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  • šŸ¤” Franklin Templeton Making Moves in ETF Sphere

šŸ¤” Franklin Templeton Making Moves in ETF Sphere

Plus: Moonbirds are making a comeback while Ultiverse Secured $4M in funding

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Est. read time: 4 minutes

The crypto ETF space is getting interesting and Moobirds are making a comeback?

Letā€™s digest:  

1. Franklin Templeton Making Moves in the Crypto ETF Sphere

2. Are Moonbirds Making a Comeback?

3. Ultiverse Secures $4M Funding for AI-Enabled Web3 Gaming

šŸ“ˆ MARKETS

NFT Market Flash

Market Flash

šŸ“° TODAYā€™S TOP STORY

Franklin Templeton Making Moves in the Crypto ETF Sphere

Franklin Templeton

Franklin Templeton, a notable asset management firm, announced its submission for a spot Ethereum ETF on Monday.

This move comes after the SEC approved 11 spot Bitcoin ETFs in January, a significant milestone for the crypto industry that had been advocating for the regulatory sanction of these products for over a decade.

A spot crypto ETF is designed to mirror the current market price of the underlying cryptocurrency, offering investors exposure to the asset without the necessity of direct purchase.

  • Despite the dominance of larger entities like BlackRock and Fidelity in the spot bitcoin ETF domain, Franklin Templeton is actively seeking to increase its market share.

  • The Franklin Bitcoin ETF holds approximately $77 million in assets, trailing behind other recently launched spot Bitcoin ETFs, many of which have amassed over $100 million in assets.

Recent developments also include the SEC's postponement of decisions on applications by Grayscale Investments and BlackRock to convert their Ethereum trust products into spot ETFs.

VanEck was the first to file for a spot Ethereum ETF, with the SEC set to decide by May 23.

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 šŸ–¼ļø NFTs

Are Moonbirds Making a Comeback?

Moonbirds

Moonbirds was originally released in April of 2022, and started off as one of the hottest NFTs of all time.

The pixelated owl collection was created by ProofXYZ, led by Kevin Rose, and generated over $300M in secondary sales in the first week of its existence.

  • The project originally minted out all 7,875 NFTs at 2.5 ETH (nearly $9k a piece) and brought in $66M in revenue on Mint Day.

  • The project floor price increased 1600% to a peak of 40 ETH

But just 4 months later, things took a turn for the worseā€¦

  • On August 4, Proof switched their NFT license from a commercial license to a CC0 license (which disallows holders to claim to copyright of IP and lets the public use the images of a Moonbird)

  • Since then, the Moonbirds floor price has lost over 95% of its value, hitting a low of 0.95 ETH.

Moonbirds might have seemed as good as deadā€¦ until yesterday.

The project saw a quick 63.6% jump in its floor price, going from 1.08 ETH to 1.84 ETH in just 2 days.

Itā€™s not apparent as to what exactly is causing the significant pump, but who knows? Maybe this is the beginning of the comeback!

šŸ¦ REGULATION

Ultiverse Secures $4M Funding for AI-Enabled Web3 Gaming

Ultiverse, an innovative AI-powered Web3 gaming platform, has successfully raised $4 million in a private token sale.

The funding round, led by IDG Capital and supported by companies such as Animoca, Polygon, and several others, positions Ultiverse with a valuation of $150 million.

  • Ultiverse aims to unveil Ulti-Pilot next week, an AI-generated portal designed to offer users access to a variety of gaming experiences within its ecosystem.

  • The platform's future roadmap includes the introduction of the Gaming Launchpad, Restake Rollup, and various dApps to enhance its gaming ecosystem.

  • The platform has already made significant strides, such as launching its genesis NFT, Electrisheep, and releasing AI-powered versions of Terminus PC and Vision Pro on Steam.

The company's focus on integrating AI into game development aims to reduce costs, shorten development times, and enhance user acquisition and engagement by rewarding gamers.

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