The Saudis broke the internet

GM Baos. I hope your weekend was great! I didn’t leave the house so yeah, I’m doing fricken fantastic thanks for asking.

Today we cover:

• Say hello to Reddit’s new marketplace

• Breaking down The Saudis

• Elon Musk's big brain move

Reddit says henlo to NFTs 😎

It’s no secret Alexis Ohanian is a NFT maxi, and now this has materialised in Reddit’s latest launch of a collectible avatar marketplace.

They will:

✅ Work with independent artists to produce 1 of 1 avatars

✅ Reddit users can purchase and equip different accessories

✅ Profit share with NFT creators

Right now, these NFTs are only available on r/CollectibleAvatars. They’ll be publicly available in weeks!

But dang, it’s on Polygon. I don’t think anyone in the team has traded a Polygon NFT before 🤔

We made The Saudis even richer 🤑

Okay seriously, WTF. It all happened so fast…

If 2 hours of .wtf garbling goblin sounds wasn’t crazy enough, we have surely reached the peak of this free mint meta.

Let me introduce you to The Saudis.

The Saudis is a free mint project that launched just 2 days ago. Since, they have traded 6.6K ETH with a floor of 0.83.

They have some pretty wild marketing, let’s check it out.

1. Funny tweets. Their brand personality hit all the right notes. It appealed to the “get rich” theme in NFTs, it made us laugh, and they took angled hard into meme-ish content delivery.

2. Viral videos. I can’t stop watching. These videos aren’t high production nor is there high-quality commentary. It is simply Trump saying the Saudis have a whole lot of cash. And it is hilarious.

3. Great pics lol. A huge mass of tweets welcoming new people to the Kingdom. Very noticeable and distinct photos that would makes you double take mid-scroll.

4. A motto. After just 2 minutes of reading, I now understand that my rite of passage into this community is to join the KINGDOM and ensure I am #MAXBIDDING 😎

5. Beeg giveaways. They held a raffle for 217 spots, and winners would be airdropped their NFTs. 55,000 people joined?! ☠️ That’s almost 5% of total wallets that trade NFTs.

We now have a bunch of derivatives popping up. Say hello to “The Turks”, “The Brits”, “TheSaudiWives”, and “2D Saudis” 👋

Despite the success, there’s some controversy with botting. 10% of the NFTs were minted by a single wallet and they profited 194 ETH. One individual also managed to mint 30, when the cap was 2.

Some think the team swept their own NFTs to drive more hype & momentum.

We’ll probably never know for sure – but it’s for you to decide 🤭

Elon pulled out

This is not your typical JPEG story. But we had to cover this big brain play as the King of Doge himself posted a meme, of himself.

Elon Musk announced the removal of his $44-billion dollar offer for Twitter due to insufficient data around fake accounts.

Twitter hit back with the sue.

So what’s the TLDR of the situation?

🤑 Elon Musk & Twitter agreed upon $44-billion deal for Twitter❓Musk requested for data around Twitter’s spam & fake accounts❌ Due to insufficient data supplied, Musk is pulling out📉 Twitter stock fell 5% – They’re not happy Musk might not be acquiring📈 Tesla stock climbs 2.5% – They’re happy Musk might not be acquiring 🚨 Twitter is planning to enforce the merger agreement

There are a few possible scenarios that could happen:

1. Musk is successful in terminating the merger

2. Twitter wins to enforce the merger

3. Twitter leaves with a $1 billion break-up fee

An interesting take: Elon liquidated an extra $8.5 billion of Tesla stock for the Twitter acquisition so people wouldn’t ask questions why. His worst case, he pays $1 billion in fees to Twitter. It’s almost too perfect.

Funny Stuff

Bunni3 Giveaway 🐰

A collection of 4444 CUTE bunnies equipped with unique talents, characteristics, & traits building their paradise on ETH. Onwards with the free-mint meta 💙

I hope you had a fantastic weekend. I did! I finally got to hang with my family & we ate Lan Zhou Beef Noodle.

Adding the photo here specifically to make you jealous. If you made it this far you're insane. Tell me your favourite noodle dish in Discord & we will truly become best friends forever.

–Lili