Renga Is Leading The NFT Charts

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!

gm, today our partners at XQUI has their allowlist sale at 11 AM, tomorrow the public sale goes live! Check out all the details here. 

• Manga veteran Junji Ito steps into the future with the very exciting Web3 platform ANIMETA. (TOMIEbyJunjilto)

• A groundbreaking web3 experience: Monuverse is bringing the world's iconic monuments to web3. Check it out here.

• Renowned street artist Banksy will be releasing some of their famous work in NFT form. (MP)

• Beeple pays homage to @zachxbt for exposing all the scammers in the space with this beautiful piece that you can see here.

• Kim Kardashian has been charged $1.26 Million by the SEC for promoting EthereumMax (a classic "pump and dump") while withholding the info that she was paid to do so. (SEC)

• A telecom company in Spain called Telefónica may be onboarding thousands of residents in the country as they collab with some big names in crypto. (DT)

• Coralcube announces that instant buy from Magic Eden is back. Degens can now buy Magic Eden listings without any redirects. (coralcubenft)

• The parent company of T-mobile is making Ethereum Staking available to customers in the coming future as they launch Ethereum Validator. (DT)

• Taiyo Robotics crossed $55M GMV on Taiyo/Solport products after mint, aims to finish 2023 with over $1 billion GMV. (Taiyorobotics)

• Artist Blake Kathryn collabs with K-pop group Aespa for the upcoming NFT collection æ girls. (HR)

RENGA On The Rise 📈

The time has come for a new blue chip project to ascend to the throne in the space, and the RENGA project is attempting to take that seat at the winner's table. With volume rising heavily over this past weekend alongside the floor itself, we’re seeing the entire NFT market fall in love with the vision and future potential of this project.

To begin, what is a RENGA? 

In Japan, a renga is defined as a poem that utilizes alternating sections from different individuals, meaning that a poem is created by 2 or more people. The RENGA team created the collection as if 2 people were creating them. No two NFTs are alike, or even come close to being alike. With over 35 trait classifications, this NFT project might be one of the most intricate we’ve seen when it comes to aesthetics, especially in this bear market cycle filled with low-effort Fiverr projects. From BAYC members to average NFT traders, once you start digging through the traits, you get lost in the complexity and originality of the art. 

💡 Some wise words from Zeneca:

This space is all about calculated risks and probabilistic thinking. Every single person's financial situation is going to be different. Some people can afford to hold an NFT from 0.1 to 5 ETH. Others can't, and it's a terrible decision for them to *not* sell at 0.5 eth.

What have we seen in the past week? The RENGA PFPs have skyrocketed to a price of 2.82 ETH (at the time of writing), peaking at around the 3.5 ETH level. Keep in mind, this includes multiple sales outside of the floor price level, bringing the total listing count to 1,667 (21%).

The RENGA Black Box, which needs to be opened in order to reveal a RENGA PFP, is sitting at a price of 5.18 ETH (at the time of writing) with only 136 listed (6%), and they continue to climb. This is because no one knows what RENGA they will reveal. This is what RENGA is all about. Linking it back to the history of poetry, minting a PFP requires 2 people: the team to release the boxes and the holder to open the box. Time will tell if this project continues to thrive, or dwindles down the failed project mountain. The entire market is watching, including the other blue chip communities that this project wants to be aligned and positioned with. WAGMI.

XQUI Genesis Drop TODAY 🔥

You can join The XQUI Club if you have acquired one of the 6,000 utility-enabled PFPs. All of this begins with unique NFT drops, community events (workshops, mastermind meetings, and other entertainment events), access to the project proposal accelerator, and priceless access to the XQUI DAO, which makes early-stage cryptocurrency investment decisions.

🚨 Mint site: https://mint.xqui.io/

Allowlist Mint: 10/4/22, 1000 allocation size, 11:00 AM EST, 0.08 ETH, 3 per wallet

Public Sale: 10/5/222, 4500 allocation size, 11:00 AM EST, 0.12 ETH, 10 per wallet

NFTs Enter Congress ⚖️

Senator Bill Hagerty of Tennessee is introducing legislation, that if passed, will help protect digital assets and their champions from wanton regulatory oversight. According to Hagerty, the regulatory ambiguity that surrounds the world of digital assets in the United States discourages domestic innovation and leadership in the space. He fears that the lack of explicit clarity around digital assets in America leads to people setting up shops in alternate locations that are far more clear and concise about what freedoms one can expect when pursuing digital asset development.

💡 What is the Clarity Act?

Functionally the Clarity Act would operate as a buffer between the allegations that the SEC throws at a particular coin for being an unregistered security and the exchange that has the coin listed from suffering because of those allegations.

📸 Picture this:

Imagine that tomorrow the SEC says “Hey Tokenbase, we notice you have Purplecoin listed, this coin is actually an unregistered security so now you are going to be subject to our legal apparatus and a bunch of consequences that you totally were not anticipating but that will cause you upheaval, unrest, and inconvenience.”

With Hagerty’s bill, Tokenbase would actually have a two-year grace period to demonstrate that the coin is not a security and the exchange would not be subject to any of the immediate legal action that it would be otherwise. This bill would be a breath of fresh air for exchanges that are situated in the U.S. because their operations would not be subject to friction every time the SEC decided to display authority and power over the decentralized landscape. Currently, the odds are against the bill passing, but Hagerty’s initiative will set some significant precedent for other lawmakers to be inspired by.

Star Atlas & Epic Games Launch Pre-Alpha Demo 🚀

Star Atlas, the highly anticipated Solana NFT-based game during their second community-focused live event has given players something to hold on to by releasing a limited demo version on the Epic Game Store. Although it will take longer before the triple-A blockchain game entirely unfolds, the demo version lets Star Atlas NFT owners explore a 3D environment and view the ships and vehicles in which they've invested in.

With the Star Atlas: Showroom / Pre-Alpha Gameplay Demo being the headline, a series of other updates like ATLAS Locking, Foundation Software Development Kit, and Star Atlas Core were announced during the live event as well.

The Showroom a handcrafted Metaverse features a real-time Unreal Engine 5 (UE5) game environment and is the first glimpse into what players can look forward to in Star Atlas. The full showroom with expanded functionality will be heading for release in this year's fourth quarter. With this, holders can obtain an access key to the Pre-Alpha demo by joining the Star Atlas metaverse, selecting a faction, choosing their ship, and enrolling it in their faction’s fleet to be eligible for a key.

The Foundation Software Development Kit (F-KIT) is a fully open-source SDK tool available to any developer worldwide. It is designed to lead an entirely new generation of entertainment and facilitate the mass adoption of web3 gaming.

*gm version*

Sponsored Content: XQUI and Monuverse is a partner of The Drop.

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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. 

Follow the team: 

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

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