October 25, 2022


Happy Meta Monday folks!
If you spent the weekend seeing friends and touching grass, you might have missed what was happening in Web3.
If that’s the case, you’re in luck. We’ve got you. Here’s what we’ll be covering today:
  • Azuki’s ‘Proof of Skate’ auction raises $2.5 million
  • Reddit NFTs: Literally the only thing people are talking about
  • Someone swept 119 Rug Radio NFTs for more than 45 ETH
  • Alpha alert: Three things to keep an eye out for this week!

Azuki sells 8 skateboards for $2.5 million

Azuku Skateboards - Rich MFers MEME Thumbnail
You read that right. Azuki auctioned off eight skateboards for a total of $2.5 million.
To be fair, they are plated in solid 24K gold.
Oh, and they are each embedded with a cryptographic chip that connects the physical skateboard to a digital token (a Physical Backed Token, or PBT).
The eight skateboards sold for 309 ETH, 303 ETH, 240 ETH, 231 ETH, 208 ETH, 207 ETH, 202 ETH, and 200 ETH. Dingaling, a well-known Azuki whale, took home the biggest degen collector prize, with the largest bid of 309 ETH.
There are three key takeaways from this story:
    1. Azuki holders (the whales in particular) are rich af.


    1. Azuki is creating a bit of a name for itself by being one of the stand-out projects experimenting with new and interesting technologies. The Physical Backed Token technology is truly innovative and enables many exciting NFT use cases.

  1. Azuki has a very strong community of core supporters. The project founders and management team (whatever your opinion of them) know exactly what their community loves and how to press their buttons.

Reddit NFTs: Did you miss generational wealth again?

Reddit NFT Meme Thumbnail

Although Reddit users have a reputation for being NFT haters, the tide has turned.

Reddit launched an avatar-style NFT collection and three million users have made wallets to scoop up the NFTs (that’s already more than OpenSea).

The key to deceiving millions of Redditors? Don’t call them NFTs, call them ‘digital collectibles’. Don’t call the thing they are stored in wallets, call them ‘Vaults’.

It’s almost as if making the experience easier for new users by eliminating unnecessary complexity actually works. Weird.

Why is everyone so excited about Reddit NFTs?
Chances are, you missed generational wealth again. But there’s a silver lining.
The success of the Reddit experiment confirms the case for NFTs. Communities that spend lots of time on a platform will spend money on collectible items that give them perks and status on that platform. Read that last sentence again.
If you can convince Redditors to change their minds about NFTs, then maybe you can convince just about anyone.
Just don’t call them NFTs. 


119 Rug Radio NFTs swept

119 Radio NFTs Swept Meme Thumbnail

It’s that time of year again.

Pumpkin spice is in the air and leaves are on the ground. While most of us get our rusty sweeps out of the garage, one eager NFT collector has dusted off his industrial, four-wheel drive turbo sweeper.

A new wallet, known as EMBRACECHAOS was loaded with 50 ETH and spent 45 of them on 119 Rug Radio NFTs (the project founded by Farokh).

The catalyst for the sweep is unclear. However, it does come at a time when people are becoming increasingly aware of how important media and entertainment are in the NFT space.

Farokh and Rug Radio have one of the most popular NFT Spaces on Twitter. It is informative, entertaining and regularly boasts some of the biggest guests in Web3.

The people and projects that have attention can control narratives. They can also sell that attention to sponsors, and use the proceeds to fund more benefits and perks for NFT holders. People seem to be catching on.

ALPHA ALERT: Keep your eyes peeled!

Alpha Alert Thumbnail

New RTFKT drop

RTFKT is collaborating with RIMOWA to drop 2,222 WorkerBots NFTs for 0.08 ETH and 888 luxury suitcases for 2.3 ETH each.

The mint will take place on Oct 27 and is open to everyone (not just RTFKT holders).

To have a chance of minting, you need to enter the “live draw system” and have a sufficient amount of ETH to mint in your wallet. RTFKT holders
are more likely to win the draw. 

Ledger Market Pass airdrop

Everyone holding a Ledger Market Pass will be airdropped an NFT from the electronic music producer and artist Agoria. The snapshot will take place on Oct 26.

CryptoPunk necklaces

Remember when everyone was talking about the 248 CryptoPunk pendants from Tiffany and Co. that minted for 30 ETH each? Well, holders have been told to “check your inbox” on October 26 for a “first look” at their new necklaces.

The preview will show the front and back of the item, and also reveals which gems are included in the pendant.
CryptoPunk necklace flexes incoming.

We’re bullish on every reader who brightens up a degen’s day by forwarding this newsletter 😎

It would mean the world to us!


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