NiftyNoon: Yuga Labs Sparks Controversy

Controversy Arises over Yuga Labs NFT Auction, but Market for Bitcoin NFTs Predicted to Reach $4.5B by 2025 (March 8, 2023)

Nifty Thought

• Yuga Labs' TwelveFold NFT collection auction generated $16.49 million worth of Bitcoin from 288 successful bidders. All 300 NFTs were released, and winning bidders will receive their inscriptions sometime this week. However, controversy arose regarding the bidding process, with the creator of Bitcoin Ordinals, Casey Rodarmor, criticizing the process as being unsafe. He warned that he would cut ties with Yuga Labs and encouraged others to do the same if similar practices continued. Despite this, Galaxy research predicts the market for Bitcoin NFTs to reach $4.5 billion by 2025. Yuga Labs' success can be attributed to the popularity of its previous NFTs on Ethereum, its large role in the NFT market, and the limited-edition nature of its TwelveFold collection, with only 300 assets released.

Project News

• Yuga Labs announce the Yuga affiliate badge is now live and on all official brand handles to validate legitimacy of account pages:

Yuga Labs @yugalabs

The Yuga Labs affiliate badge is now live on all official brand handles and should be used to validate that the account you are interacting with is a legitimate Yuga Labs page. Be vigilant and use news.yuga.com to cross reference any links you see on official accounts.

• 9GAG files US trademark application for PFP in connection with downloadable software creation, distribution of digital tokens as the “proof of fandom”, marketing services and more:

  NeerMcD.eth 🚀 @NeerMcD

  .@9GAG files U.S. trademark application for PFP in connection with downloadable software for creation & distribution of digital tokens as the "proof of fandom"; online retail services featuring virtual goods, NFTs, & more; marketing services; issuance of tokens of value; & more

  

• Azuki announces The Museum of Dope Art in Hilumia is now open:

  Azuki @Azuki

  The Museum of Dope Art in Hilumia is now open. Artists and commissioners who get featured on Azuki’s official Instagram will receive the MODA Exhibitor community badge. 🧑‍🎨

  

• Typical Friends presents a limited designer edition from Markus Magnusson coming soon:

  Typical Friends 🌎 @_typicalfriends

  🤮

• TwelveFold auction concludes earning a staggering, considering market conditions, total of 735 BTC in 24 hours:

  tropoFarmer 🍌 @tropoFarmer

  the TwelveFold auction just concluded, earning a total of 735 BTC / $16,500,000 in 24 hours, with the highest bidder paying $161k. biggest bear market drop by a mile, and it wasn't even on Ethereum 😂 I'd say the Yuga ordinals experiment was a massive financial success.

  

• Keeks shares news that she has been invited to be part of the upcoming official Bobu Commitee:

  Bobu the Bean Farmer @BobuBeanFarmer

  Bobu began as a decentralized IP experiment exactly one year ago. Happy birthday to myself (and the rest of me out there)! 🎂 We’ve gone to outer space and back. Now it’s time to step into the next phase of the experiment starting with an official Bobu Committee. 🧵

  

  Keeks 🦊⛩️🐱 @its_kiki_hehe

  He didnt accept my marriage proposal (who is this girl, Sake? 🤔), but he did invite me to be part of the Bobu committee! 👨‍🌾✨ Im beyond excited & wanted to share what this means to me & how you can participate in the experiment to help determine his next move 🕺🧵 🎨 @Cat_Brah

  

Community News

• Community share thoughts on TwelveFold drop, as people aped $16,500,000 having only seen one complete piece of artwork:

  tropoFarmer 🍌 @tropoFarmer

  the most shocking part of the TwelveFold drop is that people aped $16,500,000 having only seen ONE complete piece of the artwork. contrast that with Art Blocks, which lets you see an infinite number of output examples. does this mean that the art really is irrelevant?

  

• Calls for unbiased art critics and advisors on the buy side to ensure integrity in the art NFT space:

  GOKU_NFT✖️ @goku_nft

  So you’re telling me one of the top artists right now is just using Unsplash images that he lightly manipulates? This space desperately needs unbiased art critics and advisors on the buy side. Integrity is the only way we can progress.

  

  

• Zagabond calls founders of Pudgy Penguins and DeGods inspiring:

  ZAGABOND.ETH @ZAGABOND

  Founders who not only understand community, but are actively shaping the future of it, are inspiring. @LucaNetz @frankdegods

Quick Stats:

• OpenSea Daily Volume: 6,912 ETH (▲ 4.74%)

• Blur Daily Volume: 23,412 ETH (▲ 8.72%)

• BTC: $22,136.45 (▼ 0.86%)

• ETH: $1,558.71 (▼ 0.07%)

• Solana: $19.20 (▼ 5.68%)

• Polygon: $1.09 (▼ 3.76%)

NFT Daily Winners:

• 🐧 Pudgy Penguins: 5.68 ETH (▲ 1.37%)

• 🦉 Moonbirds: 6.06 ETH (▲ 1.0%)

• ⛩️ Azuki: 14.60 ETH (▲ 0.91%)

• 🥃 Proof Collective: 15.70 ETH (▲ 0.77%)

• 🧬 Clone X 4.55 ETH (▲ 0.44%)

• 🌈 Doodles: 5.10 ETH (▲ 0.39%)

• 🚬 CryptoPunks: 67.00 ETH (► 0.00%)

• 🧝🏼‍♀️ DigiDaigaku: 8.93 ETH (► 0.00%)

NFT Daily Losers:

• 🦧 Bored Ape Yacht Club: 71.65 ETH (▼ 0.49%)

• 🧟 Mutant Ape Yacht Club: 15.35 ETH (▼ 0.68%)

• 🐈‍⬛ VeeFriends: 4.50 ETH (▼ 1.92%)

• 🏳️‍🌈 Chromie Squiggles: 12.00 ETH (▼ 8.05%)

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