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- 🔥 HOT TAKE: Instagram > Twitter in NFTs
🔥 HOT TAKE: Instagram > Twitter in NFTs
PLUS: Microsoft plays some Katy Perry
Namaste, this is the doodhwala. The crypto newsletter that you just can't hate. Seriously, try hating it. Told ya. You can't. 🤷♂️
Especially not with this cute ETH cow in front of you. 🥺🥺🥺
Here’s the scoop for today:
Instagram will beat Twitter on NFTs!
Microsoft x Crypto- Yay or Nay?
Chaach and Charts: The BIGGEST crypto fiasco of 2022
Milky Meme Of The Day
Instagram will beat Twitter on NFTs!
This week, Instagram had a Twitter Space about every degen’s favv topic — NFTs.
wait, what?
Seriously? Why not have an Instagram Live, or a Whats App Video Call, or a Facebook…wait…no one under the age of 30 uses Facebook. My bad 😂
Anyway, Instagram’s official Twitter account went live with 4 NFT artists to talk about how they’re 🤝 NFTs.
We listened to the whole Spaces, and here are the cliff notes:
How TF we got here?
1️⃣ Instagram started tinkering with NFTs in early 2021, basically since this digital artist sold his artwork for $69 million.
2️⃣ Instagram first got into NFTs with — showing off.
This is similar to those ⬡ hexagonal ⬡ shaped profile pictures on Twitter, allowing users to see:
3️⃣ In October 2022, Instagram basically said, “Alright screw it, we’re all about this NFT thing!” They launched:
NFT minting
NFTs buying
NFTs selling
spending life savings on a jpeg of a cartoon dog with a mutated face, wearing weirder sunglasses than Karan Johar, I mean WTF even is this?!?!
Who is Instagram buidling for?
Like Twitter was building for degens to showcase their NFTs. Instagram is all about the — Creators. Not just the fake Instagram models too, yeah Natasha I said it! 😮
They wanna promote:
📸 dynamic visual artists aka photographers and videographers💻 static visual artists aka graphic digital artists🎵 audio artists aka musicians
✍️ even the writers but not those unfunny and cringe-AF newsletter writers! why Zuck WHY?!?! 😭
Why will Instagram NFTs will be YUGE?!
The doodhwala thinks Instagram’s NFTs will be YUGGE.
Bigger than Twitter, Reddit, and may even outperform NFT marketplaces like OpenSea and Magic Eden. Yeah we said it
Y tho?
Like Cafe Coffee Day is THE SPOT of every Indian couple’s first date, Instagram will be THE SPOT of every creator. Here’s why:
👑 Royalties 👑
Instagram allows artists to toggle between 5-25% royalty on each sale of the NFT. This is massive compared to OpenSea’s 2.5% royalty and Magic Eden’s optional royalty. 💰
👥 Community 👥
Instagram’s artists already have a huge community of followers who are willing to buy their physical products. Now, imagine them buying digital collectibles right from their phone. 🤯
🤲 Everything 🤲
Everything is available right on Instagram, from PayPal to Metamask and from minting to re-selling. Why would an artist or an artist’s fan go anywhere else?
For the web2 audience, getting into web3 with their favvv artists' collection has never been easier.
Now, a million + people will see words “blockchain,” “Ethereum,” “Polygon,” and “REKT” for the first time.
And they’ll ask tf are these things. 🤔
That’s where their journey begins. 🫡
Listen up buidlers: It’s time to ZKAdvance 🚀
Everyone needs a supporter. 🤝
A Circuit to their Munna Bhai. A De Villiers to their Virat Kohli. A Joey to their Chandler.
Especially web3 builders!
The truth is few people want to partner with web3 builders after the bear market of 2022.
One of those few people are → Brinc x Animoca Brands.
They’re bringing their flagship ZK Advancer Accelerator to 🇮🇳 for:
web3 startups in India, or
web3 startups that wanna enter India
They’re offering an investment of $250k, a cool curriculum, and 1-on-1 meetings with Brinc x Animoca Brands’s network of mentors + founders.
Apply here. Registrations close on 30 December.
Microsoft ain't going soft on crypto
Microsoft.
This is the company that brought you the internet browser that no one uses. 🙃
(Seriously, do ya know anyone who uses Microsoft EDGE?? Reach out to them plz. They need help)
Microsoft has been very Hot-n-Cold, Yes-n-No, In-and-Out, Up-and-Down, with crypto.
(yes I can't get that Katy Perry song outta my head)
Anywho, here's what Bill Gates' Baby has done with crypto:
They partnered with ConsenSys, a blockchain service company, to launch an ETH Node service and also led an investment round for them
Minecraft, which is owned by Microsoft, banned all NFT and token usage on their fan servers earlier this year
The head of Xbox, also owned by Microsoft, announced they are not going too hard on crypto and are a little “cautious” 😅
And now, Microsoft has come out with another not-so-crypto-friendly announcement.
Microsoft is banning crypto mining on its online services, like its cloud Azure, without permission.
And that’s all the info they gave. Nothin’ more. 🤷♂️
But it’s kinda understandable.
A lot of cryptocurrency miners have been using cloud service providers like AWS, Google Cloud, and Microsoft Azure and their servers to mine tokens.
And as we all know, mining uses a lot of computing resources (which is kinda good for these cloud providers cuz they can charge a lot of 💰💰💰)
But mining also brings in vulnerabilities and security threats. 😬
That's why Google Cloud banned it, AWS doesn’t allow it for the first 12 months of usage and now Microsoft is also banning it.
It’s not clear yet if these companies will build a safer environment for crypto mining but it certainly will be pretty lucrative if they do.
Cuz the miner bros are everywhere and they need this service a lot! 😅
Chaach and Charts: The BIGGEST crypto fiasco of 2022
2022 has been a tough year for the big guns with:
India crashed out of the T20 WC
Ronaldo potentially will never win a World Cup with Portugal
Elon was forced to go with the Twitter deal 😭 (or was that the plan all along? 😉)
Even in crypto, many “giants” have fallen this year.
The top 3 were FTX, LUNA and 3AC.
A lot of people lost A LOT of money in all these disasters but which one was the biggest?
According to Chainalysis, Celsius and 3AC collapses were the biggest ones of the year.
The total realized loss for investors from that collapse reached a whopping $33 billion! 🤯
Oof. I don’t even know how many zeroes are in that number. 😅
LUNA was the second biggest one with the unrealized loss at $20.5 billion; for FTX it is currently at $9 billion.
Where did you lose your money? Reply and let us know with a 😭😭😭 emoji)
Milky Meme Of The Day
If you want more doodh then, be sure to follow our Twitter (@DoodhwalaDaily)
That’s all for today bhaiyo aur bheno! Naale Sigona!
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.