đđœ Hello everyone, gm gm, WELCOME BACK to another edition of the Overpriced JPEGs newsletter, where weâre catching you up on the world of web3, NFTs, and the metaverse.Â
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đ Before you dive in, be sure to check out todayâs pod with Mattelâs Future Lab team. Theyâre bringing their iconic toys into the digital fold by leaning hard into âkidultâ nostalgia.
đ The Sound of Sirens
SBF finally arrested by Bahamian authorities & denied bail due to flight risk
Charged w/ wire fraud & conspiracy, securities fraud & conspiracy, money laundering - faces up to 115 years in prison
FTX CEO, John Ray told Congress: âThis is really old-fashioned embezzlement⊠This is just taking money from customers and using it for your own purpose.â
4 members of FTX exec team allegedly communicated in a Signal group chat called⊠âWirefraud.â SBF denies it. You canât make this stuff up.
đ„” Celebs in Hot Water over Yuga Endorsements
A 95-page class action lawsuit has been filed against Yuga Labs, MoonPay, and a number of celebs
Alleges Yuga secretly paid celebs to misleadingly promote its assets while Moonpay facilitated transfers to celebs via undisclosed relationships
Alleges everything Yuga sold - from NFTs to ApeCoin - are securities & failure to register & disclose material info to âinvestorsâ resulted in significant financial losses
The complaint names Yuga Labs founders & investors alongside Madonna, Paris, Fallon, Snoop and a string of of other celebs as defendants
Earlier this week, a federal judge dismissed another class action alleging Kim K + other celebs fraudulently promoted the cryptocurrency EMAX
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đč Music NFTs Find a Rhythm
NFT artist launchpad Sound.xyz had a great 1st year; reaching all time highs of 12k+ mints in November; and December shaping up nicelyÂ
Music Players: Winamp adds NFT functionality; LGND Music will support any blockchain
Steve Aoki + 3LAU form âPunxâ (a CryptoPunks electro music collab)
Warner Music Group + Sandbox partner to create music-themed game w/$30k prize pool
Animoca Brands acquired a majority stake in Deadmau5 + Richie Hawtinâs Pixelynx
đ€ Note: this newsletter was written by a human woman (not AI). But here are some of. the. different. ways. people are using ChatGPT.
US Supreme Court hears first case involving a crypto company: a dry, procedural appeal from Coinbase
Americans turn to tax loss harvesting as IRS cranks up heat on enforcement
A bankruptcy judge will soon determine who owns the crypto locked up in Celsius accounts; could set precedent for FTX, Voyager, BlockFi, etc.
Montana Sen. says crypto is useless and regulation only gives ppl cause to believe itâs real
Patent & Trademark + Copyright offices are conducting a joint study on IP law + policy issues related to NFTs.
Theyâre seeking public comment + holding public roundtables
Cool Cats cofounder Evan Luza steps down into advisor role
Investment Firm Pantera compares web2 + web3 salaries
MFers founder + meme lord Sartoshi is back after a 6-month hiatus; End of Sartoshi collection is mint pass for âfree claims from great crypto artistsâÂ
Playboy is celebrating its 69th Birthday for 6.9 days in the metaverse bc of course it is
Michael Phelps launching Sports Illustrated Cover Collection in support of mental health
ENS merch shop is open for biz
Shaqâs hosting a New Yearâs Eve party on Metaâs VR platforms; Performers include Cardi B, Lil Yachty, Ludacris + moreÂ
Less than 1% of web3 CFOs go through formal onboarding when transitioning to crypto roles
DeGods + y00ts threaten to send cease & desists to anyone making derivatives; Punk 6529 weighs in on the idea
ConstitutionDAO2 wants to buy a copy of the Constitution, but has so far raised a mere 1% of the expected $30 mil auction price
Moonbirds dropped a short trailer teasing a potential XCOPY collab
Orlando Mayor gives first-ever mayoral address in the Metaverse
Shannon Snow is a former Google and Meta exec who left big tech for a top role at World of Women. She says startups and crypto are unpredictable, but work fueled by passion and purpose is time well spent.
Carly heads to Paris where Ledger head honchos Pascal Gauthier + Ian Rogers reveal what it takes to transform a rigid hardware security co. into an edgy brand with iPod DNA. Plus, Zeneca weighs in on Starbucksâ loyalty rollout, RTFKTâs bad week, and Appleâs walled garden.
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