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Doodles Bucket Auction Today

Yuga Labs Suing Rider Ripps

June 29, 2022

Welcome to The Drop NFT Newsletter. Breaking NFT news, project breakdowns, & artist spotlights - We do the heavy lifting so you don't have to! Join our Discord to win raffles and allow list spots!

What's Dropping ⚡️

  • Snoop is even more bullish on the future of cryptocurrencies and NFTs, claiming "Every great industry has a downfall". He thinks the dip has helped show who the real community leaders are. (CNBC)

  • Here's an eye opening thread about the fate of Blockfi (here).

  • FTX CEO Sam Bankman-Fried says some #crypto exchanges are already "secretly insolvent." (Watcherguru)

  • Nearly $500M has been cashed out to USD in just the last week. Remarkable numbers here! (Coinshares)

  • Rumors regarding FTX purchasing Robinhood are making rounds. Though they have denied the interest of acquisition, the stock price for RH has pumped 12% (Yahoo! Finance)

  • Axie Infinity P2E finally reopens transactions a few months after having their servers and community hacked. They have reimbursed those who lost assets during that time. (The Verge)

  • My Neighbor Alice, a new P2E game with refreshing visuals and fun farming launches on June 30. Watch their trailer here! (Twitter)

Doodles' Bucket Auction 🪣

The Doodles bucket auction is today! Like most of us, you are probably wondering what a bucket auction is and what it's even for... it's okay The Drop has you covered.

First, let's get the necessary details out of the way:

Auction start time/day: 6/29 7 PM EST (today)Auction end time/day: 6/30 7 PM ESTSupply: 24,000 total supply of Genesis Boxes (20k for auction, 4k reserved for IRL)Auction Style: The market determines the price which mitigates gas wars, you place your bid, track auction progress and optionally increase your bid. Bids are declined and funds returned at end of the auction if your bid doesn't get hit. Auction Location: https://doodles.app/

What is a Genesis Box?

According to Doodles, the Genesis Box is "1st edition wearables that will seed the wearables economy of Doodles 2. Never to be sold again. Expect rare apparel and accessories."

What does that look like?

As you probably know, the Doodles 2 collection is dropping in and you can mint a base level 2 with customization options that are never before seen. Traits such as hair color, skin tone, and wearables (of different rarities) will be able to be switched around. The customization will also include animation with original music and the choice to have a full body or PFP. The best part? All these customizations can happen as many times as you like and don't require gas!

With a current floor price of 13.6 ETH, Doodles is one of the strongest blue-chip projects in the space that is weathering the bear market storm. Volume is also holding strong which is usually a very good indicator of project health.

Just yesterday alone there was 499 ETH worth of Doodles traded (27 to be exact). Its exciting to see where this project is going with Julian Holguin at the helm. Julian is the recently appointed CEO of Doodles and has a history of leading successful businesses being a former executive of Billboard.

Are you bullish on Doodles right now?

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Incredible 🧵

Yuga Labs Is Suing Rider Ripps ⚖️

On June 19th, Youtuber Phillion published a one-hour conspiracy theory that accuses BAYC of being a white supremacist organization that tries to mask racist imagery in plain sight. Philion drew a lot of the details for his conspiracy from Rider Ripps’s blog post earlier in the year that ties BAYC imagery to Nazi influences and alignment. Both Rider’s and Philion’s claims and evidence in many minds are far-fetched and hard to believe. Despite this fact, the conspiracy gained traction substantially enough that it was shared widely and has been in an out of news cycles over the past couple of weeks.

Earlier this year in May, Rider Ripps released his own knockoff version of BAYC NFTS named RR/BAYC. After vehemently dispelling rumors of BAYC logos having any affiliation with Nazi/Ant Semantic affiliation, Yuga Labs is now using this collection in addition to his history of slander to sue him for false advertising, trademark infringement, cybersquatting, and other charges. Since he released the copycat project it has traded over 2,900 ETH. In the heat of the blossoming legal dispute, OpenSea has since taken the project off of its market. The BAYC team has handled the situation well, pointing to their existing literature that details how BAYC was inspired by skater culture among other domains. The team is also comprised of an ethnically diverse group of people.

Meme Drop 💧

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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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