Ethereum OG-level NFT project spends $1 million to migrate to Bitcoin Ordinals ecosystem?

Did Nouns DAO "fork"?

Buy NFT to raise pigs in real life?

Justin Bieber releases songs using NFT and also receives royalties?

BlockBeats takes you through a review of last week's NFT news!

Ethereum OG-level NFT project spends $1 million to migrate to Bitcoin Ordinals ecosystem?

The Ethereum NFT project OnChainMonkey officially passed a proposal on September 6th to migrate its series to the Bitcoin Ordinals ecosystem.

OnChainMonkey was launched in September 2021 and is known as "the first fully on-chain generated 10K PFP project". Simply put, OnChainMonkey's images are rendered through code within a smart contract, so they were able to deploy all content to the chain with just one transaction costing 0.798 ETH.

OnChainMonkey

This migration proposal was put forward by Metagood, the parent company of OnChainMonkey. Prior to proposing this proposal, Metagood had successfully issued a 3D animation NFT series called OCM Dimensions on Bitcoin and open-sourced the code used to create the project. Additionally, they collaborated with Asprey Studio to launch the Asprey Bugatti Egg project.

You may be wondering why the migration cost is as high as $1 million. This is mainly because OnChainMonkey needs to migrate all to the "Block 9, 9th Block" ancient聪, and it must correspond to the number of each NFT in the series with the ancient聪 ending in 00001-10000...

Look at the current "Block 9" ancient Cong's order on Magicsat, and you will know how expensive it is, not to mention the limited condition of the tail number...

In addition, OnChainMonkey is the generation of code implementation art on Ethereum. To use "recursion", "parent-child inscription" and other new technologies to finally complete the creation series on Bitcoin, the technical implementation design and landing will incur additional costs.

According to data from cryptoslam.io, the highest single-day trading volume of Bitcoin NFT last week was only about $530,000. The migration cost of OnChainMonkey is almost twice the highest single-day trading volume of Bitcoin NFT last week... It can be said that OnChainMonkey's determination and confidence in migrating to Bitcoin are amazing from the team to the community. In addition, just looking at OnChainMonkey's graphics, you may think, "What is this elementary school art?" But they believe that "code is art" and their ultimate pursuit of the narrative of "Satoshi Nakamoto" also reflects their strategy of building a flagship Bitcoin art.

Therefore, in the future, will the leading Bitcoin NFT projects come from those that focus on the artistic value of image content itself, or will they emerge from projects like OnChainMonkey that focus more on technological innovation and Bitcoin's unique "smart" narrative and "hardcore story art"? This is very interesting, and we can only wait and see.

Nouns DAO "Forked"?

Yes, Nouns DAO has "forked".

Last month, Nouns DAO approved an upgrade called v3, which allows Nouns DAO to fork and provides a way for investors who are disappointed with the development of Nouns DAO to exit called "rage quit".

As of September 9th, more than 20% of the supply of Nouns has supported the fork, and the Nouns DAO has entered the "forking period". By September 16th, all Nouns NFT holders can choose to leave the original Nouns DAO and join the forked DAO. The forked DAO will split a corresponding share of ETH from the original Nouns DAO's treasury. Currently, the forked DAO has 303 Nouns NFTs joined and has split 10,758.32 ETH from the original Nouns DAO's treasury. Each member of the forked DAO can execute an "angry exit" and return their Nouns NFT to receive approximately 35.5 ETH, which is similar to the average price of Nouns NFT auctions in the past week.

This may be the first DAO fork in history? Some Nouns holders have expressed that they would rather withdraw their ETH than continue to face unlimited value dilution (Nouns auctions have been ongoing), and the "angry exit" mechanism for forking the DAO provides a fair exit mechanism for these "minority" holders. Thinking of Azuki's recent acquisition of 20,000 ETH and the deeply hurt supporters who were angry but helpless, we have to give a thumbs up to Nouns DAO and hope that the fundraising managed through DAO governance can protect more NFT enthusiasts from harm...

Through buying NFTs, can you raise pigs in real life?

The Croatian companies Agroporc, Beyondi, and Blok Be have developed a platform called GoAgro, through which Croatian citizens can invest in the future of Croatian food production by purchasing NFTs.

GoAgro's first project is "PIG NFT". By spending 250 euros to buy a "PIG NFT", it is equivalent to buying 100 kilograms of pork. It takes 900 days to turn a "PIG NFT" into a real pig, during which the "quality" of the "PIG NFT" increases by 3% per year. After 900 days, depending on the actual breeding situation, the cute pig may or may not be able to be exchanged for 107.5 kilograms of actual pork. Of course, after the time is up, you can also choose not to exchange it for pork. For example, if you are an NFT speculator, you can use NFT to speculate on pork in the secondary market. Or if you are a survival expert, you can hold onto the 100+ kilograms of pork and wait until the end of the world to exchange it...

Now is the first phase of the "PIG NFT" sale, with a goal of selling 20,000 "PIG NFTs". In the next two years, GoAgro also plans to sell 110,000 "PIG NFTs" each year, to expand the pig farming business. When the farm officially starts pig farming, each farm will have a network camera so that NFT holders can inspect their beloved pigs at any time to see if they are growing up healthy.

Is this another innovation of NFT + RWA? Raising pigs is a bit too serious. I'm thinking about whether NFT can be combined with raising pets in the future. Adopting a cute kitten, and then opening a live broadcast, holding NFT to give rewards for the live broadcast... Or maybe claiming a fruit tree, so that in the future, in addition to their own fruits, the shared fruit trees of Xiaohuangche will also be available...

By the way, it's worth mentioning that the pig farming NFT is using Polygon, which is favored by Web2 companies from various loyalty programs of giants to pig farming.

Justin Bieber releases songs using NFT and also splits royalties?

On September 7th, Justin Bieber turned his popular song "Company", which was released in 2015 and has been played over 500 million times, into an NFT.

"Company" NFT is a collaboration between blockchain music platform anotherblock and "Company"'s co-producer Andreas Schuller. The project was released on September 7th and sold 2,000 copies to fans and investors at a price of 0.017 ETH, all of which were sold out within 2 hours.

「Company」NFT

Andreas Schuller will retain the rights to this song, while offering fans who own the NFT a 1% royalty share of the song's streaming revenue. This means that for every "Company" NFT held, the owner will receive 0.0005% of the song's streaming revenue annually. The return on investment for buying this NFT and the excitement among NFT players was calculated by @bigggmich, CEO of anotherblock.

Summarize his points, according to the current situation of the streaming media market (without considering the potential growth of the streaming media market in the future), through "Company" NFT sharing royalties, the annual income of Mint price is 5.1% - 5.6%, which means it takes 17-18 years to recover the cost. But interestingly, NFT holders will continue to receive royalty sharing until the copyright protection of the song ends, which is about 70 years after the artist's death (which may vary by region). This is why using Web3 to achieve true ownership and make it autonomous and trustless.

The question is, how long will Justin Bieber's "Company" remain popular? It's time to discuss who is the most likely next Mozart or Beethoven in contemporary times... However, for Justin Bieber fans, spending nearly $30 and sharing royalties can be quite satisfying.

Listen to "Company" on repeat for 24 hours on Spotify...

Weekly Project Outlook

The projects worth paying attention to this week are:

Sugartown. Zynga's first Web3 game, 10,000 PFPs named "Oras" were minted at 10pm Beijing time on September 13th, and the public minting period was from 4am to 5am Beijing time on September 14th. Zynga's most famous game is "FarmVille", which is the ancestor of "Happy Farm" / "QQ Farm". The company was acquired by Take-Two, the owner of games such as "GTA" and "NBA 2K", for $12.7 billion last year. With such a big name, it's hard to have any NFTs left for the public minting phase, but it's still worth keeping an eye on in case you get lucky...

G-SHOCK CREATOR PASS. Casio's official release, issued on Polygon (yes, Polygon again), with a total of 15,000 cards, Free Mint. G-SHOCK CREATOR PASS allows holders to join the community of the future project "VIRTUAL G-SHOCK (VG)", and will also receive benefits such as early event notifications and participation in event planning. Although G-SHOCK CREATOR PASS is non-transferable and there is currently very little information available about the future project "VIRTUAL G-SHOCK (VG)", Free Mint is also gas-free, so G-SHOCK fans should not miss out.

Casting will open at 11:00 a.m. Beijing time on September 23rd and requires pre-registration of a CASIO ID.

Conclusion

This is the 4th issue of "Rhythm NFT News". This time, we have added "Weekly Project Preview", and we will try our best to select some projects worth paying attention to and share them with you in the future. We hope it can be helpful to you in front of the screen.

Let's look forward to what fresh NFT news will happen in the new week together!

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