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Welcome to the 19 people who joined yesterday.

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In today’s edition:

• Something is brewing…

• The latest NFT rankings

• New drops we found

More info on Mint/Watch lists HERE.

Something is brewing

Context

Crypto artist Ripcache announced a new piece of physical art called Public//Private that comes with a “digital twin” NFT with the same design.

Here’s the catch: the key to the NFT is laser etched into a metal plate inside the artwork. If you want to trade the NFT, you’ll have to partially destroy the physical.

It’s a 1/1 auction, which we usually don’t cover, but we’re highlighting it because we think it’s part of an exciting new trend that could go mainstream.

My Take

I’m obsessed with a website called Know Your Meme. Check it out if you ever need the backstory to any memes you come across on the internet.

It’s been a great resource to round out my advanced studies in online lore and memeology. Perfect for those regrettable moments, however brief, when I spend time away from a screen.

Here’s one thing it has taught me…

Memes bubble up slowly

None of these Overnight Sensations actually occurred overnight. There are always signs along the way.

Take Wojak for example. You might recognize it as one of the most popular crypto memes today, but that only came after years of bubbling up through random Polish, Italian and German forums.

The same thing often happens with viral apps. Pokemon Go was an “overnight sensation” but only because it was built on ideas that were bubbling up for years from games like Ingress and Zombies, Run.

And it’s happening today with Physically-Backed NFTs

Look I know it’s not the most elegant name, but I’d rather succumb myself to a 10 hour loop of Friday by Rebecca Black than say the word “Phygital” out loud.

The point is, creators are finding more ways to tie NFTs to physical consumer products.

Here are some examples from the great Making Waves substack:

• Burn to redeem. NFTs are burned to get a physical.

• Redeem to retain. NFTs can claim a physical without burning.

• Redeem and replace. NFTs get replaced after redeeming a physical.

• Redeem NFT from physical products. Buy a physical and claim an NFT.

• Tokenized physical assets. NFT is linked to the physical forever.

Ripcache’s latest drop is a new spin on this. It comes with a rare NFT that already exists and is getting bids over 20 eth, but it’s only tradeable if you separate it from the physical piece forever, partially destroying the art in the process.

(Funny enough, the top bidder is currently Ben.eth who somehow is finding time to collect art while leading the $PSYOP circus.)

I think we’re seeing the building blocks of a future viral sensation.

Imagine a physical collectible

Perhaps a Pokemon toy or something like it. You buy it because it’s a cool object that looks great on your desk, but also because it comes with a scannable key that works as an Access Pass into Pokemon’s Season 1 Metaverse Game (making this up as I go).

Maybe there are only so many Access passes, so it’s easy for you to find buyers for the physical collectible.

But wait – there’s more. The toy can actually be cracked open, or torn apart like a pack of cards. And inside there’s a second key that gives you access to a random tradeable Pokemon NFT.

However, claiming the Pokemon means that the first code no longer works as an Access Pass - the physical collectible has lost all utility.

Why crack it open? Well because there’s a chance you get an ultra-rare Charizard, which is highly valued on secondary markets, but there’s also a good chance you get a common instead, in which case you were better off just keeping the toy intact.

This is Willy Wonka Golden Tickets on steroids.

I came up with that idea in 5 minutes, it’s not perfect, but the point is that there’s a brand new design space here that someone can and will score with.

These products combine the best of both worlds 

The tangible ownership of a Real Thing, and the network effects of an online flex, which is something people increasingly value.

We saw another example of this recently with Pudgy Penguins. They’re selling physical toys that come with a non-tradeable Penguin NFT, but also a loot box of tradeable traits that can be used on those Penguins.

The challenge, as usual, is making it so that people will want the toys for reasons other than speculation.

Bottom line: something is brewing, and it’ll only seem like an Overnight Sensation if you weren’t paying attention.

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

My First DAO

Upstream, a no-code DAO-builder co-founded by Truth Labs’s Alexander Taub, is launching My First DAO, a weekly workshop series where participants learn about complex DAO topics.

To join, you need a DAOphin NFT. The open edition mint, featuring art by goblintown artist Process Grey, started yesterday and runs until May 29th. The program starts shortly after that and ends in December with a party at Art Basel Miami.

Interestingly, the program will transfer the project’s IP and treasury to NFT holders at the end. Check out their blog to learn more.

sssymbolsss by Darcel

Darcel, known for 2022’s Dour Darcels, is launching his open edition, sssymbolsss, this Wednesday on OpenSea for 0.02 ETH.

This colorful collection explores coded language, with each piece symbolizing a different letter.

A DECODER app will launch sometime after mint, followed by a CODER that will allow holders to create their own cryptic messages using their held NFTs.

SZNS by jak & hiroji kotegawa

SZNS is a collaborative collection fusing traditional Japanese art with glitch and pixel styles, forming unique, soothing pieces.

The 888-piece collection starts minting tomorrow at 3 PM EDT. The mint site hasn’t been announced so stay tuned by following the artists.

Holy Script by SarahScript

Sarah Richardson, a calligraphist with a long track record in the NFT art space, is launching a 3-day open edition on OpenSea this Friday for 0.018 ETH each.

The collection emphasizes the intrinsic value of handmade art in an AI-dominated world.

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. Symbiogenesis. Square Enix's upcoming gaming NFT.

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

5. 10KFT PFP. Drop from a team that includes Yuga and Beeple.

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

7. BIG INC. New free mint from the goblintown team.

8. Dimensionals - EVE. Free gaming PFP from doxxed studio.

9. Squiggles. Limited auction of the OG gen art collection.

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