GM

I'm in a good mood today, and it has nothing to do with market fluctuations that exist completely outside of my control (it does).

Links for the Top 25 drops are HERE.

The most expensive meme ever

Up until now, Fungibles and Non Fungibles have mostly kept to themselves, tending to their own gardens in a state of peaceful equanimity. 

But barriers are meant to be broken, and this could be the year that the two worlds finally merge, at least according to OG crypto trader Path. 

Provenance Coins 

The idea is simple: 

1. Famous internet memes are coming onchain 

2. These memes (as NFTs) can be fractionalized 

3. Those tokens can be turned into memecoins

4. These memecoins are better because they link to the actual meme

Path calls these Provenance Coins, and he laid out an entire post explaining why 2024 could be their year. I recommend reading it all but here’s a snippet: 

This thesis has legs, but keep in mind that Path is also a little biased. 

Back in 2021, he and other collectors made the first big Provenance Coin when they purchased the original “Doge” photograph for $5.5 million, thus making it the most expensive 1/1 meme NFT of all time. 

They then fractionalized and turned this into $DOG, which just last week announced a $3 million airdrop on Base that’ll be active all month. 

Bottom line

There’s an entire vertical of sacred digital objects that, so far, hasn’t really shown up in this Blessed Newsletter. 

We've covered art collections, game assets, utility passes, and other whozits and whatzits. 

But rarely do you see the classic 1/1 meme – objects that are notable simply for their ability to hack the collective zeitgeist and spread far and wide. 

Yet as culture and art collecting converge, and as more people post things onchain to timestamp their uploads in the age of infinite AI content, it makes sense that wealthy patrons will want to own a piece of that culture and rally around it. 

Will this turn into a treasure hunt with crypto natives chasing creators for their precious memes (like we saw in 2021)? 

Maybe – the most entertaining outcome is the most likely.

NOTE: These drops are lightly curated. Our only requirement is that they have recognizable founders. As usual, DYOR. To learn more go here.

harpfeeder by Miles Peyton

New York-based artist Miles Peyton teams up with Foundation’s Forever Projects for the aquatic-themed harpfeeder.

It’s a conceptual sequel to the 6-month-old OBAA (covered here), similarly presenting a collection of cryptic sea sponge creatures that live (and die) inside an interactive onchain ocean.

harpfeeder expands on the experience by introducing unpredictability to the ocean environment and making holders feed their sponge worms using a point-and-click FPS-style system.

For those traversing the boundaries of generative art (or anyone who wished they spent just a little more time with their sea monkeys in the third grade).

Love Ripples by DeeKay

DeeKay, one of the highest-selling NFT artists of all time, debuts on the Avant Arte platform with Love Ripples, a physical + digital offering.

It’s DeeKay’s first-ever physical art piece, celebrating Valentine’s day with a conglomerate of doodled characters passing around a heart in the artist’s distinct style.

The NFT is smoothly animated like most of his previous work, but the real magic might lie in the physical. One of the best I’ve seen yet, it features a still that is entirely made up of a reflective metal mirror.

It’s certainly not cheap, but for an exclusive, seemingly well-executed piece from one of the most popular artists on the market, I’ve…

✨ Added to Top 25 ✨

f r a n k .

Frank is the first art project dropping on Etcher, a Bitcoin Ordinals platform backed by web3 venture studio Thesis, which I originally covered here for their platform pass NFT.

While neither the platform nor that pass have launched yet, the team have begun lightly teasing Frank, seemingly centered on an interactive story.

Nothing has been confirmed, but it looks quite similar to the genesis collection displayed on the Etcher site, The Halvening, which if my suspicions are true, would mean a 70-supply collection is in the cards.

Will keep you posted 🔎