February 4: Crypto Summary
Jump Capital to Solana's rescue. GameStop goes digital, finally.
gm to everyone investing in blue chip crypto
Let’s dive in 👇
Markets
Here are today’s market moves:
Here's what you need to know:
Lost $320m? Thats fine.. we got you covered
If you haven’t heard already, yesterday, the Wormhole bridge, one of Solana's biggest bridges lost $320m in a hack. The loss due to the hack could have sent the network into cascading liquidations arising out of leveraged positions.
But hey! What's $320 million? Jump Capital, a VC, jumped in and pours in the money to replenish that loss.
How is this network considered to be decentralized?
Hey @Jump Capital can you also consider "replenishing" our funds?
GameStop 🤝 Immutable X
First of all, a hearty congratulations to holders of GameStop and Immutable X!
GameStop has announced the launch of its NFT marketplace later this year, which is powered by Immutable X, a blockchain-based platform inspired by the Ethereum cryptocurrency.
Designed by Immutable, the company behind the NFT trading card game Gods Unchained, Immutable X is looking to solve the biggest drawbacks of Ethereum: its massive energy consumption and the high associated “gas fees,” which can add exorbitant processing costs to any transaction.
This is not financial advice. DYOR, obviously.
The Super Smash Bros for the NFT Universe just raised $7 million
This is where NFT + gaming can get very exciting.
Galaxy Fight Club has successfully closed $7 million in a seed and private sale led by Animoca Brands, Sequoia Capital and Skyvision Capital.
Soo…they are a cross-IP, cross-platform (PC+ Mobile) PvP fighting game where holders of different NFT collections can battle with each other to both win and earn rewards through our play-to-earn mechanics.
Similar to Super Smash Bros, what makes this project fun is you have characters from different IPs coming together, you can for example pick a Bored Ape Yacht Club to fight a Crypto Punk!
Our prediction? Like the recent mammoth acquisitions in the gaming, this project has the potential to get acquired by one of the big gaming studios or even a tech giant. Looking at you Google or Apple 👀
Want to know the future of NFTs?
This Twitter thread will give you an overview of the future of several NFT projects and technologies.
We predict that the future of many industries and businesses will be shaped by these NFTs.
Also, if you’re not following our boy Chris, you’re missing out on his simple crypto explanations.
Check this out
Metakays is building fully on-chain and fully customizable NFTs. Woah! Personalized background, hair, eyes, face, body, all up to you with 88 billion unique combinations per NFT 🤯
They are also building a digidex (something like a Pokédex) for all your NFTs.
Not investment advice! DYOR.
Did you hear?
According to the Financial Times, Yuga Labs - the company behind Bored Ape Yacht Club is in financing talks with investment firm Andreessen Horowitz. The BAYC is reportedly raising at a $5B valuation.
Cameo is launching an NFT membership pass and will sell for 0.2 ETH. Holders will unlock access to future live and online events, including parties at the Cameo House in Beverly Hills, meet and greet opportunities, and online Q&A sessions with celebrities.
Crypto lingo of the day
Lambo:
Lamborghini .Usually used in conjunction with "When Lambo?" in translations means "when will my coin go high enough for me to become rich?".
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