having to install what are typically all but required extensions. Still, most Chrome extensions are supported when needed. The β€œShields” allow fine tuned blocking of cookies, trackers and fingerprinting. Not to mention saving loads of time and bandwidth! There is also a built-in Tor browsing mode, enabling even further privacy.

Ad-Time-Saved

These essential features are all built into this one elegant, full-featured, resource efficient web browser. To top it all off, this cutting edge browser and it’s users exclusively play an integral role in the revolutionary Basic Attention Token (BAT) network.

That was some time ago now, and many may have forgotten or dismissed Brave, the Basic Attention Token, and it’s initiative to completely upend the online ad industry. The benefits of BAT can be broken down simply for each participant.

BAT-Workings
  • Users are provided with strong privacy and security when viewing non-invasive advertisements, while also experiencing improved relevance and performance. Further, individual users are entitled to a share of BAT tokens for their participation in the ad network.

  • Publishers can expect improved revenue, and reporting while reducing fraud.

  • Advertisers can gain more customer attention at a lower cost, while achieving better attribution, and less fraud.

Fast forward to today, there are now over 25 million daily active Brave users, over 12 million active wallets, and over 1 million verified creators in the Basic Attention Token network.

Brave-Users

Despite Google facing antitrust cases, as well as class actions siting illegal tracking of β€œprivate” browsing, they clearly still rule. Commanding over 90% of all search engine market share, and over 65% of the browser market. Former Mozilla executive, Brave CEO and co-founder Brendan Eich and the Brave team just might be the ones to change that after all...

That’s right. β€œBrave is building a search engine that respects your privacy.” Seemingly directly challenging Google’s current model, Brave Search won’t collect IP addresses or personalize results based on identifying information. According to Eich, Brave Search is set to launch in the first half of this year. He’s emphasized that Brave already has a default anonymous user model with no data collection at all, and Brave Search will continue this trend. No IP addresses will be collected and the company aims to create both a paid, ad-free search engine, and another that comes with ads. Additionally, Brave is creating a decentralized exchange (DEX) aggregator as well as a new, more fully featured, integrated Brave Wallet including NFT support.

"One of our goals is to make tokens and crypto easy to use for all of our users. The custom DEX which we plan to explore could help achieve this goal by enabling users to exchange BAT and other assets at lower fees, and with better user interface and security, by being built into Brave. Ease of use is in our experience the key to adoption. Reducing friction brings in new layers of users as we work to normalize crypto for everyone."

-Brendan Eich

Browser wars aren’t a new thing. Neither is the discussion over privacy of user’s data. There is still a long way to go, and the outcome is far from certain. Still, it’s an easy decision going with my heart on this one. I know which horse I’m betting on. I encourage every individual to recognize the role they play. To not underestimate how impactful the way in which they interact with the internet is becoming.

Stay safe gang!

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cryptobuggies_logo_800x300

Shameless Shilling

CryptoBuggies

After spending 6 solid months in the cryptoart world selling my artwork on various platforms, I couldn’t help but notice so many awesome NFT collections gaining strong followings and producing great-looking work (Crypto Planets being one of my favorites).

What a great way to produce a body of work all tied together with a common theme, and have a fan following behind it!  I eventually convinced myself I should throw myself into the collection-making business and see if I could gain traction with an idea of my own: CryptoBuggies.  

manty_redglitter_gold
pilly_cow_grass
anty_glowtriangles_abstractshapes

I imagined a whole entourage of googly-eyed insects waddling along like drunken clowns, each eyeball pointing in a different direction.  From that initial concept the idea grew into ways to make the whole experience interactive.  Add an overworld map with different geographic regions, let the community vote on where the virtual bugcatcher goes each round, let them also vote on which bug catching tool to use, and make it so different bugs are found depending on how and where they are found.

bugmap_choice_01

Pretty soon I was filling out a spreadsheet with lists of bugs, map region names, tool types, and probability quotients for each bug.  Once I realized I was onto something, I registered all the necessary accounts and domain names to bring my idea into reality.  

To keep the cost of the first round of CryptoBuggy NFTs low, I chose to mint on OpenSea since there aren’t any upfront gas fees involved.  And at 0.05 ETH per CryptoBuggy, they sold out within the first day even though I had less than 100 followers on Twitter!  For Round 2 a week later I raised the buggy count to 15 and the price to .15 ETH each, and those sold out in just 90 minutes!  Two even received secondary sale offers of .5 ETH just minutes after that.

CryptoBuggies-promo-grid-First-25

It’s very rewarding and exciting to have an idea take off so quickly and find its audience. Having fans regularly voting in the polls and seeing the bugcatcher begin its journey across the map is a great feeling. If all goes according to plan, over 20 different buggy types will be found across the game map using the 4 different tools once they’re all made available (jar, shovel, net, and bucket).  And no two CryptoBuggies will ever look the same, ensuring that each one is a unique 1/1 NFT.  The CryptoBuggy collection will be considered complete once 500 have been found.

Round 3 happens Sunday, March 7 at 9pm GMT / 1pm PST and I can’t wait to see what happens next!

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