Pinned Tweet
It me! and two turtle doves ⏯
🕊🐢🕊
Be back tomorrow to get on the roof 🔥 @saveartspace @gmoneyNFT fugio.eth #cryptopunks
Fugio retweeted
This is fascinating.
Gondi just released a new feature that lets you buy a listed NFT for a portion of the total sale price.
An XCOPY work is listed at 100 ETH.
There is a loan offer on it for 50 ETH.
The buyer only needs to make up the delta (50 ETH).
In one transaction, the current owner receives 100 E (from two parties), the NFT transfers ownership and the new owner takes on the loan terms.
Interestingly, this works with Punks directly listed on the Punks marketplace as well.
Fugio retweeted
rights are not "when you give me something."
rights are "when you don't get in my way."
there is no right to GET something. there are only rights to not be limited.
Fugio retweeted
PunkStrategy has now purchased a 5th CryptoPunk
All of the punks purchased by the protocol are relisted higher
Eventually, the ETH from these punks will flow back into $PNKSTR
Fugio retweeted
NFT treasury companies are coming
Whether we’re ready or not
GameSquare’s $5.15 million Punk acquisition is just the beginning
The math is simple: $8 million CryptoPunk sweep moved the floor 8 ETH overnight
Now imagine $50-100 million funds buying in
We've seen this playbook with Bitcoin treasuries like MicroStrategy, converting corporate cash to BTC to become a publicly traded crypto proxy
Now it's JPEGs getting the treasury treatment
The entire NFT market cap is still only the size of a single top 25 chain like Uniswap
The upside is clear
So are the concerns
Is the world ready?
Not really… but that's never stopped this space before
Fugio retweeted
For a bit of background:
GameSquare’s largest investor is Jerry Jones. Jerry owns the Dallas Cowboys.
There was only one Punk that truly made sense. 5577. Ape with Cowboy Hat.
Fugio retweeted
With the exception of Jan 2021...
BTC.D+ETH.D+USDT.D+USDC.D likes to top at around 82%
In Jan 2021, this metric went to almost 90%.
Currently at 79.64%
Fugio retweeted
10/
Vast majority of NFTs focus solely on growing their own IP after a presale. NFTs are reduced to a crowdfunding mechanism. This is a fine use case but I do not believe the market wants this to make up 99% of projects.
This imbalance is a result of (lack of) education and incentives. Collectors do not know what they do not know. Most have only ever been exposed to NFTs as IP. Creator incentives are also lacking because the barrier for custom art at the contract level is much higher than cloning a basic NFT contract.
If you can market well, it’s much easier to make future IP promises vs design/build new mechanisms and deliver everything up front. The money spends the same.
Fugio retweeted
there is literally no investor on earth, big or small, who doesn’t sometimes think
“you know, if i had made that move at that point back in the day, i’d have double the money i have right now,” etc.
this actually gets much worse if you then also think about compounding of potential gains over time
they key is to be able to reflect and learn from those moments to improve your behavior for the future, but also to forget about them so they do not shatter you psychologically and force you to make risky decisions so you can “make it all back in one trade” because you are anchored to hypothetical gains which don’t exist
it’s a fine balance
Fugio retweeted
For those of you who aren't sure what this means for Punks, let me try to explain the significance.
The Punks IP is now in the hands of a well capitalized and art centric Non profit called the Node Infinite Foundation.
This means punks IP has found its "end of the line" where it can grow and flourish without any need to monetize or be corrupted in any way. We've all wanted punks to be left alone, and I do think we have exactly what we want.
Furthermore Matt and John are back in an advisory role, as well as Snowfro. Welcome back!
after taking a good look at this announcement, it's seriously about as bullish for Punks as it could get.
xitter.cf/cryptopunksnfts/status…
We are excited to announce CryptoPunks have found a permanent home at The Infinite Node Foundation.
@nodefnd is a non-profit committed to the preservation and expansion of contemporary digital art.
@larvalabs founders & artists Matt Hall & John Watkinson are returning to join in a guiding role for the future of Punks - alongside advisory board members @GordonGoner and @ArtOnBlockchain.
Fugio retweeted
What a wild couple of weeks since joining OpenSea.
I wish you all could see inside the walls. The team is ridiculous. The energy and passion internally at OS is contagious. The speed at which things are being built and iterated on is beyond anything I’ve experienced in my career. It’s been a long time since I’ve felt this motivated and excited.
I read the daily comments and Discord messages. First, I want to simply say thank you. Your candid feedback is important and appreciated. And I know you all have questions about the token, how the Foundation is looking at retro activity, our rewards approach and more. When I joined, I posted about the importance of communication and transparency. So in the interest of that, let me share a few things with you:
OpenSea is evolving from an NFT marketplace to the best destination to discover, own and trade on-chain. OS2 is just the canvas. The masterpiece comes next—more chains, mobile, deeper features, and innovations that will redefine what you expect from us.
Web3 doesn't need another rushed, ill-conceived token launch. The Foundation is obsessed with getting it right—from utility to distribution to timing. This will be a watershed moment not just for OpenSea but for web3 as a whole. $SEA is being designed thoughtfully with the long term in mind, not as a memecoin to be farmed and forgotten.
I’ve confirmed with the Foundation that past history will of course be rewarded. This will happen at TGE and users will receive an allocation of $SEA. This is separate from XP in OpenSea’s rewards program, which is about incentivization to explore OS2 moving forward. If you’re a long-term user of OpenSea, we see you.
Speaking to XP specifically, we’ve decided after talking deeply with the community that liquidity leaderboards will not be coming back. They drove substantial volume to OpenSea, but weren't creating healthy activity and we paused them swiftly. In their place, we've built a robust system that rewards natural engagement with OS2 over pure volume.
• The new program is launching soon.
• Wallet size won’t determine your opportunity.
• We’re taking meaningful steps to ensure that real users are rewarded, not bots.
• This rewards system will become foundational for what comes next.
I genuinely believe that OpenSea has the best team, product, and opportunity in crypto. I’m privileged to be able to play a small role in its success.
Sails up 🌊
Fugio retweeted
A startup's initial problem is usually what the product should be and how to get the first users. It may sound like those are two problems, but they're not. Ideally you solve them simultaneously, and the process of trying to get users shows you what the product should be.
Fugio retweeted
Meanwhile their favorite solana trading platform is taking a 1% cut and they’re losing another 5-15% on slippage and MEV, and another 2% to the LP fees on each trade and they aren’t turning it into an ideological holy war
Fugio retweeted
3/ You can start accumulating Bits today by trading Meebits on OpenSea. If you’re a current collector, you’ve already been earning Bits based on your holding period, and these will be retroactively assigned to you when the Bits portal launches. Find more details in the release below.
Fugio retweeted
I think another reason why this cycle feels different is because in past cycles there was always at least the promise/excitement of what could actually be accomplished with crypto and how it could make things better.
This cycle has none of that. It’s all about memecoins, ETFs, and strategic reserves.
So the goal is getting crypto in front of more people, not actually improving the industry itself