#152 - Post Blur airdrop, web3 markets are heating up 🔥

GM and welcome to Decentra Daily.

We're the web3 newsletter that's hoping you took some profits this week!

"Gee, I hear that Decentra Daily Rewards Program is pretty worthwhile..."

Today,

1. NFTs and crypto see lots of movement

2. Two respected web2 brands shooting web3 shots

3. Jimmy's key is for sale on Opensea

Plus, all the web3 headlines, memes, and Tweet of the day.

Top 24 hr collection volume

via CoinMarketCap

1. Moonbirds - 704 sales earning 5,551.8 ETH (0.10%)

2. BAYC - 50 sales earning 3,783.17 ETH (0.03%)

3. Azuki - 231 sales earning 3,514.67 ETH (0.04%)

4. MAYC - 180 sales earning 2,957.71 ETH (0.04%)

5. Doodles - 343 sales earning 2,028.84 ETH (0.07%)

#1 NFT market goes BLURRR 🚀

Blur's airdrop injected tons of liquidity into the market, sparking the highest levels of trading since Yuga released land plots for its Otherside metaverse in May last year.

The results? Floor prices jumped, the NFT market cap increased by nearly 1%, and some expensive JPGs changed hands.  

Here are some nice ↗️ charts for your 👀

Of course, more activity = more volatility. So we'll no doubt see some peaks and dips between when I wrote this sentence, and when you read it.

But as of now, crypto is also enjoying a resurgence too. ETH is up 8% for the week and BTC broke $25K before falling back:

Amongst the profits, a loser emerged

(It's Opensea.)

Check out that first chart again. Thanks to its bidding rewards program, Blur is regularly processing over 3/4 of NFT sales – a seachange from Opensea's traditional dominance.

And Blur isn't done yet...

$BLUR rewards roll on and the marketplace is now starting fights with Opensea over creator earnings/fees/royalties.

In a post on the web3 blogging platform Mirror, Blur laid out new terms for creators who want cashback from their drops.

Creators get a few options to choose from – but the general message is: we'll help you maximize your royalties ...if you stop listing your work on Opensea.

Tweet of the day

On the web3 wire

Sappy Seals announce a gamified BTC NFT mint 🦭The popular NFT collection is building a free gamified experience where anybody can compete to win Ordinals.

YouTube CEO resigns after 9 years 📹Susan Wojcicki ends her tenure at YouTube – opening the door for potential web3 moves from the world's biggest website?

Unstoppable domains now selling Polygon-based addresses 🕸️Users can shop for .nft, .wallet, and .x domains on the Polygon sidechain.

#2 Here's 2 web2 names with strong reputations, entering web3

How can traditional brands successfully join our web3 community?

We know the playbook by now:

• Don't be greedy and make you NFTs expensive

• Don't use weird protocols or random blockchains

• Don't let the CEO's grandson direct the artwork

• Don't call them NFT's (call them collectibles or passes)

• Don't rug holders on promises of utility or value

– and don't press any buttons without listening to your community or a bunch of web3 consultants.

Let's run these two newly announced projects through our DD-Dont's matrix.

These efforts come from web2 companies who trade on big, well-respected reputations: GQ and Square Enix.

GQ

Stylish menswear and lifestyle mag GQ has launched a new platform called GQ3, which will host digital art drops that come with print magazine subscriptions and other IRL perks.

The first drop is titled "Change Is Good" – after the motto of the magazine.

So how does the project score on the DD-Don't scale?

• Price - 0.1957 ETH 👍

• Blockchain - not announced 🤷‍♀️

• Art - various artists inc. Chuck Anderson and Serwah Attafuah 👍

• Utility - a GQ merch box, a sweet founders hat & tix to a GQ3 NYC party 👍

• Branding - "Digital art." 0 mentions of NFTs 👍

Score: 👍🤷‍♀️👍👍👍

Square Enix

Japanese gaming studio Square Enix (Final Fantasy, Just Cause, Tomb Raider, Kingdom Hearts, etc.) has a few web3 projects in the works.

This week, they announced SYMBIOGENESIS – a narrative-based NFT collection where "10,000 collectible artworks meet real game utility" in the fantasy world, The Land of Salvation.

What about this project – has it avoided the classic web2 pitfalls?

• Price - not announced 🤷‍♀️

• Blockchain - Polygon 👍

• Art - sweet looking anime 👍

• Utility - players experience unique story adventures 👍

• Branding - "digital collectible art experience" 👍 (though, it will still be a tough sell to gamers)

Score: 🤷‍♀️👍👍👍👍

Looks like the big brands are learning!

Decentra Daily is brought to you by Coinbase

Web3 moves fast.

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#3 Jimmy's Key could be yours ...for $3.7 million

In more Dookey Dash news, Sewer Pass scores have been verified and the leaderboard is locked into the metadata.

Pass artwork has been updated with Dashers' ranks, and the grand prize – the key to Gary's interdimensional box – was officially awarded to @Mongraal.

@Mongraal said thanks v. much ...and immediately listed the key on Opensea for 2,222 ETH.

With 2,222 ETH equalling over $3.7 million, it's unlikely he'll find a buyer, even if the key does unlock what might be the most valuable Yuga Labs asset yet.

But, impressive offers are coming in, with the top bid sitting at $383K at the time of writing.

Tl;DR? Giancarlo sums it up:

Tmrw: web3 threads of the week 👋

Meme of the day

Stop poking the AI!

What we're reading this week