gm - October 28th, 2022

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Musk finally buys Twitter, and as his first move, has fired top executives to clear the way for his vision. Binance’s CZ said two days ago he wired $500M over to Musk to buy equity into the acquisition. Coupled with the fact Twitter will have a feature to embed NFT marketplace listings, Twitter looks like it will continue to be the watercooler for crypto. Morgan Stanley reports there is a record amount of untouched Bitcoin over the past 6 months, an indicator that investors are patiently waiting for higher prices. Bitcoin is a touch softer on the day to $20.5k on $40B of volume. Ethereum is off -1% to $1533 on a decent $17B of turnover.

Twitter’s new NFT Tweet Tiles

Crypto volumes are at $14M in the past 24 hours, with ETH-NFTs at $10M and Solana-NFTs at $1.5M. Sorare sees $1.4M in volume on 24k transactions. BAYC, MAYC, and Otherdeeds collectively have $2.2M of volume, with Otherdeeds holding the floor price of around 1.2 ETH — ApeCoin staking is coming soon, estimated to launch around mid-November according to Yuga Labs and Horizen Labs. LooksRare is now going to make royalties optional and instead will provide a cut of trading fees to creators.

Snapshot of Blue-Chip NFTs

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NFT headlines:

Twitter Will Allow Users to Buy and Sell NFTs Through Tweets

Another NFT Marketplace Goes Zero Royalties in ‘Race to the Bottom’

Reddit’s Avatar NFTs Generated Over $2.5 Million in One Day

NFT ‘hype cycle’ over, major changes expected in 2023: report

A $175,000 house sold via an NFT. People have questions.


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