Good News for Terrible Traders

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This Week's Low-Down:

• ⚡ Tensor Snatches the Limelight from Magic Eden's Solana NFTs

• 🚀 Globintown's Season 2 Mint Prioritizes Poor Traders

• 🖼️ Sotheby's Launches Metaverse Marketplace for Fine Digital Art

• Bitcoin Ordinal Inscriptions Hit $7.6M—Gas Fees Skyrocket (NFT Lately)

• Doodles Unites with Adidas to Invent ‘Pharrell Pack’ (NFT Lately)

• Who is ‘Mad Armani’, the Creators of Mad Lads NFT? (NFT Evening)

• LeBron James Spotted in RTFKT Nike Sneakers—Clone X NFT Holders Rejoice (Decrypt)

• Yuga Labs Onboards Epic Games Legend, Mike Seavers, as CTO (NFT Lately)

• Sports Illustrated Launches Polygon-Based NFT Ticketing Platform (Cointelegraph)

• Proof and Mona Build Moonbirds Metaverse, ‘Monaverse’ (NFT Lately)

• Polygonal Mind Debuts Amazing New Tomb Chaser Game (NFT Plazas)

• Hack Alert!! Yuga Labs CEO Daniel Alegre’s Account is Compromised, Do Not Interact! (NFT Evening)

• Blur Announces ‘Blend’, a Lending Protocol for NFTs (NFT Lately)

• ESL Esports Goes Web3 with Runiverse! (NFT Evening)

• OKX Brings Bitcoin Ordinals to its NFT Ecosystem (NFT Plazas)

Other Stuff We Dig:

• MakersPlace CTO on Connecting Creators and Collectors in Digital Fine Art (NFT Lately)

• Uncovering Nakamigos: The Origins, Rumors, and What We Know So Far (nft now)

• What Will It Really Take To Make Web3 Mainstream? (nft now)

• What are Some Ways to Avoid IP Infringements in the NFT Space? (Cointelegraph)

Trending Collections on Blur:

• Azuki [Floor Price - 15.50 ETH]

• Meebits [Floor Price - 2.28 ETH]

• DeGods [Floor Price - 8.48 ETH]

Tensor Snatches the Limelight from Magic Eden's Solana NFTs

The Solana NFT marketplace is experiencing a shift as Tensor overtakes Magic Eden in market share, fueled by the popular Mad Lads collection and trader loyalty rewards.

• Tensor recently overtook Magic Eden as the dominant NFT marketplace on the Solana network, capturing 45% of the market share.

• Mad Lads, a buzzy profile picture (PFP) collection, played a significant role in driving traffic to Tensor, as traders flocked to take advantage of its specific promotion.

• Tensor accelerated after the launch of loyalty rewards for traders, echoing Ethereum marketplace Blur's strategy that helped it overtake OpenSea.

• Tensor's raised $3 million in March and is targeting "pro" traders with a faster and richer interface compared to Magic Eden.

• The sudden rise of Tensor has intensified the rivalry between the two platforms, with both sides exchanging criticism and engaging in a war of words on social media. 👇

Globintown's Season 2 Mint Prioritizes Poor Traders

Goblintown's Season 2, Big Inc, innovatively targets the "worst traders" in the NFT market, offering them exclusive minting opportunities and discounts to celebrate their perseverance.

• Truth Labs, creator of the popular Goblintown NFT collection, is preparing to launch Season 2, called Big Inc, targeting "worst traders" in the NFT space.

• Top 1,000 worst traders will have 24 hours to mint their Big Inc acceptance letter for free; Goblintown, Grumpl, and Illuminati NFT holders will also receive special minting privileges.

• Truth Labs will analyze wallet data to rank traders on the "Down Bad Board," a leaderboard of the worst traders in the NFT space.

• Goblintown Season 2 offers a 50% discount to traders who pay with meme coin PEPE, whose market cap recently reached $502 million.

• The original Goblintown collection generated $7 million in sales when it opened in May 2022, defying standard NFT market trends.

Sotheby's Launches Metaverse Marketplace for Fine Digital Art

Sotheby's launches a curated, peer-to-peer secondary NFT marketplace on its Web3 arm, Sotheby's Metaverse, supporting direct transactions and artist royalties.

• Sotheby's Metaverse marketplace will be fully on-chain via the Ethereum and Polygon networks, accepting payments in ETH or MATIC tokens.

• Honoring artist royalties through smart contracts, the marketplace will automatically paying artists according to their chosen on-chain royalty rate.

• Moreover, the platform will feature rotating artists and launches with works from 13 prominent digital artists including Tyler Hobbs, Claire Silver, XCOPY, and Diana Sinclair.

• Since entering the NFT market in April 2021, Sotheby's has generated over $120 million in total NFT sales and facilitated several record-breaking sales.

• Get the full scope here.

Today's edition was written by Leah Alger.

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