Latest Chromie Squiggle by Snowfro News

Eruption No. 2 of Burn Island is starting today, according to a tweet from VeeFriends.

❗ Why It Matters

Burn Island Eruption No. 2 brings an exclusive auction for three yet-to-minted Chromie Squiggle NFTs. Participants can bid and burn BOOK GAMES tokens, with only the three highest bids winning the auction.

This auction is a part of many upcoming Burn Island events that "unlock rare and valuable NFT collectibles, access to unique events, and physical or virtual rewards through its deflationary technology." Rewarding holder bases is at the forefront of conversation for NFT projects, and VeeFriends joins Memeland and Yuga Labs as perhaps the most aggressive in providing opportunities to holders in recent weeks. 

🔎 The Deets

• The auction will be open from March 16 at 5:00 p.m. ET until Mar. 24. 
• Participants must hold a VeeCon 2022 ticket on their VeeFriends account to participate.
• Bid size is equal to the number of BOOK GAMES tokens burned, and bids can be increased by burning additional tokens.
• Tokens of non-winning bids will be returned, and only the three highest bids will have their tokens officially burnt.
• The winner will be viewable on the leaderboard at the conclusion of the auction, and a confirmation email will be sent upon placing a bid.

🧠 Learn More

• VeeFriends Burn Island Details

Collective ownership platform Tessera announced the launch of an ApeCoin staking vault on Monday, with both the lack of a geo-filter and the ability to auto-compound yield providing alternative options to other $APE staking methods. 

Happy $APE Staking Day!

I am excited to announce @tessera's entrance to the world of Yuga with our ERC4626 compliant $APE vault

With our vault you can deposit your ape and passively compound

Our auto compounding vault takes the staking APY from 197% to 613%

Here is how 👇

— andy (@andy8052) December 12, 2022

The vault currently only serves the $APE-only pool, with the NFT-gated staking pools will be rolled out at a later date.

The auto-compounder feature allows users to automatically deploy rewards back into the pool, passively compounding earning. 

ApeStake.io is the official front-end interface from Horizen Labs, the blockchain technology company tasked with building out ApeCoin staking. The platform is currently geo-blocked in several countries (including the United States) due to regulatory concerns, forcing many users to seek out alternatives. 

Tessera also announced their second fractionalized vault coming Thursday, with a Chromie Squiggle from Snowfro up for purchase. 250 'raes', or NFTs that represent a share of ownership over the vaulted NFT, will be created and sold utilitizing a last price dutch auction format.

The previous vault, which featured CryptoPunk #4847, was bought out for 82 ETH by notable market-maker PunksOTC.

Art Blocks founder Erick 'Snowfro' Calderon has minted 15 new Chromie Squiggles to the collection, the artist tweeted on Thursday. 

Hey friends heads up 15 squigs coming through the minter today! These are going to amazing folks and causes including an art swap, charity, higher ed, museum, a cousin, collector group, and handful of beautiful and wonderful people I’ve crossed paths with on this journey.

🍻❤️🇲🇽

— Erick / Snowfro / 🔱 / 🦩 / LAO / #️⃣ / 🔴 (@ArtOnBlockchain) November 17, 2022

The NFTs will be distributed by Calderon, going to 'an art swap, charity, higher ed, museum, a cousin, collector group' and others chosen by the artist. 

Snowfro has said he will mint out the 10,000-edition collection by the end of 2022, with the new 15 bringing the current supply total to 9,699.

Let's take a look at some specific collections, with a focus on the number of WETH offers accepted versus total sales.

• Bored Ape Yacht Club: 7 WETH offers out of 11 sales (63.6%) 
• CryptoPunks*: 2 WETH offers out of 8 sales (25%)
• Azuki: 9 WETH offers out of 15 sales (60%)
• DigiDaigaku: 2 WETH offers out of 5 sales (40%)
• Moonbirds: 10 WETH offers out of 14 sales (71%)
• Squiggles: 6 WETH offers out of 12 sales (50%)

*Punk metrics based on bids accepted vs market buys.

So Moonbirds owners are "capitulating" the most, with Punk owners the least.

Another important takeaway from the high-level data is the general trend line. The WETH ratio seems to be moving steadily up as this year progresses. The rate was in the 0.05-0.1 range from January to May (bull market) but has been grinding up since. Since October, the ratio has been in the 0.2-0.3 range, indicating that 1 of every 3-4 sales is someone taking a WETH offer.

How can an NFT trader use this information?

Well, consider making WETH offers for NFTs instead of market buying. This trend will likely continue as long as the crypto volatility continues.

Chromie Squiggle #9502, one of only 42 "Full Spectrum" Squiggles, sold for 130 ETH on Sunday night. 

The sale took place on X2Y2's NFT marketplace, where the seller yielded no fee to the marketplace, recouping all 130 ETH or approximately $203,000. Only one Full Spectrum Squiggle is listed for sale on OpenSea's marketplace for 650 ETH. 

The most recently traded one was sold six months ago for 229 ETH or $360,000 at the time of purchase. After the purchase, the Squiggle was transferred to a wallet belonging to Punk6529. 

Chromie Squiggles have been gaining tons of steam in the last week, jumping more than 14 percent to 16.83 ETH at the time of writing. The move has pushed the project up to No. 6 overall in our Lucky Trader Power Rankings. 

Art Blocks founder Erick Calderon, known as Snowfro, will be live minting 10 Chromie Squiggles on Friday for SquiggleDAO. SquiggleDAO is the fourth-largest Squiggle holder which has a mission to showcase the NFT's "relevance in culture," and will reach its goal of owning 300 Squiggles.

The mint will take place during a Twitter Spaces on Friday at noon ET. Snowfro has said he will mint out the last 325 in the 10,000-edition collection by the end of 2022.

SquiggleDAO has a stated goal of acquiring "as many Squiggles, including rarer types, as possible for the DAO treasury." The organization has a long-term goal of collecting 1,000 Squiggles. 

On Oct. 13, SquiggleDAO swept 14 Squiggles priced near the floor of the collection, moving the floor price then from 10.5 ETH to 12.5 ETH.

The Squiggle is Snowfro's only collection on the platform he founded in early 2021.

The SquiggleDAO wallet contains a little more than 696 ETH and $2.8 million USDC as of Tuesday afternoon.

"We just swept 14 Squiggles off the floor," the DAO wrote on Twitter. "Not because we wanted to, but because we had to. We are on a journey to building the best collection of Squiggles in the world. One day we will have 1,000 Squiggles in our vault, but today we stand at 289."

The DAO has committed to owning 300 total Squiggles by the end of the year, and after that goal is accomplished, a major announcement is coming, according to the DAO.

SquiggleDAO is now the fourth top Squiggles holder, passing popular NFT personality gmoney. Two anonymous accounts hold 367 and 413 Squiggles respectively, and Who_dis owns 1,006 of the NFTs.

"Our mission is simple," the DAO wrote on Twitter. "Acquire as many Chromie Squiggles as possible; generate as much Squiggle culture as possible."

A Chromie Squiggle by Snowfro sold for 150 ETH earlier this evening according to OpenSea.

KROVAULT, the user who purchased the NFT via an accepted wETH offer, holds multiple rare/high floor price NFT collections such as CryptoPunks, Admit One, as well as two 1/1s from XCOPY.

The sale for Chromie Squiggle #7046 comes more than 1500% above floor price and is the 11th highest Chromie Squiggle sell on OpenSea to date.

The NFT features the rare "HyperRainbow" trait, a trait that only 126 NFTs in the collection has. The floor price for the HyperRainbow trait now currently sits at 185 ETH on OpenSea.

Crawley Town FC, which already has one of Snowfro’s "Chromie Squiggle" on the shirt in its kit, will be wearing a logo for the XCAD Network on its left sleeve during the Carabao Cup match, which is set for Aug. 23 at 2:45 p.m. ET against Fulham of the Premier League.

“At WAGMI United, we’ve said from the beginning that we want Crawley Town to be ‘the internet’s team.’ From building a digital community of passionate fans cheering the club on from across the globe to having our players step on the pitch with Snowfro’s iconic Chromie Squiggle on their shirts, we’re bringing the power of Web3 to football with every single match,” said Preston Johnson, co-founder of WAGMI United and co-chairman of Crawley Town Football Club. 

XCAD Network has partnered with YouTubers such as Enus Batur and Morgz in creating a fan tokenization platform for the popular streamers.

“I’ve been following WAGMI United's journey since they acquired Crawley. It's great to see a company trying to bring cryptocurrency mainstream,” said Oliver Bell, XCAD Network CEO. “We are glad to be partnered with the world's first Web3 club and think there are a lot of exciting opportunities we can work together on.”

The floor price of the WAGMI United NFT is 0.125 ETH. 

Infinite Objects announced it has collaborated with Art Blocks for an "Authenticated Squiggle NFT Print" according to a recent tweet.

Holders of a Chromie Squiggle by Snow will be able to purchase the print for $299.

Users must connect to the website via Metamask to authenticate their ownership before they are able to purchase the NFT.

The current floor price for a Chromie Squiggle by Snow is 10.94 ETH according to the Lucky Trader Project Rankings.