🛒 Leveraging IP

Hey there 👋,

In this week’s newsletter I discuss:

• A domain upgrade and a floor downgrade for ENS

• NFT toy collection comes to the world’s biggest retailer

Cheers!

Richard Patey - @richardpatey

NFTS

Pudgy Penguins (who I previously featured) just broke into Walmarts, inside 18 months of ownership by Luca Netz who acquired the collection for $2.5M to shift NFTs away from ponzinomics.

Understandably, his backers are happy:

Luca just dropped a video of how the deal with Walmarts came about and how they were able to execute just in time, it’s super inspiring:

As is its floor price, which is getting back to its all-time high:

This is what you can do if you build an incredible brand, that gets millions of impressions on Instagram, where the holders of the NFTs own the IP, as my favorite Moonbird on X states:

This is the total opposite of what Moonbirds did when they switched their IP away from holders to the community with CC0.

I said back in July that I would wait for the floor price of the secondary collection Lil Pudgys to bottom before jumping in.

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DOMAINS

I’ve not looked at ENS (.eth) domains on ENS Vision for about 6 months now, so I have aox to thank for posting about a domain upgrade of vision.io for $75K:

This is a well priced end user sale, and fits in well with comps for .io on NameBio:

So how well have .eth assets been doing over the last 6 months during the bottoming of this crypto bear market?

The premium collection on ENS Vision is the 999 club (names with 3 digits from 000-999) have gone from a 9.95ETH floor back in March to now a 6.5ETH floor, a 35% fall.

However, the 10K club has always been more interesting to me, where people would buy to get the 4-digit number of their PFP.

For example 1192.eth for this floor Ape:

However, with NFTs losing so much value, I think that most owners don’t care about owning their number any more, and the floor price on the 10K Club has fallen by more, from 0.7ETH 6 months ago to now well under 0.3ETH, a 57% decrease.

Also I feel that .eth is not as cool and popular as it once was. I’m personally way more excited on the Solana blockchain and ecosystem, in terms of payments and NFTs, and where I’m personally investing right now.

As such I recently changed from patey.eth to patey.sol on X.

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Disclaimer: Nothing in this email is financial advice and I am not a professional investment adviser. I send weekly updates on digital asset news and what I'm doing personally - consider it informational and for entertainment purposes only. ‘Sponsored By’ means ads provided by the sponsor. ‘Together With’ means native content that I write.