We Got The NFTea

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! (Also don't forget to follow us on our NEW Instagram!)

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What's The Tea 🫖

• There was already a ton happening before the Beanie drama unfolded, then yestereday all hell broke loose. Massive allegations of fraud, intimidation and a litany of other issues started dropping throughout the day - some from people who claim to have known him for over a decade. Doxxing him ensuing followed by the memes. This epic thread by NFT Ethics reads like the pitch from an upcoming Andy McKay film. Wolf Game and Pixel Vault, projects that were historically closely associated with Beanie also made public statements distancing themselves. So. Many. Memes. There’s a pretty insurmountable amount of publically questionable things the community has witnessed ($BLOOT & $BGLD to say the least). Also, important to note, one of the main accusers here was previously charged with battery against a pregnant woman so we’ll keep an eye on this and expect Beanie to comment soon.

• MetaHero Planet claiming is live.

• Wolf Game largest esports prizing pool in history.

• Cool Pets public sale will be 0.5 ETH per and are cute AF.

• MyMoonBoots, the Blockchain inspired community dropped their MB1 NFT which acts as an access token for one of the most elite and exclusive communities in the space, is hosting an Alpha filled AMA in their Discord on Wednesday.

IreneDAO Makes A Scene 👀

A series of events from this past week might have accidentally triggered the beginning of the end of OnlyFans. This past Thursday, an NFT collection called “IreneDAO” hit OpenSea. The collection was launched by an Instagram model named Irene Zhao, who is active in the crypto space and working on a decentralized social media project called SO-COL (we’ll talk more of this later). The collection is a series of approximately 1,100 photos of Irene with plain colored backdrops, and Valentine-gram-like phrases stamped on. With a major surge in volume, the free-to-mint NFT’s are now sitting comfortably above 1 eth. Rumor had it the project was a hoax led by some Russian dude who ripped off her Instagram photos, but this rumor was later debunked, as her recent Instagram posts and stories clearly depict she is the one behind it.

We’ve seen literal profile-pic (PFP) collections like this in the past and knock-offs are already popping up, so what is it that sets IreneDAO apart? First, let’s be clear— in the description of the collection, it clearly indicates that IreneDAO is for S.I.M.Ps. “Our core values are: Simplicity, Integrity, Meaning, and Purpose.” But it also states the project is a “global grassroots movement aimed at disrupting the creator economy.” As we mentioned before, Irene Zhao is working on a social media project called SO-COL, which is going to be a Web3 version of OnlyFans, Twitch, Discord, and Patreon that enables creators to connect with fans. This is more than just sending nudes on the blockchain or a simpy collection of nfts— Irene Zhao is creating a foundational tool for the entire creator economy. And we respect that.

Keep in mind, there is still a lot of speculation that IreneDAO is a farce and that it's a completely different person running the account. 

Story Time: Rugged 💀

It happens to even the best of us.

It was a calm, Friday evening and I was out with my friends, enjoying some alcoholic beverages on a rooftop in the heart of downtown Dallas. Indulging in conversation, I was trying not to pay attention to my phone. But every few seconds, I would get a Discord notification. Intrigued, I quickly picked up my phone and was bombarded by a slew of messages regarding a mint. I clicked on the link, provided by my friends, and minted 10 NFTs for a total cost of 0.15 ETH, or approximately $500 USD, at the time of the transaction.

As soon as I minted, I went onto Twitter and started searching for the project name. To my demise, another project tweeted saying that the project that I minted stole the metadata from THEIR project. In panic mode, I joined the fake project’s Discord, just to see if the FUD was real. Seeing some activity, I calmed down and didn’t pay any mind to it. But less than 2 minutes after I put my phone down, I received a message saying that Twitter and Discord had been taken down, thus putting a nail in the coffin. That was how I started my long weekend.

The project that I minted was called Expansion Ape Yacht Club. Thinking that they would mimic the Expansion Punks price action, I fell for the godforsaken FOMO RUG. I didn’t want to wake up the next morning thinking about why I didn’t mint. But falling for a stolen art scam feels even worse; like a real punch in the gut. It’s like the old saying: “Sometimes, things seem too good to be true.” Better days will come. But for now, it’s time to recover 0.15 ETH. WAGMI.

Artist Spotlight 🎨

My name is EKTZ and I'm an illustrative artist. A lot of my work reflects my emotional state and is inspired by events that have happened in my life. I like to use animals in my work to show these raw emotions as they envelop a character of my creation.

My pieces range from emotional and intense to artworks to where I simply want to create something beautiful with no other intentions behind it. I believe there is a place for work that is simply there to be beautiful and admired, our world is grim enough and my work can be a way to soothe the soul from the harshness of reality.

Before NFTs I was working as a freelancer for a couple of years, always struggling to skirt by and meeting strict deadlines while running from the dreaded 9-5 which was always at my back trying to catch up with me. The NFT community has really changed my life in unimaginable ways and I owe a lot to them. I can finally make art that I feel in my soul and that makes me proud. The freedom NFTs has afforded me is unimaginable

To see more of EKTZ's work: Twitter, Foundation, Instagram

Meme Drop 💧

FTX's NFT Marketplace 🔥

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NFT Buzz - Project Breakdown

Another must-watch video by @yarramishog

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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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