Schizoposters are weird

GM. For those of you who are at NFT NYC today, have a great one! Let's get right into it.

Today we cover:

• The new NFT collection by the Dogecoin creator

• Schizoposters, the weirdest NFT collection these weeks

• Reddit's Gen 3 avatars launch

• New projects corner

Market Update: Blocky Doge 3

It was a good Tuesday — the Forkast 500 NFT index is up 1% on the day. It's still a pretty dry market with little activity going on.

The hottest new collection that launched yesterday? Blocky Doge 3. This is a free mint by the creator of Dogecoin, Shibetoshi Nakamoto and now sitting at a floor price of 0.06 ETH ($110). There is no roadmap or utility and in its description it clearly states "10k avatar joke collection parodying web3 and NFTs". Yet people are buying it up. It shows how we love our memes

Schizoposters Are Vibing

💲 What to know: Schizoposters, one of the quirkiest PFP communities to emerge recently, has been performing well, with floor prices reaching an all-time high of 0.3 ETH this week. But what sets them apart?

☘️ In the weeds: Schizoposters are a derivative project of the Miladies. It's the creation of two anons, @GiverRod and radbro @10xdegendev. Miladies are a PFP collection that's seen growing interest. Its ecosystem is expanding: there is even an NFT marketplace to mint and trade Miladies derivatives — Scatter marketplace. It is touting an upcoming airdrop of $SCATTER tokens.

Schizoposters' art is highly technical, featuring AI-altered base images of female anime characters with an overlay of randomized text snippets (not in metadata), creating an impression of scattered thoughts. The devs are pretty based.

With various archetypes to choose from, it's all about finding the one that resonates with you. Each has a very different visual appearance. Rarities probably don't matter so much here. If we had to pick, our personal favorite is the Celestials.

Schizoposters aren't for everyone. If you dive into the discord, you'll immediately know if it is for you. There's lots of shitposting and copy-pasta activity.

🤑 Why it matters: Unlike many struggling PFP projects, Miladies and Schizoposters have captured the hearts of crypto-native collectors who embrace the cypherpunk nature of crypto, anonymity, and memes. These collections prioritize vibes over mainstream ambitions like launching games or becoming IP players & brands.

Schizoposters' success may lie in their existing product-market fit, catering to today's crypto-native audience rather than building for an uncertain mainstream future. Keep an eye on this unconventional community.

Today's News & Coolest Tweets

• Moonbirds' Mythic Egg claims start on April 17

• Sound, a music NFT platform, will allow all artists to access its tools

• Reddit's Gen 3 avatars launch on April 12

• Parallel's upcoming weekend play-test on April 14 - 17: you can register to try out the game

• Psychedelics Anonymous, a PFP collection, launches its ecosystem currency PSY

🐥 Types of games that fit in best with Web3

🐥 Don't fall for this new discord scam

🐥 Nike .SWOOSH holders might get an airdrop

🐥 Doodles opens applications for its community council

🐥 The power of NFT index funds

New Projects Corner

🍿 (PFP) Solana's most highly anticipated mint goes live on April 20

🍿 (Art) Vintage photography drop on Focus Bloc

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' 🥹

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.