GM Scoop Family. You've been missed. Now let's dive in.

🍦STATE OF THE MARKET

NFT

• NFT total market cap - $21.72 Billion dollars (43x smaller than the Crypto Market) - A Very very slight uptick since last week. Bullish?

• NFT trading volume is up last 7 days - 3.4% compared to week prior.

• The 30-day Profit & Loss shows that losing traders are in abundance in comparison to winning traders.

• Whales seem to be scooping up pretty much every collection in the Yuga ecosystem from Apes to the Otherdeeds and also Valhalla? Valhalla has taken some FUD, but the whales love them. Whales are whales for a reason right..?

Crypto

• Crypto total market cap - $874Billion (43x larger than the NFT market).

• Up + $10 Billion from last week

• $APE Coin has been on its own bull run this week - up 31%+

• It remains that the FTX contagion & the effect it has on the markets is not yet priced in.

• ETH is up 9.6 % in the last 7 days.

• BTC is up 4.5 % in the last 7 days.

• Trends & Narratives to watch remain the same as last week - Decentralised exchange, wallet tokens, and decentralized browser tokens.

• Surprise. Surprise. Look what made some moves. (BlockWallet - $BLANK) Decentralized Private Wallet token)

Gems for your radar

• $MASQ - Internet Browser

• $BLANK - Blockwallet - Private wallet token

Scoops Take - We Believe a final market capitulation (downturn) is coming for the crypto markets and the recent pumps could be a sucker's rally. Hold the line for now. Very hard to tell how this could transition on NFTs, we could see rallies in Floors if ETH drops, this would be a decoupling from each other or we see both crypto & NFTs drop in line with each other.

🍦SCOOPS OF THE WEEK

🍦DeGods & y00ts staking goes live.. with a difference

🍦RTFKT EGGS Are Here

🍦BlockFi Heads For Bankruptcy

🍦Chinese Anti-Lockdown NFTs Surface

🍦Fan Tiger Rises To Glory

y00ts staking goes live.. with a difference

The crowds may be calling for Solana to be dead following the FTX scandal but builders continue to build. Yesterday Dust Labs the team behind announced staking for Degods & y00ts NFTs.

The launch of the staking went smoothly followed by a rise in the Floor prices of both projects. Another milestone from the team has also been locked off. All 3 collections, Degods, y00ts & t00bs have done over 1M SOL trading volume each.

By staking y00ts & Degods you will earn either 1 Degods point or 1 y00ts point per minute staked. These points will then be used for physical drops, airdrops & sponsored brand activations. Once staked, y00ts and Degods will remain visible in your wallet, and every point accrued remains attached to the NFT, holders will have the choice to either spend the points or should they choose to sell the NFTs the points go with it to the next holder. An interesting mechanic and depending on what you can exchange the points for, the value of the NFTs could be positively impacted by the number of points held.

Degods staking has also had an upgrade. They are also now called Degods III

Alpha* - FrankDegods mentioned as part of the brand activations and benefits to holders they were looking to sponsor an up-and-coming 'Fighter'. Who that is yet is not confirmed.

RTFKT EGGS Are Here

Just like all great NFT projects, they don't sit still, they are already rolling out their next move just as the last finishes.

It's only been a month since the partnership with Rimowa was launched and now it's time for the Eggs.

Not a lot is known about the Eggs, they were first teased in RTFKT's trailer for Project Animus which again not many details have been shared. This hasn't stopped the community from making predictions, with many suggesting this could be an Otherside collaboration.

What's known is the Eggs will be a free drop for holders of Clones, it's that simple 1 Clone = 1 Egg.

Holders of Clones have until the 30th of November to claim.

If you want to get yourself a guaranteed Egg, RTFKT Clones are currently going for 8.89 ETH.

BlockFi Heads For Bankruptcy

Following the downfall of Celsius, Three Arrows and more notably FTX we knew more disasters for the exchanges and lenders would be inevitible.

It broke out on the 28th of November that BlockFi had filed for bankruptcy. We can't say that we are surprised at the news as when FTX first started to have trouble, BlockFi were the first company to come out publicly stating they are unable to operate business as usual.

With $256.9 of readily available funds, it has been estimated in the bankruptcy findings that their liabilities range from $1bn to $10bn.

Notable creditors include $100m owed to the SEC for failing to properly register its crypto lending product and $275m to FTX who saved the company back in July.

We believe we haven't seen the worst for more exchanges and lenders yet so remain vigilant.

THIS NEWSLETTER WAS BROUGHT TO YOU BY: THE HYHU NETWORK 🎲

Let's Play! The HyHu Network is a Web3 Pay to Play raffle site that allows you the chance to win Blue Chip NFTs for less than the cost of Gas! Sounds Fun & Fair to us!

The HyHu Network is a sustainably funded Pay2Play ecosystem and is pushing boundaries in the NFT space! You can buy $HYHU tokens for just a fraction of an ETH (0.007) save them on your account and enter the Prize draws whenever you like 😎

Pro Tip - You can earn a $HYHU token and use it to enter the Pay2Play raffles for free just by referring The NFT Scoop newsletter to your friends! Check out the referral scheme below!

Chinese Anti-Lockdown NFTs Surface

NFTs based on political stances can always be a tricky road to navigate but when they involve China then that tricky road becomes dangerous.

It's pretty crazy to think that Covid is still being discussed but protests are ongoing in China following more lockdowns. Two projects have emerged as a result of the latest lockdown protests.

The first is Silent Speech, which is a collection of 135 NFTs which capture different images of the protests. There is a 7-day auction currently ongoing which began on the 27th of November. The starting bid for each is 0.01 ETH.

Blank Paper Movement is the other and this consists of 24 images featuring protestors holding blank pieces of paper symbolising free speech. The current price of these NFTs is 10 ETH.

It's not for us to judge how people wish to express their political views, especially through the use of NFTs. We just can't imagine it here in the UK as the latest debacle is current politician, Matt Hancock, eating testicles on I'm a Celebrity.

Fan Tiger Rises To Glory

We were confident that the music industry would integrate NFTs successfully and Fan Tiger has demonstrated how successful it can be.

They aren't well known over the globe but this may soon change. They are the first music NFT platform to operate in India with a platform that allows independent artists to build their fan community as well as fans being able to support artists by purchasing their music NFTs.

Fans are able to purchase partial ownership of songs, share royalty income, access an exclusive community, obtain limited edition signed merchandise, as well as an opportunity to personally interact with the artists.

Their recent rise to glory has been remarkable, Fan Tiger has registered record sales of over 50,000 NFT transactions in the last month, making it to the top 5 NFT projects in the world when compared to the top NFT projects listed and ranked on Opensea.

🏆SCOOP'S WEEKLY WINNER + SCOOP WILD PREDICTION

It's been a while since the Kingpins were in this section but they are back!

On Thanksgiving, the Bored Ape Yacht Club released a teaser for "The Trial of Jimmy The Monkey" and for those that have been paying close attention to the Roadmap you will see this in the top left corner.

Not much is known about what MD v MM contains but as always, when BAYC announces something that gets the community excited, positive traction that follows.

Before the announcement, the floor of the project was sitting at 58.57 ETH and following the announcement this boomed to a high of 75 ETH before retracing slightly to 73.48 ETH.

One announcement raising your floor 15 ETH in a week makes this edition's choice a no-brainer.

SCOOPS WILD PREDICTION

We have seen notable Bored ape purchases on the rise recently and a few weeks ago we said "Do these guys know something we don't"...

Ok so here goes... You can see in the image below Apes riding on horses. What if the next BAYC airdrop is horse avatars? Why would this be the case?

The Otherside Metaverse...

Yuga Labs Horse Airdrops for the Bored Apes to ride through the metaverse? We can see it clearly, whether it happens is another story. Yuga if you listening it's a sick idea.

L0rd oF tHe DeGeNS - ALPHA 👑

By L0rd Marlborough:

Utopia Avatars - Early but promising.

The Utopia Avatars description sounds like something we have already seen too many times in the NFT space: “Metaverse-ready, 3-D art collectible tokens built on the Ethereum blockchain that provides holders with tangible opportunities, experiences in real life and the virtual world.” Yawn..

But what if we told you 'Utopia Voyagers' the mixed reality company behind the collection, has already worked on 280 projects with top brands including META, Disney, Ferrari, and Vodafone? On top of that they have developed official tools for Horizon Worlds, the META metaverse, have won tonnes of accolades & nominations as one of the top agencies worldwide for AR/VR/XR experiences, and have even started 2 masters courses with the University of Madrid, a public university consistently ranked as one of the best institutions in Spain?

You would say pretty bullish right?

Utopia is a “pure web3 company” based in LA and Madrid, that focuses on various metaverse-related initiatives, including the Utopia Avatars NFT project, an open metaverse for brands and businesses, and the academy project. The project has received investments from Eva Longoria and is advised by Faze Banks, they have also announced that it will create a metaverse for award-winning author Deepak Chopra.

This has all of the elements of a hidden gem type of project, and it will definitely make a lot of noise in the space as it releases more information on its NFT, especially considering the growing trend of AR/VR/XR companies getting into NFTs.

Finally your favorite question “Wen whitelist?”

Here's some alpha: visit their Discord (you can find it on their Twitter profile) and check out the announcements channel. They are using ShuttleBay, a software that tracks your social media interactions with their account, to assign WLs. Be fast, likes, retweets, and comments on posts after a certain period of time aren’t valid anymore!

Utopia Avatars Twitter

THE REKT SECTION 😡

We almost made a full newsletter without a specific FTX story however what has just been released is straight out of the Wolf of Wallstreet playbook.

To be a bit more specific with the Wolf of Wallstreet, it's like that scene where Jordan finds out the pink sheets have a 50% commission.

It turns out that FTX owned an $11.5m stake in a rural bank that operates in a town of 146 people, stopped offering mortgages in 2010, and doesn't offer credit cards, online banking or even a website.

So whilst creditors are worrying about being paid, we are seeing dubious investments like these pop-up. FTX's share in this bank was $11.5m for only 10% meaning a $115m valuation when in fact the bank only had a total deposit value of $10m.

Bankruptcy proceedings are still ongoing and we want to reiterate to our community to ensure they are taking all steps to ensure their investments are in a safe exchange / wallet.

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.