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🌊 OpenSea Seaport's fresh new features

Plus, Not Okay Bears gets delisted, Moonbirds airdrop, a16z's new gaming fund, a market check-in, & Drama!!

Trevor Grant

and

Andrew Steinwold

May 24, 2022

Zima Red gives readers the weekly pulse on the biggest news around NFTs. Join our community and take the journey with us by subscribing here:

📉 Market

OpenSea volume check-in

OpenSea USD volume is at the lowest level its been since August 2021

OpenSea ETH volume is at December 2021 levels

Via @punk9059

Goldman Sachs says the crypto slump has little impact on the economy

Crypto still represents a negligible portion of the average household’s net worth.

Crypto represents just 0.3% of the average household’s net worth
The total crypto market cap stands at $1.3T as the cumulative net worth of American households sits at $150T.

Representing 33% of the average American household's net worth, equities play a far larger role in spending habits. One study showed that for every $1 decline in equities drop spending drops by 3 cents. Over the last 5-months, this equates to a ~$300B reduction in consumer spending. With consumer spending accounting for 70% of US GDP, many on Wall Street are predicting that the US will soon fall into recession.

Li Jin on Magic Eden vs. OpenSea

Li Jin @ljin18

A review of what’s going on for @MagicEden vs @opensea: Magic Eden has held on to its market share despite Opensea’s Solana NFT launch last month. Not only that, but ME is now at comparable user numbers, *much* higher transaction frequency, and closing the gap in GMV with OS 👇

👤 Social & Collectibles

Not Okay Bears

Not Okay Bears, A derivative of the popular Solana-based PfP project, Okay Bears was delisted from Opensea (Most likely due to a DMCA takedown request).

Steven @Dogetoshi

OpenSea just delisted NotOkayBears and price has crashed 90%.

Derivative projects get delisted every day from OpenSea but a few things make this one special:

This time the OG was on Solana and the derivative was on Ethereum. It’s almost always the other way around.
It really sparked the Ethereum vs. Solana rivalry.
Not Okay Bears was the most traded collection on Ethereum over a 24-hour period starting on May 16th.

Moonbirds airdrops Oddities

PROOF Collective’s PfP Moonbirds airdropped Oddities to its holders.

The floor sits at ~3.8 ETH
They were designed in collaboration with Gremplin
The art will be revealed in July 2022

The number of Moonbirds listed on OpenSea dropped post airdrop - almost every other airdrop resulted in the opposite.

Several NFT project Discord servers (Moonbirds, Cool Cats, PXN) were hacked

The MEE6 Discord moderation bot was temporarily compromised, opening the door for hackers to infiltrate popular NFT servers. An employee of MEE6 briefly had their account hacked allowing attackers to use MEE6 to post unwanted messages.

Timpers launches Chimpers

Pixel artist Timpers launched Chimpers on May 20th. The floor rose to as high as 5 ETH but has since sunk back to around 2.5 ETH.

Heaven Land’s 24 hr volume surges to the top of OpenSea

Check it out

NounsDAO Prop Houses

Prop houses were launched to scale Nouns DAO ecosystem funding.

Learn more

🎮 Gaming

A16Z’s new $600M gaming fund

The fund will be led by general partners Andrew Chen, Jon Lai, and James Gwertzman. Its backers include the founders behind King, Discord, Roblox, Zynga, Twitch, Blizzard, and Riot Games.

The fund will invest in three key areas within gaming:

Game Studios
Games x Consumer
Infrastructure

Recent gaming specific funding rounds

🌎 Virtual Worlds

Voxels airdrop

Voxels @cryptovoxels

Yo voxel folk, we’ve started rolling out the $FOLK airdrop. If you’ve made a costume or bought a parcel in voxels you’ve got some $FOLK coming. yofolk.com

Decentraland stabilizes wearable publication fee

The wearable publication fee will be $500 USD instead of 500 MANA. This was done to protect creators from the volatility of MANA which would sometimes make the fee too high.

🎨Art

An Artist quadruples web2 yearly earnings with 1 NFT

A pixel artist, @jmw327, still struggling to sustain themselves through traditional web2 means, despite their 150K+ followers, decided to give NFTs a shot.

jmw327 @jmw327

probably gonna try out nfts, dont understand them or why they are controversial, but cant keep making less than 10k a year and so if there is a chance want to be able to afford healthcare and stuff, sorry if it offends you and please do whatever makes you feel comfortable

…and proceeded to 4x their yearly earnings

𝚂𝚌𝚘𝚝𝚝 𝙻Ξ𝚠𝚒𝚜 🌾 @scott_lew_is

before nfts: after nfts:

Foundation has opened up to all creators

Foundation @foundation

Now open to all. 🌐

📰 Mainstream

OpenSea launches Seaport marketplace protocol

The new marketplace protocol will bring some interesting new features:

Bundling different assets in exchange for an NFT - instead of only bidding in wETH you can bundle together different assets to make a bid (ex. bidding a 40 ETH Doodle and 60 ETH for a 100 ETH BAYC)
Bidding on specific traits from a collection
Tipping

Here is a great thread that breaks down the current Wyvern Exchange protocol