GM. This is the Milk Road, where we teach you how to look both ways when crossing the streets of crypto so you make it safe & sound.
Estimated read time: 3 minutes and 38 seconds
Here's the good stuff for today:
- 🖼️ A new chip that makes your physical items into NFTs
- ♟️ Play chess, earn money
- 🥛 Quick nuggets
- 🤣 Meme of the Day
Extreme fear, eh? Maybe time for the Milk Road piggy bank to start buying…
AN NFT CHIP TO PREVENT FAKE GUCCI BAGS?
Check this out. A startup called Americana is selling an “NFT Chip” that will turn real-world luxury items into NFTs.
Imagine you own a $350,000 painting.
Americana wants to give you an NFT chip that you can put on your painting. Now anyone can scan it to prove this is an authentic painting (not a fake). It also turns the painting into an NFT that you can show off online, or sell on a marketplace.
Pretty cool. I believe that in the next 30 years, we’re going to see every asset (real estate, art, wine, shoes etc..) sold & stored digitally.
Why do you want an NFT for your luxury assets?
- To prove it’s not fake
- To easily buy/sell the asset online
- To pay a royalty back to the original creator every single time it sells
This is a cool step in that direction. (though I’m not sure how they prevent someone just stealing the chip..? Silly me, getting caught up in the details)
A GOOD OL' LAUGH
NFT CHESS IS HERE
Here’s a dilemma.
There are thousands of startups right now trying to build “crypto games.”
Crypto is actually easy. Making an awesome game is really really hard.
So what if you could use a game that’s been around for 1,500 years and has over 1B players?
That’s what Immortal is doing. They took chess, and are adding crazy NFT shit (yep, that’s the scientific term) to it. This isn’t an ad btw. I just think the idea is cool. TBD on the execution.
Here’s how it works:
- You play chess
- If you win, you earn GMT (Grand Master Token)
- You get more tokens if your opponent is strong, or you do cool techniques (“eg. win without losing a bishop”)
- More tokens = higher rank (grand master) in the game
Will I be playing? Well… no. My brain is more of a “checkers” level IQ. I’ll leave chess to the geniuses.
8 PIECE O' NUGGETS
Hop Protocol announced they are doing an airdrop. Yum Yum. If you used Hop, you should see some free tokens in your wallet soon.
Strike is releasing a new product that will help fight spam emails. You basically create a new email on their platform and then set the price you want people to pay to email you. They can’t send unless they pay that fee.
The digital asset fund weekly report is in: a total of $120M left the crypto market. Bitcoin actually saw a $132M sell-off for the week - the highest single week sell off since June 2021.
Facebook is getting sued by a crypto company for their new Meta logo. Dfinity says that Zuck stole their swag. We’ll let you check out the logos and be the judge of this one!
OKX, a crypto exchange, is now the official sponsor for the F1 McLaren Racing team. The deal is reported to be worth hundreds of millions of dollars, making it one of the biggest crypto deals yet.
The FIFA World Cup has a new crypto sponsor: Algorand blockchain. They are now the official blockchain for FIFA, which could include making NFTs down the line. The Algo token shot up ~20% after the news
The SEC is almost doubling the size of their crypto investigations unit. You’d think we’d be in good hands now, but it seems this team is gonna be more focused on enforcing crypto regulations than actually protecting us from hacks and scams. Even the SEC commish tweeted against it.
Gatorade files for new metaverse trademarks that include virtual beverage products. Looks like you’ll never get dehydrated in the metaverse.
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MEME OF THE DAY
I bet McKinsey is out there selling $5m consulting packages right now
See ya tomorrow!
A Review from the Road...
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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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