#174 - Blue chip blues: end of an era for the biggest NFTs?

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Today,

1. Blue-chip blues - are some big NFT projects failing?

2. HustleGPT - the AI running its own web business

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

Top 24hr collections 📈

via OpenSea

1. MAYC - 189 sales earning 2,477 ETH (12%)

2. Azuki - 82 sales earning 1,108 ETH (33%)

3. BAYC - 17 sales earning 1,017 ETH (84%)

4. Doodles - 230 sales earning 861 ETH (31%)

5. Pudgy Roads - 1096 sales earning 776 ETH (166%)

Are some current blue-chip NFT projects failing?

Last week, a narrative formed on Crypto Twitter, which said that some of the most respected, recognizable NFT projects of the last couple years were entering their final days.

Which projects felt the Twitter FUD? CloneX, Doodles, Moonbirds.

Why? A melting pot of issues:

• The floor prices of these collections have been slowly decreasing

The Moonbirds floor is down 46% in the past 30 days, while Doodles is down 36% and CloneX 35%.

• At the same time, holders are voicing concerns about how these projects are managed.

Many CloneX holders worry about the sheer number of assets within the RTFKT ecosystem, while the Doodles community is digesting the news that they are apparently "no longer an NFT project."

• And a tense macro environment is pushing collectors towards the safest assets

Just like nobody wanted to be the last person to make a withdrawal at SVB, some bigger holders are pushing the eject button and consolidating into higher-value projects such as Punks and Azuki.

(Although – Punks are also experiencing the rollercoaster of volatility that comes with being the current NFT of choice for Blur airdrop farmers.)

At the end of the day, it's all about sentiment

The more dissatisfied an NFT community feels, the more pressure they put on project founders.

The more pressure founders feel to produce the goods, the more difficult it becomes to make the right decisions on content and communications.

And the downward spiral begins.

So should you sell? 🤔

If a day feels like a week in NFTs, then a week may as well be a year.

Since the idea of CloneX, Moonbirds, and Doodles dropping out of the big leagues gained traction, their floor prices seem to be leveling off.

And each of these projects continues to be backed by large, committed teams with plenty of ideas coming down the pipe.

• Doodles launched its "Sock-Piling" competition before the weekend.

• RTKFT announced another phygital Nike sneaker drop next month.

So really, it comes back to the same age-old advice:

You should hold if you support the work being done. You should take profits when you can (and if you need to). And you should never do anything because somebody in a newsletter told you to. 😂🤝

Notable Tweets ✅

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On the web3 wire 

TolyGPT can answer technical questions about the Solana blockchain 🙋‍♀️ @0xSamHogan asked GPT-4 to read the whole Solana codebase so it can answer user questions about how the validator works.

Try ModalScope, an early txt-to-video model 📹The live demo on HuggingFace gives us a preview of the next frontier of AI diffusion models.

Microsoft is building a web3 wallet for Edge 👛A wallet for Ethereum-based assets is now in test mode on MSFT's web browser.

Hustle GPT builds a website & Balaji bets BTC will moon in 90 days

Bitcoin is pumping and AI is growing up faster than a seven-year-old with a TikTok account.

As a result, activity on Crypto Twitter is picking up steam.

Here are two new attention-worthy Twitter campaigns, from @balajis and @jacksonfall.

HustleGPT

The 4th iteration of Chat-GPT arrived last week, and by all accounts, it's chattier than ever.

@jacksonfall decided to find out how much bark is behind GPT-4's bite, by telling the bot to take on the persona of "HustleGPT" and letting it control his business for the next 30 days.

He started by giving HustleGPT $100 and asked it to turn a profit: 

So what did HustleGPT decide to do?

• First, it instructed Jackson to set up an affiliate marketing website for eco-friendly products, called GreenGadgetGuru.com

• After buying a few ads and promoting sponsored tweets, ChatGPT broke even.

• Then HustleGPT made it onto CNN 😳

• Now, the bot has hired more human employees and instructed them to use ChatGPT to write articles for the site

Follow along via @jacksonfall's threads.

Disclaimer: asking Chat-GPT to run a business doesn't work for everyone.

The $1 mill Bitcoin bet

Ex-Coinbase CTO Balaji Srinivasan has also been going viral on the Bird App for making a wild claim about the price of Bitcoin – and backing it up with an equally insane bet.

What's the claim?

That 1 Bitcoin will be worth a million dollars in 90 days.

Balaji basically says the US banking system is going to collapse, causing a rush to crypto, and a ~37X jump in the price of BTC.

And the bet?

Balaji Srinivasan responded to a wager from @jdcmedlock, putting his cash where his 280-character limit is.

Is this real?

The bet seems real enough. Binance's CZ has even offered to mediate. 😂

As for whether Balaji is actually serious about Bitcoin hyperinflation ...he might be. But it's just as likely an evil genius scheme to inflate his Twitter following. 

Decentra Daily is brought to you by Xpand

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• Hand out incentives for engaging with Tweets or being part of your Discord

• Rank community members on leaderboards

• Set missions/bounties and reward completion with your native token

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• Airdrop NFTs to your followers' wallets

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Meme of the day

They would probably still be hired over me 😂

C U Tmrw! 👋

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