Another exciting week in NFTs this week with lots of new developments, both within NFTX and the wider industry.
- NFTX Galleries
- Governance Call
- NFTX Rebrand
- Front-end open sourced
- Price check
- NFT News
- How to mint a token into D1 fund
This week the NFTX Gallery squad has been hard at work putting together an MVP to list our D1 and D2 funds, improving the User Experience (UX) and bringing a more visual understanding of the pools to life.
Massive shout out to @quag, @j_b, @neuromancer, @bingbinglee and @fluxed on Discord for their tireless work, from around the world, to turn this around so quickly 👑
If you want to see what we’re up to next, you can find the project overview on Notion here.
The second governance call occurred this week and chaired again by Finesseboi and Chop. There was a lot covered in the hour call including D2 fund releases, updates to the front-end, how the Balancer pools are working and more.
If you want to keep track of when the calls will happen, we’ve created a shared Google Calendar that you can subscribe to so you never miss one. Each week the agenda and Jitsi call login details can be found on the invite and the #Governance Discord channel.
NFTX Rebrand started
The (p)re-brand project is officially kicking off this week with @ChopChop working together for a week straight with Ben Pieratt.
Chop presented the initial visual direction on the latest Governance call, which will be used purely for inspirational purposes of the designer.
Front-end open sourced
After bug fixing all the issues on NFTX.org preventing people to properly arbitrage one or several NFT index funds, the front-end has been made open source on Github by Alex!
While the NFTX Gallery squad is currently busting out an entire new interface for NFTX at godspeed, it still is very useful to contribute to the current interface so that others may re-use parts / fork it as the foundation to a new product utilizing the NFTX protocol.
Alex has posted on our forums. If you are a developer and/or designer and want to contribute to the DAO, we'd love to see you engage in the post here.
Last Monday when the weekly update was published, we saw the largest volume on NFTX since launch and an all-time high of $98.28. By Tuesday we hit $100 — another ATH — before settling back down between $85-$90 for the rest of the week. Friday hit another ATH of $117.05 hovering around there before settling back to around the $95 as of Sunday evening.
Turning a double Mystic Axie into $350,000 on NFTX
Two of our community members, Jihoz and Bobe, got together last week to chat about how an investment of one Mystic Axie during the community raise is now worth upwards of $350,000+!
This week we saw two new projects get launched, The Hashmasks and NFTBoxes.
Hashmasks is a new project which has produced 16,384 NFTs with 70 contributing artists and has gained some massive traction the last few days.
Each Hashmask will have traits in the same way CryptoPunks / Avastars / AXIES have traits, but the exciting part of this project is you can name your artwork. The name is unique and can not be used by another Hashmask, creating a huge rush to create the most famous names to increase the artwork's value.
The secondary markets are also buzzing. Sub #100 editions are currently selling well above 10 ETH, and Hashmasks is zooming in to be #1 in 7 day sales volume, only being topped by CryptoPunks at the time of writing.
We have had requests already to create a fund for the Hashmasks and are currently looking into ways to create one or several Hashmask index pools, for the Hashmask community to provide NFT liquidity on AMMs.
Created by Pranksy and Carlini8 these boxes will be released monthly and contain a set of curated NFTs.
Given Pranksy and Carlini8’s names and contacts we’re sure these boxes will pay for themselves as they sold out in 6 minutes on Saturday night.
Each box is 0.5ETH and they are limited to 500. Currently the secondary markets are fetching a floor price of 2.8ETH.
More records broken this week from NBA TopShots, and we are still getting requests as to when these might make an appearance as a fund.
A conversation around a bridge between Flow and Ethereum occurred this week, between the Flow & NFTX team. There's nothing certain just yet, but there does appear to be some movement on that getting built (don't hold your breath just yet).
How to mint an NFT index token?
The first in our video tutorials has been completed providing a complete walk-through of how to mint an NFT index token using Punk Basic as the example.
We have other tutorials being created this week, which takes you through the entire process of participating in a D2 fund.
Before we go this week, we’re looking at the possibility of commissioning various artists throughout the year to produce some art for our weekly updates which will then be made available for purchase for our community.
If you’re an artist or know someone who might be interested please contact firstname.lastname@example.org
That's all for this week. If you have any questions come and join in on the Discord channel.