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

  Salmander 🦎 $85 @Salmander0

  

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.

Carly Reilly @carlypreilly

ANNOUNCEMENT: Nov 12 was the 1 year anniversary of @overpricedjpegs. To celebrate, I wanted to do something a little different so... Introducing: Overpriced Jin🌟: the finest gin eth can buy 🙃 Here’s a 🧵 on why we’re doing this & how to get a bottle (RT to win one for free)

🎙 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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This newsletter is brought to you by Tech’s Legion of Doom. But if you’d like to sponsor us, reach out here.

@jason @Jason

Tech’s Legion of Doom

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