• Doodhwala
  • Posts
  • An actual-actual Metaverse and JP Murgan’s BTC hot take

An actual-actual Metaverse and JP Murgan’s BTC hot take

Namaskara readers. This is your favourite Doodhwala, and unlike your actual doodhwala, we don’t water down the milk, or the crypto news.

This weekend was fun! ETH jumped by like 12% following news of a confirmed date on The Merge. I’m more excited for the Merge than during the first ball of an IPL superover!

Anywho, let’s see the big news from the weekend:

  • A metaverse that isn’t all bogus. At least not yet

  • JP Murugan calls the Bitcoin bottom

A metaverse that isn’t all bogus. At least not yet.

Yuga Labs, the company behind the NFT collections that you probably can't afford like the BAYC, MAYC and CryptoPunks, just released the demo of their highly anticipated metaverse, Otherside.

And we honestly have to admit- It is EPIC! blows chef kiss

Take a look at some of the live visuals yourself.

To participate in the demo, you had to own an Otherdeed NFT which opened for mint in April and netted around $317 million in just a few hours.

Oh, and btw, it has now surpassed $1 BILLION in all-time sales.

What is money even…amirite?

Back to the demo.

It was a bit like Fortnite. But on a freaking BROWSER!

Yeah. A browser. You know…that thing that you change from Internet Explorer to Chrome the first chance you get.

Over 4500 people were playing at the same time and the rendering was almost flawless.

This was all made possible by the game development company, Improbable.

Yuga Labs, partnered with them to build the metaverse and they definitely knocked it out of the cricket ground.

The players got a chance to explore the world of Otherside and even have their first BOSS fight.

The demo was incredibly successful and built a lot of hype for the actual release.

The supporters were raving like KGF fans on the day of KGF-2 release.

Well, maybe not as much.

KGF still rules.

Doodhwala’s take: Idea is great. Tech is great. Hype is great. An actual metaverse that people can be excited for. Sounds like a first!

JP Morgan Calls Bitcoin Bottom

Bitcoin bottom is like malai. Everyone knows it’s in the milk, but no one wants to taste it!

But one investment bank that has called out Bitcoin’s bottom is JP Morgan. You might be familiar with JP Morgan, especially as its CEO Jamie who has produced hits like:

  • Bitcoin is a terrible store of value June 2014

  • Bitcoin will not survive November 2015

  • Bitcoin is a fraud September 2017

Now, his analysts are drinking the Bitcoin doodh-aid.

Fun fact: JP Morgan after shitting on Bitcoin and crypto became the first bank to enter the Metaverse. Tbh it’s quite cringe, all they have is a lounge to walk around in. Check it out here.

Anywho, JP Morgan’s analysts said Bitcoin mining’s production cost is at $13,000 and that where the crypto could bottom. THAT’S 40% DOWN FROM WHERE WE’RE AT!

Last month, the production cost was $24,000.

Hotdamn.

Quick note on Bitcoin’s production:

Bitcoin is created through mining using electricity (and tears of bankers ofc). If the cost of electricity falls, mining becomes profitable, and vice versa.

This comes after a bunch of publicly listed miners sold their BTC holdings because of falling prices.

We at the Doodhwala are all about the doodh and paani takes.

Doodh take: Miners are now profitable, this means they’ll keep mining and securing the Bitcoin network.

Paani take: We’ve still got a long way to go to bottom. Yikes!

Doodhwala’s take: Bitcoin miners have been drinking the doodh with the malai since November 21. That sucks. Any breathing room they get is a good thing. Even if production cost is low, at least miners are surviving.

Here’s a cold one 🥛 for every miner out there.

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

Oh and beeteedubs, we’ve got the doodhwala.eth ENS name. So, for all the many many people who wanted it, you can kiss our tall doodh glasses. Jk jk. Get your Ethereum domain here.