Metaversal is a Bankless newsletter for weekly level-ups on NFTs, virtual worlds, & more!
Dear Bankless Nation,
The floor prices of most NFT collections were shellacked over the past month, but over the last day many floors sharply rebounded up. What gives?
Some are pointing fingers at nftperp, an NFT derivatives exchange that yesterday paused its V1 system’s smart contracts.
The perpetuals platform’s done major volume so far, so with all that shorting action instantly dried up, it seems a decent amount of downward pressure has been lifted off of collections’ floors for now.
Is that pressure coming back when V2 launches, if V2 launches? We’ll have to wait and see. In the meantime thanks for reading everyone, and have a great weekend ✌️
-WMP
🙏 Sponsor: Kraken —Kraken NFT is built for secure NFT trading ✨
Over the past week, the floor-based market cap of the NFT space dropped from 7.91 million ETH to 7.43 million ETH for a 6% decline.
Want to unlock $1,000+ in Citizen deals and perks across crypto?
mint.fun just introduced !teams, a group minting competition. Minters are randomly assigned to teams (I got Team Purple💜), and each member’s points contribute to their team’s total score. The contest offers a chance to win from a growing ETH prize pool, bonus !fun rewards on mint.fun, and other prizes. Learn more by visiting the !teams FAQ. Keep in mind that one mint is 0.0025 ETH, and the contest concludes on July 28th!
1. apix on their latest onchain gaming report 🎮
2. foobar on why vAMMs are doomed to fail 💀
3. jalil.eth on the design decisions behind Opepen Set 009 🔥
Gallery, a web3 curation platform, just added support for NFTs minted on Optimism, meaning you can now organize and share your Optimism NFTs however you’d like. For example, publishing platform Mirror mints its NFTs on Optimism, so if you’ve previously collected any Mirror posts you can start organizing them as you wish on Gallery 🖼
A Bankless Citizen ⚑ turned $264 into $6,077 last year. A 22x ROI 🚀 in a bear market!
Kraken NFT is one of the most secure, easy-to-use and dynamic marketplaces available. Active and new collectors alike benefit from zero gas fees, multi-chain access, payment flexibility with fiat or 200+ cryptocurrencies, and built-in rarity rankings. Learn more at Kraken.com/nft
👉 Visit Kraken.com to learn more and open an account today.
Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.
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- Source: https://metaversal.banklesshq.com/p/perps
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