NFT Marketplace Wars

What's Dropping, Passive Yield NFT Rankings, BAYC's Huge Partnership

Welcome to The Drop NFT NewsletterSubscribe for breaking NFT news, project breakdowns, & artist spotlights. Thank you to all who are following along on this journey!

What’s Dropping?

Coinbase vs. OpenSea

Did people really think that Coinbase was just going to let OpenSea stroll through the park and make millions of dollars a day without competition?

Yesterday it was announced that Coinbase will have an NFT marketplace by the end of the year. This isn't too surprising when according to Dapp Radar the NFT market grew to an incredible $10.7 billion through the third quarter of the year, up a staggering eight-fold compared with the previous quarter. Looking at the graph below, we will see how quickly Coinbase can gobble up the NFT marketplace market share (OpenSea might be in trouble).

Passive Yield Power Rankings

CyberKongz is not as high on the list as you probably thought! 

Yuga Labs (BAYC) 🤝 Guy Oseary

Yuga Labs are the creators of Bored Ape Yacht Club NFT, and they've just signed with Guy Oseary. Oseary is a talent manager whose clients include Madonna and U2. He previously ran Maverick, a management company which, according to their website, "expands the boundaries of what’s possible for the artists [they] represent." Oseary stepped down from this in 2014 so he could focus on "investing in and incubating companies on the cutting edge of technology and entertainment" according to an article from Variety. And he's done exactly that. Oseary is partnered with Ashton Kutcher in an investment firm called Sound Ventures. They've invested in companies such as AirBnb, Robinhood Markets, Spotify, and OpenSea. Now that we know who Guy Oseary is, we can begin to understand why this is a big deal for BAYC. Though there aren't explicit details on what the future of this partnership entails, we can expect to see Yuga Labs' artwork dispersed more widely into the culture.

Think of Walt Disney's "Mickey Mouse" cartoon. At the time, this silly-looking mouse from Steamboat Willie had little to no cultural relevancy— but now Mickey is one of the most notable cartoons in human history. Walt Disney could have never foreseen the empire that would be built off that one cartoon.

We can't guarantee that Bored Apes are the next Mickey Mouse, but we can expect that Oseary representing Yuga Labs will lead to future opportunities for these artists to monetize on an even greater scale and widen the market beyond BAYC. As for Ape owners, congratulations. You are holding a significant piece of culture. And being part of The Bored Ape Yacht Club will continue to offer exclusive benefits for owners. According to their website, "your Bored Ape can serve as your digital identity, and open digital doors for you." As for the rest of us, we'll be looking out for what comes next.

Artist Spotlight

Hey everyone, my name is Nikita and I'm a graphic designer from Ukraine specializing in visual identity. I have 5 years of experience in logo design and over 100 satisfied clients.

If you write this promo code to me when ordering a logo, you will receive a 10% discount. The code is "PARANOIDROP".

To see more of Nikita's work, check out his Twitter and website.

Meme Drop

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.

Follow the team:

Join the Discord + follow the links below 👇