The NFT space can feel like information overload at times, so we’ve cut through the noise to deliver you a curated dose of what matters most. Your all-in-one weekly companion.
Headline News - Aave Launches Decentralized, NFT-Based Twitter Rival on Polygon
This may not necessarily constitute the biggest news in the NFT space this week, but it is certainly interesting amidst the backdrop of the ongoing Twitter acquisition by Elon Musk and co.
Lens Protocol has a modest 54k Twitter followers at present and is the creation of the team behind the well-established DeFi protocol Aave. Aave is largely known as a lending/borrowing platform, and is currently sat at number 57 on CoinGecko by market cap.
On the company website Lens Protocol is described as ‘A PERMISSIONLESS, NON-CUSTODIAL SOCIAL MEDIA PROFILE’. The following excerpt is an overview of the platform in their own words:
The purpose of the Lens Protocol is to empower creators to own the links between themselves and their community, forming a fully composable, decentralized social graph. This is achieved by allowing users to create profiles and interact with each other via these profiles. "Profile" (as used here) refers specifically to Lens profiles; "user" refers to standard crypto-wallets.
Social media platforms are one of the most powerful and influential tools in modern society. We’ve all experienced how impactful these platforms can be, for both good and bad, on huge swathes of the global population.
Those within Web3 are well aware of the drawbacks associated with the centralized nature of current social media goliaths, and it will be very interesting to see if new and innovative social media platforms are able to eat into the Web2 giants’ market share.
For a full article on Lens Protocol and links to more info, please click here.
Curated News - the best bits of the past week
BIGGEST NFT Sale: Bored Ape Yacht Club #6775 for 225ETH
Struggling Digital Artist Turns to NFTs, Goes Viral on Twitter
Emirates will accept Bitcoin payments and introduce NFT collectibles
According to Music Ally, Spotify has begun testing NFTs on its platform
Universal Music Group to Release NFTs on LimeWire’s Algorand Marketplace
DeviantArt can now notify anyone whose art’s been used in NFTs without permission
Getty Images to Launch First NFTs On Palm Through Candy Digital
Etherscan, CoinGecko warn against ongoing MetaMask phishing attacks
Maybe Something - things we’re keeping an eye on
Chimpers, a hotly anticipated PFP collection, will launch on 20th May. Price is 0.07 ETH, minting starts at 18:00 PM UTC and will last for 48 hours.
Historical Insight: CryptoPunks V1 now have their own custom marketplace on Rarible. These NFTs hold undeniable historical significance. Oh and Yuga Labs are in possession of 1,084 of them. Make your own judgements.
Cool Cats released their 2022 roadmap
World Of Women announced a new COO, ShannonSnow.eth
Coolman’s Universe announces airdrop for holders. See details here.
The Chainsmokers are planning to share royalties with their fans from their new "So Far So Good" album, via an NFT drop.
Check out Fuzzles, AI-powered NFTs that can carry on conversations about politics, dating, religion, or even crypto
Sandbox announced their 2022 roadmap and SAND airdrops to all land owners
Talking Point - “The Merge”
The underlying asset associated with most people’s NFTs is Ethereum. Therefore it’s prudent to keep abreast of any developments that might affect Ethereum prices, since it also affects the value of those NFTs.
In the coming months “The Merge” will happen. This is a huge update to how the Ethereum blockchains consensus mechanism works (i.e. how transactions are validated). The network will change from a proof-of-work to a proof-of-stake consensus.
What does this mean? In short, the major implications are as follows:
The Ethereum network will be approximately 99% more energy efficient
"Miners" will be replaced by "validators," who stake (i.e., pledge) ETH to validate and secure the network and are rewarded in ETH for doing so
ETH issuance will be reduced by roughly 90%
ETH could become deflationary if demand remains high
The Merge sets the stage for further updates which should make Ethereuem cheaper and faster to use
All positive. And what do you need to do in preparation? Absolutely nothing. Assuming everything goes to plan, there’s nothing that’s required to be done by the end user.
The Ethereum community has been working on the transition to proof-of-stake ever since the blockchain launched in 2015. “The Merge” is that milestone. I’m hopeful this upgrade only leads to further cementing Ethereum’s significance within the NFT/Web3/crypto environment.
I’m bullish Ethereum, and was so prior to being bullish NFTs. Most of my current NFT portfolio is on the Ethereum network, and it certainly helps with remaining positive in market pullbacks, knowing that my underlying asset is ETH.
For a great article on '“The Merge” please click here.
For an article published today outlining the current progress with the Ethereum update, please click here.
For a more detailed look at how the merge will work and what to expect afterwards, please click here to visit ethereum.org where you can find a wealth of information on the topic.
Tip Of The Week - You can now snipe NFTs from the activity feed on LooksRare!
A couple of weeks ago we looked at how to get an edge over other buyers on OpenSea by using the ‘Activity’ feed as a means to view newly listed NFTs earlier than those who simply buy on the main collection page.
Following on from that, we see that LooksRare has actually implemented a ‘BUY’ button directly within their ‘Activity’ feed enabling an even faster sniping opportunity. Of course it’s no secret, but you can be certain that a large proportion of users are not across such updates, and won’t be aware of its existence.
Here is their tweet from three days ago explaining the new addition:
As you can see from the tweet, they also plan to implement a ‘Refresh’ button to the feed. This is another thing missing on OpenSea, meaning you’re forced to hard refresh the page constantly to see the latest listings.
Try it out and see what you think. Happy sniping and good luck!
(Note: You cannot see the ‘BUY’ button unless your wallet is connected)
ZenAcademy and 333 Club Noticeboard
Regular Event Reminders
Join our poker nights via our Discord. Events held every weekend, with prizes to be won.
Weekly Movie Nights are going strong. This week is Harry Potter and the Deathly Hallows: Part 2. See more info here.
Reminder: As a ZenAcademy member, you get exclusive access to market health statistics and analysis updated every 12hrs. For a full rundown of how to get the most out of these charts, click here.
Irregular Events and Info
There is a great opportunity for 333 Club members to learn about and acquire a VA this week. Head into the announcement channel and find the post on 14/5/22.
Unofficial Dubai meet-up for 333 Club members between 30th May - 4th June. See Discord for more info.
They’ll be a breakfast event on Wednesday, June 22 from 9-11 am at NFT.NYC in collaboration with Curious Addys and Meta Angels communities. There will be 75 spots per community, and raffles will kick-off on 1st June, so watch out for more info in Discord.
Some new Office Hours are available in June for 333 Club members if you want to touch base with Zeneca. See Discord for more info.
We are planning an event for NFT NYC. If you are interested in attending, please join fill out this form so we can start getting organized.
We’re also planning an IRL meet up at MET Amsterdam which is taking place from the 14th-17th June. Join the chat here for more info.
A reminder to all new and old that Zeneca’s course 'How to Launch an NFT Project' is available for free for anyone holding a ZA/333 NFT. You can sign up at: https://nasacademy.com/zeneca.
The 333 Club now has an Official Twitter account. Please check it out and ‘follow’. Thanks for your support.
Nothing in this or any other ZenCaps publication should be construed as financial or investment advice. The views and opinions expressed in ZenCaps publications do not reflect those of Zeneca_33 or the ZenAcademy.
Always exercise caution within the NFT space and adhere to best practices when it comes to making any investments. There is plenty of potential, but this comes with inherent risks.
Stay safe, and as always, good luck.