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SCOOPS OF THE WEEK 

⛓️ NFT’s

• Top Projects 6 Month Stats Shared

• UK School Conducts NFT Safety Workshop

• Chiliz Chain Reveals 1st NFTs

👨‍💻 WEB3

• Coinbase Wins Landmark Futures Battle

• Polygon Expands Deeper into South Korea

• Paypal Halts UK Crypto Purchases

🪙 CRYPTO

• Why did Bitcoin Drop?

• Why Elon didn’t crash the market

• ETH Futures ETF Poised for Approval

🏆 SCOOP PREMIUM

• Rocketship crypto token poised to be the next Solana?!?

• Pumpamentals Guide 101 - Understand what makes projects pump & others dump.

• A tool that can save you from scams & your bank balance

 PROJECT SPOTLIGHT

Imagine a place where you can not only follow your friends & idols but actually invest in their online personas & influence. Yep, you heard that right. Friend Tech is the app built on Coinbases Layer2 ‘BASE’ that lets you buy and sell shares of other users, essentially betting on their social success. It's like the stock market, but instead of companies, you're trading online street cred!

The app It is currently in invite-only mode so get searching.

Here's the lowdown: friend.tech lets you turn your Twitter account into social tokens that others can buy shares of using good ol' ETH. The more shares someone has, the cooler they are (or at least that's the idea). And guess what? If you're smart about it, you might even make some sweet ETH by buying low and selling high. It's a bit like trading digital collectibles, but these collectibles are people's online reputations.

As an investor in someone's shares, you get VIP access – the virtual red carpet rolls out for you. You get to peek at their content, slide into their DMs, and basically bask in their online glory. It's like becoming their ultimate fan and having the backstage pass to their digital life.

There's some serious tech behind this app, even though the app isn't officially launched, it's already making waves with thousands of users and transactions, racking up Ethereum like nobody's business.

So, how does this magical mashup of social media and Web3 work? First, you connect your Twitter account, turning it into shares that can be bought and sold. Then, you scout out your next social superstar investment. The earlier you buy, the cheaper the shares, so you might just get in on the ground floor of the next big Twitter / X influencer.

But don't forget the fun stuff! Want to know how to jump on board this rollercoaster of influence and ETH? Step one, add the app to your home screen. Step two, score an invite code like you're collecting rare Pokémon cards. Step three, transfer some ETH and claim your shares. And just like that, you're part of the friend.tech crew.

Is this app the next big thing or just a fad? Only time will tell if friend.tech will become a digital legend or just fade into obscurity. As the Web3 world keeps evolving, this app's success will depend on its ability to keep things fresh and exciting for users.

The Airdrop opportunity

Users who click on the button labeled "Airdrop" on the friend.tech frontend are informed that completing specific tasks will make them eligible to receive points. Protocols often look to identify their most active users for outsized token airdrops in the future; it appears that friend.tech may be following a similar route. While only points are set to be airdropped at the moment, it seems likely that a future drop will involve tokens.

⛓️ NFT’s

• NFT Total Market Cap $5.69B - 24/hour change +1.39%

• Volume Traded 24/hours - $14.3M +30%

  • A lot of attention is still centered around DeGods.

  • Infamous NFT collector & Influencer ‘Machibigbrother’ has collected nearly 400 of them, FrankDeGods fears what his plans are for them, he understands it is a free market, but ultimately has the holder’s best interests at heart. After Machi said in an ‘X’ space “I’m gonna dump the project”, Frank requested to arrange a conversation and establish if an agreement can be made.

  • Despite what the rest of the market thinks, Whale wallets continue to scoop them up.

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

  • Fine / Generative Art has consistently held strong in the NFT space and we feel this category is only going to grow in dominance and soon outstrip the PFP market.

  • Notable Gainers - Imaginary Ones +28% (Seems crazy that these guys at 0.65ETH as a rip-off of invisible friends who sit at 0.35ETH, Fidenza’s up 10%.

  • Notable Losers - Kanpai Panda’s down 18%, Kubz down 13%, VV checks down 10%

Whales Are Scooping up:

• DeGods 

• The Captainz

• Bored Ape Kennel Club

• Wreck League Genesis

• The Boys of Summer by Mitchell Chan

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• Rocketship crypto token poised to be the next Solana?!? - This token is a strong long-term play, it moves like a beast & has barely flinched during the market shakeout.

• Get out Pumpamentals Guide 101 - Understand what makes projects pump & another dump.

• Discover a Free tool that can save you from Scams!

* NOTE - Our Premium Member-only Info is found at the bottom section of our Newsletter.

Top Projects 6 Month Stats Shared

At a glance 🔎 

• The stats read as you expect, the bear has left its mark. 

• Nearly every project is down 50%+ with the exception of one.

• The exception is Milady which is up over 3x during the period.

  🕵️ Scoops take:

There are two ways to look at this and pick wisely. Bullish entry prices or doom and gloom.

Some of your favorite projects are hitting levels that you craved for your entry, do you really want to pass it up?

We appreciate the space is different in terms of when you wanted to get in but study the roadmaps, and find the right community, these projects have won before and some will win again.

Remember, pick wisely.

UK School Conducts NFT Safety Workshop

At a glance 🔎

• Seren Kids together with Rydes Hill prep school conducted a Web3 and NFT workshop for 7-11 year olds.

• The sessions provided E-safety workshops which included topics such as Web3, Blockchain, the Metaverse, Cryptocurrency, AI, and VR as well as creating their own NFT.

• The students were then able to send the NFTs to their parent’s wallets.

  🕵️ Scoops take:

I left school over 10 years ago and I must say, I haven’t used 99% of the curriculum since.

What this does is not only massively improve the next generation’s awareness of the future, but it also opens the minds of parents who may have previously had a total ignorance of the space.

Okay, it’s one school in the UK but it had to start somewhere so we hope this is just the beginning of getting these sorts of subjects cemented into schools all over the world.

If only we could go back in time…

Chiliz Chain Reveals 1st NFTs

At a glance 🔎

• Chiliz is a sports-focused Blockchain that is launching its first NFTs by auction.

• They have partnered with Common Goal for the project which will see global football/soccer stars donate match-worn shirts.

• Each shirt will come with a proof of authenticity NFT.

• All proceeds will benefit issues such as racial injustice, mental health, gender equality and disaster relief.

  🕵️ Scoops take: 

If you are going to launch your first project, launch one that will capture a huge market.

This is exactly what they have done and not only that, they have tied in some amazing causes which will benefit from the auction.

A small but important point is by having the authenticity certificate in the form of an NFT you don’t need to worry about misplacing the physical one.

With the auction beginning on the 26th of August and ending on the 12th of September so there is plenty of time to take part.

All details are in the below tweet.

THREAD OF THE WEEK

So who really is the infamous ‘MachiBigBrother’

🌐 WEB3

Coinbase Wins Landmark Futures Battle

At a glance 🔎

• Coinbase received approval from NFA and CFTC to operate as a Futures Commission Merchant, enabling them to offer crypto futures trading to eligible U.S. customers.

• The company's journey to this milestone included acquiring FairX, now the Coinbase Derivatives Exchange, and launching Bitcoin and Ethereum futures contracts.

• Amid an ongoing legal battle with the SEC, Coinbase views this development as evidence of its dedication to comply with U.S. regulations and offers a waitlist for early access to futures trading.

🕵️ Scoops take:

Coinbase's recent nod from regulators to usher in crypto futures trading symbolizes a pivotal shift in how the U.S. is starting to perceive digital assets. By green-lighting such a significant player, we're seeing a melding of traditional finance rigors with web3 dynamism. While Coinbase navigates legal challenges, its strides in the domain of the future could pave the way for other platforms, amplifying options for both institutional and retail investors. This move underscores a broader theme: As boundaries blur between the decentralized web and mainstream finance, the U.S. might be positioning itself as a proactive, rather than reactive, force in the evolving digital economy landscape.

Polygon Expands Deeper into South Korea

At a glance 🔎

• Polygon Labs partners with SK Telecom, South Korea's largest telecommunication company, to integrate the Polygon network into SK Telecom’s Web3 ecosystem, including its NFT marketplace.

• This partnership is a part of Polygon’s broader strategy to enhance its footprint in South Korea, leveraging collaborations with significant entities like Nexon and Lotte Group.

• Given SK Telecom's dominant market position (43.2% of South Korean mobile phone service) and the country's active crypto scene, the alliance could introduce millions to the Polygon network and Web3 technology.

  🕵️ Scoops take:

South Korea's thriving crypto landscape sets the stage for some seriously transformative collaborations. Polygon's alliance with SK Telecom is more than just a partnership; it's a strategic fusing of the telecom titan's vast consumer base with the decentralised promise of Web3. As traditional industries like telecommunications embrace blockchain and Web3 technologies, it signals a broader acceptance and mainstreaming of these once-niche domains. For the average individual, this could mean simpler, more direct access to crypto benefits, all through familiar platforms. With such integrations, we edge closer to a future where blockchain is not an outsider, but an integral part of our digital lives.

Paypal Halts UK Crypto Purchases

At a glance 🔎

• PayPal halts new crypto purchases in the UK until 2024 due to upcoming strict regulations by the Financial Conduct Authority (FCA).

• Existing PayPal users can retain or sell their crypto, but can't buy more starting Oct. 1.

• Despite this, PayPal remains committed to global compliance and recently launched its own stablecoin, PayPal USD (PYUSD), in the US.

🕵️ Scoops take:

PayPal's decision to pause UK crypto purchases until 2024 exposes a crucial tension point; the balancing act between regulatory compliance and fostering innovation. As the UK's FCA tightens its regulatory grip, aiming to ensure consumer protection and deter illicit activities, major players like PayPal must navigate these waters cautiously. However, this pause is just that—a pause. As the world increasingly moves towards a digital-first financial setup, even traditional institutions will recalibrate. It's a testament to the significance and inevitability of the crypto wave, with companies both adapting to immediate regulatory environments and positioning for a decentralised future.

🪙 CRYPTO CRUNCH

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• Crypto Total Market Cap $1.06T - 24/hour change -6.12%

• Total Crypto Volume 24 hours - $70.51B - Change +96%

• Rocketship crypto token poised to be the next Solana?!?

• The crash in Bitcoins price last night took even some of the best traders off guard. We expected a $BTC retrace to the lower $28K’s but not as deep as $25K & not that quickly.

• This could have been caused by the ‘Rumour’ that Elon’s SpaceX was unloading their Bitcoins & also that Chinese property developer Evergrande filed for Bankruptcy, spooking the market of fears of a weakening global economy.

• Most ALTs have expectedly shed blood across the board. But hey, this is crypto, volatility is what we are here for.

• The good news is, this does bode well as flush-out as nearly $1BN in longs was liquidated in crypto yesterday.

• So where next?

• Again, we will reiterate, we are short-term cautious currently, as we have said for a few weeks now, but ultimately very bullish for the mid to longer-term.

• It is now likely we range between the $25-28K levels, if we push clear above $28K the bulls regain control, slipping below $23K would signal the bears are winning the fight.

• As mentioned last week, a lot of the gains being made right now are within the ‘On chain’ DEX markets, but longer term these levels are good areas to dollar cost average / buy your favorite ALTS on the cheap.

• 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

Top Stories

• Why did Bitcoin Drop?

• Why Elon didn’t crash the market

• ETH Futures ETF Poised for Approval

😡 THE REKT SECTION 😡

Shibarium

This was the decentralized blockchain launched by Shiba Inu on the 16th of August.

It is safe to say that the launch has been a complete and utter disaster with over $2.5m currently locked.

As a result of the bridging issues, $SHIB has fallen 9%.

However, things can quickly change, the team are saying they are unable to recover it but should this change things may look on the up.

Whenever there is a new chain launched, it always carries the risk of failed interactions with the new bridges.

We do not envy anyone who is still waiting on transactions to be approved.

🏆 WEEKLY WINNER 🏆

POLYGON

For the first time ever, Polygon has reached 2nd place for traded volume across a 30-day period.

They have been seeing 3x the number of transactions compared to the Ethereum mainchain and this is down to the number of micro transactions that have been occurring.

It is worth noting that there has been a lot of wash trading although the blow will show net volume so it takes out the wash trading element.

What an amazing achievement for them to break down this barrier, how high can they go?

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