The market is heating up.

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The Triple Scoop
October 20, 2023

The Triple Scoop

GM to the 15 new readers who joined this week. Without further ado. LFG

SCOOPS OF THE WEEK 

⛓️ NFT’s

  • NFT Royalties Future Landscape

  • NFT Games Are Not Gambling

  • New Yuga Labs CEO Highlights The Struggles

👨‍💻 WEB3

  • Aptos Hit With 5-Hour Outage

  • Habbo Abandons Web3 'Jargon' But Remains All-in On Blockchain

  • Coinbase Picks Ireland for EU Hub

🪙 CRYPTO

  • Israel is trying to block Hamas funding by blocking crypto accounts

  • Is a crypto revolution about to overthrow Wall Street?

  • Binance halts ‘NEW’ UK users

  • Cointelegraph Intern causes Huge spike & crash of Bitcoin with fake news.

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⛓️ NFT’s

  • NFT Total Market Cap $4.34B - 24/hour change +3%

  • Volume Traded 24/hours - $9.3M +28%

    • Sentiment is still low but we are creeping up, as predicted as more liquidity & confidence surround crypto, it undoubtedly having a positive impact on the NFT market.

    • Week on Week we are seeing positive price action across the board. Overall Marketcap is up 3%+, but there have been some impressive outliers.

    • The NFT bull market is probably still some time away, and only the collections that continued to build throughout the bear will thrive in the future.

    • Expect to see new narratives & collections being the top performers of the next run.

    • Interesting for sure & could pave the wave for some interesting market movements in the near future.

    • Notable winners Today

    • Blips +100%

    • The Potatoz +34% 

    • Sproto Gremlins +22%

    • Notable Winners This Week

    • Llama Genesis +130%

    • Blips +80%

    • Mittaria Genesis +63%

At a glance 🔎 

  • OMA3 (The Open Metaverse Alliance For Web3) has created a working group to determine how best to standardise and ensure the longevity of creator royalties.

  • The group will include representation from Yuga Labs, Magic Eden as well as other household brands.

  • Blur and OpenSea’s position was detrimental to the royalties ecosystem.

🕵️ Scoops take:

Onboarding the heavies is certainly the right way to go about it.

Have no doubts, the projects onboarded to this group will ensure that the best practices for creators will be presented.

Taking Yuga as an example, they have $9bn in trading volume across the NFT market and their recent feud with OpenSea shows how passionate they are about protecting creators.

With the bear still being navigated, we can only look forward to the bull and a clarified future.

At a glance 🔎

  • The Sorare Law introduced the first regulatory framework for games that involve both NFTS and cryptocurrency.

  • The law still needs to be approved by the Consitutential Council but it has passed the first big hurdle.

  • 437 members voted for the passing of this law whilst 77 voted against it.

🕵️ Scoops take:

This space is far too big to have to be put under the umbrella of another sector.

Having a law specifically for crypto games and NFTs will pave the way for developers to be totally free with their creations knowing there is scope to act within the law.

For the masses that need to be onboarded, user safety is a key factor in bringing them in.

Don’t mess this up.

At a glance 🔎

  • Daniel Alegre took to X to share a lengthy update regarding the challenges.

  • Layoffs have been cited as a build-up of ongoing issues within the company.

  • The main issue faced is executing the gaming plans within the projects under the brand.

🕵️ Scoops take: 

A major criticism that Yuga Labs have faced is that they have over-diversified too quickly.

You know that phrase, Jack of all trades, master of none…well that springs to mind.

The best thing Yuga have done is acknowledge that some outside help in the form of partners can steer them in the right direction again.

Respect is also given to those who admit things aren’t currently great but they are looking to fix this as opposed to bottle it up.

Doubt them on your own accord, they have reached unprecedented success before.

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🌐 WEB3

At a glance 🔎

  • Aptos, a layer-1 blockchain network, experienced a significant five-hour outage during its first-anniversary celebrations, causing transactions to halt and fees to spike.

  • The disruption occurred amidst a mass online drawing event, with over 4,000 participants, leading to concerns about the network's scalability and stability.

  • Despite the hiccup, APT token's value dipped only slightly and recovered quickly, though it's trading 35.8% lower year-over-year, spotlighting investor confidence amidst technical challenges.

🕵️ Scoops take:

Aptos' outage, right during its birthday bash, is like spilling your drink in a toast. It's a hiccup, sure, but the quick bounce-back of its token value is the room's vote of confidence. Yet, it's a nudge to remember: even in the high-tech blockchain realm, growing pains are real….

At a glance 🔎

  • Habbo, diving deep into NFTs in 2021, is now stepping back from Web3 terminology, rebranding its blockchain endeavors to "Habbo Collectibles."

  • Despite the linguistic shift, Habbo isn't abandoning its blockchain-based initiatives; it's merely distancing its branding from the now contentious "Web3" label.

  • This move signals a broader industry trend, reflecting consumer confusion and a growing reluctance to overtly associate with the volatile reputation of Web3 technologies.

🕵️ Scoops take:

Habbo's shift from 'Web3' to 'Collectibles' is simply all about making the digital treasure hunt feel familiar, less geeky. They're not ditching the tech, just the techie talk, showing that maybe the future of tech is all about speaking human, not robot

At a glance 🔎

  • Coinbase selects Ireland as its European hub, leveraging the country's pro-FinTech stance and aiming to operate EU-wide under the impending MiCA regulation.

  • The company plans significant staff expansion in Ireland, attracted by the skilled workforce and favorable tax conditions, prepping for MiCA's 2024 kick-off.

  • Amid ongoing U.S. regulatory battles, Coinbase's strategic EU positioning and focus on daily-use crypto applications signal a shift from America's enforcement-led approach.

🕵️ Scoops take:

The move allows Coinbase to sidestep America's regulatory maze for Europe's clear rules, in preparation for mass adoption. It's a nudge to the US saying, Get your shit together, or watch the crypto future unfold from the sidelines…. It’s only by major player making moves like this that ultimately impact tax dollars that governments will stand up and take notice - so full support, go CB!!

🪙 CRYPTO CRUNCH

  • Crypto Total Market Cap $1.12T - 24/hour change +2.25%

  • Total Crypto Volume 24 hours - $52.34B - Change +31.59%

  • Sentiment has been bouncing across Crypto Twitter in the last 24/hours. Following the fake news of the Bitcoin ETF approval, Bitcoin actually managed to hold up the bullish momentum.

  • Things are heating up, and if you are not allocated now ahead of the bull run, now is your chance & time to get off the sidelines.

  • We will prob see a pull back following this hype & price action, but long term things couldnt look brighter.

  • It’s also important to note that that Gary Gensler seemed pretty positive towards the approval of the ETFs, of which there are 18.

  • Once one is approved which should be in the next 80 days, a true domino effect will take place.

  • Lets not be sidelined now, It’s time to accumulate.

    Crypto narratives to focus on this Fall

  • - AI Tokens

  • - Social-Fi /Gambefi

  • - Telegram trading Bot tokens

  • - Privacy Dex’s

  • - Revenue Sharing projects

  • - Liquid Staking derivative projects

  • - Metaverse & gaming tokens

  • - RWA - Real-World Asset tokens

Top Stories

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😡 THE REKT SECTION 😡

Complex Scam

Once again we are seeing scammers going to frightening lengths to dupe investors into handing over key credentials that will end up in a wallet drain.

The latest will be of particular use to Coinbase users and was identified by Cole Thereum.

Check out the thread below.

🏆 WEEKLY WINNER 🏆

Moritz

The popular “low-risk trader” that many of you will remember from the 1ETH to 100 ETH journey has shared a play that would have netted you an extremely handsome profit.

On the 26th of September Moritz took to X and shared he is betting on 3 sectors.

Friend Tech, GameFi, and Solana.

Well since this date, with Friend Tech accounts he has risen from 3.5 ETH to 19 ETH, GameFi picks has turned his 1.2 ETH to 27.2 ETH and buying Solana has increased his $9.5k to $12.4k.

Making him a total of $68,300 in the space of 6 weeks. Opportunities are everywhere family.

What bear market?

Welcome to the exclusive Member-only section of Triple Scoop  

Feast your eyes on the delights, surprises & Alpha below.

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*Disclaimer*

The Triple Scoop newsletter & podcast is not financial advice, it is provided for educational, informational, and entertainment purposes only.