NFT Community RALLIES Against All Odds
A week of bullish markets targets BTC $100K, Yuga Acquires KRose's PROOF, Magic EDEN or Tensor, NFT Paris, MEME of the week and sell shaming. The web3 world just got closer.
This week we saw BTC reach the $50k mark. With the influx of BTC ETF into the ecosystem at $500MIL/day some are saying we could reach 100K by the end of Q1.
'' we are probably at the beginning of a massive massive move higher in bitcoin and in crypto overall '' - OSF Rekt Guy
If you are not familiar with the ETF Ruling. Check out this article explaining what the ETF Ruling does for Crypto. ETF Ruling Spikes BTC
The amount of cashflow coming into crypto gives stability for the market. With more stability comes more ETF flowing in. With that more regulation will happen. With more regulation the space becomes safer and more predictable. We will see more inflow than outflow as the digital world and the need for transparency with money systems continue to flourish.
Yuga purchasing PROOF is another consolidation move for NFT IP. PROOF is a 2022 project launched by Kevin Rose, serial entrepreneur. PROOF owned many Digital Assets like Moonbirds, Oddities, The acquisition of PROOF’s assets, including its team, intellectual property, and artistic portfolio, aligns with Yuga’s vision to become the front door of web3. Yuga will start by bringing Moonbirds into Otherside, the place where content creators, communities, and brands will come together to participate in the social fabric of web3.
“As a company committed to championing art, culture, and community on the blockchain, we’re excited to have PROOF join the Yuga ecosystem,” said Daniel Alegre, CEO of Yuga Labs. “Moonbirds is a collection with great potential and many unifying brand elements with Otherside. We look forward to PROOF Collective becoming an important part of our ongoing art and community engagement efforts.”
The PROOF and YUGA communities seemed fine with the move. Most had the same sentiment about Kevin Rose and are happy to see him leave the space. We watched as Bored Ape Yacht club, the flagship project of Yuga labs next to Meebits and Punks, held a members only discord chat to answer any questions. Here is an example from one of the “head apes” CaptainTrippy.eth. These was the voice echoed all over.
My otherside, pun indeded, of the coin is how long do we expect founders to stick around? Is this move something we should expect? Is it okay for these serial entrepreneurs to come in, sell a product, build a community, and exit? Should we expect more or are we going to continue to support these types of moves? My guess is we see more happen and more people buy in.
With SOLANA on the rise, we had to dive into the new marketplaces. We landed at Magic Eden and Tensor. They are both SOL based marketplaces that include BTC NFT as well. There are plans for these to also include ETH NFT Brands as well in the coming weeks. Both are great tools and offer rewards systems to keep you coming back for me! Here is a quick video on both from Ron Jordan web3 Sensei.
NFT Paris kicks off this week. Where Finance, Gaming, Art, Fashion, Sports, and Media converge to celebrate the era of digital assets. NFT Paris hosted 18,000 visitors for its 2nd annual event, and is returning for its 3rd edition to this iconic venue on the 23-24 of February 2024. They expect 100+ exhibitors, immersive installations, a large hackathon with top-tier developers. NFT Paris brings together builders, investors, brands & artists to shape the future of the industry.
In my experience it is all the activations happening OUTSIDE of the core event. The “satellite” meetups like the ones happening at RHAUS with Rug Radio. Be sure to map out your plan. These are my tips if you plan to attend:
Find the SPEAKERS you want to listen to. Plan the days to maximize your time.
Take a notepad or your notes on your phone.
Take pictures with people you meet and exchange contact info with. Send them the picture and follow up.
Drink Water and Eat properly. This is a long couple of days.
Have fun and be safe.
Sell shaming is an odd reaction to someone taking some gains and cashing out. When someone takes an airdrop, cashes out, buys a lambo the community gets all bent out of shape because that takes “liquidity” out of the project. I’m not sure where people find it necessary to load themselves into someone else’s lives.
While I understand the reaction, but when we act like this it causes a reaction in others that may not be healthy. I know I wish I woudl have taken some gains when we were at 4K ETH and 20ETH floor on some of my NFTs. That would have been awesome, but I was told “just wait for 10 years, you’ll be sorry if you sell today” or something along those lines.
We cannot have that in our blockchain culture. Allow people to do as they wish. That means someone else is winning too because they SOLD IT. Enjoy the journey!
Meme of the week award comes from Baby Jesus Coin. An “altcoin” that was saved by the Carls.