February 12 - 16: This week in NFTs, recapped in one letter

Gm,

Roses are red, violets are blue, our portfolios are green, and Bitcoin hit 52…k!

Alright, frens, enough with Valentine’s week. WE’RE SO BACK, right?

Bitcoin hit a $1 trillion market cap this week - something we’d last seen in 2021. We also saw an EtherRock sell for 200 ETH while Sotheby’s is auctioning another one. Meanwhile, airdrop season is in full force and there’s so much going on it’s hard to keep track.

And while it might be too early to call an NFT bull market specifically, as we keep saying, this time it won’t be the same. There might be a new sheriff in town soon (are penguins the new apes?) and we see new sectors like web3 gaming continue to snowball while Ethereum’s dominance for all things NFT is decreasing.

But bull or not, we’ve been cooking.

A couple of updates from this week:

✨Our Rarible x ForbesWeb3 Art Contest winning artworks continue to be minted as OEs on RARI Chain until next week - a testament to artists and creator rights in web3. Drops are available exclusively on Rarible.com for 0.002 ETH.

👾 On the gaming side, RaribleX is now collaborating with SphereOne. Together, we’re working on creating a seamless, multi-chain experience for web3 games, from account creation to new crypto-payment solutions. Why? Because we believe that games will play a HUGE role in democratizing NFTs and we’re all in.

• There’s a Superchief Gallery dedicated to Bitcoin Ordinals artwork opening today in San Francisco.

• The ApeCoin DAO has spoken. Horizen Labs was chosen to build ApeChain in collaboration with Arbitrum and Offchain Labs.

• Pudgy Penguins almost flipped BAYC earlier this week. Floors currently sit at 20.3 $ETH and 23 $ETH each.

• The 2021 NFT collection Robotos is NGMI. Creator Pablo Stanley announced he’s leaving web3 for good and not selling the project - no community takeover ahead.

True frens were there during the bear. Value your community.