NFT chaos persists. From more mainstream outlets citing an impending doomsday, to Yuga Labs discourse flying high, and more exchange marketplaces emerging – it’s a high-flying debacle to start this week.
Nightly Mint
Latest Mint: Kraken NFT Marketplace
Coinbase NFT is dead! Traditional cryptocurrency exchanges are continuing to show interest and investment around building their own NFT marketplaces, chomping at the bit to chip into OpenSea’s market dominance.
Kraken is the most recent to announce this today. They have opened their beta waiting list. According to the exchange, users won’t have to pay any fees for NFTs. This exchange is joining Coinbase and FTX who launched their marketplace tools in late 2013.
Related Reading| Demand For Polkadot Slumps; Where’s It Headed Next?
Yuga Labs received a lot criticism following last weekend's metaverse-land release. The native APE token also has not been an encouraging sign since that time.Source: TradingView.com - APEUSD | Source: APE-USD on TradingView.com
Discourse by The Yuga Labs
While @NFTethics on Twitter has seen a fair share of criticism from the NFT community for ‘reaching’ at time, and many have accused the content of essentially content farming, there is certainly something worth considering around some of the latest posts regarding Yuga Labs.
The posts come after a heavy barrage of criticism over the past three to four days around Yuga Labs handling, and subsequent messaging, over their ‘The Overside’ metaverse release. ‘Otherdeeds’ are taking a beating as well, with mainstream outlets like Bloomberg covering a bit of the chaos today.
Improbable was the creation of Yuga Labs metaverse. They have contracts with the US & UK army, and at the same time received a lot of funding from Saudi Arabia & UAE (via SoftBank’s Vision Fund), both large arms importers. A16z was also on the board. pic.twitter.com/7ClnmpaCcK
— NFT Ethics (@NFTethics) May 3, 2022
The ‘Minty Fresh’ Take
A lot of traditional media has cited the “beginning of the end” of NFTs for… months on end. Nansen’s Alex Svanevik rebuttals aptly.
Are we at the beginning or the end? @WSJ? pic.twitter.com/FQF5os9POv
— Alex Svanevik🐧 (@ASvanevik) May 3, 2022
Similar Reading: Experts Believe Ethereum will Grow 100 Percent to Reach $5,783 by Year-End| Experts Say Ethereum Will Grow 100% To Hit $5,783 By Year-End
Featured image taken from TradingView.com Charts, and Pexels This content was not written by or associated with the mentioned parties. This content is not intended to be financial advice.