GM. This is the Milk Road, the crypto newsletter that always looks out for you. We’re the sibling that signed your name on the birthday card.
Let's get after it, here's what we got today:
- Tai Lopez and Radioshack’s bold web3 strategy
- Big crypto VCs thoughts on the current market
- Looking to rent a Bored Ape?
- Meme of the day
RADIOSHACK SAID WHAT....?!
You might remember RadioShack. The 100-year-old brand that used to sell everything tech-related. They were like the Home Depot of Tech.
Well, they went outta business and recently got acquired by Tai Lopez.
And just like any other failed Web2 business, RadioShack is now pivoting into Web3.
That's right, Tai is trying to take the RadioShack brand and turn it into a decentralized exchange.
It's basically just a copycat of Uniswap (one of the most popular decentralized exchanges).
There's one key difference: Uniswap has billions of dollars of volume and Radioshack has $85k. Oof.
So now RadioShack is looking to make headlines by doing something else, tweeting wild sh*t to go viral.
Just look what they tweeted yesterday (it's NSFW):
Everyone thought the account had gotten hacked, and the tweet got deleted (shocker).
But then, RadioShack struck again and doubled down.
This time doing their best Connor McGregor impression: “I’d like to apologize… to absolutely nobody!”
The Milk Road's Take: One of the best ways to go viral is to trigger people. But this ain't it! We're shaking our damn heads...
KYLE SAMANI: HOW TO SURVIVE THE BEAR
Kyle Samani is running one of the most successful crypto funds out there, Multicoin Capital. I mean seriously, just look at these returns...
Source: The Generalist
Kyle recently sat with CoinDesk to talk about his mindset during these times. Here are the best nuggets:
How to handle big losses and regret of over-investing
It’s extremely important to be ok with losing money. It happens to everyone and it will happen to you at some point. People who are worried about losing money will underperform.
Multicoin has made some big gains, but those also come with big losses.
The first NFT project they ever invested in was Loot, a text-based game. They’re down 95%+ on that investment right now. But Kyle ain’t worried about nothin’.
Thoughts on the latest trends
Kyle doesn’t follow trends. If it’s already a trend, he probably isn’t interested in it. Simple as that.
His goal is to find things before they become a trend.
How? He spends all day talking with builders/developers to get insights into what they’re seeing (Aka follow the nerds)
The biggest difference between the Web2 and Web3 mindsets
The fact that you can contribute to something and make money doing it. This is super important.
Helium is a great example of this - early contributors did things that led to the success of Helium, and made money from it too.
On the type of people that “make it” in crypto
Be long-term oriented & ignore the noise.
The reason Multicoin has been so successful is because they ignore what everyone else says to do. Everyone told them to sell their Solana and buy Ethereum…
But Kyle stuck to his gut and beliefs in Solana early on. He even doubled down on his conviction and bought more. It’s their best investment to date.
Last but not least, here’s the single most important thing Kyle says to do:
Do not look at the price.
Oops, sorry we have that at the top of every email! Just close your eyes from now on 😂
TODAY'S NEWSLETTER IS BROUGHT TO YOU BY FRANSHARES
What do Lebron James, Robert De Niro, Rick Ross, and Phil Mickelson have in common?
They all invest in franchises.
Instead of shelling out a kidney to purchase your own franchise, Franshares gives you the ability to invest courtside with a tub of popcorn.
Some of the high points:
- 100% passive income. FranShares takes care of all management
- Each offering is diversified across industries and geographies
- A unique opportunity to hedge against inflation with a unique real asset
The Franshares team only chooses franchises that have a long track record of success so you know you’re only investing in quality businesses.
As stocks are more wobbly than 57-year-old couples at Margaritaville, franchises are the new frontier.
LOOKING TO RENT A BORED APE?
Bored Ape Yacht Club is the top NFT project out there by almost every metric. They’re la creme de la creme.
One of the reasons why? Because the holders own the IP. Which means they can build businesses and brands around it.
But there are two problems:
1/ Building a business or brand around anything is hard
2/ They're expensive! It'll cost ya an arm and a leg. The cheapest is going for ~$100k.
Now introducing BoredJobs - an NFT licensing marketplace for Bored Apes. They're basically an agency that matches business with Bored Ape holders to license the IP out.
There are two cool things about this:
- Owners can rent out their Apes to brands without the headache of logistics
- Brands and business can hire an Ape without spending big money
Here are some things we’ve seen people do with their Apes:
The Milk Road’s Take: Bored Apes are like the Rolexes of crypto right now. So it’s pretty cool that there’s now a marketplace that helps license them out.
Who knows, maybe you’ll see one of them featured at the top of the Milk Road one day.....just so we can say we rented one for a day!
OpenSea has reported a big data breach - one of their vendors' employees downloaded and shared all email addresses with a 3rd party. Stay safe out there friends and double-check all links before clicking them!
Three Arrows Capital has been ordered by the court to liquidate its assets. The troubles continue.
Michael Saylor buys another $10m worth of bitcoin. While others panic, Big Mike loves buying the dip.
Nubank, Brazil's largest bank, has rolled out Bitcoin buying features to all 54m customers. The kicker? Warren “I-Wouldn’t-Touch-Bitcoin-With-A-10-Foot-Pole” Buffett invested $1b into Nubank earlier this year.
Coinbase adds Solana staking rewards to their platform. Users can earn passive yield as high as 4%.
MEME OF THE DAY
Stay thirsty my friends, 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.
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