Scoops of the Week 🍦

🍦Solana Hack leads to wallets being drained

🍦Ape Coin now accepted in Gucci and Tag Heuer

🍦Domain purchased for $15m

🍦Michael Saylor steps out of CEO role

🍦Recession heads for Britain

Solana Hack leads to wallets being drained

Approximately 9000 Solana wallets have been hacked leading to sums in excess of $6m being stolen.

The actual cause of the hack is yet to be determined with early rumors suggesting that the wallet provider Slope sent seed phrases to external partners. Slope has since released a statement explaining this is not true.

This stance was backed by Solana Labs CEO Anatoly Yakovenko who stated that the blockchain hack affected hot wallets that use Apple's iOS operating system.

We are still unsure of the cause of this hack all we do know for sure is that people’s wallets are continually being drained and more wallets are being hacked by the minute.

We would like to remind our readers that having a backup cold wallet is a wise move. As this space continually evolves and we are seeing more crypto being exchanged there will be an increase in the number of hacks and certainly an increase in the sophistication in the process.

The team here at scoop use ledger for our cold wallets - we attach a link here for your consideration (this is not a paid ad)

Gucci and Tag Heuer now accept $APE Coin

Previously you could just use your Ape Coin to buy all things Yuga Labs…..well now you can treat yourself to luxurious items from both Gucci and Tag Heuer (for Tag it is in relation to the TAG Heuer Connected Calibre E4)

The announcement was made this week that Ape Coin will be accepted in the above retailers and certain individuals wasted no time in parting with their coins.

This announcement means that 70% of Gucci’s retail stores accept over 10 different cryptocurrencies as payment across the U.S. through its solutions partner BitPay.

In terms of the coin itself, it’s on a positive track with the 1 month low being $4.20 and the current price sits at $7.30. With the next land sale coming this year we may soon see the heights previously reached.

Domain purchased for $15m

Many solid investments were made back in the .com boom when individuals strategically acquired top domain names….. well arguably the largest domain that will feature in our space “NFTs.com” has been bought for $15m

The deal was brokered for an undisclosed buyer by Domainer and GoDaddy.com, whilst being facilitated by Escrow.com.

Plans for the domain are yet to be confirmed publicly however Domainer did confirm that the buyer is not new to the space, they already have interests in other web3 projects, such as DigitalArtists.com, which offers a curated web3 service to artists.

Whilst we are referring back to what we told you one month ago, don’t forget our other advice…….huge opportunities lie in ENS domains and .com domains……if you can rev up that brain & think of an ENS name with future high-value that’s not yet taken, then you're sitting on a gold mine

Michael Saylor steps down as CEO of Microstrategy.

We have previously told you about Michael Saylor's company MicroStrategy (MSTR) (which develops software to analyze internal and external data in order to make business decisions and to develop mobile apps) holding a $1bn dollar loss on its Bitcoin portfolio…… well Mr Saylor has sailed from his CEO role.

In a released statement Saylor stated that “I believe that splitting the roles of Chairman and CEO will enable us to better pursue our two corporate strategies of acquiring and holding bitcoin and growing our enterprise analytics software business. As Executive Chairman I will be able to focus more on our bitcoin acquisition strategy and related bitcoin advocacy initiatives, while Phong Le will be empowered as CEO to manage overall corporate operations,”

So just in case you had any doubts, he may have left his position as CEO but he is certainly not splitting up with his love affair with Bitcoin as he undertakes his new role as Chairman.

Recession heads for Britain

In a bleak day of news for the UK it has been announced that a 5 quarter recession is on it’s way as the Bank forecast GDP to shrink in every three-month period from October 2022 to the start of 2024.

How has this happened? The immediate blame from the Government lies with the ongoing war between Russia and Ukraine as well as the Covid aftermath.

The Impact - With inflation set to rise to 14% this will place a financial squeeze on the general public. Wages will not be able to keep up with the rising costs of living so it is imperative that sensible financial decisions are made when trading on the market.

What does this mean for the market? It’s always worth remembering the immediate market dumps happen before recessions are actually announced, and they often recover well in advance too. This is due to data being backward-looking whereas markets are based on a forward-looking structure. This makes the timing of decisions quite difficult but the opportunity to make financial gains does remain.

Tying in with the Crypto world - As we are still in the bear market with coins being down on previous years’ highs, we feel it’s a good time to continue Dollar cost averaging into solid projects.

Scoop’s Weekly Winner 🏆

We haven’t stopped talking about them and if you invested in one when we first mentioned it neither would you!

This weeks winner is The Goda Mint Pass.

Remember….. the pass offers holders of the NFT exclusive access to Goda artists and drops by giving holders priority mint and allow-list opportunities for all Goda artist drops.

Collections of over 5000 items will give NFT holders 2 mints. Any collection of 1500 - 5000 will give holders 1 mint and anything less than 1500 will be treated on a case-by-case basis.

This time last week you could have picked up a pass for 6.5 ETH……. you’d be laughing all the way to Mr Fox on Metamask if you flipped one as the price shot to a high of 11.9 ETH during the last 7 days before leveling off at 10.2 ETH.

Even if you were to still be holding onto the asset, a gain of 3.7 ETH would have been achieved over the last 7 days with the potential of a 5.4 ETH profit presenting itself over the period.

They are going to need a bigger trophy cabinet, well deserved weekly winners.

REKT SECTION 😡

At a time when they announce a recession is on its way the last thing we needed was a jump in regulation….. well it looks like that’s happening too.

APPG…..welcome to REKT

A multi-party group of UK lawmakers has been tasked with starting an inquiry into the UK’s crypto industry with the main focus being on……. regulation.

At a time of complete volatility, the last thing we all need is the dreaded R word, the beauty of the space was to be de-centralized but we can’t be having fun without the authorities….. that’s how it works, doesn’t it?

The chair of the group released a statement that read as follows “it’s vital the UK does not take its foot off the gas and that government and regulators keep to their commitment when it comes to crypto and digital assets”

Cheers lads, nice one….. no Christmas card from us this year though!

Featured Project

Bubbleworld - Baby Gators 🐊

The Baby Gators is the first PFP project to launch within the Bubbleworld ecosystem. Now what is the hell is Bubbleworld & what are the Baby Gators? Let’s take a swim and find out.

The Bubbleworld ecosystem is a curated set of NFT collections developed by the world’s best creators who focus on building extraordinary communities & prioritize gaining with their community rather than taking value from them. This dynamic project launched on June 16th, 2022, and minted out blisteringly despite a terrible bear market. The Bubbleworld Founders Pass is the key to getting the most out of Bubbleworld and Bubblehouse, the platform that is behind the collective. Against the backdrop of crumbling market conditions, Bubbleworld & the Bubblehouse platform choreographed an impressive campaign and positioned themselves as an established player in the space.

Bubblehouse is the first-of-its-kind NFT social marketplace that recently raised $9M in seed funding, backed by SV Angel, David Guetta, Moonpay, among other VCs and strategic investors. Bubblehouse aims to ease the process of stepping into web3 both on the creator and the collector side. This marketplace will be home to some of the world’s biggest NFT drops across many different categories, including art, athletics, hospitality, music, and fashion. Despite only recently getting out of the beta stage, 500k NFTs have already been collected through the platform.

As a holder of a Bubbleworld Founder’s Pass, you gain exclusive access to amazing benefits including IRL events such as the NFT.NYC Bubbleworld party, which was headlined by Future, whitelists to future collections launching under Bubbleworld, platform-wide discounts, and other continuous surprise benefits. Some of the holders were even flown out to NYC to attend the NFT.NYC party!

The Baby Gators is the first PFP project to launch within the Bubbleworld ecosystem. The artist behind the project is Chow Hon Lam, who started Buddy Gator Comics, a comic page that includes the Baby Gators, over 2 years ago and has successfully built a strong following & fanbase for the his stories and art. They have amassed 1 billion views on GIPHY, 680K followers on Instagram, 92K followers on Facebook, and 13K Followers on Twitter. On top of the numbers, they have secured some incredible brand partnerships with the likes of Uniqlo, Stella McCartney, Brooklyn Beckham, and more.

It is time for the Baby Gators to snap into the web3 swamp with the launch of its PFP collection which aims to forge deeper connections & value with their already vast community of Gator lovers.

The Twitter profile of @TheBubblewrld is currently home to the Baby Gators. They managed to acquire a strong & engaged following of 99.7K followers and are followed by some notable projects & collectors in the space, including, Imaginary Ones, The Doge Pound, 9gagceo (Ray), and ryandcrypto which reflects the strong conviction from the community.

The team behind Bubbleworld is deep in the works of continuing to improve the Bubblehouse user experience & working with web2 & web3 brands to help onboard both them & their communities onto the platform.

With strong investors, an engaged community, and high-quality artwork we are excited to follow the journey of Bubbleworld, Bubblehouse & the Baby Gators

Official Links:

Discord 

Twitter

Bubblehouse

Disclaimer

The NFT Scoop newsletter or podcast is not financial advice, it is provided for educational, informational, and entertainment purposes only.

NFT’s can be highly illiquid markets, causing sharp drops in prices due to changes in narratives and trends.

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