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$1.1 Million ApeCoin Stolen?

Anata NFT, What's Dropping, And More

March 22, 2022

Welcome to The Drop NFT Newsletter. Subscribe and join the discord for breaking NFT news, project breakdowns, & artist spotlights. Thank you for following along on this journey!

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What's Dropping ⚡

  • If you haven’t seen the trailer to Otherside (likely the Yuga-powered Metaverse and Marketplace) you really need to. In other BAYC related news, Producer and DJ duo Escape Plan have just signed with global entertainment agency WME for the release of their single "Jungle". The group is represented by their BAYC avatars and is trailblazing the concept of music acts depicted as NFTs.

  • A BAYC Pitch deck has made its rounds on Twitter. Some call BS, others think it's legit. See here for yourself.

  • More businesses are adopting blockchain technology, as Chicago-based management company, Thoughtium implements NFT "Dinner and minting experience", in the hopes of perpetuating human and client connection. Clients were invited to a private dinner, followed by the minting of a digital art piece by local artist Mary Dunlop.

  • Ethereum broke $3,000 again and floors have gone up. Bull market back? Let's not jinx it yet.

  • NFT YOUR DOG: Blockchain-based registry for your pet? NFT project Bullishly Bred innovates with a decentralized breeding registry. Operating on a transparent notion, the program hopes to reduce illegal breeding practices, allowing easily attainable and accurate genealogical history.

  • A band called The Milkyway Pirates (or Fooboos) become the first NFT group to perform on television. Live on Ellen DeGeneres, an ecstatic motion capture powered performance was led by artist Kiesza, supported by fellow developers and bandmates.

  • Veteran turned photographer Drifter releases an incredible urban exploration collection, Where My Vans Go. Consisting of 119 death-defying shots of iconic U.S. locations, Drifter has become one of the highest-selling photographers in the NFT space.

ApeCoin Airdrop Stolen? 💀

Just this past week, we wrote about APECoin and the incoming airdrop. Throughout the entire weekend, APECoin was flooding our Twitter feeds, featuring speculators galore, but primarily positive onlookers. In the process, many Bored Ape Yacht Club owners made a ton of money by selling their claimed tokens. Each BAYC had the ability to claim 10,094 tokens on release day, at an approximate value of $70-80k. But there is one specific BAYC holder that was unable to benefit from the airdrop, and his earnings would’ve been astronomical.

This specific BAYC holder had placed 5 apes into a vault. A vault is essentially an umbrella for all your assets, by assembling them to fall under one single token. They then took that token and presumably staked it to earn rewards. But what they didn’t account for was the reality that someone could essentially use that token to create an arbitrage opportunity. And that is exactly what happened.

Once the dust had settled, it was confirmed that the 5 apes in the vault had been borrowed and used for claiming purposes. Yes, you heard that right. Someone else claimed this person’s APECoin which totaled over $1 million in USD. Yuga Labs could’ve taken a snapshot prior to the release of the token, but the method that they used for claiming opened a great opportunity for this exploiter, and exploit the opportunity they did. If you have assets in this space, you should be keeping track of the relevant news associated with those assets. Additionally, you should be careful when making certain decisions, such as creating a vault for small rewards, only to miss out on the one event that everyone has been waiting for. Sucks to be that BAYC holder, but I wouldn’t be too upset if I still had my 5 apes. WAGMI.

The PFP Levels Up - Anata NFT

What if we could control our PFPs? Make them smile, blush or frown depending on emotions we wished to express to other people. Anata, a forthcoming NFT project, is turning this concept into a reality, with an NFT that doubles up as VTubing software. Whereas the static PFP is a step into the world of virtual identity, the dynamic and controllable PFP allows for a more granular articulation of virtual identity. It would be the equivalent of being able to represent a Bored Ape when appropriate, or an Excited Ape when needed. 

Only two thousand Anatas will be released, each tremendously unique since they are all hand-drawn. Although advanced users can download their Anata and render it through a VTubing studio, novice users can simply plug and play with their Anata via a Google Chrome extension. This potential capability will enable the seamless use of NFTs on a Zoom call, Google chat, or just about any other video app that users decide to deem would be a good time to bring their NFT to life.

The development team behind the project is also tenaciously committed to the ethos of decentralization. Stored and accessed through Arweave, the project files will live on a decentralized protocol. Fifty percent of the capital earned from sales will be placed in a transparent community wallet, and an instructional resource in the form of Anata University will also be available for all holders. The drop date has been moved from this Thursday, 3/24, to a currently undisclosed future date. After these releases, the NFT space will have illustrated a fresh precedent for inspiration, and new benchmarks will be established for what it means to be truly innovative.

You can read more about Anata NFT here. (this was not a paid promotion)

Meme Drop 💧

Join Our Twitter Community! 👥

For those not aware, Twitter launched a new feature called "communities" in which people can have a Twitter feed just for the communities that they are a part of. This will allow our team and everyone in the community to tweet about all things NFTs in a more communal form. We have had it going for 24 hours and its been amazing. Join below!

FTX US NFT Marketplace 🔥

The Drop is ecstatic that we are now a partner with FTX, one of the biggest crypto exchanges in the world. Even more epic is how incredibly fast the team at FTX was able to create the ultimate NFT marketplace.

On the FTX desktop, you can buy and sell NFTs with gas-free NFT trading and keep everything in one spot with all things crypto. Buy your crypto and get busy trading right away with no hassle. To have your crypto and NFT trading all under one seamless platform click here.

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Disclaimer: The Drop DOES NOT provide financial advice. All content is for informational purposes only. The Drop is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses. 

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