Get your Squiggles Sweater

GM. Let's get right into it.

Today we cover:

• 🤮 “Cancer patient” scams $100,000+ in a day using pixelated Penguins

• 👕 Get comfy in your own personal Squiggles sweater

• 🦧 Story of an OG punk holder who got lucky

• 💰Astaria, a new NFT lending protocol, launches

Market Update: Everyone’s a scammer

Another wild day in NFTs. A “girl” (@hopeexist1) made an NFT collection (Pixel Penguins) to help herself battle cancer — “80% of the income from this project will be used for chemotherapy treatment”.

This story was picked up by influencers like Andrew Wang and Benjamminx who shared the tweet out, thinking they were doing an altruistic act. The 10K collection minted out at 0.0069 ETH each (netting the scammer 69 ETH / $130,000). Floor prices went to as high as 0.07 ETH before it rugged.

Turns out the art was stolen and the girl was not real. Morale of the story: Everyone is a scammer until proven otherwise

In other news, the number of weekly active traders across NFT marketplaces has fallen significantly. It’s at around 60,000 now, down 60% from just a few months ago. It definitely feels like we’re entering the quiet phase of the market now. For how long? Who knows.

Squiggles Sweater: Bridging Digital & Physical Worlds

💲 What to know: Tribute Brand has been cooking up something really cool and they finally announced it this week.

They've teamed up with the Waste Yarn Project and Art Blocks to launch a project that's as unique as a unicorn at a horse party.

They're calling it "ODDS", and it's all about generative sweaters.

☘️ In the weeds: Here's the scoop: each sweater is unique and special, crafted from the on-chain source code of a Chromie Squiggle NFT. If you're scratching your head wondering what a Chromie Squiggle is, it's a OG generative art collection by the founder of Art Blocks. Think of it as the Picasso of the NFT art world.

Now, here's where it gets really interesting. The rarity and traits of your individual Chromie Squiggle is used to determine the yarn, knitting stitch and final assembly of the sweater. And the best part? These sweaters are made from surplus yarns, making them a win for your wardrobe and the planet. They might not always match your Squiggle colors perfectly, but hey, who doesn't love a surprise?🤑

Each Chromie Squiggle also comes with on-chain instructions that serve as a blueprint for future productions of your generative sweater.

These limited-edition sweaters will be hitting the shelves in June. If you're a Squiggle or Tribute PUNK owner, you'll get early access and exclusive pricing — It's like being part of an elite fashion club. Even if you don’t own a Squiggle, you can use the original Squiggle algorithm to generate a sweater.

 Why it matters: The Squiggles sweater is a great example of how NFTs can enable unique experiences that weren't possible before — because its metadata can be accessed permissionlessly on the blockchain.

This mix of real-world and online elements is really interesting, especially when you think about how we express who we are online. If you own a Squiggle NFT, you will likely be excited to get a sweater that's made just for you. It could make you feel even more connected to it.

Today's News & Coolest Tweets

🐥 Story of an OG punk holder and how she got lucky

🐥 Thinking about NFTs as VC investments

🐥 Moonbirds makes a fail after fail

🐥 The future of royalties in Web3

🐥 ON1 Force gets revitalized

🐥 Nike OF1 shoes: The best Risk-Reward today?

🐥 Astaria, a new NFT lending protocol, launches

Upcoming Mints

🍿 Ether will mint on 30 June

🍿 OCM Dimensions launch delayed to 15 June

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.