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 - OpenSea Confirms It Will Start Listing Solana NFTs in April
OpenSea finally confirmed it will list Solana NFTs on its platform in April 2022. They released a short trailer on their Twitter account which made light of the constant barrage of questions they’ve faced regarding this matter.
The news excited existing Solana NFT holders. It also piqued investor interest as they looked to front-run the integration by buying up Solana NFTs prior to the OpenSea listings. In response to the announcement, NFT trading on Solana rose by 80%.
This flurry of activity led to floor prices surging across the board, but in particular in popular collections such as 'Solana Monkey Business’ and ‘Degen Ape Academy’.
There were numerous comments on CT (Crypto Twitter) with regards to the news. Big accounts stated their intentions to sweep the floor of Solana NFT collections. In one such instance DeadBubble.eth stated ‘I am investing $180k/1600 $SOL to sweep following Solana NFT floors’, and attached a link to his account where people could see his purchases.
The news is certainly exciting and enables users to purchase a whole new ecosystem of NFTs at a fraction of the transaction costs associated with those native to the Ethereum blockchain.
This integration, on top of the hotly anticipated CoinbaseNFT launch, provides creators with a huge increase in visibility to potential buyers, as well as improving the ease with which those buyers can make purchases. It’s a win win scenario for all.
For a more detailed rundown on the initial story, please click here.
For a closer look at the resulting impact on the Solana NFT sales volumes, please click here.
Also, in case you missed this, please make sure you have updated your Chrome Browser. An exploit was discovered and 3.2 Billion users were at risk. Security is so important in this space and we’ll always try to convey any potential risks to our readers. That said, we’re a weekly publication and these things need attention immediately, so keep an eye out for info elsewhere. For more details on how to ensure you’re not at risk please click here.
Curated News - the best of the past week
Artist XCOPY Made $23 million In 10 Minutes With His Open Edition NFT
Young Artist Nyla Hayes Announces Long Neckie Kids NFT Collection
Hackers Steal About $600 Million in One of the Biggest Crypto Heists
VISA launches program to help creators build their business with NFTs
NFTs are changing the way photographers create and market content
Nifty Gateway partners with Samsung to develop smart TV NFT platform
Maybe Something - things we’re keeping an eye on
Martian Premier League (Zen DYOR Pick) - Read Zeneca’s thread here on why he’s bullish on MPL.
Blitmaps (Zen DYOR Pick) - a Community crafted sci-fantasy universe. Zeneca considers this one of the greatest projects he has ever seen. Check out the collection here.
WWE Signs Deal to Launch NFTs Through Fanatics’ Candy Digital
Batman NFTs Coming to Ethereum via Palm With Planned Metaverse Perks
World of Women Galaxy represents a nice entry into an established ecosystem
Silk Road Founder Ross Ulbricht Is Releasing Another NFT Collection
Delphi Media’s Bullish case for Music NFTs: YouTube Video here (5mins)
Megaspaces Twitter Space With NFT Industry’s Top Artists Starts TODAY
New Talent: Alfred Minnaar is an international award-winning photographer who’s just launched his first NFT collection on Foundation. Check it out here
Talking Point - What is cc0 and how does it affect NFTs?
This, amongst other things, is the topic of Zeneca’s recent newsletter, so for those who want a deeper dive into the intricacies of it all, please click here.
What does cc0 mean?
cc0 stands for ‘Commons Creative Zero’ and refers to a type of copyright attributed to a work. When a creator or subsequent owner applies cc0 to their work it is no longer theirs in any meaningful sense under copyright law. They essentially relinquish all copyright to the piece of work and dedicate those rights to the public domain, for profit or otherwise.
How does cc0 relate to NFTs?
To date, there’s been varying ways in which projects have dealt with IP (intellectual property) rights of NFTs. Below are the three most commonplace frameworks.
The creators of the NFT collection own the IP rights and grant the NFT owners full commercial rights
The creators of the NFT collection own the IP rights and grant the NFT owners limited use rights
The creators of the NFT collection waive all IP rights and apply cc0 to their work
By applying cc0 to an NFT collection, any image in that collection can be used by anyone in the public domain for any purpose they wish. This includes for commercial purposes. People can reproduce it or adapt it in any form they see fit, and they can create profits from selling these derivatives. That said, if you own the original NFT, you are still the sole proprietor of that individual and unique asset.
If someone uses your image and raises its profile in the public domain, you may well benefit from an increase in its value. In contrast, someone may use it for reasons that don’t align with your personal desires. This may not be to your liking and could potentially lead to a decrease in its value.
NFTs + CC0 = open-source intellectual property
There are strong arguments, depending on your outlook, both for and against the cc0 option (which are explored in Zeneca’s article), but the important thing is to understand what it means, and be aware of whether a collection you’re interested in investing in, falls under this category or not. It may well affect the collection price over time.
Now you have a base understanding of what cc0 is and how it relates to NFTs, check out the list below of current NFT collections exercising their right to apply cc0 to their work.
CrypToadz
NounsDAO
Blitmaps
Loot
Timeless by Treeverse
Chain Runners
Mfers
Crypts And Caverns
Terraforms by Mathcastles
Choosing the cc0 option opens up a world of potential when it comes to community initiatives helping drive a collection forward. However, not everyone is keen on the idea. Some feel it flies in the face of core values around the concept of “owning” a non-fungible token and the assets associated IP. Certain parties put a high value on this attribute.
NFT collections will have certain strengths and weaknesses in accordance with their choice to apply cc0 or not. Just make sure you know what the situation is before you buy. It’ll certainly be interesting to see how NFT communities and the public make use of collections with cc0 applied.
Top 5 NFT Sales of the past week
Azuki #9605 (420.7 ETH or approx. $1.42M)
Fidenza #692 (320 ETH or approx. $993.47k)
CryptoPunk #7971 (235 ETH or approx. $733.45k)
CryptoPunk #4985 (217 ETH or approx. $731.894k)
Bored Ape Yacht Club #4874 (200 ETH or approx. $679.69k)
Note: The above list is in descending order of USD value. This is not necessarily true of the ETH/WETH value due to ETH/USD fluctuates throughout the week.
Tip Of The Week - Front-run Solana NFTs on OpenSea
With all the excitement around the upcoming addition of Solana NFTs to OpenSea, there is opportunity.
In the same vain that everyone is excited about CoinbaseNFT launching as it’ll provide millions more users easy access to NFT collections, and therefore likely pump prices, the same is true of Solana NFTs heading to OpenSea.
Therefore, if you can own those NFTs prior to them being purchasable on OpenSea, you’ll likely (not definitely) see an appreciation in price once they list there.
“Smart money” has been doing just this. There has been a flurry of activity in Solana NFT marketplaces as people scramble to allocate funds to the bigger NFT collections in anticipation of them having a pump once they list on OpenSea.
You can get in on the action by doing the same. Check out the these two websites for info on Solana NFT collections:
And use either of these two marketplaces to make purchases:
These are some of the most well-established pfp collections:
Solana Monkey Business
Degen Ape Academy
Aurory
Thugbirdz
DeGods
It will be interesting to see how this plays out and whether certain Solana collections can challenge their Ethereum counterparts. Judging by some of the existing floor prices, it’s not inconceivable.
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 out more in our Discord by clicking here.
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Weekly Movie Nights are happening. Last one was a lot of fun. Join this week for Harry Potter And The Prisoner of Azkaban @ Friday, 1 April 2022 01:00 UTC
Irregular Events and Info
Zeneca’s newest Newsletter is now available here: ‘Letter 26: On cc0, Intellectual Property, and NFTs’
Check out ZenTalks #3: System optimization for long-term success w/ Luke Filer from iGen Entrepreneurs (YouTube video)
Check out ZenTalks #4: DeFi & Yield Farming w/ SauShank_ (YouTube video)
There will be an AMA with MultiverseVM @ Thursday, 31 March 2022 3pm UTC. This will be taking place on the Zen Lounge Stage and more information can be found by clicking here.
The inaugural Book Club meeting to discuss Ready Player One will be taking place @ Thursday, 31st March 2022 at 10pm UTC.
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).
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.