For the Love of the Game (Market Commentary) |
Think the S&P
500 of NFTs is needed to bring transparency and clarity to Web3? Formed by the merger of CryptoSlam and Forkast.News, Forkast Labs has unveiled its family of Forkast Indexes to provide real-time measurements of digital assets' performance.
The first series launched today includes Forkast 500 NFT, Forkast SOL NFT Composite, and Forkast ETH NFT Composite. The flagship index, the
Forkast 500 NFT index is powered by billions of on-chain data points and measures the performance of the global NFT market across all blockchains, with more to come soon.
The NFT scene on Bitcoin is booming. In the past 30 days collectors have traded over $10M USD worth of NFTs from just the Emblem
Vault collection (the clever technology that lets you trade Bitcoin NFTs on the Ethereum blockchain). So I guess we’re aping into Bitcoin now? Actually, it’s not a question, we are literally aping in as Yuga Labs (the creator of
Bored Ape Yacht Club) is releasing a new NFT collection on the Bitcoin blockchain. Some are already speculating on the future value of Yuga’s new NFTs. My thoughts at the very least are, they’re worth a few
words. Yuga’s new collection called TwelveFold was released on Sunday on https://twelvefold.io/ and consists of 300 individual works of 3D-rendered art, with some hand-drawn components. They look nice enough, but even if art heads find them lacking (raises hand), the tech and provenance more than makeup for it. Inscribed on the blockchain itself, the TwelveFold NFTs will be preserved forever on-chain and showcase one of
the prime use cases for Bitcoin as a blockchain for digital collectibles. For those into the technical part of blockchain and NFTs, have a look at the TwelveFold artist’s explanation of how they inscribed these specific collectibles. It’s honestly pretty rad. Some collectors are already finding TwelveFold ordinals (what we call NFTs on Bitcoin) significant and are willing to put their money where their mouth is. The highest winning bid ringing in at 7.1159 BTC (over 160k USD)
😲. Top 25 Winning Bids – Source In total, the TwelveFold auction brought in 735 BTC ($16.5M) from the sale of just 288 NFTs. Whether it’s wanting a stake in Bitcoin history with a low-numbered inscription, or simply having exposure to Yuga Labs, the
provenance is the real value here, and apparently, it’s worth a lot. I just can’t shake the feeling that TwelveFold is hiding some deeper secrets beyond that it shares DNA with CryptoPunks (who Yuga Labs owns), Bored Apes, and the upcoming Otherside Metaverse game. As new developments come, we’ll be sure
to keep you posted right here at On Deck.
Have a MEGA GM, Slam
Fam! AMC'S Mayfair Witches join the World of Web3 with Orange Comet The Witching Hour is here and AMC's Mayfair Witches will join the ranks of vampires and other creatures that dwell in the darkness to become part of Anne Rice's Immortal Universe. In their third partnership together, Orange Comet is releasing AMC's Mayfair Witches Pass TODAY, March 7 on OpenSea at 11am PT/2pm ET. To join the witching world, check out the collection HERE. The Mayfair Witches Pass unlocks the door to a new digital coven – the next phase of Orange Comet's Immortal Universe, where your avatar comes alive when entering an exciting virtual collect-to-earn metaverse like no other. The Mayfair Witches
Pass will also bring fans closer to the story and other special benefits that include a chance to receive signed scripts & other autographed items from the show, trips to the filming location, meet & greets with the cast, and access to the Witching Wine Hours with a community of enlightened, like-minded people who are eager to share ideas, learn, and support each other. Open your mind, welcome the gift, and don't be afraid to venture into the unexpected... Check out the collection HERE. Date – Mar 7 Blockchain – Ethereum Price – TBA Date – Mar 7 Blockchain – Polygon Price – TBA Date – Mar 8 Blockchain – Ethereum Price – .02 ETH Date – Mar 8 Blockchain – Ethereum Price – .1957 ETH Date – Mar 21 Blockchain – Ethereum Price – TBA |
Satoshis, more commonly referred to as sats, is a small currency on the Bitcoin blockchain. There are 100 million satoshis in 1 BTC, so you can loosely think of satoshis similar to how the penny is the smallest currency of the USD.
Bitcoin’s NFTs (ordinals) are “printed” on Satoshis, so they are integral to the Bitcoin digital collectible ecosystem. There’s plenty more to learn about Satoshis, so happy researching! Received this from a friend? Sign up for this twice-a-week CryptoSlam VIP newsletter. |
Watch our latest episode of CryptoSlam Clubhouse with guest Hamzah Khan, Head of DeFi at Polygon. Watch all of our previous episodes on Youtube. Don't have time to watch? Listen to all of our episodes, available now on: |
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