Artsy Friday: Fellowship & Post-Photography

GM. A big friday hug to all our new subscribers who joined this week. *GROUP HUG*. You've come to the right place. And we've got some good art to show you today. Let's get right into it.

Today we cover:

• Doodles sink after Poopie's words

• It's Artsy Friday: Fellowship, a post-photography gallery

• Epic Games Store adding more games, Sotheby's will auction more NFTs, and other news

• New Projects Corner

Market Update: Doodles Sinking

Abandon ship! This is not a drill! That's the sentiment right now in some of the PFP communities, especially Doodles and Moonbirds. Sellers are exiting in droves, pushing prices down to new lows on high volume (Doodles and Moonbirds are both under a 4 ETH floor price now).

The Doodles price action was triggered by this hot take by co-founder Poopie, who said they're not an "NFT project" and wouldn't spend resources to appease their holders. There was a major backlash on Twitter after this went viral.

Poopie has since commented on the feedback, partially stepping back from his hot take to appease the crowd. Some founders are just magnets for controversy and make for entertaining news. In our view, Doodles needs to keep its existing superfans in mind even as they build out its long-term vision for a media franchise.

Artsy Friday: Fellowship, a Post-Photography Gallery

💲 What to know: Fellowship is an NFT photography gallery. Fellowship launched its membership NFT, Patron Passes, on March 16.

☘️ In the weeds: 1,000 Patron Passes were sold out quickly in a Dutch Auction, at a final price of 0.24 ETH each. Each Pass represents an annual membership, which includes the following benefits:

• Early access to future releases

• Airdrops & discounts

• Voting rights for their charity that supports marginalised artists

What has been driving interest in the Pass is its upcoming post-photography show in April. Show #1 is headlined by Roope Rainisto, a rising AI artist whose collection "Life in West America" received a lot of praise. During Show #1, Rainisto will be launching a new collection REWORLD.

Some of the REWORLD outputs are wild, like this one set in a post-apocalytic world

And another one here that we like: Make America Great Again

"Life in West America" is currently at a floor price of 7.9 ETH with the same limited supply, so we speculate that this new collection could sell out at 3 - 4 ETH each. Patron Pass holders get access to the Dutch Auction 30 minutes before the public, but even non-pass holders will stand a chance to buy if the auction price falls below 4 ETH.

On Day #2, there will be another 1,000 post-photography artworks from 10 curated artists that will be sold. Patron pass holders get to purchase them at 0.1 ETH each, a 50% discount from the public price of 0.2 ETH.

🤑 Why it matters: Post-photography is the latest art trend that's come to the forefront. It's the intersection of AI and photography, resulting in unpredictable yet photorealistic works that defy the laws of physical reality.

(above: work by Simon Raion)

For photography and art enthusiasts, the Patron Pass (currently 0.7 ETH on OpenSea) could be of reasonable value since it provides early access and discounts to these works by a stable of talented artists. But take note that the benefits only last for a year.

Today's News & Coolest Tweets

• Nuqtah, a Saudi Arabia based NFT marketplace with government support, completed an investment round led by Animoca Brands.

• Sotheby's to hold meme-inspired NFT auctions, one of which features Beeple.

• LinksDAO wins bid for golf course (estimated $900k bid)

• Nouns to fund a feature-length animated film about its NFTs

• VeeFriends announces Burn Island 2 (related to Book Games)

• Jack Butcher gives an update on Opepfp, the "check collectors' pfp"

🐥 Epic Games onboarding 20 more games to its store

🐥 Future of Play-and-Own games on Solana

🐥 Digital art = $1 trillion asset class?

🐥 NFT flippers are making losses

🐥 NFT whales are accumulating Terraforms

🐥 ApeCoin supply linear unlocks begin on 17 Mar. Be careful

New Projects Corner

🍿 (Collectible) DeGods's Public mint on Bitcoin: some time between Friday to this weekend

🍿 (Art) Membership card by art trading platform LiveArt going for sale on April 4

That's it for today folks, see you tomorrow. If you want more, follow us on Twitter (@the_metadata). If you found this newsletter helpful, imagine how much your friends will love you if you forward it to them. Just sayin' 🥹

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Disclaimer: This newsletter is for educational purposes only. None of this is financial or investment advice. It is not a solicitation to buy or sell any assets. Minting and buying NFTs is risky. Please do your own research.