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- Are LNR Domains the next ENS domains?
Welcome to the Exit Liquidity newsletter, the place to stay up to date on the ridiculous things that happen in the Crypto, NFTs & Web3. If you are looking to join the community check out the AlphaMint Discord where all the degens gather to chat in the dojo.
This past weekend showed us once again that the blue chip bear market is here to stay. With multiple big ETH sales from multiple blue chip collections like Azuki, BAYC, CryptoPunks and QQL, it's hard not to have conviction in the future of NFTs and Web3. We also saw LNR domains go wild over the last couple days, we hope you were able to scoop up a few up. The NFT space was also treated to some of the worst artwork it's seen in awhile thanks to Azurbala. It almost seemed fake, but we assure you it's not.
LNR domains dominated the timelines over the weekend. For those that do not know, LNR stands for Linagee Name Registrar. Much like ENS domains, they are on-chain domains, but what helped them run is that they are possibly the first NFT on the Ethereum blockchain dating back to 2015.
These historical NFT domains were discovered by @m_keresty and @LeonidasNFT helped bring LNRs to a bigger audience. They predate the current ERC-721 format, but can still be minted and then wrapped to be displayed on modern marketplaces. The domains sport a '.og' TLD and do not expire once registered. They currently have no on-chain use like linking your wallet with your .eth address, but with how quickly the community is rallying around the project it's only a matter of time before we can link them to wallets or use them for something else.
Like we said, these have been flying the last couple of days. Much like the recent ENS domain craze, there have been over 400,000 LNR domains registered. People are moving fast on these because they saw how much ETH volume there was in ENS domains. These were shared last Friday, September 30th, by @dripcult in the AlphaMint Discord. We know there were a few members who were able to snag some solid LNRs.
There are still opportunities, but don't expect instant returns. Many people had to sit on ENS domain names for a while before they saw returns. Don't be shocked when you can't instant flip these. With the low cost to register LNR domain names, it's an easy risk to try and register as many as you can. Feel free to snag your LNR domains and happy hunting.
If you want to mint, transfer or wrap LNR domains, you can use the Linagee Name Registrar website. Once you register your LNRs you can see which ones you hold by using the Etherscan method, Derp Nation's scan tool or by using this Dune Analytics Dashboard. Please remember before signing any transactions you double check you are using the correct websites (if you are unsure, navigate through the LNR Twitter account) and use a separate hot wallet for an added layer of security.
If you've been in the NFT space long enough you have seen your fair share of awful artwork. Some of it meme trends and moons and some of it just gets roasted to death. Azurbala by Tally Labs, creators of Jenkins the Valet, definitely falls into the latter category. So much so that they delayed the Bored & Dangerous burn.
The above is real art from the project. This is what the team put out and featured in their teaser video. Not only does it look weird, it makes zero sense given the narrative they have been creating around this project. We could sit here and shit on this all day, but we don't need to tell you that it looks bad. It's more shocking that an experienced NFT team released this art. For all we know this was a marketing stunt and we've all fallen for it. It's not only a chance to delay given the bear market, but an act to show the NFT space that the team cares and listens. Time will tell on how well this project will perform. There is still hope though for good art. We all saw what Pixelmon came back with.
Crypto
Solana network went down last Friday. The relentless jokes about the network's stability are once again confirmed and continued. Hard to be an ETH killer when they still suffer outages. Maybe PussyDAO can save the SOL network with their underwear NFTs
Coinbase suffered ACH withdrawals, deposits, and buys failures for U.S. bank account users over the weekend
In the latest episode of What Shitty Thing Did Celsius Do This Time? Ex-Founder, Alex Mashinsky, withdrew $10M to pay his own taxes before fund withdrawals were frozen on the platform
Kim Kardashian is charged by the SEC and fined $1.26M for shilling the EthereumMax (EMAX) token. It's almost like they tried to find the biggest celebrity name to create a headline, but ultimately no one gives a shit about her or the fine. What people should care about is that saying NFA or adding #ad might not protect people the way we all think it does
NFTs
Moonbirds announce DAO details. Launching in early 2023 with $2.6M in seed funds and NFTs from the Proof Collective
Renga run continues as it crosses a 3 ETH floor and some degen swept 165 Renga with a 600 ETH loan borrowed against 7 Bored Ape NFTs
Invisible Friends announces partnership with KITH and BMW. We'll admit, this is one of the more interesting partnerships that will include KITH and BMW themed artwork NFTs and merch. As cool as it is to see two well known brands in the space, it feels really awkward and misaligned
0xQuit breaks down the latest airdrop NFT scam that's been going around. Worth a read to educate yourself. Constant vigilance degens
Magic Eden announces that all ETH collections are now available on the platform
Cryptoys sign ups are now live. Cryptoys raised $23M in their Series A which was led by a16z Crypto and also included Mattel, Dapper Labs, Animoca Brands and more investors
LooksRare changes Listing Rewards to only verified NFT projects
OpenSea announces SeaDrop, an open sourced NFT minting/drop contract
Web3
Improbable, one of companies helping to create Yuga Lab's Otherside Metaverse, raises $111M at a $3.6B valuation
Beeple Discord is hacked and linked to a wallet drainer. ZachXBT then posts an ominous tweet about a thread coming featuring Beeple art. We can probably assume it has something to do with the Discord hack
Why Culture Eats Strategy by Evan Armstrong
Regulate Web3 Apps, Not Protocols by Miles Jennings
Disclaimer: The Exit Liquidity Newsletter is meant to be an informational and entertaining way to share interesting things found in and around the Crypto, NFT and Web3 space. Nothing in this newsletter should be taken as the contributor's, Exit Liquidity's or AlphaMint's personal opinion or views. Nothing in this newsletter constitutes as professional and/or financial advice. Cryptocurrencies and crypto-related assets can be extremely risky investments, invest at your own risk.
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