#141 - Aku undergoes a rebrand

GM and welcome to Decentra Daily.

We're the web3 newsletter that will give you the honest truth. If you want to be told you're amazing and that everything is gonna be alright, then call your mom. 

Today Wiggles talks:

• Aku rebranding

• Open Edition case study

Top 24 hr collection volume

via CoinMarketCap

1. CryptoPunks - 11 sales earning 1,390.55 ETH (0.20%)

2. Sewer Pass - 294 sales earning 950.29 ETH (0.03%)

3. BAYC - 2 sales earning 171.99 ETH (0.23%)

4. MAYC - 10 sales earning 145.75 ETH (0.07%)

5. Otherdeed - 39 sales earning 105.61 ETH (0.17%)

JFC! People liked CryptoPunks yesterday! Fun fact of the day: Wiggles is a CryptoPunks derivative...and one of the first cartoon-ized versions.

Aku is rebranding

You may have heard of Aku, the brainchild of Micah Johnson. Aku is a character based on Micah's nephew who asked the question..."Mom, can astronauts be black?"

Micah created the character and subsequently released chapters as NFTs, telling Aku's origin story if you like. 

After this Akutars were released, which are 3D avatars built in Unreal Engine. 

Micah and the team over at Aku Dreams have decided to rebrand Aku:

TL;DR:

• Mission: empower children to break down barriers and chase their dreams through relatable content, fun education, and innovation

• Mainstream: to focus on kids and parents, the rebrand of aku.world has already occurred. Content will be targeted and consistent

• Web3: leaning into Web3 more, with the creation of Area 21, which will be the foundation of, and sounding board for the direction of Aku

• Area 21: think whitepaper, yellow backpacks, artists and collaborations, and ownable environments....the home of Aku and community members

"Aku is a character that will last longer than us, and we believe Area 21 will be the heartbeat of our organization." - @Micah_Johnson3

One of the biggest whales in the NFT space is bullish on Aku/Akutars, Pranksy had 300 Akutars (he gave some away recently in his @nftboxes series)

Akutar stats

• Floor price: 0.29 ETH

• Avg price: 1.52 ETH

• Maket Cap: 11,720 ETH

• 30 day holder trends: Unique holders have fallen -0.80%, but whales are collecting with a +21.05% increase in whale holders....looks like they are buying the dip, hopefully they grab some chips with that.

Wiggles thoughts: It appears that some whales are accumulating more Akutars, while unique holders have dropped an inconsequential amount. The floor is considerably down from ATH's, will it go lower? or is this the time to buy? 

It may be a good time to accumulate if you believe in the long term vision on Micah, and investing thesis of the likes of Pranksy and Dingaling. DYOR!

Aku stats brought to you by NFTGO.io

Tweet of the day

I want to make $800k+......if you want to see how to lose $800k+ make sure to keep an eye on the Wiggles wallet for the next couple of years.

On the web3 wire

The 'Golden Cross' is coming ✝️Previously, significant bitcoin rallies were initiated by a golden cross, Bitcoin and the S&P 500 are approaching one.

Coinbase NFT marketplace on pause? 😵‍💫Coinbase NFT is pausing future NFT drops, but not shutting the marketplace. To focus on other features for the marketplace.

Open Edition Case Study: Wiggles

As much as it shames me to say I have been minting some Open Editions (OE). They are currently the craze in the NFT space. 

Open Editions are essentially when an artists offers up a single piece of their artwork for a limited amount of time, and an unlimited amount can be minted as NFTs.

Artists typically announce follow-up 'burns' where a certain amount can be transferred for a new iteration of art and rarity in some case. 

Artists are launching NFT OE's mainly on Manifold or Zora, two great and easy to use services.

Here are 2 of my OE mints from the past couple weeks to see just how good/bad these mints can be:

Checks - Jack Butcher

• Minted: 12

• Mint price ea: 0.0066 ETH ($8.3), total: 0.0792 ETH ($99.51) + $10 gas

• Sold: 6 for a total of 0.45 ETH ($750) after gas + royalties

• Holding: 6 (current floor ea. = 0.9 ETH/$1,505)

• Realized profit = $640.49

• Unrealized gain based on current floor = $9,030 

Trade result: A

A Breath of Fresh Air - Dangiuz

• Minted: 22

• Mint price ea: 0.069 ETH ($115.4), total: 1.5 ETH ($2,538) + $15 gas

• Sold: 0

• Holding: 22 (current floor ea. = 0.039/$65.23)

• Unrealized loss based on current floor = $1,117.94

Trade result: D-

Wiggles thoughts: My minting of Checks was a bit of a fluke, I saw Jack Butcher had a large following, and it seemed like a meme-able image, however I did not expect to floor to go anywhere near this price. My sales were all around 0.08, and I was happy taking profit there, which will get me that hammock I've been eyeing. 

Because I aped into Checks and it was successful I decided to 'throw' my hammock funds at Dangiuz, an artist I didn't know. I still think there is room to save the floor as the burning of his pieces starts today. However, this one is looking much less favourable. In times like these I wish I could ask for a refund.

The above can show you the two sides of NFT trading. You win big at times, and then can lose big.

Beeple heard I was buying OE's and decided to make a meme:

Decentra Daily is brought to you by Coinbase

If you bought crypto last week you'd be laughing this week, because we are in the green! If you buy this week you'll probably cry next week, and that's how crypto goes. 

Our advice, buy when it's down, sell when it's up 🧠

But to make the gains you have to be ready to buy. And what better place to do it than at Coinbase, where you can easily convert fiat to crypto! 

Signing up for Coinbase gets you:

• A simple interface and best-in-class design for newbies

• On-demand or scheduled crypto investing

• Tools including a self-custody wallet & Visa debit card

100M+ users in 100+ countries use Coinbase every day to buy and sell cryptocurrency. Join the web3 party in <5 mins with a Coinbase account.

Meme of the day

It seems like every man and his dog are making derivatives of Checks - VV Edition, and their floor has skyrocketed to 0.9 ETH, as you read above. Budweiser, the owners of beer.eth like the Checks.

Wiggles also loves Hasbulla! (not his NFTs so much), so I had to include this as well, it made me laugh:

Peace out degens! 👋

What we're reading this week