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Is this Pokemon Go's Web3 rival?
The Triple Scoop
November 17, 2023
GM to the 23 new readers who joined this week. Without further ado. LFG
SCOOPS OF THE WEEK
⛓️ NFT’s
Taproot Wizards Raises $7.5m
LooksRare Goes To Zero Fees
Liquid Delegate Launches
👨💻 WEB3
Blockchain.com Lands $110M Investment
Mutant Ape Planet' NFT Developer Charged In $3M Fraud Case
Console Wars: The Race to Web3 With Sony, Microsoft Et Al
🪙 CRYPTO
SEC postpones Hasdex BTC ETF & Greyscale ETH ETF
Coinbase is bullish on how much capital ETFs can bring into Crypto
My First Crypto Sex Party
💎 Premium
⛓️ NFT’s
L3E7 Is this Pokemon Go’s Web3 Rival?
The Web3 Genesis gaming NFT from L3E7 launched for free yesterday and shot up in the floor to 2.44ETH. Pretty Impressive. This is giving us 2021 Bull market vibes. For a collection to pull these numbers at launch is great to see and a great sign of what is to come moving forward.
L3E7 offers a thrilling journey through the virtual realms of the metaverse, it’s an upcoming web3-enabled game that has set the stage for a groundbreaking gaming experience. This cyberpunk-infused masterpiece, reminiscent of the iconic PokemonGO, leverages Location Based Service (LBS) technology to immerse players in a meticulously crafted AI-rendered world. What sets L3E7 apart is its commitment to a decentralized economy, with the ecosystem token, $world, and an astounding 20% of in-game transaction revenue shared among Genesis NFT holders. The visionary team behind L3E7, formerly a powerhouse subunit of Tencent Games, brings unparalleled expertise, having crafted 50 games since 2009, with 25 of them being AAA console games. Their track record includes producing a top-grossing LBS game with over $400 million in revenue and 30 million users.
Given the sharp rise from free mint to over 2 ETH, it will be interesting to see if these bad boys drop in price, or continue to rise. Bear in mind this collection is in short supply with just 600 pieces available, with the rise of Web3 gaming, combined with a stellar team & short supply, we feel the chances of these performing well in the coming months are high.
NFT Total Market Cap $7.58B - 24/hour change -12.61%
Volume Traded 24/hours - $13.5M +4%
Sentiment is holding up and volume is much higher than we have seen in previous months.
It is now really starting to feel like the starting to feel that wider spread interest is taking hold.
Zooming out, the blue-chip index over the past month has been on a steady trajectory to the upside.
On top of that, it seems like confidence for new projects to launch now is back, when previously unless it was a generative art drop, projects either held off or flopped their launch.
With Solana $SOL gaining significant momentum, naturally, the $SOL NFT market has started to attract attention, If you don’t mind diving into the world of $SOL NFTs right now they are looking quite fruitful.
Here is our list of solid pickups below.
CrypToadz by Gremplin
Opepen
The Captainz
Yoga Petz
Kubz
Lil Pudgys
Sproto Gremlins
MF’ers
OnChain Monkey
At a glance 🔎
The project offers a collection of Microsoft Paint images of wizards dating back to a 2013 Bitcoin meme.
Bitcoin Frontier Front was one of the major investors following the launch of its accelerator program for Ordinals startups.
Ordinals NFTs continue to soar.
🕵️ Scoops take:
Ordinals are in their own bull right now and nothing can stop it.
The ORDI token price is nearing its ATH and is up more than 845% from its lowest point this year. If this doesn’t scream bullish intent we don’t know what will!
Volume is pumping on Ordinals and over the last 24 hours it was over $20m.
Taproot Wizards are one of many that are seeing conviction and long may it continue.
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At a glance 🔎
The marketplace has implemented a zero-fee policy for all NFT sales until the 16th of December 2023.
This means sellers will receive the full value of any listed items without a single deduction.
This play is seen as a direct challenge to OpenSea.
🕵️ Scoops take:
Those who were here for the last bull will know how much stress gas fees caused.
The best example was the Otherside Land sale where gas fees were hitting ridiculous levels of around $6000 - we saw more bailouts than the banks in 2008!
Eliminating fees for selling could bring a whole new wave of clients to the marketplace and will potentially leave OpenSea looking red-faced (only for the next month)
Customers having extra in their pocket is always what we want so take advantage whilst you can.
At a glance 🔎
They initially launched back in Septemebr 2022 allowing holders to delegate utility.
The new Marketplace will allow anyone to buy and sell these utilities.
The example provided is if someone owns a Bored Ape and wants to rent out the delegate rights for a couple of months as they’d rather the ETH than a potential airdrop, you deposit the Ape into a smart contract and you receive two tokens, a principle token and a delegate token. The owner keeps the principle token (the right to claim the NFT) and sells the delegate token on the marketplace.
🕵️ Scoops take:
We love this idea because it removes the risk of using the whole NFT as security in a loan - a process we have seen a lot lately.
This is a massive opportunity for everyone to win, if you have an eye for the future value of rights then this could be your moment or if you hold an NFT that is likely to have e.g. a popular airdrop, you can cash it on the potential.
There is money available for everyone here, let’s get it!
🌐 WEB3
At a glance 🔎
Blockchain.com secured a $110 million funding round, now valued below its previous $14 billion.
The round was led by Kingsway Capital with Lakestar, Lightspeed Venture Partners, and Coinbase Ventures participating.
Despite a workforce reduction in January, the recent crypto market recovery has seen Bitcoin prices rebound significantly.
🕵️ Scoops take:
Sounds impressive on the surface, and whilst this latest round is still, significant, it’s still a pretty sobering recalibration in the crypto world. It's like watching a star athlete, once at the top of their game, now adjusting to a less flashy but still crucial role. The reduced valuation reflects the broader market's shift from wild optimism to cautious realism. This funding isn't just about survival; it's a strategic play in a maturing market that still believes in the long game of crypto 👌
At a glance 🔎
Aurelien Michel, creator of Mutant Ape Planet NFTs, pleads guilty to a $2.9 million rug pull scam.
Michel faces a $1.4 million fine and up to five years in prison for wire fraud conspiracy.
The Mutant Ape Planet scheme, unrelated to the popular Mutant Ape Yacht Club, exploited investor interest in NFTs and quickly siphoned funds post-sale.
🕵️ Scoops take:
This is what you get for being a bag egg kids. A cold hard reality check: the wild west of digital promises can lead to real jail time. Promising a digital utopia but delivering a vanishing act, Michel blamed investor 'toxicity' for his exit. But "they were mean" didn't hold up in court. Now facing up to five years, his case signals a new era where digital deceit meets tangible consequences. Well done dude, you’ve officially rugged yourself 👏
At a glance 🔎
Sony and Microsoft are subtly advancing towards integrating Web3 gaming, leveraging blockchain for cross-game asset transfers and wallet compatibility.
The gaming industry is exploring Web3 to enable digital asset ownership, with Ubisoft and EA considering NFTs and play-to-earn models.
This shift aims to transform gaming ecosystems, allowing players to own and trade digital assets across platforms, potentially countering the rise of cloud gaming.
🕵️ Scoops take:
Imagine a world where your digital treasures, earned in one game, follow you across platforms, much like your favorite character's journey across a series of novels. This shift isn't just about new tech; it's redefining gaming's future, turning every virtual adventure into a part of your digital legacy. It's like stepping into a universe where your gaming achievements and assets become part of a universal gaming passport. A significant step, not to be overlooked!
🪙 CRYPTO CRUNCH
Crypto Total Market Cap $1.39T - 24/hour change -3.95%
Greed is still high throughout the market.
The SEC has delayed Hashdex's ETF application, suggesting a potential delay in any approval until the Jan 10th deadline.
Despite that Following the announcement, there was a significant uptick in crypto prices, with BTC reaching almost 38K and ETH rising 2080.
It looks like the market is loving the ‘Buy the rumor’ phase of the market. Often when anticipated news finally comes prices retrace.
Following the uptick, prices have dropped again, with BTC falling to 36.5K and ETH briefly dipping below 2K. Bear in mind though, that we are still in very bullish pastures.
The market is expected to remain choppy, but with an overall upward trajectory, which will benefit the sit-and-wait spot position holders but pose challenges for swing traders & especially with leveraged positions.
Crypto narratives to focus on this Fall
- AI Infrastructure / AI tokens.
- New Layer 1’s
- Social-Fi /Gambefi
- Telegram trading Bot tokens
- Privacy Dex’s
- Revenue Sharing projects
- Liquid Staking derivative projects
- Metaverse & gaming tokens
- RWA - Real-World Asset tokens
Top Stories
😡 THE REKT SECTION 😡
Aurelien Michel
The Mutant Ape Planet NFT developer has pleaded guilty in U.S. Federal Court following the rug pull of the project which netted $3m.
He has agreed to pay $1.4m in forfeiture but still faces up to 5 years in prison for his exploit.
One thing we hated the most during the bull run was all the crap Ape Derivites we were seeing that clearly had no structure, just a literal copy and paste of the successful Mutant Ape.
This is another page we are happy to see close.
🏆 WEEKLY WINNER 🏆
Mad Lads
Solana is absolutely flying right now and it’s no coincidence that the top project that is doing everything right is breaking down the barriers.
They are outperforming a number of big ETH projects including DeGods as they surpassed the $6k mark reaching their all-time high!
The floor is currently 104 SOL ($6390) - up from 40 SOL ($1760) this time last week.
Those bullish in the top projects in Ordinals and Solana will tell you that the bear has run away and gone into hibernation.
Long May it continue!
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