#71 The Penguins move $500,000 product
Does IRL business success make NFT project's prices go up?
GM - this is The Snapshot, edition #71.
Welcome to the new subscribers this week - we are now 1,840 subscribers!
I write about NFTs/crypto, and solopreneurship in web3.
This is what we’ve got this week:
This Week In NFT/Crypto World - The Penguins move $500,000 product
Sponsored Post - Lil Nouns DAO
Notable Sales - Fidenza, Autoglyph, Opepen, Pak
Creator Corner - Huge newsletter partnership for Tyler
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 - The Penguins move $500,000 product
The Penguins move $500,000 product
Amazon website for the Penguins
In its first weekend of going live with physical toys, Pudgy Penguins - a web3 project, made $500,000 by selling cute toys on Amazon.
Naturally, the price of the NFTs increased rapidly too - now one Penguin NFT will cost you approximately $10,000 - value accruing to the NFT holders!
OSF explains $1M collecting spree
OSF, a very successful trader, collector, and artist in web3, made some huge collecting moves over the last few weeks, all of which he explained in this thread.
In summary he believes in historical significance AND cultural significance (ie just because something is old does not make it “historic”.)
Sotheby’s Grails auction beats all expectations
When 3AC - the now defunct hedgefund who lost a lot of money - bought a bunch of NFTs at the very top of the market in 2021, many thought they had very much paid over the odds.
Not the case it seems.
As part of the liquidation process some of these NFTs have been auctioned off: and although they are down in $ value, they are up in ETH - not at all bad!
Here’s what some of the pieces looked like and what they sold for.
Huge sales at Sotheby’s sparks NFT run
As a consequence of these better than expected sales, by Tuesday in the week, ArtBlocks collections were up big - anything from +25% to +65% - a very good week for fine generative art!
Binance denies commingling funds
Co-working, co-living, and now “commingling” seems to be the new trend in crypto.
Binance has been accused of commingling customer funds, to the extent that it would be difficult for users to know exactly where their funds really are. Binance denies these allegations.
(This is exactly what FTX did - taking user assets and putting them in places they should never have been - banking is just never straightforward anymore…)
After the uproar last week about how Ledger - the main hardware wallet manufacturer - could access your seedphrase if they really needed to (which apparently no-one knew about!), Ledger said they would pause the rollout of their latest firmware which would put the new system in place AND they would open source their code so that it could be checked for vulnerabilities.
I’m still not sure this is going to make the most die-hard of crypto fans happy - but it is a more positive communication.
Sponsored Post - Lil Nouns DAO
Do you have cool ideas but need funding?
My friends Cardno, April, Crusher and English have recently received a multi-month deal from Lil Nouns DAO worth 17 ETH ($30,000) to run a Lil Nouns centered Twitter Spaces show - if you have a cool idea like this Lil Nouns DAO could be able to fund you too.
The Lil Nouns DAO has a significant treasury for funding passionate, thoughtful and committed creators in this space who want to proliferate the Nounish message - this funding could be yours, just like it was theirs!
How does funding work?
Lil Nouns DAO releases routine bounties called “props” to which you can submit your ideas to win that funding.
What’s an even bigger deal?
Lil Nouns DAO owns almost 20 Nouns - which means we are in the perfect position to support your biggest ideas by leveraging those Nouns to sponsor your proposal and vote for you in Nouns DAO itself (TLDR: this gets you exposure to the much larger Nouns treasury).
If you are curious about contributing to a cutting-edge DAO and getting paid to bring your ideas to life:
Check out the Lil Nouns DAO website for more details or reply to this email with any questions you’d like me to answer.
Notable Sales - Fidenza, Autoglyph, Opepen, Pak
Fidenza - 370 ETH ($685,000)
Autoglyph - $571,500
Opepen - 25 ETH ($45,000)
Pak - merge - 15 ETH ($27,000)
Creator Corner - Huge newsletter partnership for Tyler
When most people enter web3, they are inundated with opportunities to *potentially* make money quickly.
It is very tempting to down all tools and forget about trying to build something useful for other people when price action is often seen to be the focus.
Not for Tyler.
Tyler’s reaction to the partnership
Tyler has written the Morning Minute - a daily newsletter on NFTs/web3 - for quite some time now and has been rewarded with a huge partnership with Floor, who will integrate his news into their platform.
Why do I highlight this today?
Because there are some key learnings which I am also experiencing in this space:
Routine - it does not surprise me that Tyler is being rewarded because he shows up every day (even on weekends) and audience can depend on him. Creating a feeling in the audience where they are “waiting for” or “searching for” your work is what you want: it proves that you are reliable.
High quality - once routine is sorted, quality starts to matter. Tyler’s work has got better and better over time. Too many people try to make things perfect immediately. It is perfectly fine to iterate over time.
Trust - Once routine and quality is sorted, trust starts to build exponentially. People (i) know you will be there; and (ii) know you will be good. Doing that over and over again - come rain or shine - means you will become the respected voice in your field.
I am a very happy subscriber to the Morning Minute and I’d recommend you do the same.
I hope this breakdown was helpful to see how daily actions can lead to huge achievements over time.
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