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Here’s what we got for you today:
- Limit Break pays $6.5m for a Super Bowl ad
- How's Ethereum doing 1 month post-merge?
- Funding Friday
- Meme of the Day
LIMIT BREAK PAYS $6.5M FOR A SUPERBOWL AD
The Super Bowl. America's biggest sporting event.
The day you can eat a 9-layer nacho dip by yourself and nobody can judge you. Here are some reasons why people watch it:
But 100% of people tune in for 1 thing: the ads.
And Limit Break, an NFT blockchain gaming company, just paid BIG money to feature one of their NFT projects, DigiDaigaku, in one of those Super Bowl ads.
It's the first blockchain game to buy an ad during the Super Bowl and they're paying $6.5M for a 30-sec commercial(~$216k per second of airtime). Sheesh.
So, is this a good idea? Or a giant waste of money?
Let’s take this to court:
THE DEFENDANT: Fictional Gabe Leydon, CEO of Limit Break
THE PROSECUTOR: Yours truly, the MilkMan.
Milkman: Mr. Leydon, is it true that you’re running a super bowl ad?
Fictional Gabe Leydon: Yes! It’s going to be great! 50 million people watching!
MilkMan: Congrats. Now, Mr. Leydon, this isn’t your first time running a Super Bowl ad…is it?
Fictional Gabe Leydon: That’s right! I’ve done this twice before for my mobile games. Games of War and Mobile Strike. It was a hit!
MilkMan: Indeed… indeed *paces slowly around the courtroom*....But Mr. Leydon. Those were a part of your previous company. Machine Zone. Correct?
Fictional Gabe Leydon: That’s correct.
MilkMan: And would you say that Machine Zone was a…success?
Fictional Gabe Leydon: We sold the company for a reported $500M.
MilkMan: But that’s not what your investors expected right?
Fictional Gabe Leydon: *visibly uncomfortable* well..you know… $500M is nothing to scoff at.
MilkMan: BUT didn’t your company raise $725M? So you raised $725M to make $500M?
Fictional Gabe Leydon’s Lawyer: OBJECTION! Leading the witness!
Judge: Milkman, make your point.
MilkMan: OK Ok. My point is this. $6.5m is a lot of money.
And sure, if they get $60m+ in trading volume from it, it's basically a free ad from all the royalties they'll make.
But personally, we're fans of building the game first and then pouring money to market the sh*t out of it.
But hey, to each their own. It is their money and they did raise $300m to go big...and that's exactly what they're doing.
**The court scene fades to black**
HOW'S ETHEREUM DOING POST-MERGE?
1 month. That's how long it's been since the biggest event in Ethereum history...
The Merge. And boy, was there a TON of hype around it. Even my mom was asking how she could buy tickets to see it.
Then the Merge happened and everyone left the Ethereum party. So, it got us thinking...
How's good ole' Ethereum doing nowadays? We took a look under the hood to see what was really going on.
- The supply of ETH has been decreasing for 6 straight days. Since October 8th, ~6100 ETH (~$8m) has been burned from the total supply
- 15m+ ETH is being staked (~12% of the entire ETH supply)
- ETH issuance has gone down by ~98%. Since the Merge, only ~7k new ETH have entered the supply. The yearly issuance has gone from 3.66% --> 0.07%
Sure, the price of ETH might be down but the supply has been decreasing, issuance is down, and more ETH is being staked every day.
Double thumbs up from V.
TODAY'S EDITION IS BROUGHT TO YOU BY FLOOR
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The Floor app is unlocked by an NFT, and following partnerships with Doodles & PROOF — Milk Road readers have the next 3 days to mint a free Floor App Pass and get access to the app here.
Each Friday we give you a rundown of Web3 companies that got funded during the week.
This week, we saw ~$468M get invested into crypto companies & funds. Here’s who got the money:
Uniswap got $165m to continue building the largest decentralized exchange on Ethereum.
Tatum got $41.5m to build a platform for developers to build, test, and run blockchain apps. Tatum builds for devs, devs build for us, the circle of life.
SettleMint got $16m to build a low-code platform for blockchain applications. 10/10 for the company name.
Waterfall got $4m to build an NFT prediction market. It's time to replace NFL parlays with NFT parlays.
Moon Mortage got $3.5m to offer crypto-backed mortgages.
If you wanna check out the complete database of companies that have raised money in 2022, we got 'em for you right here.
MEME OF THE DAY
That's a wrap, ladies & gents. Stay thirsty & see ya next week!
If you want more, be sure to follow our Twitter (@MilkRoadDaily)
VITALIK PIC OF THE DAY
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.
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