gm to everyone finding decentralized opportunities.
YGMI!!!
Markets
Here are today’s market moves:
Here's what you need to know:
Indian government finally acknowledges crypto
During the Union Budget 2022 today, the Indian government announced that crypto will be taxed at 30% of gains. Jesus Christ, that’s a lot! This is the first time the government is discussing crypto taxation.
The tax will apply to all gains on digital virtual assets, and no capital losses will be allowed. Business expenses will also not be allowed.
NFT that has its own unique music
We spotted a different kind of NFT project today.
LXVEWORLD is a project with 10,000 unique avatars with their own unique full length music track! This could be the change that the music industry always needed and artists could earn directly via NFTs.
Pretty cool concept.
DYOR, frens. Not financial advice.
Coinbase has a new Board of Director
In a recent tweet, the folks at Coinbase announced that Shopify’s CEO, Tobias Lütke, is joining their Board of Directors. Lütke will help Coinbase with its expansion plans as the crypto exchange targets newer products that appeal to crypto traders and investors internationally, Coinbase said in a note.
Lütke was also an early adopter of crypto through Shopify’s integration with Coinbase Commerce. It serves millions of merchants in more than 175 countries.
OpenSea screws up…again
Early January, OpenSea’ server goes down for multiple days, then an old bug in their system caused many BAYC holders to sell their NFT for a loss (without them knowing!) and now OpenSea just delisted the official Cool Pets collection instead of the fake one.
Cool Pets is a sub brand of the major NFT project Cool Cats. Every Cool Cats holder can now get Pets that evolve. Your final Pet is one of 17 million possible outcomes. They even have their own world called Cooltopia!
We swear, OpenSea is hosted on an i386 being backpacked around on a llama in the Andes somewhere given all the problems it's had!
None of these projects are sponsored. We just find them interesting. DYOR.
Remember the cool ethical hacker?
On January 30th, we wrote about how an ethical hacker who was also an investor in a rug pull project helped recover more than $25 million of stolen cryptocurrencies!
Today, he shared with us his story on how he did it 👇
Check this out
We intend to keep this section for unique projects/upcoming NFTs/important people to follow in crypto.
Today, we stumbled upon, Gem.xyz, a pretty cool product to analyse upcoming NFTs.
Did you hear?
Meta is introducing 3D avatars to Instagram Stories and DMs - and updating the avatars in Facebook and Messenger, the company announced today.
Phantom has raised $109 million in Series B funding and is now considered a unicorn. The Solana wallet is also looking to support the Ethereum ecosystem by the end of this year, according to CEO Brandon Millman.
Crypto lingo of the day
AMM:
Automated Market Maker. A kind of decentralized exchange platform (or DEX).
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