Sydney Sweeney has the "best tits in crypto", OpenSea Open to acquisition | TS-002
Sydney Sweeney has the "best tits in crypto", OpenSea Open to acquisition | TS-002
Plus: Jupiter gets ready for $JUP airdrop, GameStop 3 year anniversary + more
Another week, another Top Six.
As always, thank you for your attention - if you find value in this, please share the newsletter with a friend, or subscribe if you haven’t.
TOP SIX STORIES IN CRYPTO
Sydney Sweeney has “the best tits in crypto” (and gets tokenized)
GameStop 3 year anniversary (also gets tokenized in $GME)
The Tokenization of Everything
Jupiter launches WEN memecoin to prepare for $JUP airdrop on Jan 31
OpenSea is “open” to acquisition
Pudgy Penguins launch OverpassIP for easy NFT IP licensing
1. Sydney Sweeney has “the best tits in crypto“ (and gets tokenized)
Sydney Sweeney’s Hot Ones interview went viral this past week - specifically the expertly selected thumbnail image (below). I mean, I get it - she’s young, hot, and at the prime of her career. Who doesn’t want a woman to look at them like that?
The memes that spawned were pretty great too:
But remember, this is a crypto newsletter - what’s the crypto angle here? Well, naturally when something starts going viral, expect tokenization: that’s when a developer creates a token associated with the attention an idea/meme is getting. Meaning, you can now trade against the longevity of virality and memes (more on that in story #3 on tokenization).
And hilarious shit happens when money is on the line. The coin, named $MILK (lol) was trading between 2-4 million marketcap for most of day on January 27, until about midnight where it shot straight up from $2M marketcap to $5.5M. Why?
Because Sydney Sweeney’s real Twitter account tweeted about the coin from her official account - saying “so i guess i have the best tits in crypto now too $milk 😜”
Someone obviously hacked her account (the tweet is now deleted), but like I said: hilarious shit happens when money is on the line. The $MILK dev was really working for his bags.
2. GameStop 3 year anniversary (also gets tokenized in $GME)
3 years ago yesterday, January 28 2021, was when the people fought against the hedge funds and (almost) won - until they changed the rules by removing the buy button (another reason why we need crypto). Hard to believe it’s been three years since GME - arguably, a lot of the behavior we see on crypto and NFT Twitter spawned or took inspiration from that crazy week 3 years ago. There’s a good thread that covers the lead up and aftermath here. Or you can watch “Dumb Money”, the hollywood adaptation - I just watched it a couple nights ago, would recommend.
But the story isn’t done - the energy of GME lives on, and last night it was tokenized on Solana.
On the eve of the anniversary, a dev launched GME on Solana (wallstsucks.lol) which ran up to $12M marketcap just 15 hours after its launch. It’s currently sitting at a marketcap of $11.3M. Clearly, GME is still alive today - and speaks to a broader trend i’m noticing: the tokenization of trends (next story).
3. The tokenization of everything
The two tokens above - $MILK and $GME- are examples of what’s been happening in crypto lately. As something goes viral on Twitter or TikTok - it can be an image, a meme, a person, an idea (“Go Fuck Yourself” - Elon), an accompanying token is launched. This would happen first on Ethereum - where there was a lot of attention and liquidity already available - and now almost exclusively on Solana (due to the low gas fees). When Elon told Bob Iger and other advertisers who left X to “Go Fuck Yourself” at the DealBook Summit, a token was spawned on ETH minutes later. The coin reached a marketcap of ~$16M at it’s peak.
This might sound dumb (and it is, I’m aware), but it’s hard to deny there’s something happening here. Call it the tokenization of trends, moments, or everything, or call it day-trading attention.
Dozens of coins launch everyday, hoping to catch the latest trend, meme or moment, and go viral. The more mindshare it gains on Twitter, the more the price goes up, which brings more eyeballs to the coin which causes the price to go up - a flywheel is created. The ones that can capture sustained attention overtime, are welcomed with listings on Binance, Coinbase, and Kraken. There’s a memecoin with a dog wearing a hat - with a marketcap that fluctuates between $250-400 million. That’s equal to the valuation of pets.com at the height of the dot-com bubble.
It’s now easier than ever to deploy contracts on chain, which is ushering in tokenization at a rate we’ve never seen before. And this is just the beginning. Many millions can and are being made day-trading attention. If you don’t like it, you can…
4. OpenSea is “open” to acquisition
Is OpenSea getting acquired? Well, if someone comes with the right offer, Devin Finzer, CEO of OpenSea said that they’d be “open” to it. OpenSea’s story from 2020 to 2024 is a stark reminder of how a first-mover advantage doesn’t mean anything if you can’t hold onto the lead.
Let’s look at some stats - the graph below shows that in the past 2 years, OpenSea’s weekly volume went from a commanding 85% to just 16.8%. They lost heavy ground to the new player - Blur - which came on the scene October 2022. Since then, with their superior purchasing experience, and an incentivized points system - which rewarded users with a $BLUR airdrop - Blur dominates NFT trading volume, holding 73% of the total marketshare today. Even the mighty must fall.
And of course, Twitter was on point with the jokes at OpenSea’s expense:
5. Jupiter launches WEN meme coin in prep for $JUP airdrop on Jan 31
Solana’s leading decentralized exchange (DEX) Jupiter is gearing up for the first round of their airdrop. To prepare their platform for the launch of their $JUP token, their CEO Meow, launched not one, but two memecoins in the span of 2 weeks: first $MockJUP, then $WEN.
Some might say that’s excessive (and I would agree) - but he claimed it’s to stress-test Jupiter so that it’s ready for the real airdrop of $JUP on January 31st.
If you have a Solana wallet and used it in the past 6 months with as little as $5, you likely have some WEN waiting for you - check here. Claim ends at 10am ET (aka 2 hours after you received this), and its worth ~$95 USD right now. Go claim before it’s too late.
6. Pudgy Penguins launch OverpassIP for easy NFT IP licensing
IP usage is one of the longest enduring narratives with NFTs. Pudgy Penguins is probably the only project that’s leveraged their IP - cute penguins JPEGs - to prove that the IP narrative with NFTs has legs. They licensed pudgy holders IP to create plushies and sold millions of dollars worth on Amazon, then got them into Walmart.
Now, they’ve launched “OverpassIP” - an IP marketplace that enables NFT holders to easily license their IP. The website allows companies to submit a proposal to license NFT IP. In the proposal, they detail how many NFTs they are looking to license, what the royalty split will be, and how the IP will be used. It’s open to Pudgy Penguin and Lil Pudgy holders right now, but they have plans to expand the platform to other NFT collections too. Check it out here.
That’s all for this week
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- atareh out