š· NFT wine - to flip or drink?
Buying a Penfolds Magill Cellar 3 2018 Cabernet Sauvignon Shiraz was an investment, honest.
Hey there, in this weekās Alts by Flippa newsletter I discuss:
Buying a $750 bottle of wine (NFT)
Opensea acquires Gem and integrates Solana
JPEGād NFT lending platform launches
AI content good enough in 2022?
Remember, every heading in this newsletter is a channel in the Discord - come join over 900 of us.
Richard Patey, Director, Investor Community at Flippa
#collectibles
This channel is back in the discord as I just bought a Penfolds Magill Cellar 3 2018 Cabernet Sauvignon Shiraz from Blockbar.
The 300 bottle/NFT drop happened back in January at 0.15ETH so Iām paying a premium (for already premium wine). But then I donāt have to concern myself with storage, insurance, and proving authenticity when I resell.
I bought this bottle/NFT on their marketplace from seller āDayDrinker020ā and I likewise can set my own listing price there:
I can also list it on the secondary market Opensea where the current floor is 0.4ETH so there could be an arbitrage opportunity here.
I can gift the NFT or redeem it at any time to get physical ownership of the wine anywhere in the world where itās legal to import, as it is in the UK where you just pay tax and duty. When you redeem, you actually burn the NFT and it gets removed from your wallet (more details in the FAQ).
And Blockbar is about to do a partnership with Bored Ape Yacht Club holders where Iāll be able to get 50% off a bottle of Monkey Shoulder whisky now that Iām an NFT holder:
#nfts
Opensea has been making big moves over the last week.
It acquired Gem, the āMetaverse Shopping Cartā which shows live listings across all the marketplaces which launched no longer than 4 months ago - what an exit for the team! And OS now integrates with Solana, where the Okay Bears collection that just launched is going nuts straight to a 60 SOL floor (over 2ETH) and a 275 SOL top sale for this bear. I have no idea what utility this gives you (not for me).
The JPEGād vault just launched a couple hours ago with this Crypto Punk being the first asset deposited for lending:
This service is for NFT owners who do not want to sell their NFTs (which triggers a taxable event - something Iām trying to minimize now), but want to access capital.
Itās also for NFT owners who want to earn yield, while still retaining ownership of their NFTs.
This launch will signify an important milestone in emerging NFT DeFi space as users will be able to obtain a line of credit using their NFTs as collateral in a completely permissionless, trustless and decentralized manner.
Users will be able to borrow up to 32% of the floor price in PUSd. Liquidation will be when the debt to equity ratio equals or exceeds 33%.
We are also exploring other NFT collections such as Clone X, Mutant Ape Yacht Club, Moonbirds, etc.
They have also launched their own NFTs of 1000 JPEG Cards which are currently receiving 1% of the total JPEG supply over a one-month period.
This is an exciting time for NFT holders, where NFT finance (great article by Richard at Koia) unlocks liquidity you could previously only get by selling your NFT (or in my case mutant ape, doh!).
In other NFT news, BAYC is launching Otherside on Saturday, selling 100,000 plots of land in its Genesis drop, 10,000 of which will contain a Koda, a new NFT character to the metaverse:
Friend of Flippa, Morgan Linton, now writes at metaversemorgan.com and has published a quick primer on the Otherside Metaverse, Kodas, and everything in between to bring you up to speed.
For me, however, itās just all too much now:
But maybe Iām just bitter I sold my mutantā¦
Over the last week, the top 3 sales have all been Moonbirds (last weekās main story) according to the NonFungible Market Tracker:
And KRO has pretty much confirmed that birb holders will be receiving a token drop this year (more liquidity, yes please) which will be based upon the length of time your Moonbird has been nesting:
My bird has been nesting for the maximum amount of time and will continue that way:
#contentsites
Running out of email length again so will just post an interesting video that Gael over at Authority Hackers just put out on whether AI content is currently good enough:
The top comment on the video is a detailed explanation of someoneās hybrid AI/human writing model.
Ok thatās it for this week. If youāre reading this on the web and youāre not yet subscribed just hit the button below.
And come join the discord where we discuss:
Alts by Flippa is owned by Flippa. Nothing in this email is financial advice and we are not professional investment advisers. We send weekly updates on what we're doing personally - consider it informational and for entertainment purposes only.
Great commentary on AI from Authority Hacker. You know my views on this. Just hire a great writer :D