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Here is the breakdown of today's newsletter:
⚡ NFTs Are NOT Dead
💥 Sega x Double Jump recreate Sangokushi Taisen in Web3
The floor price of BAYC has dropped to a two-year low. (DC)
Dior is dropping a new line of shoes with accompanying NFT. (YT)
Ubisoft unveils a new blockchain game called Champions Tactics, an RPG PVP game. Check out the trailer. (YT)
Some disgruntled Azuki Elementals holders banded together to demand a refund but ended up getting hacked. (DC)
Charting the Course of NFTs: A Retrospective and Projection
In the past few years, the world of Non-Fungible Tokens (NFTs) has gone through significant changes, with highs that make you dizzy and lows that make you nervous.
Even though the value of the star-studded Bored Ape Yacht Club fell to a two-year low, it's important to look at this drop in the context of the volatile NFT market as a whole.
Another NFT giant, Azuki, also had to deal with harsh criticism and a sell-off because of their Elementals new collection and the fact that OG holders lost trust in them because of bad communication and what seems to be the "Ultimate Rug.”
Light at the end of tunnel
It's crucial to remember that the darkest hour is just before dawn. These tough times often spark new ideas and create an environment where NFT pioneers work hard to get ready for the next rise.
Even though the market is looking bad right now, there is strong faith in the future of NFTs. This is because our lives are becoming more digital and the "digital flex" is becoming a popular way to live.
Well-funded companies like YugaLabs are changing the NFT frontier in a way that might be quiet but determined. They are getting ready with their Mataverse/Gaming ecosystem to rise from the ashes of the bear market.
Investors Seeing a New Trend?
With that said, the Azuki saga has brought to light a new trend: investor action within Web3. This is best shown by the fact that unhappy holders created the Azuki DAO.
What’s next?
In spite of all the trouble, there are still a lot of good ideas popping up. Even though there is a debate about the mint supply and price, the Ether NFT project is getting more notice for its beautiful artwork inspired by anime and its possible uses.
Another trailblazer, DeLabs founders of Degods and y00ts, has been making waves with its cryptic website and ground-breaking approach to intellectual property rights for NFT holders.
Something about this shows who will be successful: As we move through the ever-changing world of NFTs, it's clear that those with unique value packages and long-term growth plans will do best.
Even though the market is down right now, we know from the past of cryptocurrencies like Bitcoin and Ethereum that this is part of a cycle, a time to build and plan.
The flow of talented people into Web3 and the introduction of Web2 companies in the NFT market are strong signs that NFTs will be around for a long time. As we look to the future, NFTs aren't just digital status symbols; they're also important parts of a digital economy that's changing quickly within the Web3 environment as a whole.
The Drop: In this constantly shifting journey, whether bearish or bullish, we remain collectively invested. The future of NFTs is undoubtedly exciting, and the direction we're heading next is ripe for exploration and discussion. As always stay educated and practice risk management.
Sega x Double Jump: Blockchain Card Game
Back in September of last year, Sega, known for its Sega Genesis console, has been a player in the video game entertainment space since the beginning of time. Starting with hardware, they encapsulated video games under one roof. And since 2001, they have been solely focused on development, disbanding their hardware department altogether. With partnerships and acquisitions, Sega has continued to create and innovate in the industry, including its newest partnership with Double Jump, a Tokyo-based “venture-backed Web3 game developer”, to create Battle of Three Kingdoms.
This 2-person card-based game is planned to be released sometime this year, with September being a firm target. The game will also be run on the Oasys blockchain, which touts itself as being the “blockchain for games”. Oasys will ensure zero-gas-fee transactions, thus creating more seamlessness for gamers and further growing the Web3/Web2 integration matrix. We don’t know how NFTs will fit in the mix just yet, but we expect them to be a part of this “matrix”.
The Drop: When market sectors plummet, sentiment plummets alongside. But when you see Godfathers of an industry come out and say how they’re still building despite the market’s best efforts to discourage them, you start to see light at the end of the tunnel. With a giant such as Sega still interested in blockchain gaming and transacting, we can be sure that there are others lurking, but they’re quiet. Wait until the bull market. They’ll come from the depths to show us what they’ve been building all along. WAGMI.
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