The same OpenSea wallet that sold the original images of the 45th president has minted the sweepstakes prizes, from a group Zoom call to a gala dinner.

Although former U.S. President Donald Trump’s non-fungible token (NFT) collection sold out in December, its NFTs for sweepstakes winners are now flooding the market.

According to data from NFT marketplace OpenSea, the same wallet that sold the original NFTs is minting tokens that serve as access passes to the sweepstakes prizes touted during the launch of the Trump Digital Trading Card collection in December.

The tokens feature images of Trump holding a sign resembling a ticket, listing the prizes promoted during the original mint. These include a group Zoom call, a gala dinner and a hardcover copy of his book “Our Journey Together.”

The collection now has a trading volume of 35 ETH, or about $48,500, and a floor price of 0.021 ETH, or nearly $30.

Where the tokens in the original mint cost $99 to mint and enter the sweepstakes, the new token prices range depending on the rarity of the experience. While the group Zoom call costs 0.03 ETH, or $40 to access, a one-on-one meeting with the 45th president is listed at 200 ETH, or about $278,000. According to the official sweepstakes rules, the average retail value of the one-on-one meeting with Trump at Mar-a-Lago is “$0/Priceless.”

The original collection has seen a dramatic drop in trading volume since it launched, with a current floor price of 0.17 ETH (about $235) and an almost 99% drop in trading volume since its peak, according to data from CryptoSlam.

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CEO John Crain said the company overhired during the market upswing and could not sustain its growth in recent months.

Curated non-fungible token (NFT) marketplace SuperRare has reduced its staff by 30%, CEO John Crain announced on Friday, succumbing to the woes of an extended crypto winter that has chilled many market sectors.

In a statement posted on Twitter, Crain said that the company saw rapid growth when the NFT market was formerly booming and it overhired to compensate.

“During the recent bull run, we grew in tandem with the market,” Crain wrote. “In recent months, it’s become clear that this aggressive growth was unsustainable: We overhired, and I take full ownership of this mistake.”

Crain said cutting its staff helped to “rightsize” the company and ensure that SuperRare can continue to service the artist and collector communities.

SuperRare joins a growing number of crypto companies that have downsized to stay afloat amid turbulent market conditions. Beginning in April, several global crypto exchanges reduced their headcount, with Coinbase laying off 1,1000 employees in June. Shortly after, top NFT marketplace OpenSea laid off roughly 20% of its staff, followed by cuts from crypto brokerages, trading firms, payment processing companies and Web3 gaming studios.

In November, Meta Platforms (META) slashed more than 11,000 jobs – an estimated 13% of its workforce – across its apps and Reality Labs segments.

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ScienceMagic.Studios aims to help early-stage Web 3 companies create a brand and engage in communities.

ScienceMagic.Studios, a company that creates and advises on non-fungible token (NFTs) and social tokens, has raised $10.3 million in a pre-seed round, according to a press release.

The company is a venture between ScienceMagic.Inc, macro investor and RealVision founder Raoul Pal, and crypto research firm Delphi Digital.

The New York-based firm raised the investment from Liberty City Ventures, Digital Currency Group (DCG), Coinbase Ventures, Noam Gottesman and Alan Howard. DCG is also the owner of CoinDesk.

ScienceMagic.Studios will assist Web 3 companies in multiple stages of development ranging from early-stage branding to the creation of digital assets. The funding will help the company scale in order to meet demand.

“Digital assets offer huge potential for brands to engage with their communities in a new way, and for talent to realize the true value from their work for the first time. But many brands are just starting to understand this,” said David Pemsel, CEO and co-founder of ScienceMagic.Studios.

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The Mercury fund will invest in early-stage companies building an economy that’s largely automated, transparent and widely accessible.

Early-stage venture firm Inflection has launched a new $40 million Mercury Fund to invest in companies building the “open economy.”

Inflection’s investment thesis is that “stakeholder-owned software networks will compose an alternative economy, which is vastly automated, transparent and accessible for everyone with an internet connection.” The firm calls this the “open economy.” Others in the VC space have called it the “ownership economy.”

Whatever the name, the thesis dovetails nicely with the rising tide of Web 3, which has seen a flood of investment from venture capital firms new and old.

Alexander Lange, general partner and founder of Inflection, in an interview that the fund doesn’t want to be “locked into any particular categories” regarding its investment focus.

“We are keeping a very open mind within this very quickly expanding economy and can’t really tell you what will be the rising narratives a year from now. What we’re trying to do is be very sensitive to adoption cycles,” Lange said.

Limited partner investors in the Mercury Fund include Galaxy Digital, Digital Currency Group (CoinDesk’s parent company), Accolade Partners, Evanston Capital, Isomer, Hutt Capital, Multiple Capital, Presight Partners and Rockaway, as well as individual backers Marc Andreessen and Chris Dixon of Andreessen Horowitz and noted tech investors Bo Shao and Erik Voorhees, among others.

Inflection typically invests between $500,000 and $1.5 million into early-stage companies. The firm said it has a community-centric investment approach, sharing ownership stakes in the fund with founders of the investment companies and innovator communities.

Founded in 2019, Inflection has a global team that is spread out across Boston, Berlin, Munich, Madrid and Denver.

Previous Inflection investments included programmatic asset management protocol Balancer, peer-to-peer code collaboration platform Radicle and Web 3 operating environment Anytype.

Investments that have already been made under the new Mercury fund include neo-bank Unstoppable Finance, identity protocol Violet, open data engine Defined and Catalog, an open archive for NFT-powered music.

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