The NFT Bull Market Has Arrived 🐂

Hashmasks boom, Pranksy makes The Million Dollar Punk Drop, & more!
Feb 5, 20213 min read

Dear Bankless Nation,

It was a dizzying week in the NFT ecosystem. It seems like a million exciting things just happened, right!

Well strap in, I say. We can expect this pace for the foreseeable future as interest and  validation pours into all the projects building amazing stuff around NFTs right now and as the wider cryptoeconomy turns bullish once more.

So there will be lots to do, and see, and read about in the days and weeks ahead. But just remember to keep your head on a swivel. There’s a ton to be excited about, and you don’t have to jump in and process everything at once!

Just be both curious and cautious, do your research and help others where you can, and last but not least be sure to have some fun. This is our revolution, and we get to do things our way now …


🏆 Digital Collectibles

  • Prolific NFT collector Pranksy crowdfunded +$1M via Discord, bought up 150 CryptoPunks with the funds, and is now hosting The Million Dollar Punk Drop. The idea? Buy 1 ticket, get 1 random Punk from the draw!
  • Digital art collectibles project Hashmasks dominated the NFT ecosystem this week, netting +8k ETH in sales since launching just a few days ago.

  • Amid all the buzz and excitement around Hashmasks, be safe and watch out for the current spate of opportunistic counterfeits on do-it-yourself NFT marketplaces. For example, below is a fake on OpenSea: it was created via Mintable and isn’t from the verified, blue-check Hashmasks collection …

  • The recently launched, Pranksy-backed NFT monthly subscription service NFTBox has generated +275 ETH in secondary sales in short order. 

🎨 Cryptoart

  • Renowned “Everydays” artist Beeple has raked in over 170 ETH in secondary sales since first arriving in the cryptoart scene last year. A warm and well-deserved welcome!
  • Acclaimed generative artist Dmitri Cherniak released his “Ringers” drop through Art Blocks, with the series’s 1,000 pieces instantly meeting explosive demand.
  • Pranksy revealed that “Drop Dead” by acclaimed AI artist Mario Klingemann will be the second piece delivered to genesis NFTBox holders ...

🕹️ Blockchain Games

🌐 Virtual Worlds

  • The first season of the Metalympics, nft42’s fun spin on Olympic Games in the metaverse, has concluded. Season 2 is set to take place in Ethereum-based gaming world The Sandbox.
  • The Cryptovoxels team is taking a “mobile first” approach going forward!
  • There’s always something going on in the metaverse ...

🛒 NFT Marketplaces

💎 DeFi x NFTs

  • NFT index fund project NFTX launched a $MASK fund for Hashmasks.

Action Steps

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

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