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Space Yacht Founder LondonBridge: 6 Tips for NFT Creators

Republished by Plato

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Space Yacht started as a small back-alley industry party behind a Los Angeles speakeasy in 2015. It has since blossomed into a renowned tastemaker for the electronic music industry, hosting weekly residencies and events worldwide with over 150 shows per year. 

Space Yacht’s Founders, Rami Perlman and Henry Lu, who met at one of the early parties, embraced the concept of NFTs and digital art primarily as a reaction to the 2020 freeze of the events industry due to the pandemic. As the first music brand on Nifty Gateway, Space Yacht is regarded as an early data point for the successful use of NFTs as a bridge between brands and their loyal audiences. 

Space Yacht’s most recent NFT drop sold 579 units, generating $482,000 in sales for the brand. The 1/1 “Iconography Collection Volume II” NFT sold for $12,600, an was Nifty Gateway’s top sale.

The following article is a guest post by Space Yacht Founder Rami Perlman (also known as LondonBridge), Co-Founder of Space Yacht, an electronic music talent collective with one of the fastest-selling NFTs on Nifty Gateway with over 230 pieces sold in 2 mins 28 seconds.


NFTs have stormed our cultural & technological landscape with unprecedented force and momentum. Many in the music industry are just catching up on the technology, but the fact is we should have seen this wave coming. 

All the signs were there. 

Space Yacht on Nifty Gateway

Space Yacht on Nifty Gateway

You had mega influencers like Mark Cuban preaching the NFT gospel on Twitter. Crypto legends like the Winklevoss Twins purchased what is now the most influential NFT platform in the space in Nifty Gateway.  And the ever emphatic Gary Vee yelling “NFT!” at the top of his lungs ad nauseam for weeks on end in packed Clubhouse rooms. 

Then came 3lau

His historic sale of the first NFT album generating upwards of 11 million dollars got the entire music industry’s attention.

 Overnight, every musician, producer, DJ, and band wanted to make their own NFT and cash in. I had a number of calls with frantic music managers who told me their jobs were on the line if they couldn’t figure out how to drop an NFT and drop one now!    

But the truth of the matter is that there was, and is no need to rush or panic. NFT and blockchain technology are here to stay and their function and impact on the music industry will be profound. 

Record companies will turn into NFT companies.

Music streaming services will function as mere marketing tools to promote the label’s NFT catalogs consisting of new releases and reissues of classic albums. 

Royalty distributions will be baked into smart contracts, destroying the necessity for PROs like BMI or ASCAP.  

The entire paradigm will flip on its head due to the fact that NFTs monetize better than any streaming platform in existence. Period. It’s not even close.

A still of one of the Space Yacht NFT

I was fortunate enough to get into the NFT space early through my brand Space Yacht at the beginning of 2020. As creatives, we were drawn to NFTs as a new medium through which we could express the attitude and sound of our brand. 

After three successful drops on Nifty Gateway and the launch of our own NFT creative agency, we’ve learned a lot about both the creation of NFTs and the mentality of the NFT collector. 

I wanted to share six pieces of advice that apply to creators, managers, or anyone else who is trying to get into the NFT space. 

Looking to Get into NFTs? Read This. 6 Tips for NFT Creators

I’m not going to include “take a deep breath and chill” as part of this advice, but you should. 

1. Think long term: 

You have to think about NFTs as you would a new social media platform. 

Create a long-term strategy and think about NFTs as yet another format through which you can engage with your fans and tell stories. Think content first, money second.

2. Onboard your fans: 

The key of your first drop should be all about getting your fans to create an account or wallet on whichever platform you are using for drops. 

Try dropping a low-cost NFT to start or even add a physical item to grab those fans who are scared of crypto.

Use a platform that takes credit cards so that non-crypto heads can participate. 

3. Program the behavior

Many creator fan bases don’t necessarily have a culture of collecting. Fans may buy your merch, but collecting is a different beast. 

You have to start talking about the idea of collecting and stoke the flames to get your fanbase to start doing this behavior organically. Start with limited-edition drops that are hard to get in an effort to stoke the FOMO which will drive your fans to get into the game. 

Space Yacht's recent collection

Space Yacht’s recent collection

4. Don’t phone it in: 

Don’t just make an NFT to make one. 

Your goal is to create NFTs that are an extension of your brand. Just like making a great record, you have to create work that emotionally connects with your fans and is authentic to your brand. 

Simply put…MAKE GREAT SHIT!

5. You still have to market & promote: 

It’s easy to get swept up into the stories about music artists making millions from their NFT drops. But most of those people already had huge fan bases AND the backing of major platforms like Nifty and Super Rare. 

This isn’t the case for most creators. It’s important to understand that just because you made an NFT, it doesn’t mean that money will magically fall from the sky. You still have to market and promote. 

6. Manage your expectations: 

If you create NFTs that are authentic to your brand, you will be best positioned to reap the rewards. Don’t be discouraged if your first drop doesn’t do a million in revenue. 

As with all creative endeavors, have fun with it and take pride in the fact that you are an early adopter and pioneer in a space that is still in its infancy. If you happen to make some money from it, then that’s just icing on the cake.

Final Thoughts

NFTs provide a potential solution to fix the very broken music industry model. As is common with the disintermediation ethos of cryptocurrency; the blockchain allows brands to directly connect with their fans, rather than the relationship being intermediated by a bloated array of record labels. 

While electronic music brands like Space Yacht and 3lau have had great success with NFTs, their success is not a walk in the park. 

Many of today’s home run NFT successes were the results of months or years of research and preparation, much of which was conducted with minimal to zero market attention.  

The metaphoric dance floor of NFT creators is becoming increasingly more crowded; however, it’s yet to be determined how large the dance floor actually is. Creators like Rami Perlman see NFTs as being in their very early stages, with plenty of open landscape ripe for the taking. 

Ultimately, meaningful success with an NFT or any commercial venture is usually the product of a strong relationship with fans that genuinely appreciate a brand’s craft. 

Thank you Rami for sharing your tips for NFT creators! 

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coincentral.com/space-yacht-londonbridge-6-tips-for-nft-creators/

Blockchain

Bitcoin Cash Price Analysis: 10 April

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The correlation between Bitcoin and Bitcoin Cash stood strong at 0.729, showing a positive correlation between the prices of the two (denominated in USD). Bitcoin Cash saw some bullish news in recent weeks when it was announced that merchants that have integrated PayPal will be able to accept payments in BCH.

Bitcoin Cash 12-hour chart

Bitcoin Cash Price Analysis: 10 April

Source: BCH/USDT on TradingView

Bitcoin Cash was once again near the $670 resistance level. Further on lies the $750 resistance level, while support is at the $600-$610 area.

A leg upwards could be exactly the thing that has been brewing in the markets over the past month. Bitcoin and Ethereum have been unable to break past the stubborn resistance at $60k and $2000 respectively, suffering a sharp pullback before recovering. The positive sentiment around the market has been building for a few weeks now and could propel prices higher in the weeks to come.

The technical indicators showed that BCH has shifted back toward bullish momentum over the past two weeks, after dropping to test the $480 support level.

Rationale

Using the Elliot Wave Theory, the move from $220 (October) to $500 (January) appears to be the third wave in a series of five waves for BCH – and that wave also saw BCH register larger gains than the other two motive waves.

The move from $750 to $480 would then be Wave A of the corrective phase – and the recovery from $480 being Wave B. If this is indeed so, then BCH is unlikely to push past $750 once again.

The OBV showed that although buying volume was present, it has not yet made up for the selling volume seen since the drop from $750. This has to change if the bulls are to drive prices toward $800.

The RSI climbed back above neutral 50 to denote bullish sentiment.

Conclusion

A surging Bitcoin often sees market participants exchange altcoins for the king of crypto. This scenario would likely see coins such as BCH stagnate while Bitcoin soars. The $660 and $750 remain key levels of resistance and a move above them will invalidate the corrective phase scenario laid out in this analysis.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/bitcoin-cash-price-analysis-10-april

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How Ripple’s big win in court correlates with XRP’s 113% rally

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The bulls ride again on XRP’s side, as the token breaks about $1. On the legal subject, things seem to be going well for Ripple’s corner as rumors of an SEC settlement grow louder.

Back in December, the Commission hit Ripple Labs, executive Brad Garlinghouse, and Chris Larsen with a lawsuit for the alleged illegal sales of an unregistered security. In the coming month’s XRP’s price plummeted, exchanges delisted it, some investors lose faith.

As reported by lawyer Stephen Palley, Garlinghouse and Larsen scored a victory yesterday when Magistrate Judge Sarah Netburn rule that “discovery seeking 8 years of financial records along w/ subpoenas to 3d parties seeking same were too broad”.

Palley classified the decision as a “nice early win” by the defendants but is still skeptical about it being an indication for a resolution on the case. Palley added the following:

Winning a motion for a protective order on discovery doesn’t usually portend victory on the merits of the case itself. It depends. And the Court left open the possibility some of this could revisit later, if there are reasons to check veracity.

On the other hand, Galaxy Digital CEO Mike Novogratz said Ripple’s “equity is trading” at up to $3 billion in valuations on a secondary market. Novogratz speculated on the possibility XRP is rallying due to rumors of a possible settlement in the lawsuit.

Last February, the parties ruled out a settlement in a joint letter. However, the negotiations took place under the Commission’s previous directive. Gary Gensler is expected to be confirmed by the Senate and his more pro-crypto stance to have a positive influence on the legal process. Novogratz said:

Ripple equity is ‘trading’ in secondary market at $2-3bn valuation.  The $XRP on their balance sheet is worth approx $70bn. One price seems wrong. If XRP price is saying settlement coming, the equity is crazy cheap.   If not, the token seems expensive.   Thoughts?

Commenting on Novogratz’s statements Palley said there is no “public” indication a resolution is coming soon. The lawyer classified this subject as “inside” information and claimed a settlement will come after summary judgment practice. Palley added:

I don’t know how one can correlate price itself to settlement unless someone has inside information about potential SEC settlement/resolution and ability for exchanges to re-list for trading. Ripple has done better than I expected so far in preliminary motion practice and discovery fights, but there’s a long way from that to case resolution.

XRP in moon mode

Those who hold on to their tokens have been rewarded. XRP is trading at $1,32 with 29% profits in the past 24 hours and the biggest weekly rally in the crypto top ten with 113%.

Ripple XRP XRPUSDT
XRP on a bullish run in the 24-hour chart. Source: XRPUSDT Tradingview

Trader Kaleo said XRP is yet to reach its top and seems bullish on current price action. Comparing it to the 2017 bull-fun, the trader said XRP’s price quickly reach $2.45 when it broke the $1 mark. In the current rally, there is “way more capital” and fuel for the price to extend the bullish momentum.

In the last 24 hours, investors in South Korea are increasing XRP buying pressure as shown by the high trading volume in Upbit and Bithumb, two major exchanges in that country.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.newsbtc.com/news/how-ripples-big-win-in-court-correlates-with-xrps-113-rally/

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Chainlink, Aave, Decred Price Analysis: 10 April

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Chainlink moved within an ascending channel but a breakdown did not seem likely at least in the short term. Aave remained below its 200-SMA, while Decred was expected to break south from its ascending channel after touching $200.

Chainlink [LINK]

Source: LINK/USD, TradingView

Chainlink’s current price was at a crossroads on the 4-hour chart. On one end, a climb above $35-resistance on the back of a bullish broader market would likely boost LINK above its ATH of $36.9. The other end would see LINK move below the bottom trendline of its ascending channel.

A bearish divergence on the MACD did lead to a pullback, but the price was still within the confines of an ascending channel. If the fast-moving line does cross above the signal line, a breakdown can be avoided over the coming sessions. The RSI pointed north from 54 but was expected to fall towards the oversold zone after forming another peak in the upper territory. A breakdown would highlight $28.6-support, but the same could go as low as $24.4.

Aave [AAVE]

Source: AAVE/USD, TradingView

While Aave has attempted a recovery after the late February pullback, gains have been largely capped by a strong resistance line of $422.7. Another stubborn form of resistance came from the 200-SMA, a line that has subdued Aave’s attempt at a bullish comeback. At the time of writing, the candlesticks were below the 200-SMA and the bulls faced an uphill task to take control of the market.

The OBV moved flat over the last few sessions. On a whole, selling volume has outmatched buying volume since mid-February. The ADX pointed south from 26 as the price approached its long-term moving average. Even if the price does move north, failure to flip $422.7 to a line of support could lead to a breakdown once again. Support at $300 could cushion any losses seen during the mid-long term.

Decred [DCR]

Source: DCR/USD, TradingView

On the 4-hour timeframe, Decred moved within an ascending channel after a pickup from $175.7-support. Since the last two weeks, this has become a recurring theme for DCR. Ascending channels have led to a minor pullback but the bulls have swiftly negotiated them and maintained an upwards trajectory. Going by the same logic, a minor pullback was expected if the channel peaks at a psychological level of $200.

The $195 region could offer some support but a fall towards $175.7 was also likely in case of a sharper sell-off. For now, the RSI was in the process of forming its third peak in the overbought region and a reversal can be expected soon after. Meanwhile, bullish momentum was gathering according to the Awesome Oscillator.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/chainlink-aave-decred-price-analysis-10-april

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