NFT Market Update - 18th October, 2022

Crypto investigations continue after the SEC is reportedly investigating Three Arrow Capital for misleading investors and FTX US is under investigation by Texas Regulator over securities allegations.

Decentraland is hosting their flagship music festival in November with more than 100 acts including Ozzy Osbourne, Dillon Francis, and Soulja Boy.

Hennessy, the cognac brand under LVMH has partnered with Friends With Benefits DAO to introduce a luxury web3 membership club during Miami Art Basel. Membership costs $450 and benefits include IRL events, tastings, live music and more post fair.

Maaria Bajwa, an ApeDAO board member submitted a proposal for a $4.5M bug bounty program to keep user’s safe from potential exploits, like the recent Binance hack, but if successfully passed would delay staking by 2-4 weeks.

After partnering with Gary Vaynerchuck’s web3 business, VeeFriends, Toys R US announced they are releasing NFTs on the Solana network.