Sentient completes 650K NFT mint, MegaETH’s soulbound NFTs: Nifty Newsletter
2025-02-13
Category: None

In this week’s newsletter, read about how the MegaETH project uses soulbound non-fungible tokens (NFTs) to provide ownership stakes in its network, and how the artificial general intelligence firm Sentient completed one of the largest NFT mints with 650,000 participants. Check out OpenSea’s response to rumors about its airdrop terms and conditions, and, in other news, NFT infrastructure provider Reservoir has raised funds to expand. 
MegaETH defies airdrop farming craze, dives headfirst into NFTs
Ethereum layer-2 project MegaETH revealed an NFT collection called The Fluffle, which grants network participants ownership stakes. The collection has 10,000 pieces and represents 5% of the MegaETH network. The assets are soulbound, which means they cannot be transferred. 
The NFTs will be sold and priced at 1 Ether, which means the collection could net the project around $28 million. MegaETH launched a soulbound collection because it avoids “invasive” Know Your Customer requirements, remains anti-Sybil and uses stringent Anti-Money Laundering procedures. 
Sentient completes record 650,000 NFT mint for decentralized “loyal” AI model
Open-source artificial general intelligence firm Sentient completed one of the largest NFT mint campaigns, with over 650,000 users securing fractional ownership of its decentralized artificial intelligence model, Dobby. 
Participants minted “Fingerprints,” NFTs requiring them to prove their humanity through a randomized IQ test. The effort aims to create a community-owned AI protocol. According to Sandeep Nailwal, founder of Polygon and a core contributor to Sentient, the first AGI should be community-controlled to “guarantee its loyalty.” 
OpenSea denies NFT airdrop rumors, calls website a test page
Community members flagged an OpenSea website containing terms and conditions for an airdrop. Users reported that the site included Know Your Customer and Anti-Money Laundering checks and implied that some countries may be barred from participating. This received backlash, with users expressing dissatisfaction online. 
OpenSea CEO Devin Finzer denied the rumors circulating on X, calling them “completely false.” The executive said that what the community saw was simply a “test website.” Finzer said on X that the terms and conditions shown contained “boilerplate language” and were not the actual rules. 
Reservoir, NFT infrastructure provider for Coinbase and MetaMask, raises $14 million
NFT infrastructure provider Reservoir, which caters to clients like Coinbase, MetaMask and Magic Eden, closed a $14 million funding round to expand its infrastructure to new marketplaces. The funding round was led by tech venture capital firm Union Square Ventures, an early investor in Polygon, Dune Analytics, Matter Labs, Arweave, Dapper Labs and Algorand.
The funds will be used for expansion and enabling more networks to integrate NFT trading. This also includes providing tools for indexing token images and data. 
Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.