The Jasti Interview, Art Blocks, CryptoPunks & More
🎙️ 15-Year-Old Artist Jasti on the New NFT Generation
What were you up to at age 15? Most likely not making six figures selling crypto art, but that’s exactly where Jaiden Stipp (AKA Jasti) has found himself after gaining the attention of blue chip artists like Fewocious.
In our latest podcast episode, Jasti recalls having to convince his parents that his crypto earnings were real and explores how his young generation views NFTs. “There are kids like me who understand it and accept it,” he explains. “We believe it’s going to be really the next thing. But there’s a huge demographic… that do believe NFTs are bad because they’ve seen all the energy usage that has been misportrayed by the media.”
Be sure to hit subscribe and watch the full episode here.
📈 Art Blocks On the Rise
Art Blocks is having a moment. The generative art project has experienced a market surge with more than $21 million in sales volume over the past week (up 135%).Nine of the project’s top ten highest sales took place during that period, totaling more than 728 ETH ($1.7 million), as a handful of well-heeled collectors (most notably Vincent Van Dough) competed to snatch up coveted pieces from the Fidenza, Chromie Squiggle and Ringers series.
In an effort to combat the gas wars that have plagued new project drops, Art Blocks founder Snowfro also announced that the latest drop from Rafaël Rozendaal would implement a dutch auction for the first time. Under the new format, 50% of proceeds go to the artist and 50% go to charity (after Art Blocks’ 10% fee) until the mint price settles to the artist designated price. “As you can imagine, we are tired of seeing 2-5x of the price set by the artist going to the miners,” he explained.
With a strong legacy and active community (see SquiggleDAO), Art Blocks will likely continue to carry strong investment potential going forward — particularly in its projects featuring lower mint counts.
🔥 CryptoPunks Heating Up
Don’t look now, but the CryptoPunks floor price has climbed to more than 25 ETH. The project’s sales volume is up by more than 239% over the past month and the number of monthly sales has more than doubled from June.
Expect this trend to continue after today’s events. Entrepreneur Gary Vaynerchuk just dropped nearly $3.8 million on a rare ape punk this afternoon, spurring a sales frenzy that saw another ape sell for nearly $5.5 million. Superstar DJ/producer Steve Aoki also purchased a punk yesterday, and it’s now reaching more than 8 million followers as his Twitter avatar. As the consensus OG avatar project, CryptoPunks remains one of the NFT space’s safest bets as a longterm store of value.
💥 Quick Hits
Generative audiovisual project 0xDeafbeef has had a major week with more than $1.6 million in sales volume highlighted by three 100+ ETH sales for Entropy and Advection tokens.
Virtually Human Studio, the company behind digital horse racing platform Zed Run, announces a $20 million raise led by TCG and Andreessen Horowitz.
Decentraland partners with Coca-Cola to celebrate International Friendship Day on July 30 with a virtual party and auction atop a giant Coke can.
Christie’s reveals Furniture Unhinged collection with Misha Kahn billed as the “first-ever design NFT sale offered by a major auction house.”
Polish influencer Marta Rentel sells an NFT representing her love for $250,000 and plans to go on a dinner date with the buyer.
This newsletter is purely for educational purposes and is not financial advice or a solicitation to buy or sell any assets or to make any investment decisions. Please do your own research!