Passive Thursday: What happened in NFTs this week?

CoinMarketCap and Nansen are looking at some of the most exciting developments in the NFT space – from Solana’s largest NFT marketplace, raising $ 27M from Magic Eden, to the launch of Warner Bros.’s DC Comics NFTs.

Investors continue to place great bets on non-flammable token (NFT) startups. While Solana’s largest NFT marketplace, Magic Eden, has raised $ 27 million in a Series A funding round, a $ 30 million cryptocurrency fund has been created to exclusively invest in NFTs. Meanwhile, the owners of Crypto Punks will now be able to enjoy full IP rights after the board app yacht club took over the yoga labs.

NFTs can come on Instagram, Mark Zuckerberg revealed.

In January, the Financial Times reported that Meta and Instagram would soon enable collaboration for NFTs. The rumours appear to be true as the CEO of Instagram’s parent company Meta confirmed on Tuesday that digital collectables will appear on the photo and video sharing app.
Mark Zuckerberg made the revelation at the SXSW conference, although he did not give any specific details about when the feature will be activated on Instagram.

“We’re working on bringing NFTs to Instagram in the near future,” Zuckerberg reportedly said during his appearance at the conference. He hopes consumers will be able to customize their digital avatar outfits as NFTs.

Melakinesi’s studio launches new NFT animated series, The Gimmicks

THREAD: The Gimmicks is a community-driven animated NFT series on the Solana blockchain. 10k NFT holders get to decide the story arc of the show through on-chain voting in a "Choose Your Own Adventure" style poll at the end of each episode, with new episodes releasing every week.

— The Gimmicks (@therealgimmicks) March 15, 2022

Sixth Wall, the digital arm of actress Mila Kunis’s Orchard Farm Productions, has teamed up with Web3 Animation Studio Toon star to launch the Solana-based NFT animated series.
Named “The Gimmicks”, the animated series is about a group of retired professional wrestlers who are trying to reclaim their glory days in the ring. Interestingly, the new series introduces a “choose your own adventure” mode, which will allow NFT holders to vote on storylines, plots and characters in each episode.

Speaking to reporters, Tone Star CEO John Atanasio described the series as “similar to South Park WWE, but more interactive and freer.” In particular, World Wrestling Entertainment (WWE) stars Rocky Romero, Carl “Machine Gun,” and Luke “Doc” Gallows voiced some of the characters.

According to Attanasio, the idea for the show came after WWE fired pro wrestlers Luke and Carl during the heat of the COVID-19 outbreak. He explained:

“They reached out about collaborating on some animated shorts for social media so that they could get their stories out and keep their creative juices flowing, and preserve their sanity.”

That’s when Toon star began working on the concept of the NFT animated series. The script for the show is being written by Dave Ahlenfield and David Wright, who previously worked on the popular animated hit films Family Guy and The Simpsons.

As far as NFTs are concerned, they are free to mint and will be live on the show’s website on March 18. Each wallet is allowed up to 3 NFTs per minute.

“Each Gimmicks NFT will be a distinct character with unique characteristics and personalities. Gimmicks will come with commercial rights so you can create your own narrative and have it included in The Gimmicks Wiki and perhaps even in the show!”

Commenting on the upcoming series, Kunis said:

“I see the tech and community that comes with NFTs and Web3 allowing for the audience to directly communicate with and inform creators of what they like and what they don't,” Kunis told CoinDesk in a statement […] The Gimmicks allows us to experiment with what it looks like to create in and around a community, taking the tech seriously but keeping the content fun.”

Solana NFT Marketplace Magic Eden raised 27M.

Excited to share our $27M raise led by @paradigm, with support from @ElectricCapital@sequoia@KindredVentures@GreylockVC@variantfund@SolanaVentures to become the #1 place for NFT creators and collectors 🧵— Zhuoxun Yin (@ZhuoxunYin) March 14, 2022

On Monday, Magic Eden announced a $27 million Series A round led by Paradigm. Other participants in the round include Sequoia, Solana Ventures, Electric Capital, Greylock Partners, Kindred Capital and Variant Fund.

The new capital will be used to expand Magic Eden’s workforce, secure future partnerships, as well as a channel towards product development. Co-founder and CEO Jack Lu said:

“Magic Eden will be much more than a place for users to purchase NFTs. Our goal is to make a clear distinction between Web2 and Web3, allowing creators, collectors, and supporters to engage with each other and lead the direction of their online interactions.”

Magic Eden is currently Solana’s largest NFT marketplace, with a total trading volume of over $ 736 million since its launch last year.
Meanwhile, the NFT platform may soon have to compete directly with OpenSea. Back in January, CoinMarketCap reported that OpenSea would soon begin supporting Solana NFTs.

Ukraine will use NFTs to tell the story of the Russian invasion.

From the NFT of the Ukrainian flag to multi-million donations ranging from NFT collections to عط 6.75 million, Ukraine has been a major beneficiary of the crypto industry.
After receiving more than $ 100 million in corrupt donations since the start of the Russian invasion, the country is trying to use NFTs to raise more funds, as well as tell the story of the Russian invasion.

According to Alex Borniakov, Minister of Digital Transformation, the upcoming NFTs will feature a depiction of the Russia-Ukraine war, with each token presenting a sample of art representing the story of a trusted source.

Proceeds from the sale will be used to fund media activities and purchase military equipment. The Minister said:

“We don’t use this fund to buy weapons at this point. We’re buying night vision goggles, optics, helmets, bulletproof vests.”

Warner Bros. launches DC Comics trading cards with payable NFTs.

Take your @DCComics fandom to the next level and unlock the Multiverse. Your gateway to a new era awaits!

— Hro (@hro) March 10, 2022

Warner Bros. is Ready to issue 6 million DC Comics-inspired trading cards packaged with refundable NFTs.

Priced at 5 to $ 120, this is the world’s first “hybrid” collection of DC cards. Buyers will need to download a mobile app called Hero to redeem the NFT components of their physical cards or to trade other NFTs from aggregates. According to Pam Lifford, President, WarnerMedia Global Brands and Experiences, “Commercial cards have been a favourite of fans for decades. Brings the brand to fans in a way that has never been done before.

"This platform will give fans a brand new way to engage with their favorite characters from DC Multiverse and even enhance their ability to interact with other collectors."

Each physical trading card will have a unique QR code that can be used to access the digital “twins” on the Hero app.

The collection, which will be available later this month, is being designed by card and board game company Cartamundy. There will be 155 different superheroes, including a few limited edition cards based on DC Comics’ latest movie “The Batman”.

Mark Anderson supports $30M Crypto Fund, which invests exclusively in NFTs

Two years ago, anyone who invested in the digital aggregation would probably be called insane. However, much has changed in the NFT scene since Beeple sold its first 5,000 Days collection in March 2021 for 69 million.
Now, institutional investors are trying to delve deeper into the NFT craze. With the support of some of the biggest names in the crypto and web3 space, a new investment fund has been launched to invest exclusively in NFTs.

The 16 30 million funds, called Curated, is backed by a16z investment team (Mark Anderson, Chris Dixon, Andrew Chen, Ariana Simpson and John Lai), as well as Electric Capital’s Evachel Gregg and Curtis Spencer, Reddit and Seven Seven Six Ventures. Is. Founder Alexis Ohanian, a host of Justin Kahn and other investors in space. It was co-founded by Todd Goldberg and Andrew Jiang.
The so-called “blue-chip” plans to invest about 50% of the curated funds in NFTs such as board apps, cryptocurrencies and art blocks. The other half of the funds will go to “high potential collections” of small market creators.

About half of the fund is planned to be invested in so-called “blue-chip NFTs”, which include popular projects such as cryptocurrencies, art blocks and board apps, as well as works by well-known artists selling single NFT works. The other half of the fund goes to what Jiang and Goldberg consider to be “high potential collections” from artists in smaller existing markets.

Speaking to reporters, Goldberg said:

“We want to become a very high-signal collector that acquires the top assets and is also helpful to creators and builders […] The market has been frothy, however, we’re kind of entering a bear market, which is actually great for the fund as we are very patient capital. We’ll wait for the best opportunities to enter these positions and then we’ll just hold these things long-term.”

Yoga Labs buys cryptocurrency IPs from Larva Labs.

Some big news to share today: Yuga has acquired the CryptoPunks and Meebits collections from @LarvaLabs, and the first thing we’re doing is giving full commercial rights to the NFT holders. Just like we did for BAYC and MAYC owners.— Yuga Labs (@yugalabs) March 11, 2022

Yuga Labs, the company behind the famous Bored Ape Yacht Club (BAYC), has bought the intellectual property rights of CryptoPunks and Meebits from Larva Labs. Could this be a breath of fresh air that CryptoPunks needs to flourish?

While BAYC NFTs have been running impressively since the beginning of the year, the year of the cryptocurrencies has been relatively quiet. On the one hand, the creators of CryptoPunks have been very quiet about IP rights, and this has caused a great deal of dissatisfaction in their community. As a result, a well-known collector was forced to sell his cryptocurrency in January for about ً 10 million. The nickname collector Punk4156 said:

“Over that time, it became clear to me that there was probably no chance that I would ever own the rights to the thing that I was building,” he said. “It's just kind of an illogical position to continue building your brand around something over which you don't have the strongest claim.”

Things seem to be changing for the corrupt punk holders as Yoga Labs is ready to give owners a full commercial license. The company said in a statement:

"With this acquisition, Yuga Labs will own the CryptoPunks and Meebit brands and logos, and as they’ve done with their own BAYC collection, Yuga Labs will transfer IP, commercial, and exclusive licensing rights to individual NFT holders."

For some reason, Yuga Labs has given BAYC NFT holders a full license to use their avatars for any commercial activity they choose. It has spawned several keyboard app branded businesses, such as the Universal Music Group and the Arizona Iced Tea Advertising Campaign, inspired by the guerrillas “Metaverse Band.”

However, Yoga Labs emphasizes that its primary focus is still on monkeys, at least for now. The company tweeted:

"To be clear: the BAYC ecosystem will remain the centre of our universe. We believe that what's good for Punks is good for Apes and the rest of the space. Likewise, what's good for Apes is good for Punks. We want to grow the pie, not fight over slices."

Meanwhile, the trading volume of cryptocurrencies has increased by more than 1,000% since the announcement. Nansen’s data show that the secondary market sales of the Ethereum NFT combination reached 4,026 ETH (7 10.7M) in volume on the day of the announcement, an increase of 1,053% over the previous day. Volume remained high the next day, with 3,520 ETH ($ 9.3M) volume ending the holiday.


Meets saw a similar increase in interest after the announcement, which increased by more than 1,200% on the same day. The total volume of the collection reached 4,876 ETH (12.9M), surpassing CryptoPunks. The collection is known to be a wash trade on LooksRare. However, Nansen has a wash trading filter on its NFT analytics dashboards, which allows users to eliminate noise and get a more accurate view of the actual trading volume of the collection.


Nansen’s NFT-500 index down 21% last month

Nansen’s NFT-500 Index is a broad index that tracks the market activity of ETH-based aggregates. The index consists of the top 500 aggregates in terms of market capitalization and represents an average of 85% of the daily trading volume as of January 1, 2022. Consider the index equal to the NFT of the S&P 500 index. The index is currently sitting at 1,795 index points, which reached 2,192 on 18 February 2022 and reached a low of 1,676 on 10 March 2022. Index points represent that an investment of $ 1,000 on January 1, 2022, will be today’s value.

Although most collections are still below their all-time highs, many have bounced well over the last 7 days. If you want to do your own research, check out Nansen’s NFT Index!

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