People Are Pissed At Moonbirds

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What's Dropping ⚡️

• One of the Mega Mutants was sold for $3.9 Million USD yesterday (@thedropnft)

• After Nomad posted an ETH address requesting that hackers return funds, nearly $32.6 million was sent back from those involved in the heist. Another $150M is still missing. (Twitter)

• Bitcoin ATMs are popping up more and more, with nearly 40k worldwide. (Finbold)

• Another crypto exchange (Hodlnaut) halts withdrawals due to the current state of the market. It seems many start-ups bit off more than they could chew. (Hodlnaut)

• Truth in Advertising just sent a warning letter to 17 celebrities requesting they are more transparent about their connections to the NFT projects they promote. (BuzzFeed)

• Tom Brady is down almost $200k on his BAYC investment earlier this year. Something tells us he isn't too bothered by this, though. (Yahoo!Finance)

• Orange Comet has helped franchises such as The Walking Dead step into Web 3 successfully. They have their eyes on pro driver Leah Pruett and will be collaborating with her for the Smoke Racing Collection, which will feature animated Nascar hotrods. (SportsBusinessJournal)

• Decrypt shares some more information regarding Vitaliks' stealth address proposal. (Decrypt)

• Check out this interesting list outlining some of the most expensive cars NFTs ever sold. (TNW)

• Remember Wolfgame? Here is a thread revisiting that crazy time in NFTs.

Moonbirds Moves To CC0 🦉

Following Kevin Rose’s announcement earlier this week that Moonbirds will adopt a Creative Commons CC0 copyright code, the project has devalued 3 ETH on its floor price. Prior to this switch to CC0, every owner had exclusive commercial rights to their Moonbird NFT. They could create an entire brand around their image, and they had the right to do so because the rights to its image were solely theirs. This is the case with Bored Ape, and there are plenty of examples of folks leveraging the social capital of their Ape to create products that then subsequently sell because of the project's overall outstanding reputation.

Many Moonbird owners are unhappy, to say the least, because they had positioned themselves to leverage their exclusive rights. In other words, people might have been okay with the NFT being CC0 had that been its designation upon purchase. Some have gone so far as to suggest initiating legal action against Moonbirds, or trying to rationalize their anger with claims regarding the legal permissibility of such a switch. As it stands, Kevin Rose and the company never actually verbally promised exclusivity over the NFT’s commercial rights for holders, so making the case against the copyright change would be difficult. But the fact that holders knew that they had full commercial rights over their Moonbirds meant that they generated expectations over the possibilities that came with the territory.

On the other hand, there are people who are thrilled that the project is entirely public domain, because this means that more people have license to contribute their creativity to the project, thereby adding value to the collection as a whole. Ultimately the ‘best’ copyright status of the project really depends on what its visionaries - its founders - have in store, and perhaps Kevin Rose is just putting his chess pieces in place.

A 🧵 On Meebits 👤

Is Lore The Next Meta? 🏰

When creating an NFT project, there are elements that must be considered when developing the design. Do you want to be an art-based project, or a utility-based project? That choice is usually defined at the inception of the project. Yet, most people forget about the ultimate lore; the storytelling.

With recent NFT releases like Goblintown and Jenkins The Valet, storytelling has come to the forefront as a major form of utility in the NFT space. By creating an interactive narrative for holders, the projects tend to succeed over time because they build organic interest. This new form of storytelling, which includes holders that find themselves ingrained in the lore, is something that was pioneered and perfected by Truth Labs, the founders of the goblins.

Projects are beginning to understand that community incorporation is a vessel for success because it kills two birds with one stone, the holders feel valued, and the project receives a push in the direction that the community truly desires. For example, a project called CrudeBorne was released 48 hours ago, and has been steadily dropping clues and puzzles for the community to solve. This includes the utilization of morse code, philosophical literature, physics, mathematics, and cryptography. The community is at the center of their lore because they must solve everything together. Clues are dropped periodically, so the community consistently feels engaged. That’s their utility. Engagement and mystery, while using pieces from academia. More projects will start to utilize this metric over time. Storytelling is the next meta. WAGMI.

Our good friends at Jenkins The Valet have an amazing Twitter space lined up to discuss the lore behind Azurbala, a defining setting to their universe and something worth hearing about. Set a reminder for the space here.

Meme Drop 💧

lol with all due respect shoutout to Tiffany & Co. for the 30eth mint sellout

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