A Warmer Winter in the Metaverse
Macy's & Mattel go all in. El Salvador buys the Dip.
👋🏽 Hello everyone, gm gm, WELCOME BACK to another edition of the Overpriced JPEGs newsletter, where we’re catching you up on the world of web3, NFTs, and the metaverse.
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🧨 Crypto Contagion … Or is it?
Twitter flooded with fears of ‘Crypto Contagion,’ but how contagious is it really?
FTX fallout continues to panic crypto markets and Genesis just hired a bankruptcy advisor 😬😬
It turns out US Prosecutors investigated FTX for several months before its collapse + Senators are urging regulators to look into SoFi’s crypto trading
SBF doesn’t know how “off the record” works - make sure you avoid his mistakes
If you’re new here, we welcome you to join 147,328 bright + avid readers by subscribing here:
🦃 Mainstream Brands: What Crypto Winter?
Macy’s holding a Thanksgiving Day Parade in the Metaverse; Issuing Balloon NFTs
Adidas launches wearables for its virtual avatars; continues collabs w/BAYC, Gmoney, and Punks Comics; hiring for major web3 role
Mattel launching custom marketplace on Flow (has partnerships w/Cryptoys & Boss Beauties already)
Pudgy Penguins on Kellogg’s cereal boxes; Lei Azuki on an F1 racing car
Bugatti introduces BAYC luggage (props if you had that on your 2022 bingo card)
Reminder for your Uncle this Thanksgiving: big brands continue to pile in the space. And his Google stock still down worse than your Ape 😉
Bored Ape Floor Price (above) vs. Google Stock Price (below)
💣 The Latest on Royalties
X2y2 says “code is law”; joins OpenSea and Blur in enforcing creator royalties
Bobby Hundreds pivots after OS royalty announcement; releases Badam Bomb Squad independently via hypermint
Magic Eden - still holding at 0 royalties - integrates Polygon to grow blockchain gaming segment
🐂 We’re Still Bullish
El Salvador doubles down, buying 1 BTC/day despite declining balance sheet + lack of crypto interest
Cathie Woods buys the dip; Ark scoops GBTC + COIN
22-yo Creature World founder makes compelling argument to lawmakers why most NFTs are like a pair of rare Supremes
🦈 He’s Still Bearish, but He’ll Take Your $$
JPMorgan registers a crypto wallet trademark; CEO Jamie Dimon still hates crypto
William Shatner is the blockchain evangelist we didn’t know we needed
Brycent teased Illuvium Overworld footage; Cryptowalkers’ previewed play & earn adventure game on Unreal Engine. Both are pretty 🤯
Long-awaited 3D Invisible Friends by Nguyen Nhut starts minting Nov. 23
Harry + Meghan building aptly named ‘Meg-averse’ on pax.world
Mark Cuban explains decision to unfollow tons of crypto accounts
Tim Ferris enlists Kevin Rose for charitable NFT project C0CKPUNCH
Coachella lifetime passes locked up on FTX; festival tix remain a compelling use case for NFTs (paging: Rolling Loud)
Coinbase and Space+ launched ‘Starborn’ NFTs. One lucky holder will win a NASA trip + ZeroG training
Drake showed off his wallet and it has serious drip
Bankless kicks off ‘collectibles’; tokenizes SBF interview + gives profits to charity
🍸 We’re celebrating the 1 year anniversary of Overpriced JPEGs in style by launching our own gin brand - Overpriced Jin. Get the low-down on the OPJ x Amber Vittoria x Liquid Collections collab and get yourself a bottle. Bullish on spirit-backed collectibles.
🎙 Today’s pod features social experimenter + anon king Frank DeGods. He had lots to say about growth marketing, building on Solana, and beginning with the Tweet in mind. Seems like Frank had fun too.
🎨 Bueno’s Pablo Stanley is building the “Canva for virtual world building.” Here are the tools he’s launching to democratize web3 creations.
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Maybe you should read and learn something. Restructuring isn't bankruptcy. your lack of knowledge is not encouraging