Welcome to the weekly update of all things NFTX, along with a sprinkling of NFT news as well.

Those of you with keen eyes will have noticed that we missed our weekly update last week which was largely due to all hands working towards the release of NFTX V2 — which has now launched and you can read more about that below.

Before we get into the V2 goodies, let’s have a look at how the V1 NFTX performed over the past two weeks.

Vault Action

Another great week of action on the vaults again, and another example of why V2 is going to be so valuable for you now that it has launched and you start earning fees on mints and targeted redeems. Staking rewards will be enabled around the end of July/beginning of August.

We also saw another four vault creations this week, and we have surpassed the 100 vaults number.

  • 3,051 unique wallets connected
  • 379 mint events
  • 169 redeem events
  • 7 vault creations

Here are the movements on our existing vault holdings over the past 7days:

  • Punk Basic +2 (2.63%)
  • Punk Attr-4 -1 (-3.85%)
  • Axie-Origin -1 (-2.63%) *note, this vault is now redeem only
  • Kitty-0 +30 (7.09%)
  • Kitty-0-Fast +6 (3.37%)
  • Avastar Basic +66 (27.73%)
  • Avastar Rank 30 +14 (7.91%)
  • Mask +5 (1.15%)
  • Babes Basic -3 (-1.96%)
  • Twerky -3 (-33.33%)
  • Waifus -2 (-1.17%)
  • Alpaca +7 (18.42%)
  • BGAN Punk -3 (-5.08%)
  • PunkBodies +1 (0.54%)
  • Ghost -3 (-42.86%)
  • ZENFT -3 (-6.98%)
  • Gutter Cats -4 (-44.44%)
  • My F&cking Pickle +1 (25.00%) (new vault)
  • The Alien Boy -2 (-100%) (new vault)
  • MLBC +4 (new vault)
  • Chainlink - Paradise Dimension +1 (new vault)
  • ChainLink - Sergey The Master Brain +4 (new vault)

Product Development

The time has arrived and V2 has been deployed to mainnet with a soft launch today. We have an announcement post on the blog and in Discord to explain the new features and expected rollout timeframes.

There is no rush to migrate over from v1 to v2 until farming rewards are turned off at a later date in July/August. The key takeaway from the launch post are:

  • Targeted Redeems — choose the exact NFT you want to pull out of the vault and pay a small premium
  • Create Vault — along with options to define the fee structure
  • Staking — add liquidity and stake your LP tokens to earn rewards
  • Vaults — view the vaults that you own and details on their ongoing performance

Keep an eye on our Twitter account and Discord announcements channel for further release details.

NFT News

Sotheby’s Auction the World Wide Web

The founder of the web, Sir Tim Berners Lee, has created an NFT of the source code and schema first developed for the web. These are the building blocks from which all your careers were built upon, and from which a medium which has revolutionised the world far beyond the realisation of fire, the wheel, or the industrial revolution.

You can now own that piece of history, and while the bidding started at just $1000 it is currently sitting at $2.8m with 2 days left.

Check it out on the Sotheby’s site.

We.New

We.New is the new project from @Beeple along with three other co-founders and an overall team of sixteen.

The approach from WENEW is to become the premier curator and provisioner of iconic moments in history.

They have started with a sports moment — the moment that Andy Murray became the Wimbledon Champion in 2013.  This moment is broken into five different editions, each with a growing edition size. The first being the premier and only unique NFT, while the others range in editions of twenty, fifty, one-hundred, and five-hundred.

Similar to other recent functional NFTs — like VeeFriends and Kings of Leon which give you access to conferences or front row seats/backstage passes to gigs — the two rarest editions of Andy Murray x Wimbledon NFTs also come with courtside tickets to the Men’s 2022 Wimbledon Final, and the single edition allows you to play tennis with Andy for 30 minutes at the All England Club.

The partnerships that WENEW have, alongside that with Wimbledon, is with TIME, Universal, Warner Music, and more. Thinking through the many moments of the past, each of us will have a moment which we might consider priceless. It is exciting to see which iconic moments come next.

NFT Drops

This weekend was a huge release of new NFTs in what is becoming a battle for the Profile Picture on CryptoTwitter.

You’re most likely already familiar with BAYC and Gutter Cats Gang, and this weekend we saw another two join the fight.

Polymorphs

A universe of polymorphic creatures with the power to mutate on demand. That’s right, while you can’t change your character type, you can reroll on all of the other attributes. Be warned, each change will cost you more. These minted for 0.0777ETH and quickly went to 0.13ETH on OpenSea. The rise was short lived and a lot of them are now available for less than half of the minting price (0.035ETH).

Bulls on the Block

Thirty minutes after Polymorphs launched, Bulls came out and drove GAS prices well beyond the 500GWEI mark.  All 10,000 Bulls are programmatically generated from over 250 items. All the art is done by their artist and Co-Founder Rui Duarte. The Bulls are stored as an ERC-721 token on the Ethereum blockchain and hosted on IPFS. Initially the mint cost was 0.08ETH but due to the high demand and GAS the cost was closer to 0.2ETH each.  These have faired a little better in the first 24 hours.

Numbers check


The 7d price for NFTX is up by 19.0%, sitting at $54.04 mark as of Monday afternoon.

That's all for this week. If you have any questions, come and join in on the discord channel.