GM Scoop Family. How is your week going? Good? We thought so. Let's dive in.

🍦SCOOPS OF THE WEEK

🍦 SEC updates on NFT regulation

🍦 Magic Eden Rolls out optional Royalties.

🍦 Has the DeGods - y00ts reveal Hype train begun?

🍦Kanye West buys Parler

🍦New Layer 1 Blockchain Launches.

🍦Azuki launches - PBT - Physical backed token.

🍦Azuki launches - PBT - Physical backed Token standard

Has Zagabond (Founder of Azuki) won back the hearts of the public? The blue-chip project founder previously faced heat from the crowds having admitted to being involved in projects that were deemed in the eyes of the public 'Abandoned' or rugs.

But with Chiru Lab's (Dev team behind Azuki) new product and protocol they may have won back the hearts of NFT lovers throughout the metaverse.

Azuki recently released their new 'Opensource' standard 'PBT' or 'Physical Backed Token'. A smart move from Azuki, it means any project or company can use the technology. But what exactly is it?

The physical backed token standard works by inserting chips in physical items. If a physical item is gifted or sold to another person then the new receiver or buyer of the item scans the item to enable a decentralized transfer of ownership completely on chain. Owners can then track and verify the ownership and authenticity of items. We see this being huge in the sale of luxury goods.

What we have seen so far in the NFT world is digital items being used to provide access to physical drops, with this new standard physical Items can now be used to unlock digital experiences. Physical & digital worlds are merging fast and Azuki has just helped pioneer a path forward.

The rollout of the PBT standard will be used by Azuki in the release of 9 X 24-carat plated golden skateboards. With only 9 available, gold-plated, it's fair to say these are going to be hard to come by. Even Charlie from Willy Wonka would have a tough time securing one of these.

On a larger scale what's more exciting is how NFT tech continues to evolve. We can now see how this will be used in our daily lives.

🍦 SEC updates on NFT regulation

Hester Pierce A.K.A 'Crypto Mom' who is 1 of 5 SEC commissioners is back! She is calling for the SEC to publish more information on the NFT market & states that the SEC is keeping people in the dark about which NFTs could be considered securities which includes.

Hester stated that NFTs that include "Governance rights" or offer investors rights to revenue streams could end up being could be captured by US securities laws and even tokens that are split and then off could fall into this category.

We know what you're thinking... You see the word SEC in the newsletter and you're thinking the party's over. But this isn't necessary a bout thing. Hester Pierce A.K.A Crypto Mom is a proponent of Crypto and is here to protect us against Chair of the SEC Gary Gensler's tough stance on Crypto & Web3. She often finds herself at odds with SEC and wants the SEC to break its 'unhealthy dynamic' with the crypto industry.

As soon as we have more updates on Yuga & the SEC. You will be the first to know!

🍦 Magic Eden Rolls Out Optional Royalties

The Garden of Eden or Trouble in paradise?

Solana-based NFT exchange that galloped on a unicorn to a whopping $1.6 Billion valuation within its first year has scrapped the need for sellers to pay royalties when selling NFTs on the platform. Instead, it will be up to the buyer whether they choose to pay an optional royalty to the creator, saying this is more like a 'Tip to the creator or artist'.

Disruptors will disrupt. It just happens very quickly in the web3 world. Magic Eden has been backed into a corner due to the rise of new challenger trading platforms such as 'Hadeswap' which don't enforce royalties on their platform which has caused Magic Eden to lose significant market share. Magic Eden once ruled the land, boasting 90% of the total Solana trading volume, but since alternatives have shown up they have stripped Magic Eden of the title, slashing their market share to as low as 58%.

What's interesting is that just a week ago Magic Eden stated they would be supporting creator royalties on their platform saying they as a business "has always been proud of being deeply creator centric", until doing a complete 180 on their decision to make royalties optional.

Our take:

Not enforcing royalties on a platform is harmful to smaller artists who rely on royalties as income. However, the majority of new collections & projects are touting themselves as the next big thing and marketing their projects like value-driving start-ups. It's time for them to put money where their mouths are and create innovative revenue streams for their Web3 projects. We feel this will only drive innovation in the NFT space and drive the industry forward for the better. Short-term pain. Long-term gain.

🍦 Has the DeGods - y00ts reveal Hype train begun?

More on Solana.

Whilst we at Scoop are Eth maxis we have learned never to become married to one chain, token, or project. It's important to be aware of what else is going on, and that goes for all opportunities. Always keep your eyes peeled for new innovations. As far as Solana goes their a few projects we deeply respect, but the Degods ecosystem certainly cuts through the noise & is arguably the most successful NFT project on Solana.

y00ts is the second project that minted out of the Degods ecosystem and the reveal has long been awaited. Fans of the project are crying out for the reveal but have been kept patiently waiting. Leader of the Project FrankDeGods, teased Twitter today with the below.

Full disclosure: NFT Scoop doe own t00bs / y00ts NFTs. This is not an Ad, but we are highly convicted of what Frank & the team are setting out to achieve.

🍦Kanye West buys Parler

Kanye West, A.K.A Ye, has been well known for his outlandish public statements that often go against the grain. His next move? The rapper & music talent is purchasing Parler, a social media site that has set to rival Twitter. The difference? They allow full freedom of free speech & expression, where individuals 'cant be canceled'

Ye added in a news release that “we have to make sure we have the freedom to openly express ourselves in a world where conservative beliefs are regarded to be contentious.”

The parent firm of Parler, Parlement Technologies, claimed that the acquisition would contribute to the development of “an unstoppable environment where all views are welcome.”

We think platforms like Parler are interesting, yes they naturally attract individuals and influencers with more extreme views, but in an industry like web3 where we push to adopt a more decentralized censorship resistance society, it begs the question of whether people should be allowed to be canceled. Protocols like $Lens are gaining traction fast which offers a permissionless, composable & decentralized platform that makes building web3 social media platforms easy. The Lens protocol is certainly one to keep your eye on, we expect this platform to explode with innovation & exciting new projects in the near future. If you want to learn more you can check out the link below!

🏆SCOOP'S WEEKLY WINNER

Genuine Undead

This week, it's the Genuine Undead. Rise up from the grave & claim your trophy.

The Genuine Undead has recently had a strong rally in floor price & this isn't any pump-and-dump style rally, it's the work of persistence & a community rallying to make a project a success in true Web3 fashion.

The Genuine undead was minted for free on August 13th. The 24x24 Pixel avatars were quickly minted out by the community of fans. Following a successful mint, the project was then later handed over completely to the community.

Most communities would have wept at their founder handing the keys to the project completely over to them, after all, most want someone else to do the leg work. but not the Undead. The community quickly organized together formed governance & creative councils, social campaigns & kept the project alive & kicking with fan art.

You could say is true Web3 in action. Decentralized governance & personal empowerment where the community gained both social & financial value. In the words of the Undead "Community is the utility'One last point... They are pixelated. Why do people love the pixels? Are we noticing a pattern here? 🤣

💧WHAT'S DROPPED

• Mothz (Wenlamp) - We covered this project a couple of articles ago. They have sold out and since then are the number 1 trending project on Opensea and currently trade at 0.09ETH floor. At this stage, it's very hard to tell whether this project will continue to rise or will be a flash in the pan. We are personally not getting enough bull signals to go through with a purchase.

💪 ALPHA 

$Aptos - New Layer 1 Blockchain Launching - Built for NFTs & Web3

Home for web3

Aptos is a new layer 1 blockchain that launched its main net on the 17th of October. The $aptos token will be launching across major exchanges as of tomorrow (19th of October). If you aren't familiar with the term think ETH, Solana, etc. They are chains in which other projects are built on.

Aptos states it will focus on user experience, upgradeability, and state-of-the-art technology to make Aptos the home for developers to build applications for generations to come.

They have secondly stated that there are already hundreds of projects and hundreds of thousands of community members that have made Aptos their home. The new blockchain claims that it will foster the development of NFT, gaming, commerce, social networks, and media & entertainment projects.

Our Take:

There hasn't been an airdrop for $Aptos & given this is launching across centralized exchanges like Binance we would probably expect this to pump hard tomorrow and then dump harder, yes the pump will like astronomical like 2000%, but advanced traders get and with bots fast enough to get in at the low, unless you are advanced you are not going to get in fast enough and will be eaten alive as exit liquidity. We recommend letting this play out, watching from the sidelines, and looking for plays within the ecosystem as the dust settles such as NFT projects, etc.

The key in bear markets is survival, and you should be more risk-off in these times / in capital preservation mode. Don't be someone's exit liquidity. This is just our take, we could be wrong, so always do your own research & make your own decision.

Article release from Aptos

🤡 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.