is ETH giga mooning?

GM Baos.

We’re over the moon today since ETH is too. Not sure about you, but I sold some ETH at $1,200 but am thinking about buying in again now. A little buy-high sell-low action?

PSHK, invite a fren to subscribe to the newsletter. You might get something special 😉

Today we cover:

• Polygon NFTs winning big deals

• Premint compromised

• Our First Trip

• 🌟 Special Giveaway for 5x WLs – Katatonik 🌟

The world of Polygon NFTs

Are we missing some alpha here? 🧐

I’m 90% certain no one in our team has traded a Polygon NFT before, but big brands are placing their bets.

Disney, Reddit, Coca-Cola, Stripe and more companies are choosing to build on Polygon.

Why Polygon (MATIC)?

• Gas is usually below US$0.01.

• Faster transactions at around 2.3 seconds. It’s a layer 2 blockchain so it doesn’t suffer from network congestion ☠️

• Sustainability commitments. According to Reddit's press release.

On that note, I did some digging. Here’s a comparison of ETH vs. Polygon NFT volume over the last 7 days.

I was surprised by the difference. Despite ETH having only 20x the traders, it has 100x the volume.

It’ll be interesting to see how this changes with big companies launching their collection on Polygon and how we can purchase them 👀

Premint website compromised 😔

It’s an unfortunate week for Premint NFT.

If you’ve joined a raffle to win a free mint, you’ve probably used Premint to register & qualify your wallet.

How it went down

1. There was a malicious JavaScript code injected into premint.xyz

2. A file was compromised and it caused users to download the hacker’s script and run itself

3. Users were asked to “SET APPROVAL FOR ALL”

4. 314 NFTs were stolen amongst top blue-chips, approximately $375K.

A more detailed Tweet thread here by meow.eth.

How to avoid this:

✅ Read over our wallet signatures. “SET APPROVAL FOR ALL” can be dangerous if given approval to the wrong sites!

✅ Only use OpenSea/LooksRare/NFT Marketplaces

✅ Move valuable assets to a cold wallet that has not connected to anything prior

✅ If you’re concerned about being compromised, use revoke.cash OR https://etherscan.io/tokenapprovalchecker

❌ Don’t sign transactions on Random Websites

Stay safe Baos!

Otherside’s First Trip 🤯

Wow.

4,500 people got to experience this trippy, Fortnite-like event on a web browser with zero lag.

Here, watch some videos so you can enjoy this experience the same way I did 😂

With the success from the launch so far, this has truly brought the metaverse worlds closer. Soon we can all jump into a 3D world on our browsers, play games with our NFTs as avatars, and pay some $APE to grab a drink together 😱

Special Giveaway: Katatonik 😻

Katatonik NFTs are beautifully designed avatars, perfect for you to venture with into the Metaverse. They are launching a 10,000 collection with a mint cap of 1 per wallet.

Katatonik is minting 22 July 2022.

Run by an incredible team

The project is run by DreamWorks Head of Animation & Animation Chair. It’s the very same team that worked on Kung-Fu Panda, The Croods, How To Train Your Dragon and the highly anticipated new movie – The Bad Guys.

This Hollywood team works alongside Neko Productions - an all woman production company that is well-known and experienced with working with Universal Studios, Sega, Avengers Academy, AR/VR projects and more.

What are they building?

Katatonik has secured some epic partnerships…

• ST6 | Discord Admins and Advisory for Adidas, Prada, Admit0001 and Katatonik

• XBO.COM | Exchange platform that implements the latest security practices to allow for faster onboarding and login, while protecting investors’ independence

• Metakicks by Sneakmart | Official sneaker providers for Katatonik

• MultiNFT | Launched in 2018, MultiNFT is one of the founding members of the metaverse clubbing revolution

Media highlights

Check Kosherplug and BentoBoi talk about why they like the project.

Socials

Twitter, Discord, All Other Links

Bao-sized news

• ETH merge date – September 19. Momentum has driven up the ETH price today with this new announcement. Is this a bull trap?

• Meta begins testing ETH and Polygon NFTs on Facebook. This follows Instagram’s launch of trading digital collectibles since May this year.

• Zhu Su, Co-Founder of 3AC, has filed a $5mn claim against his own company. The total value of all the claims so far amount to a whopping $2.8bn.

• Punk #4156 sold for 2,691 ETH. The seller is up 191 ETH on his ape-punk, but down $7mn on paper. It could have some sweet tax benefits though…

Interesting Notes on ETH

Looking at ETH at the time of this writing, it's moved nearly 41% from July 13 to July 17th. This type of move has speculated that some fiat money is being moved around for a “particular reason” while others believe this is the start of a bull run…

However, taking a look at a larger timescale, we can see that the massive 36% drop occurred back in June 10th. We would definitely need to break this supply/resistance zone before we see any type of bull run!

I hope you had or will have a wonderful Monday. I'm gonna crash now, peace out ✌️

–Lili