Sup, nerds!

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

• 💅 This is cool: Digital wearables that don't suck

• 🔎 This seems important: Crypto's getting political (booo!)

• 🤝 Partner: Green energy meets Bitcoin, hidden gem company​

• 🔪 Let's dissect this: A breakdown of CBDCs and one idea that could make them slightly less scary

Terms used in this edition (click for an explanation, or ask Web(GPT)3!):
Web2/3, metaverse.

💅 This is cool:

DM Reebok and They’ll Make You Custom Digital Kicks To Wear in Fortnite and Roblox

In one sentence: DM Reebok on IG with a photo → they’ll use AI to analyze the photo and create custom digital sneakers for you → which you can then wear in Fortnite/Roblox.

We have another one for the “Web2 companies that are re-entering Web3 after the dumpster fire that was 2022 scared them off” list.

(It’s a working title, don’t @ us).

So far we have partnerships and projects like:

• Stripe is re-enabling crypto payments

• Adidas x Stepn’ creating membership NFTs

• TikTok launching a blockchain powered cloud service

And today, we have Reebok entering digital wearable space.

Please, please — hold your boo’s!

We know that the pitch of “digital wearables that you might one day be able to wear in the metaverse, but just not today” is a total snooze fest.

Which is why Reebok’s take on digital wearables caught our eye…

Cause you can create/use them now!

Here’s how they’ve set things up:

You DM the Reebok Impact page on Instagram with a photo of yourself → their system uses AI to analyze the photo → in return, you receive “a custom sneaker in the colors and style of the image.”

“Cool, but how do I actually ‘use’ the sneakers?”

This is the smart part: users can create up to four pairs for free and send the files directly to games like Fortnite and Roblox.

Now, if you still think digital wearables are silly — we’re right there with you.

But if we were to be playing Fortnite, we’d be the minority.

Fortnite players spent a collective $5.6B on in-game digital wearables last year.

So yeah, these wearables ain’t for us — but they’re for someone.

And that’s a step-change compared to most digital wearable collections.

🥇 Want the news before anyone else?

🔎 This seems important:

Crypto’s Getting Political (Booo!) but Coinbase and MoonPay Are Working to Balance the Scales

In one sentence: MoonPay just threw $1M into the Coinbase-initiated “Stand With Crypto” campaign, which aims to make crypto a bipartisan issue in the US.

MoonPay just threw $1M into the Coinbase-initiated “Stand With Crypto” campaign.

(Which aims to back bipartisan, crypto-friendly politicians in Congress to help garner clearer crypto regulation in the US).

Which we’re all for!

…cause honestly, the fact that crypto is somehow a partisan issue? That feels weird.

And we know what you’re thinking:

“Of course you’d say that — you’re crypto people. It’s in your interest for it to have bipartisan support.”

Which is true!

But here’s our theory on why making crypto a partisan issue is a massive misstep:

We’ve met/seen/heard of a whooole bunch of people that are deeply apathetic to crypto, but very few that are directly anti-crypto.

In fact, most of them aren’t necessarily anti-crypto, as much as they are anti “having to listen to another lecture on the byzantine general’s problem, and the importance of hard currencies.”

And we get it! It’s boring as heck to listen to if you’re not into it.

(We’ve had family members set clear ‘no crypto talk at the dinner table’ rules).

But going anti-crypto feels like a losing strategy, in the sense that there’re very few people in the US that are anti-crypto single issue voters.

(While there’re a whole bunch of pro-crypto single issue voters).

So another $1M towards a campaign that aims to bring some balance to the issue?

Bravo MoonPay, bravo.

🤝 Partner:

Green Energy Meets Bitcoin, Hidden Gem Company

This tiny company has all but cemented itself in the future list of bitcoin mining giants.

An industry shakeup of environmental regulations could spell catastrophe for others, while this company begins to soar.

The underlying factors?

Cheap production and carbon neutral mining.

But that’s just the start of it.

Here’s the real kicker…

Subscribe to Bullseye Trade to learn more.

🔪 Let's dissect this:

A Breakdown of CBDCs and One Idea That Could Make Them Slightly Less Scary

In one sentence: It has been proposed that the code for CBDCs should always be open source so that everyone can see exactly what is/isn’t within a government’s control…but that might not be enough to keep citizens safe.

Alright, look, talking about CBDCs is kind of like having that 'birds and bees' chat with your 13 year old son.

(It needs to be done, but you don’t exactly look forward to it).

CBDCs are essentially government run stablecoins - key words “government run.”

Typically with crypto projects (BTC, ETH, SOL etc.), no single group or entity can change or control where the crypto can be used, or how it functions - without being put to a vote and reaching consensus with its user base.

With CBDCs however, the power to change where the token can be used or how it functions is held by the government, which could lead to some issues…

Let's ease into this, and dial up our tinfoil-hat-panic-levels slowly...

Level 1 = every single cent you spend can be tracked in real time (when, where, who, and for what) by the government.

Level 2 = governments could start dictating where/on what you spend your money (e.g. want to lower consumer spending in real time? Program in a cap on all non-essential purchases for a month).

Level 3 = your money can now be 'switched off' (doing something that isn't government approved? The money in your account is now null and void).

Now...just because something sinister could be done, doesn't mean it will (screw Murphy's Law, we say!).

BUT! Here's the head scratcher:

We already have non-government issued stablecoins, like USDT & USDC.

And the government-issued legal tender we use (for us, it's USD) works just fine without all the spooky potentials for control, ya know?

One thing that has been proposed is to make the code for CBDC’s open source so that everyone can see exactly what is/isn’t within a government’s control.

But so far, with Brazil’s pilot it was found that the Brazilian government would be able to freeze user funds and adjust their balances - at will.

So, while open sourcing the code that powers CBDC’s is absolutely a step in the right direction, it doesn’t stop the countries themselves from implementing some crazy opportunities for control over a citizen’s funds.

We get that this is scary, so here’s a different point of view on all of this:

Some see CBDCs as less of a power struggle between individual citizens & governments, and more of a reaction to the growth of privately controlled stablecoins (i.e. Tether and Circle).

Governments want to be in control of the creation/issuance of their own currencies, and CBDCs will give them that control in the crypto space.

What's the truth of it all?

No idea. But we'll let you know as soon as we find out.

Okay, wow, that was a lot.

Time for another coffee ☕️

Unlocking Supply Chain Efficiency Through Digitization [partner]

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Why Central Banks Want to Launch Digital Currencies