GM - this is The Snapshot, edition #109.
This is what I’ve got for you this week:
This Week In NFT World - $50k BTC ferocious ETF demand
Sponsored Post - Lil Nouns Hit ETH Denver with 3 ETH budget
Notable Sales - Ether Rock, Fidenza, Wembanyama, Pudgy Penguin
Investor Focus - 9 Crypto Attention Grabbers Right Now
For sponsorship enquires, please DM me on Twitter.
Have a great day,
B
This Week In NFT World - $50k BTC ferocious ETF demand
There has been $2.4B total net inflow into BTC ETFs in the last 5 days; $4.1B total net inflow since the ETF approval.
“There were $340m of net inflows into BTC ETFs yesterday. This takes the total net inflow since launch to $4.1bn, with $2.4bn of that coming within the last 5 days. Slower pace yesterday, but still higher imo.”
Thoughts from OSF
Hundreds of millions of dollars of daily buying has rocketed the price 16% in 7 days from around $45k to $52k.
Blackrock alone has been responsible for attracting $1B of inflows. Pretty wild demand.
"how are people not losing their minds over this, half a billion via blackrock *alone*. ATH in Q1 if continues"
Thoughts from @0xfoobar
2 points on this from my perspective:
These buyers do not represent ‘hot money’. They are not looking to trade. They are accumulators. Like those who buys stocks for long periods of time.
The key question is this: do you think inflows will be greater than outflows for BTC moving into the future? I don’t think it is more complicated than that.
Bitwise Fund announces $BITB crossed $1B AUM
"Bitcoin ETF from small fund no one had heard of until a month ago, scoops up 1 billion in assets in 30 days with 8 other competitors in the mix. Tells you something about demand for this product."
Thoughts from @dotkrueger
Ferocious. Demand.
Jack Butcher x ACK Opepen reveals at 1.3 ETH floor
"Some notable sales: - 3.5 and 3 ETH on the 1/5 "romeopepen" - 2.1 and 2 ETH on the 1/20 "TIPTOE" - 1.7 ETH on a 1/10 "Muse T.V."
Details from @Tyler_Did_It
Two digital art titans Jack Butcher and ACK collaborated this week on Jack Butcher’s Opepen.
The 30th ‘set’ of a collection which will come to be composed of 200 sets was received well by the market as it traded 4x higher than the price of an unrevealed Opepen.
GMoney's $1M Punk loan gets refinanced from 14% APR to 13.29% APR
"don't look now, but my @gondixyz loan just got re-financed to 13.29% without me having to do anything. Meanwhile ETH is up over 14% in the last 11 days."
Thoughts from @gmoneyNFT
I wrote about the significance of NFT Finance last week and how this Ape CryptoPunk received a $1M loan.
This week the loan was instantly refinanced by a lender - which means the borrower did not have to do anything to receive a better rate.
The borrower simply woke up one day to see his interest rate reduced from 14% to 13.2% because a lender decided they wanted to improve the loan deal.
Fantastic tech and innovation in the lending industry.
Metastreet announces $25M raise and launch of ASCEND
"With the introduction of Liquid Credit Tokens, we aim to bring forth $3.5BN worth of sustainable new yields from the NFT market that BEAT staking APRs"
Details from @metastreetxyz
More innovation in NFT lending.
Metastreet allows you to use the ETH tied up in NFT loans.
You can lend your stETH into a tranche of a CryptoPunk loan, then receive a token which represents
the value of ETH +
the interest it will receive from the loan +
the ETH it will accrue from staking.
This is a very cool innovation.
I have provided liquidity on Metastreet here - but will do some more research before I decide how I will employ some more advanced strategies and decide what to do with the ETH which represents the CryptoPunkLoanETH.
This is definitely on the more advanced side of things so DYOR. I will cover it more in due course.
CBB0FE shares they have provided $1.2B in loans to NFT holders in the last 9 months
"We have just reached the milestone of $1.2 billion in loans provided to NFT holders since the launch of Blend by @blur_io 9 months ago. We are just two brothers. You don't need to be institutional or have people working for you to get things done."
Details from @Cbb0fe
Pretty wild what can be achieved in crypto.
Two brothers provided $1.2B of loans to the NFT market.
If this feels like a video game sometimes, it’s because it is.
Just the game tokens are worth a lot of money now.
It also speaks to the democratic nature of crypto.
With no history or background or ‘credentials’ you can come in to find an opportunity or niche and make it yours.
The internet and blockchain is the place to which you immigrate for opportunity now.
Multi-million dollar raises are everywhere right now
The investment cycle is HOT right now.
It has never been a better time to raise capital as a crypto company which plans to drop a token this year.
Here are just a few in the last couple weeks:
Pixelmon - Millions from top investors (undisclosed)
Overworld - $10M
Metastreet - $25M
Imaginary Ones - Millions from top investors (undisclosed)
Can the market absorb all of the tokens which are coming into the market?
What investors hope is that if this total crypto market continues to rise - as it should if we are in a true bull market - things could get silly from here until the end of year as we pass previous cycle highs.
Sponsored Post - Lil Nouns Hit ETH Denver with 3 ETH budget
Lil Nouns DAO has voted for a 3 ETH proposal to give Lil Nouns a big presence at ETH Denver by sponsoring Pizza DAO’s event and incorporating mobile marketing, POAP and a Lil Pizza giveaway.
What will Lils be doing?
At PizzaDAO's event on February 28 which expects 500 attendees for the main event, Lils will be be incorporating a banner and POAP station at the event entrance and having a raffle prize with physical swag.
In addition, Lils have been working with CityDAO to secure a spot on a moving truck billboard that will be timed to go from the main Eth Denver event area to the PizzaDAO event with a "follow Lil Nouns to PizzaDAO" sign with art created by Borg - pretty fun!
This is just another example of Lil Nouns DAO governance in action, backing positive contributors to the DAO.
If you are curious about contributing to a cutting-edge DAO and getting paid to bring your ideas to life: check out our website.
Notable Sales - Ether Rock, Fidenza, Wembanyama, Pudgy Penguin
Ether Rock, 279 ETH ($740,000)
Fidenza, 70 ETH ($186,000)
Victor Wembanyama Top Shot serial #1 of 4000 - $30,000
Pudgy Penguin, Gold - 50 ETH ($124,000)
Investor Focus - 9 Crypto Attention Grabbers Right Now
In a bull market things have started to get crazy.
It’s hard to keep a tab on all the opportunities, so on the show we wanted to take a step back and reflect on where we wanted to divert our attention the most.
Here are our 9 Attention Grabbers for the @modernmarket_crew right now (From 46:25 in the video to the end)
1. Solana Airdrop - Kamino, Tensor, Parcl etc
2. Web 3 Gaming on ETH
3. Celestia & Cosmos
4. RWAs
5. Omnichain - Polyhedra, Hyperlane, Layer Zero
6. Gaming on different chains
6. Blast
7. Seed / KOL Rounds
8. NFT Lending - Blend, Gondi, Sharkyfi, Liquidium, Metastreet
9. Restaking - Eigenlayer (Etherfi, KelpDAO, Renzo)
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