Good morning: This is our first-ever NFT newsletter. Here you can find the latest NFT news around the world. We research everything NFT so that you don’t have to. That means finding NFT projects with huge potential. So let's get to the good stuff, yea!
-Alfonso Lua: Co-Founder, Connor Ripple: Co-Founder
NFT Market - The floor price is a great indicator of how a specific NFT project is doing. A floor price in the NFT space is the lowest amount an NFT in that collection is going for. Most of the floor prices have remained consistent this week with CryptoPunks seeing an increase of close to 3% in the last 24 hrs.
Today's edition:
🤑 NFT creators earn $1.8 Billion from royalties
📝 Reddit NFTs blowing up the NFT market
👦 Brothers, 11 & 13 years old, making it big in the NFT space
💰 Free NFT Mint
NFT Creators Earn $1.8 Billion In Royalties to Date A research report conducted by Galaxy Digital found out that Ethereum NFT creators have earned a combined $1.8 billion in royalties from secondary market sales in platforms like Opensea. The report also found that only a handful of individuals, 10 entities, took half a billion of royalty sales or about 27% of all royalties. Talk about concentrating your efforts on one particular thing. According to data from Flipside Crypto, 482 NFT collections have accounted for about 80% of all market royalties. As for the top company on the list, it is none other than Yuga Labs, the company behind Bored Ape Yacht Club. The company has raked over $147 million from royalties alone. Talk about getting rich!
Reddit NFTs Blowing Up In short, secondary market sales of Reddit’s Polygon-based NFTs are going through the roof. Just last week alone over 3 million Polygon wallets were created to collect Reddit NFTs according to Reddit. The online messaging platform has once again proved to be a behemoth when it comes to hyping crypto and the NFT space. Sales from Reddit NFTs have topped $1.88 million this week a surge of over 799%. As for the NFTs they are created by Reddit users as part of Reddit's Collectible Avatars Creator Program. These avatars are limited-edition avatars created by independent creators in partnership with Reddit that provide owners with unique benefits on the popular messaging platform. As for the creator themselves, they get a special profile that makes them stand out. Talk about being one of a kind.
Brothers, 11 & 13, Making Bank Selling NFTs Two brothers from Newman, Georgia have made it big in the NFT space. Joey and Eric Uzar, both of which are not old enough to drink or vote, have sold their paintings as JPEGs on NFT marketplaces like Opensea for thousands of dollars. The brothers have kept the original paintings in their studio but are selling those paintings as NFTs. These brothers have definitely found the secret formula for success in the NFT space. Their mother was not originally on board with the idea saying:
"That's so silly, I can just snap a picture and sell it? Well, that is fraud, and you are cheating."
However, it has proven to be an incredibly successful formula. The brothers simply take a picture of the painting, put all the descriptions in, and sell it over Opensea. The brothers are selling copies of their digital artwork for as much as $400. I may need to try this side hustle after hearing about it.
FREE NFT Mint The Mutant Dudes Just in time for Halloween, the Crypto Pugs Society are offering their NFTs for free. That's right a Free NFT Mint! Who doesn’t love free stuff? Crypto Pugs Society is a collection of 1,988 hand-drawn Pugs. As for the roadmap itself, they want to maximize the value and utility of the NFTs. Did we say it will be free? Well, almost. You will only be responsible for paying the gas fee. **Check for details on how to be whitelisted. Blockchain: Ethereum Mint Date: October 26th Website: Crypto Pugs Society
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