#92 Fine Digital Art 10Xs In 3 Months
The numbers behind Refik Anadol's WOY
GM - this is The Snapshot, edition #92.
This is what I’ve got for you this week:
This Week In NFT World - Fine Digital Art 10Xs In 3 Months
Sponsored Post - Lil Nouns Increases Voting Share in Nouns DAO
Notable Sales - Refik Anadol, CryptoPunks
Creator Focus - William Mapan Sketchbook A has $11k top bid
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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 World - Fine Digital Art 10Xs In 3 Months
The Winds of Yawanawa collection by Refik Anadol was up 10x this week.
The collection was no doubt helped by Refik’s entrance into the MoMa
It was sold at $2,500 on release a few months ago; this week it reached a 13.5 ETH floor ($21,000)
Reported on Monday (for the 7 days prior) it was: up 100%; had done 1.9k ETH ($3M) volume; +200 sales.
The price now sits at 10 ETH ($16,000).
The thesis for fine digital art is strong as ever.
Michelin NFTs double immediately after supply cut
Michelin entered web3 this week with their own 4.2k supply PFP collection.
They were unable to sell out their full allocation, but cut their supply immediately and the price has doubled from 0.05 ETH to 0.1 ETH ($80 to $160).
They intend to focus on luxury motorsport and fine dining experiences, and have begun with a VIP raffle for the Valencia GP including luxury accommodation, a welcome dinner and VIP viewing lodge.
ZTX airdrop nets one holder $170,000
ZTX is a virtual world empowering creators and communities.
Not long ago they minted their ‘home’ NFTs for 0.03 ETH. These ran up to price of 0.7 ETH - a 20x (!) - in advance of an airdrop of $ZTX.
The airdrop was a huge stimulus for the holders. One holder received almost $170,000. I know of others who made $40,000-$50,000.
This took a lot of people in NFT world by surprise. But it has reminded people that there is incredible opportunity in the web3 gaming universe if you know where to look.
Cointelegraph issues apology after fake BTC ETF tweet causes price spike
Cointelegraph apologised for a fake news tweet about an approved BTC ETF which sent the BTC price hurtling up past $30k.
In less than an hour people realised it was fake and the price quickly retraced.
The Editor In Chief in this video tried to blame society / the culture which allegedly forces journalists to prioritise speed over accuracy.
The CTO of RTFKT had this response which I liked:
"If your goal is to be the 1st & you put aside reality and fact checking, then you are not a journalist, you are sensationalist."
Sponsored Post - Lil Nouns Increases Voting Share in Nouns DAO
Lil Nouns DAO currently holds 16 Nouns NFTs: this is around 10% of acting voting power in the Nouns DAO, which holds 10,375 ETH ($16.2M).
The voting power of Lil Nouns DAO has gone up significantly because of the second fork: this is where 69 Nouns NFT holders decided they wanted out of the DAO so they left and took their share of the treasury with them.
Why is this significant?
Because now Lil Nouns DAO has more voting power in Nouns DAO, which means it is not only able to help Lil Nouns NFT holders submit a proposal to Nouns DAO; it is also able to support the proposal with more voting power than ever.
If you are curious about contributing to a cutting-edge DAO and getting paid to bring your ideas to life with Lil Nouns DAO check out the website.
Notable Sales - Refik Anadol, CryptoPunks
Refik Anadol, Winds of Yawanawa - 20 ETH ($32,000)
Refik Anadol, Winds of Yawanawa - 20 ETH ($32,000)
CryptoPunk, Headband- 50 ETH ($79,000)
Bored Ape, Bored Cigarette - 36 ETH ($57,000)
Creator Focus - William Mapan Sketchbook A has $11k top bid
Deca announces a new feed where you can track early mints and latest buys from your favourite artists and collectors.
NounsDAO gifted a $40K Nouns NFT to professional skateboarder Bob Burnquist to help proliferate the Nouns movement
William Mapan’s Sketchbook A ranked auction has a clearing price of $2.7k and a top bid of $11k. It closes today in about 8 hours.
NFT Now releases second episode in CryptoPunk documentary: Claire Silver - as an avatar (!) reflects on the history of her involvement with the project and its inspiration in her rise.
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