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- 🌐 $400B lost (and that’s ok)
🌐 $400B lost (and that’s ok)
PLUS: This is will get your fuddy-duddy uncle into crypto...
Would you trust a game MORE or LESS if it had Web3 functionality?(Click to vote / see results 👇) |
Sup, nerds!
Here’s what you’re getting in today’s edition:
💅 This is cool: The next stage of Web3 gaming
🔎 This seems important: $400B lost (and that’s ok)
🤝 Partner: The easiest way to convert cash into crypto
🔪 Let's dissect this: This is will get your fuddy-duddy uncle into crypto
Terms used in this edition (click for an explanation, or ask Web(GPT)3!):
Web3, Bull Runs, Metaverse, Blockchain.
💅 This is cool:
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In one sentence: Immutable, Polygon Labs and King River Capital teamed up to raise $100M for a new Web3 gaming fund, which is great for gamers and IMX/MATIC holders alike.
We’ll admit it:
We’re impatient people.
(Hell, Chevy’s first word was “wen?”).
Which makes the promise of Web3 gaming, and the time it takes to develop a kick-ass video game (Web3 or not) all the more excruciating.
Bad news: we’re still waiting for a AAA rated Web3 game to be made.
Good news: Immutable, Polygon Labs and King River Capital have teamed up to raise $100M for a new Web3 gaming fund.
(Which should help to move things along).
“That’s cool…but why should I care?”
Fair question.
1) If you’re a gamer…
It lets you truly own the items you collect in-game, and either sell them, or take them with you between titles. For example:
Imagine if every Pokemon had a tracked/unified global population, and that every one of them you caught came with you as you played through the series— from the earliest Game Boy releases, to today’s Switch titles.
The rare Pokemon (the ones with a low global population) might end up being worth A LOT of money (like a first edition Charizard Pokemon Card).
2) If you’re a Polygon MATIC holder…
(Which, based off our ‘which token are most bullish on’ questionnaires — A LOT of you are).
Any games that take cash from this fund will most likely be building on Immutable, which uses Polygon’s zk-rollup tech (aka bulk transaction processing software).
Long story longer — Polygon will be earning a bunch of money from fees if one of these games hit!
Alright, now you know!
🥇 Want the news before anyone else?
🔎 This seems important:
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In one sentence: $400B has been wiped from the crypto market in 7 days, the Fed is keeping rates higher for longer, and the ETFs are outflowing (and that’s ok — we’re still in an uptrend).
Welcome to the first ever Web3 Daily Meditation Session.
Please find your seats.
Today’s meditation is titled “Fear deflection, in the midst of a correction.”
Repeat after me:
“$400B has been wiped from the crypto market, and that’s ok.“
“While scary, 15% / 20% / 40% corrections like the one we are currently experiencing are completely normal in crypto bull runs.”
“Yes, the Federal Reserve has decided to keep interest rates higher for longer, restricting the market’s ability to invest more aggressively…”
“But that was expected — the market has largely priced it in already, and has responded positively to getting what it expected.”
“I acknowledge that there has been more money leaving the Bitcoin ETFs this week, and allow myself to be honest and say: that sucks.”
“But I must take the bad with the good, and with that, acknowledge that the outflows are coming from the Grayscale ETF, because their fees are too high.”
“The other ETFs continue to see net positive inflows, this indicates continued interest from the broader market.”
“Things may go lower, they may go higher — one thing is for sure: as of right now, we are still in an overall uptrend.”
Deep breath in. Deep breath out.
Namaste.
🤝 Partner:
We can count on one hand the amount of times we’ve converted fiat cash into crypto and thought:
“Hmmm…that was easy!”
The time we bought ETH via MoonPay from within our wallet.
That’s it. That’s all the times.
MoonPay offers a fast and simple way to buy and sell cryptocurrencies, allowing you to buy crypto with your credit card, bank transfer or even Apple Pay!
(They’re basically the Visa/Mastercard of crypto).
If you want a seamless, hands off fiat to crypto conversion & payment experience:
Click this link to buy crypto right away; or look for the MoonPay logo within your chosen crypto app!
🔪 Let's dissect this:
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In one sentence: BlackRock just filed to launch a private fund that will have its own token, require a minimum buy-in of $100k+, and invest in Ethereum based projects.
BlackRock just filed documents with the SEC to launch a ‘digital liquidity fund.’
Which is a freaking mouth full.
Basically it’s a private fund that will require a minimum buy-in of $100k+ and is set to invest in Ethereum based projects.
The REALLY cool part is that the fund runs on Ethereum, and even has its own Ethereum based token (called BUIDL) to denote its shares!
And that ☝️ right there ☝️ is the kind of fund that’s going to get your fuddy-duddy uncle into crypto…
How? Through baby steps.
Think of this BlackRock filing like training for a marathon (stay with us here):
Everyone would love to be able to lace up and immediately be capable of running a marathon. Unfortunately, it doesn’t work like that.
We all have to take baby steps: start running 1 mile every day → increase gradually → eventually hit 26.2 miles.
“Uhhhhh, okay so how is this related??”
Web3 has more exciting use cases than just investments, and that fully immersive Web3 experience is the marathon finish line (think: Web3 integrated gaming, metaverse experiences, social, etc.).
You, my friend, are already a ‘Web3 marathoner.’
But the rest of the world needs those 1-mile-at-a-time steps to introduce them to new ideas, without making them feel like they are training for a marathon.
Which is where BlackRock comes in:
BlackRock filing for a ‘digital liquidity fund’ is a new method for pulling fuddy-duddy traditional finance people into the world of blockchain.
The first mile was run when the Bitcoin ETFs launched.
Now we’re pushing for a 5k.
Hidden Gems in Web3 Gaming
👇 Other stuff you may have missed
🔪 Federal Reserve Holds Interest Rates, Expects Three Cuts by End of Year
💰 Second-Most Expensive Cryptopunk Ever Sells — For the Second Time — In March
🧐 FTX Was Down to Last 105 Bitcoins When Bankruptcy Rescue Crew Arrived
💥 Greenpeace Catches Hell for Its ‘Explosive’ Bitcoin Mining Report
😯 Coinbase Transactions Are Failing Due to Congestion on Ethereum Scaler Base
Alright, that’s it for today!
Love to the family,
P.S. Want to learn how to research and value cryptocurrencies? We have a framework that does just that .
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