Welcome to the weekly update of all things NFTX, along with a sprinkling of NFT news as well.
New Community NFTX Vaults launched
This week another community vault has been created, adding another Art Blocks project to our growing list.
Apparitions is a project by Aaron Penne which explores the space between algorithmic and organic. There were only 1,500 minted and we have a nice initial collection of thirteen to get started. If you have any then you can add to the vault.
89 Seconds Atomised contains atoms of Snark.art's 2018 inaugural project with artist Eve Sussman '89 seconds Atomized' that shattered the final artist's proof of Sussman's acclaimed video ’89 seconds at Alcazar’ (in collections of MoMA, Whitney and Leeum museums) into 2,304 unique tokenized video fragments (or "atoms") of the original artwork.
This week the highlight of the Governance call was the discussion of Hyype and the latest proposal to provide a grant for its initial development. While you can read more on the initial forum proposal, here is a brief overview.
Hyype is a social discovery platform aimed at people who collect arts and collectibles in the form of NFTs. Built for individuals that want to be recognised and seen by their peers in the community. People that want to discover new work they may want to collect and want to see new trends (items which other collectors might have started collecting).
Hyype is currently in its inception phase and its team consists of very early backers of NFTX. They have reached out to become a NFTX ecosystem DAO through receiving a builder grant, meaning that they will allocate 60% of their DAO governance tokens to NFTX holders post token generation event.
The grant was successfully passed on Snapshot, and the next steps will be to pay the grant to the Hyype team to begin the MVP.
More on the next steps next week!
We were excited to release the first new UI of the NFTX App this week, with The Minter going live on Wednesday.
In the first few days we’ve seen more than 600 new users on the platform and more than 50 minting actions for more than 100 new NFTs into the vaults.
The TL;DR is:
- Automatically view the NFTs you have available to mint based on the current set of NFTX vaults.
- Easily select multiple NFTs to mint with each asset shown visually.
- Request the inclusion of your NFTs to a vault by sending a “mint request”.
- Calculate the total value of the NFTs you are minting.
With minting out of the way, the product team is turning their attention to the redeem and vault creation process next.
If you’re interested in user testing for future product updates, please contact @javery on Discord or email [email protected].
Chubbies in hot water
The NFT world went crazy for Chubbies over a short period of time which saw the husband and wife team become crypto millionaires. It turns out that their artwork was strongly based upon another artists work, and neither permission to use or credit was provided until the original artist was discovered around 10 days ago.
Fortunately, the Chubbies team are in talks with the original artist to find a fair settlement.
While NFTs are continuing to grow in popularity we are going to see a lot of new projects come and go that are simply riding the hype and attempting a money grab. Always make sure you do your research on new projects before you ape in, and only buy what you can afford.
Daily GWEI looks at NFTX
The daily You Tube channel covers the recent updates to the NFTX Minter. It is always good to get an outsiders view of your project (even if they hold NFTX themselves).
First Beeple, now Christies are turning their eyes towards the ultimate OG of NFTs, the CryptoPunks.
Christies will be auctioning nine CryptoPunks as part of their continuing journey into NFTs. As a result of the announcement we have seen a surge in the Punk-Basic token price from $30k to $41k USD.
The Punk-Basic tracks the floor price of CryptoPunks and we could see this pattern continue if the auction turns out anything like “The First 5,000 Days” from Beeple.
The 7d price for NFTX is down by 18.3% and is at the $156.25 mark at the end of the weekend.
That's all for this week. If you have any questions, come and join in on the discord channel.