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Premint Launch Pass + On & Off Chain Wars

Spotlight: Yuga Labs Buys CryptoPunks & Meebits

March 15, 2022

Welcome to The Drop NFT Newsletter. Subscribe and join the discord for breaking NFT news, project breakdowns, & artist spotlights.

🚨 This newsletter is sponsored by FTX 🚨

FTX US is a regulated crypto exchange that hosts some of the highest amounts of trading volume and daily active users in the industry. 

On top of this, FTX US offers desktop and mobile trading of Ethereum + Solana NFTs with NO GAS FEES! Start your FTX journey today by getting set up here 🔥 

Happy Tuesday!

What a weekend of news it has been, definitely don't miss out on the opportunity below the What's Dropping section 😊 

What's Dropping ⚡

  • Popular collections create NFT-themed experience at Austin's South by Southwest tech festival. From immersive experiences with a massive Doodles installation, Fluf World to designing your own CryptoPunk, the event helps to further validate metaverse experiences within the real world while inspiring other projects .

  • World of Women (WoW) has an upcoming Galaxy expansion mint. “Allowlist” spots are being raffled off on their Twitter page and in Discord. Additionally, they recently partnered with Sandbox to drive female mentorship and education. WoW to the moon!

  • Ledger announced a limited edition hardware wallet, the Ledger Nano S Plus.

  • Physical collectibles brand Funko Pop! gears up for the release of Transformer-themed NFTs in the form of digital cards. Holders of rarer cards will have the opportunity to win physical toys.

  • There is a lot of speculation surrounding Yuga Labs acquisition of Larva Labs, and the companies plans for these high end collections. Rumors of a marketplace are swirling - that KYC from the other day had to be for something.

  • After huge funding round, Metaverse fashion brand Space Runners raised $10m+ USD in funds to further expand their virtual clothing lines. With a "wear-to-earn" business model, the project is set to set the example of stylish virtual wear.

  • NFT-based animated series "The Gimmicks" by Mila Kunis' studio is set to mint on March 18. This NFT comedy will allow holders of the NFTs to vote on the direction of the storyline.

  • Open-source NFT Gaming protocol Aavegotchi announced a release date for Gotchiverse, an immense gaming metaverse. A huge undertaking by the developers, the game looks truly gorgeous and has the potential to be a big player in the NFT and play to earn communities.

PREMINT Collector Pass Launch🚀

PREMINT has powered access lists for over 1,500 projects, including Cool Pets, XCOPY’s Grifters, DeekayMotion, SHAQ, Invisible Friends, and most recently, Gucci. Over 400,000 NFT collectors have registered for access lists over 1.25m times on the platform.

Up to this point, PREMINT has never given collectors a way to browse the available projects and get insights on which are the hottest. In April, they’ll be releasing the PREMINT Collector Pass, a membership NFT that will give collectors access to explore all the public projects on the platform, see leaderboards of the top projects, and see what projects they qualify for given what NFTs they own.

🚨 With 400,000 users, the 10,000 passes will most likely sell out quickly, but The Drop has secured 500 passes for our readers! 🚨

Sign up to get one of the passes at this link: 

ON-CHAIN VS. OFF-CHAIN METADATA ⛓

When thinking of the fundamentals that comprise an NFT, the two main “ingredients” are the NFT’s smart contract and the attribute metadata associated with that specific token. Smart contracts are easily digestible, primarily in that they are present on the blockchain, and can be efficiently analyzed. With that said, metadata is a completely different story.

When talking about metadata, there are two forms: on-chain and off-chain. To start, off-chain projects employ an InterPlanetary File System (IPFS), which is housed on a centralized server. That means, if the server were to go down for whatever reason, your metadata, or artwork, would also be lost. On-chain projects employ the actual blockchain to store your metadata, ensuring the asset’s security as long as the Ethereum network is alive and working.

Most current projects employ IPFS, due to the minimal maintenance costs associated with storing the images over time. Conversely, larger projects that employ amazing developers tend to gravitate towards the on-chain path. Just this past weekend, Cyberbrokers, a project by the legendary @josie, uploaded their metadata and SVG layers onto the Ethereum blockchain, costing them a total of 91.04 ETH ($230,911.12, at the time of writing). This goes to show their commitment to fostering a supportive community, and the diligence they apply to ensure the safety of their investors’ assets. If a project decides that they want to be on-chain, investors should generally have the mindset that the team is working diligently on their behalf to foster value that transcends just the art. On-chain metadata = WAGMI.

Meme Drop 💧

FTX US NFT Marketplace 🔥

The Drop is ecstatic that we are now a partner with FTX, one of the biggest crypto exchanges in the world. Even more epic is how incredibly fast the team at FTX was able to create the ultimate NFT marketplace.

On the FTX desktop, you can buy and sell NFTs with gas-free NFT trading and keep everything in one spot with all things crypto. Buy your crypto and get busy trading right away with no hassle. To have your crypto and NFT trading all under one seamless platform click here.

INCYMI: Yuga Labs Buys Out CryptoPunks & Meebits

Last Friday (3/11) one of the biggest NFT moves in the history of the space occurred. Yuga Labs, which is the company that founded the Bored Ape Yacht Club bought out the OG blue-chip CryptoPunks and Meebits from Larva Labs. Best Part? Full commercial rights for the CryptoPunk and Meebits holders (something that Larav Labs did not allow). 

A must read statement from Yuga Labs below:

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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