Yuga Lab's naughty list of NFT Marketplaces

GM Baos,

Wishing you a prosperous year of the Rabbit! For those who celebrate, hope you had a wonderful time stuffing your faces and enjoying your red pocket airdrops. 

Not entirely sure what the Year of the Rabbit will entail? Check out this twitter thread for more deets!

Today we cover:

• NFT marketplaces blacklisted by Yuga

• Iran and Russia to issue new stablecoin

• Genesis claims they owe HOW much in bankruptcy filings?!

• ChatGPT > CharacterGPT

NFT marketplaces blacklisted by Yuga

LooksRare, SudoSwap, NFTX and Blur - the blacklist referenced in Yuga's recent NFT game drop, The Sewer Pass.

A Sewer Pass grants access to Yuga's new Dookey Dash interactive skill-based mint and it is the latest and greatest Yuga product. At the time of writing, the NFT sub-collection has already done 15,900ETH volume and sits at a floor price of 1.9ETH.

The drop arrived on the 19th of Jan and the blocked NFT market places embedded in the smart contract reinforced Yuga Lab's stance against creator royalties. Their view is that creatives come first and royalties are a core tenet. 

All of the addresses of these NFT marketplaces have been added to the smart contracts details banning transactions of the game pass. They want the Pass to only be traded on platforms which honour royalties.

On one hand they are supporting creators with royalties but on the other they're causing centralisation onto NFT marketplaces.  

Iran and Russia to issue a stablecoin

Ban Bitcoin and USDT but issue own stablecoin?

Make up your mind...do you want crypto or do you not?!

Traditionally Russia has opposed crypto as a payment method within its country and regulators have been quick to pass bills to stop the use of crypto. However it was recently announced that the Central Bank of Iran is working with the Russian government to issue a new stablecoin backed by real hard gold. 

Being cut out of global trade and access to the USD has proven to cause Russia to revisit it's position.  How do I find a digital asset which enables foreign transactions, replace fiat at lightning speed? Crypto.

Genesis claims they owe HOW much in bankruptcy filings?!

Earlier in the week Genesis filed for Chapter 11 Bankruptcy in New York. They suspended withdrawals, laid off staff, amongst I assume a whole host of internal measures but the liquidity crunch proved to be too much.

Terra/Luna, 3AC, FTX proved to be all too much for the crypt lending firm. Which said it had $5.1 billion of debt towards the end of 2022. Genesis sits within a big conglomerate, Digital Currency Group, whom had parent and sister entities whom themselves were squeezed and unable to honour loans to the three Genesis entities which filed for bankruptcy. 

“The collapse of luna and UST and subsequent liquidation of 3AC signaled the onset of a new ‘crypto winter’ and a growing industry-wide reluctance to do business with digital asset companies,” Islim said.

ChatGPT > CharacterGPT

MyCharacter is bringing AI enabled text-to-character generative NFTs built on Polygon. The user inputs details about appearance, intelligence and context about the character like:

"Bittrex is a Nice Tattoos artist. She specializes in tattooing characters such as superheroes and monsters onto clients' bodies. Her clientele consists mostly of young adults and children. Some of her customers have even commissioned special designs or patterns not seen before!"

But the interesting part is that with continuous interaction, you can evolve the personality and intelligence of the character too it seems. The use cases are as:

• Digital guides

• Digital clone (of celebrities for fans)

• Virtual companions/assistants

• Virtual influencers

Built by Alethea AI, their vision is to enable ownership of AI Characters allowing for owners to invest and evolve their characters to be fit and intelligent in interoperable environments.

Maybe digital Bernie could be 10,000 a better writer than I'll ever be...

Bao-Sized News

Bernie's must read thread of the week: Inclusivity vs Exclusivity

• FTX CEO thinks he could restart operations

• New Jersey will likely pass a law requiring paperwork to sell NFTs

• Financial times reports Peter Thiel sold Bitcoin at the top after holding for 8 years. Wow.

FFC Update

Given it's almost a year since we minted, we absolutely HAVE to celebrate this Lunar New Year with some cute art, and some very exciting updates!

• first off, we're going through some brand chanes for our website & an updated 2023 ideamap for this year to hone in on supporting and amplifying the stories of Asian creators. You'll start seeing this over the next few months!

• Big project behind the scenes to thank all our holders for journeying with us for almost 12 WHOLE MONTHS, WHAT?! did someone say more art?

• STEAM.YOUR.BAOS. hint: you're gonna want to have those baddies in the steamer for our next launch.

• New team members, say hello! We'll be introducing a few old & new friends into our discord over January. We've hired some Baos for marketing & newsletter growth!!!

-QueenBao

🚨 New Job Alert

For y'all looking for a marketing career change into crypto 😉🔗 Head of Marketing @ Flow ($100-110k) 🔗

Made us Kek

Remember when we thought coinbase NFT was going to pump our bags?

The only metaverse I want:

👀👀

Missed your New Year resolutions already? The Lunar New Year gives you a second chance!

Go get 'em Baos.

–Bernie