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Myth Of Money: Top NFT Picks of the Week
Welcome to this week’s edition of the Myth of Money, a weekly newsletter on all things money, economics and technology read by 10,000+ investors, curated by Tatiana Koffman.
Disclaimer: The following is not intended as investment advice. Do your own research.
This week I decided to feature a few of the interesting NFT projects out there that have been referred to me by the community. The dominant theme is gamification and collectibles. These have been appreciating in price daily, but remain a risky investment. As always #DYOR.
NFT Picks of the Week 💰
Stoner Cats - Stoner Cats is an adult animated short series centered on five house cats who mysteriously become sentient. With their *higher* consciousness, they realize that their beloved owner, Ms. Stoner, needs rescue from a myriad of dangerous situations. Available on OpenSea (ETH-based).
ON1 Force - he 0N1 Force are 7,777 generative side-profile characters with over 100 hand-drawn features fighting for their existence. Strength, spirit, and style are what you’ll need to survive in The Ethereal Enclave. Available on OpenSea (ETH-based).
Degenerate Ape Academy - responsible for much of the price appreciation we are seeing on Solana.
Waves Ducks - Waves Ducks is a game focused on collectible digital duck images in the NFT format. Runs on Waves.
Sollamas - I missed the pre-sale on these, but I have a feeling these will do well :) Launched on… you guessed it, Solana.
What’s in your collection??
This Week By the Numbers 📈
Top Stories 🗞
Microsoft is looking to use the ethereum blockchain to prevent piracy
Software giant Microsoft is looking to use the ethereum blockchain to combat digital piracy by relying on the network's transparent and decentralized nature, according to a new paper released by the firm's research department. The Redmond-based company is exploring a new concrete system named Argus, which Microsoft dubbed as the "first public anti-piracy system." In the 11-page paper, Microsoft - together with researchers from Chinese e-commerce behemoth Alibaba and Carnegie Mellon University - laid out the design, implementation, and evaluation of the new system. Read Full Story.
Coinbase will plow $500 million into crypto to boost its balance sheet - and bet 10% of future quarterly profits on digital assets
Coinbase CEO Brian Armstrong announced on Thursday that the cryptocurrency exchange will add $500 million of crypto to its balance sheet, and allocate 10% of its future quarterly profits to growing its holdings. "We recently received board approval to purchase over $500M of crypto on our balance sheet to add to our existing holdings," he said in a tweet. "And we'll be investing 10% of all profit going forward in crypto. I expect this percentage to keep growing over time as the cryptoeconomy matures." Coinbase's chief financial officer, Alesia Haas, said the company's updated investment policy reflects its belief in crypto adoption and utility. "This means we will become the first publicly-traded company to hold ethereum, proof of stake assets, DeFi tokens, and many other crypto assets supported for trading on our platform, in addition to bitcoin, on our balance sheet," she wrote. Read Full Story.
Wells Fargo Launches Passive Bitcoin Fund for Wealthy Clients
Wells Fargo on Thursday registered a private bitcoin (BTC, +0.91%) fund with U.S. regulators, becoming the latest mega-bank with an indirect crypto investment vehicle for its wealthiest clients. A source familiar with the matter told CoinDesk the new fund is passive, a break from earlier reports that Wells Fargo would pitch wealthy investors with an actively managed offering. NYDIG and FS Investments are partnering with Wells Fargo on the offering, according to regulatory documents; the pair have worked together on bitcoin funds before. Wells Fargo gets a cut of sales through two subsidiaries. The new fund, FS NYDIG Bitcoin Fund I, LP, did not have any sales as of Thursday. JPMorgan's passive bitcoin fund was also filed with the Securities and Exchange Commission Thursday. As CoinDesk previously reported, it is also a partnership with NYDIG. Read Full Story.
Galaxy Digital Launches DeFi Index Tracker Fund
Announced Thursday, the Galaxy DeFi Index Fund seeks to provide institutional investors access to returns based on the performance of DeFi tokens. It offers exposure to major decentralized lending and exchange platforms like Uniswap, Aave, Maker, Yearn and others. The fund is seeded by NZ Funds, a wealth management firm that manages over $2 billion of New Zealanders’ savings. (The amount being contributed to the DeFi index fund was not made public.) Read Full Story.
Thank you for reading this week’s edition of the Myth of Money.🚀
Until next week,
By Tatiana Koffman
Hi there and thanks for reading. If you stumble upon my newsletter, you will notice that I write about money, economics and technology. I hold a JD/MBA and spent my career in Capital Markets working across Mergers & Acquisitions, Derivatives, Venture Capital and Cryptocurrencies. I believe in empowerment through closing the financial education gap and creating equality of opportunity for the next generation. Check out my articles in Forbes here.
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