Flipped short on $APE Where was the keynote and announcements this year? 🫪 -No status report on irl clubhouse -No meaningful use of $APE in mudwater and some gimmicky $APE reflections for mudwater holders. There’s more $$ in it for Yuga in holders revealing packs ($8 per pack, 240kpack, $1.9M total) than there will be in holder reflections for a longgggg time (highest volume is usually launch day which means the $69,000 of volume they’ve done has generated $0.000718 per card. -no update on resource game Expecting some major underperformance till it finds a new bottom

How many years and the hot new launch is a card game? Bruh.jpg

nightmare fuel

what a world we live in

Something else that will need to migrate is the Pengu Flocked SBT along with the Vaneck Intern SBT. These were both claimed to Abstract if you scanned the chip on the box of the physical. Was concerned the claim would no longer work for these as I have PTSD from the shitload of @gmoneyNFT 9dcc IT-02 shirts that no longer scan 😂. rip

i just realized that I paid $5,300 to burn 53 of my mystery boxes for SBTs that are currently on abstract what happens now?

ApeFest leak or what, $APE?

We're about to have our first liquidation following the Blur/Blend Shutdown announcement. RIP Pudgy Penguin #3304. Dressed to Impress...

BAYC loans currently on Auction are entirely bad debt w/ 40 loans underwater Yuga was pushing to rehome “good debt” but it doesn’t appear they actually transitioned that many NFTs? Gondi dat pull showing only 6 new loans (3 from blend) over last 72h

Before there was Blur liquidations there was BendDAO liquidations… And nobody ever talks about the Gondi Liquidations 🫪

More detail into the loan books added -> who is recalling and who is refinancing Quick update: Pudgy | 143 auctions 69% of book | 41 underwater BAYC | 56 auctions 50% of book | 54 underwater MAYC | 96 auctions 65% of book | 29 underwater AZUKI | 152 auctions 77% of book | 152 underwater Pudgy: top recall lender is also top refinance lender BAYC: recall lenders out number refinance lenders MAYC: same as BAYC but worse Azuki;

Everyone is saying Blur shutting down is bullish for NFTs… I think the opposite and here is why 👇 For years during the Blur Era we have seen the bid books and Loan books filled with offers -> Incentivized Liquidity <- Points szns made liquidity very agro but as the rewards declined, so did the aggressiveness of the liquidity…until one day, *poof*, all incentives for liquidity came to an end…. Or so we thought. For the last period of Blur’s life there has still been incentivized liquidity in the form of >>High Borrow Rates<< nft mfers have been paying extraordinarily high ETH borrow rates on their joegs which has resulted in large amounts of loan offer liquidity being available. The risk the lenders are willing to take is the potential for these liquidation cascades to occur. It’s not an automatic death wish for these lenders but it is something they keep an eye on and have to manage. So what happens next? Won’t those lenders just move to Gondi and all continues as usual? I don’t think so >> for starters, the simplicity of taking a blur loan after getting a bid filled for bidders has dropped significantly with the removal of Blend. It used to be one platform, one place to trade one source of liquidity, all right where they needed it. Now you’re on Opensea then you’re on Gondi, and you’re taking loans that are fixed duration and have upfront costs and fees and blah blah blah blah. So much more effort goes in to CYA with a loan when a bot bidder gets their bid filled. Thus I think future loan offer liquidity will be extremely low LTV, bot bids will start to disappear and we will return to the HIGHLY ILLIQUID ASSET for NFTs which some argue is a good thing. If you peak behind the curtain tho- highly illiquid was only great when there was … you guessed it, an INCENTIVE!. So no, I don’t think blur and blend getting removed here is bullish at all. I think any remaining liquidity we did have is gone. My warning to large bag holders is look around and consider your exit paths. Remember OSF, and Mando could only exit large bags at the PEAK of aggro liquidity. Gl

Update 👇 🚨⛩️ Azuki: 72% of loan book on auction, 25% of loan book is under bid price 🚨🦍 BAYC: 64% of loan book on auction, half of loan book is under bid price 🚨🧪 MAYC: 74% of loan book on auction, 25% of loan book is under bid price 🚨🐧 Pudgy: 75% of loan book on auction, 83% of loan book is under bid price

There is no clean way to just ~turn blend off~ as there is no smooth way to simply ~transition a loan to Gondi~ For this reason alone, the NFT floors will take a hit in the unwinding