Friday is finally here and so is the Fungible Friday newsletter. Here’s what we’ll be covering today:
- y00ts finally reveals
- Instagram has become an NFT marketplace
- Zeneca reveals how Blur’s second airdrop will work
- Quick hits: Some other stories you should probably know about
y00ts finally reveals
t00b holders can now mint a y00t NFT
The wait is over. One of the most highly anticipated reveals in recent times is finally here. The community’s reaction? Meh.
The project was delayed by the team to make sure they got the art spot on. Teaser trailers showed the team deleting hundreds of different artworks.
The lengthy delays and masterful tension-building meant expectations were high. It was always going to be difficult to meet those expectations.
The artwork is good. Good enough at least to prevent holders from wanting to sell.
You can check the art out yourself right now on Magic Eden.
Instagram is an NFT marketplace
Probably the single most bullish piece of news NFT fanatics could hope for. Instagram is now an NFT marketplace. That means Instagram will start letting people mint and trade NFTs in-app.
Imagine Messi wins the World Cup in Qatar. It completes his collection of every major trophy in world soccer, cementing his place as the world’s greatest soccer player (sorry Ronaldo).
He takes a photo of himself holding the trophy after the game and uploads it to Instagram. He mints that photo and sells the NFT on the Instagram marketplace. How many people do you think would be interested in buying that piece of history?
The potential is huge
Instagram has a billion monthly users. The potential is huge. Not just for mega-stars, but also for hundreds of thousands of content creators who can now monetize their audience in a meaningful way.
Meta has a mixed history with crypto, including a failed coin launch, which means success isn’t certain. This is an opportunity to onboard billions of people into Web3. We can only hope Meta doesn’t mess this up.
How the Blur airdrop will work
Blur is a recently launched NFT marketplace that airdropped ‘care packages’ for traders who have been actively trading NFTs over the last six months. That was Airdrop 1.
There is an Airdrop 2. The details of which have been murky… until now. Zeneca, Chief Zen Officer at Blur, has revealed how it will work.
Airdrop 2 will reward the people actively using Blur. The exact formula for how packages and tokens will be dispersed is a “closely guarded secret”. However, we have learned that the following will be taken into account:
- The more NFTs you list, the more you will earn. It will help to list NFTs from blue-chip and actively traded projects.
- There may be perks for people who sweep at least three times.
- Blur will reward those who are honoring creator royalties.
- People will be rewarded for loyalty. So if you list an NFT on other marketplaces (and not Blur), it will negatively affect your loyalty score.
- Formula 1 team, Haas, announces a partnership with OpenSea. That means there will eventually be a line of Haas NFTs. Interestingly, OpenSea’s logo will be featured on Haas racing cars.
- Yuga Labs’ metaverse NFT open standards are apparently coming “very soon”.
- SuperRare is launching a “RarePass Genesis” collection. The NFTs will give holders exclusive access to artwork drops and a private community.
- Solana, Asics and STEPN are collaborating on a new pair of physical sneakers and NFTs.