GM to the 66 new readers who joined this week. Again another huge week in Web3 land. Without further ado. LFG

SCOOPS OF THE WEEK 

⛓️ NFT’s

• DeGods Art Downgrade

• Coca-Cola Launches Collection

• Sotheby’s Named As Defendant In NFT Lawsuit

👨‍💻 WEB3

• FC Barcalona Sees €120m Web3 Investment

• Zynga Launches Web3 Game: Sugartown

• Dubai Licenses Attract Web3 & AI Businesses

🪙 CRYPTO

• Evidence is piling up for a new crypto Bullrun

• SEC sets further delays for US-based ETF

• Europe beats the US with live Bitcoin ETF

• SBF donated stolen customer funds to politicians

• Trump has more crypto than most degens in the space

🏆 SCOOP PREMIUM

• This revenue-generating MEME coin is exploding!

• New Layer 1 could be the nest hunting ground for NFTs. + Low-cost meme NFT project we have discovered.

⛓️ NFT’s

• NFT Total Market Cap $5.65B - 24/hour change -0.74%

• Volume Traded 24/hours - $14.5M +53%

  • Well Since the DeGods season 3 ‘Downgrade’ update from Frank, the floor has done a bloody nose dive. The project now sits at 4.3ETH. TBH we love DeGods and we can’t help be feel these are a steal right now. Anyone else?

  • Whales seem to think so, with 180 being bought in the last 24 hours from whale wallets.

  • Despite Punks & Apes, there is just 1 PFP above 5ETH which is MAYC.

  • Sproto Gremlins have mooned up further, sitting at a cool 1.75ETH. we mentioned a couple of issues ago in the market update. This is PFP linked to the HarryPotterSonic10Inu token.

  • We have always been fans of Memes and right now it looks like the money is being made in the ‘Meme’ meta.

  • Milady Maker, another part meme type degenerate NFT is also boasting healthy price action at 4.65ETH and have printed a very healthy-looking chart.

  • Something interesting to look forward to is ‘The Kingdom of Laughing man’ reveal is due tomorrow.

  • A tide is turning in the NFT market. a Bloody mess from some, but you will look back on the moment. Carnage is a breeding ground for opportunity.

Whales Are Scooping up:

• DeGods - Notably nearly 200 in the last 24 hours

• Sproto Pepes

• Himalaya

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• Find out why it has risen from the ashes and the reason Degens think it has the potential to 20X from here.

• Get the low down on a new low-cost NFT project on the latest Layer1 chain. Is this the new hunting ground for NFTs

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DeGods Art Downgrade

At a glance 🔎 

• The team announced on Twitter that they needed to make DeGods “fun”

• The collection, which had a luxury update last week has completed a full 180 and every item has had all details reduced to the bare minimum.

• The move has seen the floor price take more of a tanking and is now down to 5.78ETH

  🕵️ Scoops take:

Whatever changes the team was implementing, FUD was going to immediately follow.

It was almost a lose-lose situation for them.

The move last week may have been made to break the initial FUD and then the Downgrade waiting in the wings as the long-term plan, but it is fair to say it has backfired based on the floor price action that has followed.

Despite being just short of 4 ETH down in the last 2 weeks, from 9.44 ETH to 4.4 ETH, it has allowed those a much easier entry point into a proven project.

We wouldn’t be dumping Frank just yet, from our perspective DeGods seems like one of the best risk-reward opportunities in the space right now. They are still fresh, still current & personally, we love the art. But what do we know?

One thing is for certain, we wouldn’t be fading Frank just yet.

Coca-Cola Launches Collection

At a glance 🔎

• The soft drink giants have announced the launch of their “Masterpiece Collection.”

• The collection will bring both classic and new art pieces printed on Coca-Cola bottles.

• The collection has been launched on Coinbase’s layer-2 network, Base.

  🕵️ Scoops take:

This is a clever move from the company as they are using an already successful industry as a tool for collaboration.

They have virtually unlimited funds to unleash on NFT/Web3 ventures so it is positive they haven’t waited too long to get involved.

The NFTs have an amazing variety that should cater to a huge amount of potential investors so we expect these to be successful.

Should you wish to purchase one of the NFTs click here.

Sotheby’s Named As Defendant In NFT Lawsuit

At a glance 🔎

• The lawsuit, which was primarily against Yuga Labs, has added the auction house as another Defendant.

• The lawsuit centers around allegations that Yuga Labs misled investors in the marketing of BAYC NFTs.

• Sotheby’s involvement is based on the stamp of approval of the collection.

  🕵️ Scoops take: 

It’s an ongoing legal matter so we cannot say too much on the topic but Sotheby’s have come out quickly to say they are prepared to defend themselves and the allegations are baseless.

Taking a deeper look into the allegations, it stretches back to 2021 when 101 BAYC NFTs were sold by the auction house for $24.4m with the estimate being $12-18m.

Again, it is not for us to say that the allegations are baseless or not but it is worth bearing in mind that it does not take a genius to work out where BAYC started, where they went, and where they are currently.

The bear or the bull market may have a lot to answer for but we will just have to be patient and see if another legal precedent is set.

X OF THE WEEK

🌐 WEB3

FC Barcalona Sees €120m Web3 Investment

At a glance 🔎

• FC Barcelona secured €120m for a 29.5% stake in its web3 entity, Barça Vision, from LIBERO football finance and private investors; also plans a U.S. SPAC listing for Barça Media.

• Barça Media, valued at $1 billion, excludes TV sports rights but covers Barça eSports, the web3 and metaverse division (with Roblox and Unity partnerships), and Barça Studios for audiovisual content.

• Despite past web3 challenges, including a canceled NFT deal in 2021, FC Barcelona continues to expand in the digital realm with new investments and strategic partnerships.

🕵️ Scoops take:

FC Barcelona's venture into the web3 space underscores a broader trend of traditional institutions recognizing the transformative potential of digital technology. By securing significant investments in its web3 entity, Barça isn't just embracing an emergent sector but signaling a future where sports, entertainment, and the metaverse converge. However, as with any frontier, challenges like the club's past missteps with NFTs highlight the need for due diligence. Yet, their resilience, combined with the decision to merge web3 investors into a broader media holding, points towards a vision that goes beyond short-term gains — it's about pioneering a holistic digital future in sports.

Zynga Launches Web3 Game: Sugartown

At a glance 🔎

• Social gaming beast Zynga launches "Sugartown," a Web3 game built on the Ethereum blockchain, blending traditional gameplay with Web3 elements.

• Players use ERC-721 Ora tokens to participate, earning "Sugar" in-game currency for benefits.

• Zynga collaborates with blockchain-focused Forte, emphasizing regulatory compliance and ethical game economies.

  🕵️ Scoops take:

Zynga's shift into the Web3 space with "Sugartown" is more than just a game launch; By melding classic gameplay with cutting-edge Web3 mechanisms, Zynga signals a future where gaming transcends entertainment, venturing into realms of tangible digital ownership and investment. Their partnership with Forte further shows a commitment to ethical and compliant digital economies, suggesting that as the gaming world converges with blockchain, the emphasis will not only be on innovation but also on ensuring a balanced and fair environment for players. This could redefine gaming's future, making it more immersive, rewarding, and impactful.

Dubai Licenses Attract Web3 & AI Businesses

At a glance 🔎

• Dubai's Initiative: Dubai will issue commercial licences for AI and Web3 companies, with a 90% subsidy, to boost the sectors and transform into a digital society through the AI and Web 3.0 Campus.

• Campus Goals: Launched in June, the campus aims to become the MENA region's largest AI and Web3 hub, targeting over 500 tech companies, $300 million in funds, and 3,000 jobs within five years.

• AI and Web3 Potential: AI could contribute $15.7 trillion globally by 2030, with Web3 expected to add $15 billion annually to GCC economies by the same year.

🕵️ Scoops take:

Dubai's aggressive push to become a digital society powerhouse, especially by providing a robust foundation for AI and Web3 companies, underscores a broader global shift. Recognizing the transformative potential of decentralized technology, Dubai isn't just following the Web3 wave; it's positioning itself as a hub, a catalyst for innovation. As mainstream adoption of blockchain and AI technologies gathers momentum, other nations and metropolises will likely take cues from Dubai's blueprint. The convergence of these technologies promises a digital renaissance that will reshape economies, and those who sow seeds now, like Dubai, are poised to reap the most profound benefits.

🪙 CRYPTO CRUNCH

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• Crypto Total Market Cap $1.17T - 24/hour change -1.09%

• Total Crypto Volume 24 hours - $25.96B - Change -7.33%

• Meme AI Utility token is up 10X in a week

• Dump the Ponzi, you hear them cry! “Traders looking for Bitcoin to retrace”

• $28.3K is the level some are looking for, if that fails to hold then 27’s are on the cards. This isn't a bad thin & to be clear we are very bullish in the mid to long term. Just right now we are seeing crabby ranging chop as opposed to ‘Up only’.

• A lot of the big gains at the moment in crypto are being made ‘Onchain’. This is when buyers trade tokens via Metamask and use DEX’s rather than centralized exchanges like Binance. This is common when the market is outside of trending movements.

• The plan remains the same for us. Mid to long-term bullish as mentioned, Institutions are getting hungry and this is the only industry you can front-run before they are allowed to invest.

• short-term, we are cautious, we have to exit this range-bound period of chop before we see real momentum to the upside. If you play around too much in choppy waters, you risk fumbling the bag.

• Patience is key. Don’t get sidetracked. Stick to your strategy.

  Crypto narratives to focus on this summer

• - AI Tokens

• - Telegram trading Bot tokens

• - GambleFI

• - Revenue Sharing projects

• - Decentralised Exchange Tokens

• - Liquid Staking derivative projects

• - Metaverse & gaming tokens

• - RWA - Real-World Asset tokens

• - Cross Chain Projects

Top Stories

• Evidence is piling up for a new crypto Bullrun

• SEC sets further delays for US-based ETF

• Europe beats the US with live Bitcoin ETF

• SBF donated stolen customer funds to politicians

• Trump has more crypto than most degens in the space

😡 THE REKT SECTION 😡

WAGMI UNITED

The company that owns the English football/soccer club Crawley Town is set to disappear.

They were a US-based Crypto firm that tried their best to incorporate NFTs and Web3 into the football/soccer world by introducing shirt sales by NFTs as well as other club benefits.

Well unfortunately for WAGMI the last team member has left Discord.

Minority investor, Gmoney has come out and said that management has basically shut down communication with investors so they are unaware of what has happened or is happening.

Turns out, this one was just a slow rug.

🏆 WEEKLY WINNER 🏆

BASE

As you will have read above, they have recently been chosen by Coca-Cola for the launch of their project.

That story, however, is not the sole reason why they are in this section.

It was only launched last week and it has already emerged as a top NFT platform and is currently ranked 3rd for transfers.

The transfer volumes already surpass those on Arbitrum, Avalanche, Optimism, and direct Ethereum transfers.

The total value locked (TVL) on the chain has surged to just under $200m and this is not just a simple case of new users, this is seasoned pros loving the platform.

It is hard to say whether this has just been an incredible week with all the new projects launching (obviously bringing about a lot of traction) or whether it is unsustainable.

What we can say is that they have come and certainly made themselves known.

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