Welcome to the weekly update of all things NFTX, along with a sprinkling of NFT news as well.
Release of new interface for redeeming NFTs from NFTX Vaults
Another busy week for the Consumer Product Squad and NFTX with The Redeemer going live last week, complementing the previously launched new interface for minting NFTs into vaults.
This has been the second release in a series of four that we have been working on the past weeks, with the Create/Manage Vault functionality and the new NFTX homepage next on the agenda.
If you’re interested in user testing for future product updates, please contact @javery on Discord or email email@example.com.
NFTX V2 Contract going into Code Arena
The governance vote was passed last week on snapshot to secure the DAO with a slot on Code Arenas, who will run a contest to get our v2 contracts security reviewed. The full collaboration with Code Arena will bring us:
- Multiple solidity experts will review the protocol to find vulnerabilities before deployment
- Engineers that participate in the contest will become familiar with our protocol, and that may make them comfortable integrating NFTX in other projects they contribute to
- Some marketing from Code Arena as they publicize the contest.
The review is set to take place in Early May.
Find the full proposal here: XIP#8
NFTX Status Page
We work in an industry that is pieced together through a series of different decentralized micro-services and is entirely built upon the internet. As a result, there are going to be times when some services are not available, or when there are areas of the code base that need fixing or upgrading.
As a DAO we believe in openness and transparency so we have set up a status page that you can always use to check the current status of the NFTX platform. While we will still keep the Discord channel updated, any outages will be tracked through this page and available for historical viewing.
NFTX Vault Updates
This week there have been a number of updates to the holdings on the NFTX vaults. Now that the UI has become more visual we’ve seen a growing increase in the number of both Mints and Redeems across the platform.
Some of the big movers over the past 7 days have been:
- Waifus supply up by 73
- Masks supply up by 44
- Punks supply down by 13
- POW supply up by 25
- Ghosts supply up by 18
- Oxmons supply up by 3 (plus healthy liquidity added by Owen to the Sushi pair)
Last weeks’ governance call was mostly focused on the new consumer product releases, being the mint & redeem functionality on app.nftx.org.
Watch back the entire governance call of April 14th above. The next governance call will occur on April 21st at 16:00 UTC.
Paris Hilton Collection
The sale looks to be very successful with the Iconic Crypto Queen selling for more than $1.1m, and both the “Hummingbird in my Metaverse” and “Legendary Love” selling out for $220k.
Paris has a huge social media presence and there is no doubt that interest in NFTs will continue to grow as Paris and other celebrities enter the market.
Stay Free — Edward Snowden
“Stay Free” is the first NFT created by Edward Snowden — the famous whistleblower who uncovered the NSA’s mass surveillance that violated the law.
This portrait of Snowden is done using the landmark court decision document itself, and is signed by Snowden. The auction occured on Foundation and fetched 2,224 ETH ($4.95m) by PleasrDAO, with all of the proceeds going towards the Freedom Press Association.
The 7d price for NFTX is down by 13.7% and is at the $135.70 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.