One Championship and Animoca Brands are Releasing a Web3 Fighting Game 🥊

GM everyone

Hello Degens welcome back to No Rug News! We love our subscribers as much as Elon loves Dogecoin! Like a dog's loyalty to its owner: unwavering, sometimes irrational, but always endearing. 😆😆

Part of that intro was written by ChatGPT joke, funny or not? Let us know. Anyways, let's get right into it.

Here are some takes on the latest news in the world of NFTs, Web3, and AI:

• One Championship and Amonica Brands are releasing a web3 fighting game. They should remember to keep their digital fighting gloves on🥊! (Decrypt)

• The Sandbox and Ledger Enterprise are teaming up for metaverse security.(cryptopolitan)

• Coinbase is launching an NFT campaign to fight US sanctions on crypto. (yahoo finance)

• Yuga Labs won big in an NFT lawsuit. (The Verge)

• Trump's NFT collections are experiencing a price decline. (nftnews)

• Kraken is fighting back against the IRS. (blockchain news)

• Hackers attacked AT&T systems and stole crypto. (cryptonews)

• Hong Kong is launching a crypto licensing framework next month. (decrypt)

• One wallet has been associated with 114 meme coin scams. (cointelegraph)

• Binance is using AI to enhance web3 education. (finance feeds)

• Elon Musk is ramping up his AI efforts as he warns the world of potential dangers. (New York Times)

• ChatGPT's artificial intelligence can produce artificial truth. (Fox News)

Here is what else we dug

AI tool created by JPMorgan analyzes Fed speeches to signal trades

Well, it seems like JPMorgan is taking the term "Fed-speak" to a whole new level! Who knew that even the Federal Reserve's statements and speeches could be decoded by AI to find trading signals? Looks like the machines are really taking over Wall Street, one statement at a time.

But hey, if it helps investors make better decisions and avoid potential losses, then I guess we can't complain too much. Who knows, maybe one day we'll see robots running the entire stock market – just don't forget to charge their batteries!

Here is what we know about the story

• Looks like the Wall Street investment bank is finally embracing the power of language models! They've hired a ChatGPT-based model to digest comments from United States central bankers.

• It's like they've enlisted the help of a super-intelligent food processor to chew through all the financial jargon and spit out the juicy bits.

• Hopefully, this doesn't mean the bankers will start speaking in emoji or using text speak in their next monetary policy announcement!

• These Fed policy signals will be rated on a scale from easy to restrictive to derive what the bank has called a Hawk-Dove Score.

• It would be interesting to see how banking institutions use AI.

Yuga Labs Dominates NFT Market, Raking in 35% of Sales

Yuga Labs has taken over the NFT market, accounting for nearly 35% of all NFT trading volume from October 2022 to March 2023, according to DappRadar report.

Looks like Yuga Labs is making it rain in the NFT market! I guess you could say they've really cracked the code on making digital assets valuable – or maybe they just have a lot of really dedicated fans.

Here is what we know about the story

• NFT projects created or owned by Yuga Labs generated over $2 billion worth of trading volume in the last two quarters combined, representing 34.6% of the total market volume.

• DappRadar praised Yuga Labs for its commitment to providing value and nurturing its NFT holder community.

• Yuga Labs created the Bored Ape Yacht Club as a collection of 10,000 NFTs on the Ethereum blockchain in April 2021.

• The Bored Ape Yacht Club leads the NFT PFP market, followed by CryptoPunks, with a floor price of 51.45 ETH ($99,000) and 49.49 ETH ($95,150), respectively.

Bitcoin price holds $29K as US PCE data sparks 90% Fed rate hike bets

Well, it looks like Bitcoin is holding on for dear life at $29,000 – kind of like that one person who always clings to the edge of the pool during a cannonball. But at least the markets are escaping a "shock" from the main macro event, whatever that means.

Maybe Bitcoin is just trying to keep a low profile and avoid any more drama – I mean, it's already had enough ups and downs to make a rollercoaster jealous, right?

Here is what we know about BTC price

• Data from TradingView showed BTC/USD fluctuating around the $29,000 mark on Bitstamp.

• U.S. Personal Consumption Expenditures (PCE) Index data, tipped as the macro event of the week, failed to deliver a performance catalyst as numbers broadly conformed to what markets had already priced in.

• Well, it seems like the U.S. equities are having a lazy day at the office, barely moving from their desks, while Bitcoin is getting a bit more attention from its colleagues over at Binance.

• Apparently, they're all huddling around the order book data, trying to compress potential volatility like a bunch of financial yogis. Namaste, Bitcoin.

Graph of the Day: BTCUSD

NFT Spotlight: Art By Nafay

Artby Nafay, the 24-year-old art wizard who's slinging digital masterpieces like a boss. He is practically working with popular electronic music artists and labels like Mr. Suicide Sheep and Monster Cat, creating mind-blowing album covers that will make your eyeballs sing.

And if that wasn't enough, they're also working as an Art Director in Karachi - I mean, is there anything this creative genius can't do?

Oh, and don't even get me started on their NFTs - they're like a kaleidoscope of color that will have you gawking for hours. Artby Nafay, you are a work of art!

Essential Links: Instagram, Twitter, Superrare

Meme Drop

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Read our previous newsletters:

• Terraform Labs' Do Kwon arrested in Montenegro 😱

• Is The Banking Industry on the Verge of Collapsing? 📉

• 🗞️Vitalik Buterin’s endorsed NFT collection pumps on OpenSea

• Vitalik Buterin hosted in Accra, Ghana by Afropolitan

Follow the team: Olumide Gbenro, Chris Hauser, Sandro IEVA

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