NiftyNoon: Institutional Support

For September 26, 2022

Nifty Analysis

• While Opensea volume continues to dip to new lows and crypto slides downwards, interest from large institutions in web3 remains high. Apple’s announcement has the potential to introduce a billion users to the concept of digital collectibles. Furthermore, Disney’s focus on the space can compel the next generation to desire digital toys the way we dreamed of physical toys when we were younger.

• Bored Ape Yacht Club and Mutant Ape Yacht Club continue to hold their pumps as people accumulate these assets in advance of $ape staking announcements. While most projects fumble once staking and tokenomics are introduced, Yuga has historically succeeded where other projects have failed. It will be interesting to see this play out.

• After dipping below a 40 ETH floor price, Proof Collective has bounced back to 47 ETH. Part of this rebound could be fueled by teases Kevin Rose and the Proof team have dropped on Twitter regarding an upcoming $PROOF token. Andreessen Horowitz, a major investor in Coinbase and Proof is speculated to be playing a role in getting the $PROOF token listed on Coinbase at launch. Although these tokens are generally highly risky, Kevin Rose has emphasized his desire to launch a token with a thoughtful game plan from the start.

Project News

• Apple announces official NFT policies mandating 30% cut on all in-app sales:

  Gabriel Leydon (FREE,OWN) @gabrielleydon

  Apple has decided to let developers sell NFTs inside of games/apps. Everyone is focusing on apple wanting its 30% cut of each transaction without realizing this could put an ETH wallet in every single mobile game onboarding 1B+ players!

  

  theinformation.comHow Apple’s App Store Policies Squeeze NFT StartupsNon-fungible tokens, like much of the crypto world, are in regulators’ and lawmakers’ crosshairs. But NFT startups have been just as preoccupied with another rulemaker: Apple. With NFT volumes tanking along with the broader crypto market, marketplace startups could use a boost from using mobile ...

• Disney CEO confirms interest in aggressively pursuing metaverse and web3 plans:

  Non-Refungible Network @Non_Refungible

  🚨 NEWS: @Disney hiring lawyer to help with ‘aggressive NFT & DeFi’ plans

  

• Azuki rumored to have raised $30M venture fundraising round:

Blockworks @Blockworks_

The Azuki NFT community is buzzing with anticipation amid a supposed VC raise of $30 million @Ornella_Hdz reports

blockworks.coAzuki Among Latest NFT Projects To Gain VC Funding: ReportTwitter rumor had it that the Azuki NFT project raised a funding round that brought its creator, Chiru Labs, to a valuation of $1.4 billion.

• Multibeasts announces IP marketplace that enables community licensing opportunities:

Multibeasts by the Haas Brothers @TheHaasBrothers

Join the Remaster CEO on a in-depth dive into our IP marketplace! 📊 Heres how our legal infrastructure will allow us to build a sustainable, scalable business model for our community! 📈 Enjoy this snippet. Head over to discord: discord.gg/theinside for the full video! 🚀

Community News

• Controversial NFT public figure JFX hacked on OpenSea:

jf❌ @jfx

I got hacked last night on @opensea. Apes, doodles, eth. It’s not pretty. Please do not buy any of these items or anything else from my wallets. Thanks

ZachXBT @zachxbt

@jfx @opensea Karma for all of the people you rekt with the scams promoted on your Instagram page. Definitely won’t be tracking this one.

• ERC-20R/721R standards proposed for reversible transactions on ETH:

kaili.eth @kaili_jenner

Billions in crypto stolen. If we can't stop the thefts, can we reduce the harmful effects? Over recent months, a couple other @Stanford researchers and I drew out and prototyped ERC-20R/721R to support reversible transactions on #Ethereum. See post & 🧵: mirror.xyz/kaili.eth/gB-r…

mirror.xyzReversible Transactions for thefts on EthereumTo help reduce losses due to thefts in the ecosystem, we propose ERC-20R and ERC-721R standards to support reversals when there is sufficient evidence to merit.

• @Kawpuccino loses 10 ETH of NFTs due to a fake Dota2 NFT on the front page of OpenSea:

Kawpuccino.eth moved to kawffee.eth @kawpuccino

Tonight I lost over 10eth of NFTs. Here’s a summary of what happened just in case it happens to you on @opensea: 1. Saw a trending collection for Dota2 and bought it secondary off floor, didn’t notice it wasn’t authentic but didn’t worry about it since it was on the front page

Quick Stats:

• Opensea USD Daily Volume: $9.7M (▲ 0.73%)

• Opensea ETH Daily Volume: 7443 ETH (▲ 1.05%)

• BTC: $19,178.88 (▲ 1.28%)

• ETH: $1323.23 (▲ 1.40%)

• Solana: $33.07 (▼ 0.96%)

NFT Daily Winners:

• Bored Ape Yacht Club: 79.00 (▲ 0.39%)

• CryptoPunks: 63.95 (▲ 0.08%)

• Mutant Ape Yacht Club: 15.99 (▲ 4.85%)

• Moonbirds: 10.70 (▲ 2%)

• Chromie Squiggles: 11.44 (▲ 14.4%)

• VeeFriends: 5.15 (▲ 0.19%)

• Proof Collective: 46.90 (▲ 11.67%)

• DigiDaigaku 12.00 (▲ 0.08%)

NFT Daily Losers:

• Azuki: 9.00 (▼ 5.16%)

• Doodles: 7.38 (▼ 1.49%)

• Clone X 6.27 (▼ 0.18%)

Notes:

• Thank you for reading through the first NiftyNoon newsletter! All feedback is welcome through comments and on Twitter. If you enjoyed, please feel free to subscribe and follow us on Twitter for daily updates just like this one!

• The creation of this newsletter was inspired by other great NFT newsletters from people and organizations such as Bitfloorghost, Mint Media and JoshBobrowsky

• Sources for statistics include:

  • https://nftpricefloor.com/

  • https://coinmarketcap.com/coins/

  • https://dune.com/rchen8/opensea

• Image source: Generated with AI through Midjourney