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💯 The 100K club
4 and 5 digit ENS domains minting out, crypto MEV strategies, BAYC sentiment changing, new collectibles platform launches
Hey, this email is too long for an intro so let’s just get into what’s been happening this week! Every heading is a channel in the Discord - come join over 950 of us.
Richard Patey, Director, Investor Community at Flippa
#domains
Over the last week, ENS (.eth domains) have been going nuts, as can be seen on the Ultrasound Money website where ENS is in the top 3 culprits for burning the most ETH (will be talking about Otherdeed under #NFTs):
What’s been happening is that 4 digit .eth domains got quickly minted out mainly due to the fact that most NFT collections are 10K where each NFT has its own token ID such as my Moonbird #3582.
As such, if you own 3582.eth you can create a subdomain such as moonbird.3582.eth or if you owned Mutant Ape #3582 then mutant.3582.eth. There is also a 10K club created with a token gated Discord community just for those with 4 digit domains.
But that wasn’t enough, 5 digits was next, especially as they are zip codes used in USA. At my last count at ENS Vision there are less than 7K numbers left out of 100K. This will likely get minted out this week.
I picked up 93514.eth as that’s a postcode of a town in California close to Nevada, that I stopped at on a road trip back in the day! And with it I’ve been able to join the 100K club.
But what people are missing, I believe, is that you don’t need to be doing this with subdomains if you are able to buy the actual TLD on Handshake.
So I bought .3582/ and can set up as many domains on it as I want.
If you’re thinking of jumping in to 4 or 5 digit .eth domains, here’s a warning based on what happened with ICANN domains:
#crypto
The crypto channel in the Discord has been kicking off about MEV and arbitrage strategies around drops by existing bluechip NFT collections. Whether you think this is ethical or not, it made me realize there are so many more opportunities within crypto for making bank other than flipping.
Here are a couple more opportunities, one that combines defi and one that utilises a bot for arbitrage.
#nfts
The Moonbirds team gave a nesting and roadmap update where they confirmed that there are 92% of the supply of birds nested (i.e. off the market).
But the big news is that you can actually now sell your nest with your bird, and there will be a new attribute added to Opensea for the type of nest. This will drive value for bird holders who have been nesting, putting their faith in the project.
They also announced forthcoming benefits for being nested, such as (moon) air drops which will likely expand the community:
But, the biggest news in the NFT space over the last week year was the huge expansion of the BAYC ecosystem by dropping land in their forthcoming metaverse, Otherdeed for Otherside. Up to this point, BAYC had not put a foot wrong, but I had a feeling that this wasn’t going to go perfectly:
The contract they deployed caused a huge gas war where new people didn’t have enough ETH in their wallets to mint, a lot of ETH transactions failing, and a huge amount being burned (see image in first story above).
If that wasn’t enough, a pre-planned PR style tweet was sent out effectively blaming the Ethereum chain for the issue and that perhaps BAYC should explore their own chain. This did not go down well:
And OG ape holders have been outspoken against the constant dilution of their assets:
And not one for diplomacy, the ex member of Proof sent out this tweet:
The sentiment being shared elsewhere:
Will Moonbirds be the one to dethrone? No idea, but getting the Bankless guys as advisors certainly helps:
All I know is that I’m keeping my bird nested for the long-run, I’m not going to be selling a bluechip (i.e. MAYC) again. It really does feel as if investing in NFTs is like angel investing, where you just have to place enough educated bets, ditch the losers and hang onto the winners.
#collectibles
The co-founder of Reddit, Alexis Ohanian invested into Americana. Would like to say why this is important but have run out of email space, watch the video:
Ok that’s it for this week. If you’re reading this on the web and you’re not yet subscribed then you know what to do. Likewise, click below to join our Discord.
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.