Metaversal is a Bankless newsletter for weekly level-ups on NFTs, virtual worlds, & more!
Dear Bankless Nation,
The big news in NFT land right now? OpenSea just announced new changes to its creator fees policy.
In short, OpenSea is doubling down on optional NFT royalties.
Many NFT creatives have blasted the move, while others have said this kind of pivoting is inevitable.
The situation is rather confusing though, so next week I’ll be doing a full write-up that’ll cover all the basics here and the main critical and contrarian takes in play.
Be on the lookout for that post, but in the meantime thanks for reading this weekly recap and as always have a great weekend ✌️
-WMP
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Over the past week, the floor-based market cap of the NFT space declined from 8.59 million ETH to 7.54 million ETH for a 12.22% drop 📉
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Jan Robert Leegte has been a pioneer in internet art for over two decades. In the context of NFTs, you may recall his Art Blocks release Windows, but his works have also been featured in major institutions like Centre Pompidou. He makes art about software, exploring its magic and nuances, and one of his latest creations is Coin. This “exploration of interface culture” is a series of onchain SVGs available in five materials, from Bronze to Void, and freely mintable starting today via mint.fun across Ethereum, Base, Optimism, or Zora Network!
1. Fangting on onchain storytelling 📝
2. S4mmy.eth on trading Pokemon cards on Polygon 🔄
3. Rainy Reece on Draft Kings’ NFT sales 📈
This isn’t so much a tool as it is a timely and helpful resource. But with OpenSea’s axing of its unilateral Operator Filter system, many NFTers are as confused as ever about the NFT royalties landscape. Toward this end, software engineer Cygaar just put together an awesome, concise cheatsheet that shows you exactly where the top NFT marketplaces currently stand here. Use this to help wrap your head around the current situation.
A Bankless Citizen ⚑ turned $264 into $6,077 last year. A 22x ROI 🚀 in a bear market!
The web3 ecosystem is an expansive world, full of endless opportunities for those curious enough to explore them! Head over to MetaMask Portfolio to get started, where you can view your assets in one place and discover other features such as Buy, Swap, Bridge, and Stake.
Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.
