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Hey there 👋,
In this week’s newsletter, I discuss:
A beehiiv newsletter raises $2M
AI .com domains selling big
Profile pic NFTs lose billions in market cap
Cheers!
Richard Patey - @richardpatey
DIGITAL MEDIA
Sara Fischer, senior media reporter for Axios, announced that the fantasy football media property Fantasy Life, by Matthew Berry, has raised $2M from entrepreneurs, athletes and investors.
Investors with ‘specific expertise in building newsletter businesses’ are the Morning Brew co-founder and CEO Austin Rief who joins the board, along with theSkimm co-founders, as well as Workweek CEO Adam Ryan (mentioned in last week’s issue).
Fantasy Life launched as a daily email newsletter in 2020 to promote its merch but then:
…has since evolved into the anchor of a sizable media business, with 350,000 email subscribers and more than 2 million unique visitors visiting fantasylife.com per month
Its audience has made it a seven figure business from selling sponsorships, and has 13 full-time staff.
But the best bit is that its newsletter is on beehiiv as Tyler the CEO posts:
DOMAINS
A few issues ago, I featured how domains with crypto at the start were selling for big money. This week it’s AI at the end that has been doing well in 2023, in particular photoAI.com for $40K:
The buyer of which is Pieter Levels who has made a big ROI from AI domains by building actual businesses out on them:
CRYPTO
Sam aka Punk 9059 aka NFTstats shared a chart yesterday showing that over the last 6 months there has been a $2.2B (yes that’s a B) decrease in the market cap of major NFT profile picture projects (PFPs):
BAYC has seen the biggest decrease, peaking at 76ETH before dropping to its now 28ETH floor:
In USD terms, that’s a $77K drop from $129K to $52K today.
CLASSIFIEDS
Digital Asset Investor Manual is becoming the most comprehensive guide to investing in digital assets. It’s now at over 7,500 words (no fluff), plus screenshots and videos, all for just $17. Check it out
beehiiv was founded by some of the earliest employees of the Morning Brew. You get built-in referral functionality, customization, and analytics where you can see the results of paid acquisition. Check it out*
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Disclaimer: Nothing in this email is financial advice and I am not a professional investment adviser. I send weekly updates on digital asset news and what I'm doing personally - consider it informational and for entertainment purposes only.