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For the Love of the Game

(Market Commentary)

The NFT community has once again innovated and thrown a curveball to collectors and NFT enthusiasts in recent weeks. 

Lots of chatter about Bitcoin NFTs have taken the space by storm and has the largest blockchain by market capitalization and its community simultaneously “up-in-arms” with anger, and reeling from excitement about a potential killer use case for the “boomer” blockchain. 

I wrote a thread here which breaks down the emerging technology and explains: 

⚡What are Ordinals, inscriptions, and digital artifacts

⚡How they compare to Ethereum NFTs

We will eventually be tracking more Ordinal volumes, but if you want to see what’s currently going on for yourself, there are several collections on CryptoSlam that show what decisions are being made by buyers interested in this new market category.

One such example is Emblem Vault. Take a look at the last 7 days chart from our front page. There’s been over $3 million dollars traded. 

Source

Emblem Vault wraps Bitcoin NFTs and bridges them to Ethereum where they can be traded on Ethereum based marketplaces. 

Bitcoin NFTs, which were actually first on the scene going back to 2014-2016 on the Namecoin, and Counterpary networks, or reimagined as an Ordinal can be wrapped and traded in this Ethereum collection. 

Drill down here to find out if the NFT was a wrapped Counterparty asset, or a wrapped Ordinal, as you can sort of tell what they are by the NFT name. 

This is not 100% fool proof and people can wrap something that is not the actual asset being represented in the name, so verification steps are necessary, and I suspect each buyer is researching the wrapped asset before buying. 

Source

Other Ordinal collections can be found on our Rankings by searching “Ordinals” in the search bar or tracking Ordinal collections that have started on ETH and looking to bridge to Bitcoin, like Unordinals (Inscribed already) or Mayordinal (Not yet inscribed). 

By the way, “Inscribed” in the BTC term for “Minted”.

(Disclosure: I own Unordinals and Mayordinals, and this is not financial advice.)

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To find even more Ordinal collections, use our faster search next to our logo, it’s smooth like butter! 

Some of these collections are looking to ride the wave so make sure to do your own research on our site, as well as on social media, as these projects could be a scam. 

Source

Recently I’ve noticed bitcoiners and the web3 cultural leaders on ETH/SOL interacting with each other on Twitter spaces, and social media, which is truly a sight to behold for a long time crypto enthusiast like myself who has seen tribalism in many forms since 2017.

When “network effects” connect the ERC-721 community and the  Bitcoin NFT community it’s very exciting to say the least.

What I’ve been seeing initially are people getting into conflicts, and finding common ground based on the “best implementation and use” of NFTs.  Most see there’s a greater good at stake here, which is “digital property rights” and secure “censorship-free” technology.

I was on a Twitter space this past week and observed what the market sentiment is from different unique perspectives. 

What I can say is: Most agree NFTs are the future, but how and what powers the infrastructure is an ongoing debate with conflicting agendas and priorities. 

As of this writing, 100k+ NFTs have been written (inscribed) to Bitcoin, and this number was around 50k only a week ago. Inscriptions look to be going exponential and it’s something I suggest keeping eyes on, as new tools and websites are springing up as of this writing. 

When you add the recent Valentines Day $Blur airdrop to the mix, the NFTs space feels alive again for the first time in about a year when NFT volumes hit a high (see chart below). 
 

Source

My sense is the NFT world could once again provide tailwinds to the larger crypto economy with these new developments. 

Adding AI to the mix, this period of time feels “electric” like 1997-2004 when the internet was forming and people were experimenting with new products and businesses. 

Thanks for reading On Deck, we will be looking to put these letters out twice a week on Friday and Tuesday, so please forward to those in your network who you think would appreciate this content. 

Cheers! 

— Yohann Calpu

News Headlines

⚡️The marketplace wars have begun. NFT marketplace Blur returns fire on OpenSea by requiring creators to block sales on OpenSea in order to earn royalties on Blur.

⚡️Bitcoin’s version of NFTs has stirred a fiery debate between crypto purists and blockchain anarchists. What they’re not arguing is how impactful the new Ordinal “NFTs” may be.

⚡️Gary Vaynerchuk’s VeeFriends are the gift that keeps on giving, now via an explosive new reward system called Burn Island.

⚡️Yuga Labs is keeping the NFT scene at the edge of their seat, teasing a new experience in The Otherside Metaverse called Legends Of The Mara.

⚡️The NFL and Reddit deliver fans over 600,000 NFTs in their new powerhouse collectibles on Polygon.

⚡️Rihanna’s royalty-offering NFTs break OpenSea terms, and are removed from the marketplace.

⚡️Merging iconic photography and video with cutting edge tech, NBA All-Star Baron Davis is set to revolutionize digital ownership and royalties in SLiC Images.
 

⚡️Square Enix reveals their big NFTs plans, with evolving art and D&D style gaming, all on the red hot Polygon blockchain. 

⚡️2 big games were on display at Super Blowl LVII, the Chiefs vs Eagles, and DigiDaigaku’s NFT-backed videogame. 

⚡️The US may be looking to regulate stablecoins, but what if NFT investors’ stablecoin of choice is not based in USD?

⚡️If you haven’t been told this lately, you’re one hot degen! This new poll finds 83% of surveyed are attracted to those into crypto.

⚡️You may not know who is behind the mask while watching FOX’s The Masked Singer, but thanks to the blockchain, you’ll know exactly what you’re getting in their new Loyalty Pass NFT collection.

⚡️Polygon and Tezos NFT marketplace OneOf adds world class talent to its board, with Warner Music Group’s former CEO Stepher Cooper joining the young Web3 sports and music platform.

⚡️GQ Magazine offers a handshake between digital and physical in their first NFT collection that’s packed with art and IRL benefits.

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Upcoming Drops

VeVe x Lamborghini - Lamborghini Huracán STO

Date - Feb 19

Blockchain - Immutable X

Price - TBA

A surprise turbo-charged NFT drop arrives on VeVe this week as Lamborghini unveils a stunning stable of luxury car NFTs.

Already known for their premium Augmented-Reality enabled NFTs, VeVe’s platform is perhaps the perfect way for Lamborghini to showcase their iconic craftwork. Through interactive NFTs, collectors can explore both the exterior and interior of iconic cars, including the Bianco Asopo, Grigio Titans, Rosso Epona, and Verde Citrea. For the car enthusiast who needs to complete the set, VeVe’s on-site marketplace will give you the perfect opportunity to fill your garage with head-turning Lamborgini NFTs that have the space buzzing.

Violetta Zironi - Another Life

Date - Feb 17

Blockchain - Ethereum

Price - .09 ETH

Snoop Dogg & Billy Ray Cyrus - A Hard Working Man

Date - Feb 21

Blockchain - Ethereum

Price - $299 USD - 10 ETH

The Beatles - Vintage Slides
Date - Feb 21

Blockchain - Tezos
Price - Starting at $199 USD