Subscribe | Specs Chat | Sponsor Specs

⌐◪-◪ → Yuga Labs just announced they will no longer support marketplaces without creator royalties. This means Yuga’s NFT collections will block non-royalty marketplaces at a protocol level.

Note: this excludes BAYC, MAYC, Punks, Moonbirds, + some others.

This announcement comes in tandem with the launch of MagicEden’s new Ethereum marketplace, which goes live today.

There are mixed opinions on this decision from OG collectors. Beanie has already voiced his strong opposition, while NFTstats.eth suggests it could help Yuga assets.

Interestingly enough, it looks like holders will still be able to trade (fee free) on Blur, as these contracts don’t have the necessary functions to block certain marketplaces — unless Yuga forces migration to new contracts. With that said future collections by Yuga will definitely be royalty-enforced, meaning they won’t be tradeable on marketplaces like Blur.

It will be interesting to watch Yuga’s NFT volume on Blur vs. MagicEden in the coming months. It will be very telling of what the market wants, which is almost always the lowest cost.

Are you bullish or bearish? Let me know what you think in Specs Chat!

⌐◪-◪ → The new spot Bitcoin ETFs just surpassed 300,000 BTC in assets under management, only two months after they went live, 47 days to be specific. Note: this excludes Grayscale’s converted GBTC fund.

To put this number in perspective, 300,000 Bitcoin is:

• 1.5% of BTC’s total supply of 21M

• 1.55x MicroStrategy’s 193,000 BTC

• 4x Tether’s 66,465 BTC

• more than all public BTC miners combined

Zooming in, BlackRock’s $IBIT continues to dominate the competition with 128,000 BTC under management, with Fidelity $FBTC following close behind with 94,000 BTC.

There is no denying it, the spot Bitcoin ETFs have ushered in a new wave of Bitcoin investors and increased crypto demand across the board.

All in time for Bitcoin’s beloved halving in ~54 days.

⌐◪-◪ → Republican lawmakers are working on legislation to ban the Federal Reserve from issuing a central bank digital currency (CBDC).

The lawmakers, led by Texas’ Ted Cruz, say "The Biden administration salivates at the thought of infringing on our freedom and intruding on the privacy of citizens.”

This isn’t the first time Republicans have tried to ban CBDCs, and they aren’t alone either — Former President Donald Trump has already promised to ban the creation of a CBDC.

In my opinion, this is a critical battle line for crypto. The creation of a CBDC, paired with surveillance and social credit systems, could restrict access to money for anybody who acts against “the rules”.

It would create a world where the government could sanction you on an individual level just like they sanction countries that don’t obey “the rules”.

In an increasingly digital world, where paper money will cease to exist, independent digital currencies (like Bitcoin) are integral to life, liberty, and the pursuit of happiness.

Join The Conversation!

Unlock Specs’ full potential by joining Specs Chat, where members chat with Valko, add context to the daily crypto news, and share a diverse set of perspectives.

Specs Chat is more than just a group chat, it’s a community designed to help you become a better crypto investor and operator.