Blur Season 2 is ending on 20 November
How will this impact the BLUR token?
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Today we’re back to our usual programming, covering:
Winds of Yawanawa surges in price. Why?
Blur Season 2 will end on 20 November. How will this impact the token price?
Our favourite tweets on NFTs and gaming
Is WoY the next Fidenza?
Floor Price of Winds of Yawanawa (Source: OpenSea)
Winds of Yawanawa (WoY) by Refik Anadol has been stealing the limelight this week. It’s not every day that a generative art collection catapults to the top of the leaderboards, above our favourite PFP collections like Mutant Apes, but that’s exactly what WoY did.
Over the past 7 days, its floor price has doubled from 6.5 ETH ($10,000) to 13 ETH ($20,000), indicating of robust demand. Why? Refik is one of the most celebrated artists in the space. One of his artworks, Unsupervised, was acquired by MoMA last week and will be in its permanent collection.
❤️🔥 Winds of Yawanawa ❤️🔥
I’m in love with the Story as much as I am the Art
Picked up this Grail with Sphere Particles earlier today 🙏
Thank you @refikanadol
— Dr. Diamond (@DrCharlesButler)
Oct 11, 2023
And there’s a story behind WoY. Refik uses weather data (wind speed, temperature etc) from the Yawanawa tribe in the Amazon rainforest to create mesmerising, dynamic data paintings in his signature style.
2 years on… Could WoY actually be the “next Fidenza”? Time will tell.
Blur: We Have a Date on 20 Nov
Probably the most interesting announcement last week has to be Blur finally setting a date: Season 2 will finally end on 20 November.
How could this impact the BLUR token? Here’s out take:
The end of Season 2 will lead to 300M+ BLUR tokens being distributed as rewards to Season 2 participants. Some of the large farmers (Hanwe, CBB) will likely receive a a substantial share of the rewards (~30%).
The current circulating supply for BLUR is ~1 billion. So the end of S2 will result in a 30% increase in circulating supply: potentially ~$50M in sell pressure if all farmers sell their rewards
Many farmers have had a tough run with Blur farming. NFTstats.eth did an analysis on how farmers are down 50,000 ETH ($75M+) from Blur farming. It’s reasonable to expect that many will sell the token to partially recoup their heavy losses.
People buying NFTs via bids on Blur -- mostly airdrop farmers -- are down about 50,000 ETH year-to-date in realized losses.
While returns were pretty flat during Season 1, the losses accelerated sharply in Season 2.
— NFTstats.eth (@punk9059)
Aug 4, 2023
What does the token actually do? There is no utility for the BLUR token today, except for governance rights. Blur currently lacks a revenue-generating mechanism and doesn't have a community treasury, raising questions about the token's intrinsic value.
However, this could change soon. Arca, a digital asset fund, put up a proposal last week to turn on the fee switch. In the proposal, Blur would charge a 1% fee on all trades and use the fees to buy back and burn BLUR tokens. Essentially, this would be a revenue sharing mechanism and will provide support for BLUR price.
Today, Arca submitted a forum post to the Blur governance forum to turn on the Blur fee switch
When $BLUR was first released in 02/23, the tokenomics outlined a 180-day freeze on governance voting in a fee switch on the platform (freeze now expired). 1/x
— Sasha Fleyshman (@ArcaChemist)
Oct 12, 2023
So far, the community has been divided on this issue. Some have expressed concerns over the timing of the fee switch:
Users’ price sensitivity to fees is at an all-time high
Fees could chase farmers away and reduce liquidity even more
Would it be better to wait till markets start to recover first before implementing fees?
My response to @arca's proposal to turn on the fee switch for @blur_io and do a daily buyback-and-burn for $BLUR
A topic worth debating.
— Teng Yan 🥕| Delphi (@0xPrismatic)
Oct 13, 2023
Even if not implemented any time soon, it’s worth thinking about how to build value drivers for the BLUR token, and when should fees be implemented. NFT markets are in a fragile state today, and one wrong move could see Blur fall out of the game. Achieving that fine balance between short-term gains and long-term sustainability is a tough challenge. Blur’s fate is on the line.
Our Favourite Tweets
🐥 The Pudgy Penguins team works 14 hour days. Dedication
After spending the last 3 months working every day and night on the new Pudgy World updates, I would like to point out a few little features we are pushing out today. I might also go a little bit into what's next, and briefly explain the reasonings behind some decisions. 🧵🧵🧵👇
— davidbailey.eth (@davidbailey_eth)
Sep 26, 2023
🐥 Is acquiring an OG NFT project IP the way to go?
We've seen a lot of NFT projects being acquired lately.
Pudgy Penguins, 0N1 Force, Hape Prime and now Gutter Cat Gang.
New leadership, new teams and a new vision.
Is this a good path for these projects?
— wale.swoosh 🐳 (@waleswoosh)
Oct 10, 2023
🐥 Web3 gaming will absolutely own Free-to-Play games
F2P Live operated games are putting so much pressure on AAA paid games they’re forcing AAA to adopt F2P like tactics.
Web3 gaming will do the same to F2P.
— Gabriel Leydon (FREE,OWN) (@gabrielleydon)
Oct 3, 2023
🐥 Axie Infinity still has 100,000+ MAUs today
In the depths of a bear market @AxieInfinity continues to push the needle forward and lead by example.
100k active monthly players 🤝
136k Axies traded in the last 30 days 🤝
18k unique wallets trading in the last 30 days 🤝
Web3 gaming is inevitable and @Ronin_Network is… twitter.com/i/web/status/1…
— Phin 🎮 (@Phin_totten)
Oct 9, 2023
🐥 BIGTIME launches with a bang. Is launching a token the best marketing strategy for a game?
Is this the best marketing strategy in web3 right now?
@playbigtime launched their token together with the pre-season of their game.
→ players enjoy the game
→ token has utility ingame
→ CB listing
→ fair launch of the token
Everyone is talking about them and the token is… twitter.com/i/web/status/1…
— apix🎮 (@apixtwts)
Oct 12, 2023
🐥 Nouns are into gaming too
just so you know, Nouns Dao has an esport branch and now their team is playing the most prestige dota 2 tournament and winning, that's crazy
— hyperstructured.greg 🇺🇦 (@youfelll)
Oct 13, 2023
🐥 Polygon shrewdly dropped a proposal for use its L2 solution to build ApeChain, a dedicated blockchain for the Ape ecosystem
Gm. ☕️ (don’t skip this one)
ApeChain is LONG overdue! 🍌
… and the time is NOW! ⏰
We are calling on the community to make it happen. 🤝
Here are 2 AIPs that are now posted for vote on this topic!
The first AIP proposes that ApeCoin DAO develop and maintain its own… twitter.com/i/web/status/1…
— CaptainTrippy.eth 🍌 (@CapetainTrippy)
Oct 10, 2023
🐥 OpenSea launches its creator studio, taking on Manifold and other similar creator platforms
Your NFTs, your way.
Introducing OpenSea Studio, a one-stop shop for creators to launch and manage their projects. All on the world’s largest NFT marketplace.
Learn more! 🧵👇
— OpenSea (@opensea)
Oct 3, 2023
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