# NFTPILL TL;DR #008. ◕‿◕ )づ By [NFTSYD ](https://paragraph.com/@nft-syd) · 2023-02-04 --- ### Aloha! We know it's tough keeping up with everything that is going on in the Web3 space; that’s why at NFT Pill, we strive to bring you the juiciest news through our newsletters. Stay in the loop by subscribing here. [Subscribe](null) The Open Edition NFT season is here. ------------------------------------ Open edition NFTs are collections with only temporal scarcity limitations and per-wallet mint limits. For example, an open-edition artwork can be available for purchase for only a week. Open edition NFTs can be free or paid mints and starting an open edition project has become easier with recent UX improvements in marketplaces like Zora and Manifold. However, there is debate on the significance of this trend in comparison to the scarcity-focused NFT collections of 2021-2022. While some embrace the trend, others prefer limited edition NFTs with set quantities such as 50, 100, or 1,000 pieces. Successful examples are the [Checks](https://opensea.io/collection/vv-checks) by [Jack Butcher](https://twitter.com/jackbutcher?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor) , the [TRAITORS by XCOPY](https://www.niftygateway.com/collections/xcopyfiveminopen)  and [Money Printer Go BRRRRRR](https://app.manifold.xyz/c/brrrrrr) by NessGraphics, which raised over 1,404 ETH ($2 million) in one hour. OE benefits: **Accessibility:** Open edition NFTs are generally more accessible and affordable than limited edition NFTs, making them accessible to a broader audience. **Liquidity:** Open edition NFTs can be bought and sold more quickly, providing a more liquid market for investors and collectors. OE drawbacks: **Decreased scarcity:** Open edition NFTs have a lower perceived value as they are not limited in quantity and therefore lack scarcity, which is one of the critical factors that drive the value of limited edition NFTs. **Quality control:** The abundance of open edition NFTs can lead to a decrease in the overall quality of the art and content being produced, as creators may prioritize quantity over quality. **Over saturation:** The market may become oversaturated with open edition NFTs, leading to a decrease in demand and a decline in overall value. Overall, the trend of OEs presents both opportunities and challenges for artists, collectors, and investors. While OEs may provide greater accessibility and liquidity, they also face the risk of decreased scarcity, decreased quality, and market oversaturation. The government of Australia announces initial steps to regulate cryptocurrency and Bitcoin ========================================================================================== On 3 February, the Australian Treasury published a consultation paper titled "Token Mapping", which organizes cryptocurrencies and other digital assets into the major groups that will direct the government's regulatory strategy moving ahead. [_Read the article_](https://bitcoinmagazine.com/legal/australian-government-first-steps-to-regulate-crypto) [_Token mapping_](https://treasury.gov.au/consultation/c2023-341659) Regulate Web3 Apps, Not Protocols ================================= The third part of **a16z** Crypto's "Regulate Web3 Apps, Not Protocols" series was recently released and is full of insights. Web3 protocols can be semi-autonomous and accumulate value (fees, commissions, etc.). Web3 protocols can generate value (such as fees and commissions) and operate independently. However, the DAO associated with a web3 protocol could be established to profit from illegal activities and incentivize such behaviour. This allows bad actors to operate DAOs like businesses and evade app-based regulations, as seen in the case of CFTC v. Ooki. Over-Regulating DAOs would impede their functionality, which poses a dilemma for regulators. This article explores potential solutions, including a new approach that balances the benefits of DAOs while ensuring regulatory compliance. [_Read the article_](https://a16zcrypto.com/regulate-web3-apps-not-protocols-part-iii-the-web3-dao-dilemma/) Hybrid Ownership ================ The traditional token design often needs to be revised to recognize and reward stakeholders' contributions appropriately. This article, written by shough.eth, the Chief Operating Officer of Variant Fund, proposes a hybrid token model that assigns different forms of ownership based on the unique value provided by users, founders, and investors. He believes ownership should enhance the user experience, not be the sole focus. While there may be better solutions than a hybrid model for attracting new users seeking potential profit, it can lead to a more sustainable and user-governed protocol in the long run. [_Read the article_](https://mirror.xyz/shough.eth/LWXxj-fvAT_ehruJs4CVNh1Oe83hw5eQ3lzzW_5zo6g) Bright Moments x SamsungUs ========================== The NFT art collective Bright Moments has partnered with [@SamsungUS](https://twitter.com/SamsungUS) to distribute curated generative art collections via the [#SamsungArtStore](https://twitter.com/hashtag/SamsungArtStore?src=hashtag_click). [https://twitter.com/brtmoments](https://twitter.com/brtmoments) Nike brings .SWOOSH to life with its first co-creation challenge and marketplace ================================================================================ A community vote led Nike to publish an NFT collection inspired by its renowned Air Force 1 sneaker as its first offering on its ".SWOOSH Studio" NFT marketplace. [_Read the article_](https://twitter.com/jgao/status/1617675005290229762?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1617675005290229762%7Ctwgr%5E7556945ebcd3997a9f4578c091c780dada0e4c20%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fnifty-news-porsche-ends-low-effort-nft-mint-early-oreo-dunks-into-the-metaverse-and-more) OREO Launches its own Metaverse Experience ========================================== Recently OREO debuted the Most OREO OREO, a new limited-edition flavour that includes genuine OREO grit incorporated into the cream. The business has produced its own metaverse experience that is accessible on Meta Quest 2 and Meta Quest Pro headsets as a way to celebrate the new product. [_Read the article_](https://www.prnewswire.com/news-releases/incredible-stuf-awaits-the-oreo-brands-most-playful-cookie-ever-twists-open-the-most-playful-world-ever-301728735.html) Toyota is experimenting with blockchain. ======================================== By supporting a Web3 hackathon on the multi-chain smart-contract network Astar Network, the world's largest automaker Toyota is diving further into the applications of blockchain technology. This effort might result in new management tools for Toyota's workforce. [_Read the article_](https://www.coindesk.com/web3/2023/01/31/toyota-to-experiment-with-blockchain-use-cases-by-sponsoring-astar-networks-hackathon/) VitaDAO Closes $4.1m Fundraising Round With Pfizer ================================================== The largest pharmaceutical corporation in the world, Pfizer, announced that it completed a $4.1 million funding round with Balaji Srinivasan, the former CTO of Coinbase. This was Pfizer's first investment in the Web3 sector. [_Read the article_](https://wublock.substack.com/p/vitadao-pfizer-invested-longevity) ### What is DeSci Coolcats is introducing the cool store ====================================== From the Coolcats website, "_To ensure we're always rewarding the most engaged and active members in our community, we're implementing a new system called the Cool Score. Your Cool Score is an accumulation of points calculated by a variety of components, including the collection of NFTs you hold, your level of engagement within our community, your activity in Cooltopia, among other things. "_ [_Read the article_](https://coolcatsnft.com/news/post/introducing-the-cool-score) What is a Bitcoin NFT? ====================== The recent development of a new protocol on the Bitcoin blockchain allows the creation of non-fungible tokens. [_Read the article_](https://metaversal.banklesshq.com/p/bitcoin-nfts) Decentralized social networking protocol Nostr is now officially live on Apple’s app store ========================================================================================== [Nostr](https://nostr.com/), which stands for Notes and Other Stuff Transmitted by Relays, is fundamentally just that. Users can only create an account by using a client application to generate a key pair, consisting of a public and a private key. The private key is comparable to the user's password, but the public key serves as the user's "ID" on the protocol. By connecting to a relay, the user may broadcast a message to the protocol and sign it with their private key. By using their public key, anyone may message a particular user. [_Read the article_](https://bitcoinmagazine.com/culture/twitter-killer-nostr-apple-app-store) **Enjoy reading!** 🆙Ins ----- DeSci DAOs Open editions \*\* QOD “**Art is never finished, only abandoned.”– Leonardo Da Vinci**. NFT PILL Newsletter is brought to you by [@Simo](https://twitter.com/iamsimoleo) Stay up-to-date on the latest developments in the Web3 world with my bi-weekly newsletter. From DeFi and NFTs to blockchain technology and crypto news, we cover it all. Join our community of tech enthusiasts and stay ahead of the game. _Disclaimer: The information provided in this newsletter is for general informational purposes only and should not be construed as financial, investment, or other professional advice. Any reliance you place on the information provided is strictly at your own risk. The content is not intended to be a substitute for professional advice or judgment and should not be relied upon for that purpose. NFTSYD makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the newsletter or the information, products, services, or related graphics contained in the newsletter for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will NFTSYD and its contributors be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this newsletter._ --- *Originally published on [NFTSYD ](https://paragraph.com/@nft-syd/nftpill-tl-dr-008)*