Weekly web3.0 recap; Crypto market wrap, The memes review, Who Isaac “Drift” Wright, RR BAYC lawsuit, Update and news of Deca, $MEME and MemeLand, Weekly Trend Topics.
GM GM
welcome to Blouny Mag #27-SZN02
It’s so great to see here fam
Time is rare,so LET’S FUCKING GO!
Weekly Crypto Market Wrap
All the Latest in the Crypto World
Week in Review: A Snapshot of the Crypto Market
In the ever-evolving world of cryptocurrency, the past week was nothing short of a rollercoaster ride. From shifting market sentiment to major legal developments, here’s a recap of what transpired:
Soaring Sentiment and Bitcoin Dominance
Crypto enthusiasts had reason to celebrate as market sentiment hit its highest point since Bitcoin’s record-breaking run to $69,000. Bitcoin’s market dominance also saw a remarkable rise, reaching 54% – a level not seen in 2.5 years. All eyes are on the next halving event.
The FTX Trial and Legal Intricacies
The FTX trial involving Sam Bankman-Fried made headlines as he testified without a jury present. Bankman-Fried claimed that FTX decisions were taken based on legal advice and asserted that he believed “taking FTX deposits through Alameda was legal.”
MicroStrategy’s Bitcoin Stash
MicroStrategy’s bold investment of 158,245 BTC was a hot topic as it returned to profitability with Bitcoin’s price climbing above $30,000.
Binance’s Legal Battle
Binance, a major player in the crypto space, sought the dismissal of a lawsuit filed by the CFTC, criticizing the commission for its global regulatory ambitions.
SEC Charges BlackRock
The SEC charged BlackRock with a $2.5 million fine due to incorrect investment disclosure, highlighting the regulatory challenges in the crypto asset management space.
Mastercard’s Entry into Web 3
Mastercard ventured into the world of Web 3 payment services by partnering with MoonPay, marking another significant move towards mainstream crypto adoption.
Stock Market Shake-Up
In a surprising turn, the “magnificent seven” stocks faced a combined loss of a staggering $280 billion as the crypto market surged. This plummet was the worst performance since the beginning of the COVID-19 pandemic.
Economic Insights
Beyond the crypto realm, the US economy defied recession expectations, growing by an impressive 4.9% in the third quarter. Meanwhile, the European Central Bank decided to maintain its current interest rates, and the Bank of Canada remained hawkish amid persistently high inflation.
This past week in the crypto market has been filled with excitement, legal developments, and unexpected twists. As we look ahead, the cryptocurrency industry continues to push boundaries and challenge traditional financial systems.
Memes:
In the past week memes continued grinding with the same 3 weekly drops, even though the demand has decreased during this long bearish market but still memes are dropping at 301-399 supply which is not a huge supply for an edition of a great artist with a cool artwork containing a message for a better future.
As always don’t forget to check out the RegularDad’s Deca Gallery to see and enjoy all the memes, memelabs and rememes drops in the past week.
Who is Isaac “Drift” Wright?
An Urban Explorer Turned NFT Photography Sensation
Isaac Wright’s Journey from Climbing to NFT Photography
Isaac Wright, better known as “Drift” in the digital art and NFT photography world, has a remarkable story that has taken him from urban exploration to becoming an NFT sensation. At 25 years old, Isaac Wright has gained recognition in the NFT community for his unique and daring photographic work.
Coping with PTSD Through Urban Exploration
Wright’s journey began when he left the U.S. Army on medical retirement after six years of service, primarily as a paratrooper in an Army Special Forces battalion. As a civilian, he faced the challenges of post-traumatic stress disorder (PTSD) and feelings of disillusionment. Urban exploration became his outlet to cope with these issues. Scaling bridges and buildings offered him a fresh perspective on life, allowing him to focus on the present and overcome his past trauma. This newfound passion led him to discover a therapeutic escape and a captivating view of the world.
The Birth of “Drifter Shoots” and NFT Photography
Hoping to transition his urban exploration hobby into a profession as a photographer, Wright began to scale buildings and structures, capturing breathtaking views. He shared these images under the alias “Drifter Shoots” on social media, attracting thousands of followers. His work stood out for its unique perspective, showcasing a world most people rarely see.
Legal Troubles and the Path to NFTs
However, the line between passion and crime became blurred. Wright faced legal troubles and was charged with burglary and multiple felonies related to his urban exploration activities. These charges could have led to more than 25 years in prison.
While incarcerated for over four months, Wright’s identity as a black man and his military training were used against him. Yet, adversity often leads to innovation.
A New Beginning in NFT Artistry
Wright’s introduction to NFTs occurred during his time behind bars. Learning about NFTs and their potential use for artists sparked his interest. This new paradigm, where digital art could find its value and be sold directly to collectors, intrigued him.
After his release, Wright used his experience as an urban explorer and photographer to create an NFT collection titled “Where My Vans Go.” These digital artworks capture his bold journeys to the tops of structures while featuring his Vans sneakers as a recurring subject. The collection provides viewers with a thrilling sense of height, mixed with awe, serenity, and accomplishment.
Art for a Cause
Wright’s NFT journey didn’t just end at self-expression. He also contributed to charitable causes. His NFT “First Day Out” showcased a transition from a video of a free and dancing Drift to a breathtaking nighttime shot on a suspended bridge. A substantial portion of the proceeds from this sale, amounting to $6.8 million, went to The Bail Project, a nonprofit dedicated to helping individuals who can’t afford bail in the United States.
Isaac “Drift” Wright’s story is a testament to the power of digital art and NFTs in transforming lives. His journey from coping with trauma through urban exploration to becoming an acclaimed NFT photographer is a remarkable example of how the world of NFTs can offer both creative expression and opportunities for giving back.
Ryder Ripps Ordered to Pay $1.5M to Yuga Labs in Artistic NFT Feud
Digital Art Meets Legal Battle
In a groundbreaking legal case that has captivated the art and digital art communities, Ryder Ripps has been ordered by the court to pay a staggering $1.5 million in damages to Yuga Labs. This dispute, originating from Ripps’ satirical take on Yuga’s Bored Ape Yacht Club (BAYC) NFT collection (RR/BAYC), raised significant questions about art, digital art ownership, and the boundaries of creative expression in the NFT realm.
Cartoon PFP Sparks a Heated Legal Clash
The heart of the issue revolved around Ripps’ interpretation of Yuga’s BAYC NFTs. The court’s decision means that all RR/BAYC NFTs are now deemed assets belonging to Yuga Labs, further blurring the lines between art and ownership in the digital art world.
Legal Battle Resolved
The legal battle had raged on, with accusations ranging from intellectual property infringement to questions about “naked licensing” of trademarks. However, the court’s final verdict has settled the matter. Ryder Ripps and his associate, Pauly, have been ordered to not only pay a substantial sum but also transfer control of the RR/BAYC smart contract to Yuga Labs. In addition, any profits associated with the sale of RR/BAYC NFTs must be returned.
Yuga Labs: Defending Digital Art Ownership
One key aspect of this judgment is the validation of Yuga’s claim to the BAYC Marks, which, although unregistered, the court has recognized as Yuga’s property. Yuga’s active usage of these marks in various commercial ventures, including online gaming, real-world events, merchandise marketing, product introductions, and collaborations, has been pivotal in solidifying their ownership.
No Room for “Fair Use”
The court’s rejection of the “fair use” argument is significant. It clarifies that the sale of RR/BAYC NFTs by Ryder Ripps and Pauly cannot be deemed as “expressive artistic work” protected under the First Amendment. In the court’s eyes, these NFTs resembled more of a “counterfeit handbag” than a form of artistic expression.
What’s Next
With the legal battle concluded, Yuga Labs now faces the task of recovering costs and attorneys’ fees, as deemed by the court. The parties are expected to meet and confer to agree on the reasonable amount of these fees, with the hope that litigation won’t extend further. The court’s decision is not just a financial blow but a significant chapter in the ongoing story of NFT art and ownership.
DecaVerse:
Last week at Deca platform the entries for the hafftka’s Decal closed, also the 17th MVG finished while the Naime’s galler which was nominated by XO won the competition and earned the Most Valuable Gallery badge for her gallery.
Make sure to check it out here.
According to the discord chats at Deca server last week after a temporary test update on the platform users saw the message option, used it, capture it as a screenshot and then minted it at Objkt as the first message on Deca which you can find it here.
Website came back to normal quickly but this feature will be implemented in the future to make it one step closer to a more user friendly platform.
Exploring the Memeland and $MEME Coin Phenomenon
Unveiling the $MEME Coin Launch: An Overview
The Fire Sale’s Lightning Start
The anticipation surrounding Memeland’s $MEME Coin launch has reached a fever pitch. With the Fire Sale now in the rearview mirror, let’s delve into the key details that every enthusiast should be aware of. Memeland’s journey doesn’t stop with the Fire Sale; it’s an 18-month-long adventure.
The Memeland and 9GAG Connection
Memeland, a Web3 venture studio, traces its roots to 9GAG, the renowned Hong Kong-based meme-centric entertainment website. With over 200 million followers across its social media platforms, 9GAG’s foray into Web3 through Memeland in April 2022 has generated immense buzz. Memeland has already introduced NFT projects like Captainz, Potatoez, and MVP and is now gearing up for a token launch.
Breaking Down the Tokenomics
The total supply for $MEME Coin is set at $69,000,000,000 $MEME, with an initial price of $0.001 USD per $MEME. Notably, 2.75% of the total supply unlocked on the first day, with the remainder unlocking daily over 18 months. Here’s a glimpse of the distribution:
– Private Sale: 6,900,000,000 (10%) — Exclusively for Memeland Captainz holders
– Contributors: 13,800,000,000 (20%) — Partners and Memeland’s internal team
– Fire Sale: 8,280,000,000 (12%) — Reserved for the allowlist and select waitlist participants
– Airdrops: 17,250,000,000 (25%)
– Ecosystem Fund: 22,770,000,000 (33%)
Allowlist Allocations: Tailored for Memeland NFT Holders
Your allocation in the Fire Sale depends on the NFTs you hold from the Memeland ecosystem. Here’s what’s up for grabs:
– MVPs: A generous 12 lots per NFT
– CAPTAINZ: Tailored guarantees based on species
– ALIEN: A substantial 10 lots per NFT
– KAIJU or KONG: A share of three lots per NFT
– SHARK or KRAKEN: Two lots per NFT
– HUMAN or UNREVEALED: One lot per NFT
– POTATOZ: One lot per NFT for lucky waitlist deposit wallets
For those forming or joining crews, there are additional perks:
– Full Crews: An extra lot per NFT
– Super Crews: A whopping 12 extra lots per super crew, plus exclusive access to the private sale
The Fire Sale and Who’s Invited
The Fire Sale took place on Thursday, Oct. 26, at 11 a.m. (UTC+8). It was exclusively open to Captainz/MVP holders. While Potatoz or waitlist code holders had a chance to participate, it was not guaranteed. Each lot equals 300,000 $MEME.
The World of $MEME Coin Farming
The $MEME Farming Dashboard is a hub for community engagement. By completing quests like promoting Memeland on various platforms, users can earn MEMEPOINTS, a digital currency within the ecosystem. These points are a direct path to rewards, although the specifics remain undisclosed. Many anticipate they’ll lead to a $MEME airdrop.
A snapshot was taken on Oct. 25 at 11 p.m. (UTC+8), signifying an exciting future for those holding MEMEPOINTS.
Please note: $MEME is humorously described as a meme coin with no utility, roadmap, promises, or financial expectations — it’s all about memes.
Memeland: Where Meme Meets NFT
The $MEME Token Sale Storms Past $10 Million
The token sale of Memeland’s $MEME coin achieved a remarkable milestone, garnering $10 million in commitments just 42 minutes after launch. The sale, characterized by its focus on memes, had community members engage in various activities to access the sale.
The Memeland and 9GAG Connection
Memeland, developed by the team behind 9GAG, a popular meme-sharing and news site, boasts deep-rooted connections. The project aligns with the growing trend of merging NFTs, metaverses, and gaming.
While the sale is already sold out, previously waitlisted users still have a chance to access the tokens as the sale continues. Worth noting is that $MEME tokens offer no utility, roadmap, financial returns, or promises — it’s all about embracing the meme culture.
Final Thoughts
The journey of Memeland and its $MEME Coin has already shown remarkable promise. From the Fire Sale to a vibrant meme-driven ecosystem, Memeland’s impact on the Web3 space is palpable, offering a unique fusion of memes and NFTs. As the $MEME community continues to grow, the future holds exciting developments and collaborations in this vibrant digital landscape.
No comment