First time, feeling nervous

Doodles going mainstream, fire sales, and the battle of the ENS ⚔️

Author

Lili (QueenBao)
July 04, 2022

GM Baos.

Today we cover:

  • Doodles2: mass-market NFT with wearables 👀

  • Fire sales, liquidation & crypto's new lord and saviour 🙏

  • Brands fight for their ENS ⚔️

Doodles buckets 10 mil for their Genesis Boxes 🪣

Everyones been talking about Doodles lately …

And that’s not just because they hired Pharell as their Creative Director 😏

LATEST LAUNCH: Genesis Boxes for their Doodles2 collection.

If you were lucky enough to snag one of the 4,000 Boxes at NFT NYC, we're jealous AF. These bad boys are a hot commodity, as they'll be the wearables we can equip on Doodles2.

It's a step closer to Doodles' plan to go mainstream, and with Pharrell as creative director, becoming a media & entertainment brand for the masses.

Now back to the Bucket Auction.

This is the first time we've seen a truly community-driven approach to price discovery for a mint. Do 30 out of 4,600 wallets own 15% of the Genesis Boxes? Yes. But that’s surely better than losing $150mil to gas fees… right?

You bet we'll see more of this auction style to determine mint price in future projects.

Keane's take (FFC's resident Doodle owner):

SBF to the rescue

FTX threw BlockFi a lifeline deal.

  • A USD 400m revolving credit facility which is subordinate to all client funds, and

  • An option to acquire BlockFi at a variable price of up to USD 240m based on performance triggers.

In its last private round, BlockFi was worth a whopping $4.3 billion.

And now, well...

BlockFi agreed to the deal due to crypto volatility and the failure of Three Arrows Capital (3AC) to top up its loan collateral.

3AC they have now been ordered into liquidation. They were also found to have breached their AUM in 2020 & 2021, providing false info to the Monetary Authority of Singapore.

3AC's founder is now selling his mansion in Singapore.

Chipotle is clawing for their ENS

Chipotle recently put in a 14 ETH offer for their ENS on OpenSea.

There's something quite beautiful about a $36 billion company bidding on NFTs. It's certainly hard to imagine an employee sitting at their desk with a burrito wondering why this sucker won't accept their 14 ETH bid.

At least they're getting paid though.

We're feeling a bit better. Neither of us can land our ENS' & our bids never get accepted.

Team Buys

Quirinus on why he bought a Clonex

Lili on why she bought a Genesis Box

Cool Stats

We're still so early, seriously 😱

Funny Stuff