NFTs Are Roaring Back

Magic Eden's ETH Marketplace is Live + Pixelmon Token Sells Out Instantly

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


We have almost too much news today so get that coffee mug filled and settle down.

First off, Bitcoin and Ethereum have been on an absolute tear recently with BTC crossing $56,500 USD and ETH crossing $3,200 USD. Naturally, meme coins have followed suit and have skyrocketed in the past 24 hours: PEPE (+52%), THETA (+55%), PYTH (+32%), STX (+26%), BONK (+20%).

Here is the breakdown of today's newsletter:

💧 What’s Dropping In Web3
🚀 Magic Eden ETH Marketplace Is Live
💰 Pixelmon “MON” Token Raises Millions In Presale
📍 Crypto Update
🖼️ Another Banger From DeekayMotion

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  • Doodles: Popular NFT influencer @NFTbark has joined the Doodles team as a consultant and in particular helping develop community and creator strategy. (@NFTbark)

  • Ordinals: There has been a massive pump volume for the top Ordinal projects in the past week. Over $37.3 million in trading volume in the past 7 days for the top 7 projects alone! (@thedropnft)

  • NFT Justice: The two creators of “Undead Apes” and “Undead Lady Apes” are being charged with conspiracy to commit wire fraud and money laundering for their rug pull projects. Rhoden and Nowlin received more than $300,000 in cryptocurrency from hundreds of victims of the rug pull. (IC)

  • MicroStrategy: The company’s X account was hacked and phishing messages were sent out leading to over $440k stolen according to @zachxbt.

  • Christie’s Auction: On March 12th, 400 works from Robert Alice are going up for auction. Who is Robert Alice? He is the first artist to have an NFT sold by the house, predating even the auction of Beeple’s Everydays that sold for a whopping $69.3 million in 2021. (AT)

  • PSG Football Club: French soccer giant Paris Saint-Germain said it will become a network validator for the Chiliz Chain blockchain that hosts its PSG fan tokens, and use the money it generates to buy them back on a regular basis. The Chiliz native token (CHZ) rose by 10% to $0.133 on the news with its market cap rising to $1.15 B This makes PSG the first football (soccer) club to validate a blockchain! (CD)

Magic Eden ETH Marketplace Goes LIVE 🚀

As we have stated numerous times in this publication, the marketplace wars are hot and firing on all cylinders. To make it even more interesting, Yuga Labs announced they are “sunsetting support for marketplaces who don’t support royalties for ALL creators” cough cough Blur marketplace and others.

See the official statement below:

Today they made the official announcement that the marketplace is live.

💡 What’s Different?

  • Enforced royalties

  • Aggregation: Magic Eden wants to be the home of digital collecting on Ethereum. That includes finding all available NFTs in one place such as showing aggregated listings

  • Diamond Rewards: Magic Eden wants to make sure that users are rewarded for supporting creators.

    You can earn Diamonds in three ways:
    1) Making offers on top 100 collections on Magic Eden
    2) Listing top 100 collections natively on Magic Eden (it’s rewarding to be early)
    3)Buying any NFT on Magic Eden (3rd party aggregated listings must be bought on Magic Eden, however buying native listings earn more)

Pixelmon “MON” Token Raises Millions 💰

Remember Kevin? The posterchild Pixelmon turtle NFT that the entire space was posting about for months as the project went down the tubes … well at least everyone thought they were.

The Infamous Kevin Pixelmon NFT

Once deemed a $70 million rug pull, the redemption arc for Pixelmon is starting to get very real.

Animoca, Crunchy Roll, Immutable, Alex Becker, Zeneca, and many other heavy hitters were in the recent $8 million dollar round to hopefully make Pixelmon the premier web3 gaming entity. With this round, they announced MON Protocol ($MON) the token for the Pixelmon gaming ecosystem.

The 62 million coin community presale (6.2% of total MON supply) hit 100% sold in less than 10 minutes and 200% sold out in less than 24 hours...

Truly remarkable, for those curious why there’s so much bullishness surrounding MON and Pixelmon as a whole ⬇️

Here is an excellent breakdown by @nftboi:

  • MicroStrategy: Micahel Saylor has acquired an additional 3,000 BTC for ~$155 million at an average price of $51,813 per BTC. As of 2/25/24, MicroStrategy now hodls 193,000 BTC acquired for ~$6.09 B at an average price of $31,544 per bitcoin.

  • Bitcoin: We are 50 days away from the Bitcoin halving event. If you have no idea how monumental this is, here is an explainer video.

  • Ben Armstrong: Or commonly known as “BitBoy”, won a celebrity boxing match that had the entire space watching. Nevertheless, the space went hard in the paint with memes. Here’s a meme roundup of the best.

It’s simple, we see a DeeKay Motion piece and we share.

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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.