SHILL Issue 102

SOLANA NFT/DEFI/TWITTER ECOSYSTEM
What we are
solpixdao
valley of death
saintmary_
degods on
$eth
waleswoosh
under
the
umbrella
solcityradio
recent buys
anonyra
ISSUE #102
◎0.25
liquiditycrisis
glennhodl
& MUCH more

4 6
12
16
18
32
37
FROM THE EDITOR
Under the Umbrella
Recent Buys
16 Liquidity Crisis
Editions
32 Catalina Whale
37 Valley of Death
ISSUE
102

104
109
116
123
156
104 SolPixDAO
109
DeGods on $eth
Bigger Problems
123 Creative Corner
156 DAMReality
younes

Issue 102
Issue 100 is still available from https://www.hel.io/pay/6414f59004805be4067bdf03 - a milestone issue that
will never be listed on the Yumpu page.
Fantastic to see #DAMzine still pumping away on the monthly NFT theme drops. #DAMReality is now live- a
preview of some #Reality nfts are in this issue to wet your apetite! Lowbrow and SaintMary have teamed up
with a new project "Reimagining of Saint Mary" calling on the women of Solana to submit a piece of art by
April 10. This one is surely going to be one to look out for. (see advert on page 7 of this issue)
NGL, this week was HARD putting this issue together. Formfunction's closure meant that finding #Editions
and 1 of 1's came mostly from ExchangeArt. The problem was that for most artists out there, they still hadn't
transitioned. This last week of March 2023 had slim pickings across the board. It was only at the end of the
week that new pieces starting popping up on Exchange and I had to spend hours sifting through the pieces.
Quite a few animated pieces out there and, even though #SHILLzine can place them in the mag, the extra work
entailed is not viable (copy the animation, transpose it to mp4, host it on Vimeo, insert into magazine).
What does it take to put #SHILLzine together? Passion really and a sense of helping the community gain
exposure when the majority of the "noise" out there is focussed on major pfp projects. Pixeltoy spends around
24hours/wk putting each magazine together, promoting via Twitter, hosting on Yumpu. Yes, there are costs
involved. Yes, there's no return- other than the daily tweets from #Solana artists thanking #SHILLzine for the
exposure and new eyes on their work.
How can this be improved? Retweeting. Pure and simple. The more #SHILLzine is retweeted, the greater the
reach. More eyes.
Your support via retweets helps #SHILLzine reach a broader audience. Every retweet is greatly appreciated. It
has helped this magazine achieve 668,303views across 101 issues (previous week = 662,946 ).
#SHILLzine still has pieces listed for auction. Every purchase helps make this magazine worthwhile. Listed on
both FF and Exchg. UNDER THE PRICE OF A COFFEE! Proceeds go to helping this magazine grow and become
better. All the World's a Stage is live now https://exchange.art/pixeltoy/ and now on @0xBanana MARKET .
SHOUTOUT of the YEAR goes to the creative genius of @RedRabbitCult who minted a limited edition full length
NFT song including 50+ #Solana tweeps who have helped shape the space. RedRabbitCult #SHILLzine (Pixeltoy)
is honoured to be included in this piece (damn stright I nabbed it!). "Pixeltoy couldn't do it without ya"
Pixeltoy
The is definitely one your gonna
wanna vault before burn,
my community inspired song
“Solana gang”
50+ frens tagged below in order
of appearance in the song
https://twitter.com/RedRabbitCult/status/1639464688105955329
Solana Gang

SolCity Radio is the hub for all those who create and appreciate art,
providing entertainment and educational content while actively
uniting communities under one umbrella.

Breaking down the creative process
Creating from pain & discomfort can be quite
challenging to navigate. But by recognizing the
darkness we will reach the brightest of places
together.
Toonies
Tune into a deep dive with No Legs from Toonies
& learn how it all started and where it's going!
One Dope Kids
Listen to ODK's founder and creator Lyko break
down his creative process, vision & the origin story
of One Dope Kids.

@Always_Oblak
4977 followers
From art and music to gaming and sports, NFTs
have been disrupting industries and empowering
creators consistently as a way to do things
differently.
It's incredible to see how far we've come and
how much potential there still is for Digital
Collectables in the future.
@Ryd3rSol
7183 followers
Stay Convicted
My humble opinion is a lot of users
forget how many DeGods holders actually
like the Solana ecosystem & tech
Holders of multiple will likely take
short-term profits and reinvest in their
favorite endeavors here on the Solana
blockchain, increasing liquidity

EYES ON
ANON
CyberPunks
Secret Sphinx Society

B R ID G 3 by A n o n yra
Written By Anonyra | BRIDG3
Next to updating the art pages I will also share newly collected art here on my blog. These will be mainly visual
posts as variation on more wordy blogs. This site is after all about art.
Although of course all art I acquire is cherished, I will make a careful selection of pieces here and not share every
single work. This so this blog gets space to breath and is not too stuffed or overwhelming. Same with my (virtual)
gallery. If you want to see every piece I collect, follow me on Twitter.
Sons of A Gun
The first piece I would like to share is this one by SK00L. An artist I was introduced to via Templarboy’s TL after
12 SHILL Issue #102

which I made a bid on SK00L’s genesis piece. Got outbid on that auction, but a few weeks later I received a thank
you gift as an early supporter. Same day as this gift, Sons of A Gun was up for auction and after a little bidding war I
managed to acquire this piece.
Sharing the above as an example of how connections and sharing your own and other artist’s work, can lead to your art
being collected. Find your own way to get eyes on your work and keep collectors engaged.
The Walk Through Hell’s pit
Stephania/SaintMary is an artist from Bandung, Indonesia. Until recently I only collected a collab piece by her with
Avekno. You can see that piece here under Mixed Media. A 1/1 by Stephania alone was still on my list. So I am absolutely
excited that I was able to collect this beautiful piece.
From the description: “But even when I walk down through the hell’s pit, I know there will be no depth of darkness
where my shepherd does not traverse.”

Stay Gold #13
Highway is a sought after artist on Solana and his Dust series received a lot of praise. Despite bidding I was unable
to acquire a piece by him until now. For me it was quite a surprise he dropped a 77 piece 1/1 photography
series through Collector_sh for 1 SOL. To give you an idea, the current FP for the Dust series is 50 SOL.
One of the many examples where a high profile artist gives collectors a unique entry into his/her work. The Stay
Gold drop was sold out in 7 minutes, so I am happy I managed to get 3 pieces of which this one is my favorite.
Market Waves
We all would love to have a bull market. I love to see artists get all the exposure and SOL they deserve. But bear
circumstances or less desirable events* in this space offer collectors a great opportunity to collect art they love.
Where in a bull market the price could quickly sky rocket or at least a whole lot more eyes are on a series.
I don’t particularly like to use the old phrase “When there is blood in the streets…” in relation to art, but it’s not
far from the truth. Though in my eyes the World of Art is a space of beauty, it is also a market of supply and demand;
every wave giving someone an opportunity. Where both artists and collectors navigate the tides. But the
journey is still very much our own.
14 SHILL Issue #102

@glennhodlNFT
ATTENTION. Solana loans are about to face a liquidity crisis. You need some numbers to help you out of this mess. Read
on to find out more. A data driven THREAD.
-------------------------------- The system. --------------------------------
As if NFTs were not a risky enough asset class, you can borrow Solana against the value of your NFT for the cost of some
interest paid to the lender on settlement. Ok stay with me, this is a bit dry. Let’s learn about ‘LTV’ (Loan-to-value).
The LTV is the percentage of the floor price a lender is willing to lend. To hedge against the volatility of NFT prices, the
lender will offer as competitive a LTV as they dare. The closer to 100%, the riskier the loan (but the more likely to find a
borrower). An example:

pressure = Floor prices going down = More underwater
loans. You see where this is going?
The ensuing panic is known as a ‘liquidity crisis’. We’ve
seen this recently: it happened to
@abc123Community in February, adroitly explained
here by @Mercury_Prime
Quote Tweet
The floor price of DeGods is currently 680 Sol, and the
average loan offered is 71.94%. So if I was desperate
for some liquid Sol to profit from the latest hyped mint,
I could borrow around 489 Sol against my DeGod NFT.
(data from https://loans.monkeybaby.business)
-----------The problem? Volatility. -----------
Normally, if the borrower does not pay back the loan,
they ‘default’ and the NFT goes to the lender. This is normally
bad for the borrower because the value of the NFT
should be more than what they borrowed. Remember
above? The loan was 71.94% the value of the DeGod.
What happens when the price of the NFT falls to less than
what was lent? In this case, the loan is ‘underwater’. The
borrower is likely to simply keep the money, and the NFT
defaults to the lender who now owns an NFT worth less
than what they lent.
@Mercury_Prime
It’s called a “Liquidity Crisis.” And it’s fascinating to
watch one play out in real time. I’ll explain it, give
some real world Wall Street examples, and talk about
it in the context of a specific NFT. I’m speaking, of
course, about @ABC123Community.
Show this thread
A whole bunch of underwater loans. = A lot of selling
16 SHILL Issue #102

---------------The state of Solana NFT loans. -------------
Using the excellent tool built by @MonkeyBabyBiz we can
see the state of Solana loans in real time. Spoiler alert: it
ain’t good. (Graphs compiled by me from data taken from
https://loans.monkeybaby.business).
so many loans were taken out against them. Whatever their
long-term prospects, there is likely to be some short-term
pain for Clayno price action, as all these NFTs are defaulted
on to lenders now out of pocket.
---------------Conclusion: fear and opportunity. ---------------
Yes, the state of Solana loans is, by these measures, decidedly
rocky. However, where there is fear, there is opportunity.
For those waiting for a good entry to some of these
projects, this will represent a fantastic discount.
I think it’s called bUYiNg ThE FeAR As ever, for the savvy
trader there are profits to be made. All you have to do is
look at the data.
As you can see, in terms of pure percentage terms, a
number of collections have a significant burden of underwater
loans. Time to look away holders of @DuelCasino, @
TaiyoRobotics, and @Claynosaurz.
They all have over 50% of their loans underwater.
Dig a little deeper, however, and the pure numbers are
more revealing. Again, data from SMBB, graph by me. In
terms of sheer numbers, Claynosaurz are the clear outlier
with 340 underwater loans at the time of writing.
Many are extremely bullish on Claynosaurz, which is why

Fransmigrasi

Pixeltoy

Pixeltoy

Pixeltoy

SCUM

SCUM

Pixeltoy

Sirius Crocodile

Tsunami031

lukexdod

destroystairs

@mr_tldr
Twitter: @catalinawhales
Official Links Website: https://catalinawhalemixer.com
Secondary Market: https://magiceden.io/marketplace/the_catalina_whale_mixer…
Overview of Project: https://medium.com/wagmi-beach/catalina-whale-mixer-the-blueprint-f4bb54ec5f25…
Discord:discord.com
What is Catalina Whale Mixers and what do they do?
CWM are an NFT collection that is IP centric and focuses on building as much use case as possible on top of their
brand. The brand is the first product that was produced by @WAGMIBeach.
Led by @MR_George and co, the team has loads on experience and connection in the entertainment industry
and since their launch, they have been able to attract big name players to join their community.
Project Blueprint
32 SHILL Issue #102

What are some of the tools in their ecosystem?
1. Catalina DAO 2. Whale Records 3. Portal 4. Wagmi Beach
Catalina DAO
@CatalinaDAO is the official DAO that is responsible for overseeing the governance of the project. The goal of the DAO is
to facilitate the communications between the team to the holders as well as align the interests of both parties.
Quote Tweet
@CatalinaDAO
GM. We interrupt your regularly scheduled programming to bring you an important update from the CatalinaDAO
Whale Records The music production house of the project that has recently had their Virtual Music Group, The Whales
signed to @defjam. What does this mean to the holders?
Quote Tweet
@catalinawhales
Introducing… The Whales, a gamified avatar music group,
with @DefJam and Universal Music (@UMG) Making
hit records and penetrating pop culture with @CatalinaWhales
community Built for mainstream adoption on
the @Solana blockchain @Billboard: https://billboard.
com/pro/def-jam-signs-virtual-nft-band-whales-major-label-web3-deal/…

Holders now have a chance to get their whales to be the face of The Whale. Chosen whales will be given a licensing deal
and get paid.
Quote Tweet
@catalinawhales
Introducing The Whales, an avatar music group created with you and for you. Penetration has begun. @defjam @
UMG @solana
To be eligible, the holders must have their Whales staked and purchase a trait pack that will be releasing soon to customize
your whale to be the best looking version. Read more about the partnership here:
Quote Tweet
@catalinawhales
So… what exactly are The Whales? A Virtual Music Group signed to @defjam. Your customized Whale as the face of
the group Hit music by A-list writers producers & artists Have Your Whale selected to be in the group, manager, groupie
& more Keep reading for FREE WHALE

CWM have also partnered up with @saydialect to make wallet messaging within the dashboard possible.
Quote Tweet
@catalinawhales
Portal Update just went live! http://portal.catalinawhalemixer.com
Chat w/ @saydialect using wallet
to wallet messaging Check out the for other feature/
performance updates while we work on laying the
foundation for the bigger initiatives.
SHILL Issue #102
35

Wagmi Beach
@WAGMIBeach is a web3 native creative technology and entertainment studio developing rich, original IP. Their first
product developed was of course CWM and their second ever venture was with @BubblegooseXYZ.
By holding a whale you will be given the chance to be able to mint projects that are backed by
@WAGMIBeach. In the past, whale holders were given free mints to @BubblegooseXYZ just by delisting and staking their
whales.
Future Outlook
There are still much more room for building by CWM, such as Whale Television, Big Whale Energy and Beached Whales
that are pending more announcements by the team. By holding a Whale, you will be eligible to be part of their ventures
that is yet to come.

SaintMary_
This is my recent study, a visual journey in which I explore the story of death by embracing all lights to illuminate
the shadow of the death until the very end. 5 stories included but let me put it sharp & short.
“Let The Clouds Dwell Upon It” first painting about the experience of dying. [owned by @sp_Aceee]
SHILL Issue #102
37

“Fear No Evil” 2nd painting about believing in such power that illuminates all fear of darkness. [owned by @wetikos]

“The Walk Through Hell’s Pit” 3rd painting about entering the darkness - valley of the shadow of death. [owned by @
anonyra]

“The Final Judgement” 4th painting about the judgement day. [owned by @LennyBlankPage]
40 SHILL Issue #102

“Swallowed Up In Victory” THE LAST painting about winning. The end road is where the death is swallowed up in victory.
Minted on @exchgART- To be announced soon.
LINK TO SERIES:
Valley Of Death | Exchange Art

1. @WolfCapital_
2. @FamousFoxFed trans
3. @FamousFoxFed
4. @Dworfz
5. @oogyNFT
1. @Claynosaurz
2. @y00tsnft
3. @oogyNFT
4. @DeGodsNFT
5. @FamousFoxFed

Damzine

Damzine

0161cassius

0161cassius

0xBanana

0xBanana

0xDvnimal Studio

0xDvnimal Studio

ActMove

AmeT

AmeT

Artcons9

BadGnomen

BadGnomen

Art Pardini

CyberArts

CyberArts

Degen

Degen

arcmikkelsen

arcmikkelsen

CultureHacker

DavidLoh

David Loh

Destroystairs

DestroyStairs

Dmitry Martovsky

DrRobo7

Dragon88

Dragon88

EmilyMReay

Hersoid

Justprostokir

Justprostokir

Justprostokir

Guskala

Justprostokir

La Machine

Kenva

Layo Agbaje

Layo Agbaje

eyeeyemouth

eyeeyemouth

freks Xpress

granuled

KingKemba

KingKemba

dreamingdigitally

littlebirth

Lotus Josephine

Lotus Josephine

lordhenry

Mhboub_nft

MGSkullz

@solpixdao
What is @solpixdao?
An exclusive DAO dedicated to the empowerment of the Solana community with best rewards and best ROI a
web3 ecosystem a multi-layered and multi-chain business a place of high moral standards a network of project
leaders ...
We want to build, innovate and bring value to the ecosystem and to our holders. We are focused on building
multiple revenue streams and on becoming a multi-chain company. We offer project to project services, in-house
made tools and benefits and utility to our holders.
104 SHILL Issue #102

Through the Solpix INCUBATOR, we have helped other NFT projects to survive the bear market, we de-rugged several
projects and turned them into profitable businesses and we also facilitated DAO takeovers giving control and value back
to holders.

We have built several ALPHA TOOLS which allow us to generate incredibly profitable and successful calls which we share
with our holders through our platform. -> https://app.solpix.io
We have also built several Discord tools, so that we can offer our calls to other servers and empower other communities.
Always focusing on strong teams and looking for long term investments. Quick pumps and dumbs are just not our thing.
Our tools are in more than 20 servers...

We have 2NFT low supply collections out already and are working on the third, with limited supply of only 88. The Solpix
DAO NFT is the most valuable. It offers revenue share from the entire business and gives voting rights. The art has been
recently upgraded too.

The second collection is called Vengeance. Created from a RUG, we brought the FP from a few cents to over 3 Sol. Holding
gives you several benefits, including access to our platform and profit share from the Solpix fund. Who doesn’t like
passive income?
Our upcoming collection is called Titans. 100% of the mint funds will be injected into the utility. The aim is to create yet
another NFT, which will generate sustainable passive income for our holders. Limited supply of only 88!
We also offer a great reward program for all our holders, distributing 100s of $ every week. All you have to do is being
nice to the community, share ideas and support us on Discord and Twitter. If you like winning free Sol in rumbles, that’s
just a bonus!
108 SHILL Issue #102

Waleswoosh
On March 31, the DeGods NFT collection will bridge from Solana to Ethereum.
Already on Monday/Tuesday (depending on the time zone you’re in), y00ts bridged from Solana to Polygon. With great
success: Within 10 hours, close to 50% of the collection was already bridged to Polygon.
The total supply of y00ts is 15k. 6k have been bridged to ETH within the first 10 hours - Source: magiceden.io
As of now, there are 11.5k y00ts available on Polygon which means less than 2k remain on Solana for now.
This is a success, since each holder had to bridge their y00ts themselves. The same will be true for DeGods. Every holder
will be responsible for bridging their DeGods themselves.
But this newsletter will not be about the technicalities of bridging, but rather about the overarching impact on the market.
To do that, we’ll look at three areas: Risks, opportunities and predictions.
1. Status
DeGods are the #1 collection on Solana. Undisputed. They are what BAYC is to Ethereum - perhaps even more so. Because
while Cryptopunks are still a real competition to BAYC, DeGods are pretty much unchallenged on Solana.
If you’re the BAYC of your blockchain, there are benefits. Lots of good sentiment (think “never fade Yuga” but on Solana)
and the concentration of attention.
However, on Ethereum, DeGods will no longer be number one. Judging by the current floor price, which is the equivalent
of around 7 ETH, DeGods are somewhere between the mid-cap collections like Moonbirds & CloneX and the large-cap
collections like the aforementioned BAYC and Azuki.
DeGods are breaking new ground:
Frank² @frankdegods
Our community should have zero sense of entitlement on Polygon or ETH. It’s ground zero. Let’s prove ourselves
again. y00ts² DeGods III
2. Legitimacy
Earlier this week, I addressed the risks and opportunities of y00ts bridging to Polygon in a Twitter thread:
wale.swoosh

I had identified as a central risk something that will apply in this way to DeGods too: In order to give legitimacy to the
collection on the new chain, as many DeGods as possible need to end up on Ethereum as quickly as possible. In other
words, as many holders as possible need to bridge their DeGods quickly.
For y00ts, this worked. But will it work for DeGods as well?
I’m sure that DeLabs, the company behind DeGods and y00ts, will have strategies in place to make sure it will. With
y00ts we have seen that on the one hand early bridging was incentivized (0% fees and a BTC DeGod raffle, among other
things) and at the same time not-bridging was penalized (33.3% enforced royalties and loss of all benefits):
y00ts introduced the “Paper Hand Bridge Tax” which results in 33,3% enforced royalties on y00ts sales on Solana after
April 3rd.
Drastic steps, but DeLabs had to take them, since if not enough y00ts (or in this case, DeGods) bridge to the new chain,
then not only can the legitimacy of the new collection be challenged, but trading volume can suffer as well. Would you
buy a DeGod on Ethereum if only 5% of the collection is bridged so far? Many people wouldn’t. Why? Because the sup-

ply can still multiply, price discover is pretty much at the beginning.
The NFT space is momentum-driven. If the start is not good, then this could have very negative impacts on the market...
3. Market
DeGods on Ethereum will encounter a very different market environment than was the case with Solana. Not only is the
overall trading volume higher (see below), but they will also encounter a whole new player that does not exist on Solana:
The Blur marketplace.
Total NFT volume on ETH is significantly higher than on Solana.
No matter what you think of Blur (and I’ve criticized it many times): It has changed the NFT market on Ethereum forever.
Liquidity pools, massive airdrop farming, all of that was completely unheard of in the NFT space before.
Unlike native ETH collections, DeGods will face Blur for the first time.
Positive news is that Blur pre-longed the doubling of bidding points. They were set to end on April 1st which would have
had terrible impacts on the market. These impacts are now delayed until May 1st:
Blur bidding points are currently doubled - Source: blur.io
a) Momentum
Momentum, already written above, will also play a key role. If there are not quickly, many DeGods available on Ethereum,
then the collection could have a lot of negative momentum. Blur is known to amplify momentum on NFT collections
- in both positive and negative ways.
If it is negative, then bid support can collapse, initial buyers on Blur either undercut the floor or accept some of the few
remaining bids, which could trigger the fatal spiral we have seen in many NFT projects in recent months.
b) Mass dumps
Blur also gave large holders the opportunity to dump large portions of their collection into liquidity pools at once for the
first time. Consider the legendary dump of 71 Bored Apes a few weeks ago for example:

Cirrus @CirrusNFT
Someone just dumped 71 BAYC into blur bids for ~5545E ($9,151,000) More volume in a couple transactions than we
used to see in an entire day a couple months ago and the floor didnt move a penny lmao
While these mass dumps are good for sellers, they often have bad effects on the overall market, as mass dumps are often
followed by bad momentum since many airdrop farmers end up with unwanted NFTs. This is something we also saw
in Cryptopunks recently.
Why does that all matter for DeGods? Large DeGods holders will for the first time have the ability to dump tens of De-
Gods into liquidity pools without taking large losses in terms of floor price.
For example, let’s say a certain holder owns 20 DeGods that he wants to sell immediately. On Solana’s #1 marketplace
Magic Eden he would either have to accept 20 offers, which are already significantly below the floor price after the tenth
accepted offer, or he would have to massively undercut the floor, which would lead to losses. With Blur it will be differ-

ent: Dump 20 DeGods for 0.01 ETH below floor price and move on.
That doesn’t mean that it will happen. But the possibility exists.
c) Price discovery
Blur is also a merciless tool when it comes to price discovery. Moonbirds, Doodles, CloneX, all these collections had to
learn this painfully in the past weeks. Moonbirds at 6 ETH was overvalued for the market, there was hardly any demand
outside of Blur airdrop farmers, which led into a downward spiral that brought Moonbirds’ floor price to 3 ETH.
Moonbirds floor price - Source: nftpricefloor.com
This radical price discovery is much more pronounced than on Magic Eden. Will the market price DeGods in at the 7 ETH
where they currently stand on Solana? Or more likely 4 ETH? Or 10 ETH maybe? This brings us to part 2:
The first part of the newsletter paints the situation DeGods finds itself in perhaps a bit too dark.
After all, a world-class collection will enrich Ethereum. A W for the NFT space on Ethereum.
Whether you like DeGods or not, that the #1 collection of another blockchain is migrating to Ethereum is bullish for the
NFT community there.
So let’s take a closer look at the bullish case for DeGods on Ethereum:
1. A new bluechip
The bridging of DeGods to Ethereum first means that a new bluechip will be available in the market.
Whether the floor price is 4, 7 or 10 ETH is irrelevant for now. There will be a new mid- to large-cap collection on Ethereum.
And the demand will certainly be there. While other mid-cap collections have slowed down in recent weeks, De-
Gods will meet a lot of real demand. After all, founder Frank DeGods’ team has done a good job on Solana.
Many NFT collectors on Ethereum will want to own a DeGod. Demand will be there. It’s the supply that will make the
difference.
2. Blur can also be a blessing
The mix of initial high demand and the dynamics on Blur - especially liquidity pools, could lead to a sustained pump.
Bidding walls usually follow floor price. If we see more “real” demand (outside of airdrop farmers) than holders selling
(which is likely in my opinion, especially among early bridging holders as we saw in y00ts), price discovery could make
DeGods a real large-cap project within a few days.
What we have seen in the past is that if a collection on Blur meets a lot of real demand - meaning people who actually
want to hold the NFTs rather than just using them to farm the $Blur airdrop - can lead to a sustained increase in floor
prices. This is especially true for projects that are still in price discovery mode.
Of course, 20, 30 or even BAYC’s 60 ETH is unlikely in my opinion. However, if momentum is really there, I don’t think 10

ETH is impossible.
3. NFTs are an attention game
y00ts have dominated the headlines on NFT Twitter in recent days. Threads, memes, Twitter spaces, there was hardly
any other topic.
The same will be true for DeGods once they are bridged to Ethereum.
In a space like the Web3 space, which is immensely attention driven, this is bullish. Lots of attention results in lots of demand
in most cases. And there is no question in my mind that both will be the case on DeGods in the days after bridging.
There can quickly break out FOMO if the headlines are positive. And even if not: There is no bad press. Not even in the
Web3 space.
So now let’s get to the most interesting part:
I don’t usually like to make predictions. When I do, it is always under the premise that nothing I say or write is financial
advice, but rather my view of things. I also don’t own a single DeGod at the time of writing, so I don’t think there is a lot
of bias.
I’m not always right either. In the last newsletter I had predicted that the floor prices of the bluechip projects would go
down significantly after the Blur airdrop.
In the long run, I am of course correct, here is CloneX for example:
CloneX floor price - Source: nftpricefloor.com
However, floor prices also pumped briefly at the time. What I’m saying is, just take the next few lines as my take on
things. Nothing more, nothing less.
1. Impact on DeGods floor price
Personally, I think bridging will have a positive impact on floor price.
Sure, the expectations are certainly already priced in, but there is little doubt that the demand on Ethereum will be significantly
greater than on Solana.
Many NFT collectors on Ethereum want to be a part of what DeGods is building. Together with the likely small number
of listings (early bridging holders are more likely to be “diamond hands”), this could give a lot of initial momentum and
have a positive impact on the floor price.
Now, Blur has made the NFT market quite unpredictable, but for me there is no question that on the day bridging opens
and in the days after, we will see a lot of trading volume and in my opinion also a pump in the floor price.

I think many people will be surprised to learn that the floor price of DeGods is about 7 ETH, especially since only a few of
the big projects on Ethereum can compete with that.
2. Impact on mid-cap projects
Just as important as the impact on the DeGods floor price will be the impact on the floor price of other mid-cap projects
like Moonbirds, Doodles and CloneX for example.
In my opinion, a part of the holders of these ecosystems will seek the exit to join DeGods. Sentiment in many mid-cap
projects is currently poor, loyalty outside the core community is at an all time low. Capital will rotate into DeGods.
“Real” liquidity outside of airdrop farmers is very limited right now. Even if only 5% of the “real” liquidity rotates into
DeGods, it could have a negative impact on other mid-cap projects.
At the same time, DeGods will attract most of the attention of the NFT space, leaving little room for other projects. In
addition, Blur bids tend to accumulate on the highest volume collections and regardless of whether the DeGods floor
price will pump or dump, there is no doubt that DeGods will do significantly more volume than any mid-cap collection,
probably even more as them combined.
So, all in all, it is hard to find a bullish scenario for other mid-cap projects.
How bridging will affect large-cap collections like BAYC, MAYC, Azuki and Cryptopunks is another story. Blur bidding support
could become less, but sell pressure is also usually also less pronounced. Difficult to make a forecast here.
The bridging of DeGods will be one of the most important events in the history of the NFT space.
There are many risks, but also strategies to counter them. The potential upside on Ethereum is high, DeGods will meet a
lot of demand and will dominate the headlines on NFT Twitter for days.
At the same time, Blur has made the Ethereum NFT market unpredictable - and DeGods is encountering it for the first
time.
Still, I think the bridging will be a success and DeGods will be able to hold at the current floor price and maybe even gain
a little. However, other mid-cap collections might suffer from the liquidity rotation.

@KEMOS4BE
Solana faces a bigger problem than NFT projects jumping chains. The real threat is the massive divide bubbling beneath
the surface.
This thread was co-authored by @slorgoftheslugs.
Despite surviving numerous black swans events, Solana has many advantages over most other chains. Solana is also the
most talked about chain on Twitter, by a large margin. So why does it struggle to break into the top 10? The reason goes
beyond the bear market & FTX.

The problem becomes obvious when you realize that the ecosystem is divided into 2 distinct classes: A minority developer
class, and a majority cultural class that was primarily onboarded through NFTs.
If you participate within the communal square that is Twitter, you typically belong to one or the other. The important
topics of the week are often completely different amongst each class.
For example, most wouldn’t know it - but the hot topic within the developer class last week was an extremely negative
Wikipedia article. The Solana Wikipedia page was being held captive by a cabal of editors who painted the chain in an
extremely negative light.
Quote Tweet
@Austin_Federa
The Solana @Wikipedia page is such a dumpster fire of misinformation
and lies it’s entered parody territory. All the factual, well-cited changes
the community makes are taken out by a few anti-Solana editors, but
we’re working on getting it fixed. https://en.wikipedia.org/w/index.
php?title=Solana_(blockchain_platform)&action=history…
In contrast, the main topic of interest of the cultural class was the 2 largest
projects in the space moving to other chains.

There are less than a dozen people, with reach, who have their foot planted in both realms. Any attempt to bridge the
gap often exists as a superficial gesture, such as when a developer changes their PFP to an NFT project they think is relevant
- more of a wink than an embrace.
Quote Tweet
@thehasheddude
Replying to @thehasheddude @0xMert_ and 3 others
We don’t need more cheer leaders We need some transparency Strategic reorganization And personal accountability
Narrative formation and learning from the mistakes Plowing and forcing through won’t get is anywhere
The developer class needs to fully embrace the loudest voices in the ecosystem — NFT communities. Right now dev’s
often see them as unserious, & treat them with holier than thou attitudes. It is far better to onboard them to a narrative
& galvanize them towards a common cause.
This is evidenced by core Solana leadership assuming these projects are reproducible or can be spun up on a whim. A
strong cultural force like @DeGodsNFT is a unicorn, and doesn’t come along every day. It appears from a confluence of
factors that can’t be mass produced.

Quote Tweet
@aeyakovenko
Replying to @Dave_Kayac @7LayerMagik and 8 others
If it wasn’t clear, the point of the thread is “stop giving af about degods and start building the next 20 that will be at
least as successful as them”
Meanwhile, the current perception of the developer class is that they are ineffectual leaders.
Quote Tweet
@R89Capital
#Solana community is done taking your slanderous lies lying down. The actual leadership on this network may be
softer than a soy latte but the rest of us are not.
In return, the foundation fires back at the culture, expecting them to pick up the narrative where they dropped it. The
cultural class then usually refuses to pick up the ball and leaves the story in no-mans land where it is nobody’s responsibility.
Quote Tweet
@therealchaseeb
Replying to @0xMert_ @vinikloppel and 2 others
Foundation can help share information to the community, but it cannot change the narrative. You’re correct that the
community needs to do this. Coming from foundation is like a large corporation saying “trust us bro”. Trust comes
when word is spread from the user of something
The result is that the narrative becomes reactive rather than proactive. Our public perception becomes defined by
events that happen to us, such as the FTX disaster or the Macalinao brothers larping as 20 different people.

There is an eternal unproductive back and forth, where instead of solution finding, responsibility deferral becomes the
main game being played. Few people are actually focused on creating a functional middle-ground.
Quote Tweet
@R89Capital
Replying to @aeyakovenko @connan_james and 4 others
Solana needs a separate from Labs/Foundation deep pocketed highly motivated entity to pay people to invent and
shill narratives. Basically like Consensys.
“THE DEVS SHOULD DO IT”
Quote Tweet
@Visu0x0
Replying to @R89Capital and @aeyakovenko
Solana (foundation) needs more storytellersz marketers and trailblazers to shape the narrative and tell the world
about all the innovations and cool stuff solana tech enables.
“THE PEOPLE SHOULD DO IT”
Quote Tweet
@0xMert_
decentralized communities cannot (and should not) rely on parent authority for branding and narrative this should be
done by the community, otherwise it’s superficial Foundation can help with funding/grants but it’s us who must do

the ground work Internalize this
Narrative is important because the strongest narrative always wins — though it can be influenced/spawned from new
technology. Ultimately, the narrative is the thing that drives adoption. The best tech doesn’t always win, not within a
lifetime.
Electric cars were invented in 1890. 100 years later (1980’s) the oil and gas industry bought-back and crushed almost all
the electric cars on the market. Vested interests in anti-progress narratives can cripple innovation for decades. Ignoring
this threatens everything.
However, when these two classes come together — we win. At the tail end of the y00ts migration and the Wikipedia
brigade we had a single piece of news that allowed the two classes to converge. It resulted in a resounding success.

Two days ago — @coindesk published a blatantly false article in regards to the y00t’s bridge and Solana’s core tech. The
two sides of the ecosystem locked arms and teamed up so effectively that Coindesk was forced to fix the misinformation
not once, but TWICE.
Quote Tweet
@DegenerateNews
BREAKING: @CoinDesk CORRECTS THE “CORRECTION” - STATES THAT @solana “GENERALLY PROCESS TRANSACTIONS
FASTER AND CHEAPER THAN @0xPolygon” AND ADMITS IT HAD PUBLISHED FALSE INFORMATION
To conclude and expand upon what @Dave_Kayac is saying: We have leaders, we have visionaries, we have developers,
and we have a strong community. The problem is that they are not cross pollinating.
Quote Tweet
@Dave_Kayac
The Solana ecosystem has a lot of fantastic devs, but it needs more visionaries.
There are both individuals and organizations who are very focused on this, with vigor — I suggest following them:
@R89Capital @SolanaCollectiv @SlorgoftheSlugs @0xMert_ @0xNIC0 @Dave_Kayac @thehasheddude @heyjaffa @
zen_llama, @jacobdotsol, and if i forgot you i’m v sorry

WITH SENTIENTSHAPES
Hello again and welcome to The Creative (Writing) Corner. This week I’d like to
introduce you to another literary device. In case you missed the definition or need
a reminder, a literary device is just a useful tool in writing for the creation of a
central theme or trope that allows the author to get their point across. There are
many literary devices that we could define but let’s take it one at a time. This
week we’ll be talking about The Stanza. The Stanza is a poetic device that has
multiple applications. The traditional stanza is the division of a poem consisting of 2
or more lines arranged together as a unit. The stanza can also be lines grouped
together in a recurring pattern of meter, which normally consists of a sequence of
rhyme, rhythm, or slant. (We’ll talk about slant another time!)
Now that you know what The Stanza is and how it technically works, let’s apply
this knowledge to create unique, timeless and consistent breaks within our poetic
cadence. The really cool thing about The Stanza is that every writer has their own
unique perspective on the sounds that words can make together and how to
break them up within the poem itself. In poetry, this unique voice of each author is
called Poetic Cadence, it’s the personality and depth of the Poet themself that is
reflected in the use of The Stanza.
And now you know…it’s time to practice! Let’s use our new knowledge of the
literary device, The Stanza, to write a poem that rhymes with a unique cadence
and rhythm.
1/3

WITH SENTIENTSHAPES
Follow the steps provided and use the stanza in your poem.
Step 1: Get your writing utensils, physical or digital! Now, Choose the topic of your
piece, keep it simple and let your expectations of what poetry is fly out the
window. Sitting at my desk I see many notebooks piled around me. I’m choosing
notebooks for my topic. (See? Don’t make it hard for yourself!)
Step 2: Once you choose your topic the next step is gathering some info. Observe
your topic with an outside perspective and don’t judge yourself.
Let’s go: The paper is soft and beautiful lined in faint blue. The metal rings of the
binding with little paper bits stuck in the edges from the torn out pages.
Step 3: After gathering some information on your topic with your unique
perspective…it’s time to start the first draft of your poem.
Here’s my draft notes for my notebook poem: gently pressed, deckled edge,
metal bent, paper rent, hours spent, ink from pens…
Step 4: Merge steps 1-3 and write your poem using breaks with The Stanza. Break
up your poem in lines of 2 or more and see what happens.
Bonus! Be intentional about which words break your lines and make a new stanza.
A poem can have as many stanzas as the author deems fit. You can even play
with grammar, punctuation and capitalization to make your poetic cadence
uniquely yours.
2/3

WITH SENTIENTSHAPES
THE POEM
You maybe didn’t expect me to be ending the poem making friends
with my notebooks. Notice how I used my draft notes to create stanzas
with a voice that is simply, SentientShapes. Your voice as a writer will do
the same for you. Keep practicing your writing, poetry or otherwise and
your creative voice and artistic cadence will become even stronger.
Send me your pieces with your beautiful stanzas
I can’t wait to read them.
3/3

Pixeltoy

Pixeltoy

Yedai

Pixeltoy

Yedai

Yedai

Pixeltoy

PupeIlustra

PupeIlustra

QueenNina

QueenNina

The Earth Travellerslers

Ris

RowenArt

RowenArt

StephanieFullerArtist

The Earth Travellers

Yedai

misterpatient

misterpatient

theZK_

OzGeth

vuralyalim

vuralyalim

younes

vuralyalim

TinyDrawings

Culturehacker

_a_n_y_k_a

Culturehacker

fierzafajiri

KirkEnglehardt

Hersoid

KirkEnglehardt

KirkEnglehardt

sakehqueen

lowbrownative

TransitoryMask

suga_skies

xoo_chi

Destroystairs

UDntKnwWhoWeAre

MrDavidTiong

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