Arbitrum Odyssey Beings, Top NFT Collections, Intro to My Pet Hooligan

JUN 23, 2022 • 4 Min Read

Joo Kian + 3 others Jeremy ParrisTeng YanAdrian Von Catangal Joo Kian
Disclosure: Delphi Ventures has invested in Offchain Labs (Arbitrum), Altered State Machine (ASM), M

Chart of The Day: Arbitrum Odyssey Begins!

  • Note: The chart above has been edited as of June 26th, 2022. Datapoints indicated in the texts below are as of June 23rd, 2022.
  • Arbitrum Odyssey has started. It is an 8-week-long event that rewards Arbitrum protocol users with NFTs.
  • The current week is the onboarding week, where users must use a bridge/fiat-on-ramp to qualify for this week’s NFT. Furthermore, an extra NFT will be rewarded for using the protocol that bridges the most ETH onto Arbitrum. This event ends on June 27th, 2022, at 12:59 PM EST.
  • Hop Protocol takes a strong lead with nearly 4,000 ETH bridged, with Celer and Across following behind with 1,100 ETH and 1,050 ETH bridged, respectively. At its current ranking, bridging with Hop Protocol will likely make users eligible for the extra NFT.
  • Be sure to keep up to date on their challenges, as users who accumulate 13/16 NFTs over the 8 weeks will be eligible for another NFT.
  • Arbitrum has not specifically indicated how or if there will be any functionality for these NFTs, but there is speculation that they could be used for an Arbitrum token airdrop. 
  • For more on L2s, Delphi members can read our Delphi Pro report on ZK Rollups here!

‘Live’ From NFT NYC & CryptoPunks Catch Wind

[Excerpt from a Delphi Insights Report]

  • Once again, the ‘blue chip’ NFT collections are dominating NFT trading volumes as the free mint narrative peters out. This week, the most significant move among the ‘blue chip’ NFTs was in CryptoPunks, which soared over 40% from a floor price of 48E (17 Jun) to 68E (20 Jun). This comes on the news that Noah (previously at Christie’s) will be joining Yuga Labs as the Brand Lead for CryptoPunks, to ensure that there’ll be “no Punks on lunchboxes”.
  • Interestingly, Punks were already flying off the shelves (>100 sold in 24 hours), and prices started moving up even before the announcement on 19 Jun, which has led to speculation of insider trading. It seems too much of a coincidence to believe it was just due to normal price volatility, although there’s no way to prove this conclusively. CryptoPunks have unique provenance and history, and I believe they will continue to be valuable in the years to come.
  • On the other hand: Steve Aoki, famously known as a top signal in NFTs, just bought a Punk this week.

  • A good piece of news — OpenSea has migrated to Seaport, its new web3 marketplace protocol. This is a long-awaited major improvement for OS and improves its competitiveness vs marketplaces like LooksRare, which has been adding features rapidly. Some benefits include:
    • Save an estimated 35% in gas fees when selling or transferring NFTs.
    • Make collection offers on all items in a collection, or trait offers for specific traits. This could improve the liquidity for NFTs.
    • Soon-to-come: Bulk listings & purchases, real-time creator fee payouts.
  • Other breaking news: Doodles announced that Pharrell Williams has joined as a Board member and Chief Brand Officer.
  • For more information, Delphi members can see the full NFT Insights here.

My Pet Hooligan: Rebelling Against Zuck Corp with Disney-Style Characters

[Excerpt from a Delphi Podcast]

Notable Tweets

Keanu Reeves and Alexandra Grant Enter the Futureverse

LooksRare Launches Conditional Listing

dYdX V4 to Be Built on Cosmos-SDK


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Joo Kian + 3 others Jeremy ParrisTeng YanAdrian Von Catangal Joo Kian