In this issue:

• This Week in Neo Tokyo: Digital Soho House Rising (by ZeHI)

• NT’s Response to OpenSea (by ZeHI)

• Meet Your Citizen Devs: Marzung (by block_editor)

• Why The Market Dip? (by CryptoTots)

• Tidings from Shibuya Market (by Crasher98)

Zssbecker swept into The Citadel this past week to assure citizens that good things are coming as Neo Tokyo continues to position itself as the Soho House for crypto gaming.

Our reporters have confirmed that the Banshee of Biohacking - in tandem with the Community Leads and Firestorm - has been in spirited negotiations with the CitCap team.

Their mutual goal is to ensure that the citizen-led VC gets access to all of the most sought-after early investment opportunities in the Web3 gaming industry, and that these investments will enhance the NT / Bytes ecosystem, allowing Bytes and NT holders “to WRECK” in the coming bull.

The 4am Fiend went on to affirm that his “#1 goal is establishing a solid foundation and building assets for game industry partipicants prior to any gaming bull occuring so that when it does, NT is absolutely ridicolously positioned to dominate n own the role of the ‘crypto gaming soho house’”

(No we don’t edit Becker’s grammar errors.)

Elsewhere in The Citadel, The Community Leads are poised to announce the appointment of one new Lead and six new members of the new Community Council. Expect the news in the coming days.

The long-awaited Community Rewards system is ready for launch this coming week. This will allow citizens to easily “tip” their fellows in Bytes for contributions to the NT ecosystem and community. A leaderboard will be set up to display who has given and received the most rewards, and special prizes will likely be provided to the most generous and appreciated citizens.

In NT News’ most recent NFT Market Monday show, 4th Hand of The Citadel, Brighty, gave an enthusiastic endorsement to the new blockchain game Parallel. NT citizens have until 21 August to sign up for the Closed Beta version of the game. Parallel is a sci-fi themed TCG with some interesting mechanics.

For more updates and interaction, make sure to check out our regular news broadcasts / Spaces on X. Each week, our team recaps all the latest news in Web3 in our NFT Market Monday - 5pm ET.

Last week, DamonNeedsToCreate kicked off a bi-weekly NT Builds show to highlight and learn from the many builders toiling away in The Citadel. Last week’s show featured Finwitz of Moonlit Games, FuzzyWizDum of Seven Oceans Group, and Tim from STYLE Protocol. Stay tuned for the next show on, or around, August 31.

If you are a citizen and have a Web3 project you’d like to promote through NT News, contact ZeHI, BadFuture or PhoenixxDown to get more information about our rate sheet and offerings.

That’s all for this week’s roundup. We’ll see you in The Citadel.

This past Thursday, OpenSea announced that it is halting any royalty enforcement.

This provoked a tidal wave of backlash that may be the final blow to an already compromised ship.

Some lamented OS’s missed opportunity to position itself as the marketplace for NFT collectors - the Diagon Alley to blur.io’s Knockturn Alley, so to speak.

While one of OS’s biggest investors, Dallas Mavericks owner Mark Cuban, panned the move.

NFT behemoth Yuga Labs has already come out to say it will be “sunsetting” its compatibility with OS. But what about Neo Tokyo?

As most citizens know, Neo Tokyo recently recently upgraded the entire NFT collection, partially to utilize OS’s Operator Filter in order to fund the treasury through royalties.

Although OS will now be discontinuing this feature in February 2024, Firestorm has affirmed that he is in active conversations with Ellio and Becker about NT’s response, and the team is still happy with the flexibility the upgrade brought to the NT collection, as it will help the collection to “navigate the constantly changing Web3/NFT market.”

While still in college, Marzung stumbled into the world of crypto in 2017, collecting the typical coins. It wasn’t his first introduction though. When Bitcion was around 50 USD he and a friend had tried to learn how to buy in during their school days. With a dodgy system that they didn’t fully understand, he parked the idea for a while.

A gamer from his youth, computer science was the natural direction, so during the bear of 2018 he paused on crypto and finished his studies. It wasn’t until 2021 during the S1 mint that he reentered only to never exit again.

Check out the full article on Marzung on the NT News website.

Bitcoin has fallen sharply this week, dropping below $25,000 at points and raising fears that further declines could be ahead.

In a recent Twitter / X post, Market Monday regular, CryptoTots took a sober look at what may be driving the sell-off and why the bears have taken control. He notes Too Much Leverage / Too Little Liquidity, Macroeconomic Headwinds, and Loss of Momentum / Faith as the main driving forces of this downturn.

🔸🔸🔸Here’s his analysis of what we should expect moving forward… 

🔹 Further steep declines are likely if Bitcoin breaches below $20,000. Bear markets need capitulation before finding bottoms. With leverage still in need of flushing out, the purge may not be over. Many altcoins will fail; winners will be those solving real problems.

🔹 While painful, this bear phase is necessary for the crypto spring to come. Excesses must be cleared, expectations reset, and only robust utility established. What emerges will be made anti-fragile, laying the foundation for the next bull.

🔹 This is the bear case scenario based on current conditions and trends. But crypto is intrinsically volatile, and markets can turn on a dime. Upside surprises may emerge, whether from improving fundamentals or simply changing market psychology. There are never any certainties, only probabilities and managing risk.

🔸🔸🔸 The path ahead requires prudent steering. With wise navigation, Web3 still offers vast opportunities.

Get-rich-quick scheming must be left behind. Building real, lasting value is the only path forward. The speculation craze is dying; now begins the age of utility.

Check out CryptoTots’ full write up on the recent market dip in his insightful post…

• If you want to see more of CryptoTots’ coverage of the NFT Market, be sure to follow @CryptoTots on Twitter.

The Dark Lord stands in stark contrast to the luminous vision of the Angelic Overlord.

With eyes reflecting the infinite void and a voice that soothes the overwhelmed, he beckons: "Embrace the tranquility of the void, find peace in the endless fire and dark."

Many citizens, wearied by the city's relentless digitized fervor, felt the pull of the Dark Lord's promise.

Longing for simplicity amidst the hyperrealities, these Citizens - driven to Darkness - sought solace in the purity of nothingness, believing in an existence free from the constant churn of creation and consumption.

Yet, as Neo Tokyo teeters between the vibrancy of creation and the calm of oblivion, one must ponder: Is the Dark Lord's allure a path to serenity?

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

That’s it for our 10th 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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