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🍦SCOOPS OF THE WEEK

🍦DeGods, y00ts and Dust Labs Announce Christmas Move

🍦Enix Invests into Gumi

🍦HSBC Trademark

DeGods, y00ts and Dust Labs Announce Christmas Move

Whilst we were all feasting on our Turkeys on Christmas day, DeGods, y00ts and Dust Labs had their eyes on something that filled their future instead of their bellies. 

It's easier if we deal with each of them in turn, so in no particular order step up DeGods.

DeGods has announced that the project will be bridging to Ethereum in Q1 of 2023. The details have not been released but fear not, the project has confirmed that they will be released when it's ready and tested. 

The Season III Roadmap will be coming in January so it is certainly one to keep your eyes on.

Up next we have y00ts who are the sister project to DeGods.

They have announced that they will be bridging to the Polygon Network in Q1 of 2023. Again, the details will be released when it's tried and tested as a move of this size has never been done before.

It has been confirmed that Frank & the team received a multi million dollar grant from Polygon to bridge over. It's clear some of the community are unhappy about this, viewing it as a sell out move, though Frank stated that Polygon's offer was by far the lowest they received out of all the chains. Frank has compared the move in chains to how the likes of Disney+, Amazon Prime & Netflix competes for the best IP (Content), and whoever can attract the best content wins as the best entertainment platform. He went on to say that blockchain's appetites for hosting NFT ecosystems are moving in similar ways, the landscape is growing more competitive and they are now willing to pay/fund projects to build on specific chains. He went on to state that Polygon felt right for y00ts given that Disney, Instagram & Reddit have selected it as the chain of choice. He clearly has big plans for the project. 

What is positive & bullish for the project is that the team now have fuel & resource to build into the future. We have made our thoughts clear on Polygon as a chain, it's one that is being used for mass adoption of NFTs and real world use cases beyond just 'Profile Pictures'. Given that y00ts are lining up a number of global brand partners this move makes sense.

A formal roadmap will be coming for y00ts Season 2 in January. 

And lastly, Dust Labs, who are the parent company of both DeGods and y00ts sit under.

They will be bridging into ETH & Matic to be multi-chain.

Again, no real details have been released for this move or details of when it will happen.

Since their chain of positive announcements, sales volumes for DeGods & y00ts have rocketed hard.

In September, we did an extensive piece on DeGods and the Dust Labs group. Our feelings have not changed much, and let us remind you... momentum is building for the DeGods Ecosystem. Frank De Gods has displayed quality leadership throughout and has so far built a strong reputable web3 brand & community. 

Frank has always been bold in his style & likes to do things differently. Switching chains is no small undertaking, so a message from Frank below as a reminder of the risks involved. 

Since the launch of y00ts we have expressed that the Degods & Dust Labs ecosystem has been a solid project to get involved in should you have the appetite. The NFT space needs projects who aren't afraid to go against the grain, disrupt & innovate. 

Why cant Degods & y00ts be ignored? 

• Proven innovators

• Building Web3 products used by other projects

• Generating revenue outside of Royalties

• Large active community

• Building transparently

• Community lead Sub DAO's (Clubs) with strong brand equity being created.

• Doxxed leadership

• High quality captivating artwork (that make great Profile Picture)

• Strong Meme game (Don't underestimate the power of Memes)

• Now moving to the most active chain

It's very difficult to find another project doing all of the above and now with the chain migration underway we expect to see a wider base of collectors gain exposure to this ecosystem.

This is a second reminder to keep a close eye on this project. 

Enix Invests into Gumi

It is not a ground-breaking discovery to find that gaming in the Metaverse will play a huge part in the general shift towards it. 

The adoption of NFTs within the future of gaming will also go hand-in-hand. 

Pro-NFT gaming company Enix has invested 7 Billion Yen ($52.7m) into gaming developer Gumi to establish "high-quality" mobile games, blockchain games and a Metaverse initiative.

The partnership could go a long way with some of the ambitious plans revealed to include building an NFT marketplace alongside the development of blockchain games. 

They want to provide a one-stop service for the development and distribution of blockchain games to the sale and distribution of tokens and NFTs.

Gumi has certainly welcomed this investment by confirming they are working day and night to develop their Metaverse-focused arm of the business. 

This is a really exciting prospect and it won't be long before we see partnerships of this nature pop up across the rest of the world.

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HSBC Trademark

The threat of regulations ties very conveniently for the large banks who now want a piece of the decentralised pie. 

The latest to board the train, destination Eutopia, which many of us have been on board for a long time is HSBC.

The global bank has filed Trademarks to include:

1. Digital media backed by NFTs

2. Virtual Currency Exchange & Transfer

3. Virtual Credit Card Processing.

The application was filed on the 15th of December and it will certainly not be the last of the banks to get involved in the future of the space.

Investment Giant Fidelity Step into the Metaverse 

Investment firm Fidelity who boast 40 million investors & $9.9 Trillion assets under management are launching into the Metaverse with plans to build out an NFT Marketplace and financial investing & crypto trading services inside the Metaverse. What crypto / trading services inside the Metaverse would actually entail we don't quite know yet, and given the services are already carried out online, it doesn't seem like they would be overly different to how we experience them today. 

However if one of the most trusted investment firms on the planet (Fidelity) opens up an NFT marketplace that offers more traditional & conservative investor an easy way to buy NFTs it is certainly bullish for long term price action & adoption of NFT assets. 

🏆SCOOP'S WEEKLY WINNER 

Even though the market has been bear, this winner has gone to show that DYOR and having conviction in your plays can lead you to where you need to be. 

What this investor did was start off with 0.3 ETH one year ago with the aim of securing a Bored Ape. 

After successfully doing the challenge, the user has shared the journey and we advise everyone to have a read as it provides vital life lessons along the way.

Congratulations Turbo1Degen - you are this week's winner. 

Check out how he turned 0.3 ETH into a BAYC here.

THE REKT SECTION 😡

We couldn't believe this person hadn't been REKT yet but the latest revelation has left us no other choice.

We covered the update in our last newsletter where she was offered a plea agreement which consisted of $250,000 bail, surrender of travel documents and forfeiture of assets in exchange for waiving all charges except tax violations so long as she fully co-operates.

The latest development for her cementing her place in this section is that Caroline Ellison has admitted to using FTX customer deposits to repay loans on risky investments.

At a time when thousands of investors have no access to their funds, Caroline was busy squirming the money away on repaying bad investments.

She has previously gone on record saying she doesn't believe in stop losses. It now makes sense why she had this position, she was just going to be using investors' deposits to cover the loans taken to cover losses.

We await more damaging admissions from the whole debacle but for now,...Caroline Ellison You've Been 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.