GOOOOOD MORNING! What a week and super excited to report this weeks news.
Remember, there’s always a bull market somewhere. 📈 Oat futures ascended 2.7% and closed positive for the fifth consecutive session. Bitcoin and Ethereum each pulled back 1%, but look to be on the move. 🤔
❌Houseparty Closes
The party is officially over for Houseparty. Two years ago Epic games bought Houseparty for $35m, this week they’ve announced they’ll be shutting down the video chat app in October as a lack of use and move to more innovate solutions.
🌐Crypto adoption goes global
Last week, El Salvador officially became the first country in the world to make bitcoin legal tender — but it's not the only nation moving quickly on crypto adoption. Ukraine has legalised cryptocurrency. Panama introduced a bill that would allow crypto to be accepted for payment, and Afghanistan has seen crypto adoption skyrocket. Each country has different reasons for embracing crypto.
🎨Insider trading on NFT’s
OpenSea, the world’s largest NFT marketplace, conceded that at least one employee traded NFTs using insider information. 😬Before the announcement by OpenSea, Twitter users indicated that Nate Chastain (Head of Product, OpenSea) purchased NFTs which would be featured prominently on the company’s front page before they were listed
💰Big Round
Discord has raised $500m in funding The $15bn valuation is driven by incredible drivers from Covid-19, with communities fleeing to the online platform. Discord is a VoIP, instant messaging and digital distribution platform. Users communicate with voice calls, video calls, text messaging, media and files in private chats or as part of communities called "servers".
📒Hannibal Ledger...
Zero Contact, a sci-fi thriller starring Oscar-winner Anthony Hopkins, dropped its first trailer last week. The movie will premiere on NFT platform Vuele, which lets users buy unique versions of films with exclusive digital collectibles. "It creates scarcity in copies of the film, and protects against piracy," the movie's director told Deadline.
👀Serving looks...
Reddit co-founder Alexis Ohanian incorporated a CryptoPunk NFT into his outfit at this year's Met Gala. Ohanian, who accompanied wife Serena Williams to the party, wore a thumbnail-size version of the punk on his lapel and tweeted "Decided to bring a #CryptoPunk of my wife (that I bought for her) to the #MetGala.
🧺Wash Sales
This is the new proposed law for digital assets. Wash sales prevent investors from selling an asset at a loss to book a “tax break.” Crypto, FX, and commodities traders have taken advantage of the absence of these rules to sell assets at a loss, which counts against capital gains on their taxes (consequently, lowering their tax bill). Afterwards, they buy the assets back.
Where to invest $10 000? (not financial advice)
Pop quiz hotshot: you have $100,000. What do you invest in?
A jpeg of a rock
395,871 DOGE
A Banksy painting
Bloomberg asked the foremost financial bros on the street, and they overwhelmingly recommended alternatives—like art. Even, 72% of private banks offer art investing services to their clients. You know, people who actually do this stuff for a living.
The Pizza flipper under threat
Traditional pizzerias face high labor & real estate costs resulting in lower profit margins–estimated at 22% on average. Piestro – the robotic pizzeria of the future – boasts a 48% profit margin.
DID YOU KNOW
The planet is going through some stuff right now, and we’re going to need innovation in every sector to fight back. Enter vertical farming, a way of growing fresh food indoors in vertically stacked trays without soil
LINKS THAT DON’T SUCK
👩This women worked out everyday and documented it
🏋Its official, fitter people drink more
🎨The “Steyn” remover launched his own NFT
Have a great weekend all. Please let me know if there are any specific topics you would like me to look into and research.