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🍦SCOOPS OF THE WEEK

🍦FTX Update - Biden Has His Say & Hacker Dumps ETH

🍦Coachella Lifetime NFTs Locked

🍦3D Invisible Friends Are Coming

🍦J.P Morgan Wallet

🍦Macy's Metaverse Thanksgiving

FTX Update - Biden Has His Say & Hacker Dumps ETH

Just when we thought we would have a break from FTX and the news quietens down, we were hit with another avalanche of stories.

To begin, President Joe Biden has called for global Bitcoin and Crypto rules. He stated, "due to recent issues as without proper oversight, crypto risks harming everyday Americans, so this is something that we see as an important issue". Not the first time we have been left confused with what Biden says as he's focusing on currencies instead of exchanges, which actually caused this fiasco.

It's been worked out that the amount outstanding to the top 50 creditors right now is around $4.56bn. What better way to dent current capital than by paying the new CEO $1946 an hour? An average 9-hour day x 20 working days works out to $350,000 per month. We are unsure if there are Bahamas / weird naked party perks this time around, but we have no doubt time will tell.

Lastly, on the 20th of November, the FTX hacker dumped a whopping 50,000 ETH. The wallet drainer address has been swapping assets and using bridges to launder stolen funds.

The hacker was able to drain nearly $447m from multiple FTX global and FTX US exchange wallets on the same day the company filed for bankruptcy.

As we feel every week, the stories aren't stopping and are getting worse as each day passes.

Coachella Lifetime NFTs Locked

Back in February of this year, Coachella auctioned off 10-lifetime passes for the festival. Known as "Coachella Keys". These NFT passes were unfortunately in a partnership with FTX and given the collapse of the exchange, owners have been locked out.

The value of the passes was a total of $1.5m and to make matters worse, Coachella employees took to their Discord to say they have no current communication with the exchange. In what is a positive move whilst holders are unable to access their NFTs, an internal team has been created to come up with solutions relying on the tools they have access to.

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Macy's Metaverse Thanksgiving

Ahead of Thanksgiving this Thursday, Macy's is bringing a Metaverse twist that should make up for the dry turkey!

Fans will have the chance to experience the Parade in the Metaverse which includes virtual galleries from 5 NFT projects: Boss Beauties, Cool Cats, gmoney, SupDucks and VeeFriends.

Starting this Thursday, fans will have the opportunity to vote for their favourite project with the winner set to become an IRL balloon in the 97th Macy’s Thanksgiving Day Parade in 2023. The first 100,000 fans who vote will receive a free Macy’s digital collectable.

During the voting period, additional votes will be given to NFT collectors who choose to mint and to holders of Macy’s 2021 Parade NFTs, with voting power based on the NFT rarity of those collectables.

In what is a lovely gesture, in the spirit of Thanksgiving, collectors have the opportunity to mint a virtual gallery pass to receive an OnCyber NFT gallery space, which shall be airdropped on the 5th of December. Minting the pass shall cost $50, with the total purchase price benefitting Big Brothers Big Sisters of America.

A link to the website can be found here

3D Invisible Friends Are Coming

Speaking of February this year, apart from the above Coachella NFTs hitting the market, the market was also hit with Invisible Friends.

The introduction to the marketplace caused volume and market movement that we haven't witnessed since...although Art Gobblers tried to give them a run for their money.

The previous market-setters are back in the form of a 5000 collection of which each item is 3D.

They will launch on the 23rd of November for 0.07 ETH. Each Invisible Friends holder & Clay Friends holder will have 1 week to mint a 3D friend with leftover mints to be re-allocated.

As a result of the news, the floor of Invisible friends rose from 2.5 ETH to 3.25ETH.

J.P. Morgan Wallet

One of the largest investment Banks in the world has arrived and they come with a plan to conquer.

They have announced that the J.P. Morgan Wallet is now registered as a trademark for Bitcoin and crypto services including:

• Virtual Currency Transfer

• Exchange

• Payments

• Checking Accounts

• Financial Services

At a time when other banks are limiting user usage...SANTANDER... we can't help but feel this is a positive move of the market continuing to develop.

🏆SCOOP'S WEEKLY WINNER

Nothing better than being early right?

We doubt there is a better play than UPunk3591's acquisition of Cryptopunk 3591 back in 2018 for 0.125 ETH (which was $152 at the time) so the total purchase price was...$19.00

The 20th of November marked the 4th anniversary of the purchase.

It's hard to determine how much the NFT is worth today but it will be more than $65,000 representing a 3421x (and that's just the minimum !)

Remember, generational wealth is made in the bear market, ignore the noise and invest in what you believe in. What this story shows is patience is a virtue.

THE REKT SECTION 😡

It's been exactly 1 month since we shared 3 anonymous stories that in their own right could be REKT.

As always, it's going to be light-hearted and if any of our readers have any anonymous confessions they would like added to this section just drop us a DM on Twitter.

We can certainly make this a monthly thing!

1. I saw an influencer promoting Art Gobblers so I took what little I had left and all in'd them. I'm now down 70% and need liquidity to make rent this month. I feel horrible and don't know what to do.

2. Everyone kept on saying BTC will still drop further. I shorted and got my funds all liquidated. Don't trust Twitter Influencers.

3. I stumbled across bitcoin when it was trading at $8 and I haven't made a single penny from it.

💪 HOT PROJECT ALPHA - By L0rd Marlborough

Project Sugar Pop

Who still plays Candy Crush? Regarded as one of the most successful mobile games ever and is still popular today having launched over 10 years ago. It's fair to say, people love Candy Crush.

Sugar Pop aims to become the Candy Crush of the Metaverse. The project has been developed by Lunar Labs with a team who have strong experience in the Mobile game space. The project's 500 supply founders pass mints this month on the 27th of November. What's interesting is that the project states that 25% of revenue made from in-game purchases will be shared with the holders of the Founder's pass.

If the game can achieve even 10% of what Candy Crush has ($1.2Bn) in revenue/year this would obviously make holding a founder's pass very lucrative.

However, we must note that this a steep task & we are yet to see a play2earn / Web3 achieve such heights....Yet. Secondly, with a clearly stated revenue share, this would likely make the Founders Pass be deemed a security.

Project Sugar Pop - Twitter

AI Arena

Next up AI Arena. Now, this looks cool...

This game is backed by Paradigm a web3/crypto investment firm. If you aren't familiar with Paradigm they were the company that backed the infamous 'Art Gobblers'. Art Gobblers may have been super hyped, but the concept remains innovative and different from a standard PFP project.

Paradigm invests in some of the most prolific Web3 start-ups and they clearly recognize AI arena as one of them. The gameplay as you can see above looks fun, fast, and furious + uses AI to enhance performance & player experience.

The project combines 2 huge growth industries, web3 gaming & AI with serious financial backing. One to watch for sure.

Website:

Twitter:

The Mighty Net

The Mighty Net is a new Web3 gaming ecosystem that recently launched the MightyNet Genesis pass as a free mint which are now trading on Opensea for around the 0.15 ETH

If you are a game boffin then Holding a MightyNet genesis pass could be both rewarding & lucrative in the future. The pass delivers you exclusive front-row access to the MightyNet, ecosystem, and early access to future mints & games.

MightyNet is backed by a solid studio 'MightyBearGames' with strong talent & experience in developing games.

As firm believers that Web3 gaming has a strong future ahead, the above picks are all worth keeping your eyes on.

Website

Twitter

Opensea Genesis Pass

🤡 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.