ELON IN THE HEADLINES OVER $DOGE 🐕+NFT NYC SPECIAL
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The information contained in this NFT Scoop newsletter or podcast is not financial advice, it is provided for educational, informational, and entertainment purposes only.
The information contained in or provided from or through this website and podcast is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice.
NFT’s can be highly illiquid markets, causing sharp drops in prices due to changes in narratives and trends.
Weekly Market Update 📈
As the above charts show, it has been a difficult week for the NFT space. Turbulence is omnipresent as Ethereum’s drop sent shockwaves through the space. With Ethereum starting to trade a little more sideways as opposed to continuing down, we are hoping for some stability to be forthcoming. Following the heavy increase in the % of projects with increased floors, unfortunately, the % of projects with increased volume fell sharply so we are not quite at the end just yet. However, as previously advised, a cycle of this nature was required.
Scoops of the Week 🍦
Elon Musk and two of his companies, Tesla and SpaceX, are facing a $258 billion lawsuit.
Keith Johnson, who filed the lawsuit, is seeking class-action status for the suit and aims to represent other allegedly harmed investors. The lawsuit alleges that Musk was part of a racketeering scheme to back the cryptocurrency.
As this is an ongoing legal issue we are unable to comment any further but we attach a link to the Bloomberg article which broke the story.
Bill Gates NFT and Crypto Attack
Previously the wealthiest person on the planet whose $123 billion fortune began from developing software in the technology sector.
On Tuesday, Gates was at a TechCrunch discussing climate change when the topic turned to NFT’s and Cryptocurrency. Some of the quotes made by Gates were as follows:
“You have an asset class that is 100% based on greater fool theory,”
“Expensive digital images of monkeys would improve the world immensely,” referring to the much-hyped Bored Ape Yacht Club NFT collection.
“I’m used to asset classes ... like a farm where they have output, or like a company where they make products,”
“At its heart, it has this sort of anonymity, that you know, you avoid taxation or any sort of government rules”
Taking each in turn, pandering to the idea that overvalued assets will go up in price when there are enough investors willing to pay more for them is a lazy assessment of NFT’s as you can apply the greater fool-proof theory to virtually anything digital or physical.
His cheap dig of the Bored Ape Yacht Club collection proves worthless. He is in essence covering every NFT under one blanket. We have explored the variety of utilities that NFT offers with many large companies starting to incorporate NFT’s into the real world. Further, whilst the PFP bull run was occurring, this allowed many investors the opportunity to build liquidity and earn life-changing finances in a decentralized exchange.
“I’m used to asset classes... like a farm where they have output, or like a company where they make products,”. Again Gates here is placing a large blanket over the NFT Space. With a tiny bit of research, even minuscule, Gates would be able to establish that there are plenty of NFT’s out there that offer utility in abundance and long-term value.
“At its heart, it has this sort of anonymity, that you know, you avoid taxation or any sort of government rules”. The final cheap, recycled dig. The assumption that the core of the Web 3 space is to facilitate illegal activity could not be further from the truth. A real draw to the Web 3 space has nothing to do with taxes, it is the freedom of exploring a decentralized exchange where investors appreciate the risks involved but are in essence self-governed.
On Tuesday afternoon, the team behind Goblin Town released a 4-minute video doxxing themselves to the world.
Describing themselves as “a little team of folks who had an idea that grew wildly and wonderfully out of our control” the announcement also confirmed that they do not intend to produce a roadmap or create a discord.
The team did however confirm that we can expect some merchandise and sauce in the near future.
The doxxed members of the team are as follows:
Cesar Kuriyama, No Electric Sheep, Entropyeq, Seinahpets, Allseeeth, Needelman, AJT, 0xFREEGAS, Nullsignal, Process_grey, and Only Scott Ever.
Manhattan Landlord left Red-Faced
Chris Okada who is the CEO of Okada & Co which is a commercial real estate company that owns 43 buildings in Manhattan is now venturing into Web3 to diversify clientele.
The property for sale is an office building in New York City and recently went on sale for $29m on Opensea. Unfortunately for Okada, the property was listed prior to Ethereum taking a 40% price drop, therefore, taking the price of the property down with it, this is due to the price of the property being set in Ethereum despite the $29m asking price.
However, those looking to capitalize on a $13m dollar drop will unfortunately not be able to do so as Okada has confirmed that the price is to be adjusted to reflect a $29m purchase price regardless of the Ethereum price.
Whilst we have seen quite a few residential purchases involving NFT’s, this will be the first commercial space sold as an NFT.
Mastercard Purchasing Announcement
Mastercard has announced that plans are in place to facilitate direct NFT purchases for its 2.9 billion cardholders. Those wishing to will be able to directly obtain NFTs without the need for converting to a cryptocurrency first.
This is an exciting move for those able to utilize this feature due to the associated fees of going through exchanges being removed as well as the long wait times of going cross-exchange.
However, what is not known are the finer details such as potential transaction fees, tax implications, and spending limits. We await further developments however the feature does pose to be an exciting proposition.
NFT NYC UPCOMING ♥
Introduction
From the 20th of June to the 23rd of June 2022, the 4th Annual NFT Industry Event will be taking place in New York.
Coinbase’s description of the event as the Superbowl of NFT’s is hard to argue with as over 1500 speakers have been announced, plenty of events scheduled from afterparties to gallery showings as well as an awards night.
This is not an event to be missed if the opportunity to be there presents itself.
Key and Interesting NFT NYC Events
DIG Event with Gotham Magazine, Miami NFT & SLG.
Details:
-The event takes place on the 19th of June from 8 pm to 1 am.
-Select brands can connect with cutting-edge and influential individuals in transformative ways.
-The evening will not only provide a powerful platform to reach a demographic of high-yield clients, thought leaders, and key media, but it also provides the opportunity to collaborate with a company disrupting the NFT space.
-This event will interconnect Web 3 brands and guests with a specially curated audience of the international jet-set clientele, investors, and NYC society players at the city’s most sought-after venue.
Cryptoon Goonz x Urban Outfitters
Details:
The event takes place on the 20th of June from 12 pm to 5 pm.
-Shop the Exclusive Collection.
-Enter to Win an Exclusive Cryptoon Goonz NFT.
-Conversation with Founders of Cryptoon Goonz + Special Guests @ 1:30 PM.
-Live Minting + Live Screenprinting.
-Open to the Public.
Details:
Lazy Lions Main Event - 20th of June at 9 pm
-Event Exclusive to Lions, Cubs, and Bungalows holders.
Puma Flagship Pop-Up - 21st of June.
-Get Your Lazy Lion or Cub Printed on a Puma T-Shirt From 11 am to 7 pm.
-Ash and Nine Will Be Present at 1 pm.
VIP Dinner - 23rd of June.
-Invite Only
Details:
One of the most anticipated events of NFT NYC! Certainly, one to keep your eyes on. Keep up to date on Twitter.
-Events take place from the 20th of June until the 24th of June at Pier 17 NYC.
-5pm-10pm Everyday.
-BAYC, MAYC, & guests only.
-Music, merch, art, open bar, free food before, during & after.
-New performers each night.
-$Ape will be a supported currency at the event.
PsychHouse by Psychedelics Anonymous
Details:
-The event takes place from June 21st until the 24th.
-Celebration of the conclusion of Phase 1 and attendees will get an exclusive sneak peek at what's in store for Season 2 with a week of immersive experiences, talks by Web3 visionaries, nightly DJs, and limited edition merch.
-Genesis holders will have exclusive, always-on access to VIP Spaces & Events throughout the week. Delve deeper into the world of PA, get complimentary breakfast & coffee every morning, and get an escape from the hustle & bustle of the city streets on our rooftop patio.
-Hours
Open Daily
June 21 — 23 : 9 AM — 7 PM
June 24: 9 AM — 9 PM
Genesis Holders' Breakfast
Daily: 9 AM — 12 PM
Nightly Happy Hour: Open Bar (21+)
Holder & Public : 4pm — 7pm
Crypto VC Gala and Investment Dinner
Details:
-Event takes place on June 21st from 6-9pm
-Venue is the Mykonos Blue Rooftop
VC Funds in Attendance:
-Aves Lair, Foresight Ventures, Draper Dragon, and Kucoin Ventures.
Event Details:
-The event takes place on June 22nd from 6-10pm.
-Holders Only.
-Somewhere Nowhere Rooftop.
Details:
-Event takes place on June 23rd from 12-6pm
-230 5th Rooftop Penthouse.
-All Day Food and an Open Bar.
-Limited Edition Merch and Surprises.
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