The Nifty #6: A Mere $17 million for Cryptopunks

Happy Wednesday!

The Punks Auction

Last night I watched the Christie’s punks auction live from the SaveArtSpace exhibition in Union Square NYC. The auction went for $16.9 million which disappointed Cryptopunks holders for whom the over/under was $20 million. As the audience (which was likely in violation of some code based on the number of people there) groaned with the outcome, one guy piped up “What the the fuck, $17 million is a lot of money!”

This tweet thread from Gmoney this morning summarizes the disappointed perspective. However the guy who said $17 million is a lot of money would also be spot on. So where are we at in the overall NFT market cycle?

Yesterday’s confirmation from eBay that they are adding support for NFTs provides some great context. Pranksy, likely the largest NFT flipper, tweeted out “Bit late to the game lads :D” in response to the eBay news. That hot take is hilarious though as eBay has 187 million buyers and OpenSea, the largest NFT marketplace, has approximately 100,000.

In other words, this is the first inning!

New Interview Live

Yesterday, I published my interview with Jordan Lyall, a co-founder of a new company called Niftys and the original founder of Meme. Not only is his founding story of Meme absolutely fascinating but he also revealed the only details I’ve heard about the private Niftys product. It’s well worth the listen!

Live Show Tonight

This evening I’ll be interviewing Jeff Holmberg of Terra Virtua live on Clubhouse. For context, Terra Virtua is one of the original platforms for digital collectibles and has focused their NFT efforts on the world of VR, AR, and 3D entertainment. They also have some major partnerships including Paramount Pictures and Legendary Entertainment.

Make sure to tune in! I’ve also brought back the Q&A component of the Clubhouse shows which has definitely provided a more enriching experience for all involved.

Until the next email :)

~Nick