DropsDAO Newsletter - June 16
This week, Snoop Dogg launches an "NFT passport", Dmitri Cherniak’s "The Goose" NFT Sells For $6.2M, and NFT Data Platform Mnemonic Raises $6M.
What’s up DropsDAO community!
This week, the team has been preparing to launch the positions pool. We have also made an update to the homepage, as well as some user interface improvements.
The NFT total market cap has waned slightly, however weekly trading volume has made a strong return, as $192 million worth of NFTs change hands over the last 7 days.
Drops Stats
Supplied: $3,803,100
Borrowed: $830,920
Highest Yield (APY)
The highest APY for USDC is available in the Ocean Pool, with a supply APY of 41.14% in USDC and a distribution APY of 5.10% in DOP.
The highest APY for ETH is available in the Ocean Pool, with a supply APY of 23.18% in ETH and a distribution APR of 0% in DOP.
veDOP Stats
Total veDOP: 333,523.67
Total DOP Locked: 1,997,376.31
Average Lock: 0.67 years
NFT News - Highlights of the Week
🔥 Snoop Dogg Launches “NFT Passport” For Tour Benefits
Rap icon Snoop Dogg has teamed up with Web3 platform Transient Labs to create an NFT project called the Snoop Dogg Passport Series.
The NFT collection allows fans to access exclusive content, including behind-the-scenes videos and photos from Snoop Dogg's tours. NFT passport holders will also have access to future releases such as artwork and merchandise.
Snoop Dogg sees digital merchandise as part of the future, and hopes that other artists will innovate in this space. He has been actively involved in the Web3 space, previously identifying himself as the anonymous NFT collector "Cozomo de' Medici" and participating in collaborations such as showcasing the Bored Ape Yacht Club NFT collection with Eminem.
🔥 Dmitri Cherniak’s "The Goose" NFT Sells For $6.2M
Dmitri Cherniak's NFT artwork, "The Goose," has sold for a final bid price of $5.4 million at a Sotheby's auction. Including auction house fees, the total price to the buyer amounted to around $6.2 million.
Original estimates for the bid ranged from $2 million to $3 million, with the artwork initially purchased by now-defunct crypto hedge fund 3AC for $5.8 million in August 2021.
Sotheby's decided to sell "The Goose" and other NFTs from renowned generative artists as part of a collection called "The Grails." Dmitri Cherniak, a Canadian artist based in New York City known for creating art through generative algorithms, contributed "The Goose" to the Ringers collection curated by popular NFT brand ArtBlocks.
🔥 NFT Data Platform Mnemonic Raises $6M In Seed Extension Round
Salesforce Ventures, the venture capital arm of Salesforce, has led a seed extension investment round of $6 million in crypto data platform Mnemonic.
Salesforce Ventures expressed interest in leveraging Web3 and turning relevant data into actionable insights. Mnemonic provides a range of crypto data through APIs, including information on NFTs, NFT marketplaces, and specific wallets.
Other participants in the round included Polygon Ventures and Orange DAO, as well as FIN Capital and FJ Labs.
Other headlines:
FEWOCiOUS and Adidas Team Up on Digital and Physical NFT Sneakers
Twitch's New Favorite Game 'Only Up' Is Loaded With Goblintown NFT Art
ApeCoin DAO Special Council Six-Figure Salaries Sparks Tension
State of the NFT Market (via NFTGO.io)
Market sentiment: 37/100 (💧 Cool)
Total NFT Market Cap: $6.6B
NFT Weekly Volume: $192M
Buyers: 33,042
Sellers: 36,650
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