GM. This is the Milk Road. The daily newsletter that tracks crypto the same way kids track Santa on Christmas Eve.
Here's what we got for you today:
- Top NFT projects are leaving Solana
- WARNING: Massive phishing campaign going around🚨
- FIDE Chess coming to Web3👀
- Milky Meme
TOP NFT PROJECTS ARE LEAVING SOLANA
DeGods and y00ts (2 of the top NFT projects) just dropped a bomb...
They're leaving Solana. That's right, they're packing their bags & moving to other blockchains.
This is big. DeGod's and y00ts have been the top 2 NFT collections on Solana.
Over the last 30 days, they've done more sales volume than the top 4-10 NFT collections on Solana... combined.
It's like if Superman & Batman left DC Comics. If Steph Curry & Klay Thompson left the Warriors. If Peanut Butter & Jelly left bread.
So, where are y00ts & DeGods taking their talents?
- y00ts is going to Polygon
- Degods is going to Ethereum
Both will migrate away from Solana starting in 2023. (Bye Felicia)
This is a big blow for the Solana blockchain. It's already been on the hot seat for stuff like questionable projects artificially pumping value to the chain, going out of service more than the McDonald's ice cream machine, and being Samuel Bankman-Frieds' favorite blockchain.
And it just lost its two most valuable NFT projects.
Hate to say it but, Solana is looking a lot like the 2015 Lakers - has anyone heard of these guys?
Solana after Y00ts and Degods left
— ThreadGuy 👑 (@notthreadguy)12:07 AM • Dec 26, 2022
TODAY'S EDITION IS BROUGHT TO YOU BY DESO
Do you feel it?
There’s been a vibe shift on social media.
Elon Musk is banning anyone who speaks against him. Facebook and TikTok are collecting our data like they’re infinity stones.
Social media is run by centralized companies using our content and personal data to make money.
We need social media platforms where we control our audience and our data.
Here’s why DeSo is different than web2 social platforms:
- 100% of all code & data are completely open. All posts and social graphs on DeSo are stored directly on-chain
- Data is available to everyone. No more monopolization of data from companies like Facebook, Twitter, etc.
- Creator coins let your followers invest in you and make money as you become more popular
- So far, there have been over 1.7m wallets created, $1.4b in total txn volume, and 73m+ transactions on DeSo
- Oh, and it was recently listed on Coinbase
Claim your username today. They're running out fast!
🚨WARNING: A MASSIVE PHISHING CAMPAIGN IS GOING AROUND🚨
North Korean hackers are at it again. Last week we told you about how North Korea had stolen $1b+ in crypto this year.
Now there are reports that North Korea is behind a massive phishing attack.And they aren't looking for salmon or trout...
The attack is targeting NFT users.
🚨SlowMist Security Alert🚨 North Korean APT group targeting NFT users with large-scale phishing campaign This is just the tip of the iceberg. Our thread only covers a fraction of what we've discovered. Let's dive in
— SlowMist (@SlowMist_Team)2:03 PM • Dec 24, 2022
Here's how it works:
- North Korean hackers have created 500+ fraudulent sites that mimic popular NFT platforms like OpenSea, X2Y2, Rarible, etc
- NFT users sometimes land on these sites by accident (misspell the domain, etc.)
- Users connect their wallets to the sites thinking it's the legit site
- Hackers gain access to the wallet and steal NFTs+ other assets
The campaign has been ongoing for several months and has recently ramped up. I guess North Koreans know "1" looks like "l" to us after a few too many eggnogs.
Side note: Let me tell you a quick story about Kendall - one of the guys that just bought the Milk Road.
Kendall used to own a bunch of domains that were similar to popular sites like facebook.com.
Kendall was making a bet that people would misspell the popular sites by accident, and end up at his site instead.
Kendall was right. We all suck at spelling and have fat fingers. Kendall's sites got a lot of traffic and he was able to make a bunch of money.
But Kendall forgot to lock his playbook up, and the North Korean hackers found it. And now, they're making the same bet.
Except instead of putting ads on the sites to make money, they're hacking every wallet that connects to their sites.
It wouldn't be Christmas without the Grinch. And this year, the Grinch is Kim Jung-Un.
Stay safe out there, Roaders! Always triple-check the links you're clicking to make sure you're on the correct site.
FIDE CHESS IS COMING TO WEB3
One of the oldest games in history is hitting the blockchain. It's been around for 1,500+ years and has hundreds of millions of players worldwide...
Chess.
That's right. FIDE (the International Chess Federation) is teaming up with Avalanche to bring chess to Web3.
1/ In 1924, @FIDE_chess was formed to revolutionize the game of chess. 100 years later, FIDE is again innovating the game, and they’re doing it on #Avalanche. With a global audience of over 500M, FIDE is building on Avalanche to bring chess to Web3. medium.com/avalancheavax/…
— Avalanche 🔺 (@avalancheavax)2:51 PM • Dec 23, 2022
FIDE will use the Avalanche blockchain to create operational efficiencies for players, improve game integrity, and onboard new generations of players. This means...
- Calculating official player ratings on-chain
- Publishing tournament data on-chain
- Releasing a FIDE game explorer, powered by on-chain game data
- And issuing tournament prize pools directly on Avalanche
This is huge. And it solves a big dilemma.
Right now, thousands of people are trying to build "crypto games".
But it turns out, crypto is the easy part. Making an awesome game is the hard part.
The solution? Bring a game that has millions of players and everyone knows about onto the blockchain.
Fun Fact: Not only did the Milk Man go to grade school with Satoshi, but he's a chess Grandmaster and beat Magnus Carlsen when he was 8 years old.
MILKY MEME
"... and then she lost all the money trading with leverage. Anyways that's how I almost saved the world."
— Milk Road (@MilkRoadDaily)11:38 PM • Dec 23, 2022
That's a wrap for today. Stay thirsty & see ya tomorrow! If you want more, be sure to follow our Twitter (@MilkRoadDaily)
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A ROADERS REVIEW
VITALIK PIC OF THE DAY
The only person grinding the Monday after Christmas
— Milk Road (@MilkRoadDaily)4:22 PM • Dec 26, 2022
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.
