• The Drop
  • Posts
  • Otherside Metaverse Test = Huge W

Otherside Metaverse Test = Huge W

Are Free Mints A Meta?

July 07, 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 ⚡️

  • Crypto lenders Voyager Digital have filed for bankruptcy. Countless companies are learning big lessons in the past year or so. (TheVerge)

  • A new stablecoin hits the market and is backed by the Euro (1:1). This Euro Coin (also called EUROC) will be issued by Circle, the company that issues USDC. (Circle)

  • Jim Cramer can't decide if he likes crypto or not. When things were hot, he claimed to be a big believer and backer. Now he claims it is all a waste of time. If you know Jim's recent stock selections this is a bullish signal. (CoinQuora)

  • After nearly a month of crypto outflow pushing charts negative, we finally hit a positive week with an inflow of $64m, with ETH being particularly positive for two weeks straight. That's what we like to see! (Coinshares)

  • LimeWire finally returns with marketplace along with an epic collection from Travis Barker. (Twitter)

  • Cool Cats offer a fun distraction with solvable puzzles this week. Winners will receive unminted NFTs from their collection! (Twitter)

  • Entrepreneur and The Apprentice finalist Sabrina Stocker reveals an upcoming tennis NFT collection called 15 Love. (Twitter)

  • Startup Bitmark announces successful funding of their NFT wallet called Autonomy. The company's kicker is the built-in ability to create your own virtual NFT exhibition using this gadget. (CoinDesk)

Otherside Metaverse Stress Test ✅

When attempting to provide utility for holders, the most important factor is “execution”. Lands have been created; lands have been bought; lands have been developed. But lands have not been developed like the one by Yuga Labs. That became apparent in the first load test of Yuga’s Otherside on Wednesday, 7/6.

The goal of the load test was to break the server, thus highlighting the required fixes to experience a glimpse of what Improbable IO has been cooking up. It also allows Yuga Labs the opportunity to load test their server, which in turn shines a light on any issues prior to the unveiling of the full land. It functions as a “two birds one stone” maneuver, as holders are happy to get a taste of what they’re going to ultimately receive. Additionally, developers get to air out any grievances, so that come launch day, everything goes according to the plan.

To be fair, Improbable and Yuga knocked it out of the park with their first load test. Not only were there approximately 2,500 concurrent users, but the quality and seamlessness of the experience were impeccable. People reported experiencing 60 frames per second (FPS) with little to no ping. No glitching. No buffering. To take it a step further, the website allowed for easy entry to holders and provides a very clean UI/UX experience. Hell, it’s Yuga, this shouldn’t surprise anyone.

Otherside will perform another test on July 9th at 12PM EDT. Given the delivery and execution by Yuga in the past, they are ticking all the boxes before they unveil their true masterpiece. This is exactly how a Web2 company functions. Make sure the product is working well before displaying it to the masses. That testing process shouldn’t be any different in Web3. See you on the Otherside. WAGMI.

Are Free Mints A Meta? 🧐

With the bear market in full swing, it’s become apparent that the degens of the NFT world are looking for anything to get their hands on. While trying to consistently flip NFTs for profit, they also want to avoid investing capital on project mints. This is where the free mint meta comes into focus.

1,340 tweets with "free mint" in the last hour!

What started with Goblintown releasing a free mint at a time when the market was bleeding, has now turned into a major marketing tactic for many projects across the spectrum. In the past few weeks, it seems like every new project employs a free mint. While that isn’t necessarily a bad thing, most projects are just try to mimic what Goblintown is, and because of that, they fail a majority of the time.

Regardless of whether they’re mimicking the goblin free mint meta, these new releases provide an outlet for degens during this down period and maybe even possibly a certain level of stability that is hard to see. These free mint projects have had consistent trading volume at consistent prices and are literally just trading to trade. In a weird way, it’s a beautiful thing.

Bear markets weed out the individuals that are in the crypto market for the short term. While degens consist of mostly short-term traders, they’re a huge part of the overall market outlook. Degens are a foundational component of the market, and their trading methods in these dark times show that they’re not going away. Free mints may stick around for a while, and a majority of them may fail, but they’re proof that people are building. It’s a build market. Not a bear market.

Meme Drop 💧

Recent Articles 📰

Did you enjoy this newsletter?

Rate out of 5
1  |  2  |  3  |  4  |  5

Login or Subscribe to participate in polls.

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:

Want to advertise your brand to 20,000+ readers?

Submit a form here.

Want to get your project featured in our Wednesday Up & Coming Section?

Submit a form here.