8️⃣ Bored Apes SOLD to the Metaverse

Sat sri akaal, this is the doodhwala, we’re the adult version of that chocolate milk you had as a child – doodh is the secret of our energy. 💪

Here’s what we got for you today:

• 🙈 $1.3 million BAYC sold for THIS?!

• 🤨 Bitcoin on Ethereum...still a thing?

• 📊 BNB goes up THEN down

• ⛑️ Crypto’s earthquake rescue job

• 🤣 Milky Meme of the day

Markets are green, let's hit it! 💪

$1.3 million BAYC sold for THIS?!

Some social media players will def do better with NFTs than others.

Reddit did this first, and this social media site you barely think of is doing this with NFTs and the metaverse 👇

9GAG.

It’s like Instagram, but only for memes, no fake models, and you can drop in pictures from any social media site (some hella weird pics are there too, like pictures of vegan milk 🤢).

9GAG has:

• 40 million users

• average visit of 17.5 minutes

• 130 million website visits a month

But why tf are we talking about 9GAG now? 🤨

Because they just dropped 800 ETH or $1.3 million on 8 Bored Ape Yacht Club (BAYC) NFTs over the weekend.

Bruh, my top weekend purchase was 2 boxes of Kellogg’s Oats to mix my doodh for like Rs 150 ($1.6) and 9GAG is out there dropping millions on monkey jpegs.

But it’s not just monkey jpegs, they’ve got an NFT portfolio worth $9.6 million, and it’s gonna be put to good use. 👌

The question is – what tf is a meme sharing site gonna do with BAYC?

Here’s what’s cooking 👇

9GAG purchases these NFTs through – Memeland, a venture studio.

Yes, a meme-sharing social media app is buying weird monkey jpegs from something called Memeland. We are truly living in a simulation 😭

Memeland is a “venture studio” which is a fancy way of saying it’ll house and build all of 9gag’S NFT projects.

So far, 9GAG has launched a bunch of NFT projects including:

🥔 Potatoz floor price of 1.6 ETH

🏴‍☠️ The Captainz floor price of 3.7 ETH

🛳️ You The Real MVP floor price of 36.6 ETH

Sounds like the weirdest bunch of pirates evvaaa. 🥴

But that’s actually the common thing between all these projects – treasure and adventure!

Memeland looks to be creating a 💰 treasure island 💰 kinda metaverse with these NFTs.

That’s EXACTLY where the BAYC NFTs come in.

Take a ☝️ look ☝️ at those BAYC NFTs. Do you notice something similar?

Notice each of them has a sailor hat? Notice each of them is high af? Notice each of them is a subscriber to the doodhwala?

Yeah! They’re all ⛵️ sailor-bored apes! Better than sailor penguins 🐧 for sure.

These Bored Apes are gonna be part of Memeland’s treasure hunt metaverse with all its other projects. 😯

Doodhwala’s take:

This is a neat + new way of creating a metaverse – with NFTs with common traits from other projects. It:

1️⃣ brings together diff communities2️⃣ creates a custom experience3️⃣ builds a unique story

We’re probably gonna see a ton of NFT projects sell (or give away the IPs) specific NFTs to create these custom worlds.

What’s the next kinda world with bored apes?

🤠 Cowboy bored apes🥷 Shanghai nights bored apes🏍️ Motocross madness bored apes🥛 Doge the Spoiled Doodh bored apes

Let us know by replying to this email.

📢 Students: Build the NEXT Twitter

Twitter. Zapier. Thorchain.

These companies have only 1 thing in common.

They were all created by 👨🏽‍💻 developers at hackathons. Now, they’re worth billions, by allowing people to:

• shitpost (Twitter)

• automating tasks (Zapier)

• create liquidity across blockchains (Thorchain)

But there are still a BUNCHA ideas out there for you to hack away.

Where can you hackaway? 👉 Right here.

And you don’t have to leave your bedroom. 😲 👉 Do it online.

Check out our frens at Web3ForAll, they’re prepping Ur-Hackathon 2.0 to build the future of the decentralized web.

💰 Prizes upto 480K🗓️ Feb 17 to 24,👩‍🎓 Who: Students, Web3 enthu-cutlets + professionals (basically anyone and everyone)

Apply here.

🤨 Bitcoin on Ethereum…still a thing?

It’s always an amazing sight when two large forces come together. Like when:

• Electromagnetic and gravitational force coming together ⚡️

• Spiderman finally joins the Avengers 🔥

• SRK and Sallu Bhai come together for Pathaan 🤦‍♂️

Okay, the last one wasn't an amazing sight. It was a train wreck. 🤷‍♂️

But another instance of TWO MEGA forces coming together…

….is Bitcoin on Ethereum.

How is that even possible? 🤨

Bitcoin is great and all but one issue most people complain about is that there is no utility of Bitcoin beyond just a financial transaction. 😬

You can’t participate in the awesome world of DeFi with Bitcoin.

Cuz most DeFi is on Etheruem. 🙈

Hence, the creation of wBTC. 💰

What’s that?

wBTC was just the popular one.

But there are a lot more versions of BTC on Ethereum like:

• hBTC

• bBTC

• sBTC

• tBTC

• renBTC

• doodhBTC

Some of it is created by centralized custodial platforms (wBTC, hBTC, bBTC) and some of the others are decentralized (renBTC, sBTC, tBTC).

Until May of 2022, 2% of all Bitcoin in the world was on Ethereum in the form of these tokens. 🤯

Now, it has dropped to just 1%. 😬

This is probably because most of the whales didn’t want to risk it and got out during the LUNA debacle in May 2022.

But here’s an interesting observation —

The market dominance of wBTC has increased significantly! 😅

WBTC's market share went from 82% 👉 92%!

The main reason behind it is liquidity of most of the other versions of BTC, especially the decentralized versions like renBTC, etc. dropped close to 1-2%.

Yikes!

And only wBTC prevailed. 👑

Even the OVERALL holders have been steadily increasing! 🔥

Despite the larger market cap of BTC on Ethereum being reduced, the people still want this! ⚡️

And when the market starts looking better, more people will be coming in.

So clearly, BTC on Ethereum is certainly NOT an innovation that is pointless. 🤷‍♂️

Just like how Spiderman joining the Avengers wasn’t so pointless after all.

Bro faced Thanos like a baller. 😎

🎮 Gameswala: Find the doodh

Finding Alpha 🦄 on CT is tough, about as tough as finding the humor in the doodhwala newsletters

Solve each clue by filling in the corresponding word related to blockchain

🛠 Resourcewala: Blockchain Jyotish (Oracles)

When someone talks about 🔮 Oracles 🔮, I think of the 3 things my neighbourhood astrologer said:

❤️ I will marry my crush📚 I will pass the exam💰 I will get rich

Wait, this ☝️ sounds like what I wanna hear. Is that why I believed him and happily paid him Rs 1,000? 😭

But anyway, screw phony astrologers’ tricks, why not check out how blockchain oracles work.

It’s pretty darn cool👇

📊 Chaach and Charts: BNB goes up THEN down

Last quarter, a bunch of bad 💩 happened:

• FTX blew up

• Bitcoin sunk to $16k

• Cristiano Ronaldo retired from the Champion’s Leagure

I mean, he already retired the day he re-signed with Manchester United, but now he’s not even on the continent. 🤣

Despite all of this ☝️ one blockchain managed to stand strong.

👉 BNB Chain 👈

BNB Chain’s daily active addresses jumped from 800,000 to nearly 1 million from Q3 to Q4.

But while the quarter was good, the month of December was topsy 🥴 turvy:

🔻 Daily active addresses fell from 1.5 million to under 1 million, 33% drop🔻 Daily unique addresses fell from 1.25 million to under 500,000, 60% drop

Zoom out people 🔭

🍼 Crypto doodh shots: Turkey Rescued by Crypto

• 🇹🇷 Hil gaya Turkey: Crypto exchanges donate to Turkey’s earthquake relief efforts.

• ⚖️ Monkey Business: Legal battle ends as Yuga Labs resolves dispute with creator of a copycat BAYC project (copying the monkeys really?)

• 🎰 Breaking Crypto: A buncha Chinese gangsters launders $10 Billion through crypto and casinos (gotta be the next Ocean’s 11 movie).

• 🇰🇷 Kimchi tokens: South Korea leads the way in crypto adoption by allowing business owners to drop security tokens (wen India?!)

• 🧋 Boba-Swap: Uniswap takes the next step towards decentralization with the deployment on Boba Network (UNI does a BOBA!)

😂 Milky Meme Of The Day

💰Answer💰

Let us know what you think 👇

If you want more doodh then, be sure to follow our Twitter, our LinkedIn, and our Instagram.

That’s all for today bhaiyo aur bheno! Naale Sigona!

Aakash "Dahi Cheeni" Athawasya & Arvind "Doodh Peda" Krishna

Yo! Our legal and financial advisors (aka our good ol’ conscience) have asked us to add this boring disclaimer.

None of what you read here is financial advice. We aren’t here to get you to buy or sell a crypto. We’re only here to tell you what’s up in crypto today and make you laugh. So, if you screwed up on a trade, that’s on you G. Stay safe in the markets.