Issue #42
Week 26 2021

Twitter, Reddit, Axie Infinity NFTs

This was a big week for NFTs; two major social media companies released a set of NFTs that has since exploded on the secondary market. Also, Axie Infinity has shot up tremendously in the number of sales recently.

On Wednesday, June 30, Twitter announced a collection of 140 NFTs given out to their followers. “The 140 Collection by Twitter” are Twitter-themed, all having references to the social media platform. One shows the evolution of the Twitter logo, while another references Twitter CEO Jack Dorsey’s first tweet.

To get these NFTs, Twitter would DM followers with a message saying they would receive the NFT. After handing out all of them, the secondary market exploded. Two of the “Rare Form” pieces sold for 20 ETH. The average price of the collection is 13.19 ETH, according to OpenSea.

On an unfortunate note, NFT artist, PIXELORD, was DMed by Twitter, saying he won. However, after sending his details, Twitter decided he did not meet the criteria for receiving the NFT. This raised a conversation about the terms of receiving the NFT. One questionable term was the NFTs could not be used in any “product or service that is not Twitter’s product or service, or in any manner that is objectionable, likely to cause confusion or dilute, blur, or tarnish the Brand.” If a person were to do this, they would receive a $100 fine. 

Reddit also released a collection of their own NFTs this week. The collection is called Cryptosnoos, a group of NFTs from Reddit that features its alien mascot Snoo. The three NFTs that came out are called the Original Block, Helium, and Snooprematic. These three are the first of a planned collection of Snoos that will come out on a future date.  

The Cryptosnoos are planned to have different rarity levels: Legendary (unique, of a kind), Epic (extremely limited edition), and Rare (limited edition). The first three are all Legendary. Cryptosnoos will also be used as aviators on Reddit, allowing collectors to show off unique avatars. 


The Cryptosnoos were auctioned off, each going for a tremendous amount of ETH. The Original Block went for 175 ETH, Helium went for 105 ETH, and Snooprematic went for 115 ETH. These prices seem to suggest that maybe NFTs aren’t dead.

Screenshot-2021-06-24-at-2.14.00-PM
In other NFT news, Axie Infinity has exploded in sales volume and has overtaken NBA Top Shot as the most traded NFT item in the market. According to Crypto Slam, Axie Infinity is up more than 335% in sales volume over the past 30.


This growth in sales is unprecedented, and overtaking NBA Top Shot is also impressive in itself. This growth is attributed to the migration of its platform from the Ethereum Mainnet to its own sidechain, Ronin. The new sidechain allows for transactions to be made with very little gas. 

7d-top10-1
Another crazy thing to come out of the Axie Infinity market is that an Axie sold for more than $810,000.
This has been an exciting week for NFT and possibly shows that we might be heading into a resurrection of NFTs from their apparent death. 
SHARE

Emergence GalleryY!
Scammer Alert!

This is still a bit of a mess but we’ll try to walk through just what appears to have happened. It began a few days ago with a member of the CryptoPunks Discord, Scott (emergence.gallery) seeking helpful advice on an ‘upcoming project’ of his own, from community members and even other platform creators whose projects had already achieved what he was himself hoping to. His full intentions were not entirely clear to those being helpful enough to advise.

Snowfro-Scott

Not off to the best start but that's ok...

Can't Wait!!!

So, this new platform's initial generative art series ‘AERIALS’ begins their minting process and there’s some excitement in the Punk Discord (as well as a few warnings about contract audits and garden variety FOMO). Minting ends with many people mentioning they can’t see what they minted. There are lots of questions in the chat. Then as some mints finally do render people begin to compare their new art. Some fun discussion about colors and shapes goes on for a few minutes, then a most appreciated heads up came from a popular Art Blocks artist, Dmitri Cherniak, who happens to know and appreciate SYM, the original artist of the work!

Dmitri-Scott-Discord

So here is what looks like the same art used ‘without credit’ by Emergence gallery, credit seems to have been given to Scott…

Open-Processing-Hyappy717

Hmm.. Maybe just a simple misunderstanding?

SYMs-Art-Not-Scotts
Dmitri-Scott-Discord-00

With the help of another fellow Art Blocks Artist Alexis Andre, Dmitiri reached out to SYM to confirm directly if he was indeed aware that his work was being used by Scott for AERIALS on the emergence gallery. SYM is Japanese and doesn’t speak english so communication wasn’t easy.

Sym-Dmitri

Impressive work by an impressive pair of concerned NFT artists and Art Blocks community members

At the time of writing the Punk Discord community is waiting on word back from Scott. The Ethereum spent on the AERIALS can still be found here at this address. The community is still hoping for a happy ending, one where the appropriate artist is somehow compensated for his work. There are also the many collectors who put faith in the new Emergence generative minting platform who are less than thrilled right now...

SHARE

NFT FTW

It’s fair to say our regular RLG readers already knew very well that NFTs are not dead, but for others who might not have been convinced, this past week featured evermore convincing activity that’d make it pretty tough for anyone to deny! While it might not be apparent to mainstream observers who have yet to become active participants, devoted NFT projects across the market continue to build out , improving their communities, and having a great time doing it!

Crypto-Slam-Top-10

Over $100,000,000 worth or NFT sales among the top 10 projects last week!

The Sotheby's Tim Berners-Lee WWW NFT auction we recently covered concluded this week. With so much going on one could almost lose track! Big congratulations are in order for Tim Berners-Lee and Sothebys for this historic auction. Naturally there was loads of great mainstream coverage for this high-profile NFT auction, and no shortage of interested bidders.

Sothebys-WWW-NFT

WWW Source Code NFT Sold for $5,434,500

Though big auction houses hosting captivating new NFTs has resulted in some great entertainment, some of the most exciting recent community NFT action has been going on in Art Blocks! If you don’t already know, there is always an awesome time to be had in the Art Blocks Discord, and #SquiggleSummer has officially arrived! I highly recommend you pay a visit, and not just for the amazing bot action either! The community is truly as friendly, engaging, and bright as I’ve ever experienced.

Chromie-Squiggle-OS-Floor

Basic Chromie Squiggles have broken well above 1ETH each! Big congrats Snowfro :)

Basically every Chromie Squiggle type has been trending up over the past several weeks but if you weren’t watching closely you could have missed it. Things have accelerated recently to say the least!

18 ETH Pipe Squiggle and 40 ETH Hyper Squiggle floor prices. Wow!

Squiggles aren’t the only Art Blocks project showing such impressive traction lately. Just about every individual AB series has seen a significant jump in purchases over the past few weeks. Ever since the completion of the Sothebys Natively Digital auction, featuring 19 individual Art Blocks works, many have been working towards the completion of their own ‘Sotheby’s Set’. As a result, several well known fan favorite projects have understandably reached new all time highs in demand. Floor prices for many of these well recognized projects have increased substantially!

In addition to the Curated Art Blocks projects recently featured at Sothebys making waves, select Art Blocks Playground projects have also been garnering much more attention and appreciation. Understandably so, as some of these AB Playground projects feature all of the potential and allure that the Curated selection does. They also feature some of the same incredible artists! 

AB-PA-Sold-Out

Paper Armadas went from about 50% Minted to 100% Minted in about 1 hour!

AB-PA-Fleet-01

Paper Armada Metaverse fleets are already well underway... 

Thanks for the great pic Westophalopalis! Amazing PA set!

While Art Blocks carries onward and upward, CryptoPunks have also continued to steadily creep upward in ETH price as well, not surprising to a growing number of ‘Fat Punk Thesis’ believers. With large gains being realized on so many new profile picture NFT projects it’s hard to imagine that at least some of those profits won’t find their way back to CryptoPunks…

Punks-For-Sale-Floor

1 CryptoPunk > 1 BTC

In fact, last week actually surpassed 100 unique CryptoPunk buyers, and 9 of the 10 top overall NFT purchases were CryptoPunks! This could be a simple coincidence, it could also be a noteworthy trend. All of these NFT enthusiasts reallocate newly available funds into a much older and more established project...

Crypto-Slam-Top-10-NFT

1 Week. 10 Punks. 1,237 ETH. Over $2.6 Million.

The top of the CryptoSlam charts provide nice snapshots, but you really might want to join the Larva Labs Discord to stay up to speed with the latest market activity and additional Punk happenings. Like the recent Sotheby's hosted ‘Sealed CryptoPunks’ auction which concluded this week with a handful of nice sales.

Sothebys-Paper-Punks-Auction

Congrats to both buyer and seller. These are pretty cool!

Unique Digital / Physical NFT paired auctions like these and future Sotheby's NFT events are certainly helping to gradually educate masses and widen the mainstream adoption net, but nothing can really capture the significance of NFTs other than the experience which actual NFT ownership and participation within these NFT communities can provide.

Breaking News:

Might want to hide your Punks!

SHARE

FEWOCiOUS Christie's

NFT Artist FEWOCiOUS just became the youngest artist to sell his art at the prestigious Christie’s auction house. His collection of works auctioned for a total of $2,162,500.

The collection, “Hello, i’m Victor (FEWOCiOUS) and This Is My Life” included five pieces that document the feelings of a growing boy. Christie’s writes:


“Hello, i’m Victor (FEWOCiOUS) and This Is My Life is a coming of age story through art. Through five new digital pieces and physical paintings, as well as an archive of his earliest never-before-seen drawings from each year, FEWOCiOUS’ new defining series will capture each formative year of his growth from age 14 to 18 as a young transgender artist in the digital era.”

Each of the paintings is 1/1 NFTs that also comes with a physical painting. The pieces will be delivered in person by FEWOCiOUS in a custom suitcase. The suitcase is meant to represent his journey of leaving his family for a brighter future.

Screen-Shot-2021-07-04-at-3.18.16-PM

This auction is significant for many reasons. It shows what a young person is capable of doing and shows the power of NFTs. FEWOCiOUS barely started selling his art a year ago, and now he was able to sell it on the biggest auction house in the world.


This story is a reminder of what NFTs allow for artists to do; it allows for them to express themselves. It allows a boy that his family did not accept to find a community that welcomes him and rewards him for his great work. Congratulations, FEWOCiOUS, we’re all proud of you.

SHARE

FaZe Down

This week in a significant move, the esports organization, FaZe Clan, has removed one of their team members and suspended three other members for their dealing of promoting a rug pull. This whole situation is another example of influencers shilling shit coins for a profit.  

Back in early June, four members of FaZe Clan and other notable influencers shilled a coin called Save the Kids (KIDS). Many have called this project a scam coin because many original influencers and the dev team have sold off their coin. In now-deleted tweets, influencers shilled the coin to their fans, many saying they were in it for the long haul. In now uncovered evidence, it turns out many influencers did sell off a majority of their coins right after launch. 

10318-1
What is Save The Kids?

The Save the Kids token was a charity token created to “give each kid a chance for a better life, even if we are talking about health, wealth or education.” This charity token was supposed to raise funds for children in need. Ultimately the project has been abandoned by the devs and has fallen by about 60%. 


The funny part about this coin is that it was advertised as safe from a pump and dump because of an apparent code that would not allow whales and bots to sell off more than .01% of their holding in 24 hours. This code was changed before launch, allowing whales (influencers in this case) to sell off their assets.

chart-3-1

Youtuber, Coffeezilla, was one of the first to point out the skem, and in his video below, he goes into great detail about the whole situation.

Another great watch on the subject is Some Ordinary Gamers (Mutahar)

The Main Culprit

The sole person to be released from the team was FaZe Kay, a popular YouTuber and twitch steamer. In a tweet about the situation, he claimed ignorance of the scam when he said, “I want you all to know that I had no ill intent promoting any crypto altcoins. I honestly & naively thought we all had a chance to win which just isn’t the case.” But this statement seems to be false as he has repeatedly dumped coins he shilled right after their launches.

In other FaZe Crypto news, co-owner FaZe Banks was called out by the CEO of BankSocial, John Wingate, for pumping and dumping his coin. 

Wingate claims that Banks was paid to be an ambassador and post promotional tweets about the BankSocial coin. After Banks’ promotion, the coin quickly fell, and Wingate believes that Banks had something to do with the fall of the token. Banks never completed the rest of his obligations for the coin, citing a part of his contract that says if the token were to tank, he would not have to post more promotions.

 He tweeted out at Coffeezilla pleading his innocence, most likely trying to avoid having a video made about him.

The thing that has most fans upset with Banks is in his original tweets; he never disclosed his relationship with the project.
images-1.fit_lim.size_2000x-1

We are finally uncovering the dirty business of shillings by influencers. This is just one of the countless examples of influencers being a part of a pump and dump. Make sure to do your research with every token you buy into and don’t ape into something because the WOLF OF NO STREETS tells you to.

SHARE

ARTIST PROFILES

tropicalvirtual100

Tropical
Virtual

Nostalgia Simulator.

TropicalVirtual is a multifaceted 3d artist & animator with a diverse set of skills and styles. His work ranges from high detail renders with deep narrative concepts and world building to technical and interactive experiences such as AR animations, VR music videos and Metaverse game development. Tropicalvirtual’s work taps into futurism, nostalgia, digital psychedelia and vaporwave aesthetics.

Website
Twitter
Instagram
SuperRare

Night-Shift-2187AD_tropicalvirtual-2
1987_tropicalvirtual
Decaying-Persistance_tropicalvirtual
Thank-you-for-holding_tropicalvirtual
TheActivation_tropicalvirtual