GM Scoop Family. We have missed you. Now let's dive in. 

⚡️STATE OF THE MARKET

Diving into the Macro this week. it's time to check out the latest report of the M2 Money supply from the federal reserve. As large macro factors like this have an impact on markets like NFTs and crypto the typically more risk on assets classes.

M2 Money supply is a measure of the money supply that includes cash, checking deposits, and easily-convertible near money. During the pandemic M2 money supply shot up to extraordinary levels. The more money in the market meant people had more money to invest in stocks & crypto which causes those assets classes to soar sky high. Now the US M2 money supply has tanked down which has caused index's like the S&P 500 in September to have their worst months since Feb 2008. When more conservative equities like the S&P 500 drop, 'Risk on' assets like Crypto & of course NFTs take a hit too! One thing to note here is how much power the likes of US federal reserve has on the ability to manipulate stock prices. It's time for a decentralised future. 

Until we see more money supply hit the market, it will be a challenging time for 'riskier asset classes'. However as we always say, fortunates are made in the bear not the bull..

🍦SCOOPS OF THE WEEK

🍦NFT Q3 Stats Revealed

🍦World's First Magic Ink Tattoo NFT Sells for 100 ETH

🍦Sushi Swap Hires New CEO 

🍦More from Celsius, This Time It's Their CEO 

NFT Q3 Stats Revealed

Unless you have been sleeping under a rock or been in hibernation that could rival the wild bears of this world, the 3rd Quarter stats for NFTs in 2022 will not come as a surprise. 

The main stat to take from the reveal is that volume is down 60% in the last quarter and down 97% since the optimum performing month of January 2022.

What does this mean for us? 

As you will continually see, especially in the news section, new companies, existing conglomerate companies, blue-chip projects, etc. are all continuing to develop and expand in all things Web 3 / Metaverse. As such, there will forever be future utilities in the form of NFTs (we aren't going to repeat the gaming and music industry...whoops) 

What's most important to realize is, in the long term, statistics would agree that the most amount of profit can be made in a bear market. The price of stable coins is down, sellers are looking for liquid, solid projects then go through a period of serious undervalue.. Don't let the negativity spread to your mindset, use this time of downturn to invest wisely and you'll be healthy come the bull.

World's First Magic Ink Tattoo NFT Sells for 100 ETH

Created by what GQ describes as the most famous Tattoo Artist in the world, Bang Bang has created a 1/1 NFT that sold at auction for 100ETH.

Named Magic Ink, which is a first of its kind, was created in a laboratory and bears technology that allows tattoos to change as when you please from their original form in your skin.

For those not Tattoo savvy the technology works as follows: the dye used can react to UV light in a capsule, which then leads to the tattooed image on your skin changing over and over, painlessly and instantly using light to turn it on and off.

Not only will the winner of the auction be the first person in the world to have a tattoo of this nature, they will also receive a visual art piece by Bang, which will be another 1/1.

If you had Tattoos as next in line for Web 3 integration, grab yourself a beer! we didn't see it coming.

Sushi Swap Hires New CEO 

The 5th largest de-centralized exchange has elected a new Chef.

Jared Grey, has an impressive CV consisting of being the former CEO of Bitfineon, a defunct centralized exchange, and web3 incubator EONS. 

The new boss has made his vision clear, stating that his primary focus will be on making Sushi more efficient in its organization and economic efficiency to allow the project to build new products and recapture market share.

In case you are not familiar with Sushi Swap it is a decentralized exchange with allows swapping between over 11,700 currencies. 

We imagine some of our readers, like us, will have experience with their rivals Uni Swap when purchasing Ape Coin for the land sale. 

On a wider scale, for growth in this space that we call home, it is important for healthy competition, it ensures standards shouldn't slip and the product we, as customers receive, is continually improving.

More from Celsius, This Time It's Their CEO 

From Bad, to awful, to disaster we are running out of words for what has gone on at Celsius and now the latest story makes for some stomach-turning reading, especially for those who had funds held.

In case you are new (we have been covering this story from the outset) the lending firm froze all customer withdrawals in June ahead of filing for Bankruptcy in July due to a $1.2bn dent in the accounts.

The latest development is that CEO, Alex Mashinksy withdrew $10m just weeks prior to the freezing of customers' accounts. Mashinksy resigned from the role of CEO last week and it wasn't a Saylor type of resigning as CEO.

There are definitely more questions than answers coming from this news however we should get more answers shortly as a broad disclosure is due at court in the coming days.

If any of our readers are now creditors, unfortunately we have no update regarding any sort of reimbursement but rest assured, we will bring you all developments.

 🤝 SCOOP PROJECT COLLAB GIVEAWAYWe love how Drivrs has incorporated Scoop man into this Collab piece!

Follow the tweet below & Follow the Rules! 

🏆SCOOP'S WEEKLY WINNER 

It's got all the right people talking about it...from multiple blue-chip holders to your trending page on Twitter, this Project has had a week in the spotlight, and the way things are looking they may stay on the radar for a while.

Let's go back a bit in time to when the project's first launch dropped.  For our older subscribers here, let us take you back to our winner of 12th April, The Art of Seasons

The Art of Seasons is a complete collection of dynamic illustrations featuring Spring, Summer, Autumn, and Winter by artist DirtyRobot + RENGA Factory. You own art that acts as a gateway passport giving you advanced access to exclusive art. The utility of holding a piece grants you a whitelist for Renga 

And right on cue...this weeks winner is Renga 

The project is taking all the plaudits so far in regards to two of its collections that dropped last month; the Black Box collection and the initial Renga collection. 

The Black Box collection consists of 2265 items which minted at 0.4 ETH per item. This time last week the floor was sitting at an impressive 2.3 ETH. At the current time of writing, this has shot up to 5 ETH.

The Renga collection was a free mint that has also had impressive floor movement over the last 7 days. The floor has risen from 1.2 ETH to 2.8 ETH.

Now, why are the booming and the talk of the town?

There are 4 main factors to be considered:

1. Art - As per their 1st launch the Art of Seasons, they have remained on trend with their art. This consistency has led to unique art that sets the initial blueprint for a potential blue-chip

2. The Community - As with any project destined for big things they need their community. With the Renga community, this comes in the form of loyal devotees who care not for the project's price but for the shared vision, a must.

3. The Black Box Burning Mechanism - if you want your Black Box revealed you need to burn it. Given the project's natural hype the burning of boxes has turned into what can only be described as a gender-reveal event. There is a sense of euphoria and community buzz when a holder reveals on Discord or live on Twitter / Instragam. The retention of hype keeps everyone buzzing for the next reveal.

4. The NFT Story - A pleasant feature of this project, as with the Art of Seasons began as a storytelling drop. Renga has continued with this theme and it has provided the creators with a platform to grow consistently.

THE REKT SECTION 😡

Celebrities in this space often get caught up in their own fame, just because they put their name on something does not guarantee success. Sometimes success is the last thing heading for them, in this case it's a juicy fine.

Kim Kardashian welcome to REKT.

The SEC (U.S Securities and Exchange Commission) has fined Kardashian $1.26m over a $250k EthereumMax endorsement.

The charge arises due to unlawful promoting of crypto security, this is despite the post stating "not financial advice" and "ad". 

This just goes to show no one is really safe.

WHERE WOULD WE BLOW $ETH THIS WEEK?💰

Not financial advice you know the drill!

OK so whats hot enough for some hard earned $ETH this week. 

The Plague - We have been fans of the Plague for a while & have collabed with them too! They have an extremely strong community, have a strong narrative & story + a captivating leader

The Plague Floor- 0.2 ETH / OG Frogs - 0.5 ETH 

Renga Ecosystem - This includes 'The Art of Seasons' / Renga & Renga Black Box. The Ecosystem has pumped hard & they are spreading virally across NFT twitter. Be cautious, with a pump like this we could see a pull back or they could very well continue to rally. Like always it's hard to tell at this stage. But in the long term they have the makings for a solid future. 

T00bs / Y00ts - By Degods - 'Solana Ecosystem'- Project with a proven track record, strong community & leader & innovate with support of a VC backed company 'Dust Labs'. We think they are the Yuga of Solana. 

🔥HOT TRENDS 

In a bull market, trends can change weekly or by the day! But in more bearish sentiments they are slower moving (although still faster than most industries). Below are some trends to keep you are beady eyes on over the coming months. Narrative based NFT Projects

• Projects that tell a story and capture the hearts of ingrain themselves in the minds of their holders minds will be here to stay. Some of the biggest brands in the world we know today are the best story tellers. Look out for projects that create deep connections with their community & bring their projects to life through imagery, story telling, characters & interactive engagement. Yuga Labs & the BAYC ecosystem do this masterfully as you know...Their previous Otherdeed video teaser was Hollywood movie level production. But what are the smaller projects out there we see doing a stellar job too?

• The Plague - We have long been fans of the Plague and had the Founder DePons on our Podcast before mint! - They have a Strong community & leader 'DePons' -The Narrative disrupt Web2 with Web3 via the army of Frogs.

• 10KTF - Mysterious Project lead by Wenew Labs 'Founded by Beeple, Figgie & Guy O'Sheary - The Narrative - Interactive story - Join the fight against the Kaiju

• Renga - Rumoured to be partnered with 10KT

• Sneaks of Nature - Founders with IRL business experience - The Narrative - Story telling via cinematic video - Free the Sneaks!

Projects with Founders who 'Get' Web3 Culture

Its quite rare to find Project founders who understand Web3 culture, marketing & how to drive hype. Often 'The Meme is message' Those can captivate their audience with strong tone & clear intention combined with a dash of humour often drive projects that win. Here are some example of captivating project founders. 

• De Pons - Leader of the Plague - Captivated an Army of Frogs (The Community') with Viral memes

• Voltura - Leader of Psychedelics Anonymous - Known for his epic twitter spaces & cryptic style - The PA community love him.

• FrankDeGods - Founder of Degods & recently Y00ts - Known for his 'unapologetic no bull shit style' & humour, he's made Solana NFTs cool

NFTs that focus on the entertainment industry - 'Music, Film, Sport'

• More of trend we see developing and may not be ripe right this second though like we have believed for a while, the entertainment industry will be disrupted by the NFT & Web3 space.

• How can you benefit from this? Look for projects that are looking to disrupt via Web3. Could this be a Launchpad that launches Music NFTs? A Viral upcoming Artist? or perhaps a Token that is tied to entertainment based NFT project.

• You can check out the Music NFT directory by Dopr here

'Real' Utility Based NFT ProjectsA lot of projects are screaming utility right now. But when we say 'Real Utility' we are talking about real world use cases where NFTs & Web3 offer a 10X better solution than their web2 counterpart, not just whitelists & exclusive content. There are some industry's that aren't necessarily sexy or cool but we feel are ripe for disruption via NFTs & Web3. 

• Property / Real Estate - (Sale & Transfer Property Deed via NFT)

• Ownership of Real world assets (Sale & Transfer of Ownership Via NFT)

• NFT subscriptions - NFTs subscriptions with additional utility

• Courses & Training (Exclusive courses you can sell after you have finished them)

• Land or Ad space in Augmented reality protocols - Land pieces that mirror the real world that can rented out by companies looking to advertise in AR. Think owning land space in Times Square in the most popular AR platform / protocol

• Digital Twins - Think a digital copy of a 'Rolex watch' that you own in real life & officially in the metaverse.

How can you benefit from this? - Seek out protocols & projects looking to address the above use cases. You could benefit by investing in $token, Buying up AR Land / 'AD Space' an NFT or maybe even a company stock. Think beyond buying an 'NFT PFP' for how you can benefit from the growth of the NFT & Web3 industry! 

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.