Get smarter on DeFi and Web3
Get the 5-minute newsletter keeping 70K+ crypto innovators in the loop.
It was bound to happen eventually.
After buying the rights to CryptoPunks and Meebits from Larva Labs in March and bringing on Noah Davis from Christies to manage the Punks brand, Yuga Labs is making moves to monetize its purchase.
On July 28, Yuga Labs said that it would immediately start collecting a 5% royalty on all secondary sales of Meebits.
Following the move, CryptoPunks is now the only major NFT collection that doesn’t charge royalties on secondary sales, though perhaps not for long.
Web3 identity startup Unstoppable Domains has raised $65M in Series A funding. The round was led by Pantera Capital and values the company at $1B.
Similar to ENS domains, Unstoppable allows users to purchase NFT-based domain names for their blockchain wallets.
According to the website, more than 2.4M domains have been registered through the platform.
On July 21, RTFKT, the Nike-backed NFT studio behind the popular CloneX collection, released a collection of 8,888 NFTs that could be redeemed for physical apparel.
Holders could “forge” their hoodies from July 21 to 25, and the physical garments will contain NFC chips to link them to their companion NFTs.
On July 28, RTFKT teased the next forging event for CloneX holders.
The biggest digital – physical drop in Web3 is coming with CloneX DNA forging ⚒️
We have created 10 next-gen collections that CloneX holders will be able to acquire. 🔟
Tough choices await Clone X holders. 🤔 pic.twitter.com/ldSGGemMre
9gag, once the Internet’s go-to for memes, is planning a foray into Web3 with Memeland, its own metaverse complete with a $MEME token.
The Potatoz is a collection of 9,999 “utility-enabled” NFTs that was released as a free mint on July 21. The NFTs are expected to serve as access passes to future Memeland drops and have generated over 6,400 ETH ($10.8M) in secondary sales on OpenSea, taking the top spot this week.
Not too shabby for a free mint.
The company behind the popular hardware wallet launched its NFT marketplace and curation platform, Ledger Market, on July 26. 10,000 Genesis Passes were sold at 0.3 ETH ($500) apiece and the collection minted out in less than a day.
Passes “will allow owners to redeem a limited edition Ledger Black-on-Black Nano X and have access to future drops.”
The cheapest pass is currently listed for 0.45 ETH ($750) and the collection has seen 2,700 ETH ($4.6M) in secondary sales in the two days since it launched.
Sales volume ticked up to $208M in the week ending July 25.
Though volume in dollar terms was $12M higher than in the prior week, Ether’s 40% rally during the week makes the numbers look better than they really are.
Indeed, the number of transactions dropped 23% to 353,771.
The floor prices of most collections were down this week as Ether surged.
Get smarter on DeFi and Web3
Get the 5-minute free newsletter keeping 70K+ crypto innovators in the loop.
No spam. Unsubscribe anytime