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- NFT Worlds is making a comeback
NFT Worlds is making a comeback
Crypto Is Dead In America?!
The Triple Scoop
April 25, 2023
GM Scoop fam! Another day another dollar, another truckload of treats to sink our teeth into today π§ Let's dive in. π
ποΈ SCOOPS OF THE WEEK ποΈ
βοΈ NFTβs
Decision Made On Yuga Labs v Ryder
Ex OpenSea Manager's Trial Ready to Start
Solana Added To NFT Tracking App
π¨βπ» WEB3
Romania National NFT Marketplace
A New Social Hub for Web3 Community?
Binance integrates ChatGPT into Web3 academy
πͺ CRYPTO
Bitcoin Whales Spook Crypto Twitter
Coinbase Sues the SEC
Visa Shares plan for Ambitious Crypto Product
Chamath Claims that Crypto Is Dead In America
βοΈ NFTβs
NFT Total Market Cap - $8.12B - 24/hour change +1.06%
Volume Traded Prev 24/hours - $20.6M -23.5%
There is fear across the NFT markets & general sentiment has been low.
Smaller, less relevant collections are retracing & communities are loosing confidence.
This is the result of copy cat projects produced on mass, with little real innovation across the majority of the collections.
With fear comes opportunity. Fear means cheaper blue chips.
The Scoop team are avoiding middle of the road collections. For now and only considering blue chip opportunities.
We expect to see a consolidation of capital into stronger projects.
π UNDERVALUED PROJECTS
Remember Scoop fam, this is all but our humble opinion. But we hold our opinion in high regard. So let's dive in shall we?
Kubz is the predecessor to the upcoming launch of Yoga Petz, meaning owning a Kubz will give you access to a Yoga Pet. YogaPetz will be one of the first major wellness & mindfulness projects in the Web3 space, the project will encompass gamification, token staking & of course Namaste.
Why are we bullish? You probably recall our discussion on the project many scoops ago, Memeland has heavily guided the project format, delivery & brand & we would expect some sort of collaboration down the line. Kubz/YogaPetz has a very active community, if you didn't know it already, you need loyal soldiers in tough market conditions. To round it off, the parent collection 'Keungz Genesis' has held a considerable floor price of 15ETH despite market conditions.
NFT World Genesis Avatars / Gray Boys - Floor Price - 0.1ETH
If you are interested in the Metaverse, which we guess if you're reading you probably are, then you should get clued in on NFT worlds. Rumor on the street is, they are making a comeback.
Back in July 2022, Minecraft announced they would be banning the use of NFT & blockchain technologies within the game. One Problem, NFT worlds was built on Minecraft, which sent the floor price crashing harder than a Tsunami. Rather than crying, moaning & rugging the project, the founders went against the odds, doubling down and going into buildoooor mode, which actually gave rise to their very own gaming engine 'TryMetaFab' without using a single line of Minecraft code.
The story doesn't stop there. There are now 500 other blockchain games being developed on TryMetaFab.
We are bullish on founders who attack harder when the odds are stacked against them. NFT Worlds is coming back stronger than ever with a rebrand & marketing push. Given the worldwide success of Minecraft, and the fact NFT Worlds will offer a decentralized version, the future looks bright.
Purchasing a piece of land in NFT worlds will set you back around 2 ETH, but you can alternatively pick up either a Genesis Avatar or a Gray boy for one-twentieth of the price which delivers you utility & benefits in the game. Gray boys previously hit highs of 2ETH.
At a glance π
Yuga Labs sued Ryder Ripps for creating the project RR/BAYC where the NFTs were identical to the BAYC collection.
The Lawsuit was launched in June and Ryder attempted to block it in August but failed.
The Judge has ruled in favour of Yuga Labs granting injunctive relief and monetary damages (which are to be assessed)
π΅οΈ Scoops take:
This is a landmark decision that will change the world of NFTs. A precedent has been set that IP rights have trumped free speech for instances involving "copycat" collections. It's a positive move for the space as it will squeeze out the derivatives and many other projects that try to emulate. We tend to find that many of these "copycat" projects will end up with extremely low floors or generally rugging. This decision may create a safer space for all.
At a glance π
Nathan Chastain's trial is to begin later this week in New York.
The former head of product stands trial accused of using confidential information about what NFTs were going to be featured on OpenSea's homepage for personal financial gain.
Each count carries a maximum of 20 years in prison.
π΅οΈ Scoops take:
Just like waiting for a bus, you wait forever for one and then two come along. That is what we are facing in our world this week, the second landmark case. The main take from the build-up is the U.S. Attorney's view in that NFTs might be new, but this type of criminal scheme is not. We are seeing a huge explosion of legal issues infesting the space, most commonly as of recently, wash trading. Whatever the decision may be, it will again shape the future we head in.
At a glance π
The Floor App, which is an NFT portfolio tracker, has included support for Solana NFTs.
The Floor App has high ambitions seeing itself as the NFTs version of Coinbase in bringing crypto to the masses.
π΅οΈ Scoops take:
This is a really positive step for mass onboarding. The Floor App is already available on Apple and Google and as we have said before, the more tools that are available to customers, the better as the continued expansions and improvements will ensure we get the best possible experiences.
𧡠THREAD OF THE WEEK
HunterSolaire delivers us a reality check of why 'Whale' activity is more important than ever right now for NFT collections.
NFTs without whales are suffering
Your favorite project is fading away and won't come back
Why whales have never been more important π§΅
β Hunter Solaire α΅α΅ (@huntersolaire_)
1:52 PM β’ Apr 24, 2023
π WEB3
At a glance π
The Romanian government is embracing Web3 afterannouncing the creation of a national NFT marketplace launching April 26th
The project, supported by local and international artists, will aim to promote Romanian culture and talent globally through NFTs.
The national NFT marketplace will provide a platform for artists, creators, and collectors, encouraging innovation in the creative industry and highlighting the economic potential of digital assets and blockchain technology in Romania.
π΅οΈ Scoops take:
Huge demonstration here of the country's forward-thinking approach to embracing Web3 technologies and digital assets. It's a bold move that has the potential to unlock new economic opportunities, propel the creative industry, and showcase Romania's rich cultural heritage on a global stage. Collaborating with local and international artists, democratising access to art, and harnessing the benefits of Web3, Romania sets an inspiring example for other nations to explore the potential of digital assets and blockchain technology in shaping the future of art, culture, and commerce. Go Romania! ποΈββοΈ
At a glance π
Bluesky is Jack Ex Twitter CEO Jack Dorsey's decentralised social media competitor.
BlueSky aims to be an open-source, community-driven project, where developers can collaborate to create a more democratic and transparent social networking ecosystem.
BlueSky has the potential to redefine the way users interact on social media, offering more control and freedom over their digital experiences.
π΅οΈ Scoops take:
Our big brain (bigger beard) friend Mr. Dorsey has been catching attention with this one recently and he's starting to get some traction for good reason. There's a ton of value that decentralisation can bring to socials. Web3 social protocols, like the one underpinning BlueSky (which looks almost identical to Twitter), empower users to carry their digital identity (handle, content, followers) across platforms built on the same protocol. However, the major challenge is finding the value in transitioning to a new platform where no one's hanging out yet...It's a real chicken or egg.
It looks like Bluesky's aiming to become the all-new hangout spot for the crypto community, which feels like the logical niche to target. Whilst Twitter has clearly been the communities stronghold for years this is no mean feat, however with the many concern about Elon's platform - there could very well be an opportunity here to swoop in and capture the market... We'll be watching this one closely... π
At a glance π
Crypto exchange Binance has integrated ChatGPT into its Web3 Academy, with new tool 'Binance Sensei'
The integration of ChatGPT will enable Binance Web3 Academy to offer more interactive, personalized, and engaging educational content, helping users deepen their understanding of the rapidly evolving crypto space.
Binance aims to make crypto and blockchain education more accessible and user-friendly, catering to a diverse range of users from beginners to experienced enthusiasts.
π΅οΈ Scoops take:
Only feels natural that Binance has made this integration - ChatGPT's immense power is unlocking value left right and center for both individuals and businesses alike. Education's one sector that's benefitting hugely from AI and seeing it be used to help educate people on the wonders of Web3 and break down the barriers to entry seems like a truly noble cause to use! π€
πͺ CRYPTO CRUNCH
Global Cryptocurrency $1.15T Trillion - 24/hour change -0.31%
Volume Traded 24/hours - $35.75 Billion +4.34%
We expect bitcoin to either visit $26K fairly shortly or bounce up to 29K before a wick back down.
Overall the crypto markets are trading quite heavily at present. 10% pullbacks in the last 7 days across the majors. With ALT coins pulling back further up to the region of 25%.
We remain bullish on the crypto markets. This is an expected flush/pullback and we will resume the rally soon.
Top Stories
π‘ THE REKT SECTION π‘
20 Nakamigos Holders
At a time when Meme coins are rallying hard, it can be easy to be led astray by the astronomical gains available.
With that, however, comes a lack of self-awareness and the ultimate punishment that self-custody holds.
It has transpired that 20 Nakamigos holders blindly sent ETH to a private address for a meme presale.
Well, the holder of the address following receipt of 60 ETH has disappeared, closing their Twitter account in the process.
We obviously hate the rug that has taken place, but there needs to be a greater understanding of where individuals are sending money.
π WEEKLY WINNER π
Solana has been waiting a while for a new project to take the NFT space by storm.
Over the weekend, they got it.
Mad Lads - come collect your trophy.
The project's mint was delayed 24 hours but this has not derailed the progress.
Following the 10,000-item collection selling out from a respectable mint price of 6.75 Sol, the floor currently sits at 74 Sol with a total volume standing at 576.5k Sol.
A minimum10x has presented itself and once again we applaud those who were able to get involved.
You can check out the collection here.
Annd that's a wrap for today gang!
Love and sprinkles as always, catch you back here soon for the latest
~ Scoop~
*Disclaimer*
The Triple Scoop newsletter & podcast is not financial advice, it is provided for educational, informational, and entertainment purposes only.
