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- Gem rebrands to OpenSea Pro
Gem rebrands to OpenSea Pro
It's like choosing between regular and premium gas
The Metadata
April 05, 2023
GM. Why did Panda refuse to go to the zoo? Because he didn't want to be mistaken for one of the exhibits.
Today we cover:
Elon tweets about NFTs and seizing memes. Milady soars.
Gem rebrands into OpenSea Pro
Lots of news on Kodas & the Otherside. And a big Chinese gaming company gets into Web3
New Projects Corner
Market Update — Milady Soars
It was a wild day. After changing the iconic blue bird logo on Twitter into the Doge logo, Elon Musk continues on with his shenanigans. He tweeted, "Seize the Memes of Production", referencing an NFT collection by 6259. (he later deleted the tweet). It sent the collection's floor price soaring more than 4X.
Another collection that is running is the Miladies (chart above), with floor prices almost doubling over the past week. It's the favorite PFP of a crypto-native degen, with a tight meme-driven community. We think it could continue to run.
OpenSea Goes Pro
💲 What to know: Gem, the NFT marketplace aggregator that stole the show in early 2022, has gone through a major rebranding and is now called OpenSea Pro.
Yep, you heard that right - there's now OpenSea and OpenSea Pro. It's like choosing between regular and premium gas, except in the world of NFT trading.
☘️ In the weeds: Gem was the darling of the NFT marketplace aggregator space in early 2022. Everyone was trading NFTs on Gem. It was acquired by OpenSea in April 2022 and faded into the shadows... for a while.
Gem came back into the limelight early this year, launching its v2 marketplace beta with lots of new feature targeted at pro traders. And now it's officially come under the OpenSea branding.
OpenSea pro has a number of features that appeal heavily to NFT traders and degens:
0% marketplace fees if you list on OpenSea via OpenSea pro (a big plus IMO)
Aggregation across 170+ marketplaces for the best prices
Save on gas fees through optimized smart contracts (another good thing)
Real-time minting and collection data
It gets more interesting. Together with the rebrand, they've released a free NFT ('Gemesis') for anyone who has used Gem before. It has a 180,000 max supply with about 40,000 minted. And it's trading for 0.06 ETH ($110). The FAQ clearly states that the NFT is purely a gesture of gratitude to its early community, yet people are buying these up — see the chart above.
Why? Because they speculate that it could be tied to a future OpenSea airdrop. And we don't blame them because there could very well be one (although the chances are low). Companies use vague language when describing the utility of their tokens because it could get them in trouble with securities law if there is any mention of the potential for profit.
And let's not forget the mystery surrounding these NFTs. While they remain unrevealed, they will have traits and ranks tied to the date the user first bought an NFT on Gem. The earlier the date, the lower the rank - adding an exciting element of nostalgia to the mix.
🤑 Why it matters: OpenSea Pro is a formidable weapon in OpenSea's arsenal, especially in the ongoing marketplace war with Blur. We've tried it out for ourselves and can attest to its power - it gives all other marketplaces a run for their money.
Plus, there's talk of an upcoming incentive system tied to NFTs (instead of tokens like on Blur), so keep your eyes peeled.
Today's News & Coolest Tweets
MetaMask now keeps track of NFTs and allows you to send them directly via its extension
Papa Johns to launch Pizza NFTs on Polygon
Ecosapiens raises $3.5M for its carbon-backed NFT collections
VeeFriends announce Burn Island 4
Altered State Machine and FIFA launch open beta for its AI football league manager
Gucci partners with Otherside to release physical necklaces for Koda holders, costs 450 $APE each (~$2,000)
Koda Decoupling and Vessel claims will happen on the Otherside this week
🐥 TXT > PNG > JPEG on Ordinals
Breakdown of the 804,658 ordinal inscriptions by file type:
TXT: 364,905
PNG: 270,313
WEBP: 86,783
JPEG: 40,243
SVG: 16,242
HTML: 11,454
JSON: 6,768
GIF: 4,896
MP4: 1,360
WEBM: 357
MPEG: 316
PDF: 218— Ord.io (@ord_io)
8:25 PM • Apr 3, 2023
🐥 Big Chinese gaming company coming into Web3
A $20 billion-plus Chinese gaming behemoth is coming to web3.
They are Launching two new games through a new studio.
Let's go through everything you need to know. 🧵
— A ZEUS (@0x_zeus)
4:02 PM • Apr 3, 2023
🐥 New token standard on Ethereum could enable many cool functionalities
A thread on ERC6551 (the next innovation for NFTs):
In 2017 I was part of the team that worked on the ERC721 standard and eventually launching CryptoKitties.
See photos of our team as we worked towards the ETH mainnet launch!
— BG ✳️ ERC6551 (@BennyGiang)
5:43 PM • Apr 1, 2023
🐥 On cultural relevancy at the intersection of crypto & AI
My passion for the space is occupied by the intersection of Art, Web3, NFTs, AI, AGI and Digital Innovation. This has sent me down a rabbit hole reading, watching and listening to a diverse set of thinkers. This is where it started
— FrankieDTankie.ethᵐᶠᵉʳ (@FrankieDTankie)
3:24 AM • Apr 4, 2023
🐥 Awesome trading lessons from the white wolf
[Final Update]
TA Lessons:
i) Supply & Demand
ii) Support & Resistance
iii) Swing Failure Pattern
iv) Trading Ranges
v) Divergences
vi) Trends & Reversals
vii) Miscellaneous
This should cover the basics.Most of my trading setups are a concoction of the aforementioned
— Hsaka (@HsakaTrades)
5:13 AM • Aug 17, 2018
🐥 Earn Starbucks Odyssey stamps just byparticipating
Earned my 1st @Starbucks Odyssey Stamp w/o buying a single drink. To earn the 'Signature Showdown' stamp, I simply had to vote on my favorite drink for 4 weeks.
Interested to see if efforts like this have any impact on classic loyalty KPIs (e.g., avg. spend/member, LTV, etc.).
— amanda (@amanda0x)
10:14 PM • Apr 3, 2023
🐥 Understand what a smart contract is doing, using this cool tool
Introducing "Contract Wizard [V1.1] 🪄"
This app takes a contract address and explains the contract to you
Updates:
- Better Explanations
- Multichain support (Ethereum, Polygon, Optimism, Arbitrum)Built with @OpenAI and @streamlit
— Kofi (@0xKofi)
4:21 PM • Apr 4, 2023
New Projects Corner
🍿 Kandyland minting starts on April 7
Get ready for The Grand Opening on Friday, April 7 🍭
Wallet checker is live: kandyland.io
— Kandyland (@kandyland_io)
6:23 PM • Apr 4, 2023
🍿 (Art) Trevor Paglen's collection for Art blocks x Pace starts at noon today ET
Tomorrow is a big day. I’m launching a new project that’s been years in the making... I’m releasing a record! But it’s more than it seems… A thread…🧵
— Trevor Paglen (@trevorpaglen)
5:01 PM • Apr 4, 2023
🍿 A list of NFT projects to keep an eye on
🦅Project to keep an EaGLe eye on
🏆The NFT space has been a bit quiet lately, but here's a reminder that there are a lot of good projects coming...
Let me know your thoughts in replies, let's connect 👇
⚠️NFA/DYOR as always
🧵
— AtomEGL (@atom_xyz)
6:00 PM • Apr 3, 2023
🍿 (Art) 0xDEAFBEEF's new art project begins April 5, 12pm ET
Tomorrow we take things back to another time 🕰️
Memory Box by @_deafbeef will center around a 1/1 auction of the first relic, complemented by a series of editions, released progressively over a few days.
It begins Wednesday, 12 ET. 💾
— Ensemble (@ensembledotart)
4:12 PM • Apr 4, 2023
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 forwarded 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.