GM to the 9 new readers who joined this week. Without further ado. LFG

SCOOPS OF THE WEEK 

⛓️ NFT’s

• Nakamigos New Collection

• SEC Charges Another NFT Project

• NFT Platform To Cease Operations

👨‍💻 WEB3

• FTX Approved To Sell Billions Of BTC ETH & SOL

• Metaverse Technology Coming To The Classroom

• North Korea Allegedly Using Stolen Funds To Bankroll Nukes

🪙 CRYPTO

• Binance loses another Chief Executive

• Coinbase earns $1M due to Hack - But hasn’t reimbursed victims

• Crypto now ready for Wall Street

🏆 SCOOP PREMIUM

• Hot whitelist application opens for bullish Web3 gaming project

• Influencers are minting this new NFT - Rarity your wallet on-chain trading activity

• Layer-1 Coin with Bullish Tokenomics - This is an easy 15X for the bull run.

⛓️ NFT’s

• NFT Total Market Cap $4.83B - 24/hour change -0.17%

• Volume Traded 24/hours - $7.6M -31%

• Trending NFTs over the past day and week have mainly sat in the Art category, which aligns with our prediction that Gen Art, for now at least will take center stage.

• If you haven’t already, then now is a good time to start familiarising yourself with the world of Generative Art if you are in the mood to purchase NFTs. Those out of all categories are still able to sell out & rise in Floor.

• This week, one of the notable moves was the Nakamigos crash in price after they announced their new collection, but holders would still be expected to pay to mint the second collection. They reversed this decision after backlash from the community. Holders will now be eligible for a free mint.

• The star of the show in Web3 over the past week has been Friend Tech, with daily fees exceeding $1M now, popularity is surging. The app built on Coinbase’s Layer2 ‘BASE’ has now caused ‘BASE’ to exceed the volume of Ethereum itself.

• There is certainly a bullrun happening over at Friendtech, whereby people are buying & flipping individual Twitter accounts of notable people. We expect this trend to continue & we probably have 1 month to capitalize. Below we have put a guide together on how to profit.

Guide to Profiting On Friend.tech 

Friend.tech is a platform that allows you to buy & sell users’ profiles in the form of ‘Keys’. Profiles are created when a user registers an account & links it to their Twitter. The premise of the Platform is that you buy keys of Influencers, thought leaders, and celebrities. When you purchase a Key, you then have access to a direct chat with your favorite influencer, thought leader, alpha caller, etc. The more popular the individual is on Twitter, the more valuable their keys are. Sounds simple enough right?

Degens will be degens and this caused a frenzy of account flipping, very similar to that of the NFT bull run in 2021. Players on the platform are profiting hand over fist. Why is it similar to the NFT 2021 Bul run? Pretty much any half-decent account that is created, similar to a new NFT minting is rallying in price. Accounts with no followers would be considered trash, Influencers are considered blue chips for example.

So how can you profit?!?.

Our How to Profit Guide is available for Scoop Premium Members. You can Unlock today with a 2-week FREE trial.

Nakamigos New Collection

The popular project has just announced a new upcoming mint. Taking place on the 21st of September, a new 20k collection named Cloaks will land. the cost for both the Early Access mint and the Public mint was 0.05 ETH. Following some brutal feedback and a sudden floor price dump, the project announced that the collection would now be free for existing holders.

At a glance 🔎 

• Following the announcement that existing holders would be paying the same mint price as the public, the floor dropped from 0.35 ETH to 0.2 ETH

• The floor recovered following the update to the mint price structure to 0.32 ETH before dropping back to 0.258 ETH

• The need for the new collection is receiving heavy criticism.

🕵️ Scoops take:

Whether this was a ploy to get some volume or floor price movement, the initial decision for the existing user price to be the same as the public price was crazy.

Having another collection, taking the total number to 40k does scream cash grab to most and it is hard to dispute.

At least we entered the Fall season with the consistency of a falling space.

SEC Charges Another NFT Project

The SEC settled its first enforcement action involving PFP NFTs. The accused was Stoner Cats 2 LLC (SC2) which is the company behind the Stoner Cats animated series. The SEC alleged that each of the PFPs was a crypto asset security so received the full hammer treatment. The company has agreed to a cease-and-desist order as well as a $1m fine and the return of $8m raised following the charge of conducting an unregistered offering of crypto-asset securities in the form of NFTs.

At a glance 🔎

• This project was spearheaded by Mila Kunis and the cast contained Ashton Kutcher, Chris Rock, Dax Shepard, Gary Vee, Jane Fonda, Michael Buble, Seth MacFarlane and Vitalik Butelin.

• The first episode premiered two days after the NFT sale which took place in July 2021.

• The project received a 2.5% royalty on every secondary sale and there were at least 10,000 secondary sales worth more than $20m

🕵️ Scoops take:

Yikes, the SEC is really hotting up their battle against NFT Projects and the latest is no better than the last…especially now they are targeting PFP-only projects.

The real worries lie with all projects, the SEC isn’t messing about and the vast majority could be in deep bother as the SEC has followed up this W for them with “under the securities laws, it’s the economic reality of the offering and not the labels you put on it”

Time to get hunting hard for the loopholes.

NFT Platform To Cease Operations

NFT platform, Voice, has announced they are going to cease operations. Regulatory roadblocks are the cited reason but no detailed reasons have been provided for why they are winding down. Block.one, the company behind EOS, invested a gigantic $300m into the project.

At a glance 🔎

• The company was initially set up to be a decentralized social networking platform before turning into an NFT creation and trading platform.

• Existing assets do remain secure and will have the option to migrate to EOS, Polygon or Ethereum in a few weeks.

• Assets will remain accessible on the platform until December 31st 2024.

🕵️ Scoops take: 

Earlier in the week we said this Bear market has been like a never-ending avalanche so this company won’t be the last to fall short.

Sometimes you hate to be right in predictions, but this lasted a whole 24 hours before another company decided it was time up.

Don’t allow certain companies that have failed to derail you from delivering a new service that could be the next big thing.

Remember, the cream always rises to the top.

Join the Scoop Gods and try Premium today with a free 2-week trial.

Premium Unlocks Today!

• Guide to profiting on FriendTech mania

• Hot whitelist application opens for bullish Web3 gaming project

• Influencers are minting this new NFT - Rarity your wallet on-chain trading activity

• Layer-1 Coin with Bullish Tokenomics - This is an easy 15X for the bull run.

🌐 WEB3

FTX Approved To Sell Billions Of BTC ETH & SOL

So FTX just got the court's thumbs-up to sell a whopping $3.4 billion in crypto like Bitcoin and Solana. They're doing it to pay back people who lost money when they crashed and burned. Mike Novogratz's Galaxy Digital is gonna be the yard sale coordinator, and they're setting a $100 million-per-week cap on what they can sell.

At a glance 🔎

• A U.S. court has approved FTX's plan to sell $3.4 billion in crypto assets like Bitcoin and Solana to repay creditors.

• Galaxy Digital, led by Mike Novogratz, will oversee the asset sale with a weekly cap of $100 million, potentially upping it to $200 million for individual tokens.

• The sale comes after FTX went bankrupt last year, leaving a $7 billion hole, and aims to help recoup losses for investors and creditors.

🕵️ Scoops take:

The FTX court approval is like a Netflix season finale — big moments, but also a lot of loose ends to tie up. Galaxy Digital stepping in as the investment manager is the shows superhero here to clean up the mess. What we’re curios about here though is the market impact. Imagine flooding the market with billions in crypto; it's like dumping a truckload of limited edition sneakers on eBay—prices could easily wobble if not managed appropriately…

Metaverse Technology Coming To The Classroom

Think of the metaverse as the new playground for education. A bunch of U.S. universities are diving into virtual reality to jazz up learning—from practicing conversations in foreign languages to dissecting virtual human organs. It's like turning the classroom into a video game, and students are not just paying attention—they're acing their tests, too. Even Europe's catching the VR education fever. It's like the Cinematic Universe, but for school—expansive, interactive, and way more exciting than a textbook.

At a glance 🔎

• A new program is launching with 15 U.S. universities to integrate VR and AR technologies into classrooms, making lessons as immersive as a video game.

• Studies show students using these metaverse technologies are more engaged and perform better on tests, turning traditional educational methods on their head.

• Europe is also catching on, with schools and companies developing immersive educational tools, suggesting a global shift toward using metaverse tech in education.

🕵️ Scoops take:

Imagine if our school lessons had the zest of Ready Player One, diving into VR worlds instead of dozing off in lecture halls. Metaverse tech isn't just the next shiny toy—it's reshaping how we learn. With 15 U.S. universities embracing it, and Europe not far behind, we're looking at a future where education feels less like a chore and more like an adventure. It's not just about fancy tech—it's a tool, and in the right hands, it could revolutionise teaching as we know it.

North Korea Allegedly Using Stolen Funds To Bankroll Nukes

North Korea is basically robbing the digital bank to keep their nukes running. They've swiped $200 million in crypto this year, which is a fifth of all the crypto theft globally. The big brains say this money is directly fueling their nuclear ambitions. Pretty slick but scary way to dodge UN sanctions, huh?

At a glance 🔎

• North Korean hackers have stolen $200 million in cryptocurrency this year, making up 20% of global crypto thefts.

• Experts believe the stolen funds are being used to fuel North Korea's prohibited nuclear programs.

• Despite international sanctions, the regime is increasingly turning to cybercrime as a highly effective revenue stream.

🕵️ Scoops take:

This isn't just some cyberpunk heist out of a William Gibson novel; it's a wake-up call. North Korea hacking crypto is like Tony Soprano getting into Bitcoin. It's a game-changer because it's efficient, extremely difficult to trace, and a middle finger to international sanctions. We're not just talking about stolen money; we're talking about funding nukes. In a world trying to move to "decentralised finance," we've got to think about the darker, unintended ripple effects, cause this could get real dark, real quick….

🪙 CRYPTO CRUNCH

Interested in learning to trade? Click below to join our affiliated Crypto & Forex trading Discord group - The Take Prophet Collective

• Crypto Total Market Cap $1.05T - 24/hour change -0.84%

• Total Crypto Volume 24 hours - $24.55B - Change +13.65%

• Chop city still, but every newsletter, we edge closer to the bull. The aim, survive the bear then PRINT in the bull cycle. Don’t try to over-trade in challenging market conditions, wait for the prime time if you are a more passive trader.

• We are still in that phase of the market where any push-up from $BTC causes Crypto Twitter to scream “The Bull is Back” and any push-down causes people to shout for the “Bear market”

• With regards to $BTC we have hit the higher $26K regions this week and now sit at $26.3K.

• We believe a pushdown to the lower $23K range is likely still to come.

• As we move into the back end of the year, we look forward to a final shakeout before the beginning of the bull tieing into the Bitcoin Halvening run-up.

• Exciting stuff to come, many people are feeling exhausted with the market, which normally is right when things are about to change.

• Your mission? Stay alert, and stay dialed in, this is your time to focus, study & align your portfolios and skill sets to make yourself Gen wealth.

  Crypto narratives to focus on this Fall

• - AI Tokens

• - Social-Fi

• - Telegram trading Bot tokens

• - Trading tool platform tokens

• - Revenue Sharing projects

• - Liquid Staking derivative projects

• - Metaverse & gaming tokens

• - RWA - Real-World Asset tokens

Top Stories

• Binance loses another Chief Executive

• Coinbase earns $1M due to Hack - But hasn’t reimbursed victims

• Crypto now ready for Wall Street

😡 THE REKT SECTION 😡

NFT PROJECTS COLLECTION TREND

Is it pure greed, is it a cash-grab, is it to try onboarding new members, is it to try to reward existing members with more utility?

There is no definitive answer but there is certainly a common theme.

Releasing more and more collections leads to project dumping. Is it just a case that the execution hasn’t been right? if this was a one-off we would agree but let’s check out the stats.

Azuki released a collection, holders didn’t like it = floor price tank

DeGods released a collection, holders didn’t like it = floor price tank

Yuga Labs released a collection, holders didn’t like it = floor price tank

Nakamigos announce a new collection, holders don’t like it = floor price tank

Time and time again we are seeing this method failing.

Holders do not want more NFTS they want Utilities.

Please listen and thanks.

🏆 WEEKLY WINNER 🏆

Friend.Tech

It is so rare that anything features twice in this section, never mind twice in one week but sometimes there’s nothing that can be done.

The stats for this week just make incredible reading:

New Users - up 64% from 3912 to 5097

Return Traders - up 12% from 8243 to 10,807

Daily Buy Volume - up 91% from $8.6m to $11.97m

TVL - up 14% from $28.6m to $32.6m

Total volume came in at $18.5m which is a new all-time high of 10%

Keep it up.

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