GM Seedphrasers 👋 It’s Wednesday, and we’re serving a 101 Lesson with some hot topics today.

📓 Today’s Agenda:

• 🔥 Hot Headlines

• 🌊 OpenSea Pro

• 🧰 NFT Use Cases

• 🏎 Bugatti NFT Collection

📉 Crypto & The Markets:

• Paxful CEO Ray Youssef announces that the Bitcoin Marketplace is closing and is urging customers to withdraw funds - Learn More

• Digital Asset Trusts & Funds have added over 4K Bitcoin in recent weeks due to a spike in demand caused by traditional banking failures - Learn More

• Ralph Lauren, a popular American fashion company, launches in-store crypto payments amid Miami’s recent Web3 push - Check it Out

• Crypto Attacks in Q1 2023 have amounted to over $447 Million in crypto losses, which is nearly one-third of Q1 2022s $1.2 Billion in crypto losses - Learn More

🖼️ NFTs:

• Magic Eden has announced the launch of trait-based collection offers, giving sellers and buys more options when transacting with NFTs on their marketplace - Check It Out

• Donald Trump Digital Trading Cards pump over 460% amid news of the ex-president's arrest in New York - Learn More

• y00ts NFT has done over $4 Million in sales within the first week of bridging to Polygon and is on track to crack into the top 5 all-time Polygon NFT sales - Check it Out

• Top Ten performing Polygon NFT collections on Magic Eden over the last week - Learn More

🌊 THE MARKETPLACE WAR, SZN 2

OpenSea devs have finally done something, Kind of?

Gem V2, a leading NFT aggregator owned by OpenSea, has announced its rebrand to OpenSea Pro.

Now we can all lose money, but feel like a pro while doing it!

What's the difference between OpenSea and OpenSea Pro?

OpenSea Pro is to OpenSea just as Coinbase Pro is to Coinbase.

What does that mean? They are both under the same umbrella and are connected through conjoined benefits, features, etc.

However, on OpenSea Pro, there will be features that are unavailable on OpenSea, such as advanced order types (sweeps, listings, etc.), live cross-market data, inventory management features, 0% marketplace fees, and more.

What does this mean for our bags? In reality, unless you are a serious trader, you won't benefit much from OpenSea Pro. This is more or less OpenSea’s attempt to regain market share from Blur, as it's been getting crushed over the last few weeks due to $BLUR token farming.

However, that may be about to change.

When you go to the OpenSea Pro website, you will notice a Gem symbol in the top right. When you hover over it, you will see the following prompt, alluding to an upcoming drop tied to activity on the platform.

As you would expect, degens erupted over this news, excited to potentially receive more free money.

FYI: If you’ve used Gem before March 31, 2023, you’re eligible to claim the ‘Gemesis’ NFT. Check it out.

An OpenSea token airdrop has been speculated on for a long time. Now that Gem has rebranded to OpenSea Pro, that speculation has become closer to reality.

#Wen $SEA?

🧰 UTILITY 101

If we had a nickel for every time we heard the word “utility” in NFTs, we’d all be RICH!

Utility, for better or worse, has grown to be a memed phrase in Web3.

Exhibit A:

In all seriousness, the underlying innovation behind NFTs goes well beyond monkey pictures. This tech is going to change the world!

Source? Trust me, bro.

Let’s take a step outside our jpeg bubble and see how NFTs are being used across the world.

Music

Musicians are increasingly using blockchain technology and NFTs to monetize their digital music, album art, and memorabilia.

NFTs allow artists to tokenize their work, provide royalties, and sell digital merchandise for additional income. This would not happen traditionally, as record labels and streaming platforms take most of the money artists make.

No way actual artists are using these things though, right?

Popular musicians like John Legend, Grimes, and Kings of Leon have embraced NFTs, with Kings of Leon even sending an NFT performance into space.

Yes, SPACE.

If you are interested in how Music NFTs work, check out sound.xyz, a leading Music NFT marketplace that has paid back over $5 Million to artists.

Virtual Real Estate

Virtual real estate is a key aspect of the metaverse.

FYI: A Metaverse is a network of shared virtual worlds where people can socialize, create, play games, shop, and work. Think Ready Player One (AMAZING movie, 10/10 recommend).

Many tech companies are building experiences in these virtual worlds, such as virtual mental health clinics, office spaces, shopping malls, etc. To build this stuff, we would need space, or land, to build on. This is where NFTs come in.

Virtual real estate is traded with NFTs in virtual worlds like Decentraland, The Sandbox, and The Otherside, where major brands and celebrities have staked their claim.

When someone buys virtual land, the NFT representing ownership is transferred to their wallet, allowing them to build and monetize on the land. This could include, but is not limited to:

• Charging rent

• Creating experiences/events

• Selling virtual apparel/goods

• And much more

Decentralized Finance Loans

Yes, you read that right. Your digital monkey pictures can be used as collateral for multi-thousand-dollar decentralized loans.

What could possibly go wrong?

Before the loan is finalized, the borrower and lender must agree on the following:

• The asset's value

• Loan repayment timeline

• Interest rate

Once the terms are agreed on, the NFT is locked into a smart contract stored on the blockchain, making the smart contract the technical owner of the NFT. The smart contract remains the owner until the loan terms are satisfied or the set contract conditions are met.

Check out this podcast we did with Roofstock-Onchain and learn how they’re helping investors buy real estate with NFTs

If the borrower defaults on the loan, the NFT is automatically transferred to the lender's wallet as collateral, making the lender the new owner of the asset.

In theory, this is a super cool idea. However, there are multiple stories of borrowers defaulting on loans, resulting in the loss of extremely valuable assets.

Stay safe, and only play with money you are comfortable losing!

If you are interested in discovering other NFT use cases, check this out!

🏎 WHAT COLOR IS YOUR BUGGATI?

Just so you know, we’re getting a Blue Bugatti.

Bugatti, one of the most prestigious luxury automobile brands in the world, has collaborated with Asprey Studio to create The Asprey Bugatti Egg Collection,

FYI: Aspry Studio is another highly regarded luxury brand that offers unique products for the likes of royalty, heads of state, and international connoisseurs.

The Asprey Bugatti Egg Collection consists of 111 physical eggs linked to Bitcoin NFTs.

If this isn’t proof we are living in a simulation, then I don’t know what is.

The physical eggs are crafted from carbon fiber and sterling silver, featuring details such as a "dancing elephant" motif inspired by Rembrandt Bugatti's sculptures and a scene of the Chateau Saint-Jean, Bugatti's home in Molsheim, revealed when the eggshell opens.

TLDR: The eggs REALLY are fancy

But at the end of the day, it's just a lousy egg, so it can't be that expensive, right…right???

Well, think again. According to Ali Walker, the Chief Creative Officer of Asprey Studio, the price for eggs 1-100 will be between $20-50k, and eggs 100-111 will be upwards of $200,000.

And we thought $12 for a dozen eggs was bad.

Quick Maths: That comes out to an estimated range of 0.7 - 7 BTC per egg at current prices.

Seeing as this drop is targeted towards very high net-worth individuals, why should the majority of us care?

This collaboration represents a blending of tradition and innovation, combining luxury craftsmanship with cutting-edge technology such as NFTs.

This will likely be treated as a blueprint for other Web2 brands interested in entering Web3, especially those specializing in luxury goods. Think about it like Dominoes. Once one falls, the rest will eventually follow!

This is bullish for Web3 and especially bullish for the development of Bitcoin Ordinals!

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😂 Meme of the day:

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.