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DeLabs' $3 Million Move To Polygon

Frank Got Paid + Snowden's New NFT Project

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Von Doom & Gannon Breslin
January 11, 2023

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Here is the breakdown of today's newsletter:

🗽 Snowden's new NFT project💰 DeLabs received $3 million to move to Polygon

  • Grammy award winner A.R. Rahman just announced KATRAAR, their upcoming musical metaverse. Here's what they had to say about it. (@arrahman)

  • LG (the TV company) announced that using your Blade wallet you will soon be able to buy, sell, and trade NFTs using your LG smart TVs.

  • Game of Thrones: Build Your Realm minted yesterday on NIFTY to flying numbers. (N)

  • Joe Ranzenbach has joined the Doodles team full time as their head of product management. See announcement here.

  • Core DAO testnet completes successful NFT mints, marking a positive step forward for the newer blockchain. (@CoreHoneycomb)

  • SWOOPS Season 0 goes live, showcasing robotic basketball player NFTs that you can form into your own team. (@PlaySwoops)

  • Gala games claim to be working with The Rock in a now-deleted tweet. (@GoGalaGames)

  • BONK NFTs are flying high on Solana while the native token dips. (DC)

  • Claynosaurz clutches a new milestone. Records $1M SOL in total volume.(@claynosaurz)

Snowden & Ellsberg Pentagon Papers NFT 🗽

One-of-a-kind NFTs are second to none in the space. But every so often, we get a 1-of-1 piece that is unlike any other. We’ve seen Jack Dorsey’s first tweet be finalized in NFT form. We’ve seen real estate properties created as NFTs. We’ve even seen Snowden’s first NFT called “Stay Free” which combined his image and court ruling.

With this newest release called "Wouldn't You Go to Prison to Help End This War?", Snowden is partnering with political activist Daniel Ellsberg, who is notorious for his release of the Pentagon Papers, which is a paper trail that shows how the Lyndon B. Johnson administration allegedly lied about their efforts in Vietnam to the American people. For the release of this information, Ellsberg was originally charged with conspiracy, espionage, and theft of government property, all of which were dropped later in the future. And if you know the story of Snowden, you know the stark comparison that these two experiences show, despite being decades apart.

💡 Here's the breakdown:

  • PleasrDAO… they won the original Snowden auction for $5.4 million, and now they’re partnering with him to release his second. They are also famous for buying a Wu-Tang Clan album for $4 million back in October 2021, previously owned by infamous druglord Martin Shkreli and confiscated by the US government after his indictment

  • Charitable Metric... proceeds from the sale of the piece will be distributed to the Freedom of the Press Foundation and the Daniel Ellsberg Initiative for Peace and Democracy. Snowden’s first NFT also gave all proceeds to the Freedom of Press Foundation.

💡The DropNFTs are often seen as ways to create ecosystems of value generation and future Web3 development. Despite this, NFTs should also be seen as creating digital artifacts. Despite the Pentagon Papers already being available to the public since back in 2011, to create an NFT that also benefits press initiatives and transparency. Snowden and Ellsberg have both been used as pawns to hide secrets. Despite this, they choose to still shine light on issues and show people what they might have forgotten over time. WAGMI.

DeLabs $3 Million Move To Polygon 💰

DeGods and y00ts founder, Frankdegods over the weekend shared a screenshot of Discord announcement which revealed DeLabs, the startup behind top Solana NFT collections DeGods and y00ts, received a $3 million grant to move y00ts to the Ethereum layer2 protocol Polygon.

Frank described the funds as a “non-equity grant,” which implies that Polygon isn't receiving stakes in DeLabs as the fund is for the DeLabs team to expand and to kickstart and initially help scale the crypto incubator that they’re building. In addition to the crypto incubator launching budget, DeLabs will also put the funds towards hiring efforts. “DeLabs, as a company has been understaffed for a while, securing extended runway with non-dilutive capital, is huge for us, because it means we can be a little less conservative in our monthly burn,” he (Frank) said.

💡 The DropThe founder claimed the team was offered even more significant sums from other blockchains than it got from the Polygon deal but decided to partner with Polygon because it would be the best platform for the project. “We didn’t take this deal for the money. That’s just a nice bonus and we will use it effectively. We did this because it’s the most exciting direction for y00ts as a project.”

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