GM

Welcome to the 574 people who joined over the weekend.

We’re jumping into your inbox like the Greeks entered Troy on this same day in 1184 BC.

Except, we’re not actually tricking you, and we’re not at war. Just talking NFTs. Is this making any sense?

In today’s edition:

• Nike’s big play

• Our latest NFT rankings

• Drops we found over the weekend

More info on Mint/Watch lists HERE.

Nike's Big Play

Context

Nike is launching the Our Force 1 collection on May 8. This marks their “first virtual collection” and the start of their .SWOOSH platform.

In total there will be 106,453 boxes with virtual sneakers priced at $19.82, beginning with a pre-sale and then extending into a public sale for the remaining boxes.

We first covered this here, and energy and excitement have continued to build in recent weeks.

✨ We’re moving the Our Force 1 collection to #1 on our Mint List. ✨

Our Take

How does the NFT space 100x from here? How do we turn this community from a sleepy mountain village with a population of, like, 30,000 people, into a bustling metropolis with tens of millions of active collectors?

For a couple years, the strategy was hilariously simple. It went something like “let’s just sell collections that are super scarce, and then pump the price really high so Jimmy Fallon talks about it on The Tonight Show, and then do that continuously until everyone loves web3”.

I’m not exaggerating. You really would hear people say things like this on Twitter on any given night, often while high-fiving each other.

And for a while it worked… until it didn’t. For every one person that came to web3 to buy a $50k digital Rolex that they hoped to quickly sell for $70k, 10 other people were turned off by what they perceived to be ponzinomics and an overemphasis on money.

Now we’re seeing a new path. Large brands are taking a more holistic approach. They’re building long-term ecosystems, and doing it very slowly so they can manage hype. They’re selling low-cost NFTs, often priced at $10-50, and creating their own marketplaces so they can own the full experience. They’re emphasizing fun or utility as opposed to floor prices.

Reddit. Starbucks. Adidas.

Then there’s Nike, the first major brand that took NFTs seriously. I still remember how insane it felt when everyone found out they acquired RTFKT for likely +$150 million.

And this came after they had filed a series of patents around digital sneaker NFTs, with the earliest one happening in 2019(!).

They’ve been thinking about this stuff for a long time. Now they’re taking a huge first step toward turning it into a reality.

Why did we move Nike to #1 on our Mint List?

First, the drop is well thought out. Whoever is running the show at Nike has been paying attention:

• FOMO locked in. Only ~30% of the 330k .Swoosh members got a mint pass.

• Great designs. All the sneak peeks legitimately look cool.

• Loot pack mechanics. You don’t know what you’ll get when you open a box. There’s even a single rare 1-of-1 all-white Air Force 1.

• Clear utility. The sneakers double as a mint pass for future drops and events.

Second, Nike is now leading with .Swoosh (not Clone-x). Everything we’ve seen coming out of Nike recently suggests that .Swoosh will be the centerpiece of their “metaverse” play.

Nike is here to make those Big Bucks. They’re Justin Timberlake in The Social Network saying “A million dollars isn’t cool, you know what’s cool – a billion dollars.”

And in this market, it’s not clear how a PFP collection like Clone-x gets you to a billion dollars in annual revenue. So they’re de-emphasizing them a bit.

Lastly, we’re ecosystem fan bois now. We still love indie collections and experimental on-chain stuff, but our bodies are ready for some sweet mass adoption.

There are many large brands taking shots on goal now, and if just one of these hits in a big way it could change the course of the space dramatically.

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

Heartstrings by taj

Pindar Van Arman's sovrn.art platform is releasing a new collection by taj, which showcases imaginative AI artwork with a threaded 3D style.

The 400 supply collection will mint on Tuesday for 0.05 ETH, as part of the Sovrn Open initiative which highlights emerging artists.

One for those daring enough to bet on an up-and-coming AI craftsman.

e30d: May 2023

Glitch Marfa, “an analog gallery for internet objects” co-founded by Derek Edward Schloss, is launching its first NFT e30d at the beginning of next month.

This will be an ongoing IRL x digital monthly series where Glitch will exhibit an existing, notable digital artwork (goodbye, phygital, never liked ya).

A 1,000-supply, 0.02 ETH digital poster edition designed by Carolina de Bartolo (former Director of design at Art Blocks) will accompany each exhibition.

We’ll be curious to see if the gallery’s performance over the long term could turn these posters into coveted collector’s items.

Iskra Velitchkova - Tonic drop

Tonic is back with another generative art drop, this time with Iskra Velitchkova, the popular Madrid-based generative artist who’s previously had very successful collections on platforms like fxhash.

This comes as a follow-up to Tonic’s successful William Mapan drop in March.

Can they knock it out of the park again?

Club 3

Meta Hollywood is a partnership like something out of a fever dream: Animoca Brands x Planet Hollywood.

They’ve already released movie memorabilia NFTs and now are launching Club 3, a members-only social club in West Hollywood, LA, with plans to open in other cities in the future.

Club 3 lifetime membership passes will come in two tiers:

1. The Social tier: Grants full access to the premises and its events. 3,000 supply priced at $3,000 each

2. The Founding tier: Grants special VIP access in addition to the access in the “Social” tier. 500 supply priced at $10,000 each

THE MINT LIST

1. Nike Our Force 1. Digital shoe drop from the global consumer brand.

2. Project Animus. RTFKT's biggest launch since Clone-X.

3. FewoWorld. New PFP by Fewocious, a rising star in the art world.

4. Symbiogenesis. Square Enix's upcoming gaming NFT.

5. Ether. Anime PFP collection by viii, an artist with a cult following.

6. ZOGZ by Matt Furie. Open Editions from the creator of Pepe.

7. 10KFT PFP. Drop from a team that includes Yuga and Beeple.

8. Proof Diamond. Curated drop with art from Beeple and other artists.

9. Garbage Friends. New PFP from the creator of Invisible Friends.

10. Bright Moments Tokyo Contemporary. Next drop from BM.