Tiffany's CryptoPunk pendants and Vitalik's thoughts on the Metaverse

Welcome back to Decentra Daily, where we bring you the latest NFT and Web3 news.

Estimated read time: 4 minutes 20 seconds

Table of Contents:

• CryptoPunk Pendants coming for a small group

• Vitalik's views on the 'Metaverse'

• Flippers Corner - High ROI wallets

• NFT drop we've got our eye on (it's cheap)

CryptoPunk Pendants

Ever dreamt of having your CryptoPunk made into a diamond-encrusted pendant? Sure you have!

For just 30 ETH, Tiffany will make 250 CryptoPunk holders a pendant featuring their character, as well as an NFT of the pendant itself (presumably to help with selling the pendant alongside the original NFT?)

Those who make the 250 will get a choice of 87 different attributes and 159 colors for their rose or yellow gold pendant.

This marks the entry of another big brand into NFTs. Tiffany's has millions of social followers, as well as high net worth customers, so this may signify another flood gate opening, as NFTs gain more legitimacy, as they permeate our everyday lives.....now in the form of jewelry.

Tiffany's is not the first jewelry maker into NFTs, smaller companies have been making jewelry out of Apes and other popular collections for a while:

What's the point?

1. If you can afford 30 ETH on a pendant, you don’t need a point

2. When it comes to collectibles, Tiffany jewelry is an equally solid investment

3. Increase the value/rarity of your CryptoPunk

4. (Sort of) compound your asset with an extra NFT

5. Flex your NFT in real life (IRL)

Find out more on the official page at 2:00 pm UTC, 08/05, when the full details drop.

Some Vitalik thoughts on the (M)etaverse

Here’s a short but interesting thread from Vitalik on current investments in metaverse tech/product.

He’s essentially saying that Meta and other corporations are choosing to skip the hard work of understanding what exactly the metaverse should look like, in favor of risking billions to produce tangible products – even if nobody may actually end up wanting or needing them down the road.

He began by replying to @DeanEigenmann, who tweeted about the gap between how people seem to naturally use metaverse-like spaces in video games, and the types of products VCs currently fund:

His main point was that, while there is a slow move towards virtual communities, current funding often veers away from the apps and environments that people naturally enjoy/want to spend time in.

Viltalik seems to agree:

That’s a pretty big statement – even with Meta’s share price dropping & a second-quarter loss of almost $3 billion.

What’s more interesting, however, is the reasoning behind Vitalik’s claim.

When longtime blogger Venkatesh Rao responded with the counterargument that the metaverse's tech and research requirements will exclude all but the biggest corporations, Vitalik elaborated:

It’s super refreshing to see one of the biggest names in web3 stay so grounded when it comes to metaverse hype, while also remaining a strong advocate for the overall concept.

Far from being ready for metaverse product design, Vitalik seems to think we haven’t even seen a real prototype metaverse yet – and further still, we don’t even know what the definition of the metaverse should be.

Good news for anyone who also struggles with the mental jump from VR headsets and open-world games to a full metaverse economy.

Flippers Corner

We've been tracking high ROI wallets, here’s what they have been purchasing recently. We do not recommend buying these projects, DYOR, as you could likely be someone’s exit liquidity.

Here's what they're buying today:

Rare Apepe YC

A derivative work of Rare Pepes and BAYC, these have been skyrocketing today. Seeing quite a few successful traders buying them up over the last few hours. Launched a few months ago without selling out, they switched to a free mint a few days ago and things took off. Maybe everyone is super excited about the mutant serum they’ll be dropping so you can create your mutant Apepe? Lol. 3,206 sales in the past 24 hours, with the floor price up over 500% to 0.247 ETH in that time span.

PARTICIPANTS NFT

These ones are hot, hot, hot right now! Very cheap so I’m seeing people buying up 20-30 at a time. Only dropped a few hours ago as a free mint, with 2,528 sales already. Abstract face art with a bit of a Pablo Picasso feel. Move quickly on this one if you’re interested.

NFT drop we've got our eye on!

Tales of Undead Love

Artist: Forlenza

Drop Mechanics: 48 hour open edition mystery box mint

Price: $100

When: August 4 @ 6:30 p.m. ET

Where: MakersPlace

Reasoning: Forlenza is ranked as one of the top NFT Artists by CryptoArt.io.

Forlenza's work is in the Museum of Crypto Art (M○C△) permanent Genesis Collection. In this Tales of Undead Love drop, Forlenza is examining the forces of love, and how they transcend life itself.

DYOR as always!

Headlines of the day

• Pearson plans to sell its textbooks as NFTs

• CryptoPunk Ethereum NFT Sales Jump 248% After Tiffany Launch

• Stablecoins Will Only Have Value on PoS Ethereum Post-Merge

Disclaimer: Nothing in this article/newsletter should be considered financial advice. The purpose is to inform readers of the current trends and news in the web3 space. We encourage every reader to do their own research and not act upon information put forth by Decentra Daily.