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Here is the breakdown of today's newsletter:

• Yesterday was “Bitcoin Pizza Day”. On this same day in 2011, someone bought pizza with 10,000 bitcoin or approximately $273,711,000 USD at the time of writing.

• Pudgy Penguins’ toy sales go insane on Amazon over the weekend - they completely sell out. (DC)

• DeadFellaz NFT owners can now use their avatars in twitch streams. (DC)

• Singaporean cryptocurrency hedge fund Three Arrows Capital’s (3AC) nonfungible tokens (NFT) collection fetched $2.5 million at its conclusion on May 19. (CT)

• There was a 100 ETH BAYC sale over the weekend. Check it out here.

• BLUR’s lending platform “Blend” has surpassed 100,000 ETH in volume or around $181 million in just a couple weeks since launch. Check out this graphic below:

  

VeeCon For The Win 🏆

Last week thousands of web3 enthusiasts flocked to Indianapolis Lucas Oil Stadium for the 2nd annual VeeCon. Although Gary Vee is predominantly focused on web3 these days, the conference encompassed tech, business, marketing, and everything in between.

As you may have guessed, the conference attendance was via NFT-based ticketing (VeeFriend holders) and over 5,000 attendees arrived.

Here are some of the big-name celebs that were at VeeCon

• Tim Tebow

• Randi Zuckerburg

• Daymond John

• Jessica Alba

• Luca Netz

• Andrew Shultz

Here is an excellent vlog made by @jennifer_sutto of what the event looked like:

Gary Vee sat down with CoinTelegraph and talked about what’s in store for VeeCon 2024:

“We will continue to expand this pop culture business conference grounded in innovation, marketing and motivation. We will continue learning from what we did in previous years, and hopefully keep bringing positive and practical optimism. Also, I don’t think that VeeCon 2024 will be held in Indianapolis again since I like the idea of moving the conference to new cities.”
- Gary V.

NFTs Bouncing Back 📈

The NFT space has been on a roller coaster, with some significant drops that would make even the bravest hodler’s knees buckle.

Luckily, signs are showing that our beloved NFTs might be coming back.

💡 What happened?

• Last week, the NFT market showed promising recovery signs, with this uptick coinciding with VeeCon, the event that never fails to sprinkle positivity around NFTs.

👀 Some Highlights from the Past Week:

• Pudgy Toys' successful launch, the rise of Bitcoin NFTs, and a remarkable bounce back in unique daily traders.

Here's where it gets interesting:

• The Blur Farmers made a massive dump. Yet the market stood firm, a testament to its increasing resilience.

• Farmers offloaded 350 Doodles, 190 Mutant Apes and 149 Milady, and the market merely yawned.(@punk9059)

🚩 During VeeCon Weekends

We also saw Opepens' ATH sale of 11.3 ETH, a 40% surge in Pudgy Penguins, and a minor market impact from Blur Farmers' big dump.

Is VeeCon the catalyst? Maybe.

Can we anticipate continued resilience? You bet!

💧 The Drop

It’s always important to be aware of the market and where we are, which is why you need to know about NFTs and how they might be coming back. Big sales dumps no longer mean market shake-ups, and the rise in unique traders signifies a maturing market. With all that being said, make sure to always do your research before diving into your favorite NFT.

This thread is definitely worth the read…

Sponsored Content: There is no sponsored content in this newsletter.

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 NFT/web3 news! (@TheDropNFT)

• Ledger Controversy Explained

• Pudgy Penguins Big Raise

• $PEPE Makes Millionaires Overnight

• Sotheby’s NFT Marketplace

• BLUR Launches Lending Platform

• Coinbase Is Suing The SEC

Follow the team:

Gannon Breslin, CryptoVonDoom, Naveed Lalani, Naman Patel, Kouk.eth

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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.