Did the Apes just Poke the Bear?
Gensler v. ApeCoin. Hello, Miami. And Yes, You're Being Tracked.
👋🏽 Hello everyone, gm gm, WELCOME BACK to another edition of the Overpriced JPEGs newsletter, where we’re catching you up on the world of web3, NFTs, and the metaverse.
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🧸 Staking ApeCoin, Unless you’re in America, Russia, Cuba, Iran…
U.S. among list of countries geo-blocked from staking ApeCoin
There are easy ways to bypass it & ApeCoin itself has not-so-subtly hinted at them
Is Yuga poking a bear? Gensler’s stance is clear: proof-of-stake crypto tokens are securities & in a turf war with the CFTC he wants to emerge calling the shots
Gensler’s in the hot seat after missing what was happening at FTX; he’s likely on the hunt for a high-profile win
Meanwhile, white label marketplace provider Snag Solutions, beat out bigger players to build the custom site for Yuga’s (non-Punk/Meebits) NFTs
If you’re new here, we welcome you to join 147,122 bright + avid readers by subscribing here:
🦊 The Privacy Paradox
MetaMask developer ConsenSys clarifies their policy on collecting user data - sparking some frustration
The policy applies only to users of MM’s default RPC (hint: if you had to google RPC, they’re collecting your data)
Despite confusion, Joe Lubin reminds us: web3 still > web2
Cardano’s IOG reveals Midnight, a privacy-focused blockchain
CZ chimes in: someone, somewhere, is always collecting (and selling) your data
💵 Puttin’ the Money in Gmoney
Gmoney doxxed this week & introduced asset lending program to unlock liquidity for physical goods
“‘Let’s say a pair of Jordans are sitting in your closet. The only way you can access capital without selling them to somebody is to go to your local pawn shop, which is going to give you an insane loanshark rate,’” gmoney [explains over Zoom.] ‘By creating 24-hour liquidity with NFTs, a Jordan expert living in Southeast Asia can agree to a loan.’”
🐳 Art Basel: 20th Anniversary Edition
Miami club owners breathe sigh of relief as
whale seasonArt Basel returns this week w/record number of galleries and art for rich people
Here’s your party cheat sheet, events with a digital art focus, and token-gated shindigs
Tezos artist Quasimondo minting AI portraits of attendees in real time exhibition
Prep for your trip (or curb your FOMO) by learning the history of Art Basel and how digital artists kicked off a revolution
Belgium declares BTC, ETH + other cryptocurrencies are not securities
Fidelity tosses crypto a lifesaver; offers retail Bitcoin trading accounts
Several State regulators investigate Genesis Capital for security law violations
Crypto-focused firm Hodl Law PLLC sues the SEC; alleges failure to: 1) Clarify jurisdictional authority over digital assets; and 2) Define whether digital assets are securities
Putin calls for blockchain-based international payment system independent of banks + external interference
New Yorker dropped a lengthy profile on Yam Karkai + WoW’s evolution
Home Depot + Ticketmaster register NFT / web3 trademarks
Ticketmaster, which recently enabled NFT tickets, registers NFT & web3 trademarks
Lawyer argues T-Swift concert tickets are securities + Ticketmaster should register w/SEC to enjoy the “robust investor protections of crypto markets” 🤣
Big week for DeGods as they drop staking + Frank doxxes
Manifold royalties aren’t being enforced on OpenSea; leaving folks confused
TIME’s Keith Grossman leaving legacy media to lead web3 onboarding firm MoonPay
Twitter alternative Post News gets a16z funding
Grand Theft Auto maker Rockstar Games bans crypto & NFTs from its “role play servers” (fan- and developer-made GTA spinoffs)
Apple said to have blocked updates to Nouns App for externally linking to NFTs
ICYMI: AOC and Elon seem to have made up this week 😉
As far as project founders go, Frank from DeGods is the total package. He’s hungry, business savvy, and oozes vibes - it’s no wonder he’s built the #1 project on Solana and doing sizable volume even by ETH standards. In this banger of an episode, Carly and Frank chat for a meaty 2 hours about the possibility of deGods and y00ts moving to ETH, how to build hype for a project, and what constitutes a rugpull.
No recap last week, but in the spirit of Giving Tuesday, Crypto for Charity’s Ben Simon offers tips on how (and why you’ll want) to make those end-of-the-year charitable contributions in crypto over cash.
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A bad look linking to discredited professional trolls like Jeremy Cahen.