GM GM
welcome to Blouny Mag #25-SZN02
It’s so great to see here fam
Time is rare,so LET’S FUCKING GO!
Weekly Crypto Market Recap – October 16, 2023
Weekly Crypto Market Overview
Market Insights
In the crypto market, Bitcoin’s consolidation phase hinges on several factors, including concerns about the Federal Reserve’s interest rate policies and sentiment regarding Bitcoin ETF approval. While CPI data met expectations in September, a surprising PPI MoM increase of 0.5% may signal a potential core CPI rebound. Gold’s 5% surge indicates that some investors are favoring safer assets. In contrast, Bitcoin faced a decline of over 3% for the week.
Bloomberg’s ETF experts suggest a 90% likelihood of a Bitcoin spot ETF approval within the next three months, driven by buying interest around the 50-day SMA. Moving forward, a push above the 20-day EMA could propel BTC/USD beyond the 28,000-resistance level, while a downturn might test support at 24,800.
The low volatility in Bitcoin and recent regulatory uncertainties have deterred investors from altcoins, with Bitcoin’s relative strength in the ETH/BTC pair downtrend standing out. The SEC’s decision not to contest the ruling on Grayscale’s Bitcoin ETF proposal sets the stage for the industry’s first Bitcoin ETF.
Australia’s efforts to regulate cryptocurrency have gained momentum, with plans for financial service licenses and token transaction stipulations for crypto platforms.
Crypto Landscape Highlights
1. Bitcoin Lightning Network Soars: The Bitcoin Lightning Network experienced a remarkable 1,200% growth over the past two years, highlighting the rapid adoption of layer-2 solutions.
2. Investment Product Inflows: Crypto investment products recorded their highest inflows since July, indicating renewed investor interest in the crypto market.
3. JPMorgan’s Tokenisation Platform: JPMorgan introduced a tokenisation platform, further validating blockchain’s utility in traditional finance.
4. Regulation in Australia: Australian crypto exchanges are poised to adhere to the same financial service laws as traditional exchanges, potentially requiring mandatory licenses.
5. Binance’s Compliance: Binance froze accounts connected to Hamas following an Israeli request, emphasizing the platform’s commitment to regulatory compliance.
6. Blockchain Gaming Investment: The blockchain gaming sector attracted $2.3 billion in investments this year, underlining its growing significance.
7. SEC’s Decision: The SEC chose not to appeal a court ruling on the Grayscale Bitcoin ETF, paving the way for potential ETF approval.
8. Ferrari’s Crypto Acceptance: Ferrari announced plans to accept cryptocurrency as payment for cars in the United States, bridging luxury and digital assets.
9. Legal Actions: Both the CFTC and FTC filed a lawsuit against Voyager Digital’s CEO, alleging fraud.
10. Accountability Claims: Caroline Ellison, former CEO of Alameda, accused Sam Bankman-Fried of misusing user funds and claimed Binance’s CEO’s tweets contributed to the collapse.
11. Uniswap’s Mobile Wallet: Uniswap introduced a mobile Ethereum wallet for Android users, enhancing accessibility to decentralized finance.
MEMES:
Memes passed their last week of resting between season 4-season 5 and new season just announced with a great artist and expert in AI, missalsimpson.
Also in the lovely Hugo Faz dropped a very innovative piece to celebrate and fund the opening of their new gallery in Spain to build it as a place to develope and spread the goods of decentralized art (Read more about the Casa UNA)
. The peice had 13 memetic elements from the 6529’s meme collection qhich the first winner who noticed all of them got an edition of this great drop.
Read more about Hugo Faz here.
And for a great look on all the released memems, rememes and meme lab items so far check out the seize website and try its different features.
Who is OSF: From Trading to Digital Art and NFTs
Introduction to OSF
Meet Ovie Faruq, better known as OSF in the digital art and NFT world. OSF’s journey is a unique one, starting from a career in finance to becoming an influential digital artist and NFT creator.
The Transition from Finance to Art
Ovie Faruq, or OSF, had a remarkable transition from his job as a trader at Barclays in London to a digital artist and NFT creator. His foray into the world of NFTs began while he was still working in finance. He was already involved in Web3, primarily as a buyer and seller of NFTs.
While still in the finance world, OSF created an NFT that marked a pivotal moment in his career. It was a doodle of a skull wearing a hoodie with the letters “GM” on it, signifying “good morning” in the NFT community. This seemingly casual artwork turned out to be the turning point in his life. OSF recalls how disillusioned he had become with his day job, and this piece of digital art made him contemplate leaving his job to pursue a career in NFTs.
He decided to take a leap of faith, and it changed the trajectory of his career. He may not have had formal art training, but his history in digital art communities, such as DeviantArt, where he connected with other amateur artists, was a part of his journey that ultimately led to success.
Challenges and Surprises
One of the unique aspects of OSF’s story is his willingness to challenge himself. People might not immediately view him as a “real artist” due to his background in finance, but he finds joy in the challenge. His art often features themes related to the challenges and risks in the world of crypto and finance, such as market crashes and losses.
Notably, his artwork has been recognized by some high-profile figures, including Snoop Dogg, who purchased two of his NFTs. OSF’s journey into digital art and NFTs showcases his resilience and determination to follow his passion.
OSF’s History in NFTs
A Crypto and NFT Investor
Before fully transitioning into the NFT space in early 2022, OSF had a long career in traditional finance, including trading at Barclays. His leap into the NFT world began when he learned about NFTs, which led him to invest in Bored Ape Yacht Club in May 2021. This marked his early steps in the NFT world, where he minted and sold numerous apes, amassing a considerable collection.
In addition to his role as an investor, OSF is a builder and artist himself, distinguishing him as a multifaceted player in the NFT ecosystem. He’s recognized for his unique artistic style that combines dark and vibrant themes, animated elements, and his iconic skull-faced character. His art often portrays the challenges and excitement of the crypto world.
Becoming a Recognized Artist
Although OSF didn’t release his first NFT artwork until October 2021, he quickly gained recognition in the NFT space. His portfolio expanded, attracting a broad audience and a strong following. Notably, one of his pieces sold on SuperRare for a significant amount, demonstrating the growing demand for his unique creations.
OSF’s Notable NFT Collections
OSF has created a range of NFT collections, each with its own distinct style and themes. Notable collections include:
– Rektguy: A massive collection of 8,814 tokens, reflecting his journey from finance to art.
– Red Lite District: A collection of 210 tokens that captures the atmosphere of nightlife.
– Editions: Comprising 19 unique images, this collection has a total circulation of 3,219 tokens.
– 7 Deadly Sins: This collection explores the seven deadly sins through OSF’s unique artistic lens.
OSF’s NFT Success
OSF’s success in the NFT space is undeniable. His creative and unconventional approach to digital art has gained him recognition and a strong presence in the NFT community. With a background in finance and trading, he brings a unique perspective to the world of digital art, blending elements of risk and innovation.
You can explore OSF’s art and collections on various platforms, such as SuperRare, Foundation, OpenSea, and Nifty Gateway.
Whether you view him as a trader turned artist or an artist with a deep understanding of finance, OSF’s journey exemplifies the diverse and ever-evolving nature of the NFT ecosystem. His story is a testament to the transformative power of Web3 and digital art.
EMMA: Revolutionizing NFT Allowlists
Navigating EMMA’s Role in NFTs
The NFT space is always on the move, and the latest stride comes from punk6529 with EMMA – the Editor for Managing MultiPhase Allowlists. This article dissects EMMA’s impact on NFTs from a media perspective, shedding light on its significance.
Unraveling EMMA: A Fresh Perspective on Allowlisting
EMMA, a powerful tool conceived by punk6529, redefines how NFT creators manage access to their artworks. While the prevailing bear market sentiment leans towards open access, EMMA envisions a future where artists seek control over who mints their NFTs.
Bridging the Gap: Real-World Parallels
In the non-NFT art world, galleries carefully control art releases. EMMA translates this concept into the NFT realm, allowing artists to grant priority minting access to their loyal collectors. Punk6529’s innovative allowlists offer unique rules and methods.
Automating Allowlist Management
The manual management of allowlists can be a full-time job. Recognizing the need for automation, punk6529 introduced EMMA. The tool, which is open-source, simplifies allowlist creation and management.
EMMA’s User Base
EMMA is tailored for power users. While there’s room for UX enhancements and additional metrics, it’s indeed a usable tool. Punk6529 and The Memes team plan to employ EMMA in SZN5.
A Fresh Approach to Access
Punk6529’s commitment to accessibility shines through. EMMA offers access freedom while implementing rate limiting without traditional identity verification methods.
EMMA and On-Chain Wallets
EMMA respects the decentralized NFT ethos, allowing users to connect a hot wallet without invasive identity checks.
The Full Picture
In essence, EMMA provides a comprehensive NFT ecosystem:
– Utilize the tool on The Memes’ site.
– Run EMMA independently.
– Contribute to its development.
– Connect with a hot wallet for access based on on-chain activity.
A Grand Vision
EMMA’s creation is driven by a grand vision – bringing NFTs to 100 million users in an open, NFT-based metaverse. It’s a collective effort, not a solitary journey.
Get Involved
Punk6529 invites the community to join this movement, help build systems and tools, and collectively shape the NFT landscape.
Discover EMMA
EMMA invites exploration. Use the tool, provide feedback, and be part of the conversation. For input, reach out to 6529Collections. For discussions, join the EMMA community on Discord.
With EMMA, punk6529 and The Memes lead the way in making NFTs more accessible and community-driven, fostering collaboration and innovation in the NFT sphere.
DecaVerse:
This week at DecaVerse we said hello to a great man and an amazing artist, hafftka. Next Decal is done by him and everyone now can attend to check the eligibility to enter the raffle at https://deca.art/Decal.
You can check his artist profile on Deca at https://Deca.art/hafftka
Read more about the artist and his story at Blouny mag 20
Pudgy Penguins: Thriving in the Crypto Winter with Innovative Royalty Strategy
Introduction
As the NFT market experiences a seven-week decline, Pudgy Penguins have emerged as a standout success story. They’ve adopted a unique two-tiered approach, blending gaming and intellectual property, while also introducing an ingenious royalty strategy for licensed penguins. This article explores their strategy and how it’s reshaping their success in the NFT world.
Adapting to the Changing NFT Landscape
Yuga Labs’ Pivot
Prominent NFT brands like Yuga Labs and Proof Collective have recently faced layoffs and major strategic shifts. Yuga Labs, for example, has decided to outsource game development and focus on their Otherside metaverse and community. This shift underscores the challenges of game-centric strategies in a volatile market.
Pudgy Penguins’ Success Recipe
In contrast, Pudgy Penguins have thrived during these challenging times. Their unique approach, combining gaming and intellectual property, has garnered them significant success. Their aggressive marketing efforts outside the traditional NFT community have paid off. For instance, Pudgy Penguins toys are now available in thousands of Walmart stores in the U.S., and a substantial portion has already been sold.
The New Royalty Strategy
Insights from Luca Netz
Recently, Luca Netz shared insights into Pudgy Penguins’ royalty business for Pudgy holders. Pudgy owners are set to receive 10-15% of net with royalties.
The Walmart Deal
To illustrate this strategy, let’s consider the recent Walmart order. Walmart ordered 800,000 Pudgy Penguins at an estimated retail price of $8 each. Thanks to effective negotiations, Pudgy is expected to gain 15% on this order, amounting to $960,000 in gross revenue.
Licensing for Future Orders
This strategy extends beyond single orders. In the upcoming Q4 purchase order, between 50 and 100 Penguins will be licensed. Each licensed penguin, at 15% of net, stands to generate around $2,000. Given that Pudgy Penguins are currently valued at $8,000, this approach provides a promising yield.
Read everything about Pudgy Penguins toys and Walmart.
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