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This week’s featured collector is Nowhere_

Nowhere_ collects Solana NFTs and they especially love Hot Spring Apes. If your curious about the NFTs on Solana, take a look at Nowhere_’s collection at lazy.com/nowhere_

This week in NFTs: Market Sentiments & Trends

Hello NFT enthusiasts,

The non-fungible token (NFT) landscape is never devoid of action, and the last week has been no exception. From controversial DAOs to blue-chip project declines, the NFT market has seen significant events that warrant a closer look.

The Azuki Saga

A decentralized autonomous organization (DAO) named AzukiDAO, consisting of Azuki enthusiasts, has stirred the pot in the NFT space. The DAO proposed to reclaim 20,000 ETH (around $39 million) from Alex Xu, aka Zagabond, the founder of the blue-chip NFT brand Azuki. This came after the controversial launch of Azuki’s “Elementals” NFT collection, which led to allegations of “rugging” against Zagabond.

Some, however, are questioning the legitimacy of the AzukiDAO. The DAO token, used for voting on the proposal, was minted only two days before the vote, and its online presence seems to be rather recent. Whether AzukiDAO is genuinely representing the interests of the Azuki community remains to be seen.

A “Black Weekend” for Blue Chip NFTs

The NFT market has seen substantial price fluctuations, with notable “blue chip” projects experiencing declines. The Bored Ape Yacht Club, which hit a peak minimum price of 152 ETH ($429,000) in April 2022, experienced a drastic fall over the weekend, hitting a floor price not seen in nearly two years. The Mutant Ape Yacht Club and Azuki also saw their floor prices dip.

This recent plunge has been further fueled by a significant sell-off of Bored Apes by notable collector Machi Big Brother. This sale triggered a ripple effect, impacting not just Apes but also other NFT projects.

These price drops, however, do not spell doom for the NFT space but rather reflect a market correction and repricing of PFP brands, which had seen substantial price hikes in previous periods. In times of turbulence, it’s crucial to remember that NFTs are a relatively new asset class and are prone to volatility in both directions.

Looking Forward

It’s also important to remember that the intrinsic value of NFTs isn’t always tied to a brand’s performance or a project’s roadmap but can also be linked to the unique characteristics and sentimental value of the artwork itself.

As we navigate this dynamic landscape, let’s continue to keep a close eye on market trends and stay informed. The current market sentiment is feeling bearish, but as history has shown us, it’s more likely than not that the sentiment will swing in the other direction in the future.

Stay tuned, stay cautious, and most importantly, stay passionate about the art and the technology that make NFTs so fascinating.

This week’s poll: Will you collect a “blue chip” NFT if there are further price declines?

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This week’s featured collector is Fjebara

Fjebara collection stands out because it has a clear theme: NFTs of paintings. Plus, the paintings they have collected are all highly evocative. Check it out at lazy.com/fjebara

Global survey reveals which countries are most likely to invest in NFTs.

Here’s a few interesting insights from the latest Consensys’ global survey.

First of all, the survey reveals that the term ‘cryptocurrency’ is widely recognized worldwide, but the concept of ‘web3’ needs more public awareness. Encouragingly, the internet community’s principles align closely with the web3 ideals of user control and data ownership, enabled by smart contracts, DeFi, and decentralized apps.

The survey highlights that many internet users feel they bring significant value to the web and hence, seek proper remuneration. This viewpoint aligns with the web3 vision of a fair digital ecosystem powered by cryptocurrency. However, the perceived volatility, risk, and potential fraud in the crypto market are hindrances to adoption. Addressing these misconceptions requires improved security measures, stringent actions against fraud, and increased transparency.

Discussing NFTs, a key component of the web3 ecosystem, the survey indicates that about one-third of the global participants are familiar with the term. Awareness is highest in the U.S., India, South Africa, and Nigeria, while European nations, South America, and Japan show lesser recognition.

Despite varying levels of awareness, NFT ownership is gaining momentum globally. Nigeria leads the pack with 90% of respondents expressing an intention to invest, followed by South Africa, the Philippines, Vietnam, Indonesia, and India.

Furthermore, the creation of NFTs saw a significant uptick among the various web3 activities over the past year, underlining their vital role in the web3 sphere. However, the survey found that for wider NFT adoption, comprehensive education is vital. There is a need for standard practices, user-focused education on risks and appropriate practices, and increased accountability within the cryptocurrency sector.

Learn more about the survey at consensys.io/insight-report/web3-and-crypto-global-survey-2023

This week’s poll: Are you planning to invest in or collect NFTs over the next 12 months?

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This week’s featured collector is NeoPicasso

NeoPicasso is one of those collectors who clearly have a unique taste. They might not have a large collection but each one feels special. Plus, we love the username. Check out NeoPicasso’s gallery out at lazy.com/neopicasso

Want your collection to be featured in the next newsletter?
Tweet a link to your Lazy profile and we’ll take a look!

An introduction to Ethscriptions: A new kind of NFT on Ethereum that is inspired by Bitcoin’s Ordinals

Earlier this week, a new form of non-fungible token was released on the Ethereum blockchain. Modeled on Ordinals, Bitcoin’s version of NFTs, the new protocol is called Ethscriptions.

Ethscriptions exploit Ethereum’s “calldata” to create a lower-cost and, arguably, more decentralized process for minting assets. In brief, “calldata” is the data sent with a transaction to tell a smart contract what function to execute and what parameters to use. It is stored in a special, read-only format which makes it perfect for non-fungible tokens.

Ethscriptions accommodates storage of images, files, or text up to 96kb directly on the Ethereum blockchain. The launch of the protocol was marked by the release of the Ethereum Punks project, which quickly saw its 10,000 assets claimed.

As of now, Bitcoin Ordinals have inscribed 13 million assets, while Ethscriptions, though recently launched, have reached a count of 180,000.

Not everyone is enthusiastic about Ethscriptions and the announcement has been met with some skepticism. Still, Ethscriptions are proof, once again, that the world of NFTs continues to evolve in unexpected directions. We can’t wait to see what will happen next!

Quick Start: Creating an Ethscription in 60 Seconds*

Ethscriptions.com has an easy creation tool, but if you want to go step-by-step:

1. Convert an image (max size: ~90KB) to a Base 64-encoded data URI (data:image/png;base64,...) using a service like base64-image.de. The Ethscriptions protocol supports all data URIs but images work best.

2. Convert the data URI to hex using an online tool like hexhero.

3. Send a 0 eth transaction to the person you want to own the Ethscription with the hex data from (2) in the “Hex data” field

4. After a few moments it should appear on this page, provided someone hasn’t already Ethscribed the same data. Duplicate content is ignored!

* source: ethscriptions.com

This week’s poll: Will you collect Ethscription NFTs?

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This week’s featured collector is Dolgor

Dolgor is an art teacher, airbrush artist, and art studio owner based in The Netherlands. Dolgor’s Lazy collection showcases the range of their artistic talent.. Check it out at lazy.com/dolgor

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Stand With Crypto: Advocate for Clarity and Fairness in Global Crypto Regulations

Every innovative technology is initially met with skepticism. It’s a pattern as old as innovation itself. Today, the crypto industry is on the receiving end of this skepticism.

Consider smart contracts. Only a few years old and their potential is already undeniable. It’s true that a significant portion of nascent blockchain and token-based companies will fail – this trend mirrors the early days of the internet and startups leveraging LLMs. Yet, those who survive will revolutionize the game. That is the inherent promise of technology.

Despite this, the crypto industry grapples with uncertainties, particularly those propagated by regulatory bodies like the U.S. Securities and Exchange Commission (SEC). But should the SEC pass judgment on the validity of an innovation? If their approach is truly principle-based, they should strive to facilitate startups’ access to funding and support, balancing it with investor protection.

Look at the past decade in America – a dramatic decrease in the number of companies trading on exchanges stifled innovation and the economy. Congress stepped in, creating exemptions to stem the decline. Now, it’s time for Congress to act again, adapting these exemptions for the emerging crypto technology. This will ensure a straightforward registration process and a clear path for exchanges, protecting investors and fostering industry growth simultaneously.

Let’s debunk the myth that all crypto businesses are large-scale enterprises. In reality, most are startups, sometimes with a lean team of just three people. These startups, teeming with innovative ideas, are stifled by regulatory uncertainties. They have all the information needed to incorporate and manage general business and tax licensing but are left to flounder amidst crypto-specific regulations.

Does it seem fair to require a fledgling startup to hire an expensive securities lawyer experienced in crypto? It’s akin to burdening a child’s lemonade stand with business licenses and food safety inspections.

When a judge publicly confesses the difficulty in understanding these regulations, it resonates with countless small startup entrepreneurs. They are willing to follow the rules but are confronted with an unclear path. Additionally, principle-based regulation can be politicized – different administrations may interpret the principles differently, jeopardizing the goal of investor protection.

The way ahead requires clear, fair, and accessible regulations that recognize the unique nature of the crypto industry. The startups, the engines driving innovation and future growth, deserve nothing less. A blanket approach is unworkable.

The time is coming for NFT collectors and crypto users to make their voices heard. Actively demand clear and fair crypto regulations. Stand up for startups. Advocate for the crypto industry, one of the most innovative technologies invented in recent years. Your support could ripple out, causing waves of global innovation, a wave that promises to redefine our world.

Ready to get involved? Mint a free NFT to show your support and then consider joining and amplifying these organizations:

1. Crypto435

2. DeFi Education Fund

3. Blockchain Association

4. Coin Center

5. Blockchain Foundation

We ❤️ Feedback

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This week’s featured collector is Limn

Limn is an artist, painter, photographer, and full stack dev. Their collection has many unique and compelling artworks. Check it out at lazy.com/limn

Want your collection to be featured in the next newsletter?
Tweet a link to your Lazy profile and we’ll take a look!

A Journey From Lazy.com to VeeCon 2023: One User’s Story

A couple weeks ago, a tweet caught our attention. It was from Lazy user lndlrd. He was preparing for VeeCon 2023 and had a unique request. He loves using Lazy.com, and he wanted to show it. His plan? To sport some Lazy.com merchandise around the conference, hoping to spread the word about us in the process.

There was just one problem: we didn’t have any merch at the time.

However, his enthusiasm and entrepreneurial spirit won us over instantly. So we thought, why not give it a try? We rushed to create a one-off, special edition Lazy.com hoodie and got it to him.

So, how did it go?

Well, in his own words:

The Lazy hoodie was an ice-breaker. Conversations sparked, and ideas flowed. It was a testament to the community we’ve fostered here at Lazy.com, a group of NFT enthusiasts and innovators who aren’t afraid to go the extra mile (or wear the extra hoodie) to share their passions.

We’re incredibly grateful for users like lndlrd. Their dedication is why we do what we do, and it motivates us to continuously improve and evolve. After this experience, we’re inspired to take a fresh look at how we can enhance our connection with our users.

Thank you, lndlrd, for reminding us of the spirit that drives our community. And thank you to each one of you for being a part of Lazy.com.

If you have ideas or feedback for us, feel free to email us at info@lazy.com or reach out on our Twitter (@LazyNFTs). We’re eager to hear your thoughts.

Until next time, stay innovative, stay passionate, and, most importantly, stay Lazy!

We ❤️ Feedback

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This week’s featured collector is Touchon

Touchon is an artist living in Santa Fe, New Mexico. Their Lazy profile has many samples of their art, including “Musicality of the Eye” — a collection exploring the elements of visual musicality. Check out Touchon’s artwork at lazy.com/touchon

NFTs are still alive and have a great foundation of collectors. Here’s a quick look at the most important stories in the NFT universe this week:

Sotheby’s Schedules Second Grails Collection Auction

The esteemed auction house, Sotheby’s, will once again host a sale of prized NFTs seized from the bankrupt crypto hedge fund, Three Arrows Capital, on June 15. Among the 37 digital art pieces up for auction, a particular work of interest is Dmitri Cherniak’s Ringers #879 (aka “The Goose“), valued between $2-3 million. The first set of NFTs auctioned from this collection brought in a hefty $2.4 million. Another private sale brought in over $3 million. So far, the collection’s liquidation sales have accrued more than $6 million, set to surpass the estimated total sales of $9.8 million.

Bitcoin Makes a Significant Stride in the NFT Space

Bitcoin is bolstering its presence in the NFT market with the introduction of the BRC-721E token standard. Developed by Ordinals.market and Xverse Bitcoin Wallet, this standard allows Ethereum-based ERC-721 projects to bridge their NFTs to the Bitcoin network. The procedure involves “burning” the ERC-721 token and inscribing the NFT onto the Bitcoin network. This new standard further solidifies NFTs on Bitcoin, a technological development that few would have predicted a year ago.

A Hacker Adds a New Feature to the Blur NFT Marketplace

A hacker, “Pink Drainer”, has found a way to enable private sales on the Blur NFT platform, a feature previously unavailable on the platform. By exploiting the royalty system, the hacker can purchase items for near-zero ETH, essentially making it a private listing on Blur. Despite its illicit origins, this technique might pave the way for legitimate private listings on Blur and even lead to the creation of a user-friendly interface that simplifies this process.

EA and Nike Announce Partnership for NFTs in Games

EA and Nike have revealed a partnership aimed at bringing select virtual assets from Nike’s Web3 marketplace platform, .Swoosh, to future EA Sports games. Although details remain sparse, we know that these assets will include virtual NFT footwear and apparel. This partnership aligns with Nike’s previously outlined vision that its virtual apparel could eventually be used in video games and “other immersive experiences”.

It’s another interesting week in the world of NFTs, encapsulating everything from high-value auctions to technological breakthroughs, and underlining the continuing creativity and innovation in this space.

What’s Your Take Bitcoin NFTs?

We ❤️ Feedback

We would love to hear from you as we continue to build out new features for Lazy! Love the site? Have an idea on how we can improve it? Drop us a line at info@lazy.com