Welcome back to the weekly ART HAUS newsletter. Last week, we launched our first unit of ART HAUS blurb; which you patrons absolutely loved! In case you missed it, do check out our News Archive to give it a read.
This week, we had an interesting flurry of events, from a potential overthrow of the biggest NFT marketplace to a $1 million NFT collection of selfies? Stay tuned, we’ll be discussing more on this soon!
Developments In The HAUS!
We’re thrilled to share further updates on Gnars, an ART HAUS NFT project.
Here are some teasers for Gnars:
- One $Gnar every 666 blocks
- Adjust SKATE / #DAO slider*
- Gnarly #NFT bid submitted
*Slider sets where your bid (if won) goes. A Gnars mini-game is also under development, it’s skating-related. We also designed some cool Gnars skateboard designs, check out our Twitter to view the Gnarly artwork.
Until then… stay Gnarly!
News Of The Week: NFT Marketplace Flippening?
As most NFT enthusiasts should know, OpenSea is the King of NFT marketplaces. With a $14 billion valuation, it literally dwarfs all “competitors”. However, a previously insignificant competitor is disrupting the OpenSea domination. Enter: LooksRare.
Going live on 10th January, LooksRare accumulated more than $300 million in NFT transaction volume in the first 24 hours alone. Since then, it has surpassed OpenSea in daily transaction volume. Talk about an overnight success! But how did they do it?
Strategy: Vampire Attack
A vampire attack, commonly used in the NFT space, refers to stealing another platforms’ user base intentionally. In this case, LooksRare launched a full-fledged “attack” on OpenSea. LooksRare is launched their native token $LOOKS on 10th Jan, giving out 120 million tokens to users of OpenSea… for free! This is known as an airdrop, with some criteria such as the user must have traded over 3ETH on OpenSea, and must $LOOKS will only be claimable for a short period. As such, big spenders on OpenSea effectively migrated to LooksRare, experimenting with their new $LOOKS tokens and the platform in general. On top of that, LooksRare charges 0.5% less in transaction fees compared to OpenSea, yet another reason for OpenSea users to migrate across.
Why It’s So Easy?
If you think about this strategy for a moment, the Vampire Attack is simple, yet effective. LooksRare’s 120 million tokens just “poofed!” into existence, and has already been valued at almost 500 million dollars by the market. In truth, not all Vampire Attacks succeed. Back in October 2021, another NFT platform “Infinity”, also launched a Vampire Attack on OpenSea. While it was hyped up back then, there have been slow developments on the platform, and interest in Infinity is essentially dead. After all, LooksRare’s success is one-in-a-million. Despite the hype, I believe OpenSea still has both feet strongly positioned on the title for leading NFT marketplace, at least, for now. Can’t wait to see what the future beholds for LooksRare, OpenSea, and the NFT marketplace in totality!
Disney has announced a patent for AR in Disneyland, more specifically, a “virtual-world simulator in a real-world venue”. This announcement is timely; as we see more and more companies stepping into the metaverse. Disneyland AR is a huge leap (in time and technology) for Disney, and there is speculation of digital implementation in the physical Disneyland?
World of Women (WoW) is an NFT project promoting diversity, inclusivity, and differences of Women. Indeed, it has empowered women in the NFT community, and is a good representation of the uniqueness of NFTs! Some female celebrities are proud owners of WoW NFTs. Check out this article to find out more.
Bit Hotel metaverse is a new blockchain game in the space. They have a fascinating concept: Buying NFTs which will be displayed as your own room in the Bit Hotel metaverse! You can display your other digital assets in the room, and of course, interact with other players as well. If you’re a fan of metaverses like Decentraland, why not give Bit Hotel Metaverse a shot!
BAYC member known as DillyDilly_eth got scammed of his Bored Ape, but that didn’t stop a fellow comrade from helping him get it back. Have a read to find out how BoredApeG, a BAYC member who had no ties to the victim before, helped him recover his beloved forever Ape.
The Sandbox, a popular blockchain game cum metaverse, partnered with crypto gaming community LootMogul, announcing a tournament with 50,000 SAND to be won! The competition starts on 15th January, so hurry along if you want to be part of it.
So the rumors are true… Nouns in the Superbowl? Well, Nouns DAO had a resounding “YES” for trading one Noun NFT, for a prominent beverage company to include the Nouns glasses in the Superbowl. So will we see the Nouns logo on the packaging of a can of Coke? Only time will tell.
Yes, this is not clickbait! An Indonesian teen took selfies in front of his computer from 2017-2021, before uploading his pictures on the blockchain. The collection titled Ghozali Everyday has become an instant hit (more like a meme). At its highest, one of the NFTs sold for 0.9 Ether… remember, it was only $3 to buy at the start! Ghozali has made over a million dollars (probably from royalties) so far.
ART HAUS Blog Releases
We had a splash of blog posts released on ART HAUS this week! Here they are…
For starters, this post was inspired by the CC0 NFT project Nouns, and led to the inception of our ART HAUS NFT project Gnars. In this article, we talk about the flaws of traditional copyright and the difficulty of copyright in the NFT space, leading to discourse and “Right-click to save” movements. Instead, could CC0 (creative commons license) be the solution to end all wars?
To most people, NFTs are completely stored on the blockchain. However, that’s clearly not the case; Ethereum will be way more congested if it was. In this article, we explore the concept of On-chain NFTs, or writing and building NFTs directly on the blockchain. We also discuss ways to save space while minting NFTs, as well as cutting down on gas such that we keep fees to a minimum.
Amazing read from Scott here! Music, art, and more have always been appreciated in the physical world, so what’s stopping us from putting it in the digital space? NFTs truly broke in 2o21. From BAYC to numerous NFT billboards, and even big brands adopting the NFT concept, we have gained insane adoption this past year. Hope 2022 is better than 2021 in more ways than one! We also cleared some backlog of articles, meaning to publish quite a while ago. As such, the content you’re viewing may not be totally up to date. Hope you still enjoy the read though!
In 2021, NFT was the hype of the year. Ever since Beeple’s Everydays sold for over 69 million dollars, more and more have hopped on the NFT bandwagon. But what is causing the hype on these JPEGs of the blockchain? Are NFTs really worth the money, or are we just in a proverbial bubble? More on that in this article!
Web3 is a term used pretty loosely in the crypto community. Despite that, there’s still a lot of confusion surrounding web3, and what it really is about. In this article, we compared web3 to web2 and even web1, plus how we’re progressing into the future with web3. After all, web2 will inevitably have to hand the reigns to web3, allowing web3 to show its true potential.
Podcasts: Worth A Listen
Token Sales, with Graham Jenkin of CoinList
Graham Jenkin, the CEO of early-adopter crypto exchange CoinList, hops on the call to talk about crypto coins and their future of growth. He also shares about the early days of CoinList, life before CoinList, as well as the challenges and milestones ahead of the exchange. Tune in for a fine listen now!
BrainDrops: A Platform for AI-Generated Art
In this episode of PROOF, we get insights from the co-founders of BrainDrops, a platform for AI-generated art. They discuss how NFTs is an innovation to fuel art appreciation, and how BrainDrops could potentially be the go-to NFT art platform in the future. Who knows what the future of AI-made art holds!
Coinbase NFT’s Product VP on Taking NFTs Mainstream
This exclusive podcast episode with Coinbase’s VP of Products, Sanchan Saxena, really gives insights on Coinbase’s preparations for their future in the NFT space. Coinbase is one of the key industry players in the cryptocurrency exchange market, known for being one of the most beginner-friendly platforms. In this episode, they explore how Coinbase is trying to acquire its share of the booming NFT industry while boosting the adoption of blockchain technology.
We’ve come to the end of our blurb, thanks for sticking around! This week has been a real roller-coaster ride, so we hope this summary was short and sweet. Stay tuned for the next episode!
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