NiftyNoon: Azuki's Physical Backed Tokens

For October 18, 2022

Nifty Analysis

• Azuki's Physical Backed Token (PBT) has dominated this NFT news cycle. The concept of tokenizing physical objects is not new but Azuki’s approach with their NFC-enabled Bean chip is definitely novel in some respects. Furthermore, this demonstrates another example of Chiru Labs (the team behind Azuki) creating a new standard and open-sourcing it to the community (similar to what they did with the ERC721A standard). Notably, although this does not directly return value to Azuki holders, many Azuki holders rallied behind this news to celebrate this push in technology with the floor price pumping to well above 11 ETH. At this point, it is clear that Azuki has the tenacity to survive its past controversies with one of the best community of collectors in the NFT space.

Project News

• Azuki releases open source Physical Backed Token (PBT) standard enabling the sale of physical items tied to NFTs and announces first PBT auction of gold-plated skateboard in Hong Kong:

  Azuki @AzukiOfficial

  Introducing the Physical Backed Token (PBT): an open source token standard tying a physical item to a digital token on the Ethereum blockchain.

  Azuki @AzukiOfficial

  PROOF OF SKATE 🦋🛹 azuki.com/proof-of-skate The Golden Skateboard installation will run from Oct 19th - Oct 23rd at the @K11Musea Gold Ball in Hong Kong. It will be open to the public. The public auction begins at 6:00 PM PST on Friday, Oct 21st and lasts for 24 hours. 🧵

• Truth Labs reveals first edition of Truth Universe map detailing how its various NFTs fit into the broader Truth ecosystem:

  Truth Labs @truth

  The Truth AMA begins here at 2pm ET. Ask your questions below. Here is the first edition official map of the Truth Universe. Like any real universe, this is a living image, and will grow, expand, and clarify as time passes. It is the seed from which many stories will grow.

  

• Tokenproof announces collaboration with Collabland, streamlining the NFT verification process for Discord and Telegram groups:

  tokenproof.xyz @tokenproof

  We are excited to announce tokenproof’s integration with @Collab_Land_. This will be a great alternative mechanism for those users who have already verified their wallet with @tokenproof.

Community News

• Andrew Wang’s Devotion reveals their first splat project which allows users to splat any NFT with digital tomato soup:

  andrew @andr3w

  Introducing #001: SPLAT 🍅 by @devotionxyz Van Gogh wasn’t safe from the sauce, and now, neither are your JPEGs.

  

• NFT denoting ownership of a physical house sold for $175K:

  rustybill.eth @Rusty_Bill

  Awesome. This #NFT house sold for $175k over the weekend. 🏡 Holding the NFT gives you ownership of the actual house in South Carolina. The company that made it happen is @Roofstock and you can view the traits on @opensea. 👏🏻

  

  

Quick Stats:

• OpenSea USD Daily Volume: $11.39M (▲ 37.99%)

• OpenSea ETH Daily Volume: 8,579 ETH (▲ 34.11%)

• BTC: $19,558.60 (▼ 0.18%)

• ETH: $1,323.58 (▼ 0.60%)

• Solana: $30.60 (▼ 1.35%)

NFT Daily Winners:

• Azuki: 11.40 ETH (▲ 15.04%)

• Chromie Squiggles: 12.67 ETH (▲ 3.40%)

• CryptoPunks: 66.58 ETH (▲ 2.43%)

• Proof Collective: 40.00 ETH (▲ 1.27%)

• Clone X: 8.05 ETH (▲ 0.75%)

• VeeFriends: 5.50 ETH (► 0.00%)

NFT Daily Losers:

• Doodles: 7.30 ETH (▼ 2.14%)

• Moonbirds: 9.25 ETH (▼ 2.63%)

• Bored Ape Yacht Club: 73.99 ETH (▼ 2.64%)

• Mutant Ape Yacht Club: 13.40 ETH (▼ 4.90%)

• DigiDaigaku: 11.20 ETH (▼ 13.85%)

Notes:

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• Created by @AxuETH, @jpegprez, @SSPxLEO, and @SpeedyGonzale87