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Estimated read time: 3 minutes and 12 seconds
- 🚨 Alpha Alert!
- 🍕 National Bitcoin Pizza Day
- 🗒️ Milk Notes: Vitalik Speaks Out
- 🤑 Funding Friday
🚨ALPHA ALERT🚨
The Milk Road has eyes and ears everywhere.
One of our sources told us that in today’s Nike video, there is a hidden QR code easter egg at the 0:04 second point.
It’s probably nothing..but hey..it might be something.. I signed up, just in case.
And to the reviewers that keep giving us 3 milk reviews and begging for more alpha. ARE YOU HAPPY NOW?!
THE MOST EXPENSIVE PIZZA EVER BOUGHT
This Sunday is Bitcoin Pizza Day
A historic day in crypto.
It brings together my 2 true loves. Bitcoin and Pizza.
What’s the story?
In 2010, a guy named Laszlo posted online: “I’ll pay 10,000 Bitcoin for a couple of pizzas… maybe 2 large so I have some left over for the next day”
At that time Bitcoin was worth $0.0041, so the total would come out to ~$41.
…but nobody took him up on the offer.
Until this guy stepped in. Jeremy Sturdivant bought 2 large pizzas from Papa Johns and had them delivered to Laszlo for 10,000 Bitcoin
That wasn’t the end.
Laszlo kept the offer running, until the Bitcoin price went up to $0.06 (at that point, 2 pizzas would cost him $600).
Laszlo says he spent a total of 100,000 on pizza that summer (worth $3B today!). He also says he has no regrets. He says at the time, it felt like he was getting free pizza…and now? He’s happy to have contributed to the global phenomenon that is Bitcoin
P.s. Our friend Pomp commemorated the story by launching his own pizza shop - Bitcoin Pizza.
And check this out. Pomp is currently rocking a 100% open rate of the Milk Road.
To reward that kind of loyalty - we’re going to send people a Bitcoin pizza today. Just take a look at the menu (here) and tweet your order to us @milkroaddaily
STOCKS ARE COMING TO FTX
FTX US just announced that users will be able to trade stocks and ETFs on their new platform called FTX Stocks.
Pretty cool. Now you can trade stocks and crypto all under one roof.
It’s slowly rolling out to a few users, but they’re expecting to make it available to the public by mid-summer.
Milk Road Take: Hmm let's check the notes.. Sam Bankman-Fried (SBF) praises Robinhood for having crypto and stock offerings, then buys 7.6% of the company, now releases stocks inside FTX to compete. Yesssirrr!
At this point, I’ll believe any Sam Bankman-Fried story.
He purchased France and renamed it to FTXrance? Cool.
He is a pesca-pescatarian (he only eats fish that eat other fish?). Sounds great.
He’s starring in Fast & Furious 14 with Vin Diesel? Sign me up.
MILKNOTES: VITALIK SPEAKS OUT
Milknotes. Like cliff notes. But with our name instead of Cliff.
Holy shit. Did you know Cliff notes is Cliff's notes? With an s? My whole life I’ve been saying that wrong. There’s a guy named Cliff, those are his notes. Sorry Cliff, my b.
Anyway - today we’re summarizing Vitalik’s latest thoughts:
A 37 page report called Decentralized Society: Finding Web3’s Soul.
*Spoiler alert* Soulbound tokens are the future. We wrote about Soulbound tokens back in January.
Today, people buy NFTs that they can sell. Like flipping sneakers or houses.
But some things are meant to be yours. Not just “not for sale”...Never for sale.
Like your college degree. Or your social security number.
Vitalik wants to see this type of NFT (a “soulbound NFT”). He talks about a few example use cases:
1/ Fix the current credit score system. Our current financial system is based on a credit score number that goes up and down randomly.. you pay something off and it’ll go down. It makes no f*cking sense.
Soulbound tokens can fix this and help create a new credit system that could provide a bottom-up alternative. It could be based on things like work history, certifications, recommendations, societal value provided, etc.
2/ It’d be easy to spot deep fakes. Since everything is recorded on the blockchain, photos and videos that are put there have a timestamp and other data that’s written in crypto history forever. Deep fake videos can’t replicate this and it’d be easy to call me out!
Milk Road Take: It’s cool to see Vitalik talk so openly about his thoughts. He’s watching his creation get changed in real-time and it might be moving further and further away from the Ethereum he wants. But at the end of the day, this is web3. Not even the main developer and creator can do anything about it. That’s just how the cookie crumbles.
Ps. are we sure like the name “soulbound NFTs”? Sounds a little “nickleback-y” to me.
We’re taking suggestions..
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FUNDING FRIDAY
Every Friday we bring you details on what $$ has been invested into web3 companies. This week we saw ~$400M poured in:
Coinshift got $15M for their crypto asset management tool that DAOs and companies can use to run crypto payroll, secure the treasure wallet, and more. P.S. we invested in this one!
Questbook got $8.3M for their tool that creates & manages grants used by protocols to incentivize builders to come to their ecosystem.
Encode Club got $5M to build a recruitment pipeline for their community of developers and partners. Some of the protocols they help recruit talent for include Solana, Polygon, Avalanche, and more.
UBet got $2.7M as a decentralized sports betting platform.
Evaluate Market got $4 for their all-in solution to help manage your NFT portfolio. It helps keep track of your NFTs across multiple blockchains and marketplaces.
If you wanna see every company that raised $ this year, click here.
Shaan aka “Elon’s chocolate milk” & Ben "2% Milk" Levy
See ya tomorrow!
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DISCLAIMER:
None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
