This week’s featured collector is NFcubedT

NFcubedT’s is an “Artist. Daydreamer. Schemer of Silliness.” Their collection of whimsical hand-drawn NFTs grabbed our attention. Take a look at lazy.com/NFcubedT

How has your own approach to collecting or trading NFTs changed recently?

Last week’s poll explores how Lazy.com users’ behaviors regarding collecting or trading NFTs have shifted recently. The results reveal a significant cooling off in activity within the NFT space. The majority of respondents, 63%, indicated they are currently “on hold,” suggesting they have paused their involvement in NFTs for the time being. Another 13% said they “sold off most of [their] NFTs,” indicating a strategic exit or liquidation of their digital assets.

Interestingly, only 25% reported that they are “still very active,” showing that a small but committed portion of the community continues to engage enthusiastically with NFTs. Notably, no respondents selected “I’ve become more selective,” which could imply that those still involved are maintaining prior levels of activity rather than refining their strategies. Likewise, no one selected “I was never involved in NFTs,” suggesting that all respondents have at least some past experience in the space.

Overall, the poll reflects a cautious sentiment dominating the NFT market among the respondents, with the bulk either stepping back or fully divesting, and only a minority actively participating.

A Fresh Vision for NFT Regulation: A New Path Forward for Digital Collectibles and Creative Innovation

Andreessen Horowitz (a16z), a prominent venture capital firm deeply embedded in blockchain and web3 space, has proposed significant regulatory reforms to the U.S. Securities and Exchange Commission (SEC) regarding NFTs. This forward-looking initiative, submitted in March 2025 to the SEC’s Crypto Task Force, specifically addresses the current legal uncertainties faced by NFT creators, collectors, and trading platforms.

The current regulatory framework was not crafted with digital collectibles in mind. These digital assets—ranging from digital art and music to gaming assets and physical redeemables—serve primarily as proofs of ownership or unique rights rather than financial instruments. The absence of clearly defined regulatory parameters has, however, resulted in confusion and apprehension within the industry. Creators face significant uncertainty about launching new projects due to fear of potential enforcement actions, such as the notable SEC case against Impact Theory in 2023. These concerns often push NFT creators to either halt their projects entirely or seek safer regulatory environments offshore, stunting the growth of digital innovation within the United States.

To address this critical issue, a16z suggests a dual approach. First, they propose a safe harbor rule—a framework clearly defining when NFTs should be exempt from securities regulations. According to their recommended criteria, NFTs eligible for this exemption must represent a specific, unique, and verifiable asset, not grant any ongoing financial interests in the creator or third-party enterprises, and avoid marketing as investment vehicles promising financial returns.

The suggested safe harbor aims to harmonize with the foundational principles of the Howey test, a benchmark used to assess whether transactions qualify as investment contracts under securities laws. If NFTs demonstrate clear intrinsic utility or value from inception, and creators avoid promoting financial gain based on their own or third-party future efforts, such tokens should rightly fall outside securities regulation.

For projects that naturally lie beyond this safe harbor—especially those using NFTs explicitly to fund future creative ventures—Andreessen Horowitz advocates establishing a tailored crowdfunding regulatory pathway. Current crowdfunding regulations such as Regulation CF or Regulation A+ impose extensive financial disclosures ill-suited for artists and creatives whose projects pivot more around artistic vision than detailed financial projections. Thus, the proposed new crowdfunding model for NFTs would streamline compliance requirements, ensuring creators provide essential disclosures relating specifically to the rights and utilities attached to their tokens, without burdensome financial detail irrelevant to artistic endeavors.

This nuanced crowdfunding pathway would stipulate conditions clearly distinguishing creative patronage from securities-like transactions, including limited funding amounts, clearly defined creative scopes, and potentially a redemption period for investors. This model, akin to successful platforms like Kickstarter, enhances the patronage experience by granting collectors lasting digital ownership or rights.

In presenting their proposals, a16z underscores NFTs’ broader potential and inherent value to digital commerce and community building. NFTs empower creators by enabling direct monetization of their works without traditional intermediaries. Collectors benefit from transparent, verifiable digital ownership, scarce digital assets, and potentially valuable perks or experiences. Diverse applications across digital art, music, gaming, sports collectibles, and even physical asset tokens reflect the versatile, robust nature of NFTs as cultural and community-building instruments.

Moreover, a16z emphasizes the urgency of updating regulatory frameworks to match digital economy advancements. NFTs uniquely embody economic independence, deriving intrinsic value from the underlying assets rather than ongoing issuer activities—contrary to traditional securities. The risk is that overly stringent regulation, not reflective of the distinct nature of NFTs, may inadvertently encourage creators to detach from community engagement post-sale, ironically hindering artistic and commercial innovation.

The rise of artificial intelligence further emphasizes the need for updated regulatory approaches, as NFTs can safeguard creator ownership and compensation rights amid proliferating generative content technologies like DALL-E and Midjourney. Blockchain-enabled NFTs and smart contracts provide transparent and enforceable digital rights management solutions, preserving creators’ control and compensation mechanisms in an increasingly decentralized digital environment.

Looking forward, the proposed regulatory reforms offer a promising framework to clarify distinctions between collectible tokens and securities, potentially boosting innovation and consumer confidence within the NFT market. However, establishing such nuanced guidelines involves careful balancing—too stringent rules may stifle creative experimentation, while overly lenient regulations might leave consumers vulnerable. Thoughtfully implemented, clear and flexible regulation could empower creators and collectors alike, fostering sustainable growth and safer participation in the rapidly evolving NFT cultural landscape.

Read the full letter here.

Do you support a16z’s NFT reform proposals?

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This week’s featured collector is gillinghammer

Gillinghammer’s motto is “be water.” We love the vibe. Take a look at their collection at lazy.com/gillinghammer

Are NFT Vibes Improving?

Last week’s poll asking “Are NFT Vibes Improving?” shows a notable shift toward optimism in the space. A clear majority—54%—believe that the vibes are indeed getting better, signaling renewed energy, confidence, and possibly a rebound in community enthusiasm or innovation. Only a small minority (8%) expressed skepticism, while 38% said they weren’t sure. This suggests curiosity or cautious observation rather than doubt. Overall, the results point to a positive trend: momentum is building, sentiment is warming, and the NFT community seems to be entering a more hopeful phase.

NFTs Reinvented: How Recent Market Shakeups Pave the Way for True Innovation

After years of dramatic peaks and steep valleys, non-fungible tokens (NFTs) appear to be in yet another transitional phase. Several high-profile NFT platforms—including Bybit, X2Y2, Kraken, LG Art Lab, and Nike-owned RTFKT—have either fully shut down or pivoted toward other ventures. For many collectors, these closures feel like the end of an era. Yet, anyone who has witnessed multiple cycles in crypto knows that from disruption often comes reinvention.

A Shifting Landscape

Bybit’s sudden exit—and its suggestion that the February hack for over a billion dollars played a role—adds to the series of market departures. X2Y2, which once boasted billions in total trading volume, is winding down operations to pivot toward AI. Similar stories emerged at Kraken and RTFKT, while LG likewise announced the closure of its own NFT marketplace in June.

At first glance, this wave of departures might look dire for NFT enthusiasts who still believe in the technology but have grown wary of relentless hype. After all, floor prices for marquee collections like CryptoPunks and Bored Ape Yacht Club have dropped dramatically from their peaks—further fueling a chorus of critics pronouncing NFTs “dead.”

Yet, the more meaningful takeaway lies in what these platforms are doing next. Kraken is reassigning resources to “new products and services.” X2Y2 and others are exploring AI, effectively transitioning from short-lived speculation to building future-facing technology with real utility. For all the gloom around declining trading volumes and battered floor prices, these moves reflect a market that is maturing and recalibrating rather than simply collapsing.

Looking Beyond the Hype

Back in the NFT bull run, collectors and creators alike benefited from near-instant liquidity and white-hot speculation. That speculative fervor attracted opportunistic actors but also encouraged meaningful experimentation. We’re now entering the phase where reckless speculation is cooling, making room for sustainable, utility-focused projects.

Builders in NFT gaming, music, art, collectibles, and tokenized real-world assets continue to see significant potential in NFTs. Even as some marketplaces disappear, new token standards, improved user experiences, and cross-chain integrations are rolling out. In a sense, the same slump that spooked so many speculators is the lull that serious developers have been waiting for—a chance to innovate in relative calm without the pressure to chase quick profits.

From Collectibles to Practical Applications

One recurring theme is the push toward real-world utility. Instead of dropping collections purely for bragging rights, developers are integrating NFTs into games that offer immersive experiences, platforms that tokenize intellectual property, and membership systems providing tangible benefits. Some sports teams and fan engagement apps, for example, rely on NFT-based systems to verify ownership or grant exclusive access to content. These use cases represent a deeper shift: NFTs are increasingly recognized as a powerful data and ownership mechanism rather than just digital collectibles.

The pivot toward AI also holds promise. By combining intelligent algorithms with NFT mechanics, projects can unlock dynamic art that evolves over time, create game characters whose traits are trained by AI, or roll out data-driven marketplaces that reward creators more fairly. This marks a step toward more interactive, efficient, and perhaps more ethical digital ecosystems.

Three Reasons for Optimism

1. Cycles Are Normal: Crypto has weathered many bullish and bearish cycles. Each time, projects with flimsy foundations fade, while those committed to real value endure and adapt.

2. Growing Utility: Whether it’s blockchain gaming, token-gated communities, or AI-driven NFT innovation, meaningful use cases for NFTs continue to expand. Even if volumes appear to shrink, real utility often brings more resilient growth.

3. Mature User Base: Many collectors now prioritize substance over spectacle. That’s a good sign. A healthier market rewards projects that deliver enduring value rather than short-term hype.

Conclusion: Reinvention on the Horizon

NFTs aren’t going away; they’re being reimagined. While it’s easy to see Bybit’s shutdown and a host of others retreating as a sign of impending doom, the pivot signals a broader recalibration of the market. For weary collectors, that’s a reason for cautious optimism: fewer poorly planned projects and a renewed emphasis on genuine utility will likely help NFTs evolve into more secure, engaging, and valuable digital assets.

Those who remain in the space, undeterred by sensational headlines, can look forward to an ecosystem better equipped to handle real-world challenges—thanks in part to AI, more rigorous standards, and a base of collectors committed to long-term innovation. Far from being the final chapter, this phase may just be the prelude to NFTs’ most transformative era yet.

How has your own approach to collecting or trading NFTs changed recently?

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This week’s featured collector is allinred

Allinred is a concept artist. Take a look at their collection at lazy.com/allinred

What do you think of the proposed Pudgy Penguins NFT ETF?

Last week’s poll reveals a mixed reaction to the proposed Pudgy Penguins NFT ETF. The majority of respondents, 45%, expressed indifference, selecting “Meh,” indicating a lack of strong enthusiasm or dislike. Meanwhile, 27% of participants indicated enthusiasm by choosing “I love it!” while an equal percentage, 27%, selected “I’m not sure,” suggesting uncertainty or a need for more information. Notably, none of the respondents explicitly disliked the idea, as indicated by the 0% selection for “I hate it!” This suggests that while interest is moderate, there is minimal outright opposition to the proposal.

Are NFT Vibes Improving?

The recent article, “Is a Crypto-Friendly Administration Igniting New Passion for NFTs?” by Jiayin Chen, explores how NFTs have become intertwined with current political dynamics, sparked by recent administrative changes in the U.S. government.

Chen highlights the volatile crypto market under the new U.S. presidency, noting Bitcoin’s dramatic fluctuation—from an all-time high of $108,000 to as low as $79,000—and Tesla’s temporary stock price surge. One particularly striking development was FTX’s surprising comeback from bankruptcy, repaying customers at 119 percent of their original claims, offering better returns than traditional savings accounts. This recovery symbolizes broader optimism brought by David Sacks, appointed crypto czar, and the administration’s bold plans for a “Strategic Bitcoin Reserve” aiming to position the U.S. as the world’s crypto hub.

A vital thread of the narrative is the unintended politicization of NFTs. Chen notes, “NFTs, still a major use case of cryptocurrency, have become somewhat inadvertently entangled with the political sentiments now dominating the crypto space.” A long-time anonymous collector describes the perception issue candidly: “The first thing Trump did after the election was issue his own coins and made hundreds of millions from it. It’s a bad look for the industry, and it made people see everyone in the space through the same lens.”

Despite political and reputational challenges, NFTs are witnessing a revival. High-profile sales like Sam Spratt’s “X.Masquerade” fetching $3 million and Christie’s successful “Augmented Intelligence” auction indicate renewed enthusiasm. Established NFT communities like CryptoPunks have continued to thrive; their sales exceeded $200 million even during quieter market periods. Niftynaut, a CryptoPunks collector, sharply notes the market saturation: “Most projects are destined for irrelevance. Outside of the true innovators, what we saw was an endless parade of derivative cash-grabs with no meaningful innovation, purpose, or creativity.”

Institutions are increasingly investing in digital art, reflected in initiatives from prominent museums like the Met and Tate Modern, along with investment entities such as Hivemind Capital’s Digital Culture Fund. Matt Zhang, Hivemind’s founder, observes an eventual maturity in market perception: “Over time, we expect digital art to become less tied to crypto cycles—especially as more collectors, museums, and institutions treat it as part of fine art.”

However, technical infrastructure remains a significant challenge. Jason Bailey (Artnome) highlights the risk to digital art preservation, warning of lost access when Web3 companies fail: “Every single image from those 1990s websites is broken because over time, people stop paying for storage…The same thing could happen with NFTs.”

Conclusively, the new administration’s classification of NFTs as “collectibles” regulated by the CFTC signals industry-friendly intentions, yet uncertainty remains. Bailey encapsulates the cautious optimism: “Right now, with heightened global instability and volatility, markets in general are reacting cautiously. However, there is also potential for progress.”

To fully grasp the complexities and implications discussed, readers are highly encouraged to explore the original insightful article in depth.

Learn more at ArtNet.

What do you think: are NFT vibes improving?

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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

This week’s featured collector is blueraccoon

Blueraccoon is a collector of nostalgic NFTs. Check it out at lazy.com/blueraccoon

The One NFT You Can Keep… Imagine a wild scenario: All but ONE of your NFTs will vanish forever. Which type are you saving?

In a fascinating poll, NFT enthusiasts were asked to make an impossible choice: If all but ONE of their NFTs would vanish forever, which type would they save? The results reveal some intriguing priorities and hint at what really matters most to collectors.

Here’s how the votes stacked up:

• Favorite 1/1 Art NFT (50%) – Art holds the crown, proving that uniqueness and personal connection often outweigh financial value.

• OG Blue-Chip NFT (25%) – A solid quarter of voters would cling to their blue-chip classics, emphasizing the importance of legacy and prestige.

• The One Worth the Most ETH (25%) – When push comes to shove, the value in the market still speaks volumes to many.

• A Completely Random One (0%) – Unsurprisingly, pure randomness didn’t earn much love. It’s all about meaning and worth.

The verdict? While market value and status are important, the emotional and creative connection of unique art NFTs ultimately reigns supreme. It’s a reminder that despite all the financial speculation, the NFT space is still driven by personal passion and artistic expression.

Breaking New Ground: The First NFT ETF is Coming

Exciting news for NFT enthusiasts—asset manager Canary Capital has officially filed to launch a exchange-traded fund (ETF) holding that holds NFTs. In this case, the ETF would hold Pudgy Penguins NFTs along with the PENGU governance token. If approved, this innovative ETF would become the first U.S.-based ETF to directly hold NFTs, marking a significant milestone for digital asset integration into traditional financial markets.

According to U.S. regulatory filings, the ETF will not only hold spot PENGU tokens but will also directly invest in various Pudgy Penguins NFTs. Additionally, the fund will maintain holdings in essential digital assets, including Ethereum (ETH) and Solana (SOL), necessary for transactions involving PENGU and Pudgy Penguins NFTs.

This filing by Canary Capital arrives amid a broader wave of ETF proposals seeking exposure to cryptocurrencies, including Sui, XRP, and SOL, as well as prominent memecoins. While some analysts question the mainstream uptake of ETFs tied to less-established cryptocurrencies, this ETF could play a pivotal role in attracting traditional investors to the NFT market.

What could this NFT ETF mean for the future of NFTs? Approval of Canary Capital’s ETF would symbolize mainstream institutional acceptance and could potentially drive increased liquidity, market stability, and broader investor participation in NFTs. It could serve as a significant validation of NFTs as valuable, investable assets worthy of inclusion in diversified portfolios.

Stay tuned as we follow these exciting developments closely. The NFT space continues to evolve, and landmark moments like this could shape its trajectory significantly.

Learn more at CoinTelegraph.

What do you think the proposed Pudgy Penguins NFT ETF?

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

This week’s featured collector is clairvoyantart

clairvoyantart is a collective of artists and their collection is wild. Check it out at lazy.com/clairvoyantart

What does the SEC’s decision on Yuga Labs mean for NFTs?

The poll results reveal mixed sentiments about the SEC’s decision on Yuga Labs, highlighting uncertainty rather than a strong industry-wide reaction. The top responses—helpful regulatory clarity (33%), bullish sentiment (33%), and not much impact (33%)—suggest that while some see the decision as a step toward clearer guidelines, others believe it won’t significantly alter the NFT landscape. Notably, no respondents viewed it as a major validation for the NFT industry or a catalyst for innovation, indicating that the ruling is seen more as a procedural development than a game-changer. This split underscores how regulatory moves in the NFT space continue to be subject to varied interpretations and expectations.

Learn How to Build Your Own NFT Trading Card Game

If you’ve ever imagined what Pokémon TCG would look like as an NFT game, then you need to check out this incredible tutorial by Thirdweb. They walk you through the entire process of creating a fully functional NFT trading card game from scratch. In this tutorial, you’ll learn how to mint NFT cards, create customized card packs, and even sell them on a blockchain marketplace. By the end, you’ll have a complete Web3-powered application with smooth animations, dynamic visuals, and a trading system that allows players to collect, open, and sell card packs seamlessly. Whether you’re a developer curious about blockchain gaming or a creator looking to launch your own NFT project, this tutorial is packed with insights.

One of the best things about this tutorial is that Thirdweb makes the entire process easy to follow, covering both smart contract deployment and frontend integration. You’ll start by deploying an ERC-1155 contract for your NFT collection, add unique attributes to each card, and then set up a pack contract to bundle NFTs into collectible packs. After that, you’ll learn how to list these packs for sale using a marketplace contract, allowing users to buy, sell, and trade their NFT cards. Finally, the tutorial walks you through building a beautiful, interactive frontend, giving users a seamless experience to manage their collections, purchase packs, and reveal new cards.

So if you’ve been looking for a practical way to dive into NFT gaming, this tutorial is the perfect place to start.

Watch the tutorial here.

The One NFT You Can Keep… Imagine a wild scenario: All but ONE of your NFTs will vanish forever. Which type are you saving?

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

This week’s featured collector is imdfnman

imdfnman has a large collection of Ethereum NFTs. Check it out at lazy.com/imdfnman

What comes next for NFTs?

Last week’s poll asking “What comes next for NFTs?” revealed intriguing insights into the community’s expectations. A decisive majority (57%) anticipates AI playing a pivotal role by taking over NFT production, hinting that algorithmic creativity might soon step into the spotlight. Meanwhile, predictions of a creative renaissance, NFTs going mainstream, or even fading out entirely each captured 14%—showcasing a lively debate about the future trajectory. Interestingly, no participants foresee a “major resurgence,” reflecting a cautious outlook rather than outright optimism. Yet, the poll underscores a vibrant curiosity around NFTs’ evolution, signaling that, regardless of direction, innovation and creativity will remain center stage.

SEC’s Yuga Labs Decision: A Big Win for the Future of NFTs

The NFT community just received major news: The U.S. Securities and Exchange Commission (SEC) has officially closed its investigation into Yuga Labs—the creator of the iconic Bored Ape Yacht Club (BAYC)—without any enforcement action. This decision isn’t just good news for Yuga Labs; it’s a landmark moment for NFT creators and collectors alike.

For those who’ve been watching closely, Yuga Labs had been under scrutiny since 2022, with regulators questioning whether NFTs and ApeCoin distributions violated securities laws. The SEC’s decision to close this case underscores something industry advocates have argued for years: NFTs fundamentally differ from traditional securities.

Greg Solano, Yuga Labs’ CEO, called this a “huge win,” emphasizing its significance for “all creators pushing our ecosystem forward.” It’s an encouraging sign that could help foster greater innovation in the NFT space, reassuring creators and collectors about the legal status of NFTs.

However, the bigger story here is nuanced. Despite this regulatory win, the market dynamics tell a different tale. While Bored Ape Yacht Club NFTs briefly saw a floor price spike after the announcement, jumping nearly 4% in a single day, they remain far from their peak. Today, Bored Apes are down approximately 91% from their all-time high nearly three years ago.

This disparity between regulatory optimism and market reality highlights the continuing NFT bear market.

Meanwhile, Zora—another innovative player in the NFT and crypto ecosystem—recently announced its upcoming “for fun only” memecoin on the Optimism-based Base network. Zora’s move, marked by a substantial airdrop planned for spring 2025, exemplifies a contrasting yet complementary trend: tokens designed explicitly without governance claims, meant purely for community enjoyment and engagement.

Zora’s strategy signals a fresh wave of NFT and token creativity, where fun, community-driven experiences are prioritized. This move might inspire more platforms to experiment similarly, emphasizing genuine community participation over traditional financial incentives.

The takeaway? While regulatory clarity is undoubtedly beneficial, the future of NFTs depends increasingly on authentic innovation and community-centric projects. Both Yuga Labs’ regulatory milestone and Zora’s playful new initiative point toward a maturing NFT market—one where creativity, community, and clarity coexist to propel the space forward.

NFT collectors and creators alike should view this SEC decision not just as a victory for one brand but as validation for the entire industry—an encouraging signal to keep pushing boundaries, innovating, and engaging authentically with the growing NFT community.

Learn more at Decrypt and The Block

What does the SEC’s decision on Yuga Labs mean for 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