Arts DAO Newsletter #59

Author

Arts DAO
November 07, 2023

Arts DAO is the leading Internet Culture and Digital Collectibles community in the Middle East, bringing artists, collectors and builders together to build the future of web3 together.

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BRIEF NEWS UPDATE

  • As mentioned last week, a year-end stock rally may be in the making. There is already a small "baby rally", despite the presence of numerous negative macroeconomic news. 

  • The big news of the week was SBF's guilty verdict. 

  • Additionally, Elon Musk introduced the topic of AI by presenting "Grok," a chatbot. This is another reason to keep an eye on AI tokens, as mentioned last week.

And thus, a perfect segue into crypto topics….

  • Altcoins have broken out as anticipated, with Solana leading the way. ETH also appears to be gaining ground against BTC.

Alpha: While Memecoins and AI tokens are still the Alphal, gaming tokens are becoming increasingly intriguing. Axie Infinity is introducing Japanese Web2 games to Ronin, and Wale has tweeted about gaming tokens from NFT projects (as seen in the tweet of the week). Gaming tokens are definitely worth keeping a close watch on.

  • We've experienced four consecutive weeks of increasing NFT trading volume, which hasn't been seen in quite some time. There's a noticeable recovery in the floor prices of NFT collections. Over the last 30 days, many collections have shown positive gains, ranging from +10% to as much as +60%. Notable winners in this trend include Potatoz, Milady, CrypToadz (more on that in the Project of the Week), Moonbirds, Doodles, Mocaverse, Cool Cats, GCG, and mfers.

  • Ay Caramba! :D Even from The Simpsons, we receive fresh attention in the mass media. In a recent episode of The Simpsons, specifically the Halloween special Treehouse of Horror 34, NFTs and blockchain technology were featured. The episode, titled "Wild Barts Can’t Be Token," humorously referenced the overvaluation of on-chain NFTs.

  • At Ape Fest, many NFT enthusiasts had a blast. The atmosphere was great, and the X timeline was well-stocked. During this time, Yuga Labs and BAYC had some exciting news to share. BAYC introduced an exclusive ApeFest Hong Kong Merch Drop and collaborated with BMW to create a one-of-a-kind digital experience with the BMW i5. Additionally, it was announced that the next Yuga game will prioritize mobile accessibility and cross-platform play, featuring HV-MTL, Apes, Mutants, and Dogs, with over 2 years of development.

Highlights:

  • Saudi Arabia to invest $50 million in Metaverse Firm Animoca. Read more.

  • Mocaverse introduces Realm Points (RP) to gauge user activity and influence. Read more.

  • Animoca Brands acquires Web3 Streaming Platform Azarus and forms a partnership with NEOM. Read more.

Alpha alert: Plenty of news this week revolves around Animoca and Mocaverse. Animoca continues to make weekly headlines and is heavily investing in Web3. Considering that Mocaverse is their NFT project, it's worth keeping an eye on it for a potential NFT bull run. In the last 30 days, the floor price has already risen by over 100%, currently standing at 1.53 ETH. Mocaverse was even discussed in our Discord before its launch on March 5th. Tune in to stay up to date with the latest developments.

  • Claynosaurz launches Plushies to disrupt collectibles. Read more.

  • Steve Aoki dropping digital sneakers in Move-to-Earn Game 'Stepn'. Read more.

  • Backpack, team behind Mad Lads NFTs, launches regulated cryptocurrency exchange in Dubai. Read more.

  • WAX Blockchain partners with Amazon Prime Gaming for "Brawlers" content. Read more.

  • MetaMask introduces self-custody web3 wallet with security alerts. Read more.

  • Rarible introduces RaribleX for Web2 brands. Read more.

  • Solana Labs introduces GameShift for web3 game developers. Read more.

  • Kanpai Pandas releases Kanpai Media for sports, culture, fashion, and blockchain. Read more.

  • XCOPYART creates 250 identical "RΞMNANTS" art pieces exclusively for SuperRare's Genesis Pass holders. Read more.

  • PROOF announced its Fall/Winter curated exhibition series, including 5 artists (Helena Sarin, Herbert W Franke, Craig Mullins, Summer Wagner, and Other World) and kicking off with Sarin's "GANimals: Rite of the Handmade". Read more.

  • Transient Labs partners with Foundation. Read more.

  • OpenSea CEO announces immediate restructuring and staff cuts by 50%. Read more.

PROJECT OF THE WEEK

CrypToadz

  • The CrypToadz have seen a significant increase in value this week, with the floor price now at 1.40 ETH, following some major buyouts.

  • What could be the reason for this? Primarily, it appears to be the result of the positive sentiment that has been circulating within the SocialFI communities. Toadz PFP’s are prominently featured on FriendTech.

Alpha Alert: This is all the more reason to keep an eye on SocialFI platforms. Perhaps other SocialFI projects, like New Bitcoin City, are also worth considering. On New Bitcoin City, for example, "The Alien Boy" project from the summer of 2021 is very active. Recently, Vombatus, one of the largest whales on FriendTech and NBC, sweeped the Floor of TAB. It could very well be a growing trend to acquire NFT projects that are actively involved in SocialFI apps.

TWEET OF THE WEEK

A tweet by Wale mentioning gaming token

PROJECT VOLUME

Captainz & Potatoz

  • Hype surrounded the $MEME airdrop by the Memeland team, and it made a remarkable debut with a 22x increase from its initial price of $0.001 to $0.028. $MEME currently boasts a Fully Diluted Valuation (FDV) of $1.55 billion and a market cap of around $200 million. There are 8,797 billion tokens in circulation, injecting $193 million of liquidity into the market.

  • This week, the Captainz ranked second with a volume of 5,640 ETH, just behind BAYC. Even Potatoz managed to secure the fifth spot with a volume of 1,910 ETH.

EVENTS BY ARTS DAO

🎉 IRL Event: This Thursday

Arts DAO is thrilled to announce our collaboration with TAP and invite you to join their inaugural event: "Before the Gates."

📍 Where: The Cypher Capital Hub in Dubai

📆 When: November 9th, 4:00 PM - 7:00 PM

Sign up here: https://lu.ma/tapdubai

After the event, we continue with drinks at Pure Sky Lounge. Everyone welcome.

📍 Where: Pure Sky Lounge at Hilton Dubai The Walk

📆 When: November 9th, starting at 7:00 PM

You can become a member of the Arts Dao, by purchasing our NFT token, which grants you access to not only our exclusive community events, daily market analysis but also makes you a fractional owner of the NFT’s owned by the DAO Treasury.

These are some of the DAO holdings to date:

Including Proof Collective, Damien Hirst, Bored Ape Kennel Club, Admit one and more

OS Link: https://opensea.io/collection/ethernal-gates
Discord Link: discord.gg/artsdao