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Rolling Stone X BAYC
What's Dropping, No More FOMO, OpenSea Volume, And More
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!
What's Dropping ⚡️
Bored Apes made the cover of Rolling Stone and dropped 2,500 physical special collector’s edition copies in the process that sold out instantly. The in-depth piece detailed the history of all things BAYC - beyond worth your time. (much more on this below)
Ethereum continues to make its run breaking its all-time high and reaching over $4,600 USD per ETH 🤯.
Yes, gas fees feel like they're killing everyone but even with gas as high as it's been and OpenSea still did $96m USD on November 1st alone. To put that in some perspective, OpenSea did $95m during the entire month of April. (see chart below)
Someone found a Pixel Vault contract vulnerability and was able to burn Punks Comics they didn't own. They're replacing the items with something even rarer than what was lost.
Deadfellaz dropped Roadmap 2.0 after blowing the space away with a bunch of insanely well-done collabs.
Riddle #3 came out of the @ImHarryFiles project that still has people scratching their heads in mysticism.
Bored Apes 🤝 Rolling Stone
Rolling Stone Magazine had an epic article written by Samantha Hissong about Bored Ape Yacht Club that should get everyone in the NFT space excited.
In the article we get to learn more about the founder Gordon Goner who was a college dropout turned millionaire several times over. He and his team of 4 total named the club after trying to describe what it was like when they "aped" into crypto back into 2017. The apes have found their way into the hands of famous celebrities, athletes, world-renowned auctions - and Goner makes sure we know this is just the beginning.
There are a ton of gems in this article.
Bonded by a shared love of Eighties hardcore and Nineties hip-hop, the creators of @BoredApeYC make more than NFTs— they built an immersive, fantastical world. See how Bored Ape Yacht Club took over the internet, and how the founders envision their future. trib.al/ZIC9Gjn
— Rolling Stone (@RollingStone)
5:17 PM • Nov 1, 2021
Bored Ape art isn’t as valuable as it is because it’s visually pleasing, even though it is. It’s valuable because it also serves as a digital identity — for which its owner receives commercial usage rights, meaning they can sell any sort of spinoff product based on the art. The tokens, meanwhile, act like ID cards that give the owners access to an online Soho House of sorts — just a nerdier, more buck-wild one.
- Hissong
One of my favorite quotes by the team in the article is how they talk about the lack of sleep they had - starting at 14-hour workdays pre-launch and then now pulling even 16 hours a day. I think we can all resonate with the long hours you have to put in to have success in this space as a founder or investor.
If it means anything I am typing this at 2:53 AM before my flight to NFT NYC.
OpenSea Volume
Remember that the smaller purple bar on the far right is only for one day of volume for November 1st!
No FOMO Fund 🚨
Finance creator, Zaid Admani, set up a "No FOMO Fund" this week. And after what happened this week with Shiba, MANA, and SAND, a "No FOMO Fund" doesn't sound like too bad of a plan. But what does this have to do with NFT's? Well MANA was one of those FOMO coins up nearly 250% in the past week.
MANA is the native currency, fueling the economy of Decentraland— a decentralized 3D virtual reality platform that uses the Ethereum blockchain. Decentraland is a metaverse. Land in this metaverse can be purchased and owned by anybody using MANA, which can also be used to purchase virtual goods and services used in Decentraland. Decentraland started back in 2015 and officially launched in February of 2020, but their native currency rocketed over 400% this past week after Facebook's name change announcement.
Source: @Decentraland
The recent hype around Meta (formerly Facebook) is supposedly what caused this small coin to rocket. Which is a little odd considering Decentraland is technically a competitor of whatever metaverse Meta builds. Nonetheless, if you haven't checked out Decentraland yet, it might be fun to try it out. The first thing you'll do is dress up a character in some basic clothes, and then head over to shop the Marketplace to buy something that is actually visually appealing. After that, there's a good chance you'll end up playing poker with a stranger in the Decentraland metaverse. And then, last but not least, you'll probably realize it's about time to start that "No FOMO Fund" before missing out once again on some ridiculous gains.
Decentraland's Twitter can be found here.
Undercover 💎
OPINION: @Adobe Photoshop adopting Web3 functionality to verify NFT creation authenticity is the most ‘under the radar’ bullish news I’ve heard this month.
— voltura.eth (@BAYC2745)
2:51 AM • Oct 27, 2021
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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