Who got that Friday feeling?? ⚡️

SCOOPS OF THE WEEK 

⛓️ NFT’s

• Binance Launches NFT Lending

• $MEME token is incoming for Memeland Holders

• Nike Sells over $1M of virtual trainers

👨‍💻 WEB3

• GTA6 To Include Crypto Play-To-Earn Rewards

• Chinese Gov’t Backed Metaverse Plans

• Formula 1 Zooms Into Web3

🪙 CRYPTO

• The Relationship between Crypto & Wider economic data is improving

• Losses from UK Crypto Fraud have jumped 40%

• What will happen if China Lifts the Infamous Crypto ban?!

⛓️ NFT’s

• NFT Total Market Cap $7.37B - 24/hour change -0.33%

• Volume Traded 24/hours - $17.2M -0.33%

• It is certainly generative & fine art season at the moment, Jack Butcher’s Opepen’s floor price has soared nearly 100% in the last few days and now Jack Butcher’s second collection ‘Elements’ has sold out on their Launch. Art is timeless with or without the blockchain. The category has held prevalence since the inception of the NFT markets.

BINANCE LAUNCHES NFT LENDING

At a glance 🔎 

• Users will be able to take crypto loans using NFTs at collateral

• The feature currently supports ETH borrowing against “blue-chip” NFTs, such as BAYC, MAYC and Azuki.

• Interest rates on NFT Loans will be set at 7.91% per annum.

• Users will be able to take loans valued at 40-60% of the total value of their NFTs

• Major NFT marketplace Blur currently owns 82% of the NFT lending market share

🕵️ Scoops take:

The NFT-fi space is undoubtedly here to stay. Some of the earliest projects ‘JPEG’D’ started this movement a year ago, and since then major players are like BLUR to further that, now Binance is looking to take a share of the market. The illiquidity of the NFTs has plagued the space for some time, but NFTfi offers a way for users to gain liquidity from their NFTs without having to sell them.

As the NFT space becomes more liquid, the assets themselves become more attractive to outside investors, secondly, larger players like Binance developing infrastructure for the NFT space it’s a huge vote of confidence that NFTs are here to stay and that they have a very bright future ahead.

 $MEME token drop incoming for MEMELAND

At a glance 🔎 

• The much anticipated $MEME token airdrop is coming

• The date is yet to be announced but can be expected very soon.

• Holders of the NFTs MVP / Potatoz / Captainz will share 23% of the token airdrop.

• Speculated that the $MEME token will power the Memland Ecosystem, similarly to $APE and Yuga.

🕵️ Scoops take:

Is the $MEME token from the Memeland, the meme coin to end all meme coins?

Memeland is a project that market leader & possibly one of our favorites. They are a strong rival against the Jugganauts ‘Yuga Labs’. In our opinion, Memeland has the most credible leader in the space ‘9GAGCEO’. He holds the community of the highest importance and has personally spent millions of dollars, minting, buying & experimenting with other NFT projects to understand the mistakes other projects have made, so Memeland’s community doesn’t have to suffer the same mistakes.

The excitement is certainly heating up for the community. Depending on the market cap & demand of the $MEME token will depend on how many dollars holders of Memeland NFTs will make.

The NFTs with the Memeland project have certainly held healthy floor prices given the upcoming drop. What we do expect is an NFT sell-off once the $MEME token has been dropped, however, we are extremely bullish on the long-term trajectory of Memeland, therefore it’s likely that before long a rebound in the NFT value will take place.

Below is the thread from @NAV_NFT that speculates on the potential value of the $MEME token for holders.

NIKE ‘OF1’ VIRTUAL TRAINERS SURPASSES A $1MILLION IN SALES

At a glance 🔎 

• Web3 Nike community platform .Swoosh dropped ‘OF1’ Virtual NFT trainers.

• The Virtual trainer drop faced continued delays & technical difficulties

• Despite the challenges, Nike minted a cool $1.3 Million dollars in sales, selling 66,000 Nike Virtual Creations at $19.82. Nike has classed the drop as a success.

• The sale is still ongoing and will conclude June 1st

  🕵️ Scoops take:

  Nike is one of the few corporate giants that continues to deliver both in and outside the Web3 world. Throughout their history, they have always been pioneers of innovation, so it is no surprise that they continue to apply both resources and determination to succeed in the world of Web3 and not get left behind.

🧵 THREAD OF THE WEEK

You will have heard us mention them before, but Ordinals, BRC-20s and now SRC-20s are quickly becoming the new ‘Meta’, especially for the NFT community. We recommend familiarising yourself & becoming up to speed with the new technology.

The below thread is a great start to BRC-20’s

🌐 WEB3

GTA6 To Include Crypto Play-To-Earn Rewards

At a glance 🔎

• GTA 6, by Rockstar Games, may feature a 'Play-to-Earn' model, bringing cryptocurrency into mainstream gaming.

• Players could earn in-game tokens as rewards, turning gaming time into potential income.

• Critics worry about regulatory issues and potential misuse, but this innovation could merge gaming, entertainment, and economics in a new way.

🕵️ Scoops take:

Epic on all kinds of levels… A seismic shift in the gaming industry, transforming passive recreation into an economic opportunity. Rockstar Games, by embracing 'Play-to-Earn' mechanisms, reinforces the idea that gaming should not only be about achieving high scores but also about rewarding dedication and skill with tangible gains.

With blockchain elements, players' unique digital assets and in-game progress can have real-world value, blurring the line between virtual and physical economies. This transition could alter our perception of gaming, elevating it from mere entertainment to a legitimate income source for millions and we simply cannot wait to get our hands on a copy (rumored to be in 2024)

Chinese Gov’t backed Metaverse Plans

At a glance 🔎

• The Chinese city of Changsha has proposed an official "Metaverse City Plan" to promote the integration of virtual and real worlds in its urban development.

• The plan envisions the creation of virtual public services, such as online government services, and includes the use of blockchain technology to secure digital identities and assets.

• Despite China's historically cautious stance on cryptocurrencies, the proposal signifies the country's interest in embracing and harnessing the potentials of Web3 technologies and the metaverse.

🕵️ Scoops take:

This is one bold move that signals that even amidst China's traditionally guarded approach to all things crypto, they're not shying away from the Web3 wave. The plan envisages a blurring of lines between the virtual and the physical, with online public services and a secure digital identity system. It's like your city council meeting just got an upgrade to a science fiction movie.

This move isn't just a flashy headline—it shows the undeniable momentum behind the global shift towards the metaverse, and a strong indication that even the most traditional entities can't ignore the transformational potential of Web3.

Formula 1 Zooms Into Web3

At a glance 🔎

• Platinum Group, the official ticket provider for Formula 1, is launching a pilot program for NFT tickets for an upcoming global racing event.

• The NFT tickets will provide exclusive content and experiences, opening a new channel for fan engagement in the F1 racing community.

• This is the first step of Platinum Group's broader strategy to integrate blockchain technology into their business, demonstrating a growing trend of NFTs and blockchain in the sports industry.

🕵️ Scoops take:

We’re seeing NFT ticketing gaining momentum particularly in the sports and music scenes, and for good reason. Upgrades to fan experiences, exclusive digital content but also unforgettable, physical experiences. Formula 1 getting on board is a massively positive statement for the concept and will likely trigger a wave of international interest in replicating the model. Great news for fans, great news for Web3. Let’s gooo! 🏎️💨

🪙 CRYPTO CRUNCH

• Crypto Total Market Cap $1.12T - 24/hour change +0.94%

• Volume Traded 24/hours - $27.4B +19.81%

• We are still in a ranging period for the crypto majors, Bitcoin has dropped to the Mid-26K range and could either make a pop to the upside or retrace down.

• The market is still eyeing the $32-35K region, whilst more short-term bearish traders are looking to take the downsides of $23k-25K.

• It’s a tightrope. If you are a long-term investor we remain very bullish over the next 12 months, though on a shorter time frame, it is hard to tell.

• A strong long-term hold buy range for us is anything from current prices down all the way down $20K.

  Upcoming crypto narratives

• - VR/AR Based tokens based

• - Liquid staking derivatives

• - Cross Chain Projects

• - Real Yield Bearing tokens

  Top stories

• The relationship between Crypto & Wider Economic news is improving

• Losses to UK Crypto Fraud have jumped 40% this year

• What will happen if China lifts its infamous crypto ban?!

😡 THE REKT SECTION 😡

Basketball Hall of famer Shaquille O’Neal A.K.A ‘SHAQ’ has been hit with lawsuits over the promotion Solana NFT project Astrals.

The lawsuit was brought to Shaq by law firms Moskowitz Law firm and Boies Schiller Flexner LLP in tandem, stating that the NFT Astral’s sales were unregistered securities and were attached to promises made by the former NBA player.

Celebrities keep getting the book thrown at them as far as NFT promotion goes, and you think it would put them off, but we highly doubt this is the last of celebrity promotion we see in the world of Web3.

Shaq my friend, you have not only been served, but you been REKT.

🏆 WEEKLY WINNER 🏆

Jack Butcher - Founder of VisualiseValue

Jack Butcher has had a storming week, he is the Founder of VisualiseValue the studio behind VV checks, Opepen & the most recently sold-out collection ELEMENTS.

Checks VV - Elements sold out yesterday with 450ETH ($820k) raised from the 129 on Sale.

On top of ELEMENTS selling out, the Opepen collection has rocketed up in price. Notably with one piece reaching an all-time high of 11ETH and the overall Floor rallying from 0.35 to 0.75ETH.

Congrats to Jack, and it goes to show that outside of strong community-based projects like BAYC, Degods & Memeland the fine art categories are the second contender in this space.

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.