NFTX Weekly Round-up #22

Welcome to the weekly update of all things NFTX, along with a sprinkling of NFT news as well.

NFTX Weekly Round-up #22

Welcome to the weekly update of all things NFTX, along with a sprinkling of NFT news as well.

Vault Action

Another consistent week with the number of unique wallets connected slightly down on last week but mint and redeem events are up. The MASK vault has seen some significant activity today (Monday) likely due to the announcement of the $MSK DAO token with someone cycling through the minting and redeeming process to claim tokens against different wallets. There was also a large redeem of the $CARDS vault which could be linked to the upcoming Punk draw.

  • 1,787 unique wallets connected
  • 217 mint events
  • 146 redeem events

Here are the movements on our existing vault holdings over the past 7 days:

  • Punk Basic -5 (-6.10%)
  • Punk Female -1 (3.03%)
  • Axie-Origin -1 (-2.38%) *note, this vault is now redeem only
  • Kitty-0 +31 (7.97%)
  • Kitty-0-Fast -5 (-2.65%)
  • Avastar Basic -16 (-5.63%)
  • Avastar Rank 30 -5 (-2.54%)
  • Avastar Rank 60 -4 (-12.50%)
  • Glyph +1 (11.11%)
  • Mask -15 (-3.26%)
  • Waifus -14 (-7.91%)
  • Alpaca +7 (18.42%)
  • CARDS -16 (-55.17%)
  • PunkBodies +142 (355%)
  • Solos -12 (-57.14%)
  • Ghost -6 (-50%)
  • BAYC -2 (-15.38%)
  • ZENFT -22 (-33.85)
  • Gutter Cats +8 (new vault)

Product Development

The time has arrived and V2 will be deployed to mainnet with a soft launch this week. We have a couple of announcement posts that will be released on the blog and in Discord to explain the new features and expected rollout timeframes. The key takeaway is that if you’re a token holder or liquidity provider there is no rush to do anything.

As a reminder, here are some of the changes that you’re going to see coming up...

  • Targeted Redeems — choose the exact NFT you want to pull out of the vault against a small premium
  • Create Vault — along with options to define the fee structure
  • Staking — add liquidity and stake your LP tokens to earn rewards
  • Vaults — view the vaults that you own and details on their ongoing performance

Keep an eye on our Twitter account and Discord announcements channel for release details.

NFT News

Sotheby’s Natively Digital Auction

The first NFT auction from Sotheby’s concluded last week with the primary piece, Sillytuna’s CryptoPunk #7523, selling for $11.8M!

Some of the other highlights for the auction include

While there has been some comments on CryptoTwitter about the irony of decentralised NFTs being sold through a centralised auction house, this can only go to help spread NFTs to a wider audience.

It was great to see Sotheby’s really embrace the NFT world as part of this event with the creation of a digital version of the iconic location on Decentraland. The virtual world contained all of the natively digital pieces in their own viewing gallery. Check it out for yourself.

A huge congratulations to these and all the other artists that featured in the auction.

Sotheby’s back-to-back CryptoPunk auction

After the success of their first Natively Digital auction, Sotheby’s are going to be at it again with another set of five punks going under the hammer.

For the first time, it won’t be just the digital version that will be provided as part of the auction. These five punks were part of a larger twenty-four lithograph physical versions created by John Watkinson and Matt Hall. Each punk will be accompanied by a sealed envelope containing the private key to access the CryptoPunk.

The auction will take place 24 June–1 July 2021. You can read more about the auction on the Sotheby’s site.

FVCKRENDER subject to a hacker

A not so subtle reminder this week that when you deal in a decentralised world you are responsible for everything, especially the security of the assets that you own.

One of the leading NFT artists, FVCKRENDER, was hacked last week while trying to work with someone who contacted them through Twitter. Unknown to FVCKRENDER, the *.src file that was sent over by the would-be-commissioner was then used to access the seed phrase for the non-hardware wallet and resulted in the loss of a lot of the wallet’s contents.

If you’re not sure if you’ve got a secure setup, follow along with these instructions and get yourself secure.

Crypto and Digital Art Fair (CADAF) Online

CADAF Online will showcase fine crypto and digital artworks from over 100 exhibitors this June 17-23 via an interactive and highly social virtual platform.

This virtual art fair will focus on NFT and blockchain art and provides the opportunity for galleries and independent artists to showcase and sell works in custom virtual booths as well as communicate with collectors and visitors via chat rooms.

The fair is designed to make online art shopping interactive, immersive and fun.

Visitors access individual booths via the 3D floor plan and utilize smart networking tools to engage with artists and one another. A livestream of diverse cultural programming including over 40 artist talks, panel discussions, and screenings will be streamed during the fair.

Register to get access to the fair beginning June 17th.

Numbers check

The 7d price for NFTX is down by 8.6%, sitting at $56.83 mark as of Monday morning.

That's all for this week. If you have any questions, come and join in on the Discord channel.