Latest Lascaux: The Future News
Open edition artist Lascaux took to Twitter this morning to offer a fresh take on the "royalties issue" that has been a hot topic in the NFT space during the recent marketplace wars between Blur and OpenSea.
❗Why It Matters
Many creators rely on revenue earned from royalties to help support their businesses, and after last week's decision by OpenSea to lower their fees to zero, creators are looking for solutions. Some have promised to build their own native marketplaces with royalty enforcement, but Lascaux offers another, creative approach centered around auction bidding.
🔍 Need to Know
Lascaux's proposed plan involved putting 1/1 NFTs up for auction in lots that will include a real, framed original print. Alongside the 1/1 piece will be a separate bidder's edition that is gifted to the top X number (in Lascaux's tweet, he says 989) of bidders who placed "fairly priced" bids during the auction. In theory, this would allow the artist to command a higher sale price on the primary market to make up for a lack of royalties earned through secondary sales.
🎤 Community Feedback
Lascaux's free open edition, Veruca Salt, minted out all 1 million editions within two days. Well, 1,000,069 to be exact...
🧐 Wait, What?
Two days ago, on Jan. 29, NFT artist Lascaux tweeted a Manifold link for Veruca Salt, the final piece of "The Nakamotos" Lascaux has caused quite a stir over the last couple of months in growing out their art ecosystem, and this release was no different.
🖼️ The Big Picture
In a week in which the "open edition" art meta has truly run rampant, this release on Manifold still managed to stand out. The art, based on 6529's iconic Nakamoto Freedom (which has a floor price of 27 ETH), resonated with enough people that even a 1,000,069 edition piece was minted to completion.
📊 By the Numbers
Lascaux ultimately reduced the mint limit to 20, although not before the majority were minted it seems (it appears that there are ~5,600 holders, implying that the average owner of Veruca Salt/Free to Transact owns ~179 copies).
Mysterious as ever, Lascaux did at least clarify that a full set does not require "Bullion", which at 0.255 ETH is ten times the next most expensive NFT in the Nakamotos set.
Full Nakamoto set holders will "receive a free art during NFT NYC," according to Lascaux's tweet.
🎤 Founder Feedback
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Cryptic NFT artist and riddler Lascaux has promoted three new open editions set to mint at 4:00 p.m. ET, according to multiple tweets from the artist.
❗Why It Matters
Lascaux took the NFT ecosystem by storm around the Christmas holiday with a variety of interconnected open editions with burn mechanics allowing collectors to redeem increasingly scarce pieces. The latest open editions are expected to play some role in the continuance of the unfolding Lascaux ecosystem.
The Deets
Here's what we know so far:
- Lascaux is dropping three new open editions.
- Drops will start at ~4:00 p.m. ET.
- These are the final drops until April.
- Each will maintain some burn mechanic.
- Price: 0.069 ETH.
🎬 Take Action
Want to participate in the Lascaux ecosystem? You can find the Manifold mint links in the linked Tweet thread, one each for "Charlie, Matilda, and James."
🧮 By the Numbers
While attention may have shifted a bit, at one point in late Dec., Lascaux's editions held a marketcap of $1.9 million. At the time of writing the cheapest Lascaux edition is 0.015 ETH, while the most expensive is listed at 69.69 ETH.
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