Supernova

Every week on Thursday, we highlight 1 NFT project that’s worth paying attention to, based on our research. This week, it’s Pixel Vault.

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Today we cover:

• Vera Molnar’s NFT drop just did a 4X in a day. She’s a pioneering artist

• Supernova: Is this going to be Pixel Vault’s comeback story?

• Why a DeGods crash is becoming probable

• Reddit’s Gen 4 avatar launch

Market Update

Not much went on in the NFT world. Everyone’s been busy trading memecoins, it seems (err…HarryPotterObamaSonic10Inu?)

Vera Molnar's NFT drop (samples above) shows how there are still opportunities for those paying attention. Vera Molnar is a Hungarian-born artist who is a pioneer in computer art. She partnered with Martin Grasser to create her first and only on-chain generative art project based on the letters "NFT". The collection was sold out at 0.75 ETH on a Dutch Auction and is trading at 3 ETH now (>4X)

On the other hand, a recent auction conducted by Christie's in partnership with Gucci didn't fare as well. The auction managed to raise less than 100 ETH, with seven or eight pieces failing to meet their minimum bids.

Supernova: Pixel Vault's Resurgence Begins

Pixel Vault announced that its Supernova event will finally be happening on 8 August with a teaser tweet.

We did our research and while nothing is confirmed (all of this is speculation), here’s what you could expect:

• Announcement of a new fungible token ($GG) and its distribution

• How planet NFTs (and other PV NFTs) can be burned to receive $GG

• Token will likely be distributed over time, not all at once

• The launch of reboot.gg and Battle Plan a few weeks later

• A vote will be required to approve this

As a quick recap, Pixel Vault is an NFT startup that rose to major fanfare in 2021. It was founded by GFunk and Beanie (who has since left), who aimed to establish a Web3 brand as a major media group across various mediums. We're talking TV, films, NFTs, video games, sports - the whole shebang. Their main projects include the MetaHero Universe (think Marvel Cinematic Universe but on the blockchain), PUNKS (an expansion of the iconic CryptoPunks collection), Pixel Vault Founder's DAO, and Pixel Vault Sports.

They've also been dipping their toes into the world of sports, brands, and gaming, with collabs with WME and Adidas, and even a stake in Crawley Town Football Club with Wagmi United.

However, it hasn’t been smooth sailing. PV has taken a heavy tumble. One key reason was a major oversupply in its NFTs and tokens, which was designed during a raging bull market. It was a complex ecosystem with a fungible token ($POW), governance NFTs (planets with >100k supply in total) and multiple different NFT collections (Founders DAO, Metaheros, Comics etc).

So everyone in the community is looking forward to the Supernova. A new beginning for PV.

According to a PV team member Ctrl:

“Supernova has always been the "event" where the public learns everything about how the PV ecosystem is going to change. Think of Supernova as the word used to describe the entire process, but for sake of dating it as an event, Supernova is what is happening on 8.8.23

Supernova requires a vote. A lot of our ecosystem is DAO's, and we can't act without the community's approval. Supernova is us laying out our plan (the one that we have determined hand in hand with the Core Committee) for the future.”

🤑 Why it matters: Everyone loves a comeback story, especially in NFTs. Gfunk and the PV team have continued to push on through the bear market, grinding it out for years.

So, will Supernova be the catalyst for Pixel Vault's resurgence? We shall see.

Our Favourite Tweets

🐥 Is DeGods going to suffer the same fate as Azuki post-elementals mint?

🐥 A visual representation of the market cap of top NFT projects. A nostalgic jaunt into NFT history.

🐥 NFT finance continues to make progress, many projects showing positive growth

🐥 Star Atlas cuts 70+% of its headcount. Expect more Web3 gaming startups to make similar announcements in the coming year

🐥 17 zombie punks just started moving again from this old wallet

🐥 Sports #1: The National Hockey League is launching NFTs

🐥 Sports #2: Mahomes, a famous American football quarterback, is launching an NFT collection

🐥 Early NFT projects for you to do your research on. 3 of them are free mints you can still get into.

🐥 Gucci going to reward its NFT holders with a real, physical Gucci bag. And it’s free. Talk about actual NFT utility

Upcoming Mints

🍿 Reddit Gen 4 avatars just dropped on July 26. It was a sudden announcement and they worked with 139 artists for this drop, including some of your favourite NFT creators.

Many are still available for purchase at prices ranging from $10 to $199. Some of the most popular ones, including the Cool Cats and Rojom’s drop have sold out already.

🍿 Etihad is getting into NFTs. Yes, the UAE airline. 1 August

🍿 GM studios’s next drop: The Source by Camile Roux x Matthieu Segret. Dropping on 31 July. 300 pieces, on a Dutch Auction starting at 4E and ending at 0.25E.

That's it for today folks, see you tomorrow. If you want more, follow us on Twitter (@the_metadata). If you were forwarded this newsletter, you can subscribe with just one-click:

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.