#90 Zora helps creators mint for free
How the protocol aligns incentives between artist & first collector
GM - this is The Snapshot, edition #90.
Welcome to the new subscribers this week - we are now at 2,080 subscribers!
I write about NFTs/crypto, and solopreneurship in web3.
This is what I’ve got for you this week:
This Week In NFT World - Zora helps creators mint for free
Sponsored Post - Lil Nouns Take Over Art Basel With $10k proposal
Notable Sales - ACK, Grant Yun, CryptoPunks, Chromie Squiggle
Crazy Tech - How AI will help with your crypto transactions
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
Zora helps creators mint for free
There are 2 huge barriers for on-chain creators.
1. Technical hurdle of using smart contracts
2. Startup costs
Zora just announced an ingenious solution:
You can upload your creation WITHOUT funds because startup costs are passed on to the first collector.
What's their incentive?
In return for bringing works onchain, the first collector receives Protocol Rewards.
It is 0.000111 ETH for every subsequent mint on that edition.
This is a game changer for creators who do not have the funds to deploy and operate their own smart contract right away. And it aligns incentives with your first collector who would like to earn more by seeing your work succeed.
OpenSea focuses on creators with new studio of tools
OpenSea has announced Creator Studio. Creators can now "focus on creativity instead of operational mechanics".
You can create and manage a drop end-to-end — including setting up allowlists, uploading media/metadata (with previews), & let your collectors mint using a credit card.
Removing the technical barriers for creators is really important, and so this is a positive step to helping creators distribute assets more easily.
However, the 10% fee on all proceeds of sale has received some criticism.
The MoMa launches Postcards with 15 of the best digital artists
The collection operates like a "digital chain letter".
There were 15 blank stamps which were collaboratively designed & "signed" by the artists.
After some confusion where we thought collectors would be able to participate in the collecting of these stamps, it appears that it was only the artists who were co-creating on each-others stamps.
Dmitri Cherniak did release this “goose generator” however - a nod to his famous “Goose” NFT which sold for more than $6M.
Nike Reveal IRL Trainers As Utility For Our Force 1 NFT holders
Hilariously titled, This Is Not A Jpeg (TINAJ) trainer has just been announced by Nike.
An Air Force 1 Low, the pair will release on Oct 20 at $120 exclusive for Our Force 1 NFT box holders.
More than 60,000 Our Force 1 NFTs were sold at $20 each, raking in more than $1.3M for Nike.
Sponsored Post - Lil Nouns Take Over Art Basel With $10k proposal
Lil Nouns DAO just passed a $10,000 proposal by some Lil Nouners to proliferate the Nounish meme in Miami at Art Basel: 1666 Yes votes to 0 No votes!
Why did this pass?
IRL activations are one of the best ways to bring together a community and to introduce those outside the community to our ecosystem.
The Lil Nouners proposed to host an all day Nounish event on Thursday of Art Basel Miami week at Hodler Gallery.
And the proposers are all trusted members in the DAO who are known to deliver: Cardno; Index; Mike Good; Snax; and Prof Werder.
It’s not the first time Nounish events have taken place at Hodler Gallery
I am actually flying out to Miami and cannot wait to attend!
If you are curious about contributing to a cutting-edge DAO and getting paid to bring your ideas to life check out how the winning proposal was drafted for more details.
Notable Sales - ACK, Grant Yun, CryptoPunks, Chromie Squiggle
ACK, The Muse - Sage Green - $40,320
Grant Yun, Last Supper - $95,000
CryptoPunk, Purple Hair - 68 ETH ($113,000)
Snowfro, Chromie Squiggle - 26 ETH ($43,000)
Crazy Tech - How AI will help with your crypto transactions
I have found the most helpful emerging use case of AI is as a type of “virtual assistant”.
Chat GPT for conversations; Midjourney for images. AI can help you with all of your questions and creations.
This week I became aware of a more specific tool which will levereage AI as part of a crypto wallet.
Dawn AI is a crypto-copilot: a competent personal assistant that will help you navigate the Ethereum blockchain.
It can:
- Send transactions
- Interact with protocols
- Query what's happening on-chain
- Serve as a guide, explaining how crypto works
And you can do that all via chatting with it by text - pretty crazy.
The writing is on the wall for banks.
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