TLDR Crypto Daily Update 2022-05-24

eBay NFTs ๐Ÿ–ผ๏ธ, FTX acquisition targets ๐Ÿ’ธ, lessons from bear markets ๐Ÿป

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Innovation & Launches

GameStop Rolls Out MetaMask-like Ethereum Wallet to Support NFT Marketplace (2 minute read)

GameStop has launched a non-custodial browser-based Ethereum wallet. The wallet lets users store, send, and receive cryptocurrencies and NFTs. It will support NFT trading on GameStop's NFT marketplace when it launches in Q2 2022. The wallet uses Loopring's ZK-rollup technology for cheaper and faster transactions. According to GameStop's privacy policy, the wallet tracks user information such as IP address, GPS coordinates, clicks, mouse position, and keystrokes.

EBay is entering the NFT business, with an assist from hockey legend Wayne Gretzky (3 minute read)

eBay is launching 13 limited-edition digital collectibles in partnership with web3 platform OneOf. The NFTs will contain 3D animated renderings of hockey legend Wayne Gretzky making his signature moves on the ice. OneOf is an NFT platform with more than 80% of its collections coming from minority creators and women-led projects. It plans to release more NFT series with eBay featuring iconic athletes.

Amid Market Downturn, โ€˜Goblintownโ€™ NFTs Have Their Moment (2 minute read)

An NFT collection called Goblin Town reached around $7 million in sales volume over the weekend. The Goblin Town theme represents the current bear market that the NFT sector and crypto are experiencing. There was little hype around the collection's launch. The project has no roadmap, no Discord, and no utility. Some NFT sleuths suspect that Yuga Labs is behind the project.
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Guides & Resources

The Future of Crypto Native Consumer Products (11 minute read)

The world of crypto-native consumer startups is still very young and it's too soon to tell exactly where the next huge crypto products will come from. This article looks at 10 crypto-native product categories that could be brewing the next huge crypto product. The crypto space needs more founders with experience building consumer companies and products that customers love.

Stablecoins are the Trojan Horse that will bring smart contracts to the masses (4 minute read)

Stablecoins are a real-world use-case for crypto that is fully sustainable and rapidly scaling. However, there are still many improvements that need to be made around the user experience and onboarding process. In the near future, institutions will start using stablecoins to transmit dollars. They will then likely require identity protocols, which will lead to them using smart contracts. Retail will likely follow institutions. Eventually, stablecoins and smart contracts will be an integral part of the global economy.

How smaller investors can win in downturns (5 minute read)

This Twitter thread looks at the best and worst performers of the last Bull-Bear-Bull cycle. Most of the tokens in the top 200 today were launched during the bear market. It is best to purchase small caps and tokens launched in a bear market and hold winners during a bull market. When prices start falling, it is best to hold Bitcoin, Ethereum, or cash.
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Miscellaneous

FTX Has Held Acquisition Talks With Webull, Apex, Public.com (2 minute read)

FTX has held acquisition talks with brokerage startups Webull, Public.com, and Apex Clearing. All three companies are registered brokerages with the Financial Industry Regulatory Authority and are able to buy and sell securities on their own or clients' behalf. Webull and Public.com are also allowed to provide securities investment advice to clients. FTX has a history of gaining market share through acquisitions and the company has been pushing to enter into stock trading.

Coinbase is reportedly testing out having employees rate each other in an app with a thumbs up or thumbs down after meetings and other interactions (2 minute read)

Coinbase is reportedly using an app called Dot Collector to get employees to rate each other after interactions. The app has been in use by Coinbase's HR and IT teams since the first quarter of this year. It asks employees to rate their co-workers and managers based on 10 core values, such as communication or positive energy, with either a thumbs up, thumbs down, or neutral review. Staff can only see the ratings they receive.

Korean Police Ask Crypto Exchanges to Freeze Luna Foundation Guard's Assets (3 minute read)

The South Korean police have reportedly launched an investigation into possible embezzlement by an employee of Terraform Labs. They plan to check the details of the cash and crypto transactions of Terraform Labs and the Luna Foundation Guard (LFG) as part of the investigation and have asked major domestic cryptocurrency exchanges to freeze the accounts belonging to the LFG to prevent withdrawals of funds. The request is not compulsory and it has not been confirmed whether the exchanges have complied.

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