#96 Disney Digital Collectible Pins Arrive
Can the Disney 100x repeat itself?
GM - this is The Snapshot, edition #96.
This is what I’ve got for you this week:
This Week In NFT World - Can the Disney 100x repeat itself?
Sponsored Post - Lil Nouns DAO raises 350 ETH by selling 15 of its 16 Nouns
Notable Sales - Ripcache, CryptoPunks, Fidenza
Creator Focus - Orkhan’s Muraqqa: from 0.5 ETH to 4 ETH instantly
For sponsorship enquires, please DM me on Twitter.
Have a great day,
B
This Week In NFT World - Disney digital pins incoming - can the Disney 100x repeat itself?
Disney has partnered with Top Shot creators Dapper Labs to bring collectible digital pins to web3.
The IP will include your favourite Disney, Pixar and Star Wars characters - and they will exist on the Flow blockchain. But haven't they done this already with Veve?
Veve has sold NFTs for Disney, including Star Wars, Simpsons and Marvel NFTs since 2022.
In 2021 I was in the shop buying 1st edition Batman NFTs for less than $100: these went on to sell for >$10k. My first 100x in NFTs.
Can history repeat itself?
Of course it could.
Crypto/NFTs show us that we don't mind repeating our own narratives. The market is hot right now and if they are fun and easy to collect, people just may go there.
In any event, it will be cool to see how an industry titan brings a different type of digital collectible to the space.
Mad Lads price rises from $1600 to $6500 in 6 days
The Mad Lads collection went from a 40 SOL floor price to 100 SOL floor price in just a week - a week in which Solana itself ripped up from $40 to $65!
Why?
What has become apparent is that the Mad Lads team has not launched an NFT project in order to fund an idea; they already had an idea with which they were moving forward and the NFTs serve as promotion of that idea.
Founder Armani Ferrante has spoken about how their Dubai based crypto exchange, Backpack, will show proof of reserves every day if the users want to check.
This comes on the heels of the FTX saga, for which SBF will go to prison for using customer funds for all sorts of trading activity, personal purchases, and political donations.
The market appears to want this transparency of funds. And so the Mad Lads go higher - even with Solana rising too.
Memecoin rips 100% leaving Captainz NFTs discounted
The Memeland NFTs were left discounted this week as Memecoin went on a huge run up.
Why the discount?
Because each Captain NFT still has 75% of its allocation of Memecoin “inside of it” - and it will unlock over the next two years in a non linear fashion (basically whenever the founder thinks the market is best positioned to deal with more unlocks).
NFTStats provided this great breakdown:
Whenever there are tokens attached to NFTs they do tend to become correlated, sometimes pricing the NFT itself at 0 (which is never the case).
It does, nevertheless, feel wise to assume that Memecoin cannot operate over a longer period of time at its current FDV of over $2B (unless we hit a mad bull market.)
Flooring Protocol announces $2M worth of rewards for users providing liquidity
Flooring Protocol - which allows users to fractionalise their NFTs - is incentivising its liquidity providers with tokens which represent fractions of valuable NFTs.
All of the “uNFT” tokens on the left of this image are those that represent a fraction of the NFT.
Most of the major NFT projects are represented.
In order to receive these tokens, the owner of the NFT needs to deposit the NFT into the Flooring vault, and in return they receive 1M U tokens for that particular NFT collection - which they can then use to redeem for a random NFT from that same NFT collection vault in future.
The 1M U tokens will always represent 1 NFT in the vault - so this protocol enables greater NFT liquidity because you can sell 75% of your valuable NFT by selling 750k U tokens, should you wish.
It is these U tokens which are being used to incentivise the provision of liquidity for the protocol’s native token, FLC.
This is clearly on the more advanced side of the financialisiation of NFTs: if you would like to learn more you can do so here.
Sponsored Post - Lil Nouns DAO raises 350 ETH by selling 15 of its 16 Nouns
Lil Nouns DAO has sold 15 of its 16 Nouns to raise approximately 350 ETH, taking its treasury to over $1M - a huge amount for the DAO to fund builders moving into 2024.
After the tumultuous process where the DAO debated back and forth the merits of holding or selling its Nouns - all are now forced to accept the situation and move forward with building with a much higher treasury and fewer Nouns.
Could there be a better time to join the DAO, when it has just received a huge influx of funds?
Probably not.
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 - Ripcache, CryptoPunks, Fidenza
Ripcache, Glitch - 27.2E ($55,000)
CryptoPunk, Police Hat - 88E ($181,000)
Tyler Hobbs, Fidenza - 79E ($162,000)
CryptoPunk, Top Hat - 83E ($170,000)
Context from prominent collector Tyler Durden: "Immense congratulations to Orkhan on the successful mint of his Muraqqa series. I still can’t believe the collection achieved a 5ETH ATH sale within minutes of it being sold out."
Learnings from @Tyler_Did_It on recent mints: "Lessons: - Entry price still matters - FOMO increases after recent mints surge (Trichro-matic) - Don't FOMO into an NFT you don't want to hold"
Creator of the notable Checks and Opepen collections, Jack Butcher announces two new generative art collections
Details from @ArtOnInternet: "TRADEMARK: public open mint, at 0.069E for 24.304 minutes. Velocity Pass holders mint for free. SIGNATURE: 200 piece collection, rebate Dutch auction for one hour, only open for Velocity Pass holders."
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