YoutubeVerse

What's Dropping, Solana Problems, NFT Buzz Video

January 26, 2022

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!

🚨 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 đź”Ą 

Additionally, FTX US is running an NFT giveaway until January 31st for users that sign up for FTX US (web or mobile)! Enter promo code NFTJAN22 and trade at least $50 worth of NFTs and you can win some insane prizes. 

What's Dropping ⚡

  • Clearly, there’s a ton going on with Azuki. The Art is incredible, sales are off the charts and a Manifesto was posted last night. Now, the floor is heading straight through to 7+ ETH threshold at the time of this writing (it was 4 ETH earlier in the day). The team has an impressive background to say the least, quite possibly the most interestingly telling is this one in terms of where this can go.

  • $LOOKS token is still holding strong at $3.92 and an APR of 617% (at the time of writing).

  • Invasion of the VC’s: BYOPills has already confirmed that they’re in the midst of a VC deal, and however the arrangement ultimately shakes out, their native in-game $TRYP token will be a part of what they receive. Fresh rumors have surfaced about BAYC holding discussions with VCs working on a raise at a $5B valuation hit Twitter yesterday. In addition, there were some unsubstantiated rumors that $APE token will be a part of the deal. Whether $APE token is involved or not, it’ll be interesting to see how this outside capital impacts the space overall. The writing was on the wall, we knew it was going to happen at some point. The good news is that it’s completely set to the terms of the project over the VC (within reason, of course) as opposed to the standard start-up model, which includes incessant questioning such as, “how does it scale?”, to the point your ears start bleeding.

  • ETH FLoors: Alien Frens (2.2), Cool Monkes (0.89), Azuki (7.69), Doodles (9.8), Cool Cats (14.85), DeadFellaz (3.45), Creepz Genesis (7.05).

  • Cold Blooded Creepz broke NFT Twitter again yesterday with the duel minting opportunity of the Shape Shifters along with The Vault. The gamification is tuned to master level at this point, and people are just killing it with the current price of $LOOMI. There are 7 possible Shape Shifters (Gary V, Snoop, Banks, Elon, Trump, Mark Cuban & Paris Hilton). Each Shape Shifter has 5 different cards and all 5 are needed to merge them (burned) into a Mega. Mega’s get a share in the $LOOMI tax (think Wolf in Wolf.Game but even more rare). With a 20k supply, there’s a ceiling of only 400 possible Mega’s in circulation. The Vault gives holders daily dynamic dividends of $LOOMI based on the price. Floors on all things Creepz are pure unadulterated lava.

  • Don't forget: Cool Cats' Pets are minting on January 28th.

Solana Issues Persist đź‘€

Solana is one of the fastest-growing blockchains in the cryptocurrency ecosystem. Consisting of a gas-free, low-fee blockchain, it serves as a major competitor against the Ethereum Blockchain. And if you’ve ever traded an NFT using Solana, you definitely understand the reason why competition is emerging. However, this past weekend, Solana had yet another system outage that lasted more than an entire day. In conjunction with the major sell-off happening across the entire crypto market, Solana dipped from a weekly high of $143 to a low of $80. These events are increasing speculation regarding Solana’s capacity to handle such a large transaction volume.

It might be reassuring to remember that all digital markets have suffered outage issues at some point in their history. Even Ethereum had some major issues early on. To put it into perspective, Solana has only been around for about 2 1/2 years and has approximately 1/6th the number of developers as Ethereum. Additionally, Solana has 1,436 validators to certify transactions, meanwhile, Ethereum surpassed 200,000 validators last year alone. One downside of this is that Ethereum can only support about 15 transactions per second, meanwhile, Solana can support tens of thousands of transactions per second. Nonetheless, the crypto markets this past week have experienced wild fluctuations, and Solana certainly fell victim to market conditions. Although concerning, the developers are working diligently to get everything updated and restored in order to maintain the security of the blockchain.

Youtube'verse?

We have written about many companies trying to work towards the goal of NFT integration. But in our opinion, none of them have been as big as this one. The MacDaddy of late-night Call of Duty streams. The birthplace of gold digger pranks. The evil villain that makes us procrastinate for our exams. YOUTUBE.

The Verge

In a creator economy section of an open letter talking about the company’s priorities for the year, CEO Susan Wojcicki stated that they have seen how the innovation in the crypto/NFT space has “highlighted a previously unimaginable opportunity to grow the connection between creators and their fans.” They see a vision that would “help creators capitalize on emerging technologies.” With more than 2 billion active users, Youtube would become a powerhouse contributor to the adoption of NFTs. In addition, they would also be creating a new monetization tool for their creators. It’s a mutually beneficial addition to an ever-growing world of content consumption.

With NFT integration, creators will be able to produce decentralized organizations, also referred to as DAOs. They will be able to sell artwork to their fans, as well as passes to IRL events. That’s just the tip of the iceberg. They’ll be able to grasp the true potential of Web3.

Youtube, we welcome you aboard the train on our community-led expedition. Which company steps up to take the next empty seat at the table? WAGMI.

Meme Drop đź’§

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. 

NFT Buzz 🎥

Check out @yarramishog's recent breakdown of Birdez Gang, Kitty Crypto Gang, and Beans NFT by DUMB WAYS TO DIE

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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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