GM Scoop Family. You've been missed. Now let's dive in.

🍦STATE OF THE MARKET

Well Jamie Dimon CEO of JP morgan beileves the US and wider globe will head into a recession in the next 6-9 Months and second to that Opensea has hit its lowest traded volume in 9 months. So where do we begin 😂

As discussed previously, the global economy has a knock-on effect of the more 'risk on' assets such as Crypto & NFTs, so should the wider macro become less favorable the chances are crypto & NFTs will take a beating. Jamie Dimon, CEO of JP Morgan has said that the US economy at the moment is actually doing quite well, but it faces a serious mix of headwinds that could tip the scale and send there the US into a serious recession in 6-9 Months. The 'Headwinds' include; runaway inflation, interest rates going up more than expected, the unknown effects of quantitative easing & Russia's War in Ukraine. He also stated we could see the S&P 500 (Index of the top 500 US companies) drop another 20%.

This will naturally have an effect on the crypto markets & subsequently the NFT markets, what it has highlighted tho is the issues that we face in the current 'Fiat Banking system' and is long-term bullish for both Bitcoin and Ethereum. Bitcoin being a hard finite digital form of gold and Ethereum now coined 'The internet bond' by Raoul Paul, is on the verge of becoming deflationary. Further drops in the crypto market open up the opportunity to dollar cost average into Blue chips like Bitcoin & Ethereum at heavily discounted rates and capitalize on some serious upside when the macro economy changes tides into a bull cycle. Another note to add, drops in $ price of ETH, especially in more bearish times offer the opportunity to buy NFTs at a discount, so we recommend looking out for blue chips on sale. Out of all of them, we believe Mutants Apes are a surefire bet, though you can likely bide your time and find your perfect entry point.

🍦SCOOPS OF THE WEEK

🍦Celsius List Revealed Detailing Individual Losses

🍦De Gods Latest Experiment

🍦Opensea Volume Hits New Low

🍦44 of the Top 100 Companies Actively using Blockchain

Celsius List Revealed Detailing Individual Losses

We trust you are all pretty clued up in all things Celsius concerned and are aware that with every update we share the news seems to get worse.

In the latest court filing for their bankruptcy proceedings, Celsius was ordered by the judge to publish the full name and recent transaction details of every user.

A website was launched detailing how much each individual has lost with the now-bankrupt company with the top individual showing losses of over $40m.

Using the top individual as an example, he (we assume) has had to part with over 2084 Bitcoin.

Each individual portfolio is shared on the website with a breakdown of where the investments were apportioned.

If you want to check out the website, you can do so here.

DeGods Latest Experiment

It was only 1 month (8 newsletters ago) when we did an extensive piece on De Gods and the Dust Labs group generally. Our feelings have not changed much, and let us remind you... momentum is building for the Degods Ecosystem. Frank De Gods has displayed quality leadership following the mint and has so far built a strong reputable web3 brand & community.

The latest update is that the project has lowered royalties on De Gods NFTs from 9.9% to 0%... would have been easier for us just to say they have got rid of them.

What does this mean?

It's caused a bit of a rift between the community and wider space in general.

On one hand, you've got the argument of the determination of projects to create a sustainable model being more careful with funds. 0% royalties also allow for more free trading of the project's NFT.

Alternatively, royalties create an aligned incentive between creators and holders. Creators get to earn on every sale, and holders get to fuel innovation in a project they care about. Also, a major concern, more rug pulls may occur as creators run out of funds

Our View - We remain pretty much as we did last month. There is the potential for the project to become the BAYC / Yuga Labs of the Solana world. They are really strong innovators and have the Solana / winder community grasped with every move. It's still very early days and their potential cannot be written off.

Opensea Volume Hits New Low

We know it's a bear and things are in a bit of a turbulent fashion, the latest statistics reveal it may be a bit more turbulent than we anticipated.

Sunday 9th October proved to be the lowest volume traded day in 15 months as total volume was $8.4m.

Of course, it's not fair to compare with the bull we witnessed earlier in the year but for context, we saw $543m of volume traded on May 1st and as a whole, the month of April did $3.5bn.

As things are in the state they are, just keep your eyes peeled, what the low volume indicates to us is that there are more missing out on the gems than getting them. Grab the bull by the horns and hunt.

44 of the Top 100 Companies Actively using Blockchain

Every other week we feel as if we are telling you about the latest company to enter our space or what trademarks have been filed, as each day passes, another one joins us. But how do things look from the prospect of the top 100 companies?

Well, according to CBS Insights there are currently 44 of the top 100 companies who are actively using Blockchain since August 2021.

To no one's surprise, technology companies are in the lead closely followed by consumer/retail and basic materials in joint 2nd.

With almost half of the top 100 companies in the world using Blockchain already, the way Web 3 is going we expect this to rise rapidly over the next year, just make sure you keep checking out our news section to see what next big hitter decides to join the invevitable.

His decisions have caused controversy but to be a successful entrepreneur that's probably the most basic analysis that's going to follow you.

Controversy can be interpreted as being brave, stupid, both, or anything in between.

We have chosen this week's winner based on a decision made that has got many of us talking and could shape the future of NFT projects.

Frank De Gods ... Come collect your trophy.

As you will have read above, he made the call for 0% royalties on De Gods. It's important to realise that Frank has made such a success thus far of the project he can afford to make this call as they have accumulated income & also raised capital from VC (Only a handful of projects can say this).

The question of not making anything from royalties from now on is a valid one however this move leaves Frank & Degods no choice but to adopt innovative sustainable revenue models. Dust Labs recently raised $7m from a seeding fund, we imagine there are plenty more in store.

The knock-on effect for the community is that there will be fewer fees for them, trading may become more regular, and it will keep the project in the charts and constantly trending, this leads back to point one regarding revenue models.

This 0% royalty idea is an idea that is a bit like marmite, some love it and some hate it, however if this catches on it could be a long term positive for the wider market, especially us investors.

As a pioneer of our world who is certainly a leader and not a follower, he is continually making decisions he feels are right and will be beneficial to the project and its members.

Who are we to judge him? all we can say is we won't be writing him off, actually the opposite so Frank, come collect your trophy.

THE REKT SECTION 😡

Using our world for clout or to get a few people engaged due to the bullishness of us as a whole to then just disregard.

Marketing ploy gone bad or is something on the way?

Whatever happens this company didn't excite us with this one purely becomes they referred to NFTs as a bandwagon, cheap dig at the utilities on offer.

IHOP welcome to REKT

The pancake house hinted it was dropping it's first NFT but instead it turns out they were referring to New French Toast instead of an NFT.

One positive we can take out of this one is, there is no denying NFTs, Web 3 and the Metaverse is the future so at least there was some form of acknowledgment about where the world is heading.

INTERESTING THREAD 🧵

MONSTER NFT PURCHASE 👾

This Fidenza just sold for 105 ETH! The buyer was Markkat.eth who is considered a "Super" Blue chip holder!

WHERE WOULD WE BLOW $ETH?💰

Not financial advice you know the drill!

Probably a label

Probably a Label made our whats dropped section last week and we think it's a great opportunity for a long-term hold. As always in this market, it's important to focus on projects with long-term potential that can weather the storm of a bear market. We also love the fact that 'Probably a Label' fits exactly a narrative we have been bullish on. Disruption of the music industry with NFTs & Web3.

The Head of the project Jeremy Fall is a well-connected individual, second that the project is a joint effort between himself & Warner Records. From what we can see, it looks like the holders of the NFTs will receive music NFTs of artists who launch on the Probably a Label platform, which is they are exclusive to Probably a Label, and go Platinum or Viral, you'd think that said airdropped music NFTs would hold a lot of value which in turn if the project 'Probably a Label' can partner with fresh, upcoming popular artists you would again think their genesis NFT would grow in value you too.

At just 0.12 ETH floor it ticks a lot of boxes and it plays into a longer-term narrative that we have held for a while.

ALPHA

SLEEP.

Yesterday marked World Mental Health Day 2022. So our alpha to you is Sleep, no not some new 'Sleep to earn' Project (Wouldn't that be great). No No.. real good old fashion IRL sleep.

Sleep is one of the core components of mental & physical health. One thing we can thank this bear market for is the ability to create a strong sleep routine, something that was almost impossible in the Bull. We had to wake up in the dead of night for mints, grind on discords for whitelists, the list goes on.

Welcome a proper Sleep routine in this bear market, improve you productivity & in turn allow you to level up your skills & become a better participant in the NFT market

🤡 WHOEVER CONTROLS THE MEME CONTROLS THE UNIVERSE

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.