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Instagram NFTs Are Popping — Aku Sells Out Its Mint
Instagram has over 2 billion monthly active users worldwide. Is this mainstream adoption?
The Metadata
January 16, 2023
GM. We hope you had a wonderful weekend, taking time to chill out and touch some grass. We sure did. By popular demand, we're starting a new section to highlight interesting new NFT projects and drops that we come across. Let us know if you like it!
Today we cover:
Weekly Active NFT Users Rise
Aku sells out its mint on Instagram: What does it mean for the future?
New & Interesting NFT projects
Today's Cool Tweets
Weekly Active NFT Users Rise
The number of weekly active users on Ethereum NFTs is steadily rising, driven largely by growth in OpenSea users. In fact, it is just about 37% off the peak number of users back in Jan-Feb 2022. Could this be the start of an uptrend, another sign of green shoots in the NFT markets?
(h/t @Nansen for the data)
Instagram NFTs Are Popping — Aku Sells Out Its Mint
💲 What to know: Aku, a Web3 media & storytelling project, sold out its NFT collection on Instagram in 11 seconds. This was a collection of 100 editions for $100 each. It has a floor price of 0.28 ETH ($440) now on OpenSea.
This happened because Instagram recently allowed selected digital artists to mint and sell NFTs directly on its platform. Aku is one of the first to do so, alongside other well-known artists like Driftershoots & Refik Anadol
☘️ In the weeds: Buying digital collectibles on Instagram is only available to US residents at the moment.
Buying is done entirely on the IG mobile app. To do so, you need to connect your digital wallet to your Instagram account. There will be a new digital collectible icon that allows you to shop and buy NFTs.
Payments are made using the same payment method tied to your Apple App Store / Google Play Store's account, typically a credit card. Once completed, the NFT will be sent straight to your digital wallet.
🤑 Why it matters: This new feature gives creators the opportunity to monetize their audiences in a new and interesting way — instead of having to rely on product placements and brand sponsorships.
Instagram is still trialing out this feature and has limited its access while it gathers feedback and improves, but it's still mindblowing to see this live in action. Instagram has over 2 billion monthly active users worldwide. Once the doors open, it will be a frenzy and could help NFTs reach more mainstream adoption.
For many creators and fans, Instagram will be their first step into the world of NFTs, crypto, and digital assets. There's also alpha in watching out for NFT drops on Instagram, instead of Discord and OpenSea. Wild times.
New & Interesting NFT Projects
🍿(Art) Teaser for artists for PROOF's Grails Mint Pass
A little Grails alpha to start your Sunday. Artists in this season include..
- 3 @artblocks_io Curated artists
- 3 artists responsible for major pfp projects
- 1 artist represented by one of the largest trad art galleries in the world dropping their genesis NFT.— Eli Scheinman (@eli_schein)
5:33 PM • Jan 15, 2023
🍿 (Art) Gelo's 1/1 drop
" Blueprint" has been ready for 16th @ 9:00am est
wish it's more affordable gelo's 1/1 piece for all!!on 16th EST
@ 9:00am EST
@ 6:00am PST
@ 15:00pm Euro
@ 22:00pm Asiaprice 0.85e fixed/ 35 1/1 randomized Drop
foundation.app/collection/bup…
— Gelo (@gelo_arch)
5:11 PM • Jan 14, 2023
🍿 (Art) Noble Season 2 pass dropping 19 Jan
Noble Season Two Public Premint is open!
Owning Let’s Play gets you 6 Legendary Art drops, exclusive Noble Gallery oncyber airdrop, entry to over 44 weekly curated edition raffles, Challenge upgrades, & Let's Play Discord access. We’re making 200 passes available to the public. http
— Noble Gallery (@noble_gallery)
12:25 PM • Jan 13, 2023
🍿 (Collectible) Meme Card artists for this week
Since we have the pieces locked in for this week's Meme Card drops, I'm going to announce the artists so their collectors can be ready.
All mints 11am ET.
Monday (1/16): @mindzeye
Wednesday (1/18): @oveck
Friday (1/20): @benstraussphotoLFG!
— 6529 (@punk6529)
4:48 PM • Jan 15, 2023
Today's Coolest Tweets
🐥 NFT projects still earning sizeable royalties
With week #2 almost in the books it's time for the Friday the 13th version of royalty breakdown!
🪄 Week over week, the top 20 collections brought in $3.5M, a 90% increase
🪄 Captainz from @Memeland, fresh off its mint, brought in $1M in royalties with Potatoz in 4th ($216K)
— Definitive Intelligence (@DefinitiveIO)
10:54 PM • Jan 13, 2023
🐥 Be careful about $SAND (The Sandbox) token unlocks on 14 Feb
Interesting movements on $SAND addresses
Address which received tokens from Genesis allocation (i.e. insiders) moved 21.6mln $SAND to Binance ($15mln) on 9th of January
Price pumped a lot afterwards: would track this wallet to anticipate insiders dump
etherscan.io/token/0x3845ba…
— Unlocks Calendar (@UnlocksCalendar)
5:37 PM • Jan 15, 2023
🐥 Roadmap for Bored & Dangerous' PFP collection
We're hard at work with our incredible Creative Director @tycarterart on the new Azurian PFPs. The art development is split into 3 distinct phases, each with its own scope, timeline, + subsections.
We'll host a Spaces in the coming weeks and discuss Phase 1 in greater detail.
— Azurbala (@azurbala)
7:48 PM • Jan 13, 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.
We're looking to improve the newsletter and make it as relevant as possible for you. If you have any feedback to share — please just reply to this email and let us know. Or even to just say 'Hi'.
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.