Twitter Turns to NFTs

Twitter releases NFTs, Axie Infinity dominates, OpenSea breaks records, & more!
Jul 2, 20212 min read

Dear Bankless Nation,

At first, people thought we were crazy for using NFTs.

There will probably come a time, though, where people will think you’re crazy if you don’t use them.

We’re not there yet to be sure. But seeing Twitter dive into NFTs this week offers us a glimpse of that future in which these tokens are everywhere.

For now, keep building and have a great weekend!


🏆 Digital Collectibles

  • Twitter started auctioning off Twitter-themed collectibles via NFT marketplace Rarible this week 🐤
  • NFT platform Universe released Polymorphs, an NFT collectibles project whose characters can have their traits scrambled for ETH.
  • How are floor prices looking for top NFT collectibles? Zeneca_33 has you covered with another daily update!

🎨 Cryptoart

  • Chromie Squiggles, the first curated art drop on generative art dapp Art Blocks, has been experiencing unprecedented levels of volume lately!
  • Cryptoart marketplace SuperRare just released POAP badges for its artists and collectors. The badges will come with various perks.

🕹️ NFT Games

  • Per Token Terminal, Axie Infinity has generated nearly $13 million worth of protocol revenues over the past 30 days. That’s far above top DeFi projects Maker ($8.4M), Sushi ($6.3M), and Synthetix ($4.1M) in the same span!

    Image via Token Terminal.

🌐 Virtual Worlds

  • Cryptovoxels is holding Dutch-style auctions for parcels in the Vibes and Satoshi districts.

🛒 NFT News & Platforms

  • OpenSea had a record-breaking month in June 2021, in which the leading NFT marketplace facilitated over $150 million worth of sales!
  • Owen Shen, the creator of 0xmons, just published a wrapper of the Chainlink VRF solution. The new tool makes it easier to randomly distribute NFTs.
  • Owen also published a Twitter thread this week on zkNFT, an NFT marketplace that’s coming to the zkSync Ethereum scaling solution.
  • Want to make complex NFT swaps with a single signature? That’s now around the corner courtesy of EIP3074.

💎 DeFi x NFTs

  • NFTX soft launched its v2 system and shortly thereafter resolved a bug in the PUNK vault.
  • Speaking of NFTX v2, the way the project interacts with CryptoPunks is going to lead to more than a few 0 ETH Punk “sales” going forward. Not to fret, this is routine NFTX activities!
  • Yam Finance published a great write-up on uPUNKs, a derivative for longing or shorting the price of CryptoPunks.

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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