The Culture Landgrab | Weekly Recap
Visa & Budweiser buying up crypto culture like degens...what's that mean for us?
Dear Bankless Nation,
I want to draw your attention to three things this week:
YouTube’s gaming lead says NFTs are “self-evident”
This isn’t how I thought Fortune 500 companies would come to crypto but I’ll take it.
We all thought these companies would come to crypto because our stablecoins are awesome or because DeFi yield is so good or because they needed digital gold for their balance sheets.
You know…serious stuff.
Turns out they’re coming for our jpegs.
But this actually makes sense.
NFTs are fun. They’re non-threatening. They’re not coming to disrupt bankers. They’re not promising a reasonable expectation of profits from the efforts of others.
How can a regulator get mad at a Cool Cat?
And culture as an investment isn’t new for companies like Visa—they own many vintage pieces from the early days of finance like paper credit cards and those manual credit card Point of Sale things.
Budweiser too. They were known for being an earlier purchaser of website domains amid the .com bubble. Now they’re doing .eth NFTs. They purchased a Rocket Factory NFT to go along with it.
This won’t stop here.
Every brand, every community, every influencer is going to have an NFT strategy. They’ll buy NFTs for legitimacy. They mint them to supercharge their growth.
“NFTs are self-evident” says the head of gaming at YouTube.
(Btw if you think NFTs are crazy now just wait until the gaming industry shows up.)
This is the early stages of a land grab for crypto culture.
And what’s the epicenter asset of all this?
So much ETH was burnt last week on NFT transactions.
So much ETH was used as money.
No wonder Raoul Pal called Ethereum “the greatest trade in the world” when we recorded our Bankless episode with him—btw that podcast will be available for Premium members early… sometime this weekend. 🔥
I can’t wait for next week…
Podcast with Raoul Paul who turned into a full ETH bull since we last spoke
We show you how to connect your ENS name to a .com (new functionality!)
Ben’s doing a guide to multi-chain yield farming
Enjoy the weekend.
Recap for the week of August 23rd, 2021
🎙️ WEEKLY PODCAST EPISODE
🧠 Level up with the exclusive debrief episode for The Crypto Coalition.
ACTION RECAP 📚
Execute any good market opportunities you saw in Market Monday
Learn how to fractionalize NFTs 🔥
Research The Liquidity Singularity
Predict whether NFTs will flip DeFi
WATCH & LISTEN 🔊
🎙️ Listen to The Crypto Coalition | Ryan Selkis
📺 Watch NFT Mania | Andy8052 & DeeZe
📺 Watch Layer 0: Dmitry Buterin (New podcast series!)
BANKLESS DAO 🏴
Weekly Subscriber Perks 🔥
Bankless Premium Members get access to perks like these:
Launch your own raffle for Bankless Badge holders! Go ahead. We can’t stop you…
We’re now live streaming State of the Nation—join us at 2pm EST every Tuesday!
🗞️ Latest Weekly Rollup.Download the crypto meta to your brain in this weekly show.
Jobs opportunities 🧑💼
✨ See all listings on the Bankless Job Board✨
🙏Thanks to our sponsor
Balancer is an automated portfolio manager and liquidity protocol allowing you to deposit capital and earn a passive income on your portfolio. With Asset Managers, Balancer V2 takes this idea to a new level by leveraging smart investing strategies to maximizes your APY at all times. Welcome to the future of programmable liquidity—earn, trade, and build new applications on Balancer V2. Check it out here.
Sponsorship paid for by Balancer Labs🚀
Tag Bankless on twitter and tell us how you’re going bankless for 3 x 🔥
Download the whole week in Bankless in <10 mins with tl;dr.
Want to get featured on Bankless? Send your article to email@example.com
Not financial or tax 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. This newsletter is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.