08/11/2023 OpenSea Investor Coatue Cuts NFT Marketplace's Valuation by 90%: Report

Coatue also marked down its stake in MoonPay by 90%

The valuation of non-fungible token (NFT) marketplace OpenSea has been slashed by 90% by asset manager Coatue Management, according todocuments seen by The Information.

In 2022, Coatue and Paradigmleda $300 million roundfor the NFT marketplace, valuing the platform at $13.3 billion in its Series C. NFTs are aspecial type of crypto assetthat allows holders to prove their ownership of real or digital items.

Earlier in November, OpeanSea announced a 50% reduction in headcount.

While the crypto winter has shown signs of thawing, however, NFT sales have been slow to recover. Weekly NFT sales have dropped to around 23,000 from about 176,000 at the start of the year, while the weekly sales value has declined from $118 million to $62 million, data showsmarket tracker.

Nansen.ai’sNFT-500 indexhas also fallen 55% year-to-date, while itsroyalties tracker has also shown a significant decline in volume.

Arts

https://www.coindesk.com/web3/2023/11/08/opensea-investor-coatue-cuts-nft-marketplaces-valuation-by-90-report/?_gl=1*z2405x*_up*MQ..*_ga*MTEzNjIzMjY0NS4xNjk5NDIzMzI0*_ga_VM3STRYVN8*MTY5OTQyMzMyMy4xLjAuMTY5OTQyMzMyMy4wLjAuMA

Interesting NFTs
Noodle Rock
soft body spline & hair simulations in cinema 4d
The Moth Catcher
In this psychologically bed-headed portrait, a creature sets in a trance; his eyes devolved and vestigal, his third eye open but hardened and in a form resembling a Sharingan. The imagery therefore expresses an awareness existing in corporeal introspection. The creature’s mind sprouts, on the left side, an emerging face, grinning. To the right side of the head, red tentacles and fingers intertwine–a collaboration of invertebrate and vertebrate consciousness cooperatively handling paint brushes of the sort used to build an oil painting. The neck and throat bristle with random thorns, as from a rose or the upper portions of a beak sprouting from its flesh. The neck itself disassociates into layers of membranous material, terminating upon an abstracted base of convoluted forms composing its body. The nose is virtually non existent, more a sinus reiterative of the shape of the third eye. Set against the exposed teeth peering out of thick, meaty cheeks, a skeleton-like impression results. That impression sets behind a visceral set of lips and tongue, which is the creature’s prime seat of awareness. Sensual, organic, the tongue organ hangs, meaty, and with consciousness of a sea cucumber. It illuminates at the tip, drawing the attraction of a nearby moth–with mystery of purpose.
Auto-Erotic Sphinx with Toys
In this image, a giant sphinx spoons itself in erotic play within an aquatic styled environment littered by various denizens. These creatures include symbols and archetypes both current and nostalgic–each inhabiting a rootedness within mass cultural adolescence. Among the roster are Servbots, video game inspired mushrooms, a Pacman-like creature, a distant sea faring rubber duck, creatures sporting the symbols reminiscent of popular anime, and a Pokemon-like rabbit (a novel incarnation of Ganesha indicated by the Shiva trident on its nose). In addition, a few sea creatures partly inspired by sea monsters of western antiquity conglomerate along the mid left side of the composition. The Sphinx itself is an amalgam of aquatic, fetishist, ancient Egyptian, and 80’s style adornments, both living, as in a clown fish, or material, such as a cassette tape. Nautically colored antennae receive somatic signals from the atmosphere, perhaps from the 8 Ball moon or giant ringed planet beyond.
Block Chain Dungeon
Once upon a time... a little boy named Leo loved to paint, draw and experiment. He also loved to play with blocks and chains, which drew him again and again into the rooms of his friends Michel and Angelo. Often they also met in virtual rooms of Cryptovoxels, Decentraland, Somnium Space or Sandbox to create new inventions, read books about new technologies, or just swing the brushes. But on this day something gigantic happened. A good friend of Leo came to visit and brought his girlfriend Mona, who wanted a piece of Leo's art on her skin. This was the birth of the NFT's, as Leo developed Non Fungible Tattoos in the Block Chain Dungeon of Michel and Angelo. From that day on people from all over the world came to get NFT's from Leo or one of his students, like "Skeenee the rat", who controls the NFT machine with his laptop. A new age began.
A Single Number That Has 10,000,086 Digits
Non-fungible token ERC-721 on Ethereum L2 chain Polygon Token ID: 98227972 PNG image file Image resolution: 15,493 by 15,493 pixel File size: 11,769,312 bytes Minted on May 14, 2021, ed. 1/1 This smart contract exists on the L2 Polygon Network using the startbahn platform. Transferring to accounts not registered on the startbahn platform may require direct contract interaction. Smart Contract Address: 0xC58e0ac03a73ee7793ad1D0fc902925F9695a837 (Matic/Polygon)