Who is ready for 2024

Author

The Triple Scoop
December 30, 2023

The Triple Scoop

 

GM to the 41 new readers who joined this week. Without further ado. LFG

SCOOPS OF THE WEEK 

⛓️ NFT’s

  • Starbucks Announces Costa Rica Trip

  • The Plague Shares Equity

  • 10 Record-Breaking Sales Of 2023

👨‍💻 WEB3

  • What To Expect From Web3 In 2024

  • Chinese Web3 VC To Launch $10B Accelerator

  • Vitalik Buterin’s New Vision For Web3

🪙 CRYPTO

  • Will the Bitcoin ETF news be a ‘Buy the Rumour Sell the news’ event?

  • Sam Bankman Fried won't face a second trial

  • JP Morgan CEO Jamie Dimon is being criticized by the crypto community on X

  • 💎 PREMIUM

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 HOT NFT MARKETS FOR 2024

Examining the Best NFT Markets to Prepare for 2024 - Yafis News Net

These are unique tokens that are powered by blockchain technology. It is used to own and trade digital assets such as digital art, a digital copy of music,

yafis.net/2023/12/30/examining-the-best-nft-markets-to-prepare-for-2024/?feed_id=361819

⛓️ NFT’s

  • NFT Total Market Cap $8.05B - 24/hour change -2.97%

  • NFT Total Volume $19.9M - 24/hour change +5.85%

    Market Overview: 2023 - TO 2024

  • The NFT market has faced challenges like ridicule, scams, and a dip in demand during the crypto winter, but we look forward to a positive 2024

  • Recent momentum in crypto has sparked renewed interest in NFTs from investors and the community.

  • Despite criticism for extravagant purchases, there's a widespread belief in the substantial underlying value and diverse use cases of NFTs.

  • NFTs are considered cultural artifacts in the crypto space, offering a more engaging experience than traditional tokens.

  • Many NFT holders retain their assets not just for monetary gains but for the social and cultural value they bring.

  • Yat Siu, executive chairman of Animoca Brands, notes that making money validates holders' convictions, but other factors, such as social status and perceived value, drive persistent ownership.

  • Investing in NFTs is compared to buying diamonds, emphasizing the enhancement of users' social standing.

  • Some NFT communities function as fraternity clubs, bonding people with similar interests.

  • In the past 30 days, there have been about 120,000 more NFT buyers than sellers, and sales volumes increased by 72.7% to about $1.66 billion, according to NFT aggregator CryptoSlam.

  • Updates include upcoming rewards from Blast, Tensor, Frame, and Starbucks Odyssey offering significant rewards for top collectors.

  • Axie Infinity's Axies are ready to evolve, and former President Trump reportedly dumped $ETH from his NFT gains.

  • OpenEdition Set 26 was launched, and PixelVault's $GG token will be listed on Bybit tomorrow.

    Here is our list of solid pickups below.

    • CrypToadz by Gremplin

    • Parallel Avatars

    • The Grapes

    • Creepz

    • Opepen

    • The Captainz

    • Yoga Petz

    • Kubz

    • Pudgy Penguins / Lil Pudgys

    • Sproto Gremlins

    • MF’ers

    • OnChain Monkey

Starbucks Announces Costa Rica Trip - Top holders qualify for the trip.

At a glance 🔎 

  • The top 20 eligible members with the most Odyssey points on the 1st of January 2024 will qualify for the trip.

  • Details of the trip include an all-expenses paid trip to Costa Rica, meeting with coffee experts and learning more about the sourcing and roasting processes.

  • The 2023 Odyssey achievement programme is now available and gives members a head start on collecting points for 2024.

🕵️ Scoops take:

They have played a blinder so far in their Odyssey programme journey - at one point, every single investor was in profit from purchasing at the outset.

Customers were being taken on a digital journey to heaven but now with this trip going ahead, they are going to coffee heaven.

We see so many projects over-promise and under-deliver but this isn’t the case here.

All aboard the double espresso express.

The Plague Shares Equity - A true gesture of giving back to the community.

At a glance 🔎

  • The project has announced that all members of the community will receive a percentage of equity in the company.

  • The main reason for this decision is that giving equity away was one of the easiest legal ways to reward those who helped make the project successful.

  • Pons will retain 60% of preferred shares and the remaining 40% will become common shares.

  • Pons took to X to share a detailed explanation which you can read below

🕵️ Scoops take:

Talk about connecting the community to the leadership - despite the value not being set (and whatever it may be) this is arguably one of the most genuine attempts we have witnessed in community rewards.

At the end of the day, a project will not have long-term success without a strong community behind it and what Pons has done here is build an army for the future.

It would appear that the season of gifting has been truly adopted.

10 Record-Breaking Sales Of 2023 - Some of these sales will make you think the bear never existed.

At a glance 🔎

  • As we head into the final week of 2023, let’s look back at the top 10 sales from the last 12 months.

  • If you were to have guessed what would make the top 10 at the end of 2022 you wouldn’t have been far off.

🕵️ Scoops take: 

What these sales show is that there is still extreme interest in confidence in the world of digital art.

Let’s hope we see some of these records smashed as we leave the year of the bear behind.

Here are the top 10: All $ prices are based on the price of ETH at the time of sale.

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🌐 WEB3

At a glance 🔎

  • Web3's growth in 2024 includes more Web2 companies embracing it and stablecoin volumes surpassing Visa.

  • The Brevan Howard Digital team reflects on their 2023 predictions, with a mix of hits and misses, while anticipating significant developments in gaming, brands, stablecoins, Ethereum, and more.

  • Abu Dhabi emerges as a key destination for Web3 founders due to its proactive regulatory approach, attracting traditional finance and Web3 talent away from the United States.

    🕵️ Scoops take:

2024 is hotting up to take Web3 to a whole new level folks. Brevan Howard Digital's crystal ball predicts some exciting stuff ahead. We're talking big-name Web2 companies diving headfirst into Web3, stablecoins giving Visa a run for its money, and gaming going supernova. Sure, we had a few misses in 2023, but who's keeping score, right? And Abu Dhabi? Well, it's shaping up to be the hottest new Web3 hub. So get ready for a wild ride because it seems like Web3's future is brighter than ever and we at the Scoop can’t wait to see what the year’s got in store for us 🚀

At a glance 🔎

  • GBA Capital, a Chinese VC firm, plans to launch a $10-billion Web3 fund to invest in startups focusing on virtual reality, the metaverse, and NFTs.

  • The fund aims to transform the Guangdong-Hong Kong-Macao economic area into the world's "meta-asset capital" and expand its visibility globally.

  • GBA Capital, backed by China's National Engineering Laboratory, focuses on digital economy investments and aims to provide comprehensive support to enterprises in the field.

    🕵️ Scoops take:

China's GBA Capital is coming in hot with a $10-billion Web3 fund announcement, and it's got us all sorts of excited about the future. This ain't your grandma's venture capital; they're diving headfirst into virtual reality, the metaverse, and NFT startups. It's like they're saying, "Move over, Silicon Valley, we're creating the world's 'meta-asset capital' in the Guangdong-Hong Kong-Macao economic area." And that's not all – they're taking this show on the road with "meta-asset global tours" to spread the word. With Web3 heating up in the Guangdong-Hong Kong-Macao Bay Area, it looks like 2024 will be one heck of a ride for the digital economy.

  • Vitalik Buterin, Ethereum co-founder, expressed concern that the original vision of Web3, focused on decentralisation, has taken a back seat as many projects prioritise other aspects.

  • Buterin attributed this shift to rising transaction fees, which have made blockchain applications less practical for non-financial use cases.

  • Despite these challenges, Buterin sees hope in Ethereum's advancements in scaling solutions and privacy technologies like zero-knowledge proofs, envisioning a future where Ethereum serves as a hub for a wide range of applications while upholding core values like decentralisation and censorship resistance.

Vitalik Buterin, the brain behind Ethereum, isn't exactly thrilled with how Web3 has been evolving. In a recent blog post, he's basically saying, "Hey, folks, remember when Web3 was all about decentralization and shaking up the status quo?" Well, it seems that ethos has taken a backseat lately. Buterin points a finger at rising transaction fees as the main culprit. When it costs a small fortune just to do anything on the blockchain, people naturally lean towards more financially driven activities. But there's a glimmer of hope – Buterin sees potential in scaling solutions and privacy tech. Maybe Web3 can still find its true north.

🪙 CRYPTO CRUNCH

  • Crypto Total Market Cap $1.62T - 24/hour change +2.21%

    • Solana stages an impressive comeback, bouncing from recent lows of $98 to its current position at $104, marking a 5.8% rebound relative to Ethereum (ETH).

    • Bitcoin (BTC) and Ethereum experience more modest gains, reaching prices of $42.8K and $2319, respectively.

    • ETH/BTC ratio holds at 0.055, but Solana's outperformance is evident as SOL/ETH climbs back to 0.046.

    • Funding rates for SOL drop significantly in the last two hours, from over 100% annually to the range of 50-60%, suggesting a shift in leverage.

    • Market dynamics hint at a potential rally, challenging the cautious approach taken in recent days.

    • Caution advises preferring spot majors over excessive leverage, altcoins, or meme coins.

    • The strategy involves navigating the bull market by adjusting exposure to riskier assets and strategically rotating back to major cryptocurrencies.

    • With 2.5 days left in the year, attention shifts to the potential approval of a spot BTC ETF, adding anticipation to the market.

    • The final deadline on January 10th approaches, setting the stage for an exciting and potentially game-changing period in the crypto space.

    Crypto narratives to focus on for the New Year.

  • - AI Infrastructure / AI tokens.

  • - Metaverse & gaming tokens

  • - Social-Fi / Gambefi

  • - RWA - Real-World Asset tokens

  • - New Layer 1’s

  • - Telegram trading Bot tokens

  • - Privacy Dex’s

Top Stories

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😡 THE REKT SECTION 😡

CoinTelegraph Intern

We have decided to look back over the year for this edition's section and pick a standout REKT.

With a REKT every newsletter, you all know too well how many we had to pick from!

Without further ado, let us take you back to October 2023.

The CoinTelegraph X account posted that the SEC has approved Blackrock’s ETF which led to a frenzy of other accounts Tweeting the news.

It transpired that the news was Fake and was made up by a CoinTelegraph Intern.

Rumors then circulated that the intern made $2.25m profit on RollBit and then Tweeted from a personal account saying “Thanks for the exit liquidity”

The SEC responded to the news by saying “Be careful what you read about online”

The rumor caused 100m in liquidations and created $35bn in volume.

Bitcoin did of course rally after this and it showed the appetite for a bull however, the sheer volume liquidated ruined plenty of positions and it was all down to fake news.

🏆 WEEKLY WINNER 🏆

Pudgy Penguins

We have decided to look back over the year for this edition's section and pick a standout Winner.

In our 1st edition of this year “NFT Projects You Can’t Ignore in 2023” we had this to say about Pudgy Penguins:

“Since Luca Netz took over the Pudgy Penguins ecosystem the project has gone from strength to strength and has now become highly respected. They have bolstered their team with top advisors (Pudgy Board) & have gotten serious about building out the brand & franchise. Given the positive traction these guys have gained throughout the bearish period & the positive introduction of new leadership we expect these projects to do very well throughout 2023 and beyond. “

Based on how their 2023 went, you would be a fool to even suggest there was a bear market.

At the end of September, the Pudgys hit Walmart as part of the Walmart pallet programme where they received a unique display for 6 weeks and holders benefitted due to the royalties kicking in on every sold toy.

This was following the Amazon release of the toys which reached number 2 in Amazon best sellers.

Momentum seriously shifted in the 2nd half of the year as had you bought a Pudgy in July, you would have been 4 ETH up by the beginning of December.

The start of December proved to be the time when Pudgy’s value shone through, with the NFTs rising a further 3 ETH to 10.3ETH displaying a 14-day profit of 5 ETH.

With Pudgy World being announced, it is certainly a very exciting year ahead for the project and if they continue into 2024 as they ended 2023, holders are in for an amazing time.

The final statistics for the year are as follows:

January 1st 2023 - 6.3 ETH

August 25th - 3.76 ETH

October 25th - 4.93 ETH

December 14th - 11 ETH

December 29th - 11.29 ETH

2023 - The year the flightless birds flew.

Welcome to the exclusive Member-only section of Triple Scoop  

Feast your eyes on the delights, surprises & Alpha below.

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🪙 CRYPTO

TOP SMART MONEY BUYS LAST 24/HOURS

WHAT SMART MONEY IS BULLISH ON / HOLDING

2024 Crypto Narratives Overview

1. Real-World Assets (RWA) - Avalanche ($AVAX)

  • Avalanche's strategic move towards becoming the RWA and FX chain is gaining momentum.

  • Attracting interest from significant institutions such as JPM, Citi, and Wisdom Tree.

2. Cosmos Narrative - Osmosis ($OSMO)

  • Osmosis is positioning itself as the primary liquidity hub for Cosmos, Celestia, and dydx.

  • Hints suggest Osmosis might evolve beyond a liquidity hub, potentially driving native $BTC volume.

3. EVM Expansion - Solana ($SOL)

  • Solana successfully expands into various narratives, including high transactions per second (TPS), mobile integration via Saga, Defi resurgence, NFTs via MadLadsNFT, and airdrops.

  • Building a strong community of builders is a crucial aspect.

4. Modularity Trend - Celestia ($TIA)

  • The focus on modularity emerges as a strong narrative in 2024, allowing projects to deploy and build easily.

  • Anticipating projects allocating tokens to $TIA stakers.

5. NFT Resilience - DokyoWorld

  • Despite a 90% decline in NFT transactions from 2021 peaks, DokyoWorld stands out by prioritizing brand recognition and community building.

6. Gaming Opportunities

  • Expansive market opportunities with over 3 billion global gamers.

  • Shifted focus to projects building on Avalanche due to a strong product-market fit created by subnets.

  • Keeping an eye on playSHRAPNEL, DomiOnline, and GunzillaGames.

7. Memes as Cultural Representations

  • Memes evolve beyond Dogecoin days, becoming cultural representations.

  • Solana's $BONK and Avalanche's $COQ showcase significant returns, emphasizing the strength of communities.

8. Gamble Fi - Improving Gambling Experiences

  • Similar to gaming, blockchain-based gambling apps enhance transparency.

  • Monitoring WINRProtocol on Solana and LEVR_bet on Avalanche.

Guidance for 2024

  • Success in the 2024 cycle hinges on achieving a strong product-market fit, attracting new users, and offering scalable solutions.

  • Encourages investors to identify narratives that align with these criteria and emphasizes the importance of sticking to a long-term plan for wealth accumulation.

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