crypto implosion 😱

The beauty of gasless marketplaces, Polygon integrations and Beeple switching blockchains.

Leah Alger & Ty Smith
November 09, 2022

(due to a technical issue, yesterday's newsletter is being sent today)

gm. Here's your daily dose of NFTs.

Also, super secret tip...don't check your portfolio today

In today's edition:

In other news:

FTX agrees to sell to Binance and the crypto market....just kinda....imploded (CoinDesk)
Rolex has filed an NFT-related trademark application (Finbold)
Snoop Dogg and Billy Ray Cyrus launch NFT collection (NFT Lately)
GameStop NFT marketplace is live: Here's what people are saying (CoinCentral)
Google Cloud is running a validator on the Solana blockchain (NFT Lately)
Wuhan omits NFTs from metaverse plan amid regulatory uncertainty in China (Cointelegraph)
Bank of Korea tests NFT trading, remittances with CBDC (CoinDesk)

Some other stuff we dig:

Trending collections:

Kraken launches the beta version of its NFT marketplace, which offers gasless transactions.

But what else makes the NFT marketplace special?

Here's what we know:

The launch includes a curated offering of 70 top-selling NFTs on Solana and Ethereum blockchains.
Clients can trade on the marketplace with zero disruption. Even during peak network activity.
The platform will also feature an NFT aggregator, which allows users to purchase and view NFTs listed on other marketplaces.
However, for now, a major downfall is that the marketplace is only open to customers who got ahead of the game and joined the waitlist in May last year.

Tips (because we like ya): Understanding gas fees and how to dodge them

Following the wake of Reddit's surging Polygon NFTs (with some Reddit avatars selling for $5k) and Instagram's Polygon integration, Matic is on a roll.

Here's what we know:

According to CoinStats, the cost of MATIC has jumped >35% in the past week, from approximately $0.90 to $1.25.
Reasons include Instagram using the Polygon network for an upcoming NFT feature and 3 million Reddit users minting Polygon NFTs.
This was quickly offset by the Binance-FTX situation, brining MATIC back down (closer to $1.05)
Not forgetting, around 309k Polygon NFTs were sold on OpenSea in October alone.

CoinStats (as of 3PM ET Nov 8th)

Beeple is turning its back on Ethereum and joining Solana via the Metaplex and Render Network.

But why the change of heart? 🤔

Here's what we know:

Beeple works with Render as a platform advisor to assist the decentralized, peer-to-peer Solana network.
The upcoming NFTs to launch on the platform will focus on "emotional connection or utility" rather than "pure rampant speculation".
Details of the collab are scarce. But, CEO of Metaplax Studios, Stephen Hass, said platform users would be invited to "create their own unique NFT with a Beeple Everyday". How? That's for them to know and us to find out.
Although to bring his ideas to the surface, there are rumors that the much-loved digital artist will explore the possibilities created by dynamic NFTs.

The hosts behind NFT.NYC hosted NFT London on November 3-4, but the conference was an epic failure.

Here's what we know:

The main issues behind NFT London included a lack of attendees and professionalism.
General tickets costing $685 did not help matters.
Conference attendees took to Twitter to moan... 👇

NFT London yesterday was a bit sad. Big empty rooms.
— drnick (anti-crypto arc) 🗳️² (@DrNickA)
10:13 AM • Nov 5, 2022

No way NFT London charged £600 entry for this to be the art gallery 💀
— alexjm 🍿 the blue roo 🦘 (@alexjmingolla)
6:37 PM • Nov 5, 2022

Interestingly, Britian's new PM is a vocal advocate of crypto and blockchain tech. Perhaps Rishi Sunak will bring more Britons to the Web3 world for next time.

Reminder: You have until the end of this month to earn hundreds of dollars in ETH.

Today's edition was written by Leah Alger and Ty Smith.