Latest Web3 & Crypto Weekly News Summary

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Ralph Chua is a publisher. He is passionate about NFTs and blockchain technology. This website is curated with content from his favorite source of information. He created this website with the intention to stay up to date with the ever-evolving and groundbreaking NFT industry.

Doing it so that's it guys then we did See that Moon birds and proof are down Even further Um after I did get quite a lot of Comments you know about two or three Weeks ago Um there was news that you know they Said at the beginning of 2025 so in less Than two years time uh in one of their Town Halls Um they said that they will no longer be Giving anything or or no longer be Forced to give anything to proof holders Um so basically putting an expiry date On Um utility right and now we've seen that They've canceled their um And they have canceled their conference They were going to have the the Conference and a lot of people were Really looking forward to that remember Proof and moon Birds was very much an Ecosystem about Um getting to know other people Networking uh community of of high-end People that are good contacts and things To have right Um And so on and so forth so we've seen Here that they've canceled that Um Kevin has apologized but he says that He won't be having it they that there Wasn't much demand for their conference Now there were a lot of things here

First of all they were charging an Absolute Fortune for the ticket even if You held uh an asset from the ecosystem You there was a charge even though it Was slightly less Um but you know the truth is is that I Don't know what's happened to Kevin I Mean we do know that I've got my own Feelings on the matter I much had to Bring down anyone my my pure thing is to Say how I feel my loyalty lies with the Viewers and I have no real favor of Anyone in the space Um which is a nice position to be in I Don't know anyone anything and I'm happy To say how I feel my inkling my inkling We know that Kevin's uh got hacked for a Huge amount of money like millions of Dollars we lost a Fortune of nfts Um about a month or two ago and since Then he sort of seems like he's not Interested I think he's and I can Understand this I think that he's fed up With the space I mean can you imagine Building two million dollar portfolio of Assets Right anyone watching this believes in NFC is an asset a lot of people in the World don't but and all of a sudden in One click having it completely stolen From you years of of building up a Portfolio can you imagine that happened With your stock portfolio or if you went Into your bank account and overnight

There was nothing there Um and it was taken from you with no Recourse right you'd be pissed off with That bank or you'd be pissed off with The stock market or whatever and and I Think that's what happened here I think He wants out I think he wants out of the Space Um and and we've seen a couple of things Since that happened so the first thing Was like I said in putting an expiry Date even though there was no mention on That before the second thing now we're Seeing is one of their biggest things That their conference has been canceled Officially canceled and the third thing That we saw is that they were looking For someone now to take over um some of Kevin's roles and they actively looking For people to run certain things in Discord and and the public side of it Which all says to me is someone who's Trying to take a step back right but I Mean people are really really upset I Mean this guy had a moon bird tattooed On his arm and he's saying that's the Only thing permanent that he's going to Have left of the whole thing and you can Understand why here they will promise Certain things Um the conference was one of them and Unilaterally that's been taken away it Reminds me of the same way that they did It to be very blunt with the CCO in the

Very very beginning Moon Birds on their Website when you bought one said that You have the rights to that image and Unilaterally he himself went and said oh Sorry we've made it not sorry we've Decided to make it CCO meaning all of a Sudden this picture that I thought was Just mine can be on any Chinese clothing Brand or anywhere anyone can use it and I have as the owner of this image have No right on it Um and for me that was when I got out of The ecosystem and those who were Following me then would have known Um you know and I I adapted and sit well With me but so we've seen this continue Just canceling things unilaterally Um and yeah definitely going as the as The thumbnail says from bad to worse in The in the proof ecosystem unfortunately Or from Bad News to Good News we've got Patchy Penguins who are making All the Right Moves we saw that they sitting at Five and a half ethereum they're sitting Higher than Doodles at the moment There's nothing higher than cloned X Which is absolutely incredible so the Latest news the latest Catalyst of a Whole lot of Um different catalysts that Luca Mets Their new founder of the last year has Has had is that they will be launching Um using retail Monster Who's got a huge Experience in in her toys and and

Physical Collectibles and they've partnered with Retail monster let's play this video To be able to give patchy penguins Toys into toy stores Um similar to what we've seen with three Friends you know with v friends using Their IP Um to create merchandise and toys Um and really build a brand around And we're now seeing the exact same Thing happening over here which is great To see Really really bullish and really good And we have seen that the flow price has Increased since then and they're going On to say with a network expanding major Retailers and representing Brands like Disney and DreamWorks we're ecstatic That retail monster will be on this Journey with us Um help us make patchy Penguins into a Household name and really bringing the Pagit penguin IP to the masses freestyle Retail monster will also serve as our Licensing agent and will provide pudgy Penguins as licensing opportunities Um for the extensive connections of World-class Brands bringing more and More of your payments to life if you Want to learn more about it you can go To their website and if you jump on Their website over here here you see Retail monster I know you can see some

Of the brands that they represent Corona You choose gearbox Emoji Electronic art and so on and so forth It's a really bullish really good to see And I think it's you know anytime a Brand or company or nft project in this Case these where their strengths are Versus their weaknesses and says you Know what we aren't in the toy game but We want to be in the toy game Let's Partner with a massive name in the space A retail partner who's got huge Experience and Connections in retail Stores and building Brands and iprs Let's partner with them and let them run With it on that side obviously we will Have our own guidance and our way of Doing it and let's partner with them That's not our strength let's focus on Our strengths and I do think that that's Really important and for any any company To do Um nft or otherwise and it's good to see Patchy Penguins has done that Um you know we did see with cool cats Trying to become a gaming company that Hasn't worked for them to date and it Would have been much more bullish like They have done now is to partner with a Gaming company which they have done Recently but they try to do it on their Own for you Um whereas party payments from the Beginning look we're not doing our merch

We're not we're not you know retail am Hey the experience in retail we're going To partner with retail monsters in order To do that so yeah I think that's cool And we've seen the floor price see make A big change as a result of that Something else that I found really Interesting so we've got um the Titanic We all know that movie I mean I don't Know maybe just me because of my age but When I was I think about 15 or 16 the Titanic came out and it was the biggest Movie that everyone spoke about and Watched him whatever either way before The movie there was a ship called the Titanic Um a beautiful ship the biggest and best Of its type that hits our Iceberg and Sunk just to give you guys a bit of Background well now they've come and They've got some real life artifacts From the real Titanic that are left Um you know things that were found in The Shipwreck and they are going to be Minting those artifacts as nfts and Launching a collection of 5 555. Um so that's really really cool Um to see that you know that there's a Use case for nft technology it's not the First time that we've seen physical Items being linked to nfts and you know We have seen that at various times I Mean famously with with Nike with the American shoes and but also a lot of

I've seen it with alcohol companies Um you know that that your nft Represents a small ownership in a very Expensive bottle of whatever vintage Wine or whatever it may be maybe not the First Um but definitely quite cool to see that They're doing that and so here's the Summary of it Eventually small Finance Holdings will Structure the tokenization of the IP Link to the artifacts nfts will be Offered to accredited investors to fund Ongoing research preservation recovery Licensing and exhibition of the assets Holding an nft will offer you exclusive Benefits including asset access to Seminars with historians vrp events and Exhibitions it will also provide a means To interact digitally with other rmsd Content beyond that they're still Planning a Titanic Dao to welcome Members to the community and get their Input as well Um so yeah definitely going into work Three quite big and uh yeah very good to See I'd like to see it In some not so bullish news we've got a Federal judge ruling that NBA top shots Is or was indeed a security now this is A landmark ruling and you know we're Still being so new to the space unsure Of what the legislation is around them Are nft securities or not

Um are in a teas that have a token Launched with them or alongside them and More Social Securities or not we really Don't know and we're waiting for Guidance we're waiting for case law to Really see whether they are or not So here we know that NBA top shark was On the flow blockchain Now the blockchain was or is a private Blockchain by Dapper Labs Um and it's now been ruled by this Federal judge that um NBA top shock was In the nfts themselves were indeed Securities Um So yes I mean this is not great for the Space I'm not sure whether they can Appeal this or not so I'm not sure how High it's gone or not Um but the investors claim that under Federal law the nfts do constitute Security and the court found that Top Shot moment nfts constituted an Investment contract and therefore our Securities also furthermore according to The court dependabs has devised a plan In which they're guaranteed investors Profits the profits were guaranteed in Adverted Commerce by selling nft packs At lower prices and advertising the Significant profits made by others Through the sale of the nfts on top of Labs Dapper labs and Marketplace and They quote further said that investors

Depended on Dr adapan Maps managerial Efforts to develop a Marketplace and Maintain the blockchain of course the Nfts would not exist without these Efforts How did dapper Labs react Dapper Labs Argued that NBA Topshop nfts were not Securities as the buyer controlled their Own portfolio so the buyer made the Decision over which electives to buy and Trade and when still the court rejected This argument as that the labs have Control over it because it's their own Blockchain what does this mean for nfts As I said it's a significant ruling for The nft space because private Blockchains have become the most popular For businesses and this ruling shows That there are potential risks private Blockchains oppose security risks for Fundraising and issuing off tokens and Companies offering nfts need to consider Whether they're offering will be subject To security laws finally the ruling Highlights the need to comply with Security doors when offering tokens on a Private blockchain So yeah I mean again the early guys and This sort of stuff does need to be Hashed out and we need to know you know Whether or not it will be considered a Security or not and what makes it Considered a security and how we do have A lot of that we see that because it was

Their own blockchain their own private Blockchain Um and Marketplace that there was tokens Released to them that that that there Was the promise of a future reward at a Higher price than what you paid all of These things made into security I think It does it does give a lot of people Insight into the way that the courts Will look at this and it will help Projects to be able to say okay you know What let's not launch it with our own Token or let's not launch it on our own Marketplace or whatever it may be Um or private blockchain but to avoid it Being a security or let's just comply With it as a security you know it's okay If something's a security you just have To follow security law with it and make Sure that it's adhered to yes there's More rare tape but that's okay so you Know just know what you're dealing with And decide accordingly so yeah we're Definitely learning as we go along Another person learning is the YouTube Has got a new CEO and but the nice thing Is that Neil Mohan is a big nft bull he He has previously outlined potential use Cases for nfts on the leading uh video Platform YouTube Um which we've said for a very very long Time I mean I've got videos dating back Over a year saying how amazing Blockchain technology would be for

YouTube you can even search it on my on My uh on my website it's nice to see That he agrees Um and also for music We you know I've Been saying that for a very long time Because we all know that when music went From CVS to mp3s and you know artists Lost out on their royalty similar to What we've seen now with the nft Um artists including out on their Royalties but the blockchain really can Solve that you know with music Um if it's written into the contract Then every single time that song or Video is played that the Creator gets a Percentage and that's in the contract of The smart contract there's no way that Every time it's played that someone Won't get that right as long as that Small contract is written properly Um and and airtight then that that would Solve the piracy in the video and music Industry so yeah very interesting to see We know that Susan who served as Youtube CEO for 25 years and has done incredibly Well in building a massive Media Company Um but then arguably well you know it's Taken over mainstream media and and even If you don't agree has done that yet it Will do in the next 10 to 15 years for Sure Um has now stepped aside Um and yeah we now have Neil Mohan Um coming in and it's just nice to see

That he is bullish on nfts Um and that he does need the use case And understands the technology which is Really cool and nice All right guys well that pretty much Covers

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