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Magic Eden And Azuki Form Partnership

Magic Eden, Azuki, Pudgy Penguins Form Partnership

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All the NFT, web3, and crypto news you need in one Drop!


I’ve been sick with the flu for the past 3 days so I apologize for the missed newsletter on Tuesday. Made up for it though with this news packed letter! Enjoy 🙂 

Here is the breakdown of today's newsletter:

📈 What’s Dropping In Web3
🪄 Marketplace Wars Rage On
🚩 Crypto Update
🎥 Bitboy Stops Stream
🖼️ Top 12 Most Iconic Artworks Of 2023
💧 Meme Drop

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  • Go Daddy: Has partnered with ENS domains and now users can kill two birds with one stone when making a web2 and web3 domain. (@ensdomains)

  • G Shock: Is coming out with a Doodles collab drop on Feb 15th. Check out the details here.

  • Pixelmon: Raised $8 million after being chalked up as a failure/rug pull.

  • Quantum Cats: ICYMI, The feline Ordinal collection from Taproot Wizards has made a staggering $13 million from their mint.

  • Roblox: Has developed a new AI-powered "unified translation model" that enables players to communicate with each other through text in real time, even if they speak different languages. (CT)

  • Luna: Terraform Labs former CFO Han Chang-joon, extradited to South Korea. (TB)

Are Projects Saving Marketplaces? 🤝

There’s no question that the NFT Marketplace wars have completely been flipped on its head. OpenSea at one time was on top and dominated close to all of the space’s marketshare. Now Blur has served them an uno reverse card and has taken over with their strategic plays. Magic Eden is catching up and has started to partner with influencers across the space making a comeback of its own.

💡 What’s Happening Now?

  • Magic Eden has partnered with Azuki and Pudgy Penguins and will now be the preferred marketplace for Chiru Labs NFT collections (founder of Azuki)

  • Magic Eden, Azuki, and Pudgy Penguins will be in collaboration over the vision and execution of their Ethereum NFT marketplace

  • Blur is moving to a royalty free marketplace and projects (businesses) are missing out on millions of dollars

  • There’s currently no word on whether Magic Eden will block access to other marketplaces on their platform

🔥 Hot Take:

0% royalty fees for a marketplace is amazing for the consumer but horrible for the space as a whole. If marketplaces/projects aren’t making money artists flee to other mediums along with the fact that eventually projects and marketplaces with fees will go belly up. In a healthy space artists, projects, marketplaces, advertisers make money. Without it the space is destined to fail.

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  • ENS: Partners with GoDaddy to link web domains with blockchain names (M)

  • MetaMask: Inks partnership with Robinhood to combine DeFi with TradFi experiences (CD)

  • BlackRock and Fidelity: Hold $5.5B in BTC (DLN)

  • Saltwater: Closes $5.5M seed round for web3 gaming (CD)

  • Craig Wright: A mathematician and computer scientist that claims to be Satoishi Nakamoto, to be tried in court over identity (G)

Bitboy Crypto Stops Stream 🎥

Bitboy (Ben Armstrong) announces he is not going to be doing a live stream anymore after lawyer fees are allegedly (we say allegedly here because the dude is a pathological liar) in the 100k a month category. Along with this, he alleges that his show costs $25k a week to produce… HOW?! Someone refer the man a virtual assistant for crying out loud.

Sometimes its good to step back and look how far this space has come. This article is perfect to get a real perspective of how the web3 space has fought through the bear market and is seeing the other side. Shoutout to all the artists who never gave up!

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That's all for today's issue! Thanks for reading this far and also make sure to give our Twitter a follow daily for breaking web3 news! (@TheDropNFT)

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Written by: Gannon Breslin

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.