gm! It's been another eventful week in Web3 and we're here to break down the top stories...

• NFTs are coming to Instagram

• Twitter Chaos and creator monetization

• Rug Radio Updates: New RugDAO proposals and we find out who EMBRACECHAOS is, the company that bought 200 Genesis NFTs.

Crypto Markets

• BTC: $21,300 (+1%)

• ETH: $1,630 (+1%)

• SOL: $37 (+12%)

NFT Markets

• OpenSea: 54,788 ETH ($86.5M USD)

• Blur: 50,501 ETH (est. $82.3M)

• LooksRare: $10.9M USD (est. 6,721 ETH)

• Magic Eden: 793K SOL

• Foundation: 356 ETH ($563K USD)

• SuperRare: $740K USD (est. 454 ETH)

The Week Ahead

• On Tuesday, we get the results of the midterm elections which has the ability to significantly impact crypto, particularly when it comes to regulation.

• On Thursday, we get the October CPI Report, a key measure of inflation that can impact future monetary policy and price movements across all markets.

NFT's are coming to Instagram

Starting with a small group of artists, Instagram will allow creators to make and sell NFTs directly within the app. Using the Polygon blockchain, creators will have access to a toolkit to simplify the process from creation to sale with no fees being taken by the platform until 2024.

Additionally, Instagram is adding support for video as well as the Solana blockchain allowing users with a Phantom wallet to display and share their Solana-based NFTs.

Twitter Chaos & Creator Monetization

After only a week of Elon Musk's acquisition of Twitter, the chaos continued with 50% of the staff being laid off, a massive drop in ad revenue, and an unintentional release of the latest app version that introduced the new Twitter Blue for $8 / month.

Elon also confirmed that creators will be able to monetize content on Twitter with the revamped version of Twitter Blue being a revenue stream to support the effort saying that it's "Absolutely essential. Creators need to make a living!", in a reply to a user expressing their support for the idea.

While the crypto wallet integration was halted, Binance, who invested $500 million into the buyout of Twitter, is creating a team to research how the blockchain and crypto could be helpful to the platform.

Google Cloud announced that they would be running a Solana validator to participate in the network, in addition to a node engine and indexing the entire chain.

OpenSea put out a Twitter thread announcing a new royalty structure that will enforce on-chain creator fees only.

MetaMask and HyperPlay announced a partnership to bring a Web3-native game launcher that allows players to bring their assets into Web3 enabled desktop games.  

This winter, HBO and Warner Bros are releasing Game of Thrones NFT collectibles calling it a "multimedia living movie experience."

WarpSound partnered with Yuga Labs to bring AI-created music for the MeeBits MB1 experience.

Business Updates

EMBRACECHAOS, the account that bought 200 Genesis NFTs, revealed themselves as Metaversal, a holding company that combines a creative venture studio with an innovative investment firm.

RugDAO Updates

RugDAO Council and Prop House proposals went live on Snapshot last Tuesday with voting open until today at 6pm EST (11pm UTC). 

Check out the full announcement for more info about each proposal!

Normandy Whale: Building Rug Radio and Bridging Culture

Normandy Whale co-hosts Comptoir NFT – the first French language show on Rug Radio. WagginWendy chatted with him to learn more about his journey into web3, France’s outstanding web3 artists and creators, and growing with Rug Radio.