State of the Market, Moonbirds NFTs, Polygon Supernets, Top Tezos NFTs & More!

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In This Issue

  • I share my thoughts on the state of the market, Moonbirds NFTs, Polygon Supernets, Binance Elrond & USDN
  • Sam has a report for you on Tezos NFTs

What’s On My Mind by Lark

<h3 id="the-state-of-the-market“>The State of the Market

Survive. Sometimes this is the harsh reality of markets. We are going through a pretty rough patch in the markets right now, and the macro scene still has a lot of risks that are yet to be resolved. We could still see some very rough days for crypto ahead, or perhaps even worse the markets just keep doing nothing. We all love the exciting times, but right now crypto feels like watching paint dry… with an occasional terrifying drop. Yes, there are still some coins popping off. STEPN pulled in 35,000% gains, woohoo! NFT collections like Moon Birds went from 2.5 ETH to 36 ETH in a couple of weeks. But these are outliers, the market lacks momentum right now. The reality is that a lot of investing is boring, like really boring. Yes, crypto is an incredibly exciting technology, but the markets are dull now. Times like this do create massive opportunities for savvy investors though. The tricky part is being willing to take the risks when there is so much uncertainty in the markets. Those who can afford to buy will likely make incredible returns when the market changes direction and everything is exciting again. That being said though, please ensure your financial house is in order before YOLOing into big positions right now. Make sure you have enough cash and or cashflow to keep you solvent during an extended period of bearishness. No one knows how long all of this will last, so make sure you can go the distance. Survival is key. 

<h3 id="moonbirds-nfts“>Moonbirds NFTs
State of the Market, Moonbirds NFTs, Polygon Supernets, Top Tezos NFTs & More! - - 2024

A new pixel art collection called Moonbirds has taken crypto land by storm this week. It was created by Kevin Rose, and has made the savvy entrepreneur a mind boggling amount of money. These NFTs sold for 2.5 ETH a piece, which is WAY more than is reasonable. In total Kevin pulled in around 68 million dollars from the sale. Plus more than 10 million in secondary market fees. Wow! For some reason the market just continues to be obsessed with low resolution pixel art and is literally ready to pay $100,000 for the cheapest of these NFTs, with a new high sale of 1 million dollars for one of the rarest Moonbirds. I am not talking about Moonbirds because I think they are a good investment, and to be clear at $100,000 per bird the upside is pretty limited, and Moonbirds have already seen a lot of drama in their first days of trading. Apparently the Chief Operating Officer bought 200 ETH worth of Moonbirds on launch day, while being privy to insider information regarding rarity. 5 days later he left to start an NFT fund… WTF??? I am mentioning Moonbirds because it underlines that the market for NFTs is still red hot. Look, the NFT game is definitely not for everyone, but this does continue to be a big area of gains for investors. Which makes it hard to ignore in this current market. 

<h3 id="polygon-supernets“>Polygon Supernets

Polygon has just announced Super Nets and is backing their launch with $100,000,000 support fund. Supernets are scalable, dedicated blockchains which use Polygon’s security and interoperability. This builds another layer of massive scalability on top of Polygon. The most common misconception around Polygon is that it is just a sidechain for Ethereum, but it is much much more than that. Supernets are just the latest addition to a growing suite of scaling software including enterprise software, and multiple scaling solutions. This is a big reason why I am still holding my MATIC tokens. If you want to read more about Supernets then click HERE.

<h3 id="binance-elrond“>Binance Elrond

It has been announced that Binance will begin to list Elrond Standard tokens on their exchange. This could be a big boost to the Elrond ecosystem as it will dramatically increase the liquidity of Elrond standard tokens. Kucoin also announced they would support Elrond standard tokens a few months ago, but Binance is 10 times bigger than Kucoin, so the impact could be much more significant. Elrond I still believe is a blockchain that will surprise a lot of people. 

<h3 id="usdn“>USDN

The near protocol is launching an algo based stablecoin to challenge the growing dominance of the UST stablecoin. This appears to be a great time to do so too, since Terra’s premiere UST app Anchor will likely be lowering rates soon after passing a new proposition last month which would introduce a dynamic yield adjustment system to Anchor. Meaning the days of solid 19.5% interest are coming to an end. Enter USDN, which just yesterday announced it can now be minted. Apparently this will follow similar metrics to Terra’s LUNA and UST, essentially that NEAR will be burnt in order to mint USN, and the more popular USN becomes the more NEAR is burnt thus pushing up the price. This will definitely be an area to watch when USN launches as there could be some HOT yield opportunities. BTW I am not saying to run out and ape into NEAR, the upside is quite limited at the current 10 billion dollar market cap, but I will be keeping an eye on the ecosystem. 

🔥 IN CASE YOU MISSED IT 🔥

Check out this awesome video I made on NFT investing 👉 https://youtu.be/jWK6Nqx9UsQ

Tezos NFTs by Sam

While Ethereum dominates the NFT space, an alternative blockchain to take a look at is Tezos. The Tezos NFT ecosystem has a very distinctive culture. It’s heavily art focused, and comes across as avant-garde and experimental.

This is reflected not only in the NFT collections, but even in some of the NFT marketplaces themselves, which feel very different but can, in some cases, be difficult to navigate.

In general, there’s far less talk of things like utility and staking mechanisms, fewer PFP projects relative to the number of art collections, and rugpulls seem to be less of a concern (but you should still be very careful).

On the whole, if you’re looking for a change, and want to explore the artistic side of NFTs, then Tezos is well worth trying. An additional positive of using Tezos is that you don’t have to worry about expensive gas fees.

<h3 id="wallet-and-currency“>Wallet and Currency

Tezos is a smart contract blockchain, making it suited to decentralized apps and NFTs. Its token is XTZ, which is what you’ll be using to trade NFTs. You can buy XTZ on major exchanges including Coinbase, Binance, and Kraken.

Having acquired some XTZ, you’ll need to send it from the exchange to a Tezos wallet. There are many wallet options, but if your focus is NFTs, then a very easy, NFT-friendly one to get set up with is Kukai. This is a browser based wallet, which you can connect up to a Ledger for greater security.

You can directly view your NFTs in a Kukai wallet, and you can also buy XTZ through Kukai, via Moonpay (although whether or not Moonpay will work for you depends on your region).

<h3 id="marketplaces“>Marketplaces

Objkt

The largest dedicated Tezos NFT marketplace is Objkt, and it’s also the most approachable (meaning, basically, it’s the most similar to OpenSea). Rather than a connect wallet button, there’s a sync option (up at the top right of the page). Click on that to hook up your wallet and you can start shopping.

Teia

This is a community-owned fork of Hic et Nunc (see below), meaning that it looks and operates in a very similar manner to Hic et Nunc, and has been growing significantly in activity since mid-March, while Hic et Nunc itself has been on a downward trajectory.

Hic et Nunc

Also written as HEN or H=N, this site closed down last year, and was then reopened at a slightly different address (.art rather than .xyz). Most of the data beneath the HEN frontend was on the blockchain, so no collections were lost. Hic et Nunc has actually acted as a marketplace, a community, and a minting platform.

Fxhash

This is a creator platform and a marketplace, with a sandbox feature that allows artists to test out how their work will look when it’s minted. It specializes in generative art, so if that’s what you’re into then it’s always worth checking in to see what’s being produced.

Rarible

Tezos is featured among the several blockchains included on the well known NFT platform Rarible. As Rarible isn’t primarily a Tezos marketplace, it doesn’t have the same kind of unmistakably artistic, unusual design as the others on this list.

Also, something else that might come in handy is a Tezos blockchain explorer.

<h3 id="collections-and-artists“>Collections and Artists

As so much of what you find on Tezos is art in an NFT format, it’s really worth taking the time to browse, find creators you like, follow connections and see where they lead. Exploring Tezos NFTs is like looking round a gallery to see if there are any items you’d like in your collection. It’s very subjective, but here are some places to get started.

John Karel

State of the Market, Moonbirds NFTs, Polygon Supernets, Top Tezos NFTs & More! - - 2024

Perhaps the most famous artist within the Tezos ecosystem, also going by the name of jjjjjohn, John Karel is best known for his Window Still Life collection.

Mjlindow

State of the Market, Moonbirds NFTs, Polygon Supernets, Top Tezos NFTs & More! - - 2024

In the abstract, generative art field, you should be aware of Mjlindow, who has produced several highly valued collections on the fxhash platform, the largest of which only runs to 571 pieces.

Paper Buddha

State of the Market, Moonbirds NFTs, Polygon Supernets, Top Tezos NFTs & More! - - 2024

You can find Paper Buddha’s work on Ethereum and Solana too, but they have consistently released psychedelic, mysticism-channeling work on the Tezos blockchain, and also work to build and maintain an artistic community.

Tired Pixels

State of the Market, Moonbirds NFTs, Polygon Supernets, Top Tezos NFTs & More! - - 2024

Created by a game developer going by the name of Armilk88, this is pixel art at its finest, and shows that whatever style of NFT art you’re interested in, you’re likely to find some high quality collections on Tezos.

BWOPLE

State of the Market, Moonbirds NFTs, Polygon Supernets, Top Tezos NFTs & More! - - 2024

The closest on this list to a conventional PFP drop, BWOPLE features clean, stylish design work, and demonstrates that PFP projects can be distinctive and original when they’re executed with care. Created by Gengoya, an illustrator, these pieces are all hand-drawn, rather than generative.

<h3 id="clean-nfts“>Clean NFTs

Finally, one thing you might notice when you dive into Tezos NFTs is the #CleanNFT hashtag. This is Tezos, due to its employment of proof-of-stake, being touted as a more environmentally sustainable option when compared to proof-of-work blockchains such as Ethereum (although Ethereum plans to convert to proof-of-stake).

This may or may not be something you’re concerned about, and Tezos is certainly not the only blockchain that makes such claims, but anyway, it’s something that is especially emphasized in Tezos NFT circles.

GO PREMIUM TO SEE THIS WEEK’S TOP 3 NFT MINTS

Final Notes

Thank you so much for your support, and I truly hope that today’s issue will give you insights needed to help you master your wealth.

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Lark and the Wealth Mastery Team

Legal Disclaimer

TCL Publishing ltd (director Lark Davis, owner of Wealth Mastery) is not providing you individually tailored investment advice. Nor is TCL Publishing registered to provide investment advice, is not a financial adviser, and is not a broker-dealer. The material provided is for educational purposes only. TCL Publishing is not responsible for any gains or losses that result from your cryptocurrency investments. Investing in cryptocurrency involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment. Investors should consult their financial adviser before investing in cryptocurrency.

Join the Wealth Mastery Investor Report

By Lark Davis

Combining cutting edge insider insights and done-for-you market analysis to deliver crypto investors the best opportunities to grow their wealth, stay ahead of the curve, and avoid costly mistakes! We cover DeFi, NFTs, Altcoins, Technical Analysis and more! 

Join the Wealth Mastery Investor Report

By Lark Davis

Combining cutting edge insider insights and done-for-you market analysis to deliver crypto investors the best opportunities to grow their wealth, stay ahead of the curve, and avoid costly mistakes! We cover DeFi, NFTs, Altcoins, Technical Analysis and more! 

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