OpenSea Exec Heading to Prison
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Here is the breakdown of today's newsletter:
🥳 MAYC Miami Party Recap
⚖️ OpenSea Exec Prison Sentence
Artist Ashira launches charitable NFT collection to aid Maui wildfire recovery. (@AshirasArt)
Check out "Botto", the powerful AI bot that creates and mints NFTs. (CD)
Snoop Doggs' Ape Dr. Bombay collabs with Sketchers shoes. (S)
After former President Donald Trump had his mugshot go ultra viral his NFT trading cards skyrocketed over 426% in less than 24 hours. (BT)
Coinbase is getting a minority stake in Circle Internet Financial (often known as just “Circle”) and the companies are dissolving their Centre Consortium partnership that had issued USD Coin (USDC), the world’s second-largest stablecoin. As part of the move, Circle will bring the issuance and governance of USDC fully in-house. (CD)
ICYMI: Last Friday, NFT startup Recur announced that its Web3 platform is shutting down. Despite hosting the NFT IP of several big brands like Hello Kitty and Nickelodeon and a $50 million raise, it was unable to withstand the challenges of crypto winter. (DC)
Hey, OpenSea wanna see something cool? NFT marketplace Rarible has seen a substantial uptick in trading volume over 24 hours following a public statement in support of maintaining NFT creator royalties. (CT)
Photo by @lindseybyrnes
F*CK IT SATURDAY (Recap) 🍾
I think we all know Miami knows how to party and this past weekend once again Bored Ape Yacht Club members (in particular Mutant Apes) put on a party that will be hard to forget … if they remember.
💡 What happened?
In celebration of two years of Mutant Ape Yacht Club, BAYC with the help of Applied Primate and the Mutant Cartel hosted an all-night event at the Oasis Wynnwood in Miami Florida.
Applied Primate kept the potions flowing and comics on hand to be read
Check out the video recap of the event below:
Happy Mutant Monday and thanks to everyone who celebrated 2 years of MAYC with us. Special thanks to @AppliedPrimate, @mutant_cartel, @notthreadguy, and Ferg for throwing a party only fit for Mutants.
— Bored Ape Yacht Club (@BoredApeYC)
Aug 29, 2023
Former OpenSea Exec Prison Sentence ⚖️
Nathaniel Chastain, the former OpenSea exec who got caught trading NFTs with insider knowledge, is going to prison.
💡 Here are the details:
Chastain is sentenced to 3 months in prison
On top of serving time, he has a $50,000 USD and 15.98 ETH fine
He had been accused of purchasing NFTs with the knowledge that they would be soon featured on OpenSea’s homepage - profiting off the massive uptick in price once they were
During the enticing Chastain stated, “I let down the company I was serving and lost sight of the person I aspired to be”.
Hopefully, this is a good reminder to everyone in the industry (investors, founders, and employees) that there are real consequences for your actions and the blockchain never lies!
We love a good recap. Make sure to check this one out!
What happened in the NFT world this week?
Read this 1-minute recap to stay in the loop:
— Moritz (@moritz_web3)
Aug 27, 2023
NFT founders explaining their roadmap
— foobar (@0xfoobar)
Aug 24, 2023
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