In this issue:

• This Week in Neo Tokyo: We’re Growing Stronger (by PhoenixxDown)

• The Resurgence of NFTs (by Flower83)

Neo Tokyo citizens have continued forging IRL connections, this time in Singapore at Token2049, with an event hosted by Citadel legends Chr0nicle and Metro taking center stage on Thursday.

And what a marvelous job they did, as outlined in Firestorm’s post below:

Special thanks to our fantastic sponsors, ChronosWorlds and CrushProtocol, for helping make this happen for The Citadel.

Metro has been sharing some additional photos from the week, which you can view here if you're a citizen. I’m hearing whispers that last year’s Token2049 marked the bottom, and we sent hard after that week. What if…?

While the fate of our bags in the coming weeks remains a mystery, one thing is crystal clear: we're growing stronger.

This is how things shaped up with the NT content:

Interlinked #48 - Ben and Nick are joined by two key players behind Xborg: Lou, the founder, and Connor, head of marketing. Xborg is building the world’s largest player identity protocol to drive the evolution of online experiences. Topics include e-sports, gaming data, and how to build organic traction.

Market Monday - Much like Bitcoin itself, the topic of 60K continues to go sideways week after week for the Market Monday crew, who are itching for either a breakthrough or a crash to zero. Enough of this endless limbo! CEASE! ExtraOrdinals co-founder, WhiteCoco4U, makes an appearance to reassure everyone that Ordinals are not dead. On that note, “Are NFTs back?” It’s all in last week’s show, which you can listen to here.

Karate Kombat 49 - While not technically a Neo Tokyo production, we had the pleasure of supporting Karate Kombat’s recent event in Singapore during Token2049. If you missed it, you can catch the full event above. Award Kazimba’s post-fight interview was an absolute delight.

Do you know your laws, citizen? Are you aware that we ONLY win together? It’s true—unity and teamwork are at the heart of Neo Tokyo. Without this ethos, we wouldn’t be where we are today. Brush up on what this all means and share your favorite memories of seeing this law in action.

Ktrap has dropped his fortnightly update, and things are steady as usual: 1,600 S1s and 1,955 S2s are staked, the Bytes holder count is 6,857, and here’s a stat I found particularly interesting—only 30 S1s are listed. That’s (almost) nothing!

Bears will be spiritually decimated when the ultimate tidal wave of BYTES buying hits. They will quite literally cease to exist, evaporating into dust before our very eyes. People will proclaim that miracles are occurring and tell meatbags stories of what they saw.

The few unfortunates who escape this apocalypse will flee underground, too mentally disturbed to re-emerge for many years—maybe even ever. Because there is nothing a bear hates more than people having fun and smiling—and trust me, there will be plenty of that going on up here.

Until next week, citizens.

“Are NFTs coming back?”

This is the question we have been asking ourselves since they started aggressively and consistently dipping into a bar market that has now been going on for multiple years. Eventually, everyone grew tired of calling the bottom after it kept going down, and the crypto cape slowly abandoned ship for memecoins.

But this August was a bullish month. The first one in a while.

Besides the obvious metric: an increase in floor price across the board, there were a few recent events that show people may be becoming interested again, such as for example the overall sales volume increasing. In the depth of the bear market, there were hardly any sales going around.

Now, the monthly charts across different marketplaces look relatively healthy:

Additionally, Magic Eden has been picking up steam and many collections on Solana have been doing well over there as well.

Another parameter that measures the success for NFTs is how many new mints do well. Recently there were some eggs that came to ETH and absolutely mooned from a free mint to 40x in a few days. But then everyone forgot about them.

The latest was a huge mint by Market Elites over on Solana. They managed to raise more close to $6 million, managed to fully sell the entire collection through presales, FCFS phase and public mints. The floor price didn't immediately tank after reveal. No, it actually currently sits at almost 2x, indicating that people enjoy their utility and art.

Though, arguably, these Market Elites have actual utility. What we would need in NFTs if we are to call them “coming back” is absolute mania and baseless hype and 10x’s across the board. Or maybe the NFT space will simply mature and evolve into the right direction?

Additionally, there were quite a few sales happening in the 6 figure range lately, such as Golden Fur Apes and Hoodie Crypto Punks:

If the NFT space begins to value rarity again we are certainly on the right path. There are quite a few other things that we are noticing in the space that I didn't have time to cover, but are all bullish reminders of the nostalgic early days.

With all these new developments in mind, I would like to say that I am cautiously optimistic. The future looks bright. And who knows, if they do in fact come back, I might start writing monthly recaps again 🤔

All content from Neo Tokyo News is for entertainment purposes only, and not financial advice.

That’s it for our 64th edition of the Neo Tokyo Newsletter. Be sure to subscribe and share with your friends so you don’t miss out on future content.

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