NFT Review 88 - $50M meme coin created by artist using AI
NFT Review 88 - $50M meme coin created by artist using AI
Blur launches NFT lending, Lebron spotted with RKFKT sneakers, Adidas release digital clothes, and more.
NFT Review is a weekly newsletter covering NFTs in the Web3 ecosystem on Polkadot’s side of the woods. The newsletter is put together by Bruno Škvorc and gbaci.
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Looking for a primer on NFTs? This should be the last introduction you’ll ever need.
Dear NFT enthusiast,
Anything can happen in Web3. In fact, one of the most alluring aspects of the crypto and NFT space is its Wild West-like nature; play your cards right, and you might stumble into generational wealth in a way that just isn’t possible anywhere else. And while scams, fraud, and ruin certainly rank among the seemingly endless possibilities the space has to offer, it’s important to remember that innovation and even altruism do, too.
One of the more encouraging stories Web3 has seen in the last few days is the rise of $TURBO, a meme cryptocurrency created as both an experiment and piece of performance art by artist Rhett Dashwood (AKA Mankind). Mankind, a Sotheby’s-selling OG crypto artist whose work often depicts ethereal and otherworldly scenes and figures covered in saturated colors, started the project (with a Tweet) with the hope of drawing eyes to his NFTs and gaining some sales.
What makes $TURBO's story truly interesting is that Mankind used ChatGPT, an AI language model, to create the coin with a budget of just $69 and no experience in coding or creating a coin to speak of. ChatGPT suggested names for the coin, provided input on the mascot image and backstory, and even helped write the smart contract.
Despite a failed launch, Mankind didn't give up on the project. He turned to crowdfunding with ChatGPT's help, renamed the coin Turbo ($TURBO), and reserved the majority of the tokens for the community. In the first 48 hours of the new version of $TURBO, the coin reached a $1 million market cap, and it's continuing to gain popularity. The project is a great example of how innovation and experimentation can lead to unexpected good in the NFT and crypto space.
Thank you for reading and have a great week.
— NFT Review
📬 NFT News from Kusama & Polkadot
Vatreni, Croatian National Teams' blockchain project, announced a partnership with RMRK.
RMRK published a thread on Nestable NFTs.
Moonsama announced that Beat Pressure, a game that allows you to listen to your music NFTs and play along with their rhythm 🎛️, has entered alpha stage.
Bit.Country announced its launch of Marketplace 2.0 with a new cart that lets you purchase multiple NFTs in one transaction.
🗞 NFT News from Ethereum and Beyond
Jury convicts former OpenSea manager in NFT-insider trading case.
Sotheby’s auction house launches on-chain secondary NFT marketplace.
Blur’s recently launched NFT lending surpasses $16M in loans, led by Machi Big Brother.
Sports Illustrated launches Polygon-based NFT ticketing platform.
Star Wars limited edition ‘Digital Toy’ NFTs land on Flow blockchain.
Lebron James spotted in RTFKT Nike sneakers—Clone X NFT holders rejoice.
Bitcoin daily transactions hit all-time high with 3 million Ordinals inscriptions.
Proof’s Kevin Rose on building in the NFT bear market: ‘holy shit has it been tough’.
Adidas and Pharrell release digital clothing for Doodles NFT holders.
Lens introduced a new optimistic L3 scaling solution.
OpenSea Pro now fully supports ERC1155 collections.
Warpcast, a client of web3 social media app Farcaster, added support for Manifold and Zora links.
Zora introduced a Profiles system.
finiliar rebranded to fini.
Proof unveiled the Proof x Moonbirds Community Council.
Yuga Labs explained how Environment tiers will work in the context of the Otherside metaverse.
Sound introduced a new homepage interface.
Sound also just saw its biggest music NFT sale to date for a Snoop Dogg “golden egg” track.
Backed added Fini and Froggy Friends as supported collateral types this week.
NFTfi.com is introducing a loyalty program ahead of what looks like a native token launch.
dr3a.eth published a thread on the new notable additions to the optimized ENS Manager App.
Teng Yan published an informative thread on NFT distribution models.
Gandalf is a new platform that lets you easily token-gate web2 content through web3 means.
That’s all for this week, see you in the next edition! Got some links to share with us, artists to feature, NFTs to sell, jobs to promote, or events to popularize? Get in touch with Bruno or gbaci!