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In this episode, Brendan McShane discusses Stephen Curry purchasing a Bored Ape NFT, Jack Dorsey building a DEX for BTC, Yield Guild Games $12.5M token sale, and Visa’s NFT whitepaper.
“NBA icon Stephen Curry buys Bored Ape NFT for $180,000”
The Bored Ape has pervious sold for $2,210 and Curry has had multiple offers for the Ape but under the price he purchased it for. Bored Ape has so far had $79M in trading volume in August. Bored Ape Yacht Club has given away $850K to an orangutan charity.
“Square’s Jack Dorsey Plans to Build Decentralized Bitcoin Exchange”
The plan is to build a non-custodial wallet to make it easy to on-ramp/off-ramp. It is described as a decentralized exchange for fiat. It will be built natively on the bitcoin blockchain and will have stable coins.
“Gone in 30 Seconds: Yield Guild Games' $12.5M Token Sale Sells Out Fast”
Firstly, selling out in 30 seconds doesn't mean anything significant. There could have been a presale with a timed release or one custodian with multiple wallets could have made the purchase. However, up to 45% of the YGG token supply will be for the community members and will be slowly released over a period of four years.
“Visa whitepaper describes NFTs as a ‘promising medium for fan engagement”
Professional sports lost around $18 billion in revenue worldwide due to Covid. Visa states that teams should look to diversify revenue streams and look for new growth opportunities. The solution they are looking towards will be fan engaged NFTs.
“FTX Joins Coinbase, Kraken With US GAAP Audit Pass”
This will be a first for FTX because their exchange allows for derivatives trading of cryptocurrencies. Currently, derivatives trading of cryptocurrencies is not legal in the US, hence FTX and FTX.US. Sam Bankman-Fried has stated in the past that crypto needs more regulation to become legitimized.
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