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 - Yuga Labs acquires IP rights of CryptoPunks and Meebits from Larva Labs
Wow! There’s been so many exciting developments for NFTs over this past week it’s hard to know where to start. I’ll go as far as to say this goes down as one of the most bullish weeks in NFT history.
Zuckerberg announces NFTs are coming to Instagram, Yuga Labs acquire IP rights of CryptoPunks and Meebits, ApeCoin ($APE) details are released, HSBC enters The Sandbox, huge investment fund ‘Curated’ is mobilised to acquire NFTs and new Nansen analytics have revealed that NFTs are unquestionably ‘crypto’s most bullish subdivision’.
It’s a lot to take in, but it’s all positive. I’ve created links for these and many other great stories in the section below. But first, let’s look at the one that took centre stage, which has to be Yuga Labs’ acquisition of the CryptoPunk and Meebits IP rights from Larva Labs.
The fact that a young upstart collection like ‘Bored Ape Yacht Club’, created by Yuga Labs in early 2021, can rise from such humble beginnings to such incredible heights in a 12-month period is mind-bending. It showcases both the huge potential and insatiable appetite within the NFT/web3 space.
In this time, Yuga Labs managed to acquire the IP rights of what’s largely regarded as two of the most culturally significant and recognisable NFT collections in the world: ‘CryptoPunks’ and ‘Meebits’.
This is breathtakingly impressive. It’s is a clear display of their nimble business acumen, and the move has undeniably cemented them as a powerhouse in the web3/NFT environment.
With these IP rights in hand they can extend their reach into numerous commercial avenues. The ‘Bored Ape Yacht Club’ has already partnered with Hollywood super-agent Guy Oseary and have outlined their intentions to expand into the music, gaming, TV, and film industries. Watch this space!
There had long been discontent amongst CryptoPunk holders with regards to the IP rights of the NFTs. Larva Labs had been reluctant to hand over IP, commercial, and exclusive licensing rights to CryptoPunks and Meebits holders. When Yuga Labs acquired the IP rights, the first thing they did was empower holders with these rights.
For a great article outlining why Larva Labs decided to part ways with such a prominent status symbol in the NFT space, please read here.
Despite the general excitement around the recent acquisition, there was some backlash for Yuga Labs with regards to the under wraps KYC-restricted project, in collaboration with Animoca Brands.
KYC is a sensitive topic in a questionably decentralized landscape. Some argue that for true adoption to happen KYC has an inevitable part to play. Others heavily oppose the idea. For a more detailed look at this story, please click here.
Curated News - the best of the past week
A Nansen report indicates that NFTs could be a safe haven from volatile cryptocurrencies
Metaverse Banking: HSBC Enters The Sandbox as JPMorgan Tests Decentraland
NFT Fund ‘Curated’ readies $30M to acquire NFTs ‘with cultural or historical significance’
Proposal to Limit Proof-of-Work Is Rejected in EU Parliament Vote
Solana NFT Marketplace Magic Eden Raises Paradigm-Led $27M Series A
Maybe Something - things we’re keeping an eye on
Gutter Juice (Zen DYOR Pick) - The Gutter Cat Gang is one of the OG PFP collections with a passionate community. The new Gutter Juice collection is a great opportunity to get exposure to this ecosystem. Check it out here.
Nuclear Nerds of the Accidental Apocalypse (Zen DYOR Pick) - The project has a strong focus on story telling and world building which is becoming increasingly more important and valuable. Check out the collection here.
With the DCMA issue dropped by Yuga Labs, V1 Punks are primed to surge
Meebits now represent the cheapest entry point into the Yuga Labs ecosystem
CyberKongz have announced their new Play & Kollect is live after initial delays
World Of Women Galaxy Holders Will Also Be Included in DAWOW
Talking Point - Going to the Movies
With all this talk of IP rights, let’s have a little look at where it all leads. One of the most exciting areas in this space (although I have to admit, there are no dull ones) is the intersection between NFTs and film/TV.
I’ve grown up with film and TV as a large part of my life. I’ve enjoyed it immensely, and although I’ve written the odd short film for my own pleasure, i’ve largely experienced the medium as an observer.
It was relatively recently that I remember a pang of excitement when I heard one of my favourite TV shows, ‘Black Mirror’, had an interactive episode allowing the viewer to dictate the flow of the storyline. It was an interesting concept, but largely uninspiring in practice. There were (understandably) a very limited number of outcomes to explore. But what’s coming is way more exciting.
Take a step back from alternative endings, and start at the creation point. Instead of simply getting to choose one of several predetermined paths, you get create the paths yourself. This is what’s happening at the crossroads of NFTs and film/TV. The NFT holders of certain projects will be at the leading edge of story development and fans will be able to participate in the growth and expansion of their chosen IP.
This is such an exciting time. In thriving communities, you’ll be able to participate in conversations that shape the direction of that collection in the medium of film and TV (not to mention gaming and music too). You could find that your suggestion for a certain storyline, colour scheme or clothing idea may be taken on board by the community and translated into the big screen.
The sense of excitement that you can participate in projects of these magnitudes and see real-world outcomes on such a grand scale is something few of us would ever have had the privilege of experiencing up until this point.
This is an area i’m super interested in participating in, and I’m already on the lookout for a project I think I can contribute to in a meaningful way through writing. But it’s not only writers of course. Projects transitioning into this market will need a huge wealth of resources to pull it off, and from what i’ve seen so far, they’ll look to the community first. So put your hand up, don’t be shy and get involved. There’s so much potential to be explored and this is only the beginning.
Here’s a cool article on the topic, which provides insight into which projects are currently eyeing Hollywood. There’s already some big players involved. You can be involved too.
Top 5 NFT Sales of the past week
Bored Ape Yacht Club #9135 (216.69 WETH or approx. $599.89k)
Number 3 - Decentraland (250k MANA or approx. $595k)
V1 Punk #2140 (214 ETH or approx. $550.63k)
El Estado de Libertad - Decentraland (210k MANA or approx. $499.8k)
Bored Ape Yacht Club #4988 (180 ETH or approx. $466.07k)
Note: The above list is in descending order of ETH/WETH value. This is not necessarily true of the USD value due to ETH/USD fluctuates throughout the week
Tip Of The Week - Never miss another drop
As we so often discuss, the NFT space moves at lightning speed, and it’s genuinely hard to keep abreast of everything. To combat this, we see more and more NFT tools come to market, helping us cut through the noise. One such tool is ‘NFT Calendar by Islands’.
Although one of the riskier sectors within the NFT space, minting new projects still draws in huge numbers since the risk reward equation can be extremely appealing to certain types of investor.
However, it’s hard to keep track of everything being minted as the market gets flooded with new projects. This is where ‘NFT Calendar’ comes in.
It’s a community-driven project, most active within Discord, but also with a great Twitter setup. They describe themselves as ‘your friendly curated NFT calendar with all the juicy information to help prepare you for upcoming drops’.
It’s a convenient place to go and browse what projects are launching in the upcoming week. They provide the following info at a glance:
Project Name
Project Category
Drop Type (public, private, auction etc.)
Short Project Overview
Launch Time & Date
Launch Price & Currency
Supply Details
Links to Socials
Option to add to Google Calendar
If you’re interested in minting opportunities and are finding it a struggle with regards to where to focus your attention, this can be a great start. It can save you time, and ultimately money. Check our their Twitter account here, or visit their website here.
ZenAcademy and 333 Club Noticeboard
Regular Event Reminders
Join our poker nights via our Discord. Events held every Saturday 10pm GMT, with prizes to be won.
Join our weekly community initiative Weekly Creative Prompts! Find our more in our Discord by clicking here.
Our Book Club has started up, with Ready Player One being the first to be read. Join in on the discussions 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.
Check out our Sports Chat channel in Discord. If that’s your thing, jump in here.
Irregular Events and Info
NFT Wiki Project has kicked off in Discord. Get involved!
Zeneca’s course on 'How to Launch an NFT Project' is now available for purchase at https://nasacademy.com/zeneca. This will be free for anyone that holds a ZA Genesis or 333 Club NFT (access will be given closer to when the course goes live in early April).
Catch up with the 2nd ZenTalks where Zeneca talks Intellectual Property in Web3 w/ Omri Bouton.
The last 55 spots in the exclusive ‘333 Club’ will be allocated to the lucky applicants in the next couple of weeks.
333 members, don’t forget to ‘get-a-role’ in Discord. It’s a neat new addition whereby you can signal what you do in this space.
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.