🌅 Welcome!

In the first of potentially many Web2 platforms jumping into Web3, Instagram announces a plan to allow users to create, buy, sell, and display NFTs.

Today, we look into the recently launched Art Gobblers NFTs and our Media team brings you another episode of Full Disclosure.

This is the Delphi Daily. Let’s dive in.

🚨 In Case You Missed It

Instagram announces a plan to become an NFT marketplace, allowing users to create, buy, sell, and display NFTs.
Fidelity will offer commission-free trading for BTC and ETH on Fidelity Crypto, the company’s crypto product aimed at retail customers.
The Japanese government creates its own DAO to understand use cases and potential problems.
The Bank of England raises rates by 75 bps, the largest rate hike in over 30 years.
Union Bank of the Philippines launched a pilot program that offers BTC and ETH custody and trading services to select retail customers.

📊 Art Gobblers Find Instant Success After Halloween Launch

On Oct. 31, Paradigm and Justin Roiland launched Art Gobblers. Justin Roiland is best known as the co-creator of Rick and Morty, an animated sitcom.
On the first day of the launch, the project generated volumes of more than 4.7K ETH with a floor price of 10.6 ETH. Currently, the floor price sits at 13.9 ETH.
Out of a total supply of 10K Art Gobblers, 2K were made available as a free mint to the project’s community. From this allocation, 300 were reserved for initial contributors.
The project’s ecosystem begins with Blank Page NFTs. Artists can acquire these NFTs by paying GOO tokens and use them to mint their own drawings as 1/1 NFTs.
Minted artwork can be gobbled by Art Gobblers. This transfers the ownership of the artwork to the Art Gobbler, which acts as an art gallery to display all gobbled artwork.
Each Art Gobbler produces GOO tokens, which can be used to mint Blank Page NFTs and summon more Art Gobblers. The more GOO held, the faster each Art Gobbler will produce additional GOO.
Each Art Gobbler also has a unique multiplier that factors into the amount of GOO produced by the Gobbler. This multiplier increases if a wallet holds multiple Gobblers.
This has led to many NFT collectors teaming up via multi-signature wallets and DAOs to get a larger share of the ecosystem. Currently, the largest group titled “gobbledeeznuts.eth” holds 69 Gobblers with a total multiplier of 518x.

⚡ Transparent Crypto Regulations w/ Stephen Palley

This week on Full Disclosure, Gabe and Sarah are joined by Stephen Palley, a digital commerce partner at Brown Rudick.
We cover Palley’s path to crypto law, the fallout from Gabe leaking the draft Digital Commodities Consumer Protection Act (DCCPA) on Twitter, and which regulator is best suited for crypto.
Show Notes:
- (00:00:00) – Introduction.
- (00:00:51) – Drink of the week.
- (00:02:21) – Palley’s life as a crypto lawyer.
- (00:05:37) – Hot takes on crypto law Twitter.
- (00:08:26) – Which regulators are suited for crypto?
- (00:12:41) – Closing.
Resources:
For more video interviews, you can check our YouTube channel here.

🐣 Notable Tweets

Do Web2 platforms have Web3 strategies?

Ive been talking about this for a while – I know personally every major big Web 2 platform has a Web 3 strategy they are rolling out.

They get it.
They get that their model will change.
They get decentralisation.
Don’t underestimate them.

-Raoul Pal (@RaoulGMI) Nov 2, 2022

MetaMask’s Jump Into Web3 Gaming

MetaMask and @HyperPlayGaming have been working together to bring MetaMask to every desktop game.

HyperPlay will be a new web3-native game launcher that aggregates the @EpicGames store and @GOGcom to inject MetaMask into every game launched through these stores.

– MetaMask 🦊💙 (@MetaMask) Nov 2, 2022