GM digital art lovers,

It’s Tuesday, and so time for your weekly digital collectible round-up.

Things are looking a little….turbulent…in the NFT space. The space is down bad right now, but there are still some who have faith.

Let’s unpack it.

📈📉7 Day Floor Price Chart

Market Movements: People are pouring back in to the WoW community, through buying WoW and/or WoW galaxy - and look at what it’s done to the floor price! 👏👏

🌚Full Moons -

95% Of NFT’s Are Dead (It’s So Over)

In the wake of the NFT frenzy, a staggering 95% of digital-asset collections have plummeted to zero in value, as per a recent report from cryptocurrency analysis platform dappGambl.

Out of 73,257 NFT collections examined, a whopping 69,795 had no market value in Ether. That means around 23 million folks are holding virtually worthless digital items.

• Surprisingly, only 21% of NFT collections studied had sold out, leaving the rest with unsold inventory. The study highlights the turbulent times NFTs have faced, with lawsuits, federal charges, and platform woes.

• Nevertheless, NFTs may potentially rebound, but they need to offer more than pricey digital art to stay relevant.

Some NFT companies are shifting into AI, with Afterparty raising $5 million for an AI-messaging project, and LimeWire acquiring an AI-powered artwork generator.

Or… IS IT? Whale Buys $8 Million Worth Of NFTs!

Ethereum's price slipped below $1,600, but a crypto whale, "0xb154," made moves worth over $8.1 million by shifting coins from Binance to a non-custodial wallet.

When crypto prices drop, people often move their assets from non-custodial wallets to centralized exchanges.

• This move, despite market fluctuations, signals strong confidence in ETH and the Ethereum ecosystem.

• We're not sure why the whale made this shift, but it's worth noting that ETH has dropped about 4% since its recent high in September.

The whale has a history of moving funds and actively collecting NFTs even during a shaky crypto market, showing resilience amidst uncertainty.

OpenSea Is Hacked…Again (Bottom Signal amirite?)

OpenSea, a major NFT marketplace, faced another hack, with API keys potentially compromised; they urged users to replace keys expiring on Oct. 2.
(If you’re STILL buying NFTs, beware of scams and frauds).

• This incident isn't the first, as OpenSea grappled with phishing attacks in February 2022 and email leaks in June 2022. Security experts emphasize the importance of key rotation.

• Coincidentally, crypto analytics vendor Nansen also reported a breach, advising password changes.

While crypto-related attacks are on the rise, they're partly linked to a LastPass breach from late 2022, resulting in the theft of over $35 million in crypto assets.

OpenSea's market share has declined to about a third of NFT trading volume. Sad, sad days, indeed.

🔭The Scope

The Crypto market is moving up, down, sideways, and all sorts of directions, but will NFTs make the comeback they deserve? The next bull run will be fatally decisive for NFTs and how “early” we really are.

🌓Half Moons

- Bitcoin's network is facing record-high congestion with a whopping 393,000 unconfirmed transactions, mainly due to the rising popularity of blockchain inscriptions, which act like NFTs and clog up the "waiting room" for transactions, causing fees to surge; experts debate the delicate balance between high fees and decentralized security, with some predicting potential payment frauds in the future.

- Marfa, Texas is about to transform into an epicenter of art and tech magic from September 21st to 24th, 2023, with ArtBlocks.io hosting Marfa Art Weekend, featuring NFT and generative art, immersive installations, panel discussions, and even naked-eye constellation tours under the starry Texas sky – it's a creative fusion you won't want to miss!

- Get ready for history in the making as PROOF's iconic Moonbirds, featuring their signature "Space Helmet" trait, are set to journey to the moon in an indestructible time capsule alongside a stellar collection of digital art, music, and more, all aboard a SpaceX Falcon 9 Rocket launching on November 15th in Florida, with lucky "Space Helmet" Moonbird holders getting VIP access to witness the blast-off and more!

🔭The Scope

The silver lining in the bear market is that we’re still seeing positive on-ground movements and events. Especially with Moonbirds’ latest SpaceX onboarding - this sets the groundwork for cutting edge tech on Earth’s favorite satellite, marking a (sort of) permanency and optimistic view of the NFT industry!

⚪Total Eclipse

💫Shooting Star

This week’s shooting star is Laura Santiago

Laura Santiago is a Graphic Designer, Illustrator and NFT Artist. She describes herself as ‘just a latina artist chasing a dream while drinking iced coffee!’
This piece is “The spiritual xolo”. The spiritual xolo is an invitation to rediscover our roots, embrace our culture, and highlight the beauty of our traditions. The past has left us a beautiful blue print that we cannot forget.

🌚Dark Side of the Meme