It goes, he asked him, thanks for joining us. I'm gonna give it another bit until we get a few more folks in here.
All right GMGN, thank you for joining us here this morning. We're gonna start the show here in just a few minutes. We will give it a few for folks to fill to in. Get our speakers up on stage while we wait. Here are some turns.
Good morning and welcome to the Lucky Lead. Today is Thursday June 1st. It is
We saw some massive pockets of green yesterday. I'm excited to get into all that here with you today. I see some friendly faces out there. Liz, Tim Boy, Angle, Axel. Thanks for joining us. As a reminder for any new listeners out there, we do run this show every weekday Monday to Friday at 10 a.m. Eastern. It's a 30 minute show covering all the
your news and crypto web 3 and in a t's. This show is meant for those interested in discovering the space, those actively buying and selling in the crypto and in a t markets and those here just doing research. I'm your host Tyler D and I'm joined today by some amazing coos. We've got Emily loves crypto, a web 3 security
expert and co-founder of the Full Proof app. We've got Logan Hitchcock, editor-in-chief over at Lucky Trader. He's repping the Lucky Trader account. He's been covering the space in depth for years. We've got Ghost, Content, Star over at LT, quiet way out dipping his toes in AI and rocking the banger Opep and PFP Ghost. Good morning, how you doing?
goes to might be on mute still. All right, goes having some more technical difficulties. Twitter has been rough this week. Today we've also got Aston Cloud with us. I want to welcome him to the show. He's the founder of Collector's Corner and Art Connoisseur follows the art and a team market as close as anyone asked
FIWO, doodles, Opepinsing, new all-time highs, and then we're going to do a special segment with ASTOM, doing a deep dive into the art market with Grills, art blocks, and more. When Ghost gets back up, we'll see if we can do some housekeeping items. We'll try to get the newsletter's pinned.
to the space it looks like they are already up there. So, ghost, thank you for that. Let's just dive right into our top story here today. And that's some bull market vibes in the NFT market. I mean, this NFT bear has been brutal, but there are some signs that the bottom might
behind us and perhaps kind of looking backwards that first weekend of May which was peak meme coin season when daily NFT traders fell below that 4,000 level that might have been the bottom. So momentum has been building in select collections yesterday we saw
some of the most widespread bull action we've seen in a long time. So I'm going to run through some of the headlines from a news perspective metrics and market action that we're pretty positive yesterday. So first we saw daily unique traders jump to 9,000. It's the highest level we've seen since April 28th. The woecious
share new details for FIWA world. The market immediately pops is up 20% also registered the sixth highest all time sale of 38 weath. Oh, pep install new all time high sale of 30 weath on a release for one of one. The jack butcher ecosystem pretty much ripping across the board 20 to
40% checks briefly went over one. Opepins hit 1.1 after the sale and after seed phrase completed a single check yesterday. That was notable. In the Mimai ecosystem, a whale perhaps Orlando Hose on of a Macau casino boss swept 300 eith worth of captains driving their flow
to 9.69 ETH. In the Bitcoin space, ZK Sharks Bitcoin project OMB ran to a 1.8 Bitcoin floor. That's like 25 plus Ethereum. Incredibly high. Spirit Dow, they launched their comics. They minted out at 0.1 ETH yesterday. They 4x
immediately we're at 0.46 this morning. We saw this new project grapes on the low end of the market. It's got ties to anemoka. It minted out at 0.0390th and 3x to 0.12. And then we got bored and dangerous. It was swept, jumped 40% to 0.12 after news of azurebola mechanics and their new
take the small wins right now. I'm certainly compared with how things have been recently. But I want to open it up to our speakers here. And I think my first question, you know, is the bull market back? Could we see an NFT summer? Ghost, maybe I'll tell you what first, I think you're back with us.
Yeah, can you hear me? I sure can. Oh God. I was getting rugged real hard there. Glad to be glad to be back. I would not say that an NFT summer is back, but definitely good to see some positive momentum. And as someone who has put a lot of bags into Memeland and Opeppin is certainly feeling really sunny on my end.
compared to probably a lot of other people. So very fortunate to be involved in those two projects heavily. But it's a good, it feels positive because people are buying stuff that they actually want. And like those two projects that have holders that are buying art and buying a collection that they actually want to hold and not just farming it or, or
flipping it right away. So it kind of feels good that there's a little bit more organic activity. But it remains to be seen how long that'll last or how long the attention stays on that. But I'm feeling cautiously optimistic about it and it feels good to see people buying stuff that they actually want. Yeah, I'm with you there. It does feel good. And I think, you know, typically,
The typical end of cycle activity is when all the attention is on just the, you know, the shit projects trying to do quick flips, get in and out as quick as you can, knowing that things are going to go to zero. Then we saw like, you know, this, this week's of bear it.
like we're starting to see beginnings of a new potential cycle here. We're again, like you mentioned, people are actually buying in a tease day one. On the mainland side, did you see that sweep overnight? I didn't have a chance to dive in. C-NIG from the Underground Circle was tweeting that the person
who did that 300th sweep has the Orlando Ho.E.T.E.N.S. Domain in Orlando Ho is the son of a Macau casino billionaire. So of course that's not confirmed that it is him. I'm just curious if you saw that. If you've seen any more chatter on that. Yeah. I saw
I didn't realize who it was or any details about it until your newsletter this morning. But it sounds like we might have another whale swimming in the NFT waters that we didn't have before, which is always interesting and good. But it's interesting because I think Memeland is one of the
few projects that people look at, kind of like anything in the UGIT ecosystem where there's still that opportunity to get possibly like an APEC coin style drop. And it's so hard to get that in a project these days, especially with like the regulatory concerns and it seems like meme land is kind of pushing forward that and isn't based in the US so they might not be as concerned about the dropping of token and stuff like that.
But there's just not a lot of places to turn in the NFT space where you could possibly see a huge airdrop like that and I think that people are kind of fleeing to meme land because they feel like that's still an opportunity there. Yeah, I think that's a big part of it. I think there's also a narrative that, you know, it's Asia money and Asia Wales who are kind of flocking to this project.
And I don't know if this was actually Orlando Ho who did this or not, but more news headlines like this is going to deepen that narrative as well. Logan, maybe I'll tee you up. I'm curious for your reactions. What do you think was perhaps some of the biggest headlines or the single biggest headline from that list that we walked through?
- All right, Logan might be having technical difficulties here as well. Emily, maybe all the same question to you. Anything jump out to your attention? Are you buying NFT summary yet? Or do you need to see a little bit more? - Well, now I feel like I'm just filler.
I'm not really buying much right now. It feels so inconsistent and unpredictable and things that used to be clear indicators of a good by opportunity or the right time
time to sell are just not what's there anymore. And it's made it super difficult to try to make a flip or get a good buy. Like I wouldn't be buying anything except for long term right now. It's got
is just so it's just so fickle. I also I'm not I'm not so sure the market is back either. I think people want it to be back and that's you know enough to kind of kick it down the road a bit but not enough to get it off the ground again.
Yeah, those people are me, so you're talking directly to me here. No, I'm with you. I wrote this this morning. So do I think we're in a full bull market? Of course not. Volume is still down 60-70% from local bear market highs.
Let alone from the true bull market levels, daily traders still very low, you know, unique wallets below 10,000. So I don't want to, you know, come out, you know, way over the top here, super bullish. I think there's also this whole blur farming.
I'm hanging over the market now that whenever the incentives go away, we're going to see influx supply hit the market. I think what has turned my attention is there are collections that have seen some bullish activity here.
you can't make the statement about the entire market itself. I think there are ecosystems that are experiencing a run in signs of small bull market activity. So like Jack butchers ecosystem, meme land, clearly hot right now, granted, I think especially
for Jack, we need to see a little bit more than just three or four weeks, but the momentum is clearly there. Now, mainland has it, I'd say, for a few months now. So I think that's a little bit more confirmed. The setup I'm watching is, you know, there's a lot of concerns here about the liquidity in the crypto market.
Are we going to see more crab action here across the summer? If so, that's going to be a pretty solid setup for NFT trading. I do like that as a potential setup. Ask them I want to throw it to you and then we'll go to Emily.
Yeah, thanks. So I'm more on the optimistic side in general. Look, I don't think we're back in the short term. I look a lot at the macro and personally, until Bitcoin can hold about 30,000 US dollars, I don't think we're going to see a lot of liquidity flying
we can see Bitcoin really sustain about that and people feel like the market is back. And what you mentioned these highlights here, what I think is really interesting. First of all, I love OpePen, Jack Butcher's project. I think it's brilliant. I like meme lands a lot. And I think we're essentially the market
is telling us what's going to lead out of the bull market because it all starts with these more popular safer bets if anyone was in crypto in 2017 2016 that's how these runs tend to start and then it moves down the risk curve. So I feel optimistic and we're seeing this in our
I feel optimistic that the winners or at least the safe bets are being identified, but I agree with Emily. I'm not super bullish in the short term, say over the next few weeks. The only other thing I'll say is that I've been in some of the DGN channels and it feels like the meme coin meta is dying out.
And so I wonder if some of these profits have rotated over into things that people actually want for the longer term. Yeah, I'm ready to declare meme coin season over, you know, clearly it's still happening, but I think that the peak, the local top is behind us, the actual top is behind us.
behind us here. And I do think we're seeing some rotation. And I like what you said there, asked them about, you know, we will see some, I do think we will see some winners emerge from existing projects in this bear market. I think there's a lot of chatter. Everyone says in the next bull run, right, it's going to be new projects that catch all the attention
and make the big legs up. And I agree to that too, and extend, but that there's still going to be the 1% that pull through from where we're at now. And those are likely to have to see some of the biggest gains. So I'm with you there. Emily, I want to get your thoughts. And I think we've got Logan back on stage. I want to give him a chance to react.
Am I going for it? Yeah. I just like, I think this is more of the macros fear taking shape over the longer term where the higher quality
And by hierarchy, I guess I really mean more like higher conviction projects and more unique approaches and consistent delivery is what's really going to help.
Unfortunately, that's not all there is. There's definitely a component of luck in there as well that, you know, were you able to capture the attention? Were you able to maintain it once you caught it? I think it has a lot more to do with that and
The projects that have really come out and done something unique, not the ones that are trying to be the next whatever it is, are the ones that are going to get the legs to make it through the next iteration of the technology. And I think that's what's holding everything up.
Now we just don't have much innovation happening and therefore you're going to need more creative models on what you can do with all you
right now and that's those are the projects that we're seeing rise to the top and until we get more infrastructure that's just I think that's just how it's going to be. I think that makes sense and I think that the lack of innovation in this market makes it a little bit easier to spot the price
projects in the founders who actually are doing it. So I think it's an easier time to consolidate some bets right now, at least from my perspective. Logan, I think we've got you back up. I wanted to give you a chance to weigh in on any of those headlines that caught your attention the most and then we'll move to today's news.
Okay, awesome. Yeah, you know what, from the headlines themselves, like not one jumps out above the other, I think I just kind of piggybacking on what Emily just shared regarding projects innovating and whatnot. One of the things that's most exciting to me about the market right now is that some of the announcements or perhaps most of the announcements that we're reporting on daily
feel like they're actually substantive, substantive in nature, meaning that like it's not just speculative, you know, there may be an airdrop, there may be a token, I know we were talking about mainland, but like the real projects trying to do things, you know, the only force with Fortnite and projects on
a project on ordinals, right? Doodles with camp. I mean, I know these may be small and people can write them off as like not real things, but they're actual, I don't know. I'm not sure the best way to characterize it, but like they're actual things happening, which was not taking place, you know, even three, five months ago.
It was more people waiting for those speculative vehicles that just had fizzled out via tokens or additional NFT air drops and beyond. So I'm going to be excited for me as projects have now taken the time and been able to work into these plans that they showcased or didn't
and now we're starting to see some of them come to fruition. Yeah, and with you in that, it's nice to see the substantive updates. I think what you will notice from my list of bullish market headlines is I didn't cover only forests or doodles because the market didn't really react well to that news,
does kind of go back to, you know, Carly Erily statement from last week to this market rewards abstraction and not specificity. I kind of debated that, but we are seeing more evidence of it. They talked about in depth on that the nifty show this morning. So I'm not going to recreate that conversation here.
But it will be interesting to see how the teams who are actually delivering real updates are able to derive some returns in the market here in the near future. So we will continue to monitor that. I want to get into our art discussion here with Aston, but before we do that, let's read the next one.
Today's Top Headlines powered by Lucky Trader. Trading volume came in at jumped over 14,000 ETH on Wednesday, highest levels in 10 days, as again the daily unique traders hit the highest level since late April. Only force held a 2 hour mega space yesterday making multiple announcements
including launch of a Bitcoin ordinals creation of a fortnight map with unreal engine partners and nationwide comic book release a new marketplace and more though the floor did fall about 10% post announcement. I saw it at 1.5 a.m. this morning. The Wojcis formally announced that 20,000 unique PFP
introduced party quests, a new gameplay component allowing players to form teams and go on adventures or prizes. A kid called Beast launched their own marketplace with peer-to-peer trading, promising a safer environment. Fluff World unveiled a suite of artistic tools allowing owners to pose and customize their goblin NFT models, and then Trevers shared enough
state, including some new NPCs, game enhancements, and refine UI. In Web 3 and crypto, it was more of a quiet day. Crypto down slightly Bitcoin down half a percent at 26,870, ETH down at 0.1 percent in 1860. The US House of Representatives did pass that debt ceiling bill last night, saying the states for a
to be in place before the deadline. And then finds the Toshi Labs has launched GNT version three in AI tool capable of converting selfies into NFTs on the saline blockchain. All right, that was a mouthful ghost, maybe just quick reactions. Any of those headlines stuck out to you thoughts on maybe the the only force update.
Yeah, I mean, it's all pretty interesting. I mean, it's also interesting to see these floors not move too much on these announcements. So curious to kind of like see what will actually move the floors these days. And it's really hard for some of these projects that that took
a huge dive to make any sort of comeback even when they are doing stuff. And I also need to get Logan's take on the Fowosius because I know he's a big paint fan and Fowosius fan there. So I need to hear the take up. Logan, what's your excitement level from one to 10 right now on these FeeWos?
It's probably like a seven or eight.
I know right I was I was a little Maybe I should have been Expecting that this would be ambitious and in a bit more complex like I don't know how much people looked into the backpacks and the flowers and all these kind of ancillary components That make up for you a world that I should have known that that was coming
and giving how long they spent working on this. But yeah, I'm still excited to have a few OPP as for sure. So give me an eight, seven, eight, yeah. All right, Logan is boiling over with excitement for FIBO world. Asum, I would love to get your thoughts.
Yeah, super quickly. I think it's interesting to see an artist releasing an ecosystem like this. So that's one thing that stuck out to me and makes me wonder if we'll see more of that emerging. There's an artist called the Pinder event Armin who does something kind of similar on the AI art side. The second thing that I thought was cool
was just leaning in more into digital fashion. We actually did it Twitter spaces on this recently and so I think that's really cool that I know he's worked with Artifact before and all that. A few of us just has but I like to see that progressing and the third thing is I just I hope that the the the the bull markets back when he's launched or maybe not if you want to
get it because another 20,000 pfp felt like a lot, but you know, like you said, ambitious, you should go for it. So I'm excited to see that plan. Yeah, I mean, Feewell pushing the needle across fashion, metaverse and PFPs here, low and low art. I am curious how the market will receive it. I mean, this is, you know, obviously a rough market
to launch 20,000 P.F.P.s. But I mean, Jack Butcher is having some success right now, so it can be done goes to encourage for your thoughts. I just wanted to call out the new clown token that we saw from the turbo guy, which was just brutal. And I bring that up because D's on Tuesday
was mentioning that he was still holding his turbo and then I saw him tweet earlier today that he he chucked it all after that. So it's it's funny to see how quickly kind of a person who was kind of hailed like I know that everybody was talking about how rat was creating like the the GPT token and it was kind of for our collectors but now everyone's kind of turning
not him very quickly and the comments on that clown token there are pretty brutal. So it seems like the tides have turned. Yeah, I did not see that coming. I think what went from a pretty fun and positive story with Turbo has now turned pretty sour. So I think that coin is likely down only at
this point. We will certainly see. Well, we're 20 minutes in. I want to get into our art discussion. I'm going to tee it up with some news out of Sotheby's and Grails. Then I'll kick it over to ask them to walk us through what's on his mind. We've been talking about this NFT market potential bull run.
You know, it feels like the art market could be there, but there's a few things kind of hanging over hanging over it right now I think a primary deterrent for a you know a bigger run and the art blocks world specifically has been these three AC rails auctions And now yesterday we got some new details
of what in their words will be the largest ever live auction of digital art. So coming on June 15th, the next chunk of the 3AC Grails will go on sale at Sotheby's. As a reminder, this is the collection from Thrieros Capital. It's mostly comprised of higher end art box NFTs. It has some crypto punks.
Some one of one art some pfp's in there as well. The highlight of this auction definitely the golden goose ringers. We got a few other highlights in there as well. There's a cube archetype and then genera of art featuring death beef Jeff Davis, mandaloria, a Hidekisukamoto and more. This will not be
the end of the Grail sales. Again, there's 37, I believe, that are going to be in this sale. I checked this other because Grail's wallet, there's still 424 entities in it. So I think there's still a way to go. Certainly that they outperformed expectations at that first.
that first sale. So there's I think higher expectations now for how these will go in just two weeks. But I asked them, I want to maybe kick it over to you. You know, maybe just starting with that first tranche of sales from from grails one, were you surprised with this performance and kind of what were your reactions?
Yeah, it's interesting. So if you go on the Sotheby's website, they'll have estimated prices or the price range that they think they'll go for. And all of those were way too low. Everybody who's been following the art side knew that. And so they blew those out of the water, which is good because
because it signals to the traditional art world, hey, these things sell for more than people think and it legitimizes NFT art a little bit more. I was surprised with some of the sales. It was a mixed bag, so there were, I believe, seven, yeah, there were seven pieces that sold. The highlight was a Fidenza by Tyler Hobbs.
And that Fadenza sold for $1.016 million and the most recent sale for that type of Fadenza, there's only 38 of these, was definitely lower than that. It was $370. So this was roughly like 500 E. An auto glyphs sold for about half a million dollars.
was a little bit over the back. So those were where I was above. If you went under, I thought there's a death bee piece which are only eight of that type that went under and the two ringers that sold were under. So it was a little bit of a mixed bag and I think that you kind of see this with grail pieces and in auctions people start getting real hyped and tend to
the show. He kind of went through on a piece by piece basis how each of them performed with, you know, his model because he had done some modeling. He's actually done some modeling of some of the other upcoming NFTs as well. I'm curious if he'll publish a piece ahead of June 15th. I think he likely will. Interest
going enough, maybe his most controversial prediction is he put a price target on that golden goose at 250. So I think I've seen calls for 1000 or higher. I think many are expecting it to be the number one. I think he's just been tying it back to, you know, more recent sales.
and then also the concept of was yesterday's grill, still today's grill or in the future. And the market continued to value those. So, Asa, maybe I'm curious for your thoughts on that and then maybe any other thoughts ahead of what's coming in this next round of sales.
Yeah, I think there's, I don't want to say 0% but like a less than 1% chance that it goes for 250. I mean, that fadenza sold for more and the goose ranger is really iconic. Perhaps the most iconic art blocks piece out there. So I would be shocked. It's certainly possible.
possible. One thing I forgot to mention with the Grails is there are some folks who did some wallet snooping. I didn't do it personally, but there's a guy who was a big collector named Alan Howard who's a billionaire and apparently he bought a bunch of these pieces. I don't think all of them, but a bunch of them in that first Grails sale there
So yeah, I will see of course that goose ringer last sold for 1800 ether It was about 5.9 million dollars at the time. This is in August 2021 Interestingly, not the highest ringer sale was another ringer the sold for about $7 million later that year and
So we'll see if if somebody gets it for 250 that would be a fantastic deal on the high end of the market As you mentioned there's 37 pieces selling the southern bees folks have only revealed six of them They said they'll reveal the rest of them today is what they told me I don't know if that'll be online, but they said there's an exhibition for that
These 30, at least the six pieces that they've highlighted, I went and I did the map. They sold for a total of 9 million, including that Goose from here, which was obviously a big chunk of it. I think that the Goose will go for a lot. I think probably a couple of the other ones. There's a spiral, Fidenza. There's only 30 spirals. There's a perfect
expect from squiggles only 22 of those. I think those probably go for quite a bit as well, but I think you'll trade a lot. My sense is that the way I think about it is that the people who want these really unique pieces, they don't really care about money. They typically have enough money. What they don't have is unique, cool things. So they're willing to pay prices
that are above and beyond in order to get them, but I don't think that happens for the full 37. So I expect that there might be some deals when you get into the medium and the lower end of these 37, but it's your point. They're all super high-end to begin with, and the other thing that limits this is you have to be in person.
you have to be in New York City 4 p.m. June 14th to bid on these. You can't do it online. So that already self-selects for some folks. But you know I I think this will be really great for the genitive art market. Honestly I think it'll bring a lot of eyes on it and you know people have speculated have have we seen a
slow down in the generative art market because of this. I think maybe I'm less convinced of that because again this is limited. Like you have to have a lot of money to even consider buying some of these pieces and you have to be there in person. I think it's probably the broader macro stuff that is affecting everything that has slowed down the market. But I certainly
based on the reaction from the sale a few weeks ago, I do think this could bring some attention and liquidity back to general. That makes a ton of sense. I want to touch on a couple of things you said. I really appreciate that deep dive there. So I didn't realize that this Alan Howard billionaire had been one of the buyers. So I think there's
There's some level of fun around art blocks going on sale at these auction houses because of the higher fees. It's not necessarily Web 3 Native, there's KYC involved often. But the flip side is the entire advantage is it unlocks a potential
on the buyer pool. If it opens the door to billionaires who wouldn't have otherwise been in this market, that's pretty interesting to me. I'm curious if we'll see more of that. If we're able to actually have any concrete data for who's sending these buyers
are. I think one question I want to quickly ask you ask them then we'll move on to the art blocks market. Do you feel like the three AC ownership provides extra provenance, extra value to these pieces or is it a non-factor? I'm curious for your thoughts on that.
Um, you know, the way that people talk about it, I don't think 3AC necessarily does. I think a lot of people don't even, especially the new folks to the market don't even know who 3AC was. I'll be honest, I barely knew who they were, but it indirectly provides prominence because they paid a
lot of money for some of these pieces, often above market. And that, you know, you see the price tag everywhere in the web free world, it's on the blockchain. And I think that does provide some prominence and interest is, you know, it's kind of a chicken in the egg. Want something costs a lot. It is started to be perceived as better.
for better work. Yeah, that is true. So we'll certainly see how these play out. If we get more details out of Southern Bees here, I will certainly be reporting on those. I'm curious, you know, specifically which of the 37 we are going to see. So I, well, maybe let's shift into the art blocks market.
it. So after the completion of the last round, we saw a brief surge. It feels like that surge has stopped, but I don't know that we've really fallen back. So maybe, uh, as some give us your take, give us a quick view of the last few weeks of action and maybe kind of what your perspective is.
Yeah, absolutely. And we definitely saw a surge. There's a few interesting things that happened here. And I'll talk through a couple of collections that I track closely that, and you know, for folks who are listening who may not be familiar, these are, I would say, the blue chip collections in the art world and what one bit of
So, one tiny bit of context is right after that rail
50% across some of these top collections that I'm going to talk about. So that coupled with some meme coin gains coupled with this new attention from the Sotheby's auction led to quite a bit of a run-up in floor price, up to some of these collections
like 33% which doesn't sound like a lot but mostly these collections have high floors and we hadn't seen that kind of a move in the bear market for a while. To your point liquidity has dried up more so than necessarily floor prices. A lot of these floor prices
are holding and they're like in the arc side there's just not that many things that are listed. So I'll talk you through really quickly here what I consider the bootchips that I really track and what some of these numbers look like. So Chromie squiggles, the floor went up from 9.2 to 12.2
It's now back down to last I checked 11 and a half and might be around 11, but you know, it's largely held and there's only 1% listed. So very few and obviously people list when prices go up but generally the listings are pretty thin in this collection. Fedenza's which is really considered the Grail Collection.
of our blocks and generative art. That jumped from a floor price of 50, 30, to 87. It's now settled at 69, but it's two sales away from 95. Not that many listed. Ringer, same deal. Floor price, 29 to 42. It's holding up there at 42. Gayser is 15 to 17.
only 2% listed it's holding at 17 archetypes 10 to 15 and you know the other ones I'm looking at a very similar story I won't believe her I won't bore everyone with exact numbers but anti-psychewolens memories of Chilin meridian same deal the floor prices have really held up and jumped up now that's not the same
that they can't retrace, but certainly this kind of attention. With every one of these moves, some people who are going to hold these things long-term pick them up, some people are flippers, and they might eventually lower them if the fluidity doesn't come back. But overall, we saw a really, really nice run there. And yeah, I'll
I'll pause there and also note that if you want we can talk about the squint all option that happened but overall it's very positive I'd say full prices came up there was some liquidity injected that's dried up a little bit but floors are holding and I would say the sentiment is still better in the art side. No I think that's a great overview as a thanks for
walk on us through that. You know, I think when we were talking about last week and we definitely, you know, bang the drum, I thought Markets back, it was surging. I did caveat, I was like, this, let's see if this plays out for at least a few weeks and not a couple days. So it is feeling like it was one of those
two-day pumps, but what's positive is that we haven't really seen a retrace. So I'd like to see that. I do want to touch on the squiggles auctions before we do that. Maybe just a general question. I'm curious if any of these projects' performances from a price perspective during this bear market, like
the levels of pullback have surprised you in any way. I think one that jumps out to me specifically is Fontana. There was a point where that was kind of the, it was a very popular collection, at least in the art blocks discord. We saw it around at 11, 12 level.
didn't solve a 75% pullback. It was kind of neck and neck with anti-cyclone with memories of Kaling, but now it's kind of fallen a tear below. So I think that's been a little bit surprising to me. I'm curious if any of these collections performance has been a surprise to you.
I guess it follows a predictable pattern is what I would say and with Fontana which I still really like by the way I was going to mention it as a couple of collections I like later on amongst the couple of collections I like when you see such a parabolic
rise is always a retracement and Fontana launched in the depths of the bear market. But if you look at the chart, it peaked around $15,000 in the floor around $5,000. That kind of a run is fairly typical whereas compared to anti-cycron and memories of G-Lin, those launched
earlier, they've been around for a longer. There's been more time for a collector base and a collector base that has positive vibes around it because it wasn't in the bear market. But you know, what really surprised me actually in relation to what you just discussed was that anti-cycloan just seems to be outpacing some of the other collections.
and I think that it's a sign that the market really likes it. I love this collection, like Full Disclosure, I own a bunch of them and it really catches my eye. But that has what you used to have a lower floor price in Fontana than Memories, Peeland, and Meridian, and it's really, it's basically
right outside of the top five of our block's collections and I think you know fantastic artists could keep going but you know what you mentioned with Fontana we also saw that with the harvest which launched earlier this year I believe it was like early January and that ran up to like a 12 ETH floor prize and that was come back down sitting at a
3.690 floor price. So, you know, it's just these parabolic rises don't sustain, but they tend to find higher floors afterwards. And, you know, we're also kind of talking about the top of the top here compared to the other art projects. So, they're still well positioned even though it didn't sustain that
that high rise. I mean along these lines I'm curious for your reaction to last week's curating that human unreadable. So I think you may have been on vacation or traveling a little bit. So not sure if you're able to do an in-depth dive but we saw that meant out what is zero point nine.
nine. Some collector showed some favor. We saw like a 200% surge and it's pulled back a little bit. I'm curious for your reactions to that and then maybe are you expecting the flippers to come back to these art blockments here in the near future.
Yeah, yeah, I was on vacation, but I'm obsessed so I can stop following stuff. I'm looking at the art market. So, you know, the mint was higher than I expected. It's 400 pieces, which is, it's medium sized for an art collection. It minted at .8.
A.B. Recent R-blocks graded have minted at lower than that. There's one that I like called cargo that minted at 0.25 a few weeks prior. So 0.9 was high. Surged up to a 2-Ether floor. It's retracing now. Equity has moved on as it often happens in these R-blocks.
and really any collection that's of a smaller size. The floor now is 1.5/8% are listed. I mentioned some listing statistics before for some of these other collections. For art, you really want it to be below 7 or 8% to feel like, "Okay, most of the flippers are probably
So I think there's still some flippers here who will take some lower offers and the floor price drops. Looking at the collection itself, you know, not just the stats. I like it. It's beautiful. It's actually an interesting project. It's conceptual and visual. It's images of people dancing.
They're all black and white and you see various body parts that are mixed in with the images. It was interesting for this. Generally speaking, in the current market, ConceptualArt doesn't do that well. There was a lot of hype from the ArtBlock's team about this. Like Snowferro was on a few podcasts. I don't
I can't say exactly why that was. Perhaps they're trying to let people understand the story behind some of this conceptual art a little bit more. But, you know, I chalk that the liquidity that was injected into the market when this released, which probably pulled in some flippers,
I think that's why we're seeing the price action we have. I think, you know, I like the collection. I do think sometimes it's hard to discern different pieces. They, you know, I don't know if it had been 200 pieces if you would have really noticed that much of a difference. And that's something we look at for long-form
with your analysis of it. Ask maybe let's pull back to the squiggles auction. I think I was fairly surprised at how high it went. Well, we saw them go in the 18 to 19, 19 eth range. So I'm curious for your reactions and how that put out.
Yeah, so the floor for squiggles was around 12 during the auction. This was on the 23rd so last week Tuesday ran for 24 hours Typically with these un-minted squiggles you see a 50% premium to the floor so it's actually in line with what's historic and
question is should that be the premium I mean squiggle dows runs analysis and I forgot their exact number but they effectively weigh the floor price of the different rarities of what your chances of getting a rare a rare squiggle and so it was it was pretty much in line I mean I think
the market was hot. Swiggles had just run up in the last few days from 9 ether. There were tons of sales. Everybody wants to hope they get some super rare. This is the gambler's premium as they call it. In this case, the
proceeds went for ALS research. So from that standpoint, it was a good cause. I think that helped people justify paying more for it. Yeah, I mean, you make a good point. It was basically kind of mathematically solved at this point. You could, you could predict the expected value of what these unmented squiggles could
be to inform the price action. So I think that makes sense. Well, Asim, this has been an awesome walkthrough of Grails and kind of the last few weeks of art blocks. I'm curious, is there anything coming up in the near future that you're excited about that you want to share with us?
Yeah, just just one on the horizon that I realized so Emily Shea who created memories of a human that we were talking about. She's a fantastic generative artist. It works a lot with patterns. You can check out her work. She has a new release coming out on June 7th. So next Wednesday and that's part of the LA County Museum of
art they have been doing a series of releases recently released one with death beef it's called interwoven there are only a hundred pieces and the mint is pretty much all spoken for they're all allowed listed so it's gonna be hard to get a mint you could get one if you had a full set of their first
release that it's complicated DM me if you're interested I'm happy that takes I don't want to confuse folks here, but that's coming out I think that'll be really great And you know she has another hundred piece collection that she did with bright moments called off script and these are hundred unique pieces by the way, so we're generative art. They're all they're all unique
Off script is a floor price is seven ether with recent sales and six to six and a half ether range So I think it's going to be a good deal And you know if you're waiting on secondary you grab one of these around two or three ether I think that will do well in the long term But keep in mind liquidity is low with these things in general Especially in the bear market times, but I think it would be great
great long-term hold. So excited to see those out. That is exciting here and I appreciate you sharing that with us. I didn't have a whole lot of upcoming progress on my Raiders. So now I know what to dive into. Emily has been patiently waiting with her hand-race. Her arm is exhausted. So I do want to give her a chance to ask her question here.
Yeah, so I was curious just to kind of about your personal opinion. What is it about the smaller scale generative art that makes it such a different marketplace than the larger scale generative art? Like, is it really, you know, the lack of the PFP?
vibe is it is it specifically that you know there's just less clippers there it's more expensive price range because you know from from an artist. I kind of analysis perspective it doesn't make a whole lot of sense right it's the same medium it's the same marketplace it's the same money buying it.
But ultimately they behave very differently in the same market Yeah, just super quickly when you say smaller versus larger what kind of numbers are you talking about like a hundred versus a thousand or a hundred versus ten thousand Yeah, more like the hundred couple hundred versus ten thousand
Yeah, when I think about all this stuff is it's it's it's coming back down to attention for me. It's like what is going to drive attention back to this art? I think there's more beautiful art than there is our attention span, especially for folks who are trying to buy. And I think you know we see this even between collections that are a thousand pieces versus a hundred.
I think when you have a larger collection, you can really form a community around it. There are people in discord chatting with each other, sharing. I think to some extent, the smaller collections can be forgotten. I don't know if this issue will persist into the future, but it would be similar to having your collection be in
a gallery in real life and a small gallery versus being in the moment. There's just going to be so many more eyes on it and more people who remember it and can appreciate it. And I think that, you know, Web3 could solve for this, of course, and we probably are, but right now, I mean, honestly, it's a lot of what we try to do with collectors, corners, and organizes this
So you can find out some of your favorite artists might have art in some corner that you didn't know about And I imagine this will happen to some extent in PFPs right as these PFP when board aives releases there are 20 a thing or whatever People are gonna be like oh, yeah, there's a kennel club like I forgot about that Well, that makes a ton of sense. Thanks for
Answer in that ass and I think that might be a good say here We've had you for a full 30 minutes. I want to be respectful of your time here You know you mentioned collectors corners. Is there anything that you can share with our with our listeners here who may not be familiar with you and your work About how they can follow along
Yeah, super quickly. So you can click on my profile or go to @collectors_xyz. I have my co-host here listening in Jared_Paws. We just geek out on the art market. We cover art that news coming up with our cheap art that you may not have to worry about for investment
at standpoint, some investment advice, and then I've personally launched a premium investment service if you're interested in building a wealth in that standpoint. But we have a newsletter, we have a video episode that comes out weekly on YouTube. We have a podcast, we try to find it, make it easy for you guys to find this info, we post on Twitter.
So you can check us out if you're interested and please feel free to DM anytime if you're interested in learning more or in that premium service. Well, I asked them, uh, thank you so much for joining us here and sharing your expertise. This has been amazing and folks. Please give us a follow if you're not already along with Collector's Corner.
That is going to be it for today before we get in to today's drops though. Just quick note we do have Patrick Amadot coming on the show tomorrow. We're going to continue this art theme for one more day. We're going to talk about his doppelganger release plus a lot more. So set reminders.
at 10 a.m. Eastern for that one tomorrow. All right folks, that is it. But before we go, what's dropping today? A couple of drops on the radar. We've got our blocks presents speak to me by Alisa Orthas coming at 1 p.m. Eastern. We've got Safari surfers coming at 9 p.m.
Definitely a slower day of new drops that our blocks drop likely the highlight but given the collection supply of 290 it may struggle to to mint out in this market otherwise I think check for some stealth men's I think there's a minute happening on Magic Eden Bitcoin
today. I think the Bitcoin bears ecosystem maybe having something happen over there. So check that out if you are a Bitcoin NFT enthusiast. But folks, that is it. That is our show for today. We will be back tomorrow at Tinney and Eastern with Patrick Amadon. Thanks to our listeners for tuning in. Thanks to my coach. Thanks to Asim Cloud for coming on. Everyone enjoy your Thursday.
Thursday. Let's make it a great day. Bye everybody.