Yesterday we had the FOMC, as expected they raised interest rates by 25bps and the commentary wasn't that different from the last meeting; They will continue to adjust policies based on incoming data and there won't be any rate cuts this year but potentially next year we could see cuts. Equities sold off initially, but have already recovered a bit.

The next time we hear from the Fed will be in September, so there is a break there. If we do get good news on the next meeting it could lead to a nice rally. 

Crypto started to rise although just in the last half hour things have already started to pull back. It felt like crypto positions were sketchy. It feels like we are inversely correlated to stocks, which is an odd scenario.

NFTs

Bit of a bounce over the last 24 hours in NFTs. Pudgies are back above 4 eth, and more hoodie punks continuing to trade. 

There is a wallet with 17 zombies that has awoken after years, a true Zombie wallet, with it’s last activity being a Meebit claim. Nobody seems to know who the wallet is, but it does have a recently active twitter profile but speculation that they have an alt account and are in the space. 

There was an auction that happened at Sothebys, to much success, that seemed to take an opposite direction from the recent Christie's botch. 500 pieces that started as a dutch auction and landed in the 1 eth range, but the floor is now at 3 eth. The artist is over 90 years old!!!!! 

The Reddit NFT world has reached 14 million wallets now and something like 50 million in all time sales. Coolcats and Aku both now have tons of new NFT holders via Reddit. 

Fvckrender x @tokapi_official

@fvckrender joined us to talk about his stamps he is creating in a collaboration with the Austrian backed “crypto stamp art” via Tokapi. It comes with an art print, stamps, sculpture and two NFTs to choose from, eternal flowers or alpine star. 

They each come with different pieces of the collection. One of them is 100 editions, and the other is 200 editions. Fxckrender says this is truly collectible, if you are trying to make money, don't buy it. Believe it or not this is not the first NFT stamp…they have been doing this since 2019! 

MNTGE

We were joined by the @mntge_io team also! @seanwotherspoon talked to us about the advancement of fashion in Web3 and the integration of NFC chips into the physical goods.

The latest thing they have cooked up is Patchwork. They have commissioned different heavy hitter artists including our very own OSF. @nickyads described how he accrued this superstar lineup of artists and said he discovered @GrantYun2 through the GM Web3 show! It sounds like we can expect a dedicated MNTGE marketplace soon!

The Alpha is there are some music related things coming from MNTGE!

GM!

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