Sup, nerds!

Here’s what you’re getting in today’s edition:

• 💅 This is cool: $750M pouring into BTC

• 🔎 This seems important: Yuga Labs can’t Uno Reverse this one…

• 🤝 Partner: Explore how emerging technologies help you stay ahead​

• 🔪 Let's dissect this: Why the meme coin frenzy is important

Terms used in this edition (click for an explanation, or ask Web(GPT)3!):
Bull run, NFT, meme coins.

💅 This is cool:

A New Corporate Roadmap, Pouring Profits Into BTC

In one sentence: Jack Dorsey’s Block is about to start investing 10% of its annual profits into Bitcoin, setting up a new BTC blueprint for other corporate treasuries to follow.

Right, so Jack Dorsey’s Block (the payments company that owns Square and Cash App) is about to start investing 10% of its annual profits into Bitcoin.

This is cool for two reasons:

1. It reflects the health of the current market.
   
   Large name legacy companies adopting Bitcoin in some way, shape, or form is typically a symptom of a bull run.
   
   (The more companies are adopting crypto → the healthier the market).
    

2. It cuts a new roadmap for other legacy companies to follow.
   
   Sure, there’s the MicroStrategy route — which has shown how the company’s market cap has 10x’d since pouring every spare cent it has into buying Bitcoin…
   
   But that approach might be too heavy handed for some. A 10% annual allocation is probably going to be more palatable for most CFOs.

And Block isn’t shy of profits! In 2023 they pulled $7.5B of gross profit, out of $12.42B in revenue.

If they were to repeat those numbers in 2024, that would equate to $750M being poured into BTC.

If this were to be adopted by other corporate treasuries, a snowball effect of demand and supply shock could quickly take hold over Bitcoin.

Very cool!

🥇 Want the news before anyone else?

🔎 This seems important:

Yuga Labs Can’t Uno Reverse This One…

In one sentence: Yuga Labs bought the rights to the Moonbirds NFT IP and tried to reverse its CC0 copyright, before walking the changes back.

If we had to explain this Moonbirds/Yuga Labs controversy, we’d put it like this:

Imagine if a company bought the rights to Rock, Paper, Scissors — a game that is well and truly in the public domain — then tried to charge folks to play it…

ICYMI: a few months back, Yuga Labs bought the rights to the Moonbirds NFT Intellectual Property (IP).

At which point they allowed all NFT holders to use the imagery featured in their purchased NFT(s) for commercial gain.

Which sounds like a nice gesture — and, in a vacuum, it is!

The only problem in this particular situation was that before Yuga’s purchase of the Moonbirds IP, it had been filed under Creative Commons 0 (CC0), a rigid legal tool that renounced any copyright claims to Moonbirds NFT artwork, and released the pixelated owl characters into the public domain.

Which, according to copyright attorney Alfred Steiner, isn’t reversible.

With all of that, Yuga Labs quickly walked back some of its previous statements, clarifying that Moonbirds-related commercial rights would only be attached to new, 3D versions of the Moonbirds artwork.

Alright, now you know!

🤝 Partner:

Explore How Emerging Technologies Help You Stay Ahead

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🔪 Let's dissect this:

Why The Meme Coin Frenzy is Important

In one sentence: Meme coins are different this bull run, and that’s important when it comes to the industry as a whole.

Meme coins are weird.

But they’re also really interesting, and they’re pretty much certain to play a massive part in the current/next bull run.

Here’s why:

Meme coins of old (think DOGE, SHIB etc.) started as a joke, but at least pretended to have a roadmap and plan for the future to give people some reason to invest in them.

The new breed of meme coins is different - they simply tell it how it is.

E.g. Dogwifhat claims the best thing about it is that it is “literally a dog wif a hat” (see header pic 👆).

But meme coins are super important because who invests in memes? Retail investors.

And if Wall St Bets taught us anything about retail investors, it’s that they have more power than most people realise.

Plus, the internet was literally built on memes!

Sure, the internet is incredible for information, but it’s also incredible for entertainment.

Who wouldn’t want to put money into something that they think is both funny, and that could make them more money?

The tough thing is how to pick the ones which are legitimate, and the ones which will end up going to zero.

Wish we had one of those crystal balls!

Unlocking Supply Chain Efficiency Through Digitization [partner]

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Meme Coin Trading For Skeptics

Beware! Only trade what you can afford to lose, especially with meme coins.