Latest HV-MTL News

HV-MTL Evo 1's Have Revealed
Julian Son

The official BAYC account tweeted that HV-MTLs have made it through the rift and that the Evo 1's have revealed.

❗ Why It Matters

After teasing yesterday that the HV-MTL collection would reveal sometime this week, the moment has arrived today.

The Details

  • There are eight types of HVs, and over 1,050 traits across the collection.
  • The trait system for the HV-MTL collection was developed based on a steep rarity scale within each HV-MTL class.
  • Your HV-MTL’s token ID is also your HV-MTL’s rarity ranking within the rarity ranking model.

🔜 What’s Next?

Evo-2 is now scheduled for June, as can be seen at mdvmm.xyz.

🧠 Learn More

 

HV-MTL Evo 1's Have Revealed
HV-MTL Will Reveal This Week
Logan Hitchcock

Yuga Labs' HV-MTL collection will reveal sometime this week

The Deets

  • Evo-1 reveal previously scheduled for April, delayed until May 
  • Collection boasts 8 types, 1050 traits

❗️Why It Matters

Instead of rushing out a product with errors, Yuga took the time to (hopefully) get the HV-MTL reveal right. The collection will start its Evo-1 journey reveal later this week, restarting the timeline for the events to follow, like Evo-2, which is now scheduled for June. 

🎤 Community Quotes


Oh shittttt!! It's happppppening!!!! Let's meet our mechs! 🙌🏽🙌🏽🙌🏽Matty

📊 By the Numbers

Though down more than 30 percent in the last month, the collection jumped on the news to a floor price of 1.25 ETH at the time of writing. 

🧠 Learn More

 

HV-MTL Will Reveal This Week
BAYC No. 4980 Sells for 530 ETH
Lennster

Bored Ape Yacht Club No. 4980 sold for 530 ETH or approximately $970,000 earlier today

The Deets

  • BAYC No. 4980 NFT was sold at a 16% premium over its DeepNFTValue of Ξ456.79 ($837.7k).
  • The sale realized a profit of 524 ETH for the seller.
  • The Ape was purchased by "PimpCapital."
  • The sale took place on X2Y2, and no royalties or fees were paid. 

The Details

BAYC No. 4980 is one of 46 apes with a "Solid Gold Fur" trait which makes it one of the rarest in the collection. The seller held the NFT for about two years from its last purchase. 

The sale marks the largest since BAYC No. 5230, which sold on April 20 for 300 ETH. 

📊 By the Numbers

Bored Ape Yacht Club currently holds a floor price of 47.20 ETH, down about 12 percent in the last 30 days. The collection has experienced a small boost since being added to Blur's Blend platform earlier today.

🧠 Learn More

BAYC No. 4980 Sells for 530 ETH
Sneak Peek at Various HV-MTL Mech Traits
Julian Son

BAYC tweeted a brief teaser video that shows 80+ possible traits across the different HV-MTL mech types.

 

❗ Why It Matters

While the Evo 1 reveal was delayed until next month, it'll be worth the wait based on a glimpse at the montage of various traits that BAYC shared today. Garga previously noted there were 1,050 traits, so this preview included less than 10% of the total trait pool.

🎤 Founder Feedback


Huge amount of traits have gone into the HV MTL collection. Looking forward to seeing what comes through the rift.Garga

Sneak Peek at Various HV-MTL Mech Traits
TwelveFold Collectors Receive a Positive Update
Julian Son

Yuga Labs Chief Content Officer Michael Figge provided a TwelveFold update in a tweet thread 🧵 today.

The Details

  • Initially, TwelveFold was presented in a format that made sense for satoshi inscriptions.
  • Originals were 1,000 x 1,000 pixels.
  • But each work in the collection has since been updated to a 12,000 x 12,000 pixel format and 144K resolution.
  • This version will be made accessible to TwelveFold collectors.
  • Collectors will receive a framed physical print of their piece that will be delivered for free.

❗ Why It Matters

Even with everything else going on within the Yuga ecosystem, such as the ongoing development of the Otherside, the delayed HV-MTL reveal process, and the upcoming Legends of the Mara adventure, the team hasn't forgotten about the owners of TwelveFold, their first work that was purely art.

While TwelveFolds don't include a membership component or utility to be used for further activations, collectors will receive a welcome update in the form of a much higher resolution version of their piece, as well as a framed physical print that will be delivered free of charge.

🔜 What’s Next?

Yuga has prints in production for TwelveFold collectors and are dialing in framing prototypes now. Then...a puzzle?

.

 

🕳️ Go Deeper

 

 

TwelveFold Collectors Receive a Positive Update
Yuga Labs Taps ex-Epic Games VP as New CTO
Bill Monighetti

Mike Seavers, formerly an executive VP of development at Epic Game, will be joining Yuga Labs as its new CTO on May 22, according to a press release shared this morning.

❗ Why It Matters

Seavers brings a wealth of gaming experience at one of the top gaming studios to the Yuga Labs team as it ramps up its gaming initiatives related to The Otherside. This is a clear area of focus for Yuga Labs, who recently named Daniel Alegre, an ex-Blizzard executive, as its new CEO. Gaming will continue to be a foundational pillar of the Yuga Labs ecosystem, and the Yuga is doubling down on its team.

🔙 The Deets

  • Seavers will succeed Yuga Labs co-founder Kerem Atalay in the CTO role, though Atalay will "remain with the company as a close strategic advisor," according to the release.
  • At Epic Games, Seavers oversaw Epic Games' work on Unreal Engine, Fortnite and the Epic Games Store. He worked at Riot Games prior to joining Epic, where he worked on League of Legends, Valorant and Legends of Runeterra.

🎤 Founder Feedback

"Mike has a proven track record of taking organizations to the next level, and he shares our vision for how important digital identity and community will be for the future of the internet. We have an opportunity to be the web3 platform at the forefront of community and social engagement, through media and entertainment, and Mike's expertise will help us scale to achieve that." -Daniel Alegre, Yuga Labs CEO

🕳️ Go Deeper

 

 

Yuga Labs Taps ex-Epic Games VP as New CTO
HV-MTL Reveal Delayed Until May
Julian Son

The HVs won't be making their way across the rift until May, according to a tweet from @BoredApeYC yesterday.

The Details

  • The official BAYC account appeared to note the delay by cryptically saying, "One turn right, one turn up, three down, two up… Fuck!!! Locked itself again. We’ll need more time to figure this out."
  • The mdvmm.xyz site confirms the minor delay, with the updated infographic for the Evo 1 Reveal now showing May rather than April.
  • The Journey to Evo 2 section also used to say "Begins May," but now says "Begins June" instead.
  • BAYC co-founder Garga added some color, calling the HV-MTL a "monster of a collection" with "8 types, 1050 traits..."

❗ Why It Matters

Besides creating another week or two of pent-up anticipation, this seems like mostly a non-issue. Especially with May being less than a week away anyway.

Obviously, the Evo 2 component of the journey also got shifted out a month later, but with Yuga having so many projects to juggle, it just makes sense for them to take the time to make sure the execution is up to their standards. Rather than have some sort of issue like the companion trait error.

📊 By the Numbers

Not surprisingly, the floor has dipped about 10% since the announcement (-8.5% on OS and -12% on Blur, where the floor is a bit lower at 1.248 ETH). But not a significant move given overall market conditions, and interest will surely return once upcoming timelines are made more concrete.

🎤 Founder Feedback

 

🎤 Community Quotes


Look what disappeared from 'end of April' SMHdoitbigchicago

HV-MTL Reveal Delayed Until May
BAYC Releases First Look at HV Mech Types
Julian Son

The HV mech types have been revealed at hv-mtl.com, per a tweet from the official BAYC account.

❗ Why It Matters

The journey to Yuga mechs started with Dookey Dash and Sewer Passes, and finally the long-awaited glimpse at the mech types is here. There are eight different Power Sources (seven types for all intents and purposes, since the #1 Legendary is one of the eight types), and now we know what they will look like in mech form.

The Deets:

  • There is a HV-MTL forge where you can build and customize a workshop that prepares your HVs (pronounced "Heavy") for their evolution.
  • "Your HV is a unique, dynamic NFT that evolves based on your decisions, so don't fuck this up. There are eight different HV-Types and countless different trait combinations. Each has its own skills, personality, and roles, but they're all designed to transform."

🎬 Take Action

  • Head over to hv-mtl.com for more on your Power Sources.
  • Use mdvmm.xyz to see the updated timeline.

🔜 What’s Next?

The Evo 1 reveal in April, and the journey to Evo 2 begins in May.

🎤 Founder Feedback

🧠 Learn More

 

BAYC Releases First Look at HV Mech Types
NFT Roundtable | Yuga's NFT World
Staff Writer

Welcome to the Weekly NFT Roundtable, where members of the Lucky Trader team weigh in on some of the most pressing questions, news, and events in the web3 space.

The commentary below is purely opinion —not financial advice!

Recommended Reading:

Yuga's World 🌎

Question 1: 

Fresh off this weekend’s Otherside 2nd Trip, Yuga made a surprise announcement regarding the Legends of Mara — the next experience in the ecosystem. The update will feature a 2D standalone game fueled by ApeCoin, a new airdrop of vessels which impact a new collection (mara), and additional information about the mysterious Koda. 

Thoughts on the 2nd Trip, and the new game and collection? Are you feeling more bullish or bearish on Otherdeeds? 

Logie: As a non-gamer, all the technical bullishness sort of waves right over me. I have no context, nor care for details about concurrent users, shards, instances, or beyond. Nevertheless, while the math doesn’t make a lot of sense, I’m “quietly bullish on the Otherside after reading some of this weekend’s recaps. What I was most impressed with from the commentary I consumed was the genuine interest that many had with the unfolding storytelling.

While I’m skeptical of web3 lore and fear many projects will introduce far too much complexity, Yuga seems to have compartmentalized the strings of its lore quite well. Those actively playing in the Otherside don’t need to be thinking about Dookey Dash, and Dookey Dash doesn’t need to connect to Legends of the Mara, and so on. Other projects like RTFKT have seemingly connected Clones to MNLTH, to this thing, and that thing, and another thing, introducing so many layers of complexity that it becomes too daunting to follow along. The mini-game approach seems like a huge slam dunk and should remove some of the obvious execution risk that exists for Yuga. With that being said, I’m still probz not going into the Otherside, just not my cup of tea. 

Jason: I mostly agree with Logan here. Legends of Mara looks cool. The character and trait and land variables seem well thought out and interesting enough. I would probably play this game for some type of small reward. But I won’t drop thousands of dollars on the NFTs I’m required to have to gain access. Those who are holding should be excited, but those who are buying in just to play the game… try Xbox?

Ghost: I participated in the 2nd Trip, and had fun (and was fortunate enough to be on the winning team, shout out Galacia!). I enjoyed the simple game mechanics, and it felt like an N64 game in Mario Party — which made me more bullish from an accessibility standpoint for non-gamers. 

I also am bullish on the Legends of Mara announcement — and think the NFT space will absolutely love a 2D strategy game if it’s executed well. I’m still uncertain to where I stand on Otherdeeds long-term — as I’m not sure the 2nd trip gave a ton more insight into how 100,000 of these will be used (though short-term bullish with the airdrop coming). What these announcements did make me bullish on is $APE — I think we’re about to see a ton of different sinks added, which is music to the ears of any token holder. 

Tyler: I’m conflicted on this one. I love that Yuga is launching this game to keep Otherdeed holders interested and engaged during this long build process. The game looks very cool on a first glance, and if it is a low-time commitment strategy game, I might indeed buy in and play.

The bear case for me is the influx of 110,000 NFTs (100k vessels + 10k Kodas) into this bear market. I’m not sure there is liquidity support for this influx, even from the biggest brand in the space. And if these come out and Deeds go down more than the cost of Vessels (a likely outcome) it probably hurts sentiment. 

Ticket Talk 🎟️

Question 2: Ticketmaster, in collaboration with the popular metal band Avenged Sevenfold, introduced NFT-gated ticket sales this month. How big is this — are we seeing a prime example of mass adoption coming to NFTs? How do you see NFT ticketing impacting the event space, and the relationship between artists and fans?

Logie: Avenged who? Just kidding…but seriously. Ticketing has widely been regarded as one of the potential slam dunk use cases for NFTs but outside of VeeCon, I’m not certain anything of note was willing to lean into it. This seems like it’s probably a big deal, but I’ll wait to comment when someone I recognize leans into it. At this point, I don’t expect much of a change in the near future and many platforms are already changing the way artists interact with their fans…without the tickets. 

Jason: I’m turning “Bat Country” up to 11 to spite Logan. This is huge. Ticketmaster controls 70 to 80 percent of all major concert venues in the United States, according to select senators. Live Nation estimates closer to 60 percent, according to New York Times. Either way, it’s HUGE. NFTs as access passes to live events (i.e. tradable tickets) is so obvious. This is the first of many partnerships between Ticketmaster and artists. It will start small as Ticketmaster develops the technology necessary to scale, but soon enough, every single ticket will be an NFT. It makes secondary marketplace sales faster and safer. Artists can collect a resale royalty. And the ticket, after the event is over, serves as a personal collectible or memento. Imagine the resale value on Taylor Swift and Beyoncè ticket NFTs… *rocket ship emoji*

Ghost: Huge news — I feel like tickets have always been referenced as a great use case for NFTs, and seeing a giant like Ticketmaster embrace the technology is absolutely massive. While most normies that hate NFTs probably think of PFPs and dumb cartoon animals, this is an easy real-world example that can help open eyes to the power of the tech. 

It’s also big from an artist perspective — I imagine it’s a win-win for everyone to have a better experience for your most loyal fans, and avoid the dreaded structure we currently see in ticketing (shady/difficult secondary market, bots scooping up all the tickets, etc.). I also love Jason’s point about the resale value of the NFTs, both as a collectible and as a royalty value-add for the artist. Hard not to be extremely bullish.

Tyler: This is the biggest NFT news of the week, month and maybe the year. Real use cases for NFTs are starting to be unlocked at scale, which will actually benefit consumers. I’m exposing myself here, but some of the artists I’m really looking forward to seeing live soon are Kygo and Lady Gaga, and if I can get priority access to tickets via an NFT I am slamming the buy button.

I wrote about this topic in depth in my Wednesday newsletter, so I’m not going to recreate that all here, but token-gated ticket sales solve some major problems in the music industry and broader live event space and I don’t see a single valid bear take for this one.

y00ts on the Move 🌉

Question 3: The hotly-anticipated bridging of y00ts to Polygon began late Monday night, with Phantom, Magic Eden, and Dust Labs partnering to make the move a seamless one. Additionally, ME is covering gas fees for the transfer, and is gifting users $5 USDC for each y00t listed on their marketplace — with fee free trading for 30 days. How are we feeling about y00ts on Polygon? Is what chain an NFT is located on becoming less important?

Jason: I don’t really care to comment on y00ts. I’m not a huge fan. It doesn’t matter. That they migrated to Polygon specifically doesn’t even matter. What’s important here is that popular NFT projects are migrating to cheaper, faster blockchains (Layer 1 or Layer 2). Chain agnosticism is coming. And the chains that offer the cheapest, most liquid trading opportunities with great NFT infrastructures will see the most movement. Right now, that’s Polygon. Gone are the days of paying $1,000 in gas fees to mint a project or $200 to buy on secondary (yeah, you remember 2021, don’t lie).

Logie: I totally get moving DeGods to ETH, where volume reigns supreme for NFT trading. But I have no clue why you’d move y00ts to Polygon, which is established narratively (and literally) as a “sidekick” to the real NFT collections. While the seamless nature of the bridge seems to have pushed beyond a major execution risk, I still think that Frank and team firmly cemented y00ts as a “companion” instead of what could have been a leading PFP collection. Of course, it’s impossible to quantify my rather anecdotal response - so we’ll let the floor price do the talking a few months from now. 

Ghost: I think that chains are going to matter less and less going forward — what matters is how the project delivers and rewards holders. For y00ts, they have already built up a loyal following (over 85% migration on day one speaks volumes), so I don’t suddenly think the project is just dead after moving to Polygon. It may also surprise many to see that the floor is 1.7 ETH — which was not as apparent when things were denominated in SOL. I am bullish on Frank, and the baked-in partnership opportunities that come with Polygon — what matters now is how the project delivers going forward, not what chain it’s on. 

Tyler: I’m bearish on y00ts on Polygon and here’s why - lack of volume. Tuesday bridge day was a marquee day in the y00ts ecosystem and they were only 12th in overall project volume across chains, and they weren’t even 1st on Polygon! They were out-traded by 60% by a new degen mint called BROZO. Polygon was a winner here, seeing its daily volume spike 130% on the day but I’m bearish of it being sustained. 

Logan had a hot take on our spaces this morning, calling y00ts effectively the “double little brother”, little brother to DeGods and on Polygon which is the little brother to ETH for NFTs. Not great for y00ts price action.

As for chain mattering, it matters as much as the buying and utility process is conducted in a single crypto (i.e. ETH). If I can buy, stake and unlock total y00ts utility with ETH and without MATIC, then I’m cool. But if I need to hold new cryptos to trade and execute, that’s a big barrier for me. So chain absolutely still matters and i don’t think we’re close to it not mattering (tho eventually I do believe it will not).

Nakamigos Doing Numbers 📈

Question 4: The big winner over the last week has been Nakamigos, a 20k pixel art collection that was minted for free to holders of End of Sartoshi passes. The rise has been a polarizing one — with many calling it a pump and dump and others vibing and having fun with a new PFP collection (especially the MFers community). Do these have staying power? Is the FUD on Twitter valid, or just cope?

Jason: Can I be honest here? Is this a safe space? I don’t know what Nakamigos are. I’m glad the End of Sartoshi holders are getting something for providing the amount of exit liquidity they did.

Logie: They do not have staying power, but the FUD is cope. Does this mean I’m coping? I don’t know. “Good vibes” projects can have a moment in the sun, but the metas are so fast in this space that it won’t matter for long. I bet you don’t even remember Checks. 

Nevertheless, the fact that MFers community in particular is so happy to shift away from MFers for this feels weird. What about MFers? I guess I’ll echo Jason, good for End of Sartoshi holders. 

Ghost: Love the Nakamigos. It’s sad that people can’t just vibe with a new project these days, everything not anointed as a top project by the broader community is either a pump-and-dump or rug. I think they make awesome PFPs, and have a built-in rabid audience of MFers that helped cement the good vibes early on. The traits are unique but familiar at the same time, and I think people are itching for a new PFP project to latch onto with most of the older collections bleeding out. 

We need more fun in the space, and less BS — and the Nakamigos feel like a breath of fresh air right now. Are they probably going to zero over a long time horizon — sure. But we’re all dying slowly! Just have fun and enjoy the ride. 

Tyler: I personally fudded Nakas and have done a 180 and am a supporter (and bought a bag). Here’s why I fudded - the names pumping Nakas over the weekend included some very questionable personalities. That’s why they caught so much FUD.

But they have moved past that, some legit collectors and whales have bought into Nakamigos in size now, and they continue to be the main topic on NFT Twitter (now in a better light).

Quick reminder to anyone looking to buy in here that they are up 40x from mint and the most likely outcome is a trend to 0. But for consenting adults who know the risks - man this is a fun set to buy and collect. The traits are awesome, and the fun buying experience is why I’m personally bullish in the short term.

Meet the Roundtable:

Ghost: Ghost is an NFT analyst at Lucky Trader. He has been in crypto since 2017, and entered the NFT space via NBA Top Shot in January of 2021 before minting Bored Apes and degenning into the broader market. 

Tyler: 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.

Logie: Logan is a content lead at Lucky Trader and is best known for selling every good NFT far too early. He also maintains an irrational exuberance for clay-based NFTs. 

Jason: Jason is an NFT lead at Lucky Trader. He has been involved in the NFT space since CryptoKitties in late 2017, and, like most, he lost a lot of money on Top Shot in early 2021. But nevertheless, he persists (with his Series 1 Legendary From The Top LeBron James Block).

NFT Roundtable | Yuga's NFT World

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