Drops DAO Newsletter
12-18th September
As we reach the end of a huge week in crypto, despite markets not performing how many of us would like, the successful completion of the Ethereum merge, marked a monumental turning point in the progress of Web 3 and the future of blockchain adoption. Scalability and lower fees are set to be major benefits, plus lower global energy consumption.
Over at DROPS DAO we hosted another episode of DROPS RADIO (our new name for Twitter Spaces) with Bored Ape Member and EU Apes organiser Colin Lieb.
In addition, governance proposals for new collections have also begun:
Drops Team Updates:
This week
- Launched lending pools stats page drops.co/stats/
- Deployed 11 new oracles for collections
- Launched selective NFT liquidations
- working on the UI upgrades
Next week
- Adding new collections to Ocean pool
- Testing NFT mortgages
- New homepage development
- New borrowing flow development
NFT News - Highlights of the Week
Doodles NFTs Surge !
The creators of Doodles announced a $54 million funding round led by Seven Seven Six, the VC firm of Reddit co-founder Alexis Ohanian, putting total valuation of the project at $704m. The round included participation from FTX Ventures, Acrew Capital, and 10T Holdings. According to data pulled from Crypto Slam, Doodles is the eleventh-largest NFT project by sheer sales volumes. Since its launch in October 2021, the collection has generated over $524 million in sales on the Ethereum network across more than 13,300 buyers.
BAYC Owner set to launch real IRL SuperYacht Club
The Bored Yachts Club is a new community project that aims to serve up yacht rental opportunities exclusively for NFT owners. It comes from an owner of a Bored Ape Yacht Club NFT that is also CEO of a crypto company and a yacht owner himself. The Bored Yachts Club hopes to create a decentralized, NFT-gated yachting platform that lets members rent real vessels all over the world, with proceeds going to charity. And while the original BAYC path has led to the metaverse, via the upcoming launch of the Otherside game, the Bored Yachts Club has a different destination in mind.
“Instead of a metaverse at the end,” founder Jad Comair explained, “you have a ‘yachtverse,’ where basically you enjoy yachting instead of video games.”
Starbucks releases NFT platform on Polygon
Starbucks today this week that it plans to offer its customers NFT rewards through Polygon, the Ethereum scaling network. The Starbucks Odyssey program, which will launch later this year, will let both customers and employees in the United States earn digital stamps as rewards, as well as purchase and trade limited edition digital stamps. Each stamp will be minted as an NFT. The initiative will let customers earn “journey stamp” NFTs by completing challenges and playing interactive games through the coffee chain’s app. There will be incentives for users to collect these stamps, as the NFTs will boost a user’s level in the Odyssey app and lead to potential rewards—from virtual drink-mixing classes to exclusive merchandise, access to private events, or a trip to Starbucks’ Costa Rican coffee farm. A portion of proceeds from NFT sales will support undisclosed causes, the company said.
Epic Games marketplace distributes first ever NFT Game.
Blankos Block Party, an NFT-powered online creation game, launched today on the Epic Games Store, becoming the first Web3 title published on the popular PC gaming marketplace.
Mythical Games’ title was previously available from its own website after launching with an open beta in December 2020, and the company said in June this year that Blankos had amassed more than one million total users to date. Since launching, the game has brought in a number of brand and artist partners for limited-edition drops, including Burberry, Atari, and musician Deadmau5. However, owning NFTs is not required to play the game. Epic Games Store, which claimed more than 194 million total users by the end of 2021, has taken a different approach to Web3 gaming than its chief rival, Valve’s Steam marketplace. Last fall, Valve said that developers could not publish games on Steam that used NFTs or cryptocurrencies in any way.
In response, Epic Games founder and CEO Tim Sweeney tweeted that while the studio which publishes the smash hit Fortnite itself didn’t plan to use NFTs or Web3 tech, it would allow other creators to use them so long as they abide by laws and marketplace guidelines.
Tweets of the Week
Lending Pool Statistics
Check out the most recent stats below for our lending pools:
Supplied: $911,004
Borrowed: $210,313
Highest Yield (APY)
The highest APY for USDC is available in the Drops Pool, with a supply APY of 24.54% in USDC and a distribution APY of 5.77% in DOP.
The highest APY for ETH is available in the Ocean Pool, with a supply APY of 27.89% in ETH and a distribution APR of 27.31% in DOP.
veDOP statistics
DOP Locked: 1,519,572.67
Total veDOP: 2,607,99.43
Average Lock: 0.69 years
NFT Market Statistics
Total NFT Sales Volume
Source: https://cryptoslam.io/#sales-rankings-7d
Top NFT Sales
Loot continues to maintain its top position for weekly sales volume.
(https://nonfungible.com/market-tracker)
