Hi friends,

Today put together a shocking chart that compares the state of the digital art market and... memes. Things have changed over the past year and this image is worth a thousand words.

What's going on here?

Well...

1. Memes will always be memes. Their virality is hard to match.

2. Most of the people in crypto are here to make money and meme-coins seem to be the right vehicle today.

3. We are also living in a fancy gamblers paradise.

4. In the 2021 bull market, digital art, generative art, and pfps where the vehicles of choice to make a profit.

Does this mean that digital art is dead? Of course not, but expectations should be adjusted. Be aware that huge portion of the volume was coming from speculative and gambling motives.

On another note...

I had a blast making this chart and noticed how long it has been since I got my hands dirty with datasets and numbers. So I'll force myself to share more destilled data via 'Onchain Charts.'

You can mint them on Zora and follow along via /onchain-charts Farcaster's channel.

Not sure if I can making them daily like Beeple or 0xdesigner, but I'll try.

This summer, we're celebrating innovation in the blockchain world. Join developers, artists, and creators as we design and share exciting new dApps, artworks, and projects to push the space forward.

To kick off this season, I’ve crafted a special, free NFT— a tribute to our creative Onchain Summer.

I'd like to highlight the best of this summer in my newsletter and social media, but it won't be easy due to the amount of things going on.

If you are creating or spot something exciting, help me by sharing it via my Farcaster channel, Discord or use the hashtag #onchainSummerGem on X.

In exchange, I will:

• Include my favorite ones in future newsletter editions.

• Tip $degen to anyone that shares my Onchain Summer NFT on Farcaster (not on Farcaster? here is an invite), or shares contributions to onchain summer in my channel. I've got ±$400 daily tips to give 😉

Spam, bots or low quality content won't receive tips.

Until next time,

- Kaloh

Interested in sharing your project, product or brand to +16,000 onchain enthusiasts? Reach out at hi@kaloh.xyz

Find me on YouTube, Farcaster, X, and Instagram.