⚡️Weekly Crypto Newsletter 1.30.22

Enjoy industry highlights and more.

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General News

President Putin Supports Crypto Mining

• President Putin backs Russian governments proposal to tax and regulate mining of cryptocurrencies, rejecting the central bans proposal to ban it completely.

• Russia is the 3rd biggest miner after Kyrgyzstan.

• Russia Central Bank’s press service criticized the Finance Ministry proposal to allow crypto in some cases. They said, “a huge risk to financial stability through which banks and other market participants could infect the entire financial system.”

Opinion: BTC enthusiast have been salivating at the prospects of a global hash war. Putin maybe setting the stage by normalizing and regulating the practice of mining. We’re already seeing Latin American nations embracing BTC as legal tender. The next logical step would be to begin national mining operations. This would be an easy way to monetize their natural energy resources without needing to export.

GameFi

ARBO: The Immersive Real Time Sci-Fi Adventure

Investors: Zee Prime, Golden, Orthogonal

Angle Investors: Fiskantes, Convex Monster

Team: Will be introduced individually in the future. Broadly speaking it includes award winning artists, Hollywood writers, and innovative game architects. Collectively the team has experience with art projects, film, animation, video games and blockchain applications.

This NFT based game is being produced by Reblink a multi-platform entertainment franchise. They’re are well capitalized and as mentioned above have a diverse team with extensive experience. They’ll get another capital injection from this sale and ongoing royalties as their NFTs are traded on the open market. They’re having a sale for early supporters who’ve made reservations. Follow them on Twitter or join their discord if you’re interested in the public sale. Full disclosure I reserved and bought a few packs over the last week.

Their vision if realized will enable users to own NFTs which reward them with access and utility. In their nuanced model users and to a smaller extent the observers will impact the storyline. In addition to this evolving game format they plan to adapt all Reblink properties to other media formats like TV series, films, and graphic novels. The objective is to create a strong fanbase.

Assuming they’re able to generate demand I foresee users borrowing genesis NFTs to play the game. Also, most successful GameFi projects introduce a governance token at some stage of development. This means early investors have the potential to earn passive income, receive valuable airdrops, and receive tokens. I remember receiving a $10K airdrop for just holder my Watchers NFT I bought for 0.1 ETH. Today the Watcher is worth close to 17 ETH. This project may not replicate the same performance but it’s been a while since I’ve been intrigued by a GameFi project on Ethereum.

Website

Medium

DeFi

Secret Network Receives $400M Ecosystem Fund + Accelerator Pool

• The fund will be used to catalyze their growth initiative call Shockwave. The goal is to “solidify their network as a critical pillar and data privacy hub for Web3.

• Top-tier investors like DeFinance Capital, Alameda Research, CoinFund, and HashKey lined up to contribute.

• Additionally the fund will be directed towards expanding the networks application layer, network infrastructure, and tooling.

• The accelerator pool is designed to provide non-dilutive capital, grants, and ecosystem incentives to bootstrap user adoption.

• Reputable firms in Web3 have acquired substantial SCRT positions and are eager to support the network.

Opinion: With market participants returning back to risk off, this news has had little material impact on SCRT’s price. Unless you think the market has topped this would be a good time to begin scaling into a position. I recently rotated a portion of my ATOM/OSMO and LUNA/OSMO position into SCRT/OSMO. I don’t expect to see fireworks until Q2 but once market confidence is restored this trade maybe front run. I remember during the summer AVAX tripled on the announcement of an ecosystem fund. Also, after Biden announces his executive order I anticipate an acceleration in privacy related development in Web3. Secret stands to benefit a lot from the regulatory tailwind and it now has funding to accelerate growth.

Hot Projects

MELT: Defrost Finance is a fair launch project that allows users to leverage their LP token as collateral to mint H20(stablecoin). The thread that influenced my decision to buy is linked below.

Multi-Chain Maximalist (∞) @BillyBobBaghold

$MELT @Defrost_Finance thread @Defrost_Finance is a combination of @MIM_Spell and @Platypusdefi on $AVAX. Although we got in at $600k - $800k 1 week ago, it’s still crazily undervalued at a MC of only $2m. 1/n

I don’t expect to hold this trade long and will derisk the first chance I get.

VADER: I managed to derisk from this token before its big drop. I’m looking to scale back in because they just began minting USDV on 1/29. To mint these stablecoins users must burn VADER. If the launch is successful and the general market sentiment flips I’m expecting positive price action.