Rug Radio Recap - July 23, 2023
A simple PFP change and unexpected mint show that web3 culture is still very much alive.
gm fam! In the world of crypto and NFTs, the tides can turn quickly, and a simple change in a profile picture can set off a remarkable chain reaction. This was the case when ThreadGuy, a well-known figure in the NFT community, decided to switch his avatar to a custom Opepen. This seemingly small move unleashed a series of unexpected events that brought the entire web3 community together.
This is Rug Radio. Culture doesn’t make people, people make culture.
Here's what we've got in this week's recap...
Rug Radio Updates🎙️
For The Culture: ThreadGuy’s unexpected outcome⭐️
Doodles announce IRL experience in Chicago🌈
Holdings as of July 22.
This week's featured artist is Matt Scobel, a digital artist from the Canadian Rockies who started his creative career as a photographer and filmmaker before immersing himself in the world of 3D art.
This week’s piece by Matt, Ticket to Fuji, is a customized piece based on his dynamic piece called Fuji, where he ventured into Japan's awe-inspiring landscapes, capturing the majestic Fuji through a transformative digital lens.
Rug Radio in South Korea🇰🇷
Are you ready for the next Rug Radio event and opportunity to meet some of the team?!
We’ll be heading to Seoul, South Korea for Korea Blockchain Week from September 4 - 9 where Farokh will be speaking, and we’ll be hosting a community meetup in collaboration with Yuga Labs and BAYC Korea. The event also happens to fall on Farokh’s birthday🎉
Next @RugRadio event is going to be a BANGER! Been working on this one a lot, get ready to run Paris back but this time in South Korea, with our friends at @yugalabs once again! 🇰🇷
Aaaaand it’s on my birthday, get ready for a great one!
— Farokh (@farokh)
Jul 21, 2023
Rug Radio Content Contest
Get your creative juices flowing and show us your best Rug Radio content!
We are excited to announce the Rug Radio Member Content Contest, where participants have a chance to win $250 USDC each week! Here’s everything you need know…
To enter, simply create content related to Rug Radio. The content can be anything from memes, music, art, videos, threads, blogs, to even TED talks.
The contest runs from Monday at 12 PM EST to the following Monday at 12 PM EST each week until September 4th.
Asprey Bugatti Egg Collection
111 Eggs linked to generative art in Bitcoin.
Pre-Sales now Open. Apply at aspreybugatti.com
The Asprey Bugatti Egg Collection is a limited-edition collection of 111 physical eggs linked to generative NFT art in Bitcoin Ordinals, created by the luxury brands Asprey Studio and Bugatti.
It will be the first ever collection by two luxury brands using a state-of-the-art technique of inscribing digital content on the Bitcoin blockchain, ensuring the artwork will last indefinitely.
“The purest perfect shape of nature is the egg.”- Carlo Bugatti
Inspired by Carlo Bugatti, the NFT’s are cursed inscriptions on uncommon sats, featuring the oval shape backlit, where the light shines behind the egg and slowly creates beautiful silhouettes to infinity. Within the NFT, it is possible to switch to a “diamond shell” version that illustrates the complexities of the oval. Carlo Bugatti's influence can be seen in the distinctive egg-shaped grilles that are a trademark feature of Bugatti cars even to this day.
The concept was created by Ali Walker, of Asprey Studio who worked closely with Bugatti on a daily basis, designing the egg and NFT art.
"It is also coded by a new generation of masters. The amazing quality about this project is its master artisans meeting master coders, creating a new form of masterpiece in the new gold standard; Bitcoin." - Ali Walker
The collection is inspired by the Bugatti Type 41 Royale, the most expensive car ever made, and features a carbon fiber eggshell, a sterling silver diamond weave lattice, and a dancing elephant motif.
Wiebke Ståhl, Managing Director at Bugatti International said: “Ettore Bugatti believed in aesthetic engineering, creating art out of each component of his vehicles. He saw the world through the eyes of an artist, taking inspiration from the work of his creative family. We maintain these values to this day at Bugatti, working closely with our partners like Asprey to create objet d’art in the vision of our founder. The creation of the Asprey Bugatti Egg Collection is a wonderful homage to our history and the creations of Ettore, designed with the pioneering spirit and attention to detail that led to his brand becoming revered throughout the world."
The surface of the egg itself displays a “Dancing Elephant” motif, recreated in perfect detail from one of Rembrandt Bugatti’s original sculptures. It was this work of art that adorned the bonnet of the Bugatti Type 41 Royale, renowned as the most luxurious car ever created. In order to recreate the sculpture in perfect detail, Asprey Studio traveled to the home of Bugatti in France to accurately 3D scan the bonnet mascot of one of the few remaining Type 41 Royale cars. The sculpture was then recreated in minute detail by Asprey’s expert silversmiths.
The intricate lattice and carbon fiber shell opens with a complex hinged diamond door to reveal a scene of the Chateau Saint Jean – the iconic home of Bugatti in Molsheim – in front of which is a sterling silver stylized Bugatti Type 41 Royale Esders.
“This is way ahead of its time, innovative and challenging, a true digital and physical masterpiece impossible to replicate unless you are Asprey and Bugatti.” - Ali Walker
The pieces start at $20k, which includes the physical egg and the NFT, of which the physical egg can be redeemed within 12 months.
It is on display at the Asprey Studio gallery in Mayfair, London.
To order visit: www.aspreybugatti.com
About Asprey Studio:
Asprey Studio is part of the Asprey luxury house. The Asprey Studio is split into three areas, design studio, 241 NFT members club and the Asprey Studio Gallery. Founded in England in 1781, Asprey has long been considered the pinnacle of luxury. Offering unique products, very often bespoke commissions completed in its famed workshops, Asprey caters to the most demanding and prestigious clients in the world, including royalty, heads of state and international connoisseurs.
To learn more about Asprey Studio, visit aspreystudio.com.
Bugatti has dominated the auto industry for 110+ years, crafting powerful and luxurious cars in Molsheim, France. Known for comfort, drivability, design, technology, and reliability, Bugatti's creations are sought after worldwide.
In the 1920s, Bugatti gained fame for racing successes with models like the Type 13 and Type 35. Jean Bugatti influenced the brand, creating elegant touring cars. The Type 41 Royale and Type 57 SC Atlantic are among the world's most expensive classics. Over its history, Bugatti has had ingenious custodians. Revived in the 1980s by Romano Artioli, the brand set new benchmarks with the EB110's quad-turbo engine and carbon fibre monocoque. Under Ferdinand Piëch, Bugatti introduced the Veyron 16.4, revolutionizing hyper sports cars. It exceeded 1,000 PS and 400 km/h.
The Chiron, launched in 2016, redefined speed and usability. Today, Bugatti develops hyper sports cars within the Bugatti Rimac Group, staying true to Ettore Bugatti's motto. They also expand into luxury lifestyle products and collaborations.
For The Culture
The web3 Twitter timeline can often feel like a constant stream of chaos and drama, driving many away from being active. However, the story of ThreadGuy and Opepen is a refreshing change of pace, demonstrating the culture of web3 and how a simple tweet can bring fun and good vibes back to the timeline.
The story began when Bored Elon Musk, a prominent NFT collector and personality, made a generous proposal. He offered ThreadGuy a rare Opepen valued at $40,000 in exchange for ThreadGuy's Mutant Ape that has been a part of his brand for years, under one condition…that he must hold onto the Opepen for a minimum of 3 months.
Just offered @notthreadguy one of my 001 Opepen's in exchange for his Mutant Ape PFP. Putting this out there publicly so i'm held to the deal.
Terms are he needs to hold onto the 001 for at least 3 months. I'll hold the mutant at least 1 year.
Your move TG
— Bored Opepen (@BoredOpepen)
Jul 11, 2023
As the news of the potential deal gained more attention, Luca Netz, the CEO of Pudgy Penguins, made an offer of his own. He presented ThreadGuy with a lucrative offer, providing a 10% royalty with a $1 million sales guarantee if he changed his profile pictures to a Rog, a fishing pole expansion piece to the Pudgy Penguins ecosystem.
JUST IN: @LucaNetz promises to launch toy fishing rods and give me a 10% royalty on every sale with a $1m sales guarantee if I change PFPs to a rog twitter.com/i/web/status/1…
— ThreadGuy 👑 (@notthreadguy)
Jul 12, 2023
Just when ThreadGuy was contemplating Luca's offer, Bored Elon Musk surprised everyone by adding a twist. He expressed his willingness to let ThreadGuy accept Luca's deal first, but only if ThreadGuy agreed to carry out Bored Elon Musk's offer beforehand. He didn’t accept either deal.
This is where Jack Butcher, creator of Opepen and someone ThreadGuy deeply respects, entered the picture. Jack ingeniously created an Opepen inspired by ThreadGuy's Mutant Ape, a gesture that further intensified the buzz.
With Jack's Opepen now in the mix, the NFT community went into a frenzy. In support of the movement and ThreadGuy, a large group of the community changed their PFPs to Jack’s creation and many even created their own derivatives.
— SarahScript (@sarah_script)
Jul 17, 2023
Feeling the energy on the timeline and inspired by Jack's creation, ThreadGuy eventually changed his PFP to the Opepen with a caption by Jack that philosophically describes the current state of the web3 space. The story doesn’t end there, and not even Threadguy was expecting what would happen next.
if everyone gets it there’s nothing left to do #NewProfilePic
— ThreadGuy 👑 (@notthreadguy)
Jul 16, 2023
Less than an hour after ThreadGuy updated his PFP, Jack launched a $2 open edition mint named Opepen Threadition. The best part? All proceeds from the mint would go directly to ThreadGuy, a heartwarming gesture from a friend and a display of generosity within the NFT community.
The Opepen Threadition mint quickly became an overwhelming success. In a matter of days, over 53,000 Opepen NFTs were minted, generating over $106,000 for ThreadGuy.
In an industry that gets a lot of negative press, it’s stories like this that show no matter how low the sentiment is towards web3, the culture is still very much alive.
Prices as of 8pm ET on July 22.
Volume returned to NFT projects this past week as crypto prices stabilized, however, this week was the lowest weekly volumes in NFTs since the beginning of the year.
Art, especially generative art, continues to see some decent volumes with a few high value Fidenza sales and DeeKay motion selling a piece for 52.5 ETH.
After a big rally last week, crypto cooled off ending the week slightly lower. The general sentiment appears to be “wait and see” with the FOMC on Wednesday where most are expecting a 25bps (0.25%) interest rate hike.
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