Are MFTs the new Megatrend?

The Triple Scoop

 

GM to the 35 new readers who joined this week. Without further ado. LFG

SCOOPS OF THE WEEK 

⛓️ NFT’s

  • Roblox CEO’s Dream

  • CryptoPunks Boom

  • OpenSea Value Slashed

👨‍💻 WEB3

  • $588k Stolen Through Fake Microsoft Store Ledger App

  • Luxury Crypto Web3 Phone Incoming

  • Yuga Social Lead Resigns Over Racist Tweets

🪙 CRYPTO

  • Ordinals Network ‘$ORDI’ token is listed on Binance

  • Arthur Hayes thinks Blackrock could Kill Bitcoin

  • Hot spot areas in crypto that have outperformed the market

💎 Premium

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⛓️ NFT’s

  • NFT Total Market Cap $6.52B - 24/hour change +19%

  • Volume Traded 24/hours - $132.1M +55%

    • Sentiment is up again this week, 30% of the way to peak Euphoria.

    • In all seriousness though, NFTs have been having a nice run. You can’t say we didn’t give you a heads up, as we mentioned time & time again that NFTs would correlate with the increased confidence in the crypto markets.

    • The market is still going to be volatile & so expect a drawdown in Floor prices, but we feel now is the time it is safe to start browsing NFTs for purchase if you have been on the sidelines so far.

    • Excitement is picking up for sure, better to be early than to be too late.

    • We have seen a slight drawdown, but many collections have seen significant appreciation in terms of dollar value & even done multiples from their lows.

    • We expect there to be some more profit-taking, both on the NFT side, but also likely in ETH soon following its recent rally.

    • We could expect some of this liquidity from crypto to flow into the NFT run.

    • As the market begins to bubble, first Blue Chips will rally, Punks, Apes, Etc, which will birth the rally of smaller collections & new launches. Below is a list of solid NFT projects we expect to perform well in the coming months and into next year.

    • The Captainz

    • Yoga Petz

    • Kubz

    • Lil Pudgys

    • Sproto Gremlins

    • MF’ers

    • OnChain Monkey

    • Notable Top Floor Movers Today

    • Terraform by Mathcastle +30% (Onchain Art)

    • Alien Frens  +18% (PFP Community)

    • Worldwide Web +16% (Web3 Game)

    • Notable Floor Movers this Week

    • Mittaria Genisis +144% (WEB3 / Game / Closely tied to Memeland)
      Pixelmon Genesis 1 +91% (Web3 Game)

    • Anonymice - +80% - (PFP / Community )

MFTs - The new NFT Megatrend?

Chain - ETH

Launch: - Token live now $NPC

Supply - 8,050,126,520

Market Cap - $2 Million (Premium) - Now $3Million

Scoops Take

We shared this with our premium users a while back, but given it could be the next big thing, it’s too good not to leak.

Is it a memecoin? Is it an NFT? Both. Non-Playable Coin is the first meme fungible token (MFT). This means it can be uniquely traded both on Uniswap (as $NPC) and on any NFT Marketplace (as $NPCMFT).

NPC merges NFTs and Crypto. Welcome to NPC ‘Non Playable Coin’ playing on the meme of ‘Non Playable Characters. The project claims to be the first meme coin & NFT at the same time, with tokens tradable as coins on Uniswap or as NFTs on Opensea. The project allows you to turn your tokens into the corresponding numbers of NFTs on their website and vice versa.

it is hard to tell if the NPC MEME is specifically strong enough to take off, but given the recent success of NFTs backed by meme coins like Sproto Gremins & Blips, could meme coins exchangeable 1 for 1 for NFTs be a new meta forming? It is certainly worth keeping it at the forefront of your mind should projects begin to adopt this model.

At a glance 🔎 
  • He wants the ability to move NFTs across multiple platforms.

  • The example provided was Elton John signing up on Roblox to sell limited edition collectables for charity with the NFT being sold in other marketplaces.

  • Roblox’s daily active user count is up 20% in the last year with over 70m people spending an average of 2.5 hours on the platform.

🕵️ Scoops take:

The plans are bullish and paint a new positive dynamic for NFTs.

The issue is that there are no actual concrete plans in place yet for Blockchain rails to be added to the platform for NFTs.

The idea we can get on board with, we just hope the practical quickly follows.

Our Premium Unlocks this week..

At a glance 🔎
  • The project has gone in one direction over the last couple of weeks but there was a massive turning point over the last week.

  • The floor price is now comfortably back above $100,000.

  • Over the last week, they have had 151 sales with an average sale price of 61.54 ETH including a sale of 600 ETH.

🕵️ Scoops take:

They have been a constant feature for the whale buys and now these investments are paying off.

The recent boom can hopefully turn a corner where the floor will now continue to head in one direction and $100,00 can be a low point never to be danced with again.

The wider implications are hopefully a bullish sign, rising tides lift all ships.

At a glance 🔎
  • The valuation was taken by an investor Coatue.

  • In 2022, Coatue, led a $300m round for the marketplace valuing the platform at $13.3bn in its series C.

  • Coatue has slashed the value of its $120m stake to $13m

  • This markdown implies the value of OpenSea is $1.4bn.

🕵️ Scoops take: 

Maybe a touch harsh in a case of managing fund value but it is still pretty damning.

The 2022 valuation was obviously not going to be maintained given that was at the end of the previous bull and the bear was ready to hit.

The issue remains for OpenSea in that they cannot keep out the news. Earlier it was staff cuts and now it is markdowns by investors.

The pressure gage intensifies on the future successes.

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🌐 WEB3

At a glance 🔎
  • Immutable, a leading web3 gaming platform, has announced a partnership with Ubisoft, a major video game creator and publisher, to develop a new gaming experience that leverages the capabilities of web3.

  • The collaboration will combine Ubisoft's vast game development experience with Immutable's expertise in the web3 gaming ecosystem, aiming to enhance digital ownership for players. Nicolas Pouard of Ubisoft's Strategic Innovation Lab expressed excitement about integrating decentralised technologies into games.

  • Immutable's recent achievements include the TestNet launch of Immutable zkEVM and successful demos of flagship titles. CEO James Ferguson highlighted the partnership as a landmark for Immutable, aiming to create an engaging and novel player experience.

🕵️ Scoops take:

Ubisoft and Immutable's new Web3 game could be a game-changer, promising player-owned digital goodies and, crucially, fun gameplay. A fresh approach in a sea of hype-over-substance Web3 titles. While Ubisoft's mixed bag of past releases raises eyebrows, we’re optimistic. This partnership might just blend blockchain's innovation with genuinely enjoyable gaming. Fingers crossed they actually deliver a Web3 game that's as entertaining as it is forward-thinking 🤞

At a glance 🔎
  • The Graph announces AI-assisted querying and other major features in its new roadmap, post $50 million fundraising.

  • Upgrades include Firehose technology for faster blockchain data indexing and Substreams for high-performance data processing.

  • The Graph, known as the 'Google of Web3', is expanding its capabilities to fundamentally change interaction with Web3 data.

🕵️ Scoops take:

More than your standard tech upgrade going on here gang, in fact, somewhat of a game changer. Imagine Google's data prowess infused into blockchain - that's what we're looking at. This move could bridge complex data processing and user accessibility, potentially catapulting Web3 from small niche to mainstream utility.

At a glance 🔎
  • Binance has launched a new Web3 wallet integrated within its primary mobile app, predominantly used for cryptocurrency trading.

  • The wallet uses multiparty computation (MPC) for enhanced security, dividing a user's private keys into three parts for reduced vulnerability.

  • This launch comes as Binance seeks to diversify its offerings amidst a decline in its spot trading market share and overall industry challenges.

    🕵️ Scoops take:

Looks like a strategic diversification here from Binance, recognising the shifting tides in the crypto, its calculated move to stay relevant and dominant. With trading volumes fluctuating, they're betting big on Web3's potential, aiming to be the go-to platform for both trading and secure digital asset management. This could be a game-changer, signaling a shift from traditional trading to a more integrated, secure, and user-friendly Web3 experience.

🪙 CRYPTO CRUNCH

  • Crypto Total Market Cap $1.31T - 24/hour change -1.58%

  • Total Crypto Volume 24 hours - $41.61B - Change +4.26%

  • On the cusp of greed & extreme fear. We feel a retrace is coming, but it’s a bullish retrace. It’s needed to flush the late longs out and continue our upward trajectory.

  • ETH has had a lovely rally on the back of Blackrock now filing for an ETH ETF, adding to their BTC ETF filling. That’s right, Mom & Pop’s retirement fund is going into Bitcoin & ETH, which means your inheritance is now magic internet money. Funny how the world works 🤣

  • If you’re not in the market yet, then we feel you will have one more chance when Bitcoin comes down to $32K to load up on your favorite ALTs.

  • Crypto narratives to focus on this Fall

  • - AI Infrastructure / AI tokens.

  • - New Layer 1’s

  • - 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 😡

Friendzy

Detective King ZachXBT has been doing the lord’s work once again in creating as safe a place in the space as possible.

He shared an update on the FriendTech fork on Solana (Friendzy) and typically it is as expected.

There have been no posts or activity from the official account or team for a matter of weeks and we all know how this ends up.

Check out his findings here.

🏆 WEEKLY WINNER 🏆

Bitcoin Blockchain

Maybe the knock-on effect of the recent sharp rise.

On Wednesday the 8th of November, the Bitcoin Blockchain saw its NFT ‘Ordinals’ asset sales surpass those on the Ethereum platform.

Bitcoin NFT transactions amounted to $17.17m whereas Ethereum maxed out at $15.77m over the same period.

This is the first time Bitcoin has flipped Ethereum in 24-hour NFT sales.

Will the upward trajectory continue.

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