Max Mint ⏫

William M. Peaster argues that the NFT market has entered an era of "Max mint," in which many NFTs can be minted cheaply on layer-2 networks. He cites nearly 100 million NFTs minted last month via more than 6 million transactions across Ethereum, Arbitrum, Optimism, and Base, with Ethereum not congested during Coinbase's Onchain Summer. The newsletter's weekly roundup reports that the floor-based market cap of the NFT space shrank 0.35%, from 8.55 million ETH to 8.52 million ETH, and that the SEC charged Impact Theory with conducting an unregistered security offering via its Founder Key NFTs.