QQL sells out for $16.8 Million

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.

If you were to show people a $4.5M/3,300 ETH CryptoPunk sale, Tyler Hobbs selling out another gen art project for millions and people taking loans on Mega Mutant Apes to the tune of 500 ETH each, they would instantly assume we are in a full out bull run and NFTs are running straight to the moon. Even though we are in a bear market and volume in NFTs is low, it sure doesn't feel like it when these moves are happening.

We don't think anyone is surprised that Tyler Hobbs' new gen art project QQL sold out. That was always going to happen bear or bull. What we think most people are surprised by is that the dutch auction sold out before it went under double digits. It actually ended at 14 ETH which is wild. Well known for the Fidenza's Art Blocks drop, the project selling out and netting $16.8 Million in this market is still a feat. It's nice to see gen art have a moment, but we are quickly reminded that most other gen artists don't have mega successful projects like Fidenza's still currently sitting at a 96 ETH floor and will more than likely come no where near this level of hype and price.

This week has been fun to see the big purchases and know that there are still some crazy degens out there willing to speculate and drop big money on jpegs. We can only imagine what numbers will look like when the bull is fully back on. We also have to apologize for not being able to record an episode this week. Normally we would record it on Thursday and release it first thing Friday, but @dripcult is traveling which messes up a lot of the work flow to drop an episode. We'll be back next week with a fresh Exit Liquidity episode. We still have the newsletter for you so everyone can stay up to date on what's happening around the market.

Crypto

• FTX buys bankrupt Voyager for $1.4B as the FTX US President, Brett Harrison, steps down

• Celsius CEO, Alex Mashinsky, finally resigns. As if stealing, we mean freezing, everyone's staked assets weren't reason enough, he finally feels it's time to go

• Chipotle offers 99.95% off guacamole to celebrate the ETH Merge

NFTs

• Christie's art house launches Christie's 3.0, an on-chain, Ethereum NFT marketplace

• The 'Bored & Dangerous' book is now officially live to read for token holders and the official book burn date is released

• Pixel Vault teases a game which will be a 3v3 brawler type game

• OpenSea adds support for Optimism blockchain NFTs

• The degen play of the week was that someone put up two Mega Mutant Apes to get a 1,000 ETH loan to then buy another Mega Mutant Ape

• Punk 2924 was bought for 3,300 ETH ($4,451,633.94 USD)

• Updated Tigerbob roadmap that includes fashion-related physical airdrops, digital airdrops and more

• Tyler Hobb's latest generative art project, QQL, sold out to the tune of $16.8M

• Star Atlas, Solana NFT game, launches a playable demo that users can download from the Epic Games Store

• Everyone on Facebook and Instagram can now share their NFTs in app

• GutterCat token GangCoin Twitter officially launches with updates on delayed coin release

• Pudgy Penguins look to expand their universe and lore with new video. The story-telling NFT meta is still going strong

• Renga is back on a run with the floor price sitting above 1.5 ETH as of writing

• VeeFriends partners with designer Kim Shui to release merch and it looks terrible, but at least it's affordable. Wait, no, it's not affordable either. Would you pay $235 for this hoodie?

Web3

• Web3 Data platform, Space and Time, raises $20M led by Microsoft

• MetaMask launches beta portfolio Dapp to offer a better user experience

• Audius, a Web3 Music platform, gets 7.5 million monthly users with most not even realizing they are using a Web3 platform or that Cryto is a part of the platform

• Warner Music Group partners with OpenSea to offer NFTs for select artists

• Web2 Google Cloud is looking to claim and own the 'layer 0' that blockchains build on in Web3

• UAE Ministry of Economy opens a Metaverse location

• Yat Siu, Chairman of Animoca Brands, drops a thread on how the company sees the current state of the NFT market. TLDR: Bullish. Very Bullish

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.

Forever hodling your favorite influencer’s bag: @R2Degen @DRTYMLK @dripcult

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