#003: deadmau5 x Mad Dog Jones, Justin Roiland, and 3LAU
Welcome to the third edition of NFTDrops. We cover drops across the digital art and collectibles world and give readers the information necessary to stay up to date with the space.
This week we're covering deadmau5 x Mad Dog Jones and upcoming drops from Justin Roiland and 3LAU.
We had issues posting on substack this week, so we posted the newsletter here. We expect the issue to be resolved by #004.
Recap of the Past Week
Hypervision by deadmau5 x Mad Dog Jones
The Collection
deadmau5 and Mad Dog Jones released Hypervision this past week, which was composed of two open editions, a 5/5 silent auction, and a 1/1 auction. In total, the collaboration netted $405,911.03.
Lotus Train - Open Edition, $699, 148 editions minted
Dead Ramen - Open Edition, $2,500, 67 editions minted
Park Place - 5/5 Silent Auction, Sold for $12,311.99, $12,420.69, $13,420.69, $14,200, and $14,888
Block Heater - 1/1 Auction, Winning Bid: $67,717.66
Our Thoughts
We covered this drop in last week's upcoming drops section. At the time, we believed collectors would flock to this collection based on data from deadmau5 and Mad Dog Jones' prior drops. Both the 5/5 silent auction and 1/1 auction exceeded our expectations, and we even saw a bidding war take place.
Moving forward, we'll continue to see a few trends manifest. First, collaborations between artists will continue to become more common. Collaborations are a great way for artists to leverage each other's following to build more hype from a broader audience. Second, as more collectors join platforms and bidding wars heat up, auctions will continue to fetch eye-popping prices. We expect to see an auction in the next few months break The Citadel of the Sun’s record for highest sale at $800,000, which was previously held by Beeple's THE COMPLETE MF COLLECTION at $777,777. Lastly, even more creators from across mediums will turn to the NFT space to monetize their work after seeing success from artists, musicians, and others.
Upcoming Drops
Justin Roiland
Tuesday, January 19 @ 7PM EST
Platform: Nifty Gateway
The Collection
Justin Roiland, co-creator and voice of Rick and Morty, is releasing his first NFT collection this week on Nifty Gateway. Based on some previews, we know that there will be three open editions (priced at $333, $666, and $999) and four limited editions (quantities of 100, 20, 10, ?). The fourth limited edition NFT has not yet been revealed.
Our Thoughts
Since this is Justin Roiland's first drop, there isn't any data from the secondary market to look at; however, numbers from Rick and Morty and Roiland can give us insight. Rick and Morty's Season 4 premiere episode "Edge of Tomorty: Rick Die Rickpeat" reached 2.33 million viewers. Additionally, Justin Roiland has more than 760,000 followers on Twitter.
While this drop will likely reach a fraction of the Rick and Morty fanbase, it signifies something more significant. NFTs are starting to reach a much larger audience. Justin Roiland can bring many new collectors to the space because of Rick and Morty (among other things). Since limited editions are nearly impossible to get and sell out immediately, we'll likely see considerable interest in his open editions, especially if there is an influx of new collectors.
Additionally, depending on Roiland's fourth limited edition in this drop, we could see another bidding war happen. An original artwork featuring none other than Rick and Morty would catch the attention of a lot of collectors and speculators. Oo-wee!
3LAU
Friday, January 22 @7PM EST
Platform: Nifty Gateway
The Collection
Electronic dance music producer Justin David Blau aka "3LAU" is releasing his first song NFT. 3LAU revealed that there will be an open edition and 1/1 auction for the song Canvas. Additionally, the drop will come with a physical surprise.
Our Thoughts
3LAU is no stranger to the crypto world and bridging the gap between music and digital art. He has previously released NFTs on platforms including Nifty Gateway, MakersPlace, SuperRare, and BlockParty. 3LAU was also one of the first artists on Audius when the public beta launched. On Nifty Gateway, 3LAU has released three drops in the past in collaboration with Slime Sunday.
Throwing Shapes by SSX3LAU on Saturday, November 14
Throwing Shapes Open Edition by SSX3LAU on Saturday, November 14th
The Array Collection by SSX3LAU on Monday, October 5th
From The Array Collection, there has been significant price appreciation on the secondary market. The average price change from the primary market on three of the limited editions is +188% on The Block, +157% on Prism, and +157% DEEPER. While we have noted that open editions are not the best option for flippers, we will most likely see the long term value of these NFTs appreciate. It is important to remember that NFTs have barely scratched the surface in terms of adoption. Innovators like 3LAU demonstrate to artists and creators that they can monetize their work in new ways. In a few years, artists who led the push towards innovation will have their work sought by collectors.
Stay tuned for next week's newsletter!
-Austin (@1A1zP1) and Mike (@mikeybitcoin)