ON #164: Web3 Culture 🎨

Apr 7, 2023

About the editor: Spencer Noon is co-founder of Variant Fund. If you fit one of these personas, reply to this email and say hi 👋

🎨 Web3 Culture

Stealcam is a mobile camera web app that allows users to create photos as memory NFTs on Arbitrum. Photos are pixelated by default, only their owners can reveal the memory. Users can “steal to reveal” memories from friends or creators, as well as earn ETH when an NFT is stolen. Since the launch on March 10th, 14.7K photos have been uploaded by 2K users. 72% of users have created memories, while 57% have stolen memories and 29% have done both. The “peek to earn” social game has captured 400 ETH volume, making it one of the most popular projects on Arbitrum.

Each time a memory is stolen, its price increases by 0.001 ETH + 10% of previous price. The premium is split among previous owner, creator, and protocol by 45%, 45%, and 10%, respectively. Creators have earned 23.2 ETH on Stealcam so far, and the platform has also accumulated 5.2 ETH in revenue.
Source: Dune Analytics - @pandajackson42
Editor’s Note: Looking for Panda Jackson’s third insight? To view it you’ll have to successfully steal to reveal it directly on Stealcam via the link below 😛

Sound.xyz enables music artists to launch music NFTs, while fans can support them. Artists can control their NFT collections and release songs with varying edition counts. As of April 4th, 1,370 unique music editions have been minted. Trading volume stands at $10M, with $4.5M from primary sales and $5.5M from secondary sales. Sound has helped 416 creators in creating and distributing their music, reaching a total of 15.8K collectors.
Source: Dune Analytics - @pandajackson42

Curator Rewards on Sound allow anyone to earn 5% from every primary mint generated from their referral links. To date, 916 collectors have been referred to Sound by 265 curators, generating a total income of $65K for artists. Curators have also earned $3K in curation rewards, with Sound receiving $3.2K as well.

Sound Swap, its latest product launch, allows users to mint additional NFTs on a bonding curve after the initial sale. One-click collection and selling of editions is possible through Sound Swap. 219 users have completed 295 trades on 18 editions, totaling a trading volume of $10K.

The music community on Lens is seeing 526 music creators, with 2,395 of their posts gaining 38K mirrors (retweets/shares), 54K unique followers and 588K total follows. The last week of March also saw an all-time high record of posts created and active music creators.

In addition to seeing an all-time high record of Lens collections and collectors, Web3 music space saw an increase of 249% in active profiles that had mirrored (the same as retweeting/sharing) compared to last week.

Finally, 588K follows have been made in Polygon's music space with an increasing number of follows and followers for the past 5 consecutive weeks. There was also a 260% increase in active followers over the past 2 weeks. Check out the amount of engagement that @Riffappxyz is driving in the Web3 music space.