Issue 17 🍵 Beeple, Apes, and Meebits

A look at some recent launches, another meme sells, and more.

Disclaimer: This newsletter is not financial advice. We buy what we like, and you should buy what you like.

Well, it has been a week of NFT sales! Let’s run through them, shall we?

Beeple Spring Collection - the famous digital artist Beeple released a collection on the Nifty Gateway platform. It was comprised of a mix of $1 raffles and some auctions, including a gamified one! The final leaderboard winner came in at $1,234,567.88, whew.

Bored Ape Yacht Club - as you can tell by the name, it’s a collectible project around apes. There are 10,000 of them, sold for 0.08 each—no pricing curve! So far, number 8135 takes the spot for largest sale on secondary, with 21 ETH.

Meebits - 20,000 3D voxel characters, from Larva Labs. They offered a portion for free to previous CryptoPunk and Autoglyph holders, and sold 9,000 to the public at a Dutch Auction. Combine potential interoperability across different voxel worlds with the massive wealth of most Punk holders, and you get a $70M auction that was over in a few hours. As of the time of this writing, the most expensive secondary sale was 8598, for 420 ETH.

These drops were all pretty different. Different distribution methods, different price points, but we really want to talk about different audiences.

For example, in deeper crypto circles, there are staunch Beeple non-supporters. When Beeple sold all his ETH into USD, there are some who took it as a betrayal and have a really strong stance against buying his work. Some firmly said they weren’t participating in this latest drop.

But really, tally up the top ten bids on Abundance, the gamified one, and it still totals up to a few million dollars. Beeple’s doing quite well, despite the spite from crypto personalities.

We touched on different audiences before, in Issue 13, and this week just reinforced it. NFTs have grown really quickly beyond just people in crypto, and crypto Twitter folks are actually the minority in NFT land.

And well, is that a problem? Or is it a good sign that NFTs have been adopted so much?

We really don’t know. And maybe someday, we’ll figure out how we feel about this split in audiences, but for today, we leave you here.

Other news

🤝 The digital entrepreneur GaryVee announced his NFT project, VeeFriends. It seems to be tied to an upcoming in-person conference, and includes perks such as mentorship!

🔥 Memes are the art of the 21th century: look no further than the Disaster Girl meme selling for $500,000! You know, that meme of a little girl smirking at the camera as a house burns behind her?

🦄 The contracts for the third version of Uniswap, the popular decentralized exchange, are already live! Each pooled fund is now an NFT, and they look really damn cool. There’s no UI yet, as of the time of this writing!

👀 eBay may be considering supporting NFTs on their platform. Considering how many collectibles and trading cards live on eBay, this is pretty interesting.

🔨 This was a little buried: blockchain game Youtuber cagyjan broke his physical NFT from Go Gala Games. It was partly for the clickbait content, but also part belief that the digital NFT matters more than the physical statue. The game ended up banning him from the Discord, though. Who owns what, in this scenario?

Reading list

  • A damn good dive on the renaissance of cultural investing. “Instead of a portfolio of your favorite stocks and bonds, it’s a portfolio of your favorite art, clothes, game skins, (Top Shot) moments, etc…” Get rewarded for having good taste!

  • If you’re curious about digital fashion, GQ wrote a good piece on it. No one really wears collectible sneakers anyway, but what if you can wear it digitally without ever tarnishing your collectible?

Creative corner: pxlhns

If you can’t tell by the username, pxlhns (pixelhans) is a pixel artist. As we’ve mentioned before, he was the inspiration for the viral Chubbies project, so it’s endearing to see him breaking into the scene with a project of his own!

Meet Cartlads, a collectible project to “bring nostalgic video game cartridges back to life.”

Not only are they super cute, but we also appreciate that the backgrounds are seamless! That’s some good shit.

You can find more of pxlhns work on Twitter, and you can find Cartlads on their website or Opensea!

Try this: follow NFTDrops

Cup doesn’t really talk about upcoming drops often.

So if you’d like to be updated on that, we’ve personally found the Twitter account @NFTDrops to be pretty helpful!

Here’s a sample on the Beeple collection.

If you’re reading this: thanks for reading all the way to the bottom. <3

🍵 See you again next Wednesday!