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- OPPORUNITY LIES IN ENS DOMAINS 🚀COULD YOU FIND THE NEXT BIG HITTER? + NFT RAFFLE INSIDE!
OPPORUNITY LIES IN ENS DOMAINS 🚀COULD YOU FIND THE NEXT BIG HITTER? + NFT RAFFLE INSIDE!
State of the market ⚡
The NFT market remains choppy 🌊, Though what’s interesting to see is that based on market cap and NFT holder count the adoption of NFTs remains strong. Sure the total market cap does quite sit at the godly highs of March 2021 ‘$37BN’, we currently sit at around $23BN, though hold your horses, in Aug 2021 when NFTs began to flourish we were sitting at a mere total of ‘4.5BN’. Yep, we have come a long way. What is also interesting is that NFT Holder count sits at an all-time high of 2.5Million! Market participation has grown over 4x since 1 year ago when we were just touching 600k, Now these holders may not all be active, and some of them may have been burned, scammed, or lost their wallets, however, there remains a large number of individuals ready to sharpen their horns when the bulls decide to charge.
That being said, in the words of Peter Theil (Paypal Co-founder) “There is always a bull run somewhere”. Right now we are seeing ENS names surge in popularity (Ethereum name service). Think of them like regular .com domain names but for the Ethereum blockchain. They link human-readable addresses to an ETH address. For example, elonmusk.eth links to ‘0x983110309620D911731Ac0932219af06091b6744’. There were a lot of solid investments made back in the .com boom when individuals strategically acquired top domain names. Voice.com was bought by Michael Saylor for $150K and was later sold to ‘Block One’ The company behind the EOS token for $30 Million for their upcoming decentralized social media platform. The crazy part is despite plowing $150M into the project it seemingly failed and Block one has now pivoted the use of the domain to an NFT marketplace. Voice.com
I digress, but the point is if you can rev up that brain & think of an ENS name with future high-value that’s not yet taken, then you're sitting on a gold mine.
Scoops of the Week 🍦
🍦Circle Launches Euro Stable Coin
🍦Reddit NFT Avatars are here!
🍦LimeWire is back and this time it’s a marketplace
🍦Premier League ups plans before the season starts
Circle Launches Euro Stable Coin
Circle has issued Euro Coin (EUROC) a Stable Coin which is 100% backed by euros held in euro-denominated banking accounts so that it’s always redeemable 1:1 for euros.
The company has previously launched USD Coin (USDC), which is a dollar digital currency with more than $55 billion in circulation.
Somewhat ironic with last weeks news regarding The EU coming down on us Cowboys with regulations but who are we to be offended!
We’ve been told here in Britain that a Digital British Pound is on the horizon……we just need a new Prime Minister and Cabinet first.
Make sure to check out the website to see all the functions of the new coin!
Reddit NFT Avatars are here!
Reddit have launched an NFT-based avatar marketplace that allows you to purchase profile pictures.
It’s been confirmed that you do not need not have a crypto wallet to buy them, so your credit or debit card should be enough, and you can use Reddit’s own wallet product to store them……. some people max out their credit cards on holidays…..degenz do it on profile pictures
The company further announced that they have partnered with Polygon to allow for profile pictures to be minted on chain……the credit card limit survives
Huge move from the 9th most visited website in the world…… we just hope we can maintain anonymity whilst on the page!
LimeWire is back and this time it’s a marketplace
90s Kids all remember those viruses caused by Lime Wire downloads……who thought they’d be back in our life as a NFT Marketplace.
The company announced on 07/07 that they are back for good….just like the viruses caused they never disappeared.
The concept will be bringing digital collectibles created by artists all in one marketplace.
There has been impressive announcements regarding collections to feature which include Travis Barker and Aitch.
Obtaining musical products from Limewire…..is this 2022 or 2005.
Premier League ups plans before the season starts.
The season starts in August but the Premier League is pushing for their NFT plans to be in place.
They have already filed two NFT trademarks with the United States Patent and Trademark Office. One relates to the league’s name and logo and another is based around the trophy.
This one may be a while off yet as all 20 clubs need to sign the proposal off and an insider with knowledge of the situation said that if finalised, a collection is likely to be announced later in the year.
Who needs Fifa 23 for Christmas? A Ronaldo NFT should do the trick!
Scoop’s Weekly Winner 🏆
Maybe being bought crayons for Christmas didn’t suck.
Chromie Squiggle is this week’s winner!
The project was launched last year at the cost of 0.035 ETH and has been nothing but a success.
The last 7 days during this bear market are arguably the most impressive of all.
This time last week the floor sat at 9.5 ETH……now it sits at 13.99 ETH with just 10 items until 15 ETH.
With an impressive 1366ETH 7 day volume, there is only one winner this week.
REKT SECTION 😡
Chris Brown…..welcome to REKT
These fans ain’t loyal to the singer just now following the unsuccessful launch of his NFT which at the time of writing has had 293 purchases out of a 10k collection.
The project is called, The Breezyverse and it’s a thunderstorm right now. As you’ll remember, we shared the creation of this project with you in our 10th June newsletter breaking news section.
With 114 million Instagram followers and 32 million Twitter followers, you would have thought Breezy could have brought more heat.
Such as life in NFTs it’s not all “post to be”.
7 DAY SNAPSHOT 📷
Over the past few days, the market has remained relatively steady as we haven’t seen vast changes. The percentage of decreased listings has remained relatively stable which suggests investors are not scrambling in a panic to offload NFT’s. Moreover, volume has also remained very stable with a little bit of a positive uptrend in the last two days. This is a positive sign for the space and suggests investors are comfortable buying at the moment. Finally, floor prices have remained stable over the past few days, although have been declining slightly due to the increases in the price of $ETH.
Monster NFT Purchase 👾
Golden Grills. This Bored Ape was purchased today after a 240weth ($284,000) bid was accepted this morning. The Ape was purchased in September of last year for 116eth which funnily resulted in a $100,000+ loss for that owner due to the decline in the price of ETH. The signature Admiral jacket trait is what made this ape so sought after, along with the gold teeth and cowboy hat.
What’s Dropped 💧
The characters have revealed and they are absolutely flying on Opensea. The project sits at #1 on the daily Opensea volume charts and has had 1200eth traded in the last 24 hours. After just one day the project has already risen to #16 on the weekly volume chart. Moreover, the floor price has been pushing higher and now sits at a floor of 0.18eth.
The Solana-based project has gained some serious momentum since launching two days ago and is beginning to rise up the daily volume charts on Opensea. The project sits at #10 for the most volume on Opensea after having 10,000Sol traded in the last 24 hours. This is up massively considering the project only did around 2000Sol on its first day.
Whale Watch 🐋
This week there has been some interesting whale activity once again.
Whale Buying
11 Whales purchased 24 Otherdeeds at a total cost of $285,000.
10 Whales purchased 125 ENS names at a total cost of $120,000.
Whale Selling
9 Whales sold 9 Clone X at a total price of $150,000.
9 Whales sold 17 Moonbirds Oddities at a total price of $64,000.
This suggests to us that whales are still stacking up on Otherdeeds which still makes this a strong buy in today’s market. It also suggests that whales are hopping back on the ENS trend which makes this a potentially profitable trend to jump in on. Regarding the whale selling it appears to be a good time to offload Clone X’s after the announcement regarding IP was made this week. It also appears to be a decent time to offload Moonbirds Oddities after the Moonbirds leaks this week revealing that Birds and Proof would have the priority regarding Moonbirds Ravens.
Alpha - NFT RAFFLE 💪
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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.
We would love to get to know you and maybe grab a sundae one day 🍨🍨