The Justin Aversano Interview, Cool Cats, Zombie Punks & More
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🎙️ Justin Aversano on Building CryptoPunk Billboards & IRL Community
On our latest podcast episode, photographer and SaveArtSpace founder Justin Aversano reflects on his Twin Flames project and community-elected Sotheby’s auction, as well as teaming up with GMoney to produce the CryptoPunk billboards that have appeared in NYC, Miami and London.
Aversano explains how NFTs have shifted the power balance in favor of creators and away from corporations and centralized platforms. “Now we’re moving from a likes-and-comments currency to an actual Ethereum-based currency which is more valuable for the long term sustainability of our creative exploration.”
Be sure to hit subscribe and watch the full episode here.
🐱 The Cool Cats Craze
The latest avatar project taking the space by storm is Cool Cats, a series of 9,999 generative cat NFTs that has moved more than $5 million in sales volume over the past week, second only to CryptoPunks.
Launched on July 1st with a fairly low 0.02 ETH ($42) minting price, the project now boasts an average price of 0.3 ETH (+1,500%) with a high sale of 19 ETH ($40,087). After Cool Cats began gaining buzz in the CryptoPunks Discord, notable artists and influencers hyped the project by changing their Twitter profile pictures to Cats. Even Mike Tyson bought one.
Do Cool Cats have staying power or are they just the latest flavor of the week? Time (and community development) will tell. The project roadmap promises to implement breeding in its second generation release, which could prove a high-risk, high-reward move in establishing longterm value.
🧟 Zombie Punks Rise
As the overall CryptoPunks market heats up, zombie punks emerged as the new bellwethers over the past week. Three notable zombie punk sales took place:
On July 1st, CryptoPunk #1119 sold for 400.04 ETH ($846,256 USD).
On July 4th, CryptoPunk #1886 sold for 450 ETH ($1,060,114 USD).
On July 5th, CryptoPunk #6297 sold for 520.69 ETH ($1,165,882), setting a new all-time high sales record for a zombie punk.
What’s driving the renaissance? A number of forces are at play. For one, the current generative avatar boom has proven the market appetite for the very type of NFT project that CryptoPunks was the progenitor of. All roads lead back to the OGs.
But it’s also indicative of a greater NFT bull market trend. After dipping below March’s previous high watermark in April and May, NFT sales volume on OpenSea reached a record high of nearly $150 million in June. Don’t look now, but fellow Larva Labs project Meebits is also seeing a sales volume surge. Better buckle up.
Credit: Reuters
💥 Quick Hits
Mark Cuban-backed NFT platform Mintable raised $13 million in Series A.
The Institute of Contemporary Art in Miami became the first major art museum to acquire a CryptoPunk for its collection.
SuperRare announced a new exhibition titled Unrealism in SpatialXR.
Generative audiovisual art project 0xDeafbeef completed its Series 5 Advection auction with more than 267 ETH ($571,751) in sales.
OG NFT project Mooncats launched its boutique wearables store.
Photographer Cath Simard received 30 ETH ($68,805) for a photo NFT titled ‘LE DÉPART’ that includes a five-day hosted trip in the Canadian Rockies.
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!
Check out my NFT collection at opensea.io/soulcraft if you'd like to collect high end art. My collections focus on the fragility and subsequent power of the feminine, and the expression of the immaterial within.... held in a beautiful dance with Mother Nature.