NiftyNoon: Will the Arbitrum Airdrop Save NFTs?

The highly anticipated Arbitrum airdrop may be the liquidity the NFT market desperately needs (March 23, 2023)

Nifty Thought

• The highly anticipated Arbitrum airdrop has finally arrived. This is likely to be the biggest crypto airdrop for quite a while. This has caused many NFT hopefuls to question whether any of this newfound crypto liquidity will come into NFTs. Unlike the $Blur airdrop, the $Arb airdrop is not being exclusively claimed by people involved in NFTs. In that case, the flow of $Blur liquidity into NFTs was very clear.

• Unfortunately, as even dedicated NFT traders leave the NFT ecosystem, it is likely that crypto-natives will decide to dedicate much (if any) of their newfound liquidity into NFTs. While some crypto native projects such as Pudgy Penguins, Azuki, and CryptoPunks may seem some increased activity from active NFT traders that receive the airdrop, it is unlikely to meaningfully impact floor prices across the board.

Project News

• Arbitrum airdrop goes live with some technical difficulties:

  Arbitrum (💙,🧡) @arbitrum

  Gm. The day has come Arbinauts.💙🧡

  TheDefiGirl (💙,🧡) @DaDefiGirl

  #Arbitrum Airdrop 🪂 expectation 🤑 vs reality 💀

  

  

• Coinbase Co-Founder and Chief Legal Officer disclose Coinbase received a Wells notice from the SEC:

  Brian Armstrong @brian_armstrong

  1/ Today Coinbase received a Wells notice from the SEC focused on staking and asset listings. A Wells notice typically precedes an enforcement action.

  paulgrewal.eth @iampaulgrewal

  Coinbase received a Wells notice from the SEC. After years of asking for reasonable crypto rules, we're disappointed that the SEC is considering courts over constructive dialogue. But if courts are required, so be it. We'll defend the rule of law. 1/15 coinbase.com/blog/we-asked-…

• Otherside reveals details for their second trip:

  Othersidemeta @OthersideMeta

  See you there. March 25th, 2023. 12:00 PM EDT / 4:00 PM UTC #Otherside2ndTrip For more info, visit our blog: news.yuga.com/otherside-2nd-…

• Magic Eden reveals their web3 gaming hub, Magic Eden Games:

  Magic Eden 🪄 @MagicEden

  Presenting: Magic Eden Games, the home for web3 games. This is a labor of love from our games team. After launching 70+ projects & investing in a dozen studios, we're honored to help games shine even more w/ our dedicated hub. Visit Magic Eden Games: bit.ly/3JEqYsG

• Moonbirds announce founders will attend PROOF Tokyo meetup on March 29th:

  Moonbirds (🦉, 🎨) @moonbirds

  Our founders @kevinrose and @JustinMezzell are coming to Tokyo! Join us on March 29 for a special night with the local @proof_xyz Collective, Moonbird, @oddities_xyz and @risingbirds_xyz communities! Make sure to ask about the afterparty 👀 RSVP: events.proof.xyz

  

• Doodles announce first Doodles Sesh on Twitter Spaces on Thursday 7 PM ET:

  doodles @doodles

  Doodles! Let’s all get together live. @jholguin is hosting the first Doodles Sesh on Twitter Spaces on Thursday at 7 pm ET. These will be a recurring opportunity for the community to connect directly with the Doodles team. https://t.co/65FsjGzAHf

Community News

• Community share thoughts on heavy reliance on Twitter for discovering artists:

  pablopunkasso.eth @PabloPunkasso

  While I agree with the overall sentiment of this thread, I don't fully agree with it in ways I see others doing in my timeline today. It's overly negative to me. The REAL issue is, can we solve the heavy reliance on Twitter for discovering artists? Some thoughts...

  

  Omz @omz_nft

  There's a saying in business that good people leave under bad management. We're starting to see this manifest in digital art. Two of my favorite people have left in the last few days. And yet, we continue with the gms and blind positivity, as if everything is just dandy here.

• Artwork by XCOPYART sold for 355.0 ETH ($619,418.20):

  SuperRare Bot 💎 @SuperRareBot

  💎 And how does that make you feel? 💎 ✨ Artwork by @XCOPYART 💰 Sold to finaloffer_nomoreeth for 355.0 ETH ($619,418.20) superrare.com/0x41a322b28d0f… $RARE #CryptoArt #NFT

  

Quick Stats:

• OpenSea ETH Daily Volume: 5,391 ETH (▼ 16.8%)

• Blur ETH Daily Volume: 15,460 ETH (▼ 9.47%)

• BTC: $27,395.90 (▼ 3.41%)

• ETH: $1,750.07 (▼ 2.91%)

• Solana: $21.51 (▼ 4.69%)

• Polygon: $1.11 (▼ 4.69%)

NFT Daily Winners:

• 🐧 Pudgy Penguins: 4.46 ETH (▲ 6.25%)

NFT Daily Losers:

• 🧝🏼‍♀️ DigiDaigaku 5.05 ETH (▼12.0%)

• 🥃 Proof Collective: 9.76 ETH (▼10.25%)

• 🧬 Clone 3.20 ETH (▼6.92%)

• 🧟 Mutant Ape Yacht Club: 11.99 ETH (▼4.84%)

• 🦉 Moonbirds: 3.67 ETH (▼3.39%)

• 🌈 Doodles: 3.51 ETH  (▼2.26%)

• 🚬 CryptoPunks: 61.50 ETH  (▼1.41%)

• 🏳️‍🌈 Chromie Squiggles: 9.99 ETH (▼ 1.09%)

• 🦧 Bored Ape Yacht Club: 57.20 ETH (▼0.61%)

• ⛩️ Azuki: 13.12 ETH (▼0.42%)

• 🐈‍⬛ VeeFriends: 3.08 ETH (▼0.32%)

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