Rug Radio Recap - February 5, 2023

gm! It's been a little more than 2 months since we announced Faces of Web3, our PFP that was designed in collaboration with Cory Van Lew, during Art Basel in Miami and the mint is now just 1 day away. Which trait is on your wishlist?

Here's what we've got in this week's recap...

• Faces of Web3 mint opens tomorrow

• Open Edition SZN

• Digi Daigaku releases Super Bowl commercial trailer

Faces of Web3 Mint Opens Tomorrow!

The first wave of the mint for the Rug Radio PFP opens tomorrow and here's everything that you need to know to be ready...

• The official announcement of the mint going live will be made by Farokh live on video and Twitter Spaces. Shortly afterwards, we'll send out an email with all of the official mint, secondary, and announcement links.

• Mint Schedule

  • Wave 1: This first wave is only for Genesis NFT holders, Cory Van Lew 1 of 1 holders, $RDAO holders before December 27, and our creators. The mint window will be open for 48 hours.

  • Wave 2: Depending on the number of PFPs minted during wave 1, we'll announce wave 2 which will be a mint in ETH for allowlisted communities (TBA).

  • Wave 3: Depending on the number of PFPs minted during wave 2, we may open the mint to the public with a limit of one (1) PFP per wallet.

• Mint Price

  • Genesis NFT holders: 690 $RUG

  • CVL 1 of 1 holders, Rug Radio creators, $RDAO holders: FREE

  • Allowlist & Public: TBA (will be less than .1 ETH)

• Additional Info

  • Be sure to claim your $RUG tokens as the first wave can only be minted in $RUG

  • Refer to the Faces of Web3 section of our Wiki for the most up-to-date info and official links

Open Edition SZN

If you've been active on Twitter this week, you've likely seen open edition mentioned on the timeline at least a few hundred times. It seems like everyone was dropping an open edition this week, and the stats from Manifold support that with a significant increase in the volume and number of claims over the past month. Just this week, we saw M0N3Y PR1NT3R G0 BRRRRRR by NessGraphics generate 1,400+ ETH as well as The Collector by Victor Mosquera generate 224 ETH in primary volume.

Why is that? Well, let's take a little bit of a dive into the world of open editions, the tech that drives them, and their impact on the culture.

Open editions allow creators to offer a virtually unlimited amount of a piece for an indefinite period of time (e.g. forever like Amber Vittoria's piece) or for a specific timeframe, the latter of which is technically called a timed open edition. This ability has especially been accelerated by Manifold and the development of their free, no-code minting platform, Manifold Studio, enabling anyone to easily launch their own digital collectibles.

Art that is minted as an open edition is also usually made available at a more affordable price point, when compared to an artist's 1/1 work. This allows collectors to collect from artists they love at more accessible price points, as well as for artists to generate income and discover a wider group of people who are interested in collecting their work. While collectors should expect the only utility of the art to be the art itself, some artists have implemented creative solutions such as burn mechanics for a second piece of work or early access to future limited edition or 1/1 drops.

The big question: With the hype surrounding OEs, should everyone be releasing an open edition? I would say that Kmoney breaks it down pretty well in 60 seconds.

BAYC released a video recap called Leaderbored highlighting the key community moments, tips, and what to expect next with Dookey Dash.

Blur found a way to bypass OpenSea's blocklist filter leveraging Seaport, the marketplace protocol developed by OpenSea.

NFT minting platform Manifold announced its new monetization plan where buyers will now be charged a $1 fee on all transactions.

California DMV is experimenting with minting car titles on the Tezos blockchain with consumer applications coming soon.

Gabriel Leydon released a trailer for the world’s largest free mint happening live during the DigiDaigaku Super Bowl commercial on February 12th.