GM

NFTs are for serious people only. Please dress accordingly when you go onchain.

In today’s edition:

• This could get ugly fast…(new drop)

• Updated Top 25

• 4 new drops

Links for the Top 25 drops are HERE.

Did you know?

We have a premium pass that gives you access to a directory of every drop we cover, complete with detailed information on how to get on every whitelist (including those underrated ones that aren’t already full).

And for those curatooors out there, you can get free NFTs just by finding drops that end up on the Mint or Watch list.

Lastly, hang with me and the MoS team in a private discord with weekly voice chats. The vibes are great.

Would you like to be featured in Mint or Skip like the above ☝️ ?

This could get ugly fast…(new drop)

Context

FingerprintsDAO announced Proteus, an upcoming drop from artist and lawyer Alfred Steiner.

The project is built around a radical twist:

What we know about the mint:

• Date: October 19th

• Supply: 1,024

• Price: DA starting at 0.2 ETH, resting at 0.05 ETH

Our take

> be me

> mother-in-law loves animals

> buy her the best ducks-on-a-pond painting in town

> “thanks yung cicero you shouldn’t have”

> she hangs it on her wall

> it immediately transforms into this:

That exact scenario is now in play with Proteus, which lets anyone with an Ethereum account change the URI (image/metadata) of any Proteus NFT at any time.

It’s an interesting mechanic, but perhaps even more interesting are the fees for changing the URI.

How fees work

1. You need to pay to change the URI

2. Fees start at 0.003 ETH but increase with each change

3. Fees are split between holders, Proteus creators, and a pool

4. Pools can be claimed every 30 days by the most active URI changer

There’s an almost friend.tech element to this where fees are shared with the holder and founding team, and you can see scenarios where the “most active URI changer” actually makes a profit from pocketing extra fees through the monthly pool.

But things could get ugly fast

Letting the internet change the art of your NFT through anonymous decentralized means…praytell, what could go wrong?

We can imagine the most lewd, racist, vile imagery on the internet making its way into this collection (I had to tone it down for the email but I really wanted to use this image).

And while holders have veto power (they can change the URI back at no cost) they have to wait until a lock-up period is over after each URI change.

Not sure how many people are going to want to display these in their virtual galleries.

Bottom line

There are some cool mechanics here, and my head was swirling this morning with a bunch of fun derivative ideas playing with “anyone can change the URI”.

But ultimately I think the large supply hurts it, for two reasons.

First: 1,024 NFTs at a 0.05 resting price, plus fees? That’s a tough sell in this market.

Second: Splitting attention across 1k NFTs makes it a little less fun when changing the URI of a single token. If the supply were 100 or less then you’d know your change might get more attention. But at 1k, every individual action could feel insignificant.

Still, we love to see this kind of experimentation.

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

6529 Meme Card #152 by Miss Al Simpson

While we wait for the debut of the 6529 Memes generative drops next month, the platform is collaborating with OG crypto artist Miss Al Simpson for the start of Season 5, just a couple of weeks after their Season 4 finale (featuring Killer Acid) sold out.

As usual, the release follows the 6529 allowlist model determined by collector holdings (snapshot already taken).

Vida Mágica by Fran Rodríguez

A big fuck you to reality and the laws of physics.

That’s the raison d'être for this upcoming Nifty Gateway Curated drop by Spanish artist Fran Rodríguez, a.k.a. lacabezaenlasnubes, which showcases the artist’s dreamy, psychedelic vibes he’s known for.

One for the science deniers.

SHILLR Media Season 2

Web3 marketing agency SHILLR offers front-row seats to their content with their Season 2 Media Passes.

These will feature improved benefits compared to what we saw in Season 1, including more art drops and partnerships. Plus, they’ll come in different tiers (three revealed so far): Core, Collector and Premium.

Check out their Season 1 recap to get a better idea of what you can expect from these passes.