Metaverse Newsletter #3

Aftermath of the merge

Introduction

This is our first week of post merge life, it went perfectly, even if the price has fallen slightly. On top of that, bluechip NFTs have had a very strong week! We will discuss a few key topics from the week, discuss bluechip NFT price movements and also crypto prices.

Main Stories

Here we will discuss the big stories from this week in Web3

The Merge

The Merge is the merger of two blockchain systems: the current Ethereum Mainnet and the Beacon Chain proof-of-stake system. This merger has converted the Ethereum blockchain from a proof-of-work system to a proof-of-stake system.

Ethereum’s electricity use is expected to drop by a whopping 99.988 percent post-Merge.

Visa uses approximately 60x more energy than Ethereum now per month so the “crypto is bad for the environment” argument is no longer valid.

One of the main reasons for the upgrade is scalability. Ethereum can now process up to 100,000 transactions per second.

Fortnite Creators List Blankos Block Party NFT Game

The creators of Fortnite, Epic Games listed their first NFT game “Blankos Block Party“

The release comes less than a year after Mythical Games (creators of Blankos Block Party)  raised $150 million in a Series C funding round at a $1.25 billion valuation.

The game wont be hosted on the ethereum blockchain but will be on their own. However there will be a bridge to ethereum.

Blankos Block Party is a free-to-play multiplayer party game centered around unique collectible digital vinyl toys called Blankos, non-fungible tokens that can be bought, upgraded and sold within the game.

Price Movements This Week

Here we will cover movements in crypto prices, Bluechip NFTs and Metaverse land

Crypto Prices

Ethereum

Eth had a downward week regarding price this week although the merge was a huge success, some may think this is due to unlocking of eth from staking but that’s not the case as eth doesn’t unlock from staking until the Shanghai upgrade coming soon.

Eth has decreased by 15.2% in the last 7 days

Bitcoin

Btc as usual has had a similar week to eth but has fallen less dramatically

Btc has fallen 5.7% in the last 7 days

Apecoin

Apecoin on the other hand has had an upward week! Staking is growing ever closer and people are stacking up ready for the eventual Apecoin staking coming some point this year.

Ape has gained 7.6% in the last 7 days

Bluechip NFTs

we will assess the last 7 days of movement of a few bluechip NFTs

BAYC

Although the ETH floor has increased we have seen a fairly big drop in eth in the last few days so the USD value of BAYC floor has decreased although the MAYC collection has increased slightly in USD value.

Doodles

Doodles have decreased in USD value but gained very slightly in ETH floor after the recent release of the Duplicators.

Metaverse Land

Otherside

The otherside has increased in eth value but lost slightly in USD value along with most other bluechips

Looking Forward

There are no large announcements due to come to fruition in the next 7 days, however as the merge gains more popularity we may see more firms adopt ethereum and web3 as it is essentially the ultimate eco friendly financial system now.