#81 $100K Creator Incentive On X
How Elon has changed the rules to help you win
GM - this is The Snapshot, edition #81.
Welcome to the new subscribers this week - we are now at 1,953 subscribers!
I write about NFTs/crypto, and solopreneurship in web3.
This is what I’ve got for you this week:
This Week In NFT/Crypto World - $0.5M Loan For Premium NFTs
Sponsored Post - $15,000 Sponsorship To Go Big In Chicago
Notable Sales - Squiggles, Spirits, CryptoPunks
Creator Corner - $100K Creator Incentive On X
For sponsorship enquires, please DM me on Twitter.
With thanks to Zaimiri for the thumbnail for today’s article.
Disclaimer: The content covered in this newsletter is not to be considered as investment advice. It is for informational and educational purposes only.
Have a great day,
B
This Week In NFT/Crypto World - $0.5M Loan For Premium NFTs
$540,000 loan against 19 NFTs … at only 5%
A borrower recently leveraged 19 CryptoPunk NFTs to secure a loan worth a staggering $540,000, at a highly competitive APR of just 5%.
With high interest rates at the moment, this is likely a better rate than what you could achieve borrowing against your house (!)
Why is this possible?
This is an absolutely top bracket digital asset; there are willing lenders; it is so easy to liquidate (in event of default the NFT automatically moves to the lender via smart contract); and there is perfect data transparency (everyone knows the price history of CryptoPunks since their inception.)
Mind-blowing side note: the borrower claimed these 19 NFTs back in 2017 for only $40!
Amazon Prime delivers NFTs to subscribers
Mojo Melee, an NFT game built on Polygon, is giving Amazon Prime subscribers the chance to get free NFTs.
The free NFT is an in-game character - Gwyn Rockhopper - playing in the casual “auto-battler” with real-time strategy requirements.
The deal with Amazon will last 6 months and is set to include more monthly NFT drops - which should let Amazon subscribers gain an advantage over non-subscribers.
This is another example that NFTs will become far more pervasive as cheap (or free) digital assets - rather than highly speculative collectibles.
Mercedes goes digital in physical spaces
Mercedes will release their second core NFT collection which will - interestingly - only be available to mint at “selected Mercedes-Benz’s top-customer events.”
“We intentionally chose this form of minting over a longer period of time, potentially spanning months or even years, and across many events hosted by Mercedes-Benz markets to provide top customers with a high-quality, personalized experience.”
It is interesting to see Mercedes go after their existing customers, rather than chase crypto-capital - a dream by which many brands have been tempted.
They will offer a card (which is actually an NFC-enabled hardware wallet) which will create an Ethereum wallet once tapped against a phone.
In a seamless process, the NFT will be minted and transferred to that wallet.
3 takeaways:
Tech will make the onboarding process much easier;
Brands will start targeting/rewarding their current fans instead of chasing crypto-capital;
IRL events will be used to grant more prestige to the “minting experience” - which can become more celebratory.
Overall, it certainly looks like brands and companies are finding ways to improve the “NFT experience”: the brands and companies who abstract away the complexities and technicalities of NFTs will experience greater customer satisfaction.
Sponsored Post - $15,000 Sponsorship To Go Big In Chicago
Lil Nouns DAO this week will consider a $15,000 proposal by some Lil Nouners to proliferate the Nounish meme at ETH Chicago.
Physical “opstacle” which will be built for skaters at the event
Why?
They plan to host a hacker event AND host a skate jam - which is seen as the perfect way to engage a bunch of like-minded people at the Chicago event. The Skate Jam will include a Tricks Competition where the skaters can win up to $500 per trick!
This proposal has not passed yet - voting has commenced and you can monitor the results below!
If you are curious about contributing to a cutting-edge DAO and getting paid to bring your ideas to life:
Check out the proposal for more details or reply to this email with any questions you’d like me to answer.
Notable Sales - Squiggles, Spirits, CryptoPunks
Snofro, Chromie Squiggle - 49 ETH ($91,400)
Azuki, Spirit- 69 ETH ($126,000)
CryptoPunk, 3D Glasses - 74 ETH ($136,000)
CryptoPunk, Clown Nose - 113.69 ETH ($208,000)
CryptoPunk, Black Beard - 59.69 ETH ($111,000)
Creator Corner - $100K Creator Incentive On X
For all of the troubles X has faced since Elon’s takeover, there was a very significant win for creators announced in the last week.
Elon tweeted that X will keep none of the revenue which creators generate via subscriptions, until they reach $100k revenue - after which X will take 10%.
This is an improvement on the initial proposal which was that X would take nothing for 12 months, then take 10% irrespective of how much a creator made.
This is huge win for creators: $100k potential earnings without a middleperson taking a cut.
Although there are various kinks which X needs to figure out to make it a viable platform on which creators can rely to produce content, this is clearly a great incentive.
NB. I enjoyed the very “populist” announcement tied to the negotiation with Apple’s CEO, Tim Cook.
It’s one thing for Apple to be hard-nosed when it comes to companies, but how can they say no to adjusting their 30% cut when it now concerns the individual creator?
The dynamic feels different.
Let’s see what happens.
Have a great day,
B
Disclaimer: The content covered in this newsletter is not to be considered as investment advice. It is for informational and educational purposes only.
I hold some of the NFTs mentioned in these newsletters