Magic Eden & Hyperspace Marketplace Beef'n

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!

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• Cool Cats will be revealing their Cool Comics today! (@coolcatsnft)

• Mastercard is releasing an awesome new debit card that can be customized with NFTs. (mastercard)

• Australia begins work and research on implementing digital finance in the nation. (rba)

• Do NFT projects need utility to be successful? Artnet takes a look at the "phygital" movement. (artnet)

• Roblox helps Walmart develop two separate metaverses within its versatile platform. (walmart)

• Historical auction house Christie's launches an NFT marketplace called Christie's 3.0. (decrypt)

• Stanford researchers band together in an attempt to thwart the harmful effects of crypto and NFT fraud. (@kaili_jenner)

• DEGENTOWN refunding will be wrapped up this week: Magic Eden's marketer Tiff00ny reports. (@Degeneratenews)

• Hyperspace announces collection bid, a feature that allows buyers to place a single bid that applies to an entire collection, and sellers to skip the listing process to sell their NFT to the highest bidder. (@Hyperspacexyz)

Hyperspace Accuses Magic Eden

The majority of the time, marketplaces, specifically, stay in their lane and perform their normal business activities quietly, meaning that they don’t call out other competitors in the space. Yesterday, in the Solana world, quite the opposite happened.

A marketplace by the name of Hyperspace (HS) is claiming that the Magic Eden (ME) marketplace is trying to stop them from growing as a company. They are alleging that ME is “working tirelessly to implement new ways to block aggregators.” This is because they are making it hard to implement their API on other websites, such as Hyperspace, which relies on their API to aggregate listings. The old ME contract allowed easy API integration from the on-chain contract, but the new one seems tricky.

The biggest allegation from Hyperspace:

An engineer at HS, @0xKmafia, is claiming that ME employees are actively trying to get the HS API in order to perform DDoS style attacks. In other words, ME employees are, allegedly, deliberately trying to block the growth and exposure of HS. Activity such as this, according to the majority of the NFT community, is entirely against what Web3, as a whole, stands for.

Magic Eden Isn't Backing Down

ME isn’t backing down either and has come out saying that the allegations against them are blatantly false. They are saying that the HS team “continuously spread misinformation about [ME] while [they are] trying to focus on providing value to [their] users.” ME’s position is that HS is just spreading misinformation for no other reason than to FUD them and gain market share. As this story has just come to light, we will follow it and provide updates in the short term. WAGMI.

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Welcome To Walmart Land 🌎

In a bid to build relevance and brand recognition, Walmart has generated two types of virtual experiences in Roblox. This isn’t necessarily a groundbreaking and exciting instance of Web3 adoption because Walmart is just taking the nightmare of retail advertisements and marketing and packing it dense in their share of Roblox’s virtual real estate.

Walmart Land

Walmart Land will be a Walmart-logo-shaped island with an island center and six unique zones for various experiences. The experiences offered will be a variety of engaging social experiences that are represented by different retail brands most appropriate for the experience in question. For example, Netflix will host Netflix Trivia with a virtual version of Noah Schnapp, while different clothing brands will try to get avatars to rock their clothing in the “House of Style.” Players can exchange tokens for virtual merchandise and retailers like Skullcandy will represent their logo on digital headphones. Entertainment brands will find opportunities to share their stuff on the “Electric Island” where avatars can dance, mix songs, and virtually rage. Walmart’s Universe of Play is directed towards even younger kids who will be thrown into very simple and engaging games hosted by brands like Jurassic World, PAW Patrol, and Magic Mixies.

As it would turn out, Walmart Land isn’t exactly the most "happening" space on Roblox. Relative to Roblox’s tremendous daily user count, Walmart Land's foot traffic isn't booming as many hoped. Possibly individuals in the web3 space sniffed out the marketing grift from a mile away? But this may of course change, as people’s tastes mature and they stop ignoring the wonderful and endless possibilities that must be available to them at Walmart Land.

Hadeswap Goes Live 🔥

The Solana NFT community witnessed its largest and most noteworthy Automated Market Maker Hadeswap finally go live with a lite beta version after dealing with a groundswell of anticipation for quite some time.

Hadeswap is an Automated Market Maker marketplace that improves NFT liquidity and its trading experience. Similar to how you would trade and swap cryptocurrencies with Uniswap, Hadeswap allows users to trade and swap NFTs utilizing liquidity pools. With Hadeswap, users will earn passive income by providing liquidity (NFT/SOL) to the projects they support via fees, and create pools to buy/sell NFT collections along custom price curves.

This version was released as a complete AMM pool with a lite front end, enabling liquidity to be plugged in so traders could start interacting with the pools and provide feedback. Although liquidity providers can set up their fees, this version also launched with 0% protocol fees which will be converted into 0.5% platform fees dedicated to ABC holders.

Sponsored Content: NFTees is a sponsor of The Drop.

• Bullish: A Sappy Seals Breakdown

• Cool Cats' New CEO

• MultiBeasts Sells Out: The Haas Brothers

• Autograph Signs With The PGA Tour

• Someone Minted An NFT OF Ethereum's Last PoW Block

• Ethereum Has Officially Merged

• Doodles Raise $54 Million

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.

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Gannon Breslin, Kayla Kilbride, CryptoVonDoom, Naveed Lalani, Alex Reed, Naman Patel, Big Tuna

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