February 24 - 28: This week in NFTs, recapped in one letter

Gm,

Ok everybody, deep breath in…and out (*screams internally*).

Things took a sharp turn for bleak-ville last weekend when $1.4B was stolen from crypto exchange Bybit. What followed this week has been referred to as a bloodbath, a meltdown, and a sh*t show, with pretty much everything in the red.

Drama continues to unfold around Kanye’s controversial memecoin, which has yet to be launched. Ongoing memecoin scandals like this could be the cause of Pumpfun “trending to zero”.

In good news, things are changing at the SEC, as they close their cases against Coinbase, Consensys, Robinhood, and Uniswap. We’re definitely entering a new era - keep your chin up!

Sorry coinbase, we’re turning off notifications.

In the grand scheme of things, markets are still trending upward.

• Sam Bankman-Fried decided to start posting on X again, to which the crypto community said absolutely not (community notes really coming through here).
  

• Pudgy Penguins are set to launch an animated YouTube Series, aimed at kids and families.
  

• MetaMask launched a visa card and it’s cute as hell. Sign me up.

You can now buy Abstract NFTs on Rarible.com. To celebrate we’ve got 16 drops live right now - mint and earn XP. Read more about these drops here.

Ren, “Fading Dreams” on Abstract

To get started, make sure you have an Abstract-compatible wallet, then simply bridge ETH to Abstract using their the relay bridge.

Trust in your decisions.