Disclaimer: This newsletter is not financial advice. We buy what we like, and you should buy what you like.
🎄 Reminder: we’ll be taking a break holiday break after today. And extending our break a bit—Cup will be back on January 12! After constant grind, feels long overdue to step back and hopefully gain some objective distance to review things.
Nothing stood out as a news-worthy item for this week, and it’s the holidays. We’re probably not the only ones running towards that beautiful light in the horizon that’s the holiday break.
So no cover story for today, just a chunky reading list that you can enjoy taking your time with.
Otherwise, happy holidays! If you’re reading Cup, either you’ve been in crypto for a while and adapted to a new market, or you’re completely new and you jumped into this deep rabbit hole.
Whatever it is—you’ve worked hard this year, and you deserve a break. 🥂
🌱 So 10,000 NFT “slices” of the famous Banksy’s “Love is in the Air” will be dropping in early January. “Buyers will receive a digital collector’s card, permission to view the painting IRL, and ‘the right to call the painting theirs.’” Let’s see how they execute it.
🌱 The mysterious artist Pak dethroned Beeple with his latest NFT sale, coming in at a record-breaking $92M. (Look: Pak’s mechanics are always cool, but at some point, these projects engineered so that collectors “win” the game by dropping a ton of money are getting repetitive. But it’s a landmark sale, so sigh, it gets a slot today.)
🌱 There was some hubbub when the new Chief Financial Officer joined the popular Opensea marketplace. The vibe was that Opensea was gonna “sell out”—were they just gonna release an American stock instead of a token? But the new CFO would like to reassure people that no matter what happens, they’ll involve the community. Let’s see if they do.
(Note: How do you even define Opensea’s community at this point, though? It’s such a general service, you can define users, but what’s the parameters for community?)
Want some year-end reading? The Messari research firm has put out its annual Crypto Theses. It clocks in at 150+ pages, and there’s a section on NFTs and Web3.
More slightly technical stuff: here’s a review on Foundation’s new custom contracts feature. (We don’t understand the code stuffs either, but let’s pretend that we do)
Alright, last: want to understand how much it costs to deploy an NFT project on Ethereum? Still a bit technical, but this was definitely written to help beginners understand.
If you’re in NFTs, then it’s definitely worth reading Dror’s piece, “In Praise of Ponzis.” A lot of economic models in the age of the Internet run in ponzinomic structures, and it’s worth understanding that.
A really good read on mental models for NFTs. A provocative quote from it: “NFTs are a better kind of vaporware, and that’s a good thing.”
Hype hype: our very own Gian did a talk about Web3 for a student-led tech organization! Comes with a good list of resources too. :D
0̵̹̯̮͔̘͆̏̒̀̎̀̍͗̄͆̽̎̎̾̽x̸͕̞͇̱͙̭͆̊̽͐̆̚͝ͅṁ̶̒͑̉̾̏̀͐̈̚ @0xmonstoday, i work full-time on @sudoswap. for those who dont know, sudoswap is a completely FREE tool for swapping any combination of assets powered by @0xproject. you can use it for secure OTC, fee-less NFT marketplace, etc. etc. it's SIGNIFICANTLY cheaper than the competition https://t.co/XXAnO3DK4k
Tom Langfield (Tompop) is a graphic designer, musician, and dad from England. We couldn’t pick a better way to end this year, but with his colorful artworks. The combination of geometric shapes, colors, and movements (from kaleidoscope-y, to going around the canvas), encapsulates the energy in the NFT space with the most familiar of elements.
If you want to do something, the Reading List today will genuinely take some time to parse through. Have a go at it.
Otherwise, take your rest, frens.
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