NFT Market Update - 6th October, 2022

Yuga Labs welcomed the first BAYC community council made up of Apes with a proven track record of contributing to the club. The council intends to “represent the club at large and provide an avenue for new perspectives.”

Cool Cats secured a strategic investment from Animoca brands. The partnership will drive Cool Cats mission to become the largest global NFT brand through the expansion of media, content, and gaming.

Three Arrows’ CryptoPunks and other premium assets will be liquidated by Teneo. The liquidator plans to sell the assets to cover the firm’s obligations; co-founder and pseudonymous collector Vincent Van Dough will help the firm sell the NFT collection to cover the losses.

Japan charges full steam ahead to invest in metaverse and NFTs. The Prime Minister declared the country would promote web3 services and potentially offer tax exemptions to Japanese metaverse/NFT companies in order to entice them to keep their business in the country.