gm - December 20th, 2022

gm 👋

Thanks to the BOJ’s crazy new regime, markets overall are cautiously risk-on, but at the same time super confused. USDJPY is now 131.20, after having almost reached 150 back in October! Essentially, Kuroda announced the BOJ will up the amount of quantitative easing, but simultaneously saying they will spend more now so they don’t have to spend later in the future. Anyway, Bitcoin is mum to money-printer-go-brrr and is +1% to $16.8k. Ethereum is +2.8% to $1210. Meanwhile, Elon is looking to step down (or not? who knows) as Twitter CEO, reminding everyone again why decentralization is important.

NFT volumes are back over $20M today. ETH-NFTs are $18M, Solana-NFTs are $1.5M, and Polygon-NFTs at $1M. BAYC + MAYC are $5M turnover across 133 trades, continuing their trend of staying on top (unclear if driven by wash trading on Blur). Azuki sits at $1.4M, Otherdeed and Moonbirds at $1M volumes. Trump’s collection saw $500k on the day, despite Crypto Twitter having a field day highlighting all the copyright and stealing of others’ artwork in the creation of some of the NFTs in the collection.

Snapshot of Blue-Chip NFTs

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NFT headlines:

Crypto Twitter Delves Into Strange, Sloppy Side of Trump’s NFT Collection

Trump NFTs are not art. Unless you consider grifting an art form.

Trump is accused of using copyrighted images in his NFT collection

From boom to bust: The top 10 celebrity NFT losses in 2022

Amazon’s new series ‘NFTMe’ explores NFT culture and disruption worldwide

Bored Ape Yacht Club NFT Creator Advances Trademark Lawsuit (1)

Atlantic Records on Web3 Strategy and the Future of Music