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"Listen, kid, I'm not the kind of dad who, you know, does things, or says stuff or looks at ya. But the love is there! I'm too busy with NFTs and crypto." Welcome back to Decentra Daily.
Market sentiment analysis: Another boring day in the world of crypto and NFTs, unless you're in NY doing body shots off of other middle aged men. BTC is sitting at $20,500 USD, and Ethereum is at $1,115 USD at the time of writing. Our NFT blue chip indicator of BAYC is sitting at 86 Eth, just under $100k. There has been %21 less volume on OpenSea over these past 24 hours, probably due to the fact the only people that still had money to buy NFTs spent their last dollars on airfare and accommodation for NFT NYC.
Estimated read time: 2 minutes 20 seconds
Uniswap purchases Genie
Winner and losers
Uniswap dreams of Genie
We don't know how much Uniswap purchased genie.xyz for, but we can guess it's a lot. Probably more than every single NFT combined in this market.
For those of you that don't know, Genie (do I capitalize that? I don't know/don't care) is an NFT marketplace aggregator - meaning it combines all major marketplaces like OpenSea, Looksrare etc., where you can make NFT purchases either individually, or in bulk.
Genie was founded in 2021, so it's still just a baby, but an expensive one....you ever see Bling Empire? Think those kids.
Uniswap is the largest decentralized exchange (or DEX) for crypto, utilizing the Ethereum blockchain. Meaning there is no intermediary involved in crypto trades (e.g., Binance, Coinbase).
The acquisition of Genie by Uniswap was announced via blog post on the Uniswap website. It appears the they are aiming to make quite the splash in the NFT space, here's a bit of what they said:
"NFTs will be integrated into our products, starting with the Uniswap web app, where soon you’ll be able to buy and sell NFTs across all major marketplaces. We’ll also integrate NFTs into our developer APIs and widgets, making Uniswap a comprehensive platform for users and builders in web3."
Quite exciting if you ask me! Not so exciting if you're Bill Gates and don't understand emerging tech......"640K ought to be enough for anybody."
Uniswap has spent years on DeFi development, so it will be exciting to see how they contribute to the space moving forward, hopefully bringing fresh ideas, and some of their crypto user-base over to the 'dark side'.
This is Dave - 23 year old NFT trader
OpenSea recently acquired Genie's competitor, Gem. Which you can read about here. Another NFT aggregator, so the arms race is on!
Genie has a lifetime total of 123,590 transactions worth 151,207 Eth at the time of writing. That is a lot of being a year old.
USDC Airdrop
This is a nice first act from Uniswap. They will be airdropping USDC to anyone that has used Genie at least once before April the 15th 2022, or who holds a Genie Genesis NFT.
So if you've used Genie, get ready for your summer stimmy! Nice try inflation, recession, The Fed, war, Covid, China....we'll be eating dinner this month thanks to Uniswap.
Winner and Losers
The projects that have stood out to us the most in the past 24 hours, the good, and bad.
Winner: RR/BAYC - Floor price up 198% in the last 24 hours (0.218 ETH → 0.65 ETH)
Oh boy. So if you haven’t heard about this drama, Ryder Ripps is on a rampage against the BAYC/Yuga Labs team. He has made claims that Bored Apes are racist, with a website detailing his claims. We’re not getting involved in this mess. Ryder Ripps did create an almost complete copy of Bored Apes, and sold them for 0.15 ETH initially. These things actually ended up shooting up recently, hitting a high of 1.23 ETH yesterday. They’re trending down again, but still way up from 2 days ago. Handle with care.
Loser: Pablos.lol - Floor Price down 31% in the last 24 hours (0.166 ETH → 0.115 ETH)
Been watching this one for a minute, weird potato head childish drawing style PFP project, which is oddly captivating? Can’t put my finger on why. While the floor price has been trending up for the past two weeks, it took a bit of a hit this past 24 hours. It trends up and down so might be a buying opportunity? (NOT FINANCIAL ADVICE!!!)
Headlines of the day
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.