NFT Market Update 10th November 2022

Sequoia Capital marks down FTX investment to $0 dollars after investing $200 million dollars via two funds.

US regulator is set to probe FTX over handling of client funds after sources revealed client money was used to bail out Alameda.

Sorare introduced one of the world’s greatest footballers, Lionel Messi as their newest ambassador and investor; Messi joins Kylian Mbappe on Sorare’s ambassadorship.

After strong lobbying from the community, Opensea will continue to enforce loyalties on existing contracts.

Solana co-founder described the FTX fallout as a “crucible moment” for the ecosystem, however, Solana Labs has no exposure to FTX and all funds are held in dollars, adding we have “tons of runway and “learned our lessons in 2018.”