SOLANA NFT/DEFI/TWITTER ECOSYSTEM
nft on sol
is it over?
& MUCH more
FROM THE EDITOR
r0b0sapiens so far.
NFT on Solana
SolscanOffical writes #alpha
Solana Journey 2
NFTPit so far.
What to expect
What to expect #alpha
Is it Over?
StackerSatoshi sheds light
The boy stood on the burning deck,
Whence all but he had fled;
The flame that lit the battle’s wreck,
Shone round him o’er the dead.
Alas, it's not over yet. There is a distinct musky smell in the air reminiscent of 2018. If you were there you will
remember it well. Fear. Usually preceding capitulation. Any reprieve will be slight and short lived. Look for the
bottom, you'll know it when you see it. Just like that boy standing on the deck waiting for the call as all around
his world was burning and crumbling.
Another bumer issue to keep you entertained with over 170 pages. Over 100 NFTs curated from the 2 major
exchanges Exchange and Formfunction. I'm sure you have noticed the *new* EDITIONS section that kicks off
each issue of #SHILLzine. The section is a representation of edition nfts available that allow anyone to enter
the scene without breaking the SolBank. Pieces that run at 0.1Sol all the way to 3Sol as an entry to collectible
artists. If you are going to start anywhere then start with an edition.
This issue's main NFT section contains quite a few FLASHBACKS to the OG artists that have been in the space
for 6months or more. Their pieces are still available. Timeless. ZeeWhyEl, LowBrowNative, Caro, FLGArt, Lit
Jesus, GlitchStroke, PinkSkullQueen, Polyline, Ch1llArt, Hipocreate to name a few. If anything give them a
TWEET telling them you saw their piece in #SHILLzine.
And the cover? Something different. Bendolgasm takes the honours this week with a black and white piece.
A few project reviews worth reflecting on. Consider that these were written in Oct 2022. Look at where they
are now. The current state of the market has really hit everything, knocking the wind out of the sails. Will
#SHILLzine still has pieces listed for auction. Every little purchase helps make this magazine worthwhile. Listed
on both FF and Exchg. Proceeds go to helping this magazine grow and become better. All the World's a Stage
is live now https://exchange.art/pixeltoy/ and Do You See Me? https://formfunction.xyz/@Pixeltoy.sol/
Your support via retweets helps #SHILLzine reach a broader audience. Every retweet is greatly appreciated. It
has helped this magazine achieve 525,765 Views across 82 issues. That has to be something?
Ready to dive in?
Enough said. You know the drill.
#SHILLzine is INDEPENDENT. Pixeltoy puts it together. The content used is IMPARTIAL. #SHILLzine neither
AGREES nor DISAGREES. It is presented in these pages as a reflection of the sentiment of the time. Sometimes
controversial. Sometimes exciting. It is presented in these pages so that YOU make your own mind up.
The following 2 pieces is what #SHILLzine collected over the past week.
Revolver #010 @octav
UNST CULT @AmeT
Anyone find it ironic
that two titans in legal
compliance ended up
birthing the complete
opposite of what they stood
Keep your eyes on...
Secret Sphinx Society
It’s my turn to write my #SolanaJourney . Or how a crypto atheist has been converted and what I believe is the
future of crypto.
When I first heard about crypto my childhood friends were mining BTC on their personal computers. Because
they came from a hacking background, they had been exposed to other previous proto-currencies rugs, so they
sold 800+ BTC at the excellent price of $3/BTC.
As I am a circumspect man, Satoshi’s story seemed suspicious to me and I was sure that at some point it would
all go to zero. But I believed that until last year when I decided to study the crypto industry in depth.
Realising the opportunities that the crypto industry offers, I designed a coin-issuing model based on the number
of kilometres driven by an electric car driver.
All well and good until my then partner told me on the last day that he no longer had the money to start the
project and that I should put up the funds and he would give the money to me later. LOL.
Disillusioned with the time wasted in this business and realising that the time for ICOs has passed, I have refocused.
On the bright side, I discovered Solana and was exposed to #SolanaSummer from the beginning.
There was a time when they minted OG collections and I remember not wanting to mint @thugbirdz because I
didn’t like the art. LOL! A mistake I continued to make, my art-director background pushing me to judge NFTs by
art more than community. Back then DigitalEyes was being built and I remember the many conversations I had
with @jemmmyjemm and @A2KDeFi and the FOMO I had about launching a generative poetry collection. I’m
SHILL Issue #83
eferring here to #NFTPoetry. It was one of the first 10
collections on DigitalEyes.
The success of the collection was quite big and among
the collectors were @Pixeltoy & @StephenCurry30.
@0x_thug saw the collection and asked me to put one
of the poems as background for his @thugbirdz. I happily
sent him a NFTPoetry & he sent me a @thugbird in
I released a series of 50 of these masks that I either sold
or gave as gifts. I was experiencing enormous joy and
was willing to dedicate myself to the community. That’s
how I got the CAW CAW series of banners out, how
many of you still have them?
I accidentally sent an NFT to an ETH address and that
NFT was gone forever. But I resurrected it as #Phoenix-
NFT and put it up for sale on Digital Eyes.
That NFT was bought by @0xCelon and the artwork
featured on the NFT got me thinking about what was
to become the MF DOMM (all caps!) mask. I mean
the first accessory for another collection, namely @
Seeing that there is a need for accessories for those
thugz who are birdz (or vice versa), I created a series
of accessories for thugz. Thus @PimpMyThug, the first
collection of accessories on $SOL, was born. Or maybe
in the entire history of NFTs? Correct me if I’m wrong.
The original idea was to build a protocol for composing
NFTs but the same “friend” who rugged me in the above
lines, rugged me again. So, I manually placed accessories
over thugz and made lots of friends. Always the bad
is for the better, is my philosophy of life.
It seems like an eternity ago but it was only a few
months. Then @Henry_DeFi (who the fuck is Henry?)
invites me into what was to become #MoustacheDAO
and I set about making 1:1 PFPs for all the members
based on the model I had prepared for #Renegades.
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Then comes HH Lisbon (thank you @larisaNFT) and I’m
glad to meet my fellow @exchgARTcompatriots (no, I
haven’t forgotten! let me know when you have time).
I meet up with brother @Ogibx (the French and the
war, it must be comedy!) and meet @MetaPsilo.
Thanks again for the invitation to the dinner, it was one
of the best evenings in Lisbon where I had the chance
to meet @basketNFT, @SolanaInsiders and all the
At HH roof top party I meet @pit_the_panda, scan it
with @broken_scanner and tell him the idea of the collection
with a single NFT. Remember “King of the Hill”?
If not, even better. You’ll be among the first to know :)
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Not to forget! A BAYC writes me on Telegram “Looking forward to meeting you, old friend”. And I reply “Me too,
@sainteclectic”. In the tent on the ground floor I meet in the flesh one of the most remarkable people in SOL .
Back home with the idea of a product that helps mass-adoption (thanks for the help @0x1dad). I’m getting ready
to launch the #Rengades collection (the MVP of the product I have in mind) but I’m sidetracked by the bad news
that has shaken the entire crypto landscape.
It’s okay, we’re big boys and we can do things better this time. That’s why I’m planning to launch a series of public
audits for the big $SOL products and services to improve the UI/UX user experience and prepare the market
for mass adoption.
I firmly believe that DeFi and NFTs have paved the way for the entire industry for what is to come. And what’s
next is #mass_adoption in crypto. LFG!!!!
SHILL Issue #83
A Recap of NFT
Movement on Solana
A coverage of the big moments for Solana NFTs in recent months.
New Developments for NFT Market on Solana:
The recent conversation in Solana NFT Twitter, and more broadly Crypto Twitter, has been fascinating.
Royalties are once again at the heart of the discussion between web3 ethos and practicality in periods
of volatility, while the recent downfall of FTX cast a wide gloom on the ecosystem, with participants taking
taking different options for their own projects.
In this article, we’ll go through the moments that spark the conversation, and how the developments
The big debate on Royalty:
In many ways, NFT is considered one of the more innovative use cases for blockchains. The ability
to have digital ownership, while simultaneously reshape how businesses and culture go together, is a
combination that is primed for social changes. As the Solana market gets more efficient, it seems that
the conversation has gradually shifted in web3, from honouring royalties to making it only optional. Below
here, we recap the conversation and the moments in full.
The Innovation Spark
Innovations in NFT Trading have brought back the conversation on NFT royalty fees for artists. Given
that Solana’s NFT activities are a lot more vibrant than Ethereum, such debates held a broad reach
within the ecosystem.
What’s innovative about these new protocols is their ability to make NFT-Trading more liquid, and a lot
more trader-friendly. Users/projects can create a trade pool AMM-style and let traders ape in and out of
the collection without fear of high volatility and illiquid action. The prime example of this is HadeSwap.
With HadeSwap, artists/users can deploy the collection as LP with concentrated liquidity. Rare items
will only be triggered at specific sections of the price curve.
Another model to this was an order book style, pioneered by TensorHQ. Instead of AMM, the NFTs
essentially are deployed in an order book fashion. Buy-side and sell-side will match for instant liquidity,
as well as price discovery.
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While innovation is generally considered a positive thing, royalties for NFT transactions on these platforms
are also not enforceable, due to the implementation of the Programs. This is a good thing for
traders, especially in a bear market where the royalty fees eat up traders’ profit margins. The roll-out of
the product has enticed a lot of NFT traders, with examples that can be seen here, and here. Comments
from others, as can be seen here, shows that progress in this direction is inevitable, given that NFT is
essentially a token, to begin with, and can be enforced and modified as such.
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On the other hand, this goes against the original ethos for NFTs, which allows artists to earn consistently
on their creations. Projects that utilize and mint through Metaplex Auction House still have royalty
fees enforceable in this regard.
The debate got heightened when Dust Labs (the team behind DeGods and subsequently, y00ts) also
went forward with 0 royalties.
This series of events forced Magic Eden, the biggest NFT marketplace on Solana, to make royalty optional
via its partnership with Coral Cubes, as reported by DeCrypt.
The Solana sentiment on these events has been far and wide, and the development that follows seems
very exciting to watch. For artists, some have been vocal about the significant drop in their revenues,
and others have been concerned about the potential of precedence for other projects to follow, and fully
SHILL Issue #83
divert away from the ethos of Web 3. Metaplex also has gone on and affirmed that enforceable royalties
are in the works, and royalties should be protected.
A more nuanced look comes from Anatoly Yakovenko, the Co-founder of Solana Labs. He argues that
market efficiency will mean royalty goes to 0, given that crypto is a lot more economically motivated,
and there are implications for enforcement of ownership at the base layer. The notion of transparency,
defined by code, will signal a change in the definition of ownership, as a third party›s “force royalty”
function during a secondary market transaction muddle with the current definition.
While we have yet to have any concrete thoughts on the matter and maintain our position as a neutral
infra tool, we would like to show full support for the decisions made by projects, especially in a crucial
time like the bear market.
Potential directions, however, seem to be already in the work and are gaining traction amongst the community.
The most notable are Simpl3r and Cardinal Labs (in collaboration with Hyperspace). Given community
backlash, Magic Eden is also hosting hackathons to figure out a possible solution to the problem.
This conversation would be a healthy start to innovations in blockchain applications and initiate experiments
for better business models. Blockchain is a technology for change, like how social media changed
businesses, and should be utilized as such.
What’s interesting to look at is the sentiment on-chain, reflected by the data. Here are some of our findings:
As the first mover of NFT marketplace on Solana, Magic Eden still enjoys its dominance of the market
share. This is reflected by the data on its monthly transactions and daily active wallets.
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Outside of Magic Eden, however, we do begin to see the “optional royalty” narrative taking shape, with
Coral Cube taking dominance over the other exchange options. This is followed by Exchange Art and
HyperSpace, but the scope is nowhere near in comparison to Coral Cube. The movement is most visible
during October, when the conversation actually takes place.
It would be interesting to see how this would play out in the long run, given that the NFT market is
driven by both speculation and art appreciation. The unique selling points for NFTs are ownership and
removal of middlemen, in exchange for the art and culture to prosper. A more balanced model for both
traders and artists is much needed.
NFTs after the Crash of FTX
The insolvency of FTX in the last few days has been eye-opening, and the damage is yet to be accounted
for. Given the early support from FTX on the ecosystem, we anticipate major changes from
participants as well as resilience from the ecosystem. All of this will be discussed in greater details on
part II of the series.
SHILL Issue #83
Thought I would give this a blast a thread about my Solana journey, how I got here, the good, the bad, and what I
have learned. Also can’t believe I have been here so long #particlesbounty #SolanaJourney ….
My journey starts back in 2021 (Jesus), I had heard of NFT’s and was intrigued by the concept. I start doing a little
bit research into crypto and how it worked. I was scrolling on Instagram when I came across an add for Moon
Boyz, an NFT on ETH (major red flags now) …
I downloaded discord and started my journey. Big, hyped mint, got WL, won a free NFT, was loving it, then price
dropped after mint straight away, problems with team members and the time never been right for marketing,
finally it clicked it was a pump and dump,
When I tuck my rose-tinted glasses off I realised it was a scam, (the team had even purchased Google adds to
hype the mint) nothing happened and the community eventually tuck over the project. I did however win so usd
from the project and decided to investigate solana
Gas fees where the main reason I made the move. I came across a project called bounty hunters, via a mate from
Moon Boyz. I minted and loved the community (still solid community). I became a DAO council member, to be
more involved. After some time, I stepped down from the council as had managed to get a MOD job with crypto
straps. A project that offered unreal ROI with their coin, when it came apparent that of it sounds too good to be
true it is, I left for a loss. I again had a wakeup call that most of the time it is.
I was put on to particles from another ex-council member and have never
left. The community is strong, and all are in it for the art. From some bad
experiences I have learned community make a project what it is. And if
your in it for the art you will not go wrong.
The best thing about the art 1/1 scene is you go for what you like. You’re
not in it for the illegitimate promises you get sold. 1/1 art and particles is
my safe place. I have met so many amazing people here, and throughout
my journey in the space and learned a lot of valuable lessons. I am always
up for giving things a go (trying to improve my skills, art, coding, learning).
And only ever invested what I’m prepared to lose. Interacting with
like-minded people and learning from them keeps me here.
SHILL Issue #83
What is Sorcies?
Sorcies is a collection of 7,777 unique Solana NFTs looking to Build a Better Tomorrow. Sorcies will build
themselves as a community-focused PFP project through a combination of branding, fashion, storytelling,
and game theory.
Holding a Sorcie will grant you access to many benefits including, but not limited to:
A community created through love and the goal to Build a Better Tomorrow.
An exclusive Fashion Brand.
Exclusive storytelling campaigns.
A stable influx of Sorcies’ token, Soranium ($SOR).
An opportunity to help write history by creating an empire that will become a dominant force within
the NFT ecosystem.
Building a Better Tomorrow.
The Sorcies beliefs can be summarized with one phrase “Building
a Better Tomorrow”.
Sorcies was created with one goal in mind, to Build a Better Tomorrow.
“Build a Better Tomorrow” has taken the role as Sorcies’ vision statement
and is a direct manifestation of Sorcies’ goals and beliefs. What does it
mean? Every day should be better than the last. Sorcies is here to better the
ecosystem for YOU and EVERYONE who is involved in web3.
“Building a Better Tomorrow” means two things -- improve the quality of the
ecosystem, and create a better future for our holders by providing real value.
The Sorcies brand will start out by building on Solana, but eventually,
the Sorcies brand will be recognized across all chains,
What is a global brand anyways?
In the eyes of the Sorcies team, it’s an idea that anyone can get behind, and believe in. It’s a symbol that is recognized
by individuals across the globe. It’s something that you WANT to represent.
How will Sorcies create a global brand?
A key factor in creating a brand around Sorcies is the art. The Sorcies minimalistic style of art should be appreciated
by everyone. It’s simple, fun, and easy to understand. The art used for NFTs, graphics, logos, clothing, etc.
will always stay consistent and unique because consistency and uniqueness will instill a sentiment that will lead
to global recognition. Sorcies will reach global recognition by deploying a top-of-the-line fashion brand, hosting
IRL and digital events, curating unique marketing campaigns, and becoming the catalyst of a Better Tomorrow.
Why do Sorcies need to create a global brand?
Branding helps us acquire, but more importantly, retain investors. With strong investors comes a strong community.
With a strong community comes desire. Desire to join the community and become a strong investor. This
cycle will grow exponentially as the Sorcies team works to create a Better Tomorrow.
Limited, Top-Dollar, Unique, Designer. The 5 words Sorcies will base their entire clothing line
around. Sorcies’ clothing items will become your favorite wardrobe piece.
Why a Fashion Line?
Sorcies are going in a different direction when it comes to “merch”. Sorcies’ fashion line will be a consistent
clothing line that acts as a pillar of support for the Sorcies brand and will supply web3 users with all their clothing
Fashion and NFTs are very similar in the way they are both an expression of your imagination because they are so
similar, Sorcies strives to become the gateway for fashionistas into web3.
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Consistency is key for the Sorcies brand, and this also
applies to the fashion line. Sorcies will have consistent
drops every X weeks/month (TBD). The items included
in each drop will be carefully picked and designed by
designers, as well
parties. Each drop
will include a multitude
clothing items as
well as the occasional
This allows the
Sorcies brand to
release a variety of
designs and items
to make sure everyone
can find something they love on their journey
of Building a Better Tomorrow.
Sorcies’ native token, Soranium ($SOR), will create
the economy within the Sorcies community. The
value is decided by the people.
Sorcies’ native token, Soranium ($SOR), will be a utility-based
token and help create the economy within
the Sorcies community. The people will decide the
token’s value based on their valuation of its utility.
$SOR has no economic value and should not be considered
Inflation & Deflation
New $SOR will be minted strictly through training
(Staking). Sorcies will earn 10 $SOR for every day their
NFT is in training. Staking multipliers are available to
increase your daily rewards (Read “Rank-up System”
To create a stable economy, $SOR will have
many valuable use-cases, such as:
Fashion Brand - Spend your tokens on exclusive top-ofthe-line
clothes and accessories.
Rank-up System - Spend your tokens to upgrade your
Sorcies and eventually reach Ascension (Read “Rankup
Raffles, Auctions, & Mystery Boxes - Spend your tokens
for a chance at a plethora of valuable items including
NFTs, Tokens, WL Spots, Exclusive Collab Drops, and
More to be revealed soon...
Sorcies will all start out as Travelers. As you spend time
training and learning at Sorvale (Staking), you will have
the opportunity to Rank-Up your Sorcie, which will
result in many benefits!
Here is a brief rundown on the Sorcies Rank-Up
Travelers earn 10 $SOR per day.
Travelers can use 300 $SOR to upgrade to an Apprentice.
(30 days worth of training)
Apprentices earn 12.5 $SOR per day.
Apprentices can use 500 $SOR to upgrade to an Elder.
(40 days worth of training)
Elders earn 15 $SOR per day.
Elders can use 900 $SOR to upgrade to a Master. (60
days worth of training)
Masters earn 20 $SOR per day.
Ascension comes next...
Soranium’s starting supply is 0.
Soranium’s maximum supply is 25,000,000.
There will be 3 halving events to reduce the amount of
$SOR that is entering the ecosystem.
Halving Events TBA.
Each halving event will reduce $SOR staking rewards by
Sorcies will strive to build a strong, loyal, and
devout community. This will include a community-ran
DAO with elected Board Members to
help build the gold standard of web3.
A strong community is the foundation of every single
successful project. This will be the case with Sorcies.
Sorcies will support and help build its community starting
on day ONE.
Sorcies’ community should be seen as a family-friendly,
safe space for anyone who has an interest in Sorcies.
Sorcies’ community members should benefit through
exclusive alpha calls, whitelist opportunities, networking
opportunities, and much more.
Decentralized Autonomous Organization (DAO)
Sorcies’ DAO (SorDAO) will be an exclusive group that
is only accessible if you own a Sorcies NFT.
The SorDAO will be primarily run by the community,
and the community will elect strong members to become
the DAO Board.
More info will be released as we get closer to the
launch of the SorDAO.
The Sorcies community
place for everyone
-- web3 investors,
The Sorcies community
a social hub where
come together to
bond and build
The Sorcies community should consist of members
who believe in Sorcies, and who will provide their honest
opinion to help us Build a Better Tomorrow.
SHILL Issue #83
Popheadz first was a 1/1 art collection being sold
at auction, now they aim to bridge the gap. Merging
1/1 art with its higher quality and attention to detail
+ 10k collection. Plus all the benefits and bigger
along with it. Emphasis
to elevate the
types of things a
pfp collection is
capable of. Using
its art and culture
They have not yet released an official roadmap it
should drop any day now with a mint date of November
11th fast approaching. There are still lots of
facts and speculative details to be gathered around
twitter and recently recorded AMA's with the team.
After more time and research than I even want to
admit, this is what I have found:
This project overall has many different aspects.
-They are building a Metaverse of sorts called "Neo
SOL". HOlders will have avatars and be able to
function within it but it will not be a traditional real
estate type Metaverse. Full details and infrastructure
are still being decided.
-Brand building and plan to launch products like
toys, books, and merch. The merch itself will be
available almost immediately after mint. Thats pretty
exciting considering some of the wait times we
have endured for other projects. Also included in
this list are Digital Products available for purchase
I watched several videos and animations on how
they are putting these pfps together. When they say
they want to elevate a generative pfp collection that
is underselling it. The time and effort on each piece
is absolutely crazy. I suggest taking the time to look
over tweets and art reveals to get a sense of it for
Overall I would say a lot of this is still incredibly
vague. My guess is there is a much more solid
plan and idea in the works. Really looking forward
to the Roadmap/Whitepaper. Mint was slated for
mid September, but the team has been forthcoming
about art delays and amount of work being put into
pfps. Now with the solidified date the information
in regards to the
One thing that
has me looking
forward to this
one is how very
the Solana Artist
community is for
the mint. Even
the most pessimistic and picky Artists I know are
talking about it.
The potential is huge if executed correctly. I hope
that the time and effort put into the art itself translates
into the scope of the business end as well.
-Artists involved have a vision of a full creative studio
available as a revenue stream. They are basically
building it while building Pop Headz. Allowing
their projects needs to dictate how and what to build
that will be essential to a successful digital studio.
-There is also mention of some type of game and
helping onboard people to Trad-Fi
106 SHILL Issue #83
ONE is the NFT collection released by Backpack,
an upcoming cross-chain wallet that functions
like an operating system.
Backpack is a new way to conceptualize NFTs
and crypto, as everything a user interacts with
will be in the same place and NFTs can become
executable (xNFTs). Staking, selling, sniping, analyzing,
chatting, can all be done inside of Backpack.
This ease of use is a very natural progression
of the space for a more user-friendly method of
operating. I am confident Backpack will make
waves in the whole NFT and Web3 ecosystem,
even beyond Solana.
Team/Devs: the team is clearly competent, as
they are about to shake up the entire space with
The team is also very active on Twitter and responsive
to its community in Discord. However, it
is a bit unclear if the team is capable of smoothly
running an NFT community, which tend to be extremely
demanding and fast-paced.
Art: art sneak peeks are not available, but from
the profile picture on Twitter, the art appears to
be PFP-able and well-done. Three stars was
given as a default.
Achievements/Potential: as stated previously,
the potential for Backpack is nearly infinite. However,
this does not necessarily equate to success
in the NFT project itself. The success of the
actual NFT project will depend on the economics
and how it is connected to backpack, community
engagement, and the team's ability to leverage
Though it is unclear what the actual utility of the
NFT is, it is definitely worth getting an access
code in my opinion. This is based on the fact
that Backpack has the potential to change the
space for the better if it is adopted, and because
it solves so many problems and increases convenience
massively, I have no doubt that it will
Community: the way to obtain whitelist
for the project is to get an access code,
either from community events or from
guessing the AI prompt of a displayed
image. Both of these ways are engaging
and fun for some users, but somewhat
ostracize people who do not spend much
time in Discord.
Again, it is unclear how the community
will be leveraged in the progression of
Utility: Backpack is one of the most innovative
ideas I have seen since joining
the space many months ago. It truly has
the potential to change the way we interact
with our NFTs and communities and
make it easier to onboard new users. Additionally,
it has a very clear implementation
for mobile devices, which is a necessary
step to adoption.
Competition in the market is important and I believe
Xcorp is ready to compete. Recently we’ve seen
Liberty Square’s mercantile make some big moves
in terms of intention to integrate the importance of
fashion in Web 3.0 Culture.
Xcorp looks to be a promising competitor in this
field. Xcorp plans on building pretty premium merchandise
that can be worn in the real world without
looking corny or obviously NFT/Crypto native.
Beyond this I think they want to keep integrating a
lot of fashion culture into Web 3.0 culture beyond
better quality clothes, designs and so on.
• Decent marketing, could use some more activity.
• Art for the NFTs themselves is pretty dope.
• Connected to the culture.
• Actually advancing the space.
• Rev share to holders on their services.
I’ve seen some leaks of really dope ideas they’re
considering producing such as Anti-Dox hoodies
similar to the BAPE zip up style.
I’ve also heard some kudos from trusty people such
as Marc Cooler who called it the comfiest/highest
quality merch he had received to date.
Beyond this I’m unsure if there’s any more ambitions
as the roadmap is ambiguous as per standard
• Kudos from public figures on their goals already.
• Vocal-ish and active team.
• Website not up (in development)
• Lack of background on the team’s experience in the industry.
• Pay to mint and pay for merch potentially?
• Roadmap is ambiguous, I want some more juice even if it's
• Legal issues with rev sharing the profits from services.
• Lack of community inclusion in the roadmap
Overall I’ll probably mint and I think those who don’t will
likely end up buying a piece of merchandise from these
guys anyway; I'd assume at a baseline they’ll have discount
codes so you’d probably come out on top long term.
I also just want more competition in this market and I think
it’ll be dope to see merchandise suppliers popping up and
working to move fashion culture into the space.
There’s a lot of goals and ambitions behind this project
but ultimately it seems very deliverable. They
have a huge team of staff with solid backgrounds in
this space alongside a deep understanding. Alongside
this they’ve got a list of notable investors already.
All in all, this project is rooted in a deep level
of understanding of this space, but taking things to
a professional level. Litepaper.
On top of this they have very solid art that will gel
well with the current metas of the ecosystem.
But what are they building?
There is a lot more depth to this but it will take too
much space to break down, check out their Litepaper
for full breakdown of mechanics and versions.
• P2P Solana-Fiat trading, goal is to allow people to
trade nft’s through the use of paypal and bank transferring.
Pretty dope for onboarding rookies.
• VispX Launchpad access; via the Executive Lounge,
all holders gain exclusive access to token offerings
on any VispX project.
There’s also a bunch more bits n bobs across the 3
phases of the roadmap, all in all very stacked team,
very well funded, very primed to build some incredible
• Stacked team and well funded.
• Good art
• Clean interfacing for their products.
• Already delivering things pre-mint.
• Rewarding holders throughout the roadmap.
• Onboarding Web 2.0 options of purchase.
• Tapped into the ecosystem
Glad you asked, they’ve got five core features now;
• Review aggregator, allow content, such as this doc,
to be posted into one discussion board of upcoming
and existing projects. UI and previews look clean
and well done.
• Community building tools; Live already. These being
Quests, a primarily marketing focused tool, Holder
Directory, allowing communities to use the platform
and have members recognised by the NFTs they
have and make profiles and Holder’s Map, allowing
holders to pin their country/location for a global map
of all holders!
• Quest Borrow, allowing holders to access uncollateralized
and collateralized lending via a marketplace.
• I want more Twitter spaces, wanna hear the
passion and the reasoning behind this stuff for
the team themselves.
• Bit lacking in the marketing department for the
sheer amount of crazy stuff they're producing.
• Private funding raised, is there a need for the
For me this is a huge mint, I think there’s just so
much to gain that the risk is likely entirely outweighed.
It’s also uplifting content just like this doc
you’re reading and will allow people to get tipped
and paid for things like this, will lead to better content
and more incentives for intelligent discussion
SHILL Issue #83
Due to the FTX/Alameda situation $SOL has crashed over 50% in the past week and fears have risen that the price of
SOLANA, as well as the Solana ecosystem, may never recover. Here is everything you need to know about the situation.
To be clear, Solana will need to overcome some huge challenges if the ecosystem is going to survive, so let’s start off
with a look at what those challenges are.
FUNDING: Everyone knows that Alameda/FTX were huge supporters of Solana. As a result, they invested in and advised
many projects native to the ecosystem. This is a problem now for two primary reasons.
First, any tokens received from investing in those projects will almost certainly be sold off as FTX/Alameda have declared
bankruptcy. Second, any projects holding treasury funds on FTX are now without that funding to continue development.
WRAPPED ASSETS: Many protocols support wrapped versions of non-native assets such as BTC and ETH to allow for
their use on Solana. One of the top providers of those assets, Sollet, held their backing with FTX, meaning those assets
are likely now backed by nothing.
SELL PRESSURE: FTX/Alameda were massive holders of SOL, with a leaked balance sheet valuing their position at over
$1.1 billion. At least some of that position belongs to the massive amounts of SOL we have been watching be unstaked.
Whether some of this SOL has already been dumped or not, there is certainly a large amount left to be liquidated.
While there is a possibility of it being sold OTC, it is absolutely something to monitor before making any decision to
invest or not.
DEFI: Solana’s defi TVL has decreased by over 50% this week as asset values crashed and users withdrew from protocols
amidst the chaos. With defi being a driver of on-chain activity, this is not a good sign.
While all of these are serious challenges, there are still some positive factors to be aware of that could help Solana to
rebuild and possibly even one day emerge stronger from this incident.
The Solana team did not lose their funding. The co-founder confirmed they held no assets on FTX and still have ~30
months of runway under current conditions. In crypto, 30 months is plenty of time to turn a project around and make
some major moves.
Prior to this event, Solana had been seeing some impressive growth in several areas. The number of validators is increasing,
the chain has 11.5 million active users, network performance has been improved, and the number of devs
building there has grown rapidly in 2022.
Solana has also been making a name for itself in relation to NFTs, as the chain has grown quickly this year to obtain a
large volume of secondary market NFT sales.
An interesting factor to consider is that Solana may be better off without FTX/Alameda once everything settles down,
as more and more information is being revealed about just how bad of players they were in the crypto space.
Last, and perhaps most importantly is the community. If the ecosystem is going to survive this, then users will need to
remain active and teams need to keep building.
So far, most projects have promised to keep going, but it will be important to watch metrics such as active users and
social activity as we progress.
HOWEVER: The contagion from FTX/Alameda is not over. We will almost certainly see more companies/platforms/projects
being revealed as insolvent or missing funds in the coming weeks. As this takes place it will likely affect the price
of SOL and the crypto markets in general.
With that in mind, if you believe in Solana long term, while you wait for everything to settle down it could be a good
time to be doing research into what projects are still devoted to building there and have potential if the ecosystem
126 SHILL Issue #83
The Artful Aaron