🐻 Bear with us

Drama Filled Week: TERRA, Azuki, Bankless, Robinhood 🫖

Dear NFTimer,

You alright mate? Survived the week? Good for you. Thankfully I had a friend staying over, so I didn’t have time to dwell and stress out too much. Sending all positive vibes to LUNA holders tho… There is also some drama around Azuki founder Zagabond. Creators of Azuki, Chiru Labs revealed involvement in multiple NFT ‘rugpulls’ (in some people’s definition) with a blog post titled “A Builder’s Journey.”

While we’re here, the most recent meme is around “if you don’t have a 100k pfp…” If you don’t know where that started, check out the tweet @yieldasaurus shared.

Dive in👇

🎨 NFTs

• Madonna and Beeple collaborated in their recent 3D model/video collection.

• Akamai Technologies launched an NFT which displays humanity’s internet usage (in real-time, dynamically fueled by internet data) as an art piece.

• HyperLoot introduced the decentralized card game, HyperLoot Cards.

• Doodles conducted a free dooplicator airdrop. 

• Chain Runners XR launches next week.

• Forgotten Rune Warriors minted.

• ROBNESS’s PFP project Desktop Statue Systems minted out.

• Petaverse is a new project where they mint a custom 3d avatar of your pet so you can immortalize your pet in a virtual setting! Cute.

• The hot air balloon festival in New Jersey is launching its own NFT collection of cartoon balloons. Holding the NFT will provide free rides and merchandise to holders.

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🔮 Metaverse News

• Voxels did a snapshot of parcel and costume owners for the platform’s upcoming airdrop of $FOLK.

• While cryptocurrencies are on the decline, metaverse tokens are doing alright with Decentraland, Gala and STEPN up 35%.

• SER THAT’S FORTNITE WITH AN APE. jk, Otherside looks pretty dope actually. Can someone make my WoWG into a 3D avatar pls?

OthersideMeta @OthersideMeta

And here’s a sneak peak of the First Trip, the tech demo from @Improbableio. Can’t wait to share the experience with you.

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🎵 Music

• The Chainsmokers are sharing royalties on their entire new album in an industry-first. The duo’s new album drop includes an NFT giveaway that gives 5000 fans a 1% cut from the royalties.

• Mint Songs is launching Splits protocol, which allows artists to share their earnings automatically with their collaborators.

• DJ BLOND:ISH is building world’s first ‘impact to earn’ token with Bye Bye Plastic. Built on the carbon negative blockchain Celo, $BYEBYE social token can only be earned and will launch on Socialstack. $BYEBYE will create incentives for people to learn about and act on the climate crisis.

• Spotify is entering Web3 with NFT integration and musician NFT galleries.

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👾 NFT Games

• Roblox is exploring the idea of wrapping digital items into NFTs.

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⚽️ Sports

• Football club Manchester City launched a digital collection with Puma on MakersPlace. The art features a new design of PUMA's Ultra Football Boots.

• Creator of an NFT fantasy soccer game Sorare will launch a Major League Baseball fantasy game over summer.

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🔥 What else is hot?

• Bankless got kicked out off YouTube but they got a heartfelt apology from the CEO of YouTube Susan Wojcicki over Twitter.

• Known for his role on Gossip Girl, Hawaiian actor, designer and skateboarder Evan Mock is launching $MAHCOIN, his own social token.

• Treasury Secretary Yellen said while she is concerned about stablecoins, crypto didn’t pose a systemic risk.

• YouTuber KSI lost $2.8M in one day with LUNA.

• CEO of crypto exchange FTX, Sam Bankman-Fried, bought a 7.6% stake in stock and crypto trading app Robinhood, increasing the value of the Robinhood stock by ~25%. Bankman-Fried said the purchase is solely because he thinks its a good investment, and he has no intention of changing the direction of the company.

  Robinhood Comms @RobinhoodComms

  Of course we think it is an attractive investment too. We have the best customer base, are introducing great new products, and we have the team to deliver.

• Gem added a new analytics suite for NFT sweeping stats called Sweeps Data.

• Genie launched UpShot NFT appraisals.

• Binance CEO said they never sold their 15.4M LUNA — now worth only $2461.

• Germany is coming in hot with one of the most crypto friendly laws ever! Cryptocurrencies can be sold tax free after one year of possession, even if they have been used for staking!

📖 Reading List

• “Social Tokens: The Economy of You” by the Generalist

• “Unbundling venture capital via DAOs” by pet3rpan

• “To Start Building a Community, Master These Two Concepts” by a16z

• “Tokengated Commerce” by notboring

• “Surviving Crypto Cycles” by Paradigm

🧵 Threads

Do Kwon 🌕 @stablekwon

1/ Dear Terra Community:

ZAGABOND.ETH @ZAGABOND

I fucked up. After the spaces today, I realized my shortcomings in how I handled the prior projects which I started. To the communities I walked away from, to Azuki holders, and to those who believed in me — I’m truly sorry. 1/x

ZachXBT @zachxbt

Remember this?

Chopper @chopper__dad

There was NO handoff when the Phunk devs left Tendies rugged mid reveal Zunks larped as women and were dishonest about the connection to Phunks (blocking us for asking questions) If you don't think @ZAGABOND is a scam artist, you either hold Azuki or you're a scammer yourself.

Raoul Pal @RaoulGMI

Macro Views: As Ive talked a lot about, I think we are going into a pretty nasty recession (or are in one). Lay offs are coming as are house price falls. Demand destruction is everywhere due to the largest monetary tightening in history. 1/

Ξwocki (🤖,💚) @owocki

“Decentralized Society” (DeSoc) ⚡️

gaut @0xgaut

it’s simple, really world loves crypto: SELL world hates crypto: HODL world forgot about crypto: BUY

richerd.eth (マ,マ) @richerd

We can't ALL be the CEO of being unemployed right? *incorporates 'being unemployed' as a company* guess you all work for me now 🙂🙃🤣😏😜😎🫡

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Disclaimer: Investing in NFTs comes with inherent risk including technical risk, human error, platform failure and more. This newsletter is strictly educational and nothing we offer is financial advice. We are not professionals or licensed advisors. Views my own and not any other company I’m affiliated with.