Why are NFTs the next big thing again?: top 3 news to help you make it with crypto!

Hi crypto pal!

Vanessa from buidlbee here! Right in time to bring you all the analysis and news from the streets to make your crypto journey easier. All you need to do is sit back, unwind with some wine, read this letter, and you'll be well on your way to making it with crypto! What an awesome life 😎

Here's what you missed:

• NFTs are standing their ground in Web3 🎭

• Bitzlato money laundering is one for the books 😲

• An altcoin gem you never knew was coming 📈

The NFT industry is booming!

NFTs are like the Gen Z’s of crypto, “you don’t understand them, but they’re doing great things!” The community has been seeing a lot of considerable growth since last year and it looks like there's more to come in 2023! In December, Blur marketplace saw twice the volume of sales compared to OpenSea and another marketplace, NFTPerp, is also catching attention.

The DEX was established for carrying out perpetual futures on NFTs and last month alone, it exceeded a 16K ETH trading volume! The newly-launched successful marketplace not only shows that there is a clear demand for NFTs but also that the focus is gravitating to serious NFT users with more complex and technical backgrounds as opposed to generic art creators, collectors, and investors.

So why is the market doing so well this year so far?

• The launch of Blur played a very important role. The marketplace was tagged as "NFTs for professional traders" which provoked an investment turnover of $484M, almost twice as much from the OpenSea launch.

• The growth of the crypto market as a whole also catapulted the NFT sector.

• Brands want a taste of this bubbling market as the likes of Bugatti, Game of Thrones, National Geographic, and Spanish airline Vueling are all investing in the industry.

So friend, if you thought NFTs are a scam and not going anywhere, I urge you to think again 🔥

All you need to know about the Bitzlato scandal

Crypto exchange Bitzlato and its shareholders have been accused of a multiple-million-dollar money laundering scheme. The US Department of Justice (DoJ) announced this yesterday, stating that the financial intelligence unit of the U.S. Treasury Department (FinCEN) has banned all financial institutions from transfers and financial transactions with the company. A ban Bitzlato previously denied and called a "hack." The first red flag if I do say so myself 🚩

I'm sure just like Frank, you might have never even heard about this exchange until today. So what's the big deal?

• According to FinCEN, two-thirds of major investors in Bitzlato are associated with darknet and fraud — Russia's Hydra to be precise.

• 48% of the $4.85B crypto transactions the exchange has had since May 2018 were linked to illegal financing from Russia and other sketchy sources.

• Hydra Market exchanged a whopping $700M+ with Bitzlato and intermediaries until its shutdown last April.

• The exchange received $15M+ from ransomware [a virus that holds your computer data "ransom" until you pay your dues to its creator].

• The crown of it all is that crypto leader, Binance, is listed as one of the company's largest partners and received the most Bitcoins from the company over the past 4 years.

Consequentially, the announcement led to a drop in BTC by -4.1%. What do you think buddy? Is the government at it again or is this cause for more thorough laws on exchanges in the future? 🤔

Casper Labs' CSPR is up by 15%

The native token of Casper Labs [a company that provides enterprise-grade software and professional services to organizations] is up by 15%, all thanks to the second annual Blockchain Hub crypto forum organized by the company in Davos, Switzerland.

Held for 3 days from January 16 - 19, our very own CZ of Binance was spotted at the event! So should we expect a listing on Binance soon? Well never say never, friend! If that happens — as with other altcoins that have been listed on the exchange — the value of the token could rise by an average of 41% and an average of 73% after 30 days!

CSPR is currently trading at $0.03962, up 12.33% from the day before and up 35.36% from a week ago. There is much more news to come for the company in 2023, like partnerships with IBM & Hyperledger, a new blockchain launch in China, and an upgraded blockchain version. So I would definitely keep my eyes out for more news from is one if I were you, and trust me to bring you the latest updates!

That will be all for now. If you enjoyed this breakdown, don't be shy, share with a friend or two that you know will love it too! See you tomorrow with more tips that help you make it with crypto! 🚀