A Yuga Day | IkarisDaily #11

BAYC Backer Yuga Labs Buys CryptoPunks and Meebits — Coindesk

Wednesday, 23 March 2022

Had a great day at work today! Started off kinda rocky, but it only went up from there. Received my GPA from the previous sem around mid-day which really boosted my mood. Got to put in some good time on Twitter during work too (especially got to think about the recent Yuga Labs funding round). Managed to do a lot of work-related stuff as well, all of which was fun and interesting (and tough). Good day overall.

On the NFT Front, I had a look at the Investor Deck by YugaLabs for their recent funding round. Gave me a good idea of their plans and outlook. I posted my thoughts in a thread on Twitter if you want to check it out.

I wasn’t able to snap out of the Yuga mindset, so I read up about BAYC’s origin story in “Let’s make a NFT”. It was really interesting to see how (arguably) the most successful NFT collection started.

I think the founders were really just experimenting with NFTs and wanted to try out the ‘authenticity feature’ that NFTs bring. Because the owner of the NFT is verifiable, it becomes like an access pass for the holder. I don’t know if it was the first experiment in this area, but I’d like to think it was the most successful.

I would’ve liked to read more about how they distributed the project at the start. You know, their marketing efforts and how they generated interest. I’m sure I’ll get to learn about it one day.

Another thing caught my attention. A new CEO was hired for Yuga Labs. I find that interesting because I would have assumed that the original founders would have wanted to be in that role. Surely, they have an important role in the company, but I find it interesting that they were visionary enough to get an outsider for the role. It takes a whole lot of determination to be able to trust your project in the hands of someone else, but they did it. Of course, I don’t know the back story behind this, but I do find it interesting.

After reading that piece, I was searching around for a while for something else to read when I remembered about Zima Red. Checked them out and read another article, “Everything you need to know about CC0

It was a really basic but greatly informational piece. It started off by giving a bit of context of IP in the crypto space. The Crypto Punks situation is really hard to believe for me. Isolated a big portion of their community for potential revenue via their IP, while the community is the reason their IP is worth anything… Anyways.

It also talked about Yuga Labs (AGAIN!) and Apecoin. The Otherside is a cool project, especially because it incorporates the various different NFT collections. This gives it massive cultural value and I’m really interested to see how Yuga brings it all together. With Apecoin set to power the Otherside, I also see some big potential in its value rising. But am I going to buy it right now? Nope. I’ll take part in the Otherside and buy $APE to use in it. However, I don’t plan on getting into it as an investment for now — Not immersed in the Ape DAO or any Yuga Labs projects to warrant an investment.

All in all, today was a good day. Was a shame I didn’t remember about Zima Red earlier on in the day. Nonetheless, there’s always tomorrow to expand your NFT knowledge. I’ll be reading up more as well as potentially listening to podcasts tomorrow. See you then!

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Ikaris

Ikaris

⚡️ just trying to learn more about NFTs, web3 & the metaverse