✨NahRabbits: Latasha x Partybid
$30k Made in 24 hours off a Music Video NFT
Tales from the Metaverse
Soooo, Last Friday around 3pm, we received a notification that an auction reserve for a music video NFT, called "glo.up" had been met on Zora by a rap artist named Latasha.
Lil side note: The sis, Latasha did the video two years ago with her better half, Jah. In which all the photos of Latasha in this write-up were taken by @artbyJah💘. We have heard of Latasha before from her work with Zora. Latasha is the first female rapper to release music on-chain. In addition to that, she recently took a role as Zora's Artist Community Lead.
Anyways, we received another notification that a PartyBid auction had started for Latasha's "glo. up" music video NFT. If you know about PartyBid, then you know, PartyBid auctions hit different.
What’s up with PartyBid?
PartyBid (PB) allows people to bid on NFTs together as a team for those who don't know. PB has done some epic auctions already. The last few auctions we observed in August were for $HALLE, $TIARA, and $LUPE, set up by @sirsuhayb and @FeltZine. The gist of these auctions was to bring much-needed attention to Black Crypto Punks and start the conversation around the bias against Black Punks. Over $200k+ in ETH was obtained through the app for these auctions.
PB drops the barriers of entry for ppl who cannot buy expensive NFTs like Crypto Punks, Bored Apes, or a Fidenza outright. If the PartyBid wins the NFT, all of the bidders who put some ETH up win the auction and get tokens representing fractional ownership for the NFT. If you don't win the auction, you get your ETH back. Pretty straight fwd.
Now, back to this experience.
We then received another notification that Latasha would be holding a Twitter Spaces session in conjunction with the PartyBid auction. Twitter Spaces + PartyBid is the shit. This combination of apps is a compelling way to build momentum and community around the live auction.
Latasha was live-tweeting, interacting with her supporters while they were rooting for her, and tweeting out to their followers about her live auction, as they were contributing ETH at the same time. In the midst of this, we also could see the colorful comments flying and cute emojis dancing around the PartyBid website, and you could hear the excitement from everyone. We were observers of the space, but we couldn't help to join the party and place a bid. The energy in the room was just infectious. As the auction clock was running out, we noticed that the Twitter Spaces + PartyBid rooms started to get more poppin' as more bids came in, thus creating more adrenaline.
This was an example of a flywheel.
@LATE_FX took a video of Lastasha's PartyBid Auction.
In Twitter Spaces, Latasha was affirming what she wants to happen with her music. There were times when she got emotionally choked up with tears of joy, expressing deep gratitude for all of the bids and supportive energy. As bids increased, everyone was celebrating in disbelief of what was happening. This is a new disruption of the music industry. The deal she has signed is with the metaverse, which is good enough. The auction ended up securing a heavy bag with 10+ ETH stuffed inside = $30k USD in 24 hours for honest work! HUGE accomplishment!
What we saw in Latasha’s auction is called capital formation via PartyBid. PartyBid enables what NahRabbits calls “Pop-Up DAOs”, instant community capital formation, ready to do the damn thing, and then everyone disperses into the metaverse.🎇
Who won the auction?
The anonymous bidder who bought Latasha’s NFT music video for 10.3 ETH was a person named @yemyem0x.
What Latasha fundamentally understands is if you’re an independent artist, you need a crypto/web3 strategy. Our take is your NGMI (Not Gonna Make It) if you don’t have a web3 strategy. Web2 is saturated as shit with no true ownership for your contributions online.
Web3 is the new space to reinvent yourself as a creator/brand, build a loyal community, support others, own what you create, and make “a whole lotta money in this motherfucka” like rapper Bia states.
Flip the Bag…..
If ETH meets the speculated $10k per coin this bull cycle, Latasha will bring in a cool $300k (if she holds on to it). That would be the equivalent of holding 100 ETH in today’s value. 🤯 What if an artist takes their ETH earnings to leverage Defi lending protocols like AAVE? Or sends their earned ETH to a staking contract to gain more ETH? There are so many ways to flip the bag in the crypto space.
It’s pure alchemy. ✨
Web3 is uncharted territory, ready for wild exploration. There are NO rules here. Anyone who has their content ready ⏤ whether it’s photos, music, art, books etc. ⏤ should get their Crocs or Yeezys wet. If you don't have a non-custodial wallet, it's time to get one with Rainbow Wallet, Metamask, or any of the others! Having a non-custodial wallet is like your digital passport to transact in the web3 metaverse. Be a part of these internet communities by showing support and contribution. Real Shit!
We will be putting together more content like this as time goes by. We plan to get super deep into the trenches with some of these protocols to share how to leverage them with our community, just as Latasha did with PartyBid.
Thanks for reading,
-NahRabbits
Follow us on Twitter @nahrabbits.