Stock / crypto market - The Federal Reserve (FED) has halted interest rate hikes after 15 months of increases. This decision caused a negative market reaction as the new DOT Plot indicated potential future rate hikes, contrary to market expectations. The DOT Plot shows a shift towards higher rates, with a median projection exceeding 5.5% by year-end. Consequently, Bitcoin experienced a 5% crash, while the dollar index and bond yields increased. Traditional markets, such as the S&P 500, remained relatively stable following the FOMC meeting. Binance, a cryptocurrency exchange, is facing allegations of selling Bitcoins and buying their own token, BNB, in an examination of the situation. The timing of these actions is being questioned, with suspicions that they were intended to prevent a market crash. Additionally, the "Hinman Documents" related to the SEC versus Ripple case are being discussed. These documents highlight Ethereum's classification as not being a security and the SEC's contact with Vitalik Buterin for clarity on Ethereum's decentralization
Newsletter #39
A digital art collection previously owned by Three Arrows Capital, a collapsed cryptocurrency hedge fund, has been sold at Sotheby's in New York for nearly $11 million, setting a new record for NFT sales. The collection consisted of 37 artworks available for purchase with crypto. One notable piece, Dmitri Cherniak's "Ringers #879," also known as "The Goose," was sold for $6.2 million to enthusiast @punk6529, becoming the second-most valuable work of generative art ever sold, trailing only another artwork by Cherniak. Additionally, some NFTs from Three Arrows were sold privately, bringing the total raised by Sotheby's for the collection to almost $17 million, including fees. The live auction attracted nearly 1,000 bids from participants in 17 countries
The Art Blocks index has experienced a 20% increase in value over the last month, primarily due to the success of the inaugural Sotheby's Grails auction
Only a few collections have seen an increase in the floor price in the last 7 days, as well as in the last 30 days. Autoglyphs and Fidenza are leading the ranking
Kanpai Pandas has welcomed Jeff Willard to its advisory board. With a track record of managing over 45 consumer brands, including notable names like JBL, Harman Kardon, Coleman, Beautyrest, and Lexmark. He currently holds positions overseeing a $100 million marketing budget and a $200 million e-commerce business at Casper Sleep. Willard also boasts a background in the entertainment industry, having collaborated with renowned figures such as Sir Paul McCartney, Jennifer Lopez, Tom Brady, and Quincy Jones. Notably, he has successfully launched numerous products, resulting in over $1 billion in annual sales. The addition of Willard to the Kanpai Pandas advisory board significantly enhances the board's collective brand expertise
Store Nº8 (Walmart’s innovation hub) and Outlier Ventures have joined forces to launch the dCommerce Base Camp accelerator program. This program is designed to assist web3 startups that are dedicated to improving global retail and commerce experiences. The application process for the 12-week program began on June 6, and the accelerator itself will start in mid-August. The program's main areas of focus include decentralized infrastructure, data and growth solutions, immersive experiences and the metaverse, as well as the intersection of AI and blockchain. The collaboration between Store Nº8 and Outlier Ventures is aimed at leveraging web3 technology to revolutionize the global retail and commerce industry. The involvement of a major retailer like Walmart in web3 technology is considered a positive development in the current business landscape
Limit Break unveiled the « Payment Processor ». It plays a crucial role in marketplaces by verifying, validating, and executing NFT trades to ensure fair transactions. It supports trading of ERC721 and ERC1155 tokens, including ERC721-C and programmable royalties. It offers different trade options such as Single Listing, Bundled Listing, and Collection Sweep to accommodate various trading styles. Creators have control over security settings, including exchange and payment method whitelists, as well as pricing constraints. In benchmarking against Seaport and Blur exchange protocols, the Payment Processor outperformed in all categories except for "flexibility of trade execution logic and order complexity
Blur recently unlocked almost 196 million BLUR tokens on 14th of June, representing around 6.5% of the total token supply. This caused a significant increase in the circulating supply, boosting it by 40%. The sizable token unlock could have a notable impact on the market. However, the price has increased since then, but this was due to the price movement of Bitcoin
Polygon has unveiled its vision for a groundbreaking initiative called the Value Layer, aimed at revolutionizing the internet. The proposed Polygon 2.0 serves as a blueprint for constructing this Value Layer and encompasses several crucial upgrades to the protocol architecture, tokenomics, and governance. Polygon 2.0 will implement a network of ZK-powered Layer 2 chains interconnected through a unique cross-chain coordination protocol. More detailed information about the components of Polygon 2.0 is expected to be shared in the upcoming weeks
Blue Chip owners have been showing a lot of interest in Creepz by Overlord_xyz in recent days. Days earlier, Overlord won the "Digital Startup of the year" award
In the middle of the week, the floor price of Kitaro has risen sharply
Kitaro announced: Partnership with "TRIBE", a community engagement platform, Individual activation recruiting process (Kasting Call), Expanding the ecosystem (Ordinals)
Notably, there are many new holders in the ecosystem of the Killabears
KILLABEARS released its KILLACUBS Builder this week, offering holders the opportunity to create custom KILLACUBS
Chimpers and CyberKongz are back in the Top 25 in terms of global reach on Twitter
In a collaboration, AliExpress and Moment3! are releasing 5,555 NFTs. These digital collectibles will be available on the AliExpress platform
Employment at ApeCoin DAO proves to be extremely lucrative. Even moderators earn a monthly salary of $8,000
Otherside provided a StarMap update and gameplay details
Snoop Dogg announced the Snoop Dogg Passport Series, an evolving digital tour NFT
Pudgy Media introduced the MVP Soulbound Token to acknowledge exceptional community members
Puma has introduced its 3D metaverse platform called Black Station, which serves as an immersive venue for product launches and promises "unrestricted access" for holders of Puma Pass NFTs
Mocaverse, the PFP of Animoca Brands, collaborated with Rarible to launch a custom marketplace for the Mocaverse community
PROOF has announced that Foundry will be opening an IRL (In Real Life) space in the Arts District in Downtown LA this summer
The latest sneaker collaboration between FEWOCiOUS and Adidas Originals is featured in a Google Pixel advertisement
Spirit Azuki #3946 was sold for 189.69 ETH ($317,012.77). The sale was 1,063% above the current floor price of Azukis
- Metagood and OnChainMonkey collaborated to launch OCM Dimensions, utilizing Bitcoin Ordinals. This collection, which pioneered recursion, composability, and efficient block space usage on the Bitcoin network, achieved notable industry milestones
- Notably, it introduced an on-chain reveal feature after the minting process. The artwork in OCM Dimensions is characterized by its high-definition, 3D, animated, and interactive nature, deriving directly from Bitcoin inscriptions
- Metagood and the team behind OnChainMonkey possess extensive knowledge of Bitcoin technology and its potential applications for Ordinals and NFTs
- The 300-piece OCM Dimensions collection sold out within minutes, with the first secondary sale already surpassing 1 BTC, equivalent to over $26,000
- Briefly, the project was at 2 ETH floor price, which is an important resistance at the moment
For those that Ordinals are still new to and for those who want to read into it
- The popular game "Only Up" on Twitch, filled with Goblintown art, has captured the attention of streamers and viewers alike
- The game, centered around climbing skill, has attracted over 100,000 viewers simultaneously, all eagerly looking to discover the Goblintown references
This was also reflected in the volume. Over 680% more volume than the week before was
achieved. The floor has risen to 0.40 ETH
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