2-Minute Crypto/NFT News (09/13/22)
Doodles, Starbucks, Magic Eden, ETH Merge, and CPI
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• The Everybodys is a collection of 10,000 original characters by Sean Solomon and David Schaefer. Sean is a professional animator who’s done commercial work for Nike, Adidas, HBO, etc, a character designer for Fox’s Lucas Bros Moving Co, and an art director for big festivals like Coachella. David is a musician, event organizer, and prolific writer. The Everybodys brand will begin as an NFT collection and grow to include animated content, physical collectibles, storytelling, and more.
• Doodles has raised $54M at a $704M valuation with only 11 team members. They plan to grow the team to 30. Some people criticized that the team’s been silent on Twitter recently, but they were waiting for a moment to share the big news. Builder’s gonna build.
• Starbucks officially partnered with Polygon to incorporate NFTs to provide new experiences to its customers. It’s a pretty big deal, so I wrote about it in detail in this article.
• Magic Eden’s 7-day trading volume is more than half of OpenSea’s with more users and 17x the number of transactions. Magic Eden has built a solid community from the beginning, so it seems to have a better understanding of what SOL NFT users want.
• ETH merge is happening soon! The Merge will mark the end of proof-of-work for Ethereum, and the full transition to proof-of-stake, reducing ETH’s energy consumption by ~99.95%.
• An inflation problem in the US tanked the stock and crypto markets. Consumer Price Index (CPI) in the US is +8.3% YoY and the food price increased by +11%. The probability that the Fed will increase 100bp instead of 75bp to suppress inflation increased.
Thanks for reading :)