The Historical NFT Speculation & Appreciation Thread

[o48o]

Bored Ape Yacht Club gets flipped by CryptoPunks:

An exciting development in the world of Historical NFTs.

Even though I own neither, its worthy of a mention.

https://decrypt.co/107911/cryptopunk-ethereum-nfts-floor-price-flips-bored-apes-for-first-time-in-5-months



On Aug. 19, the average price and floor price of CryptoPunks, recognized as the first truly popular 10k PFP NFT collection (2017), briefly overtook the same metrics from Bored Ape Yacht Club (2021), representing a shift in market appreciation from projects with social media-driven clout to those with historical provenance.

Since we are talking current historically significant turning points of NFTs, have you by any change taken a look new Ethereum Implemention Proposal eip-5606?
That could be another turning point point for NFTs and seems very interesting.

Here are some links for it:
https://eips.ethereum.org/EIPS/eip-5606
https://ethereum-magicians.org/t/eip-5606-multiverse-nfts-for-digital-asset-interoperability/10698
https://www.youtube.com/watch?v=PajykC_RV9Q

[nutildah]

Since we are talking current historically significant turning points of NFTs, have you by any change taken a look new Ethereum Implemention Proposal eip-5606?
That could be another turning point point for NFTs and seems very interesting.

Not really relevant to the scope of this thread... involves turning new NFTs into newer NFTs for the sake of metaverse-related platforms on Ethereum. TBH I don't really care about what goes on with Ethereum. Its far too expensive for NFT gaming, for the most part.

I saw the rise of games like Axie Infinity and Zed Run whose gamepiece NFTs are still way overpriced. I think Decentraland is probably the best metaverse out there, but land parcels remain ridiculously overpriced and most of what people have built is advertisements for NFTs. Not to say it won't be more widely trafficked in the future but for now its kind of a ghost town.

https://twitter.com/dogermint/status/1520014209978826752

[o48o]

Not really relevant to the scope of this thread... involves turning new NFTs into newer NFTs for the sake of metaverse-related platforms on Ethereum. TBH I don't really care about what goes on with Ethereum. Its far too expensive for NFT gaming, for the most part.

I'll give you that Eth is too expensive to use (for the moment at least). But i see the overall development interesting and could be rather easily adapted by others too. Importance of speaking about eth is relevant imho as the whole current concept has been mainly developed from erc-721 and just implemented to other chains. This is why i am interested in innovations in tech happening in this sector. Even if that would be happening mainly in Eth layer 2 only.

I saw the rise of games like Axie Infinity and Zed Run whose gamepiece NFTs are still way overpriced. I think Decentraland is probably the best metaverse out there, but land parcels remain ridiculously overpriced and most of what people have built is advertisements for NFTs. Not to say it won't be more widely trafficked in the future but for now its kind of a ghost town.

Agreed. In fact all current non-fungible implementations that i have seen are mainly smoke and mirrors. And some of the future innovations dealing with real world assets requires tech that doesn't exist yet, mainly because lack of auditable confidential smart contracts that has privacy baked in L1.

This is why i am personally am skeptic that this revolution would continue to happen in eth2.0 but as it has most developers it has a change.

But now i'll tune off my rant as this might get too much off the topic.

[jkoil]

NFT rising?

https://news.bitcoin.com/nft-market-sales-climb-16-higher-43-48-increase-in-buyers-in-third-week-of-2023/

"The blockchains that saw the largest seven-day gains in terms of NFT sales were Theta, up 239%; Fantom, up 144%; Palm, up 97%; and Wax, up 73% this week. The top-selling cryptographic collections this week included Mutant Ape Yacht Club (MAYC), Bored Ape Yacht Club (BAYC), Bored Ape Kennel Club (BAKC), Azuki, and Otherdeed."

Unfortunately I have not had time to read this thread
Well... I have not been fast in this crypto world. Maybe the NEM stake claming is the only case, where I have been in time 
 

[nutildah]

Unfortunately I have not had time to read this thread
Well... I have not been fast in this crypto world. Maybe the NEM stake claming is the only case, where I have been in time  

I was in time for that as well, however I sold my stake far too early... Way she goes.

In a way its good that Dogeparty went down for several years and froze the assets I created with it like they were in some kind of time capsule... prevented me from getting rid of them too early. Then in October 2021 I had access to them again, and all of the sudden they are now "historical."

I'd really like to get a hold of some kind of expert in NEM assets/mosaics as there could very well be stuff of value yet to be unearthed. Its a perfectly good chain, just never gained a foothold in popular culture. Perhaps it could undergo a renaissance thanks to treasures buried within?

There are some old chains which still thrive as people are creating NFTs on them. Take a look at Monacoin for instance: Monaparty is alive and well and probably the most interesting thing happening on that blockchain.

NXTdrop was a really cool asset made for NXT which does have some collector appreciation. Unfortunately the asset creator kind of botched the attempt to remint this project on Ethereum in that he issued asset holders ETH NFTs that represent this project without ever collecting the tokens from them on the NXT side. There are cleaner ways to go about doing it.

Nevertheless, its an example of a "historically-significant" asset on an unpopular chain (there are probably a few others on NXT still waiting to be discovered as well):

"NXTdrop" is the worlds first decentralized oil painting.

To have an possibility to follow this paintings value in realtime and to have it as an decentralized asset; is totally a new concept in the world of fine art.
I am looking forward take this painting to contemporary art museums/galleries and to ship this painting over to the NXT-team to take it in a very public places and to take a good care of it.
Hopefully, some day, it will find its final placement in a nice (modern art or cryptologic) museum.

You can buy shares in the NXT Asset Exchange, under the name nxtdrop!

...

Asset name:nxtdrop
Account: NXT-V5JC-2WXJ-LHPL-8E5JZ
Asset Id:2751500054965016187

I hope you guys like the idea!




Here is a pre-visualization how it looks like in real environment

[nutildah]

Top 4 Emblem Vault Sales of Last Week Total 115 ETH



Four Ethereum-wrapped Counterparty assets sold for a combined 115 ETH last week, which is close to $181k at current prices:

1) FDCARD - 50 ETH
2) SATOSHICARD - 50 ETH
3) ETHEREUMCARD - 7.5 ETH
4) NINJASUIT - 7.5 ETH

The first two are considered "grails" among Historical tokens on Counterparty, and all are highly sought-after relics of the pre-Ethereum NFT era. The sales help confirm the trend of Historical NFTs holding up in value during the bear market better than any other NFT category, and they are likely to continue doing so in the future.

Other recent big sales include HAIRPEPE @ 0.85 ETH, PEPEBROS @ 1.4 ETH, and CAMPEPE @ 0.65 ETH.

You can see all the recent Emblem Vault (an NFT wrapper for assets on Counterparty, Dogeparty, Monaparty, Namecoin, Emercoin, and Ethereum) here.

[jkoil]

This one found from the "other news" :
https://www.bbc.com/news/business-64573513

If making NFT art, make it from your own head

[o48o]

This one found from the "other news" :
https://www.bbc.com/news/business-64573513

If making NFT art, make it from your own head

The jury awarded Hermes $133,000 (£110,000) in damages, rejecting Mr Rothschild's argument that his products, which he began selling in 2021, were works of art commenting on the market for luxury goods and should be protected by laws governing free speech.

A lawyer representing Mr Rothschild said it was a "terrible day for artists and the First Amendment".

Well this is just insanely stupid lawyer then. This isn't a NFT or Free speech issue, it's a copyright issue.
If i sell t-shirts or use anyone's brand for making money with digital projects it's a copyright issue and i need a permit to do that. It doesn't mean anything if i say that this is just commenting the brand. That's not free speech, it's freaking piracy.

There's a reason why Rockstar won't use real brands in GTA or fictional tv shows rarely if ever use real products or why porn films blur any brands from the video.
There are exceptions but it's case by case issue and not everything is considered trade mark infringement, but this is so clearly it.

[nutildah]

Hmm that is interesting. Makes sense. The dude's biggest fault was he didn't do his collection anonymously I suppose.

In the NFT world, Ordinals are front and center right now. Don't really want to get into the technicals of it here but what is interesting is the most successfully-selling collection is called Bitcoin Punks, which are straight ripoffs of the original Crypto Punks series on Ethereum, except they are set against an orange background.



Crypto Punks (2017) vs. Bitcoin Punks (2023)



Crypto Punks are currently owned by Yuga Labs (the Bored Apes people), who claim to own IP rights to that collection.

Because Bitcoin Punks are doing huge numbers on OpenSea (they are wrapped for Ethereum using Emblem Vault), Crypto Punks holders have been pleading with Yuga Labs to do some kind of intervention, fearing these "fake punks" will lessen the value of their originals (I suppose there could be other reasons as well).

No word from them yet if they are going to try to sue to the Bitcoin Punks people, but its probably the biggest example of copyright infringement in NFT-dom at the moment. Will be interesting to see how it pans out.

[dragonvslinux]

So, what Historical NFTs do you own? Which ones am I missing that you think have a lot of future potential?

I have a handful of limited edition CryptoKitties from December 2018. They cost me around 0.02 ($2) each and after reaching a high around 0.5 ($1000) in 2021 and now worth around the same 0.03 ($50). Personally I wouldn't recommend these as even the limited edition collections (~1K only) there are about 40+ of them and therefore no real demand (as of yet). Probably better off with a Gen0 / Gen0 virgin. I otherwise didn't bother selling them as they were my first ever NFTs so happy to leave them be for a while in case a demand returns for these old school NFTs. Should of got a CryptoPunk back then for 1 ETH instead.

I'm otherwise a big fan of MoonCats and hold a decent bag. They not only pre-date CryptoKitties but there are only 25K of them, as opposed to the million of generic CryptoKitties that exist (that more or less killed the collection imo). These I plan to hold long-term as they only started trading in early 2021, despite originating from 2017 (close to CrytpoPunks date), so still has a few more years of trading before value stabilises/increases imo. It's also one of the few (or only?) collections which isn't just based on attributes but also accessories, that were/are developed by the community, so have a handful of limited editions accessories.

I did previously swing trade some of the more modern collections, due to the 10x gains that were occurring within a matter of days, but wouldn't bother with any of them anymore. The NFT market is general is now over-inflated with thousands of collections as you pointed out (very much like the shitcoin space). So I think only long-term the NFTs that are at least 4-5+ years old stand a chance long-term.

[nutildah]

So I think only long-term the NFTs that are at least 4-5+ years old stand a chance long-term.

This is the crux of it... at least a hundred thousand new NFTs are being produced every day. True collectors (not flippers) will be drawn toward the ones made back when it wasn't fashionable to do so.

With CryptoKitties, the problem is there are so damn many of them. Apparently now slightly over 2 million in all. It was actually the first NFT I ever bought, in 2018, I wanted to see what the fuss was all about. I recently recovered it -- turns out it had been sitting on their marketplace unsold for about 4 years.    am just keeping it now for sentimental value.

[dragonvslinux]

With CryptoKitties, the problem is there are so damn many of them. Apparently now slightly over 2 million in all. It was actually the first NFT I ever bought, in 2018, I wanted to see what the fuss was all about. I recently recovered it -- turns out it had been sitting on their marketplace unsold for about 4 years.    am just keeping it now for sentimental value.

Well yes, basic kitties, or shitty kitties as I prefer to call them, are more or less worthless given the ever increasing supply. Baring in mind CryptoKitties was intended as an NFT game by breeding them, rather than a collectable. However they did reach $10 in 2021, even 0.025 ETH in 2020, but this was due to gas costs on opensea increasing, meant it was cheaper to "adopt" via uniswap rather than buy on the open market for breeding purposes. At least that's what it looked like once the kitty vault was established.

As I said, unless they are limited edition - like Gen0's that are currently worth $100 / 0.058 (after a 2021 high of $1K / 0.3 ETH), which in dollar terms I think is actually a fair value, even if by Ether value they continue to make new lows - then these NFTs have no real value overall. By comparison the ones I got were some "Purrstige" X-mas edition, but even some of these LE collections are only worth 0.01 at floor, compared to others around 0.05 (Gen0 price). Still worth a lot more than basics, but with zero volume. To sell them they'd need wrapping and putting up for sale on opensea, as there are virtually no trades on the main market anymore.

Overall CryptoKitties was an interesting experiment, but after all the LE traits like special edition / exclusive / fancy / whatever were released, collectors simply lost interest. My only reason for not selling the ones I had for 50-100x what I paid for them, when they reached around 0.5 ETH, was also sentimental value to be honest! Especially since it cost me around $20 / 0.2 Ether in total, and ended up at the peak with a collection worth 2 ETH. I remember looking at CryptoPunks at the same time and thinking $100 was way too much for an NFT, this is the only reason I ended up with CryptoKitties lol.

[jkoil]

NFT dump or sign of the coming new wave...

https://cointelegraph.com/news/whale-sells-1-010-nfts-in-48-hours-in-largest-nft-dump-ever

"Whale sells 1,010 NFTs in 48 hours in ‘largest NFT dump ever’ "

[nutildah]

NFT dump or sign of the coming new wave...

https://cointelegraph.com/news/whale-sells-1-010-nfts-in-48-hours-in-largest-nft-dump-ever

"Whale sells 1,010 NFTs in 48 hours in ‘largest NFT dump ever’ "

Kind of interesting, but they were all Yuga Labs NFTs (Bored Ape Yacht Club, Mutant Apes, Otherdeeds -- I would dump them too), and then he

promptly bought back 991 NFTs, with Thurman theorizing it could be a play to either book some profits while also conducting “one big wash trade to generate huge Blur airdrop profits” or a “pretty naked market manipulation. ”

I don't understand the appeal of anything Yuga Labs does TBH, including their most recent series released as Bitcoin Ordinals. They made >$16 million in BTC for this shit.


Exotic Non Rare Pepe Pepe Acquired

I picked up a PEPENOYABO the other day, 1/66, released in Jan 2018 via Monaparty on the Monacoin blockchain.



It is my personal 'grail' of Monaparty tokens - had been trying to get one for a few months now - the first Pepe on Monaparty, and part of a collection by a mysterious artist who disappeared in 2020. The card is pretty evenly distributed among 28 holders. How I got it was by making a plea to the only known holder on Twitter (in Japanese), who replied to my request to consider my DEX offer for one. He filled it in a few hours, I'm pretty stoked about it.


Largest Pair of Dogeparty Dispenses Ever

Somebody dropped over $17k in DOGE on 74 Dogeparty RUNNER tokens, cleaning out the dispenser in 2 separate dispenses.



The reason?

RUNNER is considered to be one of the first times crypto tokens were used for gaming purposes, making it relatively interesting from a historical perspective. The creator of the token actually advertised his game on this forum, but of course it went largely unnoticed, along with so many other early-but-formative blockchain experiments.

I am very excited to announce the first, ever Dogeparty token game!


Dogeparty Runner
The Original XDP Token Game

http://xdpr.adeally.com

Dogeparty Runner is a weekly game of cyberhunt that uses our 4 game tokens (RUNNER, HINTS, CLUES & PRIZES) to solve problems. Players compete in hopes of winning brand new products.

This project is fueled by Dogeparty. We built inherent values in each token so they have a purpose for the runner games and a potential value on the DEX (decentralized exchange), whenever it gets incorporated in the Dogeparty Wallet. While token holders will need the tokens to progress through each day's problem there is also a side strategy to holding Dogeparty Runner tokens that could only be accomplished using Dogeparty. A player may end up with extra tokens because they solved the problem fast and a player may end up needing more tokens because the problem is too hard. Viola! Instant market values associated with the game tokens. Some players that don't win the weekly prize could still come out on top if they exchange their unused Dogeparty Runner tokens for other tokens on the DEX.
...

A huge day for Dogeparty yesterday.

[nutildah]

Punisher.eth Publishes Blockchain Collectibles Clock (v2023.3)

https://twitter.com/PunisherEth/status/1636870596960169985

Punisher.eth (formerly w3b.eth) is a personal favorite of mine in the Historical NFT space -- he's super dedicated to providing quality content and doesn't exhibit the bag bias that so frequently comes with the NFT Histooorian territory. Instead, he looks at blockchain collectibles from a fair and objective manner, and the latest version of his clock is jam-packed with cool information (which is why I'm posting it in full screen, still recommended to open the image in its own tab):



Most of the stuff I personally collect happened between 9 am (June 2014) and 4 pm (Mar 2018). The Namecoin stuff doesn't particularly interest me (as most of it has expired) and most Ethereum stuff is too new & plentiful. There's just something about collecting assets on popular Proof of Work chains that feels right, which narrows things down to Bitcoin and Dogecoin.

[nutildah]

"First NFT" Artist & Sotheby's Win Lawsuit Filed by Web3 Patent Troll

https://www.nytimes.com/2023/03/21/arts/design-nft-quantum-lawsuit-dismiss-mccoy.html

Story is behind a paywall, here are the main details:

Judge Dismisses Lawsuit Over Ownership of $1.47 Million NFT

The legal battle over “Quantum” is part of a larger effort to define rules of ownership for digital artworks.

“Quantum” (2014), an NFT that sold for $1.47 million at Sotheby’s in 2021. The code-driven work “presents an ongoing, abstract, cycle of birth, death, and rebirth,” said Kevin McCoy, its creator.

A federal court last Friday dismissed a lawsuit that questioned the ownership rules around an NFT called “Quantum,” which Sotheby’s sold for $1.47 million in 2021 as the first of its kind. The legal battle had become part of a larger effort to define rules of ownership for digital artworks.

A Canadian company named Free Holdings brought the complaint last year against the auction house and the artist, Kevin McCoy, who created the artwork in 2014 as a demonstration of the blockchain’s potential to register artworks on a digital ledger system. The artwork itself looks like something from a science-fiction movie, as if it were an alien wormhole pulsing with neon colors.

The dispute arose because the blockchain system that McCoy used for “Quantum” also required him to periodically renew his ownership rights. (Most web domains operate by similar rules.) But the artist neglected to renew terms of ownership, which allowed Free Holdings to purchase the registration and assert ownership over the work itself. The company subsequently accused Sotheby’s and McCoy of slander and commercial disparagement.

James Cott, a magistrate judge for the U.S. District Court for the Southern District of New York, dismissed the case and wrote that Free Holdings had failed to establish its claims of ownership and injury.

“Free Holdings has demonstrated nothing more than an attempt to exploit open questions of ownership in the still-developing NFT field to lay claim to the profits of a legitimate artist,” Judge Cott said in his dismissal.

I had been following this lawsuit for over a year now and had been rooting for the artist. He had an account on this forum:

One big issue in the art world right now is buying and selling digitally-based media. While there are some interesting efforts made to address this issue ( http://www.ifnoyes.com/ ), often artists resort to making some kind of physical output or embodiment of digital code (an object) that can circulate more easily within the existing strictures of the art market. ( http://paddle8.com/auctions/paddleson )

I am interested in developing a method or system where a contractual ownership token or message can be embedded with a blockchain transaction. This way an artist working digitally can present the work in its native form (on the internet, for instance), yet still have a mechanism to sell it to a collector who would have a verifiable and secure way of showing ownership and transferring ownership to another party.

My idea seems related to Contracts ( https://en.bitcoin.it/wiki/Contracts ), colored coins ( https://bitcointalk.org/index.php?topic=305042.0 ), and maybe even smartcoin ( https://github.com/jgarzik/smartcoin ), but it is difficult to know where to begin.
...

As per the title of this post "First NFT" is in quotations because its a highly debated claim. First of all, are Namecoin assets NFTs? If yes, what happens to the NFT after it expires on the blockchain (a feature unique to Namecoin)? Also, was his really the "first"? That distinction actually belongs to d/bitcoin, which has been continuously registered since April 2011 (never expired).

What McCoy did was indeed a "first" of sorts but d/Quantum expired and was re-registered by someone who goes by the name EarlyNFT on Twitter. EarlyNFT basically claimed that what McCoy sold wasn't the "real Quantum" and then sued him and Sotheby's after it was sold for $1.47 million. To me this is the equivalent of Web3 patent trolling as he was trying to apply his take on how NFT ownership works in a court of law. Of course its an unsettled matter as nobody even referred to Namecoin assets as NFTs until 2021.

I can't paste the art as a GIF b/c the file size is too big, but this is what it looks like:

https://miro.medium.com/freeze/max/360/0*QLQAL9R5JNDIpVNt.gif

[jkoil]

NFT business may be going up, tho many others down ...

https://www.benzinga.com/money/celebrities-that-own-bored-ape-yacht-club-nfts
https://www.benzinga.com/go/nft-pro

[nutildah]

WINKELPEPE Sells for 20.75 BTC

One of the rarest of Rare Pepes was purchased today via Counterparty dispenser for 20.75 BTC, which is about $631.8k at today's BTC price.

https://twitter.com/rarepangolin/status/1646989400763518977




With only 2 in existence (1 of which was sent to a burn address and is thus out of circulation), WINKELPEPE was issued on Sept 29, 2016. It is Card 34 of Rare Pepe Series 2, made by DanDarkPill, who created 12 Rare Pepes with relatively low supplies (the highest supply being WEAREALLPEPE with an issuance of 100).

Rare Pepes have been enjoying something of a resurgence in popularity as new Bitcoin NFT converts look to expand their horizons beyond Ordinals.

[dragonvslinux]

WINKELPEPE Sells for 20.75 BTC

One of the rarest of Rare Pepes was purchased today via Counterparty dispenser for 20.75 BTC, which is about $631.8k at today's BTC price.

Can I be the first to say it? $630K for an NFT is a hideous price. The fact it's effectively 1/1 doesn't make it anymore valuable, if anything the opposite is true imo. I understand it's a year older than CryptpPunks for example, but even so 20 BTC is an insane evaluation. If it was a 1/1 within a collection or 1000 or 10,000 it might actually make more sense, but who's going to pay more than 20 BTC for this?

This looks like it was either a vanity buy or wash trading  

[nutildah]

The fact it's effectively 1/1 doesn't make it anymore valuable

It absolutely does. Even if it has dope artwork that is iconic in some way, it won't be worth much if there's 10,000 of them. Its exactly why (most) CryptoKitties are worth pennies. Think about it in terms of any other type of sought-after collectible.

If it was a 1/1 within a collection

It is within a collection, the Rare Pepe collection.

who's going to pay more than 20 BTC for this?

It was purchased by 6529capital, which is a fund run by punk6529.