gm - August 29th, 2023

gm 👋 Hate to sound like a broken record, but volumes haven't changed much DoD. Ethereum sits at $5.5M, Solana at $1M, and Mythos at $900k. DMarket sits atop the collections list with $850k, BAYC comes next with a low $600k and Sorare in third with $550k. The top NFT sale is a CryptoPunk at $107k, followed by a $66k BAYC and $54k Noun.

All eyes in the NFT space are on Tom Bilyeu's Impact Theory NFT collection called Founder's Key, which raised $30M in 2021. The SEC has fined the company $6M for not registering its minted NFTs as securities and has ordered Impact Theory to burn all the Founder's Key NFTs as part of the settlement. Separately, Friend.Tech's revenue is down 90%+ as the hype dies down and the ponzinomics comes crashing down - the company threatened existing users with blocking them from an airdrop if they used other similar platforms, but reversed course after a heavy backlash.

Impact Theory NFTs, called Founder's Keys, were fined $6M by the SEC