Note: This is not financial advice, and the views expressed in this blog do not represent the views of my firm Sfermion.
Since I just wrote about the epic Beeple art sale (where Metapurse spent $2.2m on a collection of twenty Beeple art pieces), and then Metapurse recently made some big announcements, I think it makes sense to continue this discussion. Luckily, they have been planning something way bigger than just buying up a boat-load of rare artwork.
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On Saturday, January 23rd at 6pm CST, Metapurse is launching Metapalooza.
This event is epic and can only happen within the metaverse. It is a combination of art, culture, music, community, and tokens - all taking place in different virtual worlds. I love that this event is so multifaceted and represents what this growing ecosystem is all about.
Bundle of High-Value NFTs Accessible Via B20s
To recap everything, Metapurse, an NFT fund/production company, purchased twenty 1/1 Beeple art pieces in a Nifty Gateway drop. Then, they decided to buy multiple high-value plots of land in Cryptovoxels, Decentraland, and Somnium Space. Once they acquired the land, they hired VoxelArchitects, a professional design firm based in Portugal, to build amazing virtual museums. Metapurse then put the Beeple art pieces in these structures, bundled everything together, and fractionalized ownership with a token called B20.
Now anyone can share ownership of these incredibly high-value artworks. By fractionalizing ownership of the bundle, it essentially turns the entire project into a public art installation: Metapurse no longer owns the bundle, the smart contract does. So not only is B.20 one of the first public art installations in the metaverse, but also anyone can share ownership of the public art installation. I believe this is the first time “citizens” have ever achieved upside with a piece of public art. This is all amazing and very metaverse-native, but it doesn’t stop there. What they did next turned things up a notch and will change the way projects and tokens launch in the future.
Metapurse decided that to launch the B.20 bundle they were not simply going to tweet out, “Hey, we are live and anyone can come to buy a token now.” Instead, they created an entire festival and celebration around the launch. Just check out their launch party banner!
Is this an event happening in the world of crypto or some sort of crazy party in Miami?
Not only are they having the famous DJ 3LAU play for the launch party, but also there will be several speakers, including art expert Jason Bailey, Nifty Gateway Founder Duncan Cock Foster, and artist Beeple himself! This is part party, part conference event, and part token launch, all happening within the metaverse.
This is a game-changer. This crazy event is only possible due to multiple virtual worlds, Discord (the chat app), and other digital pieces coming together. It makes me wonder why every NFT project doesn’t launch with some sort of festival, or why there have not been festivals like this in the past. In retrospect, it seems obvious that projects should want to launch their product or token with a celebration. In this case, the celebration is focused on the metaverse arts and culture scene, but this concept can be adapted to virtually any project. Perhaps if you are launching a space-related NFT game, then you can organize an event with speakers in the space industry or get someone from EVE Online (the #1 space-related game in the world) to discuss the game or industry.
I am always excited to see people change the status quo, and I have to say Metapurse has done a great job on both the asset front and event front. On the asset side, they have created an incredible bundle of NFTs, turning them into a public art installation and allowing anyone to own a piece via B20 token. On the event front, they have turned a product launch into a fun, cool, and exciting event. That is the way it should be done. Going forward, I expect to be invited to a lot more metaverse parties. 😜
Also, really quick shill: If you want to learn more about the team behind Metapurse, then check out my podcast with Metakovan, who manages Metapurse along with his good friend Twobadour.