Hey there! Another week in the world of crypto has flown by. We hope you crushed it!
At M6 Labs, we keep our community in the loop with the latest crypto insights and news. Check out this digest for the juiciest bits, served up quick and easy.
Meme of the week:
Amazon enters the NFT game…
Let's dive in! 👇
1️⃣ Coinbase Went On A Shopping Spree
What does this acquisition mean for Coinbase and the crypto industry?
So Coinbase just bought One River Digital Asset Management, a financial services and asset management company.
This is a pretty sweet move for Coinbase as they're now targeting institutional investors. This could help them out on the regulatory side, give them more capital to work with, and expand their network.
Coinbase is already killing it with their fourth-quarter revenue being $629.1 million, and having 8.3 million monthly transacting users.
One River Digital Asset Management is also legit as they're an SEC registered investment adviser and Commodity Pool Operator.
Plus, they offer some cool services like long-only strategies in Bitcoin and Ethereum, two indices, and trend following, income, and credit services.
Keep reading 🍿:
2️⃣ A Deep Dive Into Fantom
Let's 'Spook' Our Readers Out By Diving Into the World of Fantom
Fantom uses a blockchain model based on Directed Acyclic Graphs (DAGs) that aims to overcome the limitations of traditional blockchain technology.
Fantom was founded in 2018 and aims to provide a cheap, fast, and secure transactional platform for smart contracts and digital assets.
It uses a consensus mechanism called Lachesis, which has the advantage of being asynchronous, final, and leaderless. The network is highly secure, and transactions can be completed in a fraction of a second.
The primary token on Fantom is FTM, which is used for payments, governance, staking, fees, and network security.
Staking FTM can earn rewards, and it's super easy to do from your phone or computer.
Keep reading 🍿:
3️⃣ World Changing: Amazon Enters the NFT game
Yes, it's a very big deal. Here's what you need to know.
Amazon, the big boss of the business world and the first company to reach a trillion-dollar valuation, is jumping into the NFT game!
This could revolutionize the way customers access their Prime and AWS subscriptions, as well as create new revenue streams through NFTs.
And what's their game plan, you ask? Well, it's pretty simple, my friend. For one, No account sharing = more unique users. Also, additional revenue streams are on the table, through royalties on secondary Amazon NFT sales.
But hold up, Amazon isn't the only one trying to ride the NFT wave. Starbucks, the coffee king, has tested reward NFTs on Polygon, and Reddit's avatar NFTs have helped onboard 2.5 million new crypto enthusiasts.
But let's be real here, Amazon's got the potential to onboard a whopping 300 million crypto users, which is way more than any other company that's tried NFTs before.
Keep reading 🍿:
4️⃣ Unpopular Opinion: ETH is Totally a Security (Basically All of Crypto Too)
Mental Models for Crypto Investing
We discuss why Ethereum and other cryptocurrencies need to be treated like securities and regulated by the SEC (as the name suggests, we realize this opinion is unpopular!)
Back in the day, the lack of regulation in the 1930s led to the Great Depression. That's why we have the SEC today, to protect investors and make sure things don't get out of hand.
Now, most cryptos are investments in a technology or project, with investors expecting a return on their investment.
Sound familiar? That's because Initial Coin Offerings (ICOs) are basically the crypto version of Initial Public Offerings (IPOs).
So, why not have a little regulation in the crypto space? Let's keep things in check and make sure everyone's playing by the rules.
So, there you have it. Don't be afraid of a little bit of regulation, folks. It might just be what the crypto world needs to reach its full potential.
Keep reading 🍿:
5️⃣ Unpopular Opinion: Centralization is the Future, Not Decentralization
Mental Models for Crypto Investing
Sure, decentralization sounds great for us individuals, right?
We can have more control over our assets and transactions, without any interference from the big dogs.
But the problem is that decentralization is immutable, which means once something's on the blockchain, it's there forever. That's not exactly practical for everyone.
That's where centralized exchanges come in.
They offer more convenience and customer support, making them more attractive to the general population.
It's like having a bank that you can actually talk to when things go wrong.
At the end of the day, it's the masses who decide what they want to use.
And let's face it, decentralization might not be the most popular choice for everyone.
Centralized exchanges offer a more familiar and comfortable experience for many people. So, it's unlikely that decentralization will become the dominant model.
But who knows what the future holds? Maybe we'll see some new advancements that make decentralization more practical for the masses. Only time will tell!
Keep reading 🍿:
6️⃣ A Deep Dive Into Thorchain
We explore the Innovative Approach of this Cross-Chain Swap Protocol
THORChain is a decentralized cross-chain liquidity protocol that lets you swap crypto assets without any middlemen getting in the way.
It runs on the $RUNE token and has a whole ecosystem of 41 apps and services. Plus, it's got some pretty sweet features like Continuous Liquidity Pool, Governance, Liquidity, Incentives, and Security.
It's basically got everything you need to make sure your transactions are secure and smooth.
The $RUNE token is super important & packs some serious value. It powers the whole THORChain ecosystem and its price is based on liquidity in the network, with a multiple or premium of that deterministic value.
And get this, THORChain is expanding even more with new features and integrations coming in 2023. So, keep an eye out for what's next!
Keep reading 🍿:
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