- The Drop
- Azuki Virtual City Announced
Azuki Virtual City Announced
New FTX & SBF Updates
Welcome to The Drop NFT Newsletter. Breaking NFT news, project breakdowns, & artist spotlights - We do the heavy lifting so you don't have to! Join our Discord to win raffles and allow list spots!
Here is the breakdown of today's newsletter:
🌱 Azuki announces their virtual world🗞 More FTX / SBF updates
Yuga Labs announce an ingenious upcoming skill-based mint, all the details are in their Tweet here. This latest news has pumped the floor of both BAYC and APE$. (@BoredApeYC)
Beyond crypto tipping, will users be able to sell their usernames directly through the Twitter app? (NY)
Prolific collector of both physical and digital art Justin Sun is launching a collective project, the news has investors and collectors alike in a buzz. (@justinsuntron)
The Sandbox launches its first "green metropolis" called Metagreen. Alongside Regal Hotel Group, they are celebrating longevity and sustainability within the metaverse. (@TheSandboxGame)
Azuki Announces Hilumia 🌱
Out of the blue Azuki posted the trailer sneak peak to their virtual world Himulia which has the entire space buzzing. In their words: "The crossroads of the Garden. A growing city shaped and built by the community. The past, present, and future of Azuki"
@AzukiOfficial announces their virtual city
See the trailer here:
— The Drop (@thedropnft)
Jan 12, 2023
The obvious question is well, what is Hilumia?
Of course, there is a lot of speculation but the key part about the immersive experience so far is the ability for the community to voice what they want it to be.
💡 In @the__eeb's words: What is it? It's another step towards creating a decentralized brands immersive world. Azuki isn't just a brand. It's an entire world, and in the words of the team, "a decentralized anime universe". Everything the Azuki team has done up to this point has been with this aim.
Below is a thread that covers the entire immersive world and what it could possibly hold!
"Welcome to Hilumia"
What is Hilumia? What could it be telling us about the future of @AzukiOfficial?
It's the job of the community to speculate and disseminate, so let's dive in 🤓
— eeb (@the__eeb)
Jan 12, 2023
🚨 You can check out Hilumia and interact with the space here.
FTX and SBF Update 📰
It’s been a minute since we gave everyone an update on the FTX and Sam Bankman-Fried debacle. To start, he was finally arrested in the Bahamas about a month ago and has taken a not-guilty plea in the federal cases against him. Yes, you read that correctly. He doesn’t believe that he’s guilty. From the start of FTX’s collapse, he has maintained his innocence and has chalked up the mistakes to mismanagement and overall cluelessness. But with more information being released on a weekly basis, we’re starting to see the glass house for what it truly was.
House arrest… SBF is currently on house arrest at his parent’s Palo Alto home, which is worth approximately $4 million, in today’s market. Despite his case being in the Southern District of New York, US District Judge Gabriel Gorenstein signed off on a deal that allows him to reside in his home state of California
Bail… SBF was released on a bail by being co-signed by his parents and two other anonymous individuals. Even though his bail was $250 million, the 4 co-signees didn’t have to fork up any funds. But they will have to if he doesn’t show up to court. Letters have also been filed to the courts that ask for the two non-parental co-signees’ names to be released.
Post-arrest op-ed… SBF released a Substack this week, titled FTX Pre-Mortem Overview, that explains his side of the story and tries to bring more clarity to the situation. Despite our opinions on some of the things he says, we think you should read it for yourself. Check it out here.
Backdoor funds… This week, reports purported that Alameda had a $65 billion line of credit from a backdoor installed at FTX. The validity of that remains unknown, but if true, it would be a clear indicator of customer funds being used for purposes other than reserves.
💡The Drop FTX’s demise caused a domino effect that caused damage still felt in the space. Thousands of people lost everything. Their entire life savings. How the US government deals with SBF is going to be a clear indicator of how regulators will treat criminals in the future. Until now, we haven’t seen a case of this caliber, with an individual with as many political relationships as SBF. Will they be lenient on him? Or will they give him the hammer? We will update this story as more information comes out. WAGMI.
Chart Of The Week 📈
5383 trademark applications for 2022! We wonder how many will be in 2023...
Games of Thrones NFT + Kevin = salad fingers
— Loopify 🧙♂️ (@Loopifyyy)
Jan 11, 2023
Sponsored Content: There is no sponsored content in this newsletter.
Did you enjoy today's newsletter?
Disclaimer: The Drop DOES NOT provide financial advice. All content is for informational purposes only. The Drop is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses.
Follow the team:
Want to advertise your brand to 24,000+ readers or get your project featured?
Check out forms on our website here.