Metaversal is a Bankless newsletter for weekly level-ups on NFTs, virtual worlds, & more!

Dear Bankless Nation,

y00ts, the “expansion” collection to DeGods, once a Solana sensation, now finds itself preparing to leap from Polygon to Ethereum.

The move follows the DeGods transition to Ethereum earlier this year, a journey that’s proven fruitful. Meanwhile, y00ts’ stay on Polygon has been solid but not stellar, prompting this latest bridging plan.

It’s not the only migration saga occurring in the NFT space right now, though. For example, Canto Longnecks just launched a bridge to Ethereum too, and there are others.  

My two gwei? It’s been a tough bear market year for many NFT projects, but it’s been least tough on Ethereum. It’s got the most liquidity, the most composability, etc. 

These projects are trying to put their collections in the best positions to survive, in other words. We’ll have to see if this is just a bear market trend, or if this sort of consolidation to Ethereum is here to stay. 

In the meantime, thanks for reading everyone and as always have a great weekend! ✌️

-WMP

🦊 Thanks to MetaMask Portfolio 🦊

👉 Your web3 assets in one place, and much more ✨

📊 The big picture

Over the past week, the floor-based market cap of the NFT space declined from 8.87 million ETH to 8.59 million ETH for a 3.15% drop 📉 

🔝 7D top collections by volume

🚨 Bankless Airdrop Hunter coming soon! 🚨

Become a Bankless Citizen for Access

📰 General news

• Lore introduced Co-utility, a collective NFT ownership and delegation system. 

• Manifold launched support for secondary listings via Reservoir and Base. 

• Mirror posts are now collectable on Base.

• Nouns Builder rolled out support for Optimism, Base, and Zora Network.

• OpenSea launched support for Base.

• Zapper introduced Trends. 

🏆 Digital collectibles

• Cool Cats unveiled Sidekicks.

• DeGods are reworking their Season III art. 

• Opepens have a Pudgy Penguins crossover for Set 011.

🎨 Cryptoart & music

• Deca introduced Uploads.

• fxhash, a generative art platform, raised a $5M seed round. 

• PROOF held its Grails IV reveals.

• Sound released an Explore page.

• SquiggleDAO membership NFT minting kicked off — here’s a guide!

🎮 Decentralized gaming

• Axie Infinity introduced Mavis Hub Greenlight, an initiative to bring more games to the Mavis Hub game launcher.

• Pixel Vault released a trailer for its upcoming game, BattlePlan.

• Sorare launched its latest wave of Amateur Drafts.

🌐 Virtual worlds

• Decentraland launched Smart Wearables and Portable Experiences.

• OnCyber introduced World Builder, a new DIY resource for building immersive experiences around your NFTs.

🪙 NFTfi

• JPEG’d received 5,495 WETH back from the recent Curve exploiter.

• MetaStreet activated multi-currency pools.

• Uniswap launched on Base.

🎆 Mint spotlight: Parallel Starter Packs

As part of the ongoing Onchain Summer festivities, sci-fi card game Parallel is dropping five different sets of Starter Decks on Base for 0.05 a pop over the next few weeks. Each deck will grant you 40 cards to start playing with + 10 apparition packs. If you’re like me and have been waiting for a straightforward entry point to start exploring Parallel’s gameplay, this is it!

🙇 New insightful reads to level up your web3 knowledge!

1. Eric Wall on his “Orb” NFT system 🔮

2. dr3a.eth on multichain ENS ⛓️

3. Small Brain Games on Words3, a crypto crossword game 🔤

✨ My NFT tool of the week: CoinGecko NFT Price Alerts

When it comes to tracking crypto prices I’m personally a CoinGecko stan, but in recent times the platform’s caught my attention in also doubling down on NFTs with some useful new features. The latest here, NFT Price Alerts, lets you create custom floor price alerts for your favorite collections so you can get real-time price movement notifications on the go. It’s simple to use and great for staying plugged in even when you’re tuned out!

😜 Just one more… please…

Weekly action steps

• 🆕 Read This Is the Last Cycle, Stopping Bridge Hacks, and 5 Crypto Startups to Watch in Bankless

• 🙇 Catch up on my other NFT write-ups from this week: 

  • ♾️ NFT Infinity Mints

  • 🎉 Happy Birthday Nouns

  • 🔐 10 Steps for Crypto Security

A Bankless Citizen ⚑ turned $264 into $6,077 last year. A 22x ROI 🚀 in a bear market!

Level up

🙏 Together with 🦊 MetaMask Portfolio 🦊

The web3 ecosystem is an expansive world, full of endless opportunities for those curious enough to explore them! Head over to MetaMask Portfolio to get started, where you can view your assets in one place and discover other features such as Buy, Swap, Bridge, and Stake.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.