Drops DAO Newsletter: Aug 1 - 12th

It’s been another great series of developments for the NFT world. The crypto markets are posting strong performance again and global adoption is accelerating. More global brands are entering the Web3 space than ever before, with Starbucks CEO Howard Schultz now suggesting NFT integration as part of a global customer rewards programme. OpenSea have made changes on their policy for stolen NFTs and new proposals on Ethereum call for privacy extensions to protect users.

Over at DROPS DAO we saw a snapshot listings proposal for the GoblinTown collection to be added to the lending pools and completed another great Twitter spaces with guests @RoscoKails the creator of @RevokeCash & @0xsmoky from @gotbit_io discussing RevokeCash, generative art, and more. Listen to the recording of that here.

This Week our dev team was working on:

- Mortgage mainnet preparation

- Insurance Frontend integration

- New markets preparation (GolbinTown, Doodles)

- Rarify Integration at Oracle

- NFT Wallet API updates

Next Week we will be working on:

- New markets launch

- Mortgage Mainnet beta (limited test)

- Liquidation Insurance Development

- Rarify Integration at Oracle - Nifty api updates - Safety/security management

NFT News - Highlights of the Week

Starbucks hints at NFT adoption!

Starbucks CEO Howard Schultz said during the company’s Q3 2022 earnings call that Web3 will play a part in the future of Starbucks' popular rewards program. This is part of a continued line of communication suggesting integration of blockchain technology that follows a Starbucks presentation in May 2021 about NFTs. According to Schultz, the company will unveil the new digital initiative on Sept. 13, during its annual Investor Day event in Seattle.

OpenSea changing Policies on stolen NFTs

NFT marketplace OpenSea is changing its tactics around assets that are reported as stolen. OpenSea wrote that it will now require a police report to be submitted within 7 days of flagging an NFT as stolen. The policy is designed to prevent false reports. If a police report isn’t submitted in time, then the hold on the items will be lifted. More on that here.

New Ethereum NFT Privacy Proposal

Ethereum researcher Anton Wahrstätter has come up with a fresh proposal for an ERC-721 extension that would implement "stealth" addresses to obscure public blockchain transactions involving NFTs. Part of a stealth address, which is essentially a one-time address for every transaction, is inserted into a ‘Merkle tree’, a data structure used for data verification and synchronization—thus allowing for sending, storing, and burning NFTs without leaving much of the transaction details seen on the public blockchain. Read more.

CryptoDickbutts Ethereum NFTs Surge 700% + in Daily Sales Volume

Originally launched by comic book artist K.C. Green with 161 NFTs on Ethereum, later named the OG collection, in March of 2021, it was followed up with a Series 3 of 5,200 NFTs in August 2021. The cheapest CryptoDickbutt from Series 3 currently sells for 3 ETH. That is the highest the Dickbutts floor price has ever been; it's up 163% in the past month. More on that here.

Tweets of the Week

Hawks @NFTHawks

Miss y’all 🥺

quit.pcc.eth @0xQuit

The merge is coming. Are your NFTs at risk? Are your tokens? Your eth? These are all questions I've been asked, so let's talk about what the merge means for you. I also have a favor to ask of you 1/🧵👇

cantino.eth @chriscantino

Composability Web3’s killer feature is interoperability. Imagine your Criterion Collection NFT being forked to unlock access to communities of film enthusiasts. Or, a new coffeeshop trying to attract business: "One free drink for holders of Starbucks loyalty NFTs."

Lending Pool Statistics

Check out the most recent stats below for our lending pools:

• Supplied: $2,463,540

• Borrowed: $520,488

Highest Yield (APY)

The highest APY for USDC is available in the Drops Pool, with a supply APY of 47.35% in USDC and a distribution APY of 14.04% in DOP.

The highest APY for ETH is available in the Lake Pool, with a supply APY of 17.71% in ETH and a distribution APR of 79.65% in DOP.

veDOP statistics

DOP Locked: 1,510,801.93

Total veDOP: 278,632.16

Average Lock: 0.74 years

NFT Market Statistics

Total NFT Sales Volume

Number of sales and total market wallets were up 9.74% and 8.42% respectively last week but total USD value was down.

(Source: https://nonfungible.com/market-tracker)

Top NFT Sales

Continued buoyance off the back of the Tiffany’s deal with CryptoPunks, continued pushing the re-emergence of CryptoPunks as part of the top NFT sales.

and Loot continues to maintain its top position for weekly sales volume.

(https://nonfungible.com/market-tracker)