#84 Sam Spratt sells $1M+ Monument Game Tickets
The secrets to the Monument Game success
GM - this is The Snapshot, edition #84.
Welcome to the new subscribers this week - we are now at 2,005 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 - Patrick Mahomes x Azuki
Sponsored Post - Nounish Optimism
Notable Sales - Hobbs, OSF, Alien Queen, MVP, Nouns
Thought Piece - Sam Spratt sells $1M+ of Monument Game Tickets
For sponsorship enquires, please DM me on Twitter.
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 - Patrick Mahomes x Azuki
From Product Manager to Convicted Trader: Insider Trading Hits NFT World
In a landmark decision, Nathaniel Chastain, a former product manager at OpenSea—globally recognized as one of the top NFT marketplaces—was found guilty of fraud and money laundering.
Leveraging insider knowledge, Chastain profited over $50,000 by trading NFTs he knew would be spotlighted on the OpenSea homepage.
Chastain's defense centered on the argument that no internal standards prohibited such actions during his tenure at OpenSea. As his lawyer, Daniel Filor, aptly put it, "You can't hold Nate to a standard that didn't exist."
This case does emphasise not only the need for regulatory clarity on digital assets - but more so if it feels morally dubious, maybe do not do it.
Mercedes-Benz NXT Icons: A Digital Dive into Automotive Design Heritage
Mercedes-Benz introduces NXT Icons, a digital collectible series celebrating the brand's illustrious design lineage.
Taking inspiration from the age-old tradition of physical trading cards, the Mercedes-Benz design team decided to bridge the past, present, and future, offering approximately 2,700 collectibles per era, culminating in a grand total of 18,860 pieces.
This seems to be a very thoughtful entry into the web3 space by Mercedes - who we first wrote about 3 weeks ago here - as they try to cultivate a community of luxury digital collectors.
If I had a Mercedes I would be in!
Nouns Esports team reaches DOTA final
Nouns DAO funded an E-Sports team almost $800,000 earlier this year…and they have just reached The International: the largest DOTA esports tournament in the world which has a $20M prize pool.
This is an epic achievement for both the team and the DAO whose goal is to proliferate the “Nounish” meme.
I do not believe there is another example of a DAO funded team being so successful: one for the history books!
MVP Quarterback Patrick Mahomes announces partnership with Azuki
Azuki announced that their NFT holders have the chance to win a 1/1 Patrick Mahomes x Azuki physical card.
And all NFT holders who enter the draw will be able to redeem a limited edition “Scorching Sidearm Pass”.
In a bull market this type of premium partnership with the MVP of the NFL would probably have caused the NFT collection price to rocket upwards, but with the market being anaemic right now the floor price of the collection did not change at all - not great!
Sponsored Post - Nounish Optimism
Lil Nouns DAO members have experienced some uncertainty recently as Nouns DAO prepares for its infamous fork - where those Nouns who wish to exit the DAO will be able to leave and take their “share” of the $50M+ treasury.
But there is still great reason for optimism!
This week Lil Dot - one of the founders of Lil Nouns DAO - reminded us in this tweet of the progress across the Nouns ecosystem which should give artists and builders the inspiration to continue to proliferate Nounish culture.
Some highlights:
Nouns Movie is funded to create “The Rise of Blus”
Nouns Deli has been funded to create a deli in Melbourne, Australia
Lil Nouns DAO launched the “Bid With Reason” Upgrade so holders can express their reason for joining the DAO
There is still insanely cool stuff happening in the Nouns ecosystem, and Lil Nouns DAO is still open for business.
If you are curious about contributing to a cutting-edge DAO and getting paid to bring your ideas to life:
Check out the latest proposals for more details or reply to this email with any questions you’d like me to answer.
Notable Sales - Hobbs, OSF, Alien Queen, MVP, Nouns
Tyler Hobbs, Fidenza - 45 ETH ($75,000)
OSF, Superfan - 15.6 ETH ($26,000)
Alien Queen, DEATH - 12 ETH ($20,200)
MVP, Memeland - 28 ETH ($46,000)
Thought Piece - Sam Spratt sells $1M+ of Monument Game Tickets
Sam Spratt set the NFT world alight on Monday when he sold out 209 editions of The Monument Game in 2 minutes at a price of 3.33 ETH each - that’s a total raise of more than $1M!
To add: the 1/1 of The Monument Game just sold for 420.69 ETH ($700,000).
So who is Sam Spratt and why are these works so expensive?
Let’s dive in.
Who is Sam Spratt?
A New York artist who seamlessly blends classical oil techniques with digital artistry. He was trained in Baroque and Renaissance painting, though became most acclaimed for his work in gaming, film, TV, music, and literature.
Inspired by our early hominid origins, Solomonic teachings, and the authorless story of pilgrimage, he is creating an episodic and connected world across his artwork and communal layers of blockchain philosophy through his story "Luci".
What is Luci?
Luci is a digital art series of 1/1s by Sam. It's a story about rediscovering ancient human values in a futuristic world.
Since its start in October 2021, 8 pieces have been released, earning $1.4 million in first-time sales and around $690,000 in follow-up sales.
"VII. Wormfood" was auctioned at Christie's for $252,000, whilst the most expensive piece sold was "VIII. Infinite Ceremony" for $263,000.
Why has his work become so praised and expensive?
This is the million dollar question.
There appears to me to be some science and art in becoming a top-selling artist, but I think there are some commonalities amongst the finest.
Complete dedication to the craft
Years of experience
Beautiful work on both a physical and conceptual level
Loyal and deep-pocketed collector base.
I have not seen a deeper online connection between an artist and his holders than what I have witnessed between Sam and his Skulls of Luci holders.
Sam and his team must be praised for that connection. They seem to recognise what others sometimes miss: that digital art collection is more than a purely financial transaction; it is a connection between artist and collector which continues to exist online post-purchase.
Something cool to close
The latest editions bought by collectors for 3.33 ETH were not just NFTs: they bought an obligation.
Those buyers had the opportunity to interact with the 1/1 of The Monument Game and produce an “Observation” - where they had a limited number of characters to engrave their thought on top of the grand masterpiece of art.
Collectors became writers, poets, and co-creators in this process.
This type of inspiration and mobilisation of his collector based truly inspired the space this week.
Congratulations to Sam and his team.
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