#101 Solana Phones Hit $5k
Demand for SOL phones breaks supply chain
GM - this is The Snapshot, edition #101.
This is what I’ve got for you this week:
This Week In NFT World - Solana Saga to $5k from $500 RRP
Sponsored Post - Lil Nouners Take Over Art Basel Miami
Notable Sales - CryptoPunks, Penguins, Bodoggos
Investor Focus - Frame Airdrop
For sponsorship enquires, please DM me on Twitter.
Have a great day,
B
This Week In NFT World - Solana Saga to $5k from $500 RRP
The Solana Phone to $190k?
That was the price of a recent original iPhone sale.
On the show last week @Legendary_NFT outlined the legit game theory for Solana phone holders to either open the phone and enjoy the airdrops VS keeping it in the box and preserving the phone. What is going on?
The price of the phone (which retailed at $500) has skyrocketed to $5,000 on eBay after news that certain protocols have - or intend to - airdrop the phone free money.
Here is Across Protocol donating to the Solana Phone Retirement Challenge (!)
The free $250 sent by Access Protocol
It is now the legitimate opinion of many that this phone is some sort of “collectible grail” that will continue to receive free money during this bull market. Only in crypto!
Gordon Goner first Solana NFT buy sends Bodoggos up 85% to 13 SOL
Since the founder of Bored Ape Yacht Club bought his first Solana NFT, a dope Bodoggo NFT, the collection went crazy.
It rose 85% on the day to 11.69 SOL from 7 SOL earlier in the week (has now settled at 8.5 SOL).
This taps into something much more important happening in the NFT market right now: the rise of Solana NFTs.
Unique daily SOL NFT buy wallets hit almost 20,000 this weekend Context from
"Unique daily SOL NFT buy wallets hit almost 20,000 this weekend and remains well above 10,000. That's nearly 2x as many as daily ETH NFT buy wallets, a number which hasn't grown in 6+ months."
Details from @punk9059
New users (and some Ethereum users) are moving over to Solana in numbers.
What people have not grasped right now is how expensive Solana NFTs have become.
This week we played a game on the show: guess the value of the following Solana NFTs in USD
- 1 Madlad
- 1 Claynosaur
- 1 SMB Gen 2
- 2 Bodoggos
@Legendary_NFT was off by $15k.
Even now that we cover Solana NFTs much more - we still haven't fully processed how expensive they are now that SOL price has moved from $20 to $92. (During this move in the price of the underlying coin, NFT prices have continued to increase - creating a compounding increase in USD value of the NFTs.)
Gaming titan Ubisoft Champions Tactics free mint surges to 0.25 ETH
"Ubisoft launched its Warlords NFTs on Ethereum for the @ChampionsVerse game Monday, and after a free mint, they're generating millions of dollars worth of trades."
From @decryptmedia
Gaming NFTs continue to do well in the current environment.
Many industry titans are entering at a free price point to let the market decide the real value of the NFTs.
A great sign for Gaming NFTs (though there does appear to be too many gaming projects raising huge funds at the moment. I suspect some will falter.)
And crypto feels very good again…
The ‘most interesting man in the world’ appeared in an advertisement by Bitwise to shill the upcoming BTC ETFs.
Whilst the ETFs have still not yet received official approval, it appears there is increasing confidence that they will receive approval in 2024.
Sponsored Post - Lil Nouners Take Over Art Basel Miami
Lil Nouns DAO unanimously voted to fund Lil Nouners $10,000 to take over Art Basel a few weeks ago. And that is exactly what happened!
The Lil Nouners hosted an all day Nounish event at Art Basel Miami, including talks from headliners @jessepollak from Base and @LucaNetz from Pudgy Penguins.
Thanks to these legends for all the work yesterday with Lil Basel: @CardnoNFT @modrovsky @EnglishNFTea @snack_man and especially @GoodBeats. Special s/o to @jessepollak for an amazing lightning talk about his DAO journey and @LucaNetz for talking about his builder journey with @pudgypenguins. Two visionaries (and two of the nicest people in this space!) We really appreciated you swinging by Bagels & Builders yesterday!!
Everyone had such a great time. It was the first time many of us met each other IRL so was pretty awesome to finally connect and put names to faces.
Mike put Nounish art up all over Wynwood, Miami
If you want to join a community that consistently punches above its weight with its community members and the leaders it can attract check out our website.
Notable Sales - CryptoPunks, Penguins, Bodoggos
CryptoPunk, Blue Bandana - 53 ETH ($114,000)
3 digit ENS, 484.eth - 12.99 ETH ($28,000)
Pudgy Penguin, Gold - 33.69 ETH ($75,000)
Overworld Supporter Key - 27 ETH ($60,000)
1/1 Bodoggos - 559 SOL ($43,000)
Investor Focus - Frame Airdrop
Frame will launch a creator focused L2 with a token. Interestingly they will reward NFT traders. In the end, on-chain data is king.
You can check your eligibility here.
Some key points:
This is just the initial distribution of $FRAME. The token will be transfer-locked until a later chapter.
As users build, trade, and transact on Frame Mainnet (launching on January 31st), it will be distributed more to the community and everyone who helps make Frame great.
The official token will be launched alongside Frame Mainnet.
I like the specific use case for an L2 because the market feels saturated + I like the token (there is also mention of a Creator Fund which I hope will be utilised to incentivise creators).
It sounds like it would be good to use the testnet in the meantime.
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