Ethereum Name Service sees a massive spike in activity.
Popular car company Chevy breaks down on their first NFT release.
And boxing legend Manny Pacquiao has Cardano in his corner
as he prepares to release a play-to-earn NFT.
My name is Deezy.
This is your Friday NFT wrap-up.
Let's get it!
Ethereum Name Service, or ENS for short,
was launched by certified rat tickler Nick Johnson back in 2017.
If you don't know, ENS is a domain name service that simplifies your long wallet address
filled with a bunch of random letters and numbers into an NFT of something easier to remember
such as deezy.eth or bitboy.eth.
Not only can you use this simplified Web3 address to direct people to your wallet,
but you can also use it to direct people to your website.
You can even add emojis or create a .eth address in different languages.
This is such a popular idea
that Cardano has even created adahandle.com to do the same thing on their blockchain.
More recently, an article from Decrypt reports that there has been a 216% increase
in ENS registrations in the past week,
with over 108,000 new ENS domains being registered.
Last Sunday alone, ENS almost cleared 700,000 in one day.
Some of the recent spike can be attributed to the hype
around three or four-digit numbers being sold for exorbitant prices,
which inspired thousands of new people to create their own ENS domains.
A tweet from Delphi Digital illustrates that on July 4,
over 30,000 new addresses were created
shortly after the address of 000.eth was sold for 300 Ethereum.
That's about $340,000.
Since three and four-digit ENS names obviously have a capped supply,
there's a Web3 social club called the 10k Club
that's exclusive for the ENS holders between 000 and 9999.
Maybe numbers are already becoming the next blue chip.
That says a lot compared to projects that overcomplicate everything.
Chevy released their first NFT,
which is a one-of-one drop called Own The Color.
It was a picture of a minted green Corvette Z06 drifting through the city.
Since it's the first of its kind,
the NFT was promised to come with a matching 2023 Corvette Z06
painted in the same exclusive color.
The four-day SuperRare auction began on June 20 with an opening bid of 206 ETH,
which is about $236,000.
Unfortunately, no one touched the bid.
SuperRare extended the bid for an extra day
because they thought that the craziness of the NFT.NYC event
distracted people from the car auction.
Once again, no one bid on it.
And to add some salt on the wound,
the highest offer was only 6.9 ETH.
Not nice.
The failed auction was definitely a learning experience for Chevrolet,
and they mentioned in a blog that they'll take what they've learned and apply it to future projects.
I feel like the project broke down on the side of the road
because there's no community to share your experience with in this one-of-one project.
And 206 ETH is overpriced.
$236,000 is fairly cheap for an exclusive Corvette that comes with the brand's first NFT,
but if you compare that to Ethereum's all-time high,
206 ETH is over $1 million.
Pump the brakes, guys.
I totally understand why people in the world would rather hold their Ethereum.
Boxing legend Manny Pacquiao has teamed up with Cardano to release Pacman,
a drop of 9,999 boxing dog NFTs.
The collection was created in memory of Manny's beloved Jack Russell Terrier Pacman,
who tragically died in an automobile accident.
The Pacman NFTs will come in an array of algorithmically generated attributes.
And that's just not for the visuals.
The attributes will also include speed, stamina and strength
because HODLers of the project can use their NFTs to fight in the Pacman Boxing League
to earn rewards and prizes.
This includes earning belts, passive income and crypto rewards for your results.
And if you win enough bouts,
you could even become the champion of your tier.
If you join the Pacman Discord,
you will learn that you can purchase the NFTs from the different tiers to get signed merch,
win tickets to events,
and if you purchase one of the two Tier 1 NFTs,
you even get the once-in-a-lifetime opportunity to meet Manny Pacquiao himself.
This NFT is primed to possibly become the next blue chip NFT on Cardano.
If you want to get in on the action, lace up and get in the ring.
That's all I got.
Be blessed.
Deezy out.