gm NFTs March 11 | BAYC KYC, Meebits Surge, Beanie's New Villain

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We're closing out a fun week in NFTs, which has been refreshing. Market sentiment is positive, projects are in the green and the overall NFT community seems happier - it's been a good week. But the BAYC founders decided to do their best to dampen those spirits, catching everyone by surprise.

BAYC KYC

It all started with a simple tweet.

fuck it, again.https://t.co/1KlPpVjWkb
— Bored Ape Yacht Club (@BoredApeYC) March 10, 2022

The link is to a new site in partnership with Animoca Brands, without much more information. Yuga alludes that this is the first phase of a project they have been working on with Animoca for months, that it's not the P2E game they've been hinting, and it's also not related to $APE (though the fine print does call out "virtual goods" and "virtual currency").

So what is it? No one really knows. But the kicker - the site requires KYC. To complete the form, users will have to provide either a Passport, National ID, or Driving License, along with address information.

And this is what started a firestorm of discussion in the NFT twitter-sphere, regarding privacy, anonymity and the true vision and ethos of web3. There is a whole spectrum of views, from those who were ready to KYC on the gun, to those who delayed but ultimately are ok with the decision, to those who will never KYC for an NFT or Crypto-related project.

Regardless of who is right or wrong, this is a new reality we're facing as a decentralized ecosystem is led by centralized companies that must abide by regulation. This is likely just the tip of the KYC iceberg.

Meebits Rebound on Swirling Rumors

Forever entwined with BAYC, Meebits couldn't let Yuga Labs steal the show on Thursday. Meebits surged in daily trading, jumping 35% to a 4.9 ETH floor (up nearly 70% on the week) before settling around 4.6 ETH. Buying was led by several NFT influencers, notable TropoFarmer and Farokh amongst others.

What was drove this action? Rumors. Rumors of rumors in fact. There was chatter of a rumor in the Anonymice alpha channel that perpetuated through Twitter and a long game of telephone, and top resulting rumors included "Yuga is buying Meebits" and "LeBron is buying Meebits."

What?

There is so much to unpack there, and none of these rumors have been verified in any way - but rumors are fun. And they seem to have driven this recent spike in buying volume.

What will the real announcement be? Time will tell, but we'll let you know when we find out.

Explore the collection here:

Other top movers on the day included:

Dour Darcels up 150% to 0.93 ETH
Degenz up 87% to 0.28 ETH
Starcatchers up 44% to 0.33 ETH
Quirkies up 40% to 1.7 ETH
MetaHeroes up 30% to 3.9 ETH

Beanie's Surprising New Villain

Beaniemaxi ("Beanie"), famous for his ties to Punks Comic, Pixel Vault, and Wolf Game, has taken back to Twitter recently to hype his upcoming (and potentially last) NFT project called "End Game."

He started the hype with a series of tweets calling out cash grab projects and stating that "free mints" was the best model to use. The marketing campaign was amplified on Wednesday, as Beanie tweeted out a poster teaser of End Game with a picture of a Putin-esque villain with the tagline "Heroes Work Together. Villains Destroy."

Well things got even spicier on Thursday, as a new teaser was revealed with an image that has been confirmed to be none other than Farokh, along with a tweet "This villain will burn up spaces." This reference has been verified by Farokh himself, who commented on the image and a nod to the artist.

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Needless to say, this marketing campaign is working. Hype is building for End Game. Speculation is running wild on how to qualify for the free mint, and some are turning to Look Labs and their projects. One in particular coming up this weekend that is catching attention is the new "420.game" project which is minting on March 12-14th. This weed-themed P2E has similar characteristics as Wolf Game, and includes its own in-game token $HIGH, has breeding and staking mechanisms, with an end goal of owning a weed shop. Learn more at https://greenpaper-v2.420.game/

That's it for today. Happy Friday and enjoy your weekend!

Author Bio

Tyler Warner

Tyler is a high-volume NFT trader, having reached the top 100 in NFT sales revenue using NFTBank’s rankings, a Pengu maxi (in Luca we trust), and a writer for Lucky Trader. Tyler’s writing spans market analysis, news breakdowns, project ecosystem overviews, and web3 opinion pieces.

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice. AI may have assisted in the creation of this content.