gm NFTs Feb 25: Turf Charity Sale, "The Great Delisting
Thursday was a very difficult day for many people and reinforced the idea that there are much more important matters at hand in the world than jpegs right now. But still, NFTs are important to a lot of people’s livelihoods and we will continue to write about them.
Your top stories for today:
- Big market rebound
- Turf “Object” charity launch for Ukraine
- The Great “Delisting”
Big Market Rebound
The NFT world briefly stopped in its track in the early hours of Thursday morning as news of the Russian invasion of Ukraine spread. We then saw broad pullback across the board as holders exited positions nearly universally across projects.
But things seemed to turn around in late afternoon, as both US equity and crypto markets rebounded after Biden’s announcement on US plans in response to the attack. The top NFT projects followed suit in late evening and overnight, and we are waking up to a sea of green on the board.
Some of the biggest winners on the day include:
- Doodles up 30% to 12.8 ETH
- CloneX up 25% to 13.8 ETH
- NFT Worlds up 25% to 15 ETH
- BAYC and MAYC up 5% and 15% respectively to 84 and 18 ETH
- Cool Cats up 20% to 8.9 ETH
- mfers up 43% to 3.94 ETH
Turf “Object” Charity Launch for Ukraine
The Turf NFT project announced Thursday afternoon via Twitter Spaces that it was launching an edition of 200 “Turf Objects #13” at a 0.5 ETH price, with 100% of proceeds going to Ukraine. The launch is being done in partnership with @Endaomentdotorg, and the 48 hour sale will end Saturday evening at 5:30 pm EST.
This is not the first charitable action from the team at Turf as they build out their “ultraverse”. The team has already raised $529k for environmental causes through its Power Plant auction 3 weeks ago, where 40 of the ultraverse’s Power Plant plots were dutch auctioned at a 5 ETH price point (they sold out within minutes).
As for this "Objects" NFT, its specific use within the Turf ultraverse is still a mystery, but the founders alluded that they will have utility and use cases in the future.
Learn more about the Object and charity sale here.
Explore the Turf collection here:
The Great “Delisting”
At this point you have probably seen the OpenSea page header that flashes red and green, or the multiple emails they’ve sent out, but at 2 PM EST today all of the active listings on the ethereal network will expire.
The driver for this event is that OpenSea is upgrading its smart contract to enable new features, including bulk cancellations and more descriptive signature messages with plain text. Users can either migrate their listings by 2 pm today manually, or else all listed NFTs will be delisted and the user will have to relist (at no additional cost).
There is much speculation as to the impact of this “delisting” event. Expectation is that a low percentage of users will have migrated and thus we will see large listing decreases across projects. Will floors be totally reset? Will lower listing supply lead to some rapid floor increases? What will this do to the older projects with less active volume?
We are about to find out.
Enjoy your Friday and your weekend, and give someone you love a hug today (virtual or irl)!