Its been a soft start in traditional markets with Nasdaq and S&P both down around 0.2%. Earnings report came in yesterday with headlines focused on Tesla reporting a 20% drop in net income and earnings from last year.

Leveraged positions in crypto are getting liquidated, BTC down to $28k and ETH is hanging out around mid $1900's. It seems like the greed and euphoria was a bit high these past few days and this should be a good reminder that things are never up only.@rektmando sees this as a period of consolidation and speculates that we will be bouncing around the $30k & $2k range for both of the respective coins.

Both the punks and apes are below 50 eth without any signs of recovery until the BLUR rewards farming ceases. Miladys up to around 2.5 eth floor but overall collections are bleeding out.

The timeline is full of the $hitcoins and all of their splendor. $PEPE continues to be the talk with a slew of others joining in the whirlwind

Cryptopunks floor did not move during all of the crypto crisis, the black swan events AND, ETH moving violently across a tall range. Now we are seeing it slip and it all seems due to the effects of the BLUR rewards farming. The reward system creates a constant downtrend pressure by offering incentives for less than desirable trading behaviors.

@punk9059 discussed the ratio of new participants vs the farmers in the Vortex of BLUR rewards not being healthy. The incentives are going to stay and people will keep playing the game. It is hard to see where this ends.

We are currently at 8k active traders!? This is a tough stat, down from somewhere around 70k traders at the peak. However, the onboarding continues with things like Starbucks odyssey and @Sorare using blockchain to reach masses with no market trading involved.

The stage imagines that the BLUR marketplace has a tough road ahead of it. The overall sentiment towards it has shifted on the timeline. There are still BLUR maxi's but the TL is negative and not supportive.

Today Sothebys is opening up auctions to the "grail" collection from 3ac (RIP). Punks, Fidenza's and a ton of different desirable collectibles.

@punk9059 points out that Sothebys is approaching this massive sell in a slow calculated way that will protect floor prices, the exact opposite of a clump sale scenario like we see on BLUR. They aren't dumping the 30 Fidenzas all at once because they understand collectibles and know that this would destroy the market value. They will sell things bit by bit over a longer period of time.

Nakamigos announce an announcement that something is coming which led to a decent run in their floor.

@johnkarp, who was made honorary Rug Radio Intern during the show, came on to talk about @The_Lost_Wallet. They are a quest based, story game project that has a Cryptopunk up for grabs out there somewhere in the lost wallet! They are also giving away a Nakamigo! Travel through different metaverses carrying out quests to get a chance at the Punk.

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We started off weaker in traditional markets today, Interest rates are up on 10yr and 2yr. OSF speculates that we 'over rallied' and are just readjusting. The UK is still hovering around in double digit inflation numbers which is concerning from a macro view.

Crypto saw a dip, ETH dropped back below $1900 but is above 2k at time of writing.The meme coins are the talk of the timeline. $PEPE is still all the rage and seem the doom dip just yet.

Many degens made a quick bag on the back of the meme coins, but this is a reminder to degen responsibly. NEVER trade using funds you cannot afford to LOOSE!

Yesterday we saw @franklinisbored close his account, essentially leaving the space and everyone hates to see it. The story seems to be around gambling and chasing that next shiny win. Protect yourself and your bags friends. Be careful, educate yourself and do more research than you think you should.

The majority of banks in the US offer about .3% yield on savings. Apple just launched a new savings account that offers 4.15% ranking among the best offered in the market. They want to be the "top of wallets".

You would think with crypto moving we would see a positive correlation with NFTs but it just hasn't happened. Apes and Punks are trading in the mid 50 ETH range. Most collections are down and the focus has been on coins vs. jpegs.

We need more wallets to get involved and we need NFTs to be marketed the way that 💩 coins are to breathe some green back into the charts.Blur liquidity has made the NFT trading environment much different, and more like trading an alt coin... with pictures of course.We have seen CryptoPunks destabilize in a sense after having a solid floor price for around 8 months straight.

@jackbutcher Opepen evolution was announced. It will be a free mint that uses AI for the art, sure to make use of Jacks unique perspective on pfps, value and community.

Donald Trump dropped a new series to his collectible trading cards at $99 again, boasting about the sell out and and how huge of a success he sees it as already. The streets are saying that he will be on GM Web3 soon!?! wen?

The space has rejoiced in watching highlights from Gary Gensler's visit to congress. He endured 5 hours of questions from the board and we were blessed with a ton of pro-crypto media to watch and rejoice on. If you haven't seen any yet, do yourself a favor and watch some. Do not forget to RECLAIM YOUR TIME!

There is a clear agenda against crypto and ETH specifically with questions as to whether or not it is a security. The current state of regulation is forcing blockchain based businesses out of the U.S. which is bad news for the future of the tech within the states and the retail investors that want to participate.

We were joined by @Pacemaker_NFT to discuss their digital art & culture brand's upcoming drop. They have some serious names involved like @fvckrender and @tilljagla! They already have manufacturing/shipping infrastructure in place for irl products along with a proven track record.

GM!

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If you're keeping a close eye on the cryptocurrency market, you might have noticed that there isn't really a ton to report on the traditional market. However, it is earning season, so keep an eye out for the big companies' reports. Meanwhile, alt coins are rallying, so that's something to keep an eye on.

But, for once, there is actually a lot going on in NFTs. Azuki has been in the limelight, and its FP got up to 14. The company has also announced an event in Las Vegas at Hakkasan. A blur airdrop farmer hit a bunch of bids on adukis and beans, which could affect things very soon. Additionally, Moonbirds announced they are releasing a $TALON token via nesting.

In the world of NFTs, a Big Killabears mint is upcoming, and Memeland is releasing a new GM show. Sorare had some big rare card sells around 100k.However, amidst all this exciting news, there's also a lot of hypocrisy on the timeline. People are rallying behind these meme coins without any expectations, yet will FUD a project into oblivion if there isn't a roadmap, a promise, or some type of expectation isn't met.

In other news, the stage set their Sorare lineups live on stage today. Tune into the stream to see who they chose and the laughs they had while doing it. We were also joined by the Smurf Society to go over their upcoming drop. They somehow secured a collar with the Daft Punk team! Plus, they just signed with Sorare to collaborate on the Smurf project. This is no small matter.

All in all, it's been an eventful week in the cryptocurrency market. While there may not be much to report on in the traditional market, the NFT and alt coin space are certainly heating up.

GM

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In the world of cryptocurrency, there are moments in between major macro events where the market tends to grind. Currently, we are experiencing one of those moments, and it's affecting different currencies in different ways. Bitcoin, for example, has dropped off a bit, with dominance dropping to 46.8 and dollar value under 30k. On the other hand, ETH is leading the charge, which could be in part due to the Shanghai upgrade going successfully and there not being any major sell-off after the event.

The outlook for the market seems optimistic, with OSF predicting that things will continue to go higher through the summer without any clear path to falling lower. Even if the Fed raises next month, we are near the end of their hike cycle, according to most views.

NFTs, on the other hand, have had a pretty ugly time since Friday. By Sunday morning, things felt like full capitulation, with the timeline full of doom posting. However, NFT NYC still had a heavy bullish sentiment, and there was a nice bounce into Sunday. Mando speculates that this could have been the peak capitulation for the times.

Contrary to what most people believe, NFTs are not a levered bet on ETH, nor are they correlated to the price of ETH. Instead, they are attached to the volatility of ETH, with the layer of stability being the clear current correlation. NFT worlds are up over 2 ETH, with Pixelmon still outperforming and doing better than your favorite NFT project somehow.It's important to note that we are still in a bear market, despite seeing some recovery in the prices of the top crypto assets.

In recent news, the latest STUBS artist on the show was none other than Cemhah, who lives in London and felt the magic of NFT NYC last week. He started as an art director, and 2-3 years ago, his friend told him about NFTs, which led him back into creating art of his own. He started on Tezos, then Solana with editions and such, getting on to SuperRare and all the major platforms.His current work has an ongoing story about the scammer. It isn't always easy to tell who is a scammer and who is not. Could you imagine taking a selfie with someone who scammed you and not knowing it? How different is it if you know they were the scammer?

The Omega Runner team was on the show with Metaversal. Their team has specialized experience in creating actual movies from IP, whether it's from a book, a comic, or established art. This project isn't meant to fund production, and IP rights are actually offered to holders.

GM

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This week's economic data has been closely watched, with both CPI and PPI indicating that inflation is coming down. The result has been a surge in the crypto markets, with Ethereum breaking into 2k and Bitcoin holding above 30k. These price movements suggest that investors are looking for alternative assets as they seek to protect their portfolios from inflation.

While crypto is thriving, NFTs are struggling. Things are looking ugly, with red everywhere. Many NFT projects have seen their values plummet in recent weeks, and the outlook is not optimistic. However, there is one exception: a new PFP from 10ktf is coming out soon, which is a continuation of their collaboration with Gucci.

ETH is currently experiencing a surge in value, which usually leads to a dump in floor prices. However, this time it's different. The rise in ETH's value is due to the $BLUR airdrop forming, which is driving up demand for the token.

Unfortunately, not everyone in the crypto world is having a good time. Franklinisbored lost 2k ETH, and as a result, a bunch of apes that were leveraged to acquire this amount of ETH are also suffering. This is a reminder that the crypto world can be volatile and risky, and investors need to be cautious.

On a more positive note, Fewocious was recently interviewed on a podcast, and the show was hosted from his studio in New York. Fewocious discussed the complexities of creating a generative art project using his extremely abstract art. This highlights the growing interest in the intersection between technology and art, and how blockchain is enabling new forms of creative expression.

The past week has been eventful in the world of crypto and NFTs. While NFTs are struggling, crypto is thriving, with Ethereum breaking into 2k and Bitcoin holding above 30k. The $BLUR airdrop is driving up demand for ETH, and there is excitement about the upcoming PFP from 10ktf. However, Franklinisbored's loss serves as a reminder that the crypto world can be volatile and risky. On the positive side, Fewocious's discussion of generative art highlights the exciting possibilities that blockchain technology offers for artists and creatives. As always, investors should proceed with caution and do their research before making any investment decisions.

GM

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Today's show was a vibe! With Mando missing, Farokh and OSF hosted the show live in person from the convenience of a hotel couch. They Brough good vibes and and celebrated the recent Bitcoin climb to 30k. The Shanghai upgrade is set go live soon and OSF thinks this will actually lead to a rally while Farokh sees it as a non event as far as price action is concerned.

The new stubs artist was also announced but you will have to tune in to find out who it was! #rektovie

GM!

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It's NFT NYC week, and the excitement is palpable in the crypto world. This week, there will be new artists and creators showcasing their unique and innovative works. Among these new artists is the Stubs artist, whose creations are expected to be a highlight of the event.

Last Friday, the markets closed on a quiet note, and today, Apple is in the headlines. The weak open to the markets today can be attributed to the bond yields going higher on the recent jobs numbers that came in line with expectations. Despite this, the markets have been relatively stable, and there hasn't been much volatility leading into the Shanghai upgrade, which is set to take place in two days.

Staked ETH will now be able to trade, and roughly about 20% of the supply will become available. According to Mando, this will likely be priced in, and there hasn't been much movement in the markets leading up to it. However, the upgrade is expected to be the spotlight for crypto this week, and many are looking forward to seeing how it unfolds.Bitcoin continues to outperform ETH through the year, sitting about 15% better from the beginning of the year. This seems to reinforce the priced-in narrative, as many investors are bullish on Bitcoin's future.

Meanwhile, the Nakamigos have risen back up to .7 eth, and there have been some interesting developments in the NFT world. The Blur farming continues with a brutal 30 punk dump, and 100 rektguys were purchased and dumped. On the other hand, Azuki is up, and spirits, golden skateboards, and more are selling for massive amounts of eth. Milady's is also seeing a proper pump, which is a positive sign for the NFT market.

Overall, the crypto world is buzzing with excitement, and all eyes are on NFT NYC this week. With new artists and creators showcasing their works, and the Shanghai upgrade set to take place, this week promises to be a memorable one for crypto enthusiasts.

GM

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Yesterday's US jobs figure came in just about as expected, with a slight miss of about 2,000 jobs. Despite this, there was little market reaction, and BTC is currently trading just shy of $28,000, while ETH hovers around $1,860. With both the US and Europe on a long weekend, there is an expected quiet time in the markets.

Meanwhile, in the world of NFTs, there is some speculation that someone traced an IP to Montreal in regards to Nakamigos causing a pump. The identity of the person is still unknown, but it is interesting to see how community speculation can shape market trends.

On a more positive note, we were joined by Trevor Jones and the Makers Place team to talk about the Castle party, which is being held in memory of the late Alotta Money. This event is not only an exhibition, but also a charity event to raise awareness for new artists and the legacy of the legendary crypto artist, Alotta Money.

During the discussion, Basileus talked about the base layer of fun behind Alotta Money's art and life in general. They even touched upon his final days, emphasizing the importance of living life to the fullest and leaving a positive impact on the world.

As for the traditional markets, there was a weaker tone today, with gold dipping off from highs. Oilil is currently above $80 per barrel, which is notable. The banking system is still in hot water, and bank stocks have continued to suffer as a result.

GM

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The cryptocurrency market saw a slight retracement today, likely due to the looming news of the Shanghai upgrade that is incoming. However, traditional markets seem to be having a weaker tone today as well. On the other hand, gold dipped off from yesterday's highs, and oil is currently above $80 dollars, which is notable.

The job market has been under scrutiny as the market expects Powell to pivot in case there is any sign of weakness. Bank stocks have continued to get hammered, and the banking system is still in hot water.

In other news, other deeds have dipped since the decoupling, which essentially refers to another 100k NFTs from Yuga. One set has decoupled assets, another has artifacts, and one has a set of 10k Kodas. This increase in supply does increase the market's supply, but there is also a splitting effect.

The job market has been under close watch as the Fed considers raising interest rates. The lowest labor market number since 2021 was reported recently, indicating that things may be slowing down. This gives more power to the Fed to raise rates, which is a factor that could affect the crypto market as well.

Interestingly, crypto feels like it is more correlated to gold and interest rates as opposed to the actual stock market. The correlation is even stronger considering the recent retracement in the crypto market due to the looming news of the Shanghai upgrade.

Bank stocks have been hit hard in the market, with the banking system still in hot water. If there is any indication of the job market showing weakness, the market expects Powell to pivot. The scrutiny is evident in the ongoing monitoring of bank stocks.

The decoupling of other deeds has led to a dip in the NFT market, but it has also led to an increase in supply. Yuga has released another 100k NFTs, one set of which has decoupled assets, another has artifacts, and one has a set of 10k Kodas. While this does increase the supply, it also splits the market and causes a dip in the NFT market.

Gold dipped off from yesterday's highs, while oil is currently above $80 dollars, which is notable. Traditional markets seem to be having a weaker tone today, while the crypto market saw a slight retracement. The looming news of the Shanghai upgrade is likely the cause of the retracement in the crypto market.

We also had Gmoney pop up and grace us with some input and info on his recent merch drop with Admit one.

GM

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The financial world is constantly in flux, with news and events causing shifts in the market but GM Web3 is here for you!

Yesterday, traditional stocks saw no change in price action, but interest rates saw a massive rally following some concerning labor data from the previous day. The labor market numbers were the lowest they have been since 2021, indicating that things may be slowing down. This gives more power to the Federal Reserve to raise rates.

This recent development may be one of the reasons why crypto is rallying, with ETH finally hitting over $1900. It will be interesting to see what the Payrolls number is when it comes out in combination with this recent labor data. Interestingly, crypto seems to be more correlated to gold and interest rates rather than the stock market.

Meanwhile, the Shanghai ETH upgrade is incoming, but it received some FUD from the timeline. People pointed to the amount of ETH set to be unlocked along with the upgrade, and it seems that there was a "buy the rumor, sell the news" type of situation. The upgrade is set to go live on the 12th, and staked ETH will be unlocked, which is a highly anticipated event.The amount set on the unlock is 16 million ETH, which equates to around $30 billion. This is no small number, and will be a significant development in the crypto world.

In terms of NFTs, not too many major movers have been seen. Nakamigos have been holding the headlines, topping out around 0.9 but now sitting in the 0.4 range, settling at a 40% fall. Opensea Pro was launched, and a gemesis NFT was offered to people who used GEM before a certain date on a one-per-wallet basis. Milady has also seen a fair amount of traction after Cobie changed his PFP to one of the misunderstood beings. Prior allegations seemed to have been cleared.

The interface for Opensea Pro seems to be better in most every way. There is a "pro" and "collector" mode, offering different interfaces and information presented in different ways. The question remains, will they bring out a coin? They seem similar to Coinbase in that they are the only ones doing what they are doing without any token to go along with the platform.

In a surprising move, Bugatti, yes, the luxury carmaker, is getting involved in NFTs and collaborating with Asprey Studio. There will be a physical item attached to the digital collectible, some sort of carbon fiber egg, and it will be available on the Bitcoin blockchain as an ordinal. OnChainMonkey is also involved in the launch, so they are web3 official!

Finally, we were joined by FILT3R Studio, who shared their BAYC AR filters that look absolutely amazing! Watching the YouTube stream for the full experience is guaranteed to be a treat, as these filters are on a level that hasn't been seen before. Live listeners even had a chance to win a wearable. Their OG Allowlist is currently open for a chance to get in, exclusive for BAYC holders for the time being.

The financial world is always changing, and staying on top of these developments is crucial for those invested in the market. From interest rates to NFTs, it's always a rollercoaster ride. Tune in to more GM Web3 to stay up to date!

Filter team on @ 57:44

GM!

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