#197 - The AAA gaming metaverse coming in 2023 🎮

GM and welcome to Decentra Daily.

We're the web3 newsletter that spends our spare time chasing off FUDers and normies.

Today,

1. The AAA gaming metaverse coming later this year

2. Sotheby's stacked new art show

3. Coinbase moves to Bermuda & institutions eye Ether 👀

Plus, all the web3 headlines, memes, and Tweets of the day.

D-Daily takeaway 🥡It feels like a big moment for pfp collections – BAYC and Punks are hurting, while Azuki and Captainz hold strong.

Opportunities to scoop up blue chips at bottom prices could soon emerge...

But will you buy? Tweet us your thoughts!

What's this? 🤔Our floor price index tracks the biggest, most influential pfp projects, art collections, and gaming assets.

Is the first mainstream metaverse just around the corner?

I don't know about your feed, but in mine, the word "metaverse" has totally disappeared.

Are companies embarrassed about jumping on the metaverse meta so quickly?

Did one man crash an entire industry through the power of cringe?

Luckily for metaverse advocates, the lack of social chatter doesn't mean that building has stopped.

In fact, an eye-catching metaverse project just posted a press release, saying that they're targeting a 2023 release.

The name? Migaloo

"Migaloo" is a gaming metaverse developed by a AAA studio that will "allow content creators to build works in the metaverse."

What does that mean?

• Migaloo will contain "sandbox tools" and "blockchain systems" for creators

• It will run on a create-to-earn (C2E) model

• The gaming assets that players create can be bought and sold on a secondary marketplace

• Unlike similar sandbox games, those assets will be tokenized as NFTs

So, something like Roblox on the blockchain then?

Who's making it?

One of the most exciting things about Migaloo is the team behind it.

It's made by Krafton – the South Korean studio most famous for its popular mobile co-op shooter, PUBG: Battlegrounds.

PUBG's 100-person battle royale shootouts attract 280 million+ monthly players across iOS and Android.

Also working on Migaloo – South Korean augmented reality firm Naver Z, who call themselves, "operator of the largest metaverse in Asia." So it's not a bad lineup!

Also good news: while the project is South Korean, it looks like Migaloo will cater to North American markets.

– And don't worry. "Migaloo" is a working title. 😂

Notable Tweets ✅

On the web3 wire

Coinbase secures a license to operate in Bermuda 🇧🇲The exchange will use its license to launch an offshore derivatives service. But CEO Brain Armstrong has also indicated that Coinbase could leave the US entirely if the regulatory environment doesn't improve.

Institutional purchases of ETH futures are up 39% 📈Now that staked ETH can be withdrawn, there's been an increase in institutional investments, as indicated by the number of active futures on the Chicago Mercantile Exchange.

MEV trading bots took massive paydays during the latest meme coin pump 🤖 A bot called jaredfromsubway.eth has taken $1.7 million in profits from $PEPE and other alts this week!

Grails - Sotheby's stacked art collection

NFTs might be down bad – but it looks like no one told auction house Sotheby's.

They've just put together one of the grail-iest NFT collections we've seen in a while.

Grail = the rarest, most coveted, or culturally significant asset in an NFT collection.

The catalog for this sale reads like a fine-dining menu for OG generative art projects and covers some important stages of NFT cultural history.

– including the first-ever sale of some NFTs rarely seen outside collector vaults...

So what's on the menu?

Highlights from the collection, which appears to be at least part-owned by Three Arrows Capital, include:

Ringers #879 from Dmitri Cherniak’s landmark generative Art Blocks collection, also known as The Golden Goose.

Snowfro’s full spectrum Chromie Squiggle.

Here's a rare, small-scale Fidenza by Tyler Hobbs.

A zombie CryptoPunk!

And don't forget about these Autoglyphs – often described as the first-ever onchain gen artworks.

The collection will be offered "in chapters" throughout 2023, in a series of global auctions and private sales beginning in May.

Check out the Sotheby's page for Grails: property from an Iconic Digital Art Collection.

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Meme of the day

Next up: web3 threads of the week 👋

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