GM frens,

It's been another interesting week in Web3.

Last week we touched upon Moonbirds decision to adopt CC0, however, in today’s edition of The Ground Floor we will be breaking down the 4 most successful NFT projects that have adopted CC0.

The 4 Best CC0 Projects

Breaking down the most successful NFT projects that have adopted CC0...

Success comes in many different shapes and sizes in the Web3 World.

Nonetheless, the following 4 NFT projects have at least one thing in common — each of them chose to adopt CC0 for their collections.

What Is CC0?

CCO (Creative Commons) = Legal document dedicating a copyrighted work such an NFT collection to the public domain.

In the case of NFTs, this allows anyone to use the artwork from the NFT collection without having to obtain the permission of the project.

This could come in the form of physical merchandise, or in some cases — a derivative NFT collection based on the original artwork.

Leading The Way

There’s a growing list of successful NFT projects that have adopted CC0.

1) Nouns

One of our favorite NFT projects is NounsDAO.

While Nouns consists of 10,000 NFTs, only one noun is minted and auctioned off daily.

With this rate of issuance it will take 27+ years to sell out, however, to date, the NounsDAO has collected over 30,000 ETH, with the lowest priced Noun currently costing 95 ETH.

With 30,000 ETH in their treasury and the support of brilliant creative minds such as Jack Butcher and Gremplin and many others, we are very bullish on the future of Nouns.

2) Moonbirds

Two weeks ago, Kevin Rose announced Moonbirds were adopting CC0.

In the time since this decision, the floor price for Moonbirds has fallen, however, even with this 33% drawdown the lowest priced Moonbird is 12.5 ETH.

Backed by the PROOF collective who raised 17,500 ETH ~ $42 million at the time when they sold 7,000 Moonbirds for 2.5 ETh each, this five month old NFT project currently ranks as the 9th most successful NFT project by sales volume.

Much of this demand has been fulled by the success of the parent collection, the PROOF collective where holders have received more than $100,000 in airdrops to date.

PROOF remains tight-lipped about what will come next for PROOF and Moonbirds holders, however, there’s growing anticipation that PROOFs next project is an app called “Project Highrise” that Moonbirds holders will gain access to.

3) Goblintown.wtf

Goblintown.wtf is one of the most interesting NFT projects to emerge in 2022.

What started as a free mint in May 2022 has since turned into a project with a cult-like following from people who promote the project by speaking & writing like goblins online.

This rather odd, but bold social media strategy has made people take notice.

Building on their early success, the project followed a similar playbook to BAYC to date, issuing a companion collection to reward token holders, and there remains much excitement within the Goblintown.wtf community as to what will come next for this project.

4) Cryptoadz

Cryptoadz reached an all time floor price of 13 ETH in October 2021.

Although we don’t define the success of NFT projects by their all-time high historical floor prices, the historical floor prices of NFT projects does offer a snapshot of the supply vs demand dynamics for these projects in the past.

In the case of cryptoadz, in the lead up to reaching a floor price of 13 ETH — there was a growing community of people creating funny memes on Twitter with cryptoadz, much of which was made possible by cryptoadz adopting CC0.

During this time, it would have been difficult to spend time on the Web3 community on Twitter without having seen a cryptoadz related meme.

This rapid increase in brand awareness resulted in the price of these NFTs quickly appreciating, and although we remain bullish on what this project can become – it’s worth pointing out that little progress has been made in recent months.

Looking Forward

It looks very likely that more & more NFT projects will adopt CC0 in the short term, however, it remains to be seen if this model will yield better results than brands retaining the exclusive rights to use their IP in the long run.

With both Moonbirds and NounsDAO having as much capital as they do, accompanied by more & more creative talent working on these projects – we are very excited to see what example they can set for the successful use of CC0 to win in Web3.

While we don’t think the success of CC0 in the Web3 world depends on the success of these specific projects, their success would undoubtedly drive further adoption of CC0.

3 Things You Need to Know

1) Reddit Puts Their Points On Chain

Reddit is slowly going all in on crypto.

The startup founded 17 years ago announced they are putting their Karma points system on chain, using Artbitrum’s Nova chain.

It will be interesting to see both the immediate reaction & long term impact this has on regular Reddit users who may not appreciate crypto as much as the company's founder.

Alexis Ohanian, Reddit’s co-founder, is a very prominent investor in Web3 having led Doodles most recent round, in addition to leading the $10 million investment into PROOF.

2) CryptoDickButts Fly High

NFTs might be down, however, CryptoDickButts – another NFT project that started as a joke is soaring to all time highs for reasons few can articulate.

While we appreciate these memes as much as anyone, it's questionable if such success stories paint the Web3 world in its most positive light?

3) Cobie Takes No Prisoners

Prominent crypto trader Cobie, and co-host of the ‘up only’ podcast took no prisoners this weekend when sharing his thoughts on NFTs in a (fairly) disparaging way.

Cobie is one of the most followed crypto accounts on twitter, and his comments sparked a flurry of debate and discourse from both sides of the debate.

To see some high quality criticisms in the form of high quality memes this Monday, we highly recommend taking a look at Cobies Twitter activity from last weekend.

Food For Thought 💭

What are NFTs?

Although each of us can say with certainty that NFTs = non-fungible tokens, none of us can say with certainty what use cases will obtain the most adoption in the coming years.

Despite this uncertainty, what is becoming clearer by the day is that we are collectively spending more & more time online, and with this shift we are witnessing the emergence of "digital status goods" — enabled by NFTs.

Floor NFT Update

This past week Floor held its monthly Town Hall where we announced an App Pass Airdrop and many new features being added to the app. View the full recap here.

The good news? If you were holding a Floor token on June 9th you were airdropped a free fren pass to share with someone who you think should have access to Floor.

To date, the community has shared 1,000+ fren passes!

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See you next time! — OB1 & Pet & Corwin