🛒 Amazon is NOT launching NFTs

Namaskara, this is the doodhwala. The crypto newsletter with the highest IQ DQ readers. 😎

DQ = Doodh Quotient (a number representing a person's ability to chug doodh) 🥛

All y’all are CRAZY doodh chuggers! 🔥

Here’s the breakdown for today:

• ❌ Amazon is NOT launching NFTs

• 🧰 Start Mining Bitcoin

• 📈 1% USDC Millionaires

• 🛠 Invest in DeFi or Use DeFi?

• 🍼 Kraken wanna BANK?

Let’s CHUGG some milk in the sea!

❌ Nope, Amazon is NOT launching NFTs

Amazon is launching an NFT marketplace.

That’s ☝️ what most news outlets are saying. But is it really?

Nope. It’s just a big FAT rumour. Yet that hasn’t stopped headlines like these 👇

Some even went so far as saying Amazon has “announced” that it's launching an NFT marketplace.

What’s worse? These are fellow doodh drinkers. 😭

Well, here's the truth – none of this is true!

Here’s what we know 👇

All of this comes down to 2 reports:

Report 1️⃣ → The Big Whale said, according to “our information” Amazon will launch an NFT platform on April 24.

Bruh, like wtf is “our information”?!?

According to my information, RCB will win the IPL on June 1, 2023, but that doesn’t mean it’s gonna happen right? Don’t give me false hope. 😰

Report 2️⃣ → BlockWorks said, according to “sources familiar with the matter,” Amazon will drop real-world assets as NFTs.

Bruh, like wtf is “sources familiar with the matter”?!?

According to sources familiar with the matter, McDonald’s is gonna bring back the Filet-o-Fish, but that doesn’t mean it’s gonna happen right? Don’t give me false hope. 😰

NO other BIG crypto media company CONFIRMED the Amazon news.

❌ Decrypt

❌ TheBlock

❌ Coindesk

❌ doodhwala

🤦‍♂️

But seriously, these crypto media outlets have been known for farming unconfirmed stories just for engagement points.

So, watch out for these, and don’t jump on the hype.

So, what's the rumour?

We're like Indian aunties, we wanna know the goss and spill the ☕️. But if it's unconfirmed and from "sources" we'll tell you that up-front.

So, what is this Amazon NFT marketplace "unconfirmed rumored"?

Let's get down to the 🌶️ stuff.

There are 2 ways in which Amazon can add NFTs to its platform.

1️⃣ Fashion NFTs

Every piece of clothing could have its own NFT associated with it.

Users can buy these NFTs with their 💳 credit or debit cards directly from Amazon and it would sit in their Amazon wallets.

2️⃣ Gaming NFTs

While scrolling through Amazon making the fourth impulse purchase of the day (wait is it just me? 🤣) users can play games to earn NFTs.

We’ve seen the gaming 🤝 e-commerce play before.

Walmart-owned Flipkart launched Flipkart Games in 2020 during the first Covid-19 pandemic to engage bored users (because there was no doodhwala then 🤷‍♂️)

What kinda 🛠️ infrastructure 🛠️ would Amazon use for this?

• Private blockchain: Not an interoperable smart-contract blockchain

• Custom wallet: Something simple, and not a self-custodial wallet like Metamask

• Token gated: Instead of a crypto, Amazon could gate purchases using their own token

• Bridging allowed: Developers will be allowed to bridge their assets from other blockchains

Doodhwala’s take:

Alright, we’ve got 2 🔥 takes.

🔥 Take 1

Don’t believe everything you read on the internet (even from us, seriously, we make a lotta bad jokes).

But most crypto outlets are farming clicks and shares, and don’t confirm 💩

Watch out ✋

🔥 Take 2

The Amazon news is pretty cool, but is it game-changing? Probably not

Will the avg. web2 user find Amazon NFT marketplace cool? – Yes.

Will they move to web3 because of Amazon? No.

Will the avg. web3 user use this? Idk.

The doodhwala wouldn’t use the fashion NFTs or the gaming NFTs beyond just testing them for once.

Amazon NFTs won't give us access to a community nor will it have any utility beyond a “cool toy.”

🤝 Meetupswala: The Easiest Place To Find Web3 Events

What's worse than finding a house for rent in Bangalore?

Finding web3 events near you.

Most websites either have:

• too many web2 (read: boring) events

• too few web3 (read: free food) events

That's why we built a one-stop solution for all your web3 meetup needs.

Check out Meetupswala (by the doodhwala), a single website for you to:

→ Find web3 events 🤝 List web3 events 🤝 Create FOMO about web3 events

🧰 Mining Bitcoin, The Jack Way

One question that often pops into our head randomly is…

…what’s Jack Dorsey upto these days? 🤔

With that crazy beard, funky beanie and that nose piercing, we always think he’s either:

• doing ayahuasca in Peru or,

• smoking weed in Jamaica or,

• doing LSD in the Netherlands 🤷‍♂️

I mean, seriously, look at him. 😅

But this is what he’s REALLY been up to. 👇

Apart from advancing simple crypto payments with his company, Block Inc., he’s thinking about making Bitcoin mining easier.

Damn. Our boy doesn’t do small-boy-stuff. 👏

Block wants to innovate Bitcoin mining rigs by building a simple DIY “Mining Development Kit” (MDK).

Basically, they want to recreate this picture 👇 but with Bitcoin miners. (look at the joy on their faces 🥲)

The MDKs will contain all the essential tools for a mining rig like:

• Hashboard

• Controller board

• Open source firmware & software

• TONS of documentation (I'll need it for sure 😅)

Block hasn’t been messing around when it comes to mining innovation.

They have been finding ways to make it more efficient and effective through solar tech. ☀️

TWO key decisions by the company show the commitment:

1️⃣ Hiring Naoise Irwin, the co-founder of solar heating company SolarFlux, as mining hardware senior product lead

2️⃣ Spending $5 million on a partnership with Tesla to pilot an all-solar Bitcoin mining facility

Again, our boy Jack is not messin’ around! 😎

But the BIG question remains….

…is this the best time to be working on Bitcoin mining tech?

This is because Canaan, a crypto mining rig-making company, announced that its revenue dropped by 82% this year! 🤯

That’s a bigger drop than Chelsea’s footballing reputation this year. 🤷‍♂️

So yeah, it may not be the best of times to be doing this.

But one thing we know about our boy Jack is that he will somehow push through and make it happen.

So get ready for a new activity, kids! 🔥

This summer we’re building a DIY Bitcoin mining rig! 🥳

📈 Chaach and Charts: 1% USDC Millionaires

USDC has been on a crazy run over the past few years.

From competing for the top spot with USDT to fighting Binance’s BUSD.

It’s been through A LOT almost as much as Manchester 👹 United fans in the last 2 weeks (from winning the EFL Cup to losing 7-0 to Liverpool 🤣)

But despite that, the transfer volume has gone UP, UP and UP.

🗓️ 2020 → $25 billion

🗓️ 2022 → $600 billion

We just checked our calculators (cuz we don’t do public math), that’s 2,300% rise 🤯

But who exactly are holding these tokens? 🤨

👉 50% holders own <10 USDC (this is where I belong 🥲)

👉 10-15% holders own <1000 USDC

👉 Less than 1% holders own over 1 MILLION USDC

Click to enlarge 👇 (that's what she said 🤣)

🛠 Resourcewala: Investing vs Using DeFi

We gotta quick question for you. 😎

Which one do you think was a better decision —

Investing in a tech company during the dotcom boom or building one?

Who is more successful — Jeff Bezos or Warren Buffet? 🤨

The same question stands for the current DeFi boom.

And our resource today will help you answer that! 🔥

• The problem with money

• What is changing?

• Learnings of DeFi

• Building infrastructure

Let’s JUMP IN! 🚀

🍼 Doodhshots: Kraken wanna BANK?

• 👋 Sayonara Solana: BlockAsset, an NFT platform used by athletes, is moving outta Solana and into EVM-compatible Chillz Chain, 2.0.

• 🦹 Genslers Assemble: US SEC Chairman Gary Gensler is hiring additional staff to investigate all kinds of cryptocurrency companies.

• 🐍 Exchange → Bank: Crypto exchange Kraken wants to fill up the gap left by the exit of Silvergate Bank by launching its own bank in 2023.

• 🛠️ We FIXED it!: A former dev of crypto-mixer Tornado Cash is set to launch a new mixing service that he thinks US regulators will be okay with.

• 🎨 NFT index: Forkast Labs is launching 3 NFT index products allowing an investor to invest in top-NFT collections without buying them all.

🤣 Milky Meme Of The Day

📢 REFER AND WIN some doodhwala merch 📢

For the first time evaaa, we're giving away the doodhwala merch.

But it's not lame t-shirts with some random company name, but super cool stuff like:

😜 stickers – for your 💻, 📱 and 🚽📘 notebooks – to write your crush's name🍺 mugs – for your doodh, and NOT your beer!!👕 t-shirts – with totally non-controversial things (promise 😉)🧥 hoodies – because we wanna keep you warm in the crypto 🥶 winter🎁 mystery box – with some super cool prizes that’s worth more than 1 Bitcoin

Chegg it 👇

For every confirmed referral (i.e. they confirm their email and drag it to their “Primary” tab from their “Promotions” or “Updates” tab) you’ll get some 🤤 merch.

All you gotta do is share the doodhwala with this link (only available on email, not on web view) 👇

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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.