🥛NFT Saturday Round Up 🎁
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Hello everyone, this is TPan, friend of Milk Man. Our cardboard-shaped friend is busy watching cartoons on Saturday morning, so I fill in.
Here’s what we got today:
- NFT’s top movers of the week 📊
- Louis Vuitton launches NFT collection 👀
- The Snowfros way of making Squiggles 💰
- Metadata: What is it and why does it matter? 🤔
Here were this week’s top movers:
- Azuki (+66% sales): Volume increased for the anime-styled collection in anticipation of the Follow The Rabbit event later this month in Las Vegas.
- DeGods (+87% sales): The floor price rose to 9.7 ETH when Frank shared details about those[id] identity platform.
- XTREME PIXELS ($1.9 million in sales): The new collection launched as a free coin by FAHQ (pronounced f*ck you), a new streetwear and skateboard brand.
LOUIS VUITTON LAUNCHES NFT COLLECTION 👀
Everyone was talking about one thing this week: Louis Vuitton’s new Treasure Trunks NFT collection.
What do we know about the collection so far?
- Each of these NFTs will be priced at €39,000, or about $42,000
- The supply will be ‘several hundred’
- Treasure Trunks will be soul bound tokensmeaning they will be tied to the wallet that buys NFT
- Each of these Treasure Trunks will comes with a specially made physical twin
Phew, this isn’t it just an expensive digital collectible.
What will be interesting is that holders of Treasure Trunks will periodically have the option to purchase keys. Each of these keys provides access to never-before-seen Louis Vuitton designs, as well as their physical counterparts.
The first release of the collection will be released later this month in collaboration with Pharrell, LV’s menswear creative director.
Why does this matter?
Fashion has been one of the more practical uses for NFTs, and many fashion brands are exploring how the digital can augment the physical. Louis Vuitton’s parent company, LVMH, has explored crypto and NFT with its family of brands:
The price tag may be high, but luxury brands understand how to combine exclusivity to make it worth the price. In the meantime, I’ll be looking for spare change under Milk Man’s couch cushions.
If you want to learn more about the partnership, I write about it in more detail here.
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THE SNOWFROS WAY TO COIN SQUIGGLES💰
Squiggles have been one of the most popular generative art collections as NFTs took off. The collection of colorful lines was first minted in November 2020 with a total supply of 10,000, but the collection was not minted.
Snowfro, founder of the generative art platform Art Blocks and Squiggles is on a mission to impress the rest of the collection.
How will he do it?
There are currently 9,791 Squiggles, meaning there are only 209 Squiggles left to mint.
Why is this interesting?
Often, the success of an NFT project means that it must be designed. However, Squiggles has taken a different approach to art collecting through building community and sharing the story behind the collection. Now Snowfro and Squiggles are in a position to make an even bigger impact with charity efforts and museum partnerships.
Oh, and I forgot to mention… if you want to grab one of these things it will only cost 20 grand. It’s only half the price of a Louis Vuitton Trunk, what a steal!
METADATA: WHAT IS IT AND WHY DOES IT MATTER? 🤔
Our friend 0xKofi shared a tweet the other day metadata and why it is important.
What is metadata?
Metadata is the information linked to an NFT. Some examples of this are name, description, transaction history and properties. Pretty important.
How can metadata be stored?
- Centralized servers: AWS, for example
- IPFS: A decentralized media protocol that leads to a link that stores the data
- Arweave: A permanent and decentralized storage mechanism
- On the chain: Ol’ reliable
The risk of hosting metadata on centralized servers is obvious. If a project forgets to pay its bills, puff!
On the other hand, on-chain metadata storage is the most secure method of data storage, and the most expensive.
Kofi’s point is that you should be aware of how the metadata on JPEGs you own is stored. It’s unlikely, but no one wants to be in a situation like this:
Warner Bros. selling 1978 ‘Superman’ NFT movie packs. Talk about a blast from the past.
RTFKT sign with CAA. NFT’s 🤝 Creative agencies
Fidenza #545 Sold for 625 ETH ($1.2 million). Wowza…
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Be careful and do your own research.Saturd