NFT Equity Offerings

NFT projects offer equity, Solana's ETH gas solution, and Mickey Mouse's NFT frenzy.

Author

Leah Alger
January 04, 2024

This Week's Low-Down:

  • 🔗A Pair of NFT Projects Grant Equity to Their NFT Holders

  • 🔥Ethereum Users Embrace Solana's Gas Fee Solution ‘$LFG’

  • 🐭 ‘Steamboat Willie’ Mickey Mouse Ignites NFT Frenzy

What's Happening Header

  • Bitcoin (BTC) Surpasses $45,000 for the First Time in Two Years (Bitcolumnist)

  • IRS Law Mandates Reporting Crypto Trades – Do NFTs Count? (NFT Plazas)

  • Crypto Crystal Ball 2024: Are NFTs Dead—Or Reborn? (Decrypt)

  • A Guide To NodeMonkes: 10K Pixelated Ordinals Explained (nft now)

  • Bitcoin & Friends Will Launch $150,000 NFT Treasure Hunt in January 2024 (Bitcolumnist)

  • Korean Gaming Firm Wemade Owes $41M in Taxes After Launching $100M Web3 Fund (Cointelegraph)

  • Pudgy Penguins’ Remarkable Journey of Growth in 2023 (NFT Plazas)

  • How To Get Started With the Manta Network Airdrop (nft now)

  • The Future of NFTs is Bright, Says RARI Foundation Strategy Head (Cointelegraph)

  • Solana NFTs Overtake Ethereum Assets in a Historic First (NFT Plazas)

  • Exclusive: Nifty Island’s Founder Wants You To Build An Island Paradise — And Earn (nft now)

  • Bitcoin NFTs Sealed 2023 with Record-Breaking Sales (NFT Plazas)

Trending Collections on OpenSea:

NFT collections "The Plague" and "Rektguy" recently unveiled their intentions to distribute company equity among their NFT holders during the holiday season.

Now, both NFT projects are excited to announce the recipients who will receive equity in their respective companies.

  • The move raises legal and regulatory questions, but the founders claim it is legal as the shares are not sold and holders did not expect equity when purchasing NFTs.

  • Rektguy co-founder Ovie Faruq stated that the equity distribution is a gift to collectors who supported Rektguy as an art project, and trading the NFTs will not transfer equity.

  • Both NFT collections have seen substantial sales volumes, with The Plague exceeding $7 million and Rektguy over $28 million in all-time sales.

  • Community members are divided on the significance of these moves, with legal experts suggesting it may be legal under certain circumstances and discussions about potential applications beyond NFTs.

    Ethereum Users Embrace Solana's Gas Fee Solution ‘$LFG’

An anonymous team of developers launched the $LFG token on Solana on January 1, 2024, targeting Ethereum users frustrated with high gas fees.

  • $LFG, which stands for Less Fees & Gas (not Let’s G*****g Go), was distributed to Ethereum addresses that had spent over $4,269 on gas since 2016.

  • Around 387,000 Ethereum addresses are eligible for the $LFG claim, requiring users to sign a gasless signature with their ETH wallet and provide a Solana wallet address.

  • The token's value has seen significant growth already, trading at $.00006, up over 10x within 24 hours.

  • $LFG bridged $35 million from ETH to Solana in just 24 hours, demonstrating strong interest and potential for Ethereum users to transition to Solana's network.

‘Steamboat Willie’ Mickey Mouse Ignites NFT Frenzy

"Steamboat Willie”, the 1928 short film featuring early Mickey and Minnie Mouse versions, entered the U.S. public domain on January 1, 2023.

  • This move sparked a surge in Steamboat Willie NFTs and meme tokens, capitalizing on creative freedom without copyright restrictions.

  • A Manifold edition NFT depicting Mickey at his steamboat's wheel was minted for 0.001 ETH and promptly sold out on January 1.

  • The edition reached high trade volumes, topping OpenSea's chart, with over 611 ETH traded and a peak floor price of 0.4 ETH.

  • NFT artists and creators celebrated this milestone, emphasizing its significance in promoting creative possibilities and artistic innovation in the blockchain community.

Today's edition was written by Leah Alger