niftytime
@niftytime.eth
Gut reaction: this feels like an extremely troubling precedent to set. Re-minting *the same exact asset* that was previously minted and sold is typically frowned upon from an art perspective, to put it lightly But let me recap the facts so folks can form their own opinions: - 2024-04-03: Jacob released a Zora mint (1155 NFT) of the horse titled !!! #2 at a cost of 11 $higher per mint at a cost of appx $0.17 that was minted 3871 times - 2025-03-12: Jacob minted the same image as a Zora coin with the ticker $horse (1B supply) —> Jacob airdropped 500M $horse across appx 667 current 1155 NFT holders at 16:11:29 UTC this morning at a rate of 133,346 $horse per 1155 worth appx $9.9 (coin value = $0.00007491 per coin at time of airdrop) —> value of coin at time of this cast (18:50 UTC) is $0.001 or appx $130
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jacob
@jacob
every single collector just got net *way* more value than if i had not done that? where is the issue here?
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niftytime
@niftytime.eth
yeah had to split my post. insane returns for primary minters no doubt still processing what this means, but couple open questions come to mind: - which token collection matters now (1155 or erc20 or both)? - what happens if this approach is copied but returns to existing collectors net out to being less what they originally paid? https://warpcast.com/niftytime.eth/0xcff14d7b
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jacob
@jacob
> what happens if this approach is copied but returns to existing collectors net out to being less what they originally paid? in this case they still got more value than they had otherwise. they still own the NFT and now they got some new tokens on top of that.
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niftytime
@niftytime.eth
found an interesting data point the following collector acquired 4x copies of the 1155 NFT off secondary back in November 2024 spending $666 or $166 per copy. they haven't sold their $horse airdrop yet they are still down in USD terms relative to their secondary purchase if they sell now, but less so which is interesting but zooming out is $horse the asset to hold onto now? do folks pay multiples of the value of 1 $horse to buy or bid a listing from the "vintage" NFT collection? which collection becomes the collection to reference for this image now? or are they both supposed to exist and find their own unique equilibriums? https://opensea.io/0x44526FDF5259E5d21655c0A7328e28f39b2F4A80?search[collections][0]=0xed6bb60faf5be2f3bbcf7c03877b05e26e36a8bc
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