The NFT chaos continues. 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.
The Nightly Mint
Latest Mint: Kraken NFT Marketplace
Move aside, Coinbase NFT? 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.
The latest to do so today was Kraken, who opened up their waitlist for beta usage. The exchange has said that users will not incur any gas fees for NFTs on the platform. The exchange joins the likes of Coinbase, who opened up their beta release last month, and FTX, who began their marketplace tools late last year.
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Yuga Labs has faced a fair share of criticism since last weekend’s metaverse land release, and it’s native APE token hasn’t been a bright light since the release, either. | Source: APE-USD on TradingView.com
The Yuga Labs Discourse
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 is the company creating 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. They also made $150m loss and a16z is on their 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.
Is this the beginning of the end of @WSJ? pic.twitter.com/FQF5os9POv
— Alex Svanevik
(@ASvanevik) May 3, 2022
Related Reading | Experts Say Ethereum Will Grow 100% To Hit $5,783 By Year-End
Featured image from Pexels, Charts from TradingView.com
The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.
