Goblin Town - No Utility - $7 Million In Sales?

Hello readers, great to see you back for our 4th edition of Morning NFTea. We have some interesting stuff from the NFT world so let's jump into it.

eBay Launches a NFT Collection

eBay is one of the original Web2.0 companies founded all the way back in 1995, and now they are launching their “Genesis” NFT collection in partnership with the Web3.0 platform OneOf. This collection is following the $3.75 million dollar record-breaking sales of Wayne Gretzky hockey trading cards, and these NFTs will include 13 versions of the hockey star with up to 299 editions, each in green, gold, platinum, and diamond tiers. eBay says they have been looking into NFTs due to the surge in the collectibles market over recent years. “Through our partnership with OneOf, eBay is now making coveted NFTs more accessible to a new generation of collectors everywhere,” said Dawn Block, the Vice President of collectibles at eBay. As recently covered on MorningNFTea, coming off the back of the Instagram and Spotify news, eBay is just another major company experimenting with NFTs on its platform, and ever-increasing NFTs exposure to the public eye.

Bitcoin Pizza Day

Bitcoin Pizza Day just happened on May 22nd. If you haven't heard about this day, it is celebrated because in 2010 a programmer bought pizza using bitcoin and it is widely agreed as the first transaction using a cryptocurrency. That pizza which at the time cost 10,000btc worth about $41, at today's price would be worth over $290 million. This day is celebrated among the crypto community, and despite the red days we have all been having within our NFT and crypto world, it's important to zoom out and notice how far the space has come. Pizza day represents the initial days of the blockchain, and we are still definitely in the initial days of NFTs.

Beeple Twitter Hack

On morningNFTea we recently covered the NFT collaboration between Madonna and one of the NFT godfathers; the artist Beeple who was responsible for that $69 million dollar NFT sale back in 2021. Unfortunately, Beeple’s Twitter Account was hacked and through a series of “raffles” which were actually phishing scams, the hackers were able to steal more than $400,000 in NFTs and Crypto from the artist's followers. The attack claimed to be a collaboration with Louis Vuitton, which was plausible given Beeple's work with them in 2019, but in this new emerging space it is crucial people stay more vigilant on things that may be too good to be true. The best education is exposure to what these scams look like. Always triple-check before connecting your wallet to anything. We need to stay safe out there fam.

Sports Team NFTs

You probably haven't heard of the Western Sydney Wanderers, an A-league football club from Australia, but they are one of the first sports teams to embrace NFTs and offer exclusive fan experiences with the new technology. The 250 uniquely designed NFTs are in partnership with JPEX and will be given away to fans. Ownership of the Silver and Gold range NFTs will give signed jerseys, passes to games, access to corporate boxes, and meetups with players. This is yet another great example of how NFTs are rewarding communities and revolutionizing what can be done past just being used for profile pictures.

No Roadmap. No Discord. No Utility

A new 10k project ‘Goblin town’ was one of the best selling over the weekend with over $7million in sales, what makes them special? Good question, no one is quite sure. These goblins were minted for free, and their website quotes “No roadmap. No Discord. No utility, Contract wasn't actually written by goblins.” Despite this, they reached a floor price of 0.75eth yesterday. There are rumors of a well-coordinated, established team behind the scenes, even being connected to Yuga labs, the ones behind the most popular collections BAYC and CryptoPunks, but moderators of BAYC discord have denied the connection. With the NFT sector being hit hard this week, it's still interesting to see plenty of life out there for NFT projects, and ’Goblin town’ is a peculiar case with its surprisingly successful plan of having no plan.

Thanks for reading through the latest round-up of NFT stories, hope you have a great next couple of days and we will see you soon with another edition of MorningNFTea!

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DISCLAIMER:

None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.