Great ready for Instagram influencer NFTs 🤢

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Solid stuff team, we move from here.

It's short and sharp this week to satiate you lot.

This is The Reveal, where the fun side of crypto is pumped and dumped into your inbox every Friday.

News Hits 🗞

1/ Instamint

Instagram said that starting this week it will begin allowing a select group of digital creators to mint and sell NFTs directly from the platform.

It recently launched its Digital Collectibles feature in 100 countries, allowing users to connect to their digital wallets and showcase NFTs that they either created or bought. The connected NFTs can be shown in your feed and include a shimmery effect to indicate authenticity.

People love shimmers.

The latest update will allow creators to make their own digital collectibles and sell them both on and off Instagram, giving them an "end-to-end toolkit" for creating, displaying and selling NFTs. It will initially launch on Polygon and will be tested among a small group of creators in the U.S., including Amber Vittoria, Refik Anadol, Jason Seife, Dave Krugman and several others.

It's only a matter of time before reality TV stars push their new NFTs as part of sponsored posts 🤢

2/ Gobble Gobble

VC backed by Paradigm, a handpicked free mint allowlist, and novel game mechanics led to an incredibly successful beginning for Art Gobblers on Monday but it came with a fair bit of controversy given who was able to mint, and their actions in promoting it in the lead up, with the below image circulating on Twitter by bitter people who missed out:

The 2,000 Gobblers from the project’s free mint “gobble art,” meaning they eat the art that artists draw using the project’s draw tool.

These drawings are then turned into 1-of-1 NFTs using in-project resources. The totality of the artworks that a Gobbler eats are stored on chain and will be displayed in its “belly gallery” forever.

These NFTs are ERC721 tokens that belong to the artists who create them and can be transferred or sold by the artist whenever they want.

With almost 10k ETH volume and a rapidly surging floor price up to 23 ETH, people got rich here. And those people were mostly rich already, but you knew that anyway because this is NFTs we're talking about.

If you missed out, you'll be glad to hear that at the time of writing, the floor price is now 8.8 ETH and the last sale was 7 hours ago.

You can continue on with your life or even buy an ArbiGobbler.

DeFi Guy 👨🏼‍💼

Even though he wears a suit, gets told when he can have lunch, and works in a cubicle, he actually knows his crypto (but do your own research, obvi).

In short: this promises to be one of the biggest airdrops in crypto history to date.

What is it?

• An Ethereum Layer 2 protocol that aims to enable Ethereum to scale.

• The idea is that, as Arbitrum integrates more and more apps, transactions are firstly confirmed there, before being sent back to the Ethereum mainnet.

• Using Ethereum is expensive, and Arbitrum is already 97% cheaper than Ethereum to swap tokens.

• To give a sense of the problem it solves, during the 2021 bull run, ETH could cost over $100 to process a transaction.

• It currently doesn't have a token but is heavily rumoured to be following its big competitor Optimism in launching one.

The airdrop 🤑

If it ends up being anything like the Optimism airdrop, where people made anything between $2k – $50k, this could be huge.

The opportunity and steps to take are clearly laid out below by Miles Deutscher, another reputable DeFi Guy.

What he lacks in muscles, he makes up for with expert DeFi analysis and lovely, slicked back hair:

Shiny New Toys 👀

Fairmint empowers you to grant equity to anyone that adds value to your company and passively receive investment from your biggest fans.

It looks like a neat way for project founders to put their money where their mouth is in bringing their community along for the journey with real skin in the game, and for DAOs to streamline this a lot easier.

(Not sponsored fyi)

A Digestif 🍸

Thanks for reading, folks. See you next week!