gm - November 7th, 2022

gm 👋

Crypto markets are softer as CZ starts to sell FTT, causing FUD to circulate even more on Alameda’s solvency. One of Alameda’s analysts was on Twitter earlier today shooting a tweet at CZ telling him they are happy to take whatever FTT they are selling. The FUD around Alameda/FTX started when Coindesk put out a report claiming the accounting at Alameda (sister company) didn’t pass the sniff test, and assets on the balance sheet were just artificially marked higher as they control the supply. Nonetheless, Bitcoin is softer -2.4% to $20.7k and Ethereum is down the same to $1580.

NFT volumes are around $15M on the day, as ETH-NFTs are $11M, ImmutableX at $2M, and Solana-NFTs at $1M. Feels like we’re seeing more and more of ImmutableX around, as it makes headlines for providing an on-chain method to enforce royalty fees and give fee-setting powers to creators. These settings would stay regardless of marketplace decisions or settings. Gods Unchained, ImmutableX project, is top of the charts with $1.6M in turnover as well. Sorare takes second with $1M in turnover on 19k trades.

Snapshot of Blue-Chip NFTs

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NFT headlines:

OpenSea Breaks Silence on NFT Royalties, But Creators Don’t Like What They Hear

Beeple Is Bringing ‘Immersive 3D NFTs’ to Solana

Solana Token Down Double-Digits as NFT Growth Plummets

Wuhan omits NFTs from metaverse plan amid regulatory uncertainty in China

LG Electronics seeks Web3 talent for blockchain, NFT efforts