Capsule Craft Studio

Providing back-end economy services for indie-game devs. In-game purchases and virtual currencies stored on a decentralized database! Powered by @SuiNetwork

[Teng Yan @tengyanAI]

We just had a "Black Weekend" for NFTs.

Floor prices for BAYC, MAYC, Azuki, Memeland Captainz and other PFPs fell 30 – 60%, accelerating over the weekend.

What caused all of the panic selling?

It all started with the Azuki Elementals mint.

The Azuki community spent $38M to mint this new collection. Azuki was already somewhat fragile with significant leverage in the system (almost 700 Blend loans at one point, 7% of the total supply).

The Azuki Elementals reveal raised many questions:
- Why do they look like OG Azukis? Was this a cash grab?
- What do you actually get by owning an OG NFT, that justifies their prices?

The TL;dr is that there was poor expectations management. Everyone expected something mindblowing. What we got was confusion instead.

In one universe, this selloff could have been isolated to Azuki. But NFTs are never in isolation. Many Azuki holders also hold other PFP NFTs (and vice versa). And @Memeland Captainz began their reveal on Saturday, which at first glance seemed disappointing.

This triggered a sudden lack of faith to propagate across NFT communities: Are NFTs worthless / overvalued like everyone is saying on CT?

Cue Panic Selling.

PFP NFTs clearly function as classic Veblen goods. NFTs that looked good at 15 ETH no longer look as good anymore when they are at 5 ETH!

Demand evaporated as prices fell.

And the icing on the cake: Even though a good % of NFTs are held by diamond-handed community members who haven’t sold for months-years…

…a large amount of the liquid supply of NFTs is in the hands of Blur farmers who have been slinging them around in a PvP battle to earn Blur points over the past 4 months. (h/t to @OGDfarmer for this insight)

They have no incentive to hold onto their NFTs. So once the selloff started, they only added fuel to the flames and exacerbated it.

Now that the selling has settled a little — is this a generational buying opportunity, or a calm before the next storm?

[Capsule Craft Studio @CapsuleCrafter]

@SolportTom I liked the original anime art better. Idgaf if it has mass market appeal or not; it has appeal to me and that’s all I cared about. I dislike the revamped art.

[Capsule Craft Studio @CapsuleCrafter]

@SpaceIsntSuffic @unitygames @AssetStore I’m confused by this sentence

[Capsule Craft Studio @CapsuleCrafter]

@unitygames @AssetStore What did Atlas do? Any context?

[Capsule Craft Studio @CapsuleCrafter]

@CGuillaume_ @unitygames @AssetStore They didn’t review them when they verified them? 😂

[Capsule Craft Studio @CapsuleCrafter]

Really sad to see you guys go; I remember meeting you at the Solana hacker houses early-2022!

I still have the SOL Hacker House NFT in my phantom wallet.

I wish your NFT standards got more integration rather than Metaplex. Either way, blockchain is a hard space to be in.

[Capsule Craft Studio @CapsuleCrafter]

It's crazy that, even after everything that's happened to Solana, @MagicEden and @tensor_hq are still doing a combined $2+ million in NFT sales volume per day.

[Capsule Craft Studio @CapsuleCrafter]

Unpopular opinion:

NFTs weren’t invented by Larva Labs

They were invented by @garyvee and @jakepaul

[Haven's Compass @HavensCompass]

Our FIRST game night! Tomorrow Monday at 20:00 UTC!

If you hold a Game-Key join our Discord and verify to enter the Developers Dao private group.

[Capsule Craft Studio @CapsuleCrafter]

This is huge! Just point at the Move-package you want to interact with, and this:

1. generates typescript functions so your client app can call it
2. generates a move-package for you to compile against when you don't have the on-chain source code

[kklas @kklas_]

Exciting news, #Sui community! I'm thrilled to announce the release of sui-client-gen -- a tool for generating TS SDKs for Sui smart contracts that will remove boilerplate and save you time.

https://t.co/PGWjqNv7LU

It leverages Move to deliver these three powerful features.

[Capsule Craft Studio @CapsuleCrafter]

@_Pixel_Pirates_ FYI our lead Unity dev @CardboardCabin hates working with voxels😂

[Capsule Craft Studio @CapsuleCrafter]

These are super cute @_Pixel_Pirates_ ! Just picked one up. Super low supply (only 500).

Why is no one doing cute voxel avatars on Sui? Ideally price range around $5 - $10.

$150 for anything game-related is way too much for anyone mainstream.

[Capsule Craft Studio @CapsuleCrafter]

Now THIS is what I was waiting to hear 😉 We’ll be migrating to 2022 LTS today 🫡

[Dan Miller @DanMillerDev]

Unity recently announced support for the Apple Vision Pro with 2022 LTS!

For Full Space, fully immersive experiences (Virtual Reality) you can use the existing workflows along with the hands package and XRI!

More info here: https://t.co/YX658PvpeU

[Capsule Craft Studio @CapsuleCrafter]

.@playBushi season 1 battlepass is now now minting on Clutchy's launchpad!

You can pick it up for just 20 SUI ($13). Naturally, I bought two.

https://t.co/5SzsOA0D95

[Paul Fidika @PaulFidika]

People don't realize that Apple Vision Pro can do _a lot_ more than just add windows to your existing view (AR) or put you in a virtual world (VR);

You can experience the world from new viewpoints:

- 360-degree vision around your head
- 3rd person view using a follow-drone

[Riku @NoveltyRiku]

It's time to stand together against this coordinated attack.

Retweet if you agree with this or found it helpful.

I appreciate you all reading this far.

End/🧵

[Capsule Craft Studio @CapsuleCrafter]

Development always involves unexpected bugs and delays; take your time. You guys are way ahead of the game to begin with! I can't wait to play this.

[Bushi @playBushi]

🚨🚨Announcement🚨🚨

Both our game launch date and our mint have been moved to:

Wednesday, June 14th!

This may come as a surprise, but we only have one chance to get it right. Here are the details regarding the decision.
🔽🔽🔽
🧵1/4

[Charles Hoskinson @IOHK_Charles]

With respect to Binance, I'm reading through the SEC complaint. It's over 130 pages, but seems like the next in a series of steps to implement chokepoint 2.0 in the United States. The end goal is a agenda based CBDC partnered with a handful of massive banks and end-to-end control over every aspect of your financial life.

A regulatory event is where you have a debate about compliance with a law or guidance. This event seems to be a polticial philosophical disagreement with the very existence of cryptocurrencies and what they represent. An unelected group of people have decided that concepts like self-sovereign identity, owning your wallet, and the freedom to control your economic agency should be removed from the masses and given to the "enlightened" few.

Honestly, what is happening isn't anything new. It's always the same fight between freedom and authoritarianism just with different players, technology, and words. It does seem like this event is a perfect opportunity for the entire industry to set aside it's fragmented nature and unite for a common sense set of rules and guidelines that can prevent the United States from slipping into a distopia that would make 1984 look like a vacation.

I'll have more to say later, but will close with we are going to be fine. Everything's alright and the future is bright for the industry.

[Capsule Craft Studio @CapsuleCrafter]

Thanks to @irvinxyz for demoing this in Seoul at the Sui hacker house. I can’t wait to see the session recordings on YouTube

[Capsule Craft Studio @CapsuleCrafter]

Heard people saying Sui is a failure 😂 They haven’t even seen what we’ve been working on yet 😉

We’ve been secretly making an AR world builder for iOS 🤫

Signup below to be notified when it’s available:

https://t.co/scqCuhIDoe

[mySOL2squeeze @MySol2Squeeze]

$SUI has done worse (so far) than I thought it would

Even Aptos did better.

What happened? Was it bad timing, tokenomics, lack of airdrop, lack of foundation support, etc??