Where dreams come true & kingdoms fall

GM Baos.

This was a fun one to write, and I hope you’ll enjoy the read!

First off, is anyone surprised about Polygon NFT’s growing relevance? I’ve never traded Polygon NFTs before but I think I’m missing out… have you? 😱 I digress 😂

Today we cover:

• Disney’s NFT plays

• Magic Eden launches their fund to invest in Web3 Gaming

• Struggle street at Celsius

• Cute video of FFC at NFTNYC 💙

Disney’s big moves into Web3

Disney continues to dive into Web3 since releasing its own digital collectibles on VeVe (powered by Immutable X). They have announced and launched their Accelerator program, with six Web3 companies selected in the first round.

Why is this noteworthy? Because the early-stage businesses selected for a BigTech’s accelerator often reveal the future bets a company is making for its core business.

For this round of investments, Disney has highlighted a focus on augmented reality (AR), artificial intelligence (AI), and NFTs.

Here are the Web3 companies they’ve selected (link to Tweet):

• Flickpay (@flickplayapp) – A Web3 social app where users create AR videos using their own NFTs.

• Inworld (@inworld_ai) – A developer platform for creating AI-powered virtual characters for use in the metaverse, VR/AR, games, and virtual worlds.

• Obsess (@obsessVR) – An e-commerce platform which creates virtual stores. Currently powering brands such as Coach, Fendi, AT&T, Mattel, NBC, Jared, and more.

• Polygon (@0xPolygon) – Blockchain company which is the most widely used ETH Layer 2 for NFTs.

• Red 6 (@red6ar) – An AR company which created a patented AR headset used for air combat training more realistic than existing flight simulators.

• Lockerverse – Not much info available, but its described as “a Web3 platform that empowers creators and brands to tell culture-defining stories and deliver unique access and experiences”

What do they get?

• investment capital

• co-working space at Disney’s Los Angeles creative campus

• direct access to a suite of Disney executives, business leaders and creative talent

🎮 Magic Ventures for Web3 Games!

A big day for Solana NFTs.

Magic Eden - the largest Solana NFT marketplace - announced Magic Ventures to the world. This fund invests in Web3 gaming and aims to onboard developers into the ME ecosystem.

(Magic Eden founders)

Pretty damn cool.

Why is this huge news? Magic Eden…

💰 accounts for 90% of NFTs sold on Solana😱 recently raised $130 million in funding that values the company at $1.6 billion🚀 has a NFT launchpad for minting and launching projects without in-house developers🎉 is launching wallet solutions, game marketplace & future cross-chains solutions

The world of NFTs is truly limitless. We are still so early in the world of NFT gaming - and it’s fascinating to see the direction ME has taken with their amount of cash to spend and market position.

Celsius’ whopping $1.2bn hole

Uh oh. It finally happened…

Celsius filed for bankruptcy and this creates questions about whether the 100,000 creditors will ever get their money back.

In its filing Celsius claimed that “the Company made what, in hindsight , proved to be certain poor asset deployment decisions. Some of these deployment activities took time to unwind, and left the Company with disproportional liabilities when measured against the unprecedented market declines”.

There are still a handful of multi-million dollar loans that Celsius owes. We’re assuming these debts won’t be paid 🥺

Will there be another big crypto fund that will fall?

Bite-sized news

• Tony Hawk is building the largest skatepark in the metaverse. In partnership with The Sandbox and Autograph, users will be able to create their own skatepark and play games to earn NFTs.

• OpenSea lays off 20% of their workforce. It's because of “crypto winter & broad macroeconomic instability”. Employees receive a generous severance, health coverage in '23 & accelerated equity vesting 😱

• Nina's Super Cool World Drop by GODA is sold out! She's a world renowned painter best known for her use of bright colours. Holders get access to Nina merch, collaborative product releases, airdrops, events & more!

• Awesome commentary on the market and how it might impact ETH prices. CPI, earnings & GDP – how it will impact the price of ETH over the next month.

• Proof has acqui-hired Divergence. This engineering team helped Kevin Rose launch both Moonbirds & PROOF Collective, their capabilities will be key to bringing PROOF’s long-term vision to life!

Asian Creators doing epic work in Web3

Have you seen this “World of Warcraft Classic - Burning Crusade - Illidan Cosplay Showcase” by Kawin Wu - a fellow bao 🥟

Made us laugh

Fun giveaways

4,000 zombies on the ETH blockchain, a collection that implements digital and physical, where holders can earn by staking and playing 🔥

As always, thanks for tuning in frens. We’re excited to have you on this journey with us as we work towards becoming YOUR daily source of the best NFT news.

PSHK. We have a special release for tomorrow – a nice note from Sherms 💙

–Lili