The alpha:
- On January 19, Yuga Labs released Dookey Careeran interactive minting experience playable until February 6.
- Users must have a Sewer Pass in their crypto wallet to play. These passes were initially airdropped to BAYC and MAYC NFT holders for free and have since started appearing on secondary NFT markets, as announced by Yuga Labs. in a tweet.
- Public demand for sewer passes has reached a fever pitch since they first became available. Just three days after appearing on OpenSea, the sewer passes accumulated a trade volume of more than 13,000ETH – more than $20 million for recent dollar valuations of ETH.
why does it matter
After gracing the NFT space with the Bored Ape Yacht Club in early 2021, Yuga Labs established itself as the dominant player in the ecosystem (and the name those outside the walls of Web3 have probably heard when someone mentions NFTs). After releasing follow-up collections, including Mutant Ape Yacht Club and Bored Ape Kennel Club, and teasing the NFT ecosystem with the Otherside metaverse, many wondered how the BAYC universe would move forward as 2023 arced into view.
In January, the company announced the Mint Sewer Pass, an airdropped NFT to BAYC/MAYC holders and available on the secondary market. The NFT would grant holders access to a skill-based game called Dookey Dash that takes place in the sewers of the Bored Ape Yacht Club. The news put the NFT community on notice, and after delaying the Sewer Pass mint for a day, Yuga dropped the set well in advance.
The mint was always going to be big, but the Sewer Pass collection has since racked up impressive numbers, with volume exceeding 13,000 ETH ($20 million) in the three days since it went down. That volume is likely to continue to skyrocket (increasing another 30 ETH during the writing of this story). It’s a clear indication that the NFT powerhouse that helped solidify the 2021 bull run and put NFTs on a broader cultural map is ready to continue his reign, no matter what bear market conditions sustain it. .
Whats Next
Yuga Labs has also used the Sewer Pass as an opportunity to make a strong statement. Having he didn’t do it in secret Where the team is in the debate, the group has blocked secondary markets that do not fully enforce royalties on creators to sell the tokens on their platforms.
OpenSea and X2Y2 have seen trading volume skyrocket in recent days, while platforms like LooksRare, Blur, and NFTX are unable to transact with NFTs, a Yuga Labs representative confirmed a decipher. Sudoswap, another trading platform marketed for its zero-royalty stance, is similarly blocked from trading NFTs. However, they may be circumventing the move, as the platform shows more than 569 ETH in trading volume on its sewer pass page.
OpenSea reinvigorated the royalty debate last fall when it surfaced and later abandoned its decision to move to zero-royalty enforcement for its existing collections. Since then, NFT projects using the platform have taken advantage of its Operator Filter Registry feature, OpenSea’s first on-chain compliance tool.