August 16, 2023

🥛 We invested 40% of our portfolio in this… 👀

 

Today’s edition is brought to you by Masterworks – invest in blue-chip art today!


GM. This is Milk Road – where the crypto hits just keep coming, and no quarters are required.

Here’s what we got today:

  • We invested 40% of our portfolio in this… 👀

  • An interesting (and fun) web3 concept 🧐

  • Coinbase is expanding to Canada 🍪


WE INVESTED 40% OF OUR PORTFOLIO IN THIS… 👀

Most crypto investors go through the 5 stages of FOMO…

Step 1: You hear some new, weird terminology.

Step 2: You ignore it.

Step 3: You hear it again. But this time, your neighbor made millions from the new, weird terminology.

Step 4: You yell and curse in every language you know.

Step 5: You Google (or ask ChatGPT) what the new, weird terminology means.

The new, weird terminology everyone is talking about now is… liquid staking.

In fact, it’s the fastest-growing sector in all of DeFi and has $21B+ in total value locked.

Source: Messari

What is it? Liquid staking is a way to stake your crypto without having to lock it up.

In return, you receive a liquid token that can be used to do other stuff in DeFi. Think of it as a tokenized IOU.

And since liquid staking has gotten all the hype recently, we decided to take a trip up Figure It Out Mountain™️.

We invested 40% of the Milk Road Public Wallet into ETH and staked it all. There are three goals:

  • Become a liquid staker. (which also happens to be the nickname I had in college for drinking-while-grilling)

  • Earn steady yields on our holdings. We plan on holding ETH for the long term so might as well earn some interest on it.

  • Get a liquid staking token (like stETH) that we can use later to explore the LSD-Fi sector and pursue even more yield. #GoBigOrGoHome

We promised we’d bring you along on the ride too, so we created a Guide to Liquid Staking. You’ll get a play-by-play of where we staked the ETH, how we did it, and a more in-depth analysis of the game plan.

Check it out here.

BILLIONAIRES WANTED IT, BUT EVERYDAY INVESTORS GOT IT FIRST

When incredibly valuable assets come up for sale, it's typically the wealthiest people that end up taking home an amazing investment. But not always…

One platform is taking on the billionaires at their own game, buying up some of history’s most prized blue-chip artworks. Its investors have already realized annualized net returns of 17.8%, 21.5%, 35%, and more.

It's called Masterworks. Their nearly $1 billion collection includes artists like Banksy, Picasso, and Basquiat. When Masterworks sells a painting – like the 15 it's already sold – investors reap their portion of the net proceeds.

Offerings can sell out in minutes, but Milk Road readers can skip the waitlist to join with this exclusive link.

See important disclosures at masterworks.com/cd.

AN INTERESTING (AND FUN) WEB3 CONCEPT 🧐

I was doing some afternoon Twitter doom-scrolling when I came across a cool account…0xDesigner.

They create a new web3 concept, every day. They’ve designed stuff like:

  • “Proof of Work”. It’s like LinkedIn except all work experiences are verified on a blockchain vs. just “trust me, bro”.

  • “Etherscan Dating”. Match with other crypto investors that invest in the same type of tokens, NFTs, and have similar realized profits (or losses).

  • What a Spotify crypto wallet could look like.

They recently created a concept called Staking Registry. It’s a new idea for wedding gifts, with a web3 twist.

Here’s how it works:

  • Friends and family can stake ETH as a wedding gift.

  • As long as the couple stays married, they get to keep the rewards.

  • If the couple gets divorced, the ETH and rewards get redistributed to friends and family.

I know, it’s a crazy and weird idea. But I’m a big fan of this kind of stuff.

Is it the killer use case that will onboard the next million users? No, probably not.

Is it fun? Hell yeah.

And I don’t know about you, but all the crypto talk feels so heavy lately…

Whether it’s the nerdy tech talk no one understands (zero-knowledge proofs, account abstraction, etc.) or the legal stuff (lawsuits, regulations, etc.), it’s all been so serious lately.

It’s understandable. It’s a high-stakes game of money, power, and respect.

But innovation is also supposed to be fun.

The early Microsoft days had Clippy, the original virtual assistant. (and childhood icon)

The early iPhone days had stuff like the “I Am Rich” app. It cost $1000 and had no functionality. It just had a button that would make the phrase “I am rich” pop up.

The early music-downloading days were like a game of Freeze Tag, pick the wrong music file and your computer would freeze.

You get the point.

And we have no doubt that crypto is the next big wave of innovation. But we’re also trying to have fun while surfing that wave.

That’s why we’re fans of people building cool, think “outside-the-box” type sh*t.

So, we wanna know – what kinda crazy, unique crypto concepts do you have? Hit “reply” and email us back with your ideas.

We’ll share a few of the best ones later this week!

BITE-SIZED COOKIES 🍪

Stader Labs is helping to decentralize Ethereum’s blockchain. They scored a 4.3-star rating from the Milk Man due to their ease of use, attractive rewards, and clean user interface.*

Coinbase is expanding its operations into Canada. The crypto exchange will integrate Interac e-Transfers to allow for instantaneous transfers from Coinbase to external wallets.

Nvidia released a new tool, called Nueralangelo, that turns high-quality video clips into virtual 3D models. The tool is designed for video game development, movie effects, architecture, engineering, metaverses, and more.

Prime Trust filed for Chapter 11 Bankruptcy. The popular crypto custodian was placed into receivership by regulators after it was revealed the company was insolvent back in June, now it will move into bankruptcy.

Sei Labs officially launched its new Layer 1 blockchain, Sei. Its native token ($SEI) was also launched on multiple exchanges like Binance, Bybit, etc.

RocketSwap (the second largest DEX on Base) was exploited for over $865K after the teams' private keys were compromised. The worst part: the team ended their announcement with: “We are very sorry for your loss”.

*This is sponsored ad content

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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.