31/07/2023 The Airdrop: Reddit Releases New NFTs, Crypto Twitter Leaves Threads on Read

Reddit has released its latest NFT avatar collection aimed at inspiring "warm, fuzzy feelings of nostalgia” among collectors, while Amazon added new blockchain tools to its Amazon Web Services cloud platform as it continues its Web3 expansion.

Also, we chatted with Web3 influencers to suss out if the crypto degens are ready to migrate from Twitter to Meta’s Threads or another decentralized social media platform.

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This Week's Alpha

Much ado about Snoo:Redditreleasedits Gen 4 Collectible Avatar series, bringing a new batch of colorful collectibles to its NFT shop reimagining the platform’s iconic "Snoo" character. Titled “Retro Reimagined,” the microblogging site says it is meant to inspire "warm, fuzzy feelings of nostalgia” and features designs from 100 independent artists and popular NFT collections like Cool Cats.

  • Learning from the past:Previous releases havenot been entirely smooth, so this time around, the Reddit team implemented anti-bot measures like CAPTCHA to create a better user experience. In addition, the platform introduced spend limits and launched an “initial access” period on the first day to limit the number of NFTs a user could sweep in one go. Still, itwasn’ta perfect launch.
  • Soaring sales:According todatafrom Dune Analytics, there are now over 14.5 million avatar holders.

Amazon primed and ready:The e-commerce giant hasaddednew blockchain tools to its Amazon Web Services cloud platform, expanding the capabilities of its Amazon Managed Blockchain service that provides manicured infrastructure for developers looking to build Web3 applications faster. The new tools, "Access" and "Query," allow developers to interact with public blockchains more seamlessly and expand node offerings with serverless, scalable access to blockchains.

  • Add to cart:The new tools expand the platform’s already-growing Web3 ambitions, whichreportedlyinclude plans for an NFT marketplace.

Threadheads:While Meta’s new Threads social apprecentlyonboarded millions of normies, the question remains: Will it be cool enough to lure the vibrant crypto community away from its native Twitter homebase? Some Web3 strategists and builders areskeptical of its pull. “I don't need a Twitter clone – I need Meta to think deeper about creating new ways to connect,”Riley Blackwell, Web3-focused community-building strategist, told us.

  • Decentralized dreams:While the platform is compatible with decentralized social media protocolActivityPub, which would allow users to interact with other social media platforms like Mastodon, Bluesky and others, signing up still requires an existing Instagram account. This makes it more difficult to maintain anonymity online, which is important to a number of Web3 artists and creators. It’s alsovirtually impossibleto leave the platform once you join.
  • Scoring on simplicity:The platform does offer a more simplified and seamless onboarding process that allowed it bring in new users so quickly. A thread can be cross-posted as an Instagram story, sowing early seeds of interoperability. Still, Threads users are already spendingway lesstime on the app, which could make it a passing fad – a phenomenon high-speed crypto traders are all too familiar with.

Project in the news

Who: VeVe and Kartoon Studios

What: NFT marketplace VeVe has released a new series of chibi-style NFTs based on Marvel legend Stan Lee. Each of the four artworks had various edition numbers and rarity ranks. Kartoon Studio, which partnered with VeVe on the release, said that the collectibles experienced a “near-instantaneous” sell-out of its over 8,000 NFTs.

How: The collectibles, released as “blind boxes” that were only revealed after purchase, were priced at $15 each. According toBloomberg, the drop brought in about $120,000 and rose in value by at least 500% by Monday morning. On the VeVe app, some collectibles were listed for resale for up to $749.

In Other News

No admission fee:The 270-year-old British Museum is entering the metaverse through a partnership with The Sandbox, bringing its collection to the virtual world as well as releasing a collection of NFTs.

Twitter trading:Web3 walletSuku has launched an appthat allows Twitter (X?) users to directly send digital currencies and NFTs to each other, a feature Musk hopes to add to his social media platform.

Frequent flier:United Arab Emirates carrier Etihad Airwaysplansto introduce a Web3 loyalty program that will allow holders to stake NFTs for miles and travel perks.

Non-Fungible Toolkit

In the past few months, several Web3 projects have adopted the ERC-6551 standard, or token-bound account. The new standard opens up a plethora of use cases across NFTs, gaming, DAOs and the metaverse.

For example, let’s say aPFPNFT collection implements an ERC-6551 token standard. If the collection has its own native cryptocurrency, the NFT could custody those tokens. It could also custody derivative NFTs such as digital wearables for the avatar, like socks or sneakers or hats.Here’s what you need to know about ERC-6551.

Arts

https://www.coindesk.com/web3/2023/07/29/reddit-returns-with-new-nfts-and-crypto-twitter-leaves-threads-on-read/?outputType=amp

Interesting NFTs
trump 2020
This is a photo i took of my son playing around in one of our cat carriers, redressed to express the concern and damage the continuation of the trump administration could bring to the world in 2020 and beyond. Unlike the majority of my historic work found on opensea, all content was conceived and taken by me, so felt perfect to use as my first piece on Known Origin.
The classical poet Ono no Komachi, one of the Six Immortal Poets
Katsushika Hokusai (1760-1849) The classical poet Ono no Komachi, one of the Six Immortal Poets 1800s-1810s - Japan
Who Is The Creator 2
The idea for this piece was borne out of a tweet of mine that caused a bit of a stir. I’d posted a link to a blog article I’d written a number of months previous titled ‘Who is the Creator’ discussing various types of creative collaborations and why I hire people to work on my animations. It generated a lot of debate around creation and attribution with the community split on whether it’s right or wrong for an artist to hire other professionals to help them realize their art projects. I decided to push the boundaries even further and see how the cryptoart community responded. What if I quite literally had nothing to do with the physical or digital elements of the work other than coming up with the concept and coordinating it? I decided there was one artist in the space who could add huge value to this idea on levels that none other could and so I gathered my courage and contacted the great JosĂ© Delbo to ask him if he’d be interested in a very unique collaboration. I explained to him that to make this piece ‘work’ he couldn't have any say in what I produced and moreover, he wouldn’t even be allowed to see the animation until it was dropped on MakersPlace. To my surprise, Mr Delbo agreed to my proposal. The animation tells the story of the creative process, which includes my roles as writer, director, and producer working with a team and making edits and changes ‘in real time’. The dialogue between myself and my ‘hired guns’ plays out in front of the viewer. The music written for the piece adds to the nostalgia of the comic book superhero theme but other elements such as the snapping and kicking of the pencil and the signing of my signature at the bottom incorporates further layers and challenges the viewer to ask important questions, such as, is the ‘Art’ the final animation (the creation) or is the ‘Art’ the concept/credit for the creation itself?
Baby Jaguar
*waves*! I'm Baby Jaguar. I'm a Mad Scientist by day, and I like talking about how much I lift by night. My secret indulgence is apple pie. I hope you like kitten around as much as I do!
The Rare Pearl Moon with Motion
Motion Version Part of my moon series. This super rare pearl moon has just washed ashore on a remote tropical island beach, fining one of these rare Jems is like a total worldly treasure! These moons, only fall to earth once in a few million years! When I found this one I felt the luck that is said to come with this pearl moon.