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It's Happy Hour at Sotheby's

Hey Friends,


Bottom’s Up! It’s Mojito time. Sotheby’s has made it abundantly clear that digital art is the future and that the NFT rabbit hole is the place to be. After announcing the launch of Metaverse, with the help from the folks at Serotonin in NY, Sotheby’s has followed that up with a $20m seeding round in Delaware-based Mojito, a NFT platform that provides creators with all the tools to launch NFT projects. Mojito is run by Dan Kinsley who was previously head of technology at Serotonin and is part of Serotonin’s incubator eco-system. Quite the family affair but of the dynastic kind.

While easy to dismiss Sotheyby’s as legacy industry’s last stand, I actually think that it’s a bold move on Sotheby’s part and a clear signal to the marketplace that it’s willing to engage on the metaverse’s terms and that is the right approach. Humble, deferent yet decisive and determined. Staying tuned on this one.


Remember last May’s crypto crash? Bitcoin at $34k and Ethereum at $2,3k? I think it’s extremely important to remember that feeling in order to appreciate today’s record-breaking highs, $66k and $4,2k respectively. I think, ultimately it’s about coming to terms that crypto, blockchain are the future and there’s no putting that genie in a bottle. Granted, the barrier of entry into crypto are pretty high given the crappy UX, but nonetheless, the on-boarding is a daily occurrence with a gold-rush feel to it.

Despite the eye-rolling reaction of the NFT community to the latest celebrity drive-by, there are some legitimate and serious overtures by a few of them. Thinking of Snoop Dogg and his hysterical Twitter persona Cozomo de’ Medici and Reese Witherspoon with her humble, maiden NFT-related tweet: “Just bought my first ETH! Let’s do this #cryptotwitter”. As a champion of women, It’s commendable and somewhat expected of Reese to champion and support what I think is an amazing GA (Generative Art) project like World of Women.











World of Women is computer generated colelction of 10,000 collectible NFTs that represent as in the words of the creator Yam Karkai “unique, cool and diverse Women, ready to leave a mark in the NFT space! World of Women was created with the aim of bringing more diversity and representativity into the NFT space while at the same time bridging the gap between the collectible world and the 1/1 art world.” The floor for the collection, at this moment, is 2.25 ETH.

SuperRare Space Race has just ended with about 35 super-qualified entries. The SR Spaces initiative is a further development of the most recent SuperRare DAO creation and $RARE Token issuance whereby, in a way, SuperRare gave itself to the community and with that in mind, Spaces is a way to open up the process and share some of that control to the community of artists and collectors. Spaces will allow collectors and curators to open up virtual spaces/galleries on the SR platform and curate their own shows, onboard new artists and pretty much develop an entire eco-system of digital art creation and consumption. There were some distinguished entries from major players in the space, such as London-based MOCDA headed by Director Serena Tabacchi and London-based also, coincidentally, digital art-house Gazell.io. Submissions were amazing and competition will be fearce. As part of the SuperRare DAO, I will be taking part in the vote coming up in the next week or so, but super excited about the prospects of this initiative.

I’ve recently added two works of an amazing young up and coming artist in my NFT collection which I’m very proud of and feel like sharing with you all. 2100 D.C. and Memories of a Lost World by Italy-based @lstudios_m (Mattia Pannoni) are in my humble opinion, very important and consequential works. I referenced his work in my last post but wanted to highlight the specific pieces I collected. You should definitely take a look at Mattia’s work on Foundation, which by the way, have all been sold. Highly recommend keeping him on your radar.









Projects to Watch for:

Party Degenerates is a 10,000 strong collection of GA (Generative Art) NFTs and a collaborative effort between the who’s who of the NFT space. Thinking of @farokh , @alekskay , @seedphrase and top artists like @skygolpe , @ykarkai , @coryvanlew etc.





The minting just happened but still affordable on the secondary with a reasonable floor price of 0.75 ETH. The project’s big reveal will happen on October 31st when each collector gets to meet their Degen that they’ve already minted or bought on the secondary. Looks like there’s a charity component to the project with 10% of proceeds going to less priviliged artists and musicians. Another upside to this project is the full commercial rights granted to the collector of each Degenerate, which if one looks at the circus surrounding the BAYC project, one can appreciate the implications of such a grant.


Alla Prossima,


Michele

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