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GM. We've got a packed edition so let's get right into it.
Today we cover:
NFT degens are partying...on Solana?
Get ready for NFTfi rewards
Why Nakamigos has the most 0 IQ holders
Grant Yun's new NFT drop tomorrow
Market Update: The Party is at Solana
The Forkast 500 NFT Index experienced a slight drop yesterday, decreasing by 0.48%, which brings the total decline this week to a concerning 8.2%. Yes, our NFTs are crying out for help.
The party seems to be happening on Solana these days. Mad Lads, this year's most anticipated project on Solana, was released over the weekend and has been consistently gaining momentum. It's now valued at 85 SOL, an impressive 12X increase from its original mint price of 6.9 SOL in just a week's time.
Get Ready for NFTfi Rewards
💲 What to know: NFTFi launches its rewards program today, allowing users to earn reward points for lending and borrowing on their platform. Reward points will likely be redeemable for tokens in the future.
☘️ In the weeds: For those not in the loop, NFTFi is one of the largest NFT lending/borrowing platforms on Ethereum, having already reached over $400M in cumulative loan volume. (See chart below, h/t @richardchen39)
If you've used NFTFi before April 13, make sure to hop onto the platform and check your point balance. You might have some OG points waiting for you. But don't wait too long! To secure these points, you need to start a loan on the platform before May 15, or they'll expire
And there's more! Starting May 15, NFTFi is kicking off "Earn Season 1," where users can earn rewards points for their loans. The best part? Larger loans and lower interest rates (APRs) could mean even more points for you, according to the team.
🤑 Why it matters: Well, it looks like NFT finance summer is heating up, with many protocols getting ready to launch their tokens. We expect airdrop farmers to start shifting their focus to lending/borrowing protocols like NFTFi.
This is great news for users because it means there'll be a higher level of liquidity for NFT loans. More liquidity means you'll be able to secure a loan quicker and at lower interest rates. That's a win-win.
Today's News & Coolest Tweets
🐥 Nakamigos — the NFT project with the most 0 IQ holders
Nakamigos has just flipped BAYC as the collection with the most 0 iq holders
-over 20 Nakamigos holders blindly send $$$ to private address for meme coin presale
-project kept increasing presale hard cap
-dev teaches a valuable lesson by rugging 60 ETH ($110k) & deletes twitter http— ZachXBT (@zachxbt)
8:34 PM • Apr 24, 2023
🐥 More details about Yuga Lab's new game LoTM
Environment tiers matter! In LoTM, an Environment tier dictates the number of workers (Koda, Kodamara, Farmer Mara, and Hunter Mara) that you can allocate to an Otherdeed. twitter.com/i/web/status/1…
— Othersidemeta (@OthersideMeta)
7:14 PM • Apr 25, 2023
🐥 AI x NFTs
In a world awash in synthetic media noise, onchain provenance and NFT ownership offer a signal of authenticity and value.
We’ve been exploring this theme at @variantfund as investors and as creators ourselves:
— Jesse Walden (@jessewldn)
4:34 PM • Apr 25, 2023
🐥 NFT finance updates in a nutshell
It's time for NFT Finance Digest #3!
A curated weekly 🧵about all things NFTFi 🚀
#3 Edition:
- Lending: @Arcade_xyz , @ParaSpace_NFT /¿liquidations?
- Futures: @nftperp 🔥
- Hybrid models are here: @Sodium_fi /
@NFTYFinance / @AstariaXYZ
- On my radar
- Shotouts— Renato Martinez 🍙🍚 (@renacassinelli)
3:00 PM • Apr 24, 2023
🐥 Miladies to flip BAYC one day?
Most are not prepared for this scenario
— foobar (@0xfoobar)
12:42 AM • Apr 26, 2023
🐥 Earn $KARATE with our bros, the Kampai Pandas
Get ready for the biggest competitive airdrop in Web3 🐼🥋
Over a billion $KARATE will be up for grabs!
It gets even better…All PANDA HOLDERS play for FREE 🍻
A🧵
1/6— Kanpai Pandas 🐼 (@KanpaiPandas)
4:37 PM • Apr 24, 2023
🐥 Moonbirds forms a community council
A few weeks back, we shared a plan to create more opportunities for collaboration within our community.
Today, we’re excited to announce one piece of what that looks like: The @proof_xyz + @moonbirds Community Council 🧵
— Moonbirds (🦉, 🎨) (@moonbirds)
8:43 PM • Apr 25, 2023
🐥 10KTF partners with Puma for this sneaker NFT drop
An unexpected journey sparks new inspiration when Wagmi-san and PUMA revive the classic Slipstream in the spirit of 21 PFPs. Bring a supported PFP to 10ktf.shop and a Mint Pass for a Battle.town-ready NFT and matching 1:1 sneakers..
Register for the allowlist on… twitter.com/i/web/status/1…
— Wagmi-san (@10KTFshop)
6:02 PM • Apr 25, 2023
New Projects Corner
🍿 (Art) Grant Yun's Life in Japan 2 collection drops on April 27 at $299 each
We hope everyone is as excited as we are to welcome @GrantYun2 back to Nifty Gateway Curated this Thursday, April 27th at 6:30pm ET.
Here’s everything you need to know about the collection, drop mechanics, and some other helpful FAQs.
— Nifty Gateway 🌐 (@niftygateway)
8:06 PM • Apr 24, 2023
🍿 (Photography) Focus Bloc's next mint on 2 May
Details on the upcoming mint 📸
Supply: 333 one-to-ones
Price: 0.4eth / 0.3eth for pass holders
When: 2nd May, 6.30pm CET /12.30pm EST
Where: focusbloc.io/collection
How: allowlist raffles on @premint
See below for the links 👇— Focus Bloc (@FocusBloc)
5:47 PM • Apr 24, 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. 🥹
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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.