#008 Digital pets that can disappear forever
From cloud nations to the spiritual return of Tamagotchi, blockchain and NFTs becoming real is just a matter of time.
Making it Real
REAL-LIFE USE CASES OF DIGITAL ASSETS
When presidents tweet about Bitcoin. El Salvador now accepts BTC as legal tender and they even hold 400 BTC! Their president tweeted about it. How’s that for practical use cases? See the tweet here >
What if we had cloud countries? A popular crypto supporter, Balaji Srinivasan, wrote an article on establishing new countries and argues for his preferred method—a cloud country. See how that works >
Banks make Ethereum price predictions. Are we still questioning the legitimacy of blockchain and crypto? When an institution like Standard Chartered is predicting Eth to go up to $35,000, I don’t think there’s room for doubt anymore. See it here >
Experiments everywhere. What if you had to feed, play, and clean after a virtual pet or else it ends up getting deleted forever? That’s exactly the experiment launched this week called WAGMIGOTCHI. So far, the internet has spent >$50,000 to take care of this NFT pet while getting nothing in return except for ‘LOVE’ tokens. Feed it >
Game for the rich. An NFT project sold for $1.15Mn. But there’s a catch—the buyer can pray the NFT increases in value or they can choose to give it back to the creator and get their money back with a bit of return. That second option is only available until October 31 though. Read it here >
Learn the tech
IF YOU WANNA GET TECHNICAL AND GEEKY
Minting NFTs 101. Ever wondered how exactly you get your hands on NFTs? It’s actually a pretty involved process assuming you don’t just buy it off from an online marketplace. Here’s a really good guide on how it works >
Know the legals
BECAUSE HOW THE LAW TREATS DIGITAL STUFF (UNFORTUNATELY) MATTERS
Looming legal battles. Coinbase is aiming to provide 4% interest rate on USDC as part of their yield product, Lend. However, it looks like the SEC has threatened to sue if to push through with it. Seems like Coinbase might be willing to go to court. See the drama here >
Audits and KYC. As adoption increases and more funds flow into crypto projects, ensuring safety and compliance become more important. One way to do so is through audits of a project’s code. When money is involved, KYC (Know-Your-Customer) is a requirement for anti-money laundering laws. See an overview here >