What are NFTs Monthly Update (July)

Key Takeaways

• The crypto market has experienced a massive meltdown, losing $1 trillion in value. This was caused due to popular cryptocurrencies collapsing and has inspired governments to introduce regulatory measures to balance the volatility of the crypto industry. Click here to learn more.
• Coinbase dropped the first part of the Bored Ape Yacht Club featured movie after SEC launched investigations into the crypto exchange for issuing digital assets that should be listed as securities. The trilogy is called “The Degen Trilogy,” with the first part of the movie released through a tweet titled “RUN THE CHAIN.” Click here to learn more.
• USA law firm Scott + Scott is trying to organize a class-action suit against Yuga Labs because Yuga Labs inappropriately promoted BAYC and ApeCoin, instigating investors to invest in their products. At the same time, the collection’s floor price and token’s value plummeted after the crypto meltdown. Click here to learn more.