Metaversal is bankless newsletter For weekly level-ups in NFTs, virtual worlds and more!
Dear country without banks
Bear market? Bull market?I like it more goose market.
How it felt this week at Sotheby’s 3AC bankruptcy auction when the NFTs of the defunct trading firm, including the legendary Dmitri Cerniak, were put up for sale Ringer #879 — aka “The Goose” — was auctioned off to bidders.
Goose, the centerpiece of the event, ended up selling for a whopping $5.4 million, well above estimates, sending many in the NFT industry into a frenzy.
This is a step forward in Czerniak’s artistic journey (What Metaversal Readers Saw for the First Time in February 2021) but also a quantum leap forward for feature-length generative art + NFT as a viable medium for such art. Cheers to these milestones!
As always, thank you for reading. Let’s go to the weekly roundup. Have a nice weekend everyone ✌️
-WMP
PS Crypto and NFT Fraud Investigator ZachXBT, “A very positive impact on this industryhas been sued over its research. Do you support free speech and critical debate? Learn more about. Consider donating his ETH or stables to his legal endeavors..i am participating in it 500 USDcontains a bunless. for $25,000anything helps — let’s unite to protect Zack!
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Over the past week, floor-based market cap of NFT space has increased from 7.65 million ETH 7.81 million Ethereum, rose 2.1%. Interestingly, this modest growth was driven by his ETH price, which currently trades at around US$1,720, fell by more than 6% over the same period. In other words, broadly speaking, the recent ETH selling pressure does not appear to have had much impact on the NFT market.
The dark side of cryptocurrencies is getting out of hand… remember the first bankless crypto war Did the open version come back on 4/20? block the line, the next day’s live. If you want to get your hands on this follow-up mint, be sure to grab it before we close tomorrow at 1:30 PM EST. Mint price is 0.0069 ETH per piece.
1. 6529 upon goose 🦢
2. Mand upon Update Degenz Pro 📊
3. Adam McBride upon cursed ordinal 🎃
did you know?can be used vote with reason The ability to get a voice in the noun DAO without actually owning the noun NFT. Your votes are not counted this way, but your comments are recorded on-chain.It’s a great way to get involved in noun communities in an accessible way, and was built by Wilson Cusack voter.wtf As a resource to allow noun-owners and non-noun-owners alike to vote and comment on current proposals before the noun DAO. See how easy it is to use here.
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WMP:
How did you first become involved with crypto art and NFTs?
Crispin:
In 2015, I created a sculpture called “Self-Contained Investment Module and Contingency Package”. It consisted of a bitcoin mining ASIC computer surrounded by dry food and water filters and survival equipment. The idea is sort of a bet that artwork will get value, bitcoin will get value, or society will collapse and sculpture will help you stay alive. That’s what it means. I sold my work but lost the bitcoins I mined so I see artists like Mario Klingemann involved in minting super rares and curator Kenny Schacter involved in cryptocurrencies through the end of 2020 was moving away from That was the tipping point for me that before the wild beeple dropped, there was something going on and I needed to get more involved.
WMP:
Regarding your experience as an artist working with NFTs, what do you think the rise of NFTs bodes for the future of art?
Crispin:
Digital art and content in general have value, but until recently we lacked a good system to express that value. Younger generations growing up online place a lot of value on digital experiences and digital objects. As they get older, I think NFTs can become a very normal and obvious part of life and become less controversial.
WMP:
Tell us about this new conceptual project you coded, Fake Market Cap, ticker symbol $CAP. What inspired you to create meme coins as an artistic expression?
Crispin:
CAP is a memetic coin with a fixed supply, but the reported supply increases each time it is traded. As such, the market capitalization will grow beyond ETH, BTC, the US economy, the global economy, and the number of stars in the universe.it’s part of me not audited An experimental smart contract that subverts expectations through series, innovation or absurdity. Actually, the reason I wanted to make his CAP was because I was recently scammed with a coin that I could buy for the first time but didn’t sell. I watched their code carefully and tried to turn my frustration and his FOMO into something positive.Similar to my experimental NFT collection Wiedesin that regard, CAP destroys the meaning of cryptocurrency systems that use the medium of economic transactions.
WMP:
What would you like people to learn from the $CAP project?
Crispin:
I hope that people will start making more experimental coins and using smart contracts as an artistic medium. Conceptual art has a long history of questioning how to allocate value, and cryptocurrency leaves room for more introspection.
WMP:
what’s next? Do you have an upcoming project you can share with us?
Crispin:
I have a project that will be released on Art Blocks in the summer. prosper. An algorithm architect’s sketchbook. Inspired by architectural drawings from the late 1800s and early 1900s. prosper It’s like an alternate timeline for architecture, taking that aesthetic and automating it with a logical system that structures shapes like a language.
William M. Peester is the creator of metaversal — Bankless newsletter focused on the emergence of NFTs in the crypto economy. He is also a senior writer for Bankless’s flagship newsletter.
Unbanked citizens ⚑ went from $264 to $6,077 last year. In a bear market he has a 22x ROI 🚀!
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