some bullish JPEG news after a heavy FTX week 🥺

GM Baos,

Crypto is NOT dead. We're still here and building 🙂

We cover:

• FTX court filing revelations

• Azuki X Formula One

• Royal Marketplace 🎶

The FTX saga continues

A round up of FTX court filing revelations...

• FTX used company funds to purchase employee's luxury homes in the Bahamas

• Alameda gave Sam Bankman-Fried (SBF) a $3.3b loan & a $543m loan to Nishad Singh, FTX Director of Engineering

• Alameda was exempt from being liquidated

• BlockFi took out a $250m loan in $FTT (FTX's token)

• Bahamas regulators ordered SBF to hack FTX & transfer company assets to the government???

This saga never ends. At your own risk, read more shocking findings in this Twitter thread 🥲⬇️

Azuki, Bybit, Tezos and Red Bull Racing

Woah, Azuki is the first blue-chip NFT on a Formula One racecar — or on any racecar 🥲

Lei the Lightning Azuki (#8494) will be featured on two F1 race cars driven by Max Verstappen and Sergio Pérez, during the 2022 Abu Dhabi Grand Prix. Bybit, who has been a principal team partner since February 2022, will have their logo next to the NFT.

There will also be a limited edition front-facing version of Azuki #8494 that Bybit users can claim. 8,494 NFTs will be minted (FREE) on the Tezos blockchain and available through Bybit's NFT marketplace.

"The nature of our sport means we are always pushing boundaries, and to be the first to put a blue-chip NFT on a F1 car is a tremendous feat. Our partnership with Bybit and Azuki has been an ideal way to help us explore the Web3 world. In many ways, it's been an eye opener for us to the vast opportunities Web3 has to offer.

“This unique project is the perfect combination of creativity, innovation, and passion which matches our ethos on the track." — Christian Horner, Team Principal and CEO, Oracle Red Bull Racing.

What better way to close out the 2022 season!? I'm excited to see how Lei the Lightning Azuki's story will unfold in the 2023 F1 season.

3LAU's Royal Marketplace 🎶

Royal Marketplace is live!

What is Royal? Founded by 3LAU (Justin Blau), Royal Marketplace is a music rights marketplace. It's a place where you can discover, invest in and trade music. Their stream data is updated often and taken from Spotify, Apple Music, Prime Music, Tidal and Soundcloud Premium.

Last year they raised $16m in its seed funding round, then another $55m in funding from Andreessen Horowitz, Coinbase Ventures and Paradigm.

Interestingly, Royal's goal is to be non-crypto native friendly. They are building specifically for all the new users of crypto.

Justin Blau told Decrypt, "The reason why we built our own is because we felt that a lot of music fans don't know how to set up a wallet. We basically set up a way for everybody to pay and trade in dollars. So if you've never used crypto before, and you sign up for Royal, we generate a wallet for you".

How does Royal work? When you discover an artist you like, you can buy a song or album from them and earn royalties from each stream. The more streams, the more you earn.

Buying a token from The Chainsmokers album So Far So Good Album earns 0.0002% royalties and comes with additional perks like Discord access and Ongoing surprises (exclusive content, secret drops, merchandise and IRL experiences).

I've been a beeg Chainsmokers fan for as long as I can remember. Now you're saying I can own a piece of their music while supporting them!? I'm in 🙋‍♀️

Bao-Sized News

• Tom Brady & several other celebrities who promoted FTX face a class action lawsuit

• Justin Bieber's $1.3m BAYC NFT is now worth $69k 🙃

• El Salvador President says they're buying one Bitcoin a day

• Coachella NFTs are stuck on FTX 😬

Made us Kek

Have an amazing weekend 💙

–Cassidy