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NFT

• NFT total market cap - $21.98 Billion dollars (41x smaller than the Crypto Market).

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

Crypto

• Crypto total market cap - $897 Billion (41x larger than the NFT market).

• Jumped up from $880 billion 2 weeks ago

• FTX still still a hot topic though price action has now stabilised with Major cryptos

• Trends Narratives to watch - It's Arbitrum season! Arbitrum is a layer 2 scaling solution for Ethereum.

• A number of tokens on that chain are popping off right now. We recommend exploring the Arbitrum ecosystem.

🍦SCOOPS OF THE WEEK

🍦Ledger Hardware Wallet Introduced

🍦Magic Eden hires a new Chief Gaming officer

🍦Celsius Update

🍦Starbucks Opens its Blockchain Loyalty Programme to 1st BETA Testers

🍦Metagood raises $5m in Pre-Seed Round

Slick Ledger Hardware Wallet Introduced

Given the recent FTX saga, we imagine Ledger's sales have rocketed higher than Turkey's at Christmas.

Well, demand is about to get crazier for Ledger. Remember the iPod?

Their upcoming product, Ledger Stax, was created alongside the designer of the iPod, Tony Fadell and will display the user's NFT artwork of choice even when on standby.

Ledger Stax will be the most user-friendly product the company has brought out to date. It will allow users to manage their NFT collection and over 500 coins via a touch interface.

Each product comes with an Infinity Pass which provides purchasers with a free NFT. The Ledger Stax NFT is available to mint on Ledger Marketplace which will in turn unlock access to exclusive NFTs from a variety of selected artists.

Now for the important bit, when can we get our hands on one?

The company plans to release the product in Q1 of 2023 however, it is available to pre-order now from their website.

NFT Joke made today by AI

"Why was the NFT feeling Depressed?

Because it realized that it wasn't as valuable as the crypto it was built on."

Robots clearly haven't won the comedy race yet..

Magic Eden Hire Chief gaming officer

Once the penny drops for the gaming community worldwide, on chain-In game assets will explode. It looks like it's not just us who feel this way.. Magic Eden does too.

Magic Eden hires Chris Akhavan (we love that he is rocking a y00t PFP) who comes from Forte, a blockchain-based gaming firm that raised just shy of a billion dollars last year and was later acquired by Electronic Arts.

The Solana ecosystem is big in the web3 gaming arena given its fast & cheap transactions. In the coming months, with the support of Chris, we can expect Magic Eden to make serious developments & innovations that support an ecosystem of gamers including partnerships, game development & collector experiences.

LFG!

Celsius Update

They were in the news, they were REKT and here they are back in the news...to be fair we did say we'd keep you updated.

For our new subscribers who aren't aware, we will keep the recap quick:

It was way back in June of this year that the Cryptocurrency lending firm announced that they will pause withdrawals and transfers due to extreme market conditions. This turned into a bankruptcy filing due to the company having an estimated debt of $4.7bn owed to more than 100,000 creditors.

A website was launched detailing how much each individual has lost with the now-bankrupt company. The website showed some of the top individual losses equate to over $40m.

Right...what's the latest?

A federal judge has ordered them to return Crypto worth a total of $44m to their customers.

A drop in the ocean compared to their debts but there is a reason why this is the case. This order from the judge only relates to custody assets as opposed to earn accounts. The earn accounts enabled those who deposit crypto to earn interest and this is where the vast majority of the debt is locked.

Celcius holds the position that users who deposited funds within the earn accounts gave up ownership when agreeing to the company's T&Cs.

The case is continuing, but this is the first time there has been some debt finally being repaid.

In terms of their in-house issues, they remain ongoing. Since the bankruptcy proceedings started only 170 staff of the original 370 remain. The company has launched a $2.8m bonus fund to stop staff being poached.

Remember guys and girls...always read those T&Cs.

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Starbucks Opens its Blockchain Loyalty Programme to 1st BETA Testers

It's not just the toasted white chocolate mocha or the chestnut praline latte that Starbucks is rolling out this December...the 1st invitations have been sent out to a group of U.S. beta testers for their loyalty programme Odyssey.

The highlights of the programme are as follows:

• It will will primarily launch in the U.S

• Odyssey members will be able to take part in games and challenges

• Starbucks rewards members can log in using their current loyalty program credentials

• Collectible NFT rewards can be obtained from completing challenges

• The more NFTS collected by a user, the more points they gain

• Points unlock experiences such as exclusive events e.g. trips to Starbucks farms in Costa Rica

• The Starbucks NFT Marketplace allows users to buy, sell and generally trade their collectable NFTs

• Proceeds from collectable NFTs will go towards the Starbucks partner program

• No Crypto or Crypto Wallet will be required

We have noticed in the small print that Starbucks are naming their NFTs as 'Journey Stamps' which we are fans of as we have all witnessed the successful impact of not using jargon with Reddit.

Starbucks has decided to use the Polygon chain for its program taking the same approach as Meta. We recently shared how the native token of Polygon, $matic, rocketed up 29% from news surrounding major brands adopting their chain.

Starbucks has been a champion in running the most successful loyalty program in brand history. As they leap into the world of Web3, Starbucks is showing us how to provide even better customer incentives through ownership and extend benefits beyond the ways of brick & mortar to activate communities in far more innovative & engaging ways.

Metagood raises $5m in Pre-Seed Round

Metagood, which is a social impact NFT project has raised £5m in their pre-seed round.

The objective of the project is to adopt the concept of using NFTs for good.

This works by users doing good things for each other and the good deeds are tokenized and exchangeable.

Their flagship collection, OnChainMonkey, created tokenized value for community members by aiming to give members the chance to promote and fund 'social good' projects through its DAO which raised 2000 ETH in a year.

The list of investors is well known within the space such as the likes of Animoca Brands, Dapper Labs Co-Founder Roham Gharegozlou, Axie Infinity Co-founder Jeffrey Zirlin and Sandbox Co-founder Sebastien Borget. Celebrities have also previously pitched in including Owen Wilson.

🏆SCOOP'S WEEKLY WINNER

Destined for greatness... We think so! The legend of cockpunch minted this week, and greatness was certainly achieved.

It's no surprise that this project was heading for a successful launch given the brain behind it is Tim Ferris...that being said, nothing is guaranteed.

The mint was on the higher end of the scale at 0.3 ETH but to nobody's surprise they sold out...they could have received winner status for this alone.

The good stats don't stop there. Those that were looking for a quick flip were successful in flogging their unrevealed item for 4 ETH with plenty selling in the 3 ETH region.

As always, there is now a bit of paper handing going on which has brought the floor back to 1ETH.

We expect this to retrace again a little further following the reveal but as always, the reveal will likely give you a solid entry point if you believe in the legend of cockpunch.

With 3488 ETH volume so far, this is a well-deserved winner.

Congratulations to The Legend of Cockpunch

ALPHA 👑

Tired of Web3 games which just don’t cut the mustard?

Us too..

This is a 'Game' changer.

Welcome to the World Of Tribe and its subsidiary LostRealmsXYZ! This turn-based game could be the best to launch on ETH yet, and it's sure to provide get those gaming juices flowing.

LostRealms XYZ is an interoperable MMORPG that takes inspiration from Iconic NFT collections like Ether Orcs, Azuki, and RTFKT. They focus on storytelling and engaging gameplay. We feel it could have all the ingredients for success. At its core, Lost Realms is a player-owned economy that drives value back to the holders.

Holders are central to all aspects of the game, including the token allocation. Tokens will only be rewarded to those who actually play the game, which ensures that the community stays engaged & the game activity remains hot. The game itself features top-notch pixel art (Web3 loves Pixels..We don’t make the rules) and a wide variety of NFTs, including collaborations like KaijuKingz, DeGodsNFT, NeoTokyoCode, and CyberKongz.

Don't just take our word for it – the team behind Lost Realms is where the magic happens. It's stacked with grade-A teammates, with backgrounds at Fortune 500 companies like Microsoft and EA, as well as VC experience.

Unlike other VC-funded projects, Lost Realms has strictly ruled out VCs gaining access to their tokens, ensuring that all power remains with NFT holders and the ecosystem, it therefore shouldn't see VC unlock mega dump.

With a total supply of 6742 and a launch date and mint price to be announced, now is the time to get in on the ground floor of this grade A web3 game.

To learn more.

Visit the website at https://lostrealms.xyz

Join Discord at https://discord.gg/lostrealms

THE REKT SECTION 😡

Unfortunately having a bug on the bidding system causing a client to lose 70 ETH is never a good look.

Blur...welcome to REKT.

Famous trader, Keungz, took to Twitter to share his story of how 70 ETH was lost in the new bidding system. When a user wishes to bid 0.1 ETH for an item but forgets the dot and instead it reads as ".1" the system will treat this as a 1 ETH bid.

This bug caused Keungz to accidentally bid 70 ETH on Art Gobbler 8273 which has a floor price of 3.77 ETH.

Blur quickly responded stating their policy is to refund users for platform errors and not user errors, but in this case, they will offer a 50% refund. That being said, Keungz has still lost 35 ETH.

The company are however trying to rectify the situation by offering 50% refunds for traders who had bids accepted over 25% of the floor price.

Nevertheless, the fact this has happened to numerous people and hundreds of ETH has been lost, it has to be REKT.

🤡 WHOEVER CONTROLS THE MEME CONTROLS THE UNIVERSE

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.