GM and happy Tuesday,

It’s been a difficult week for NFTs, with prison sentences, hacks, low trading and rage-quitting.

Still, it isn’t all bad (we promise).

Let’s take a look.

📈📉No Chart Today Folks, sorry!

🌚Full Moons - Rebellion, Hacks, and Downturns: Are NFTs Witnessing Their End?

Nouns Wars: The Community Strikes Back!

In NounsDAO, a unique uprising has led hundreds of holders to demand refunds, potentially causing a treasury split. This revolt is exposing inherent flaws in decentralized governance models.

This includes issues with human greed, misaligned incentives, abuse, short-term profit focus, lack of expertise, and the absence of traditional corporate governance structures.

• This treasury supports the project's growth but is threatened by the exodus.

• If 20% of Nouns NFTs unite for a "fork," they can claim their stake, totaling 11,858 ETH. Some see a short-term market boost.

NounsDAO's fate intrigues the crypto world after approving v3, offering disgruntled investors an exit strategy. Is the Golden Age of NFTs…over?

Vitalik Buterin’s X Hacked! Do Not Engage

A hacker breached Ethereum co-founder Vitalik Buterin's X account, tricking 4.9 million followers with a fake link disguised as a free NFT from Consensys.

Users who clicked it lost funds as their wallets got drained, totaling approximately $691,000.

• Blockchain investigator ZachXBT exposed the attacker's actions and noted they sent Buterin an NFT named "Vitalik." 

• The post was eventually deleted, and X users warned others about the hack. Buterin's father also cautioned users.

Buterin himself has remained silent on the matter and hasn't posted on X since the incident. The exact number of victims remains unknown.

NFL All Day Sees No NFT All Day

Dapper Labs' NFL All Day NFT collectibles platform faces a tough season, with sales down 87% from last year, dropping from $10.3 million to $1.3 million.

• Despite previous success, it struggled to gain momentum, possibly due to oversights in revenue expectations.

The platform continues to evolve with in-stadium audio and dynamic Moments. While sports fans were once enthusiastic crypto adopters, the declining sales may test their interest as the NFL season begins.

🔭The Scope

The NounsDAO uprising may be a unique case, but it exposes inherent flaws in the system. Does this also by extension mean that without extreme regulations, DAOs functionally do not work? If DAO’s die, NFTs plummet and we’re seeing a reversal effect of this line of thinking play out in real time too. Are NFTs really over?

🌓Half Moons

- Justin Bieber's 2015 hit "Company" becomes an NFT through anotherblock and co-producer Andreas Schuller, with 2,000 NFTs representing music streaming rights ownership available for purchase at 0.017 ETH each, offering NFT owners a 1% royalty share from track streams while Axident retains song rights.

- Nathaniel Chastain, convicted of insider trading in the NFT sector, withdraws his bail application and plans to surrender by November 2, while his appeal is ongoing; he was sentenced to three months in prison and a $50,000 fine for using confidential data to profit from NFT purchases featured on OpenSea'

- Funko is launching Jurassic Park x Funko Series 1 Digital Pop! NFT collectibles to celebrate the film's 30th anniversary, available on Droppp.io from September 19th.

🔭The Scope

While it’s all gloom and doom out there - there are silver linings everywhere. Big franchises and superstars STILL want in on NFTs and it feels like everything’s been pulled back to a foundational, experimental stage for the technology and it’s users. Only up from here! 🤞

⚪Total Eclipse

Check out this awesome thread about Friend.Tech, highlighting its potential for profit, real use cases, the importance of the upcoming airdrop, and concerns about key prices and adoption. Not all hope is lost!

💫Shooting Star

This week’s shooting star is Nicky N

This beauty is 212 ‘Galaxy Woman’ by Nicky N. Nicky N is a multi-talented digital and traditional artist from Finland. Has been working as a portrait artist, graphic designer, illustrator, painter, surface pattern designer and visual artist for more than 20 years.

🌚Dark Side of the Meme