#172 - Doodles is "no longer an NFT project" 🤔

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Today,

1. Doodles is "no longer an NFT project?" 🤔

2. Yuga Lab's The Summoning has begun 🧙‍♀️

3. DeGods on Bitcoin 🪙

4. On the wire 📰 Arbitrum airdrop and MetaMask ATH volume

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

Top 24hr collections 📈

via OpenSea

1. MAYC - 361 sales earning 5,035 ETH (86%)

2. HV-MTL - 1,061 sales earning 9,966 ETH (92%)

3. Doodles - 609 sales earning 2,258 ETH (521%)

4. Otherdeed - 804 sales earning 1,614 ETH (0.56%)

5. MG Land - 2,181 sales earning 1,358 ETH (3%)

Doodles is "no longer an NFT project?" 🤔

You heard right, folks. We thought Doodles was one the most recognizable pfp collections out there...

...Apparently, it's not even an NFT project at all.

This is Poopie – one of Doodles' founders – talking on the community Discord.

What does he mean when he says that Doodles is "no longer an NFT project?"

Probably, that Doodles has always seen mainstream adoption as its ultimate aim, which means sacrificing the needs of degens in pursuit of a broader audience of collectors.

Poopie wants to produce content that people buy because they enjoy consuming it, not because they think it will make them a millionaire.

(Some retroactive confirmation from Poopie in this tweet that Doodles will always be based on the blockchain.)

You see, kids, since the earliest days, the NFT space has been divided between those who view non-fungibles as a way to empower artists and fund creative content – and those who think of them as speculative assets to buy and sell.

Here, Doodles is coming down hard in favor of NFTs as a vehicle for art and entertainment.

A bold statement. Especially at a time when the value of Doodles is down and many in the community are voicing concerns about the ROI of aspects of the ecosystem.

The thing is, NFT projects- sorry, media franchises like Doodles exist because holders spend their time and money keeping those floor prices up. And for that, most holders expect a financial return.

The most successful projects know how to wield this dual personality, simultaneously presenting themselves as an investment and a product.

Notable Tweets ✅

On the web3 wire 📰

MetaMask is experiencing ATH volume amid TradFi's turmoil 🦊Metamask group manager Dan Finlay says that more people than ever before are moving their spare cash out of banks and into MetaMask wallets.

Arbitrum airdrop date and details revealed 🪂March 23rd is the date when up to 10,200 $ARB per person will be distributed to Arbitrum investors, users, and the community treasury. Check your eligibility to claim here or head to Bankless for more info.

The Summoning has begun 🧙‍♀️

Sewer Pass holders who ranked their passes by playing the Dookey Dash minigame can now burn their pass and summon a "Power Source."

Power Sources will reveal as one of 30,000 "Mechs" in a collection of robot warriors that Yuga is calling HVY-MTL.

(Mechs is a term usually used for a genre of anime robot)

Holders will be able to evolve their Mechs by participating in future minigames.

Don't like the plain facts? Here's a comic book version of the story so far in Yuga's Trial of Jimmy the Monkey:

What you need to know:

• There 8 types of Power Sources, distributed by Dookey Dash rank

• The floor price is currently moving between 2 and 3 ETH

• Unclaimed or invalid Sewer Passes are now held in a Yuga wallet until the next minigame

Customary technical hiccup

For a short time, some of the newly minted Power Sources showed incorrect metadata, with rare traits listed on NFTs that didn't actually have them.

Yuga was able to fix the issue within a couple of hours, but not before some unaware buyers splashed out on Power Sources with incorrect descriptions.

Like the gentlemen they are, Yuga sent the buyers ETH to cover the difference between their purchase amounts and the HV-MTL floor price.

Is it even a mint event if nothing goes wrong?

The Summoning burn will be open indefinitely.

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DeGods on Bitcoin 🪙

DeGods have become the latest NFT collection to expand its ecosystem onto the Bitcoin blockchain.

500 previously burned DeGods will be resurectred and inscribed onto ordinals. They're available first-come, first-serve for 0.444 BTC.

That's about the same price as the floor for regular DeGods on Solana. Gud deal? 🤷‍♀️

Additionally, 34 notable Ordinals DeGods will be auctioned

The first Ordinals up for sale was FrankDeGod's original pfp – "the first DeGod to ever be sent to the incinerator." It sold for 44,256 $DUST or 3.2 BTC.

How does everyone feel about Oridnals collections that borrow artwork from existing ETH projects?

We've seen Ordinals that repurpose, spin, or even directly clone ETH NFT artworks.

It can create some *interesting* questions about provenance and devaluation, in cases where similar artworks are linked to different tokens owned by different people...

Meme of the day

😂

Tomorrow: web3 threads of the week! 👋

What we're reading this week