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- Gem launches its v2 marketplace
Gem launches its v2 marketplace
It is backed by OpenSea and building out pro-trader features
The Metadata
February 22, 2023
GM. Someone told us to watch out for camels outside because It's hump day Wednesday. Let's get right into it.
Today we cover:
BLUR bidding wars
Gem, an NFT marketplace aggregator, launches its v2
How not to get rekted on NFTs
New Projects Corner
Market Update: BLUR bidding wars
NFT Trading volume has been going bonkers (h/t @hildobby) but floor prices haven't moved much. A lot of this is the result of people farming for BLUR tokens by placing bids and listing their NFTs.
Bored Ape Yacht Club was at the top of the list, with 11,000+ ETH ($17M) in daily volume yesterday.
Be very cautious if you're placing bids on Blur. We hear that big traders are manipulating floor prices, pushing them up and down to catch unwary bidders, and there have been a couple of unfortunate stories like this:
Just got wrecked by manipulative @blur_io whales
These coordinated pump and dumps are so unfair..
Don’t think I’m recovering from this one, unfortunately.
🖕to the whales that manipulated @pudgypenguins…
Guess I’m a bag holder now… x3
— MonsieurWeb3.eth ⛩️🧬🍯 (@MonsieurWeb3)
9:00 PM • Feb 20, 2023
🔥 Just a quick shoutout before we get into today's highlights:
If you're interested in a tech and AI-focused newsletter, we have one for you: The Status Code is your no-bs friend who shares the latest trends in the business of AI and Tech every week.
It's simple, contains no jargon, and is easy to read. Take a look and subscribe for free if you like it.
Gem Just Entered The Chat
💲 What to know: Gem announced that version 2 of its NFT marketplace is going live soon. It promises many new features.
Gem is an NFT marketplace aggregator that was acquired by OpenSea in April 2022.
☘️ In the weeds: Gem has been pretty quiet for the past 4 - 6 months, deliberately avoiding any kind of media coverage. This week, it teased that "4 months of hard work" is coming soon.
Some features in v2 include:
Aggregates listings from 150 different marketplaces
Live mints
[REDACTED]
Vasa (founder) and his team have been one of the fastest builders in the space. Despite being later to market, they outshipped and outcompeted Genie, one of the first NFT marketplace aggregators to market. So it is going to be exciting to see what the team has been building heads-down.
BTW, the current v2 beta is quite vanilla. Real features will be released soon.
Stay tuned for real pro-trading.
— vasa (@vasa_develop)
4:31 PM • Feb 19, 2023
🤑 Why it matters: Blur's token launch placed a huge spotlight on the NFT marketplace space, with many touting it to be an "OpenSea killer".
We think it's worth paying attention to Gem. Gem is backed by OpenSea and built for the pro-trader. This allows OpenSea to maintain its focus on creators and casual collectors. And who knows, there might be a token airdrop for users down the line...
You can sign up to access Gem's v2 beta here
Today's Interesting Tweets
🐥 PROOF Conference gets canceled
We've made the difficult decision to cancel PROOF of Conference this year. We didn’t take this decision lightly, nor did we make it quickly. We have spent considerable time pouring over all the alternatives, but ultimately canceling the conference this year was the best choice.
— PROOF of Conference (@PROOF_CONF)
7:01 PM • Feb 20, 2023
🐥 Someone lost $3.6M on Moonbirds
Thought you were having a bad day?
Someone just sold 16 Moonbirds for a loss of 596E
They still have a few rares that cost them 850E
At current prices that's a total loss of 1350E or $3.6m using USD purchase prices...and now some annoying Twitter account is tweeting about it
— Cirrus (@CirrusNFT)
10:27 PM • Feb 20, 2023
🐥 What makes some NFT mints special
Curious why some NFT mints moon?
We were too!
We did some research and 🌟hint: price and collection size matter a lot
A 🧵on our findings so you can reimagine your NFT drops and how you build project hype
— Alchemy | The web3 developer platform (@AlchemyPlatform)
9:54 PM • Feb 21, 2023
🐥 Wisdom on how to avoid getting rekt on NFTs
1. Here's why NFT projects are failing, and how you can avoid getting rekt 👇
— OSF (@osf_rekt)
5:06 PM • Feb 21, 2023
🐥 Pudgy Penguin toys soon
Pudgy Penguins X Retail Monster 🐧
This partnership will put our upcoming Pudgy Toyline on the shelves of retailers all around the world while leveraging our IP to enable licensing opportunities with name-brands!
— Pudgy Penguins (@pudgypenguins)
10:00 PM • Feb 20, 2023
New Projects Corner
🍿 Curio raises funds to build games based on user-generated content
A new player has arrived …
We raised $2.9M from @BainCapCrypto, @tcg_crypto and others to build the next generation of crypto games hyper focused on composable user-generated content.
— Curio (@0xcurio)
2:58 PM • Feb 21, 2023
🍿 Dimensionals mint on 8 March
Today, we are updating our mint date to the 8th of March to ensure everyone in the community has a fair chance to apply. Here is everything you need to know! 🧵👇
— Sash DIMENSIONALS (@SashaMackinnon)
11:00 PM • Feb 20, 2023
That's it for today folks, see you tomorrow. If you want more, follow us on Twitter (@the_metadata). And if you aren't already a subscriber, join us now to get all the daily alpha you need.
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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.