Crypto’s Cultural Lifeblood | Bankless

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1. 🌐 Oncyber revamps. With its new V2 release, the multiverse platform optimized its game engine into a streamlined worldbuilding platform for NFT creatives.
2. 🎨 A SuperRare L2? SuperRare Labs, the builders of the SuperRare platform, have proposed the creation of a Rare L2 to serve as a next-gen art market.
3. 👿 Degen’s woes. Degen announced a major infra shakeup and published a refund form upon some users facing significant bridging problems when transferring funds to the Degen Chain L3.

Crypto’s rapid evolution is often attributed to technological advancements, but at the heart of blockchain’s growth lies an overlooked force: culture.

While many analyses focus on the hard power of innovation and tech breakthroughs, the soft power of shared values and community is equally crucial.

In today’s guest post, Diario, cofounder of NFT Price Floor, makes the case for why culture is the lifeblood of blockchains and how it shapes their value and future.

Let’s explore the significance of shared beliefs and cultural artifacts in crypto! 👇

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I’m introducing a new content module: Bullish or Bearish.

You get the idea. I pick out and give some takes on a popular NFT collection and then decide whether I’m hot or cold on its current standing in the digital collectibles scene.

For the first in the series, I wanted to take a look at Cool Cats.

What I like most about the Cool Cats is the artist and the art. The “Blue Cat” character by Colin Egan (a.k.a. Clon) predates the 2021 NFTs by many years and has fans outside of crypto precisely because of the charming aesthetics.

I’d say these are some of the cutest aesthetics in all of NFTs, and I think that bodes well for iconicness going forward. You wouldn’t mind rocking the right Cool Cat as a PFP, they look great.

Plus, this art and these characters are Clon’s babies. There’s a love in the leadership here that most projects don’t have. That’s a green flag and gives me faith that the collection and brand have a future.

Where I’m more bearish is on general macro vibes and market saturation. The NFT market is in a slump, and there are so many projects to compete with now, including memecoins. Without a major catalyst, there isn’t much to draw attention in to the Cool Cats right now.

Can catalysts come? Absolutely. Will the collection’s floor price record of 13.5 ETH be reached again? I don’t see the path there at the moment, though that can change.

Ultimately then, I’m bearish short-term and bullish long-term. The things dogging the Cool Cats are the things dogging most NFT collectibles today, but the collection has more enduring art than most of its peers. This can translate to staying power and renewed traction later if a few more puzzle pieces fall into place, so to speak!

I want to put Crowdmuse on your radar, as it’s a cool new project that just launched its beta today.

In short, Crowdmuse is a protocol + platform combo that makes it easy to collaborate on digital and physical product drops. The idea? With onchain coordination, simplify managing releases across consumer goods, fashion, print, and more.

Once deployed, your products can be sold on a range of different networks with USDC and credit card payments, and Crowdmuse also automates revenue splits, so collaborators earn their fair share from sales along the way.

I can see this sort of platform becoming popular with both indie creatives and brands in crypto, so keep an eye on it or give it a try sometime if you have your own drop you’re cooking up!