• Doodhwala
  • Posts
  • 🛑 Meta is not Unstoppable, but someone else is

🛑 Meta is not Unstoppable, but someone else is

Namaskara. This is Doodhwala and just like your actual doodh, we are filled with protein, calcium and some good ol’ winner vibez.

Got in a great beauty sleep last night. Time to GLOW:

  • Meta is facing maazidar problems

  • The Unstoppable Unicorn

  • Tweetshot of the day

  • Meme of the day

Meta is facing maazidar problems

Meta is bleeding money at their Metaverse division. And it’s no small amount either.

Last year, in a name change so iconic it reminded us of when Rajiv Hari Om Bhatia changed his name to Akshay Kumar, Facebook changed to Meta.

Or should I say, META. So in your face, right? Just like Facebook with our data.

Anywho, Meta said it would focus on web3 beginning with a Metaverse.

Since then they:

  • Spent $10 billion developing AR, VR

  • Launched an NFT marketplace

  • Integrated NFTs with Instagram

  • Made this creepy ad:

Eeeks, reminds me of SRK in the movie Fan.

The division within Meta that’s doing the Metaverse thing is Reality Labs. And they’re losing money faster than me trading cryptos.

In the last quarter (April - June 2022), Realty Labs made $452 million (Rs 3,600 crore) or about a 48% up from the previous year. But it made a loss of $2.8 billion (Rs 22,000 crore).

This means for every $1 Realty Labs earned it spent $6.

I’m really bad at math, but I think that’s not good.

Honestly, META’s Metaverse and NFT move seems mad confusing.

On one hand, they’re jacking up the prices of the Quest 2 headsets and charging 47.5% fees on their NFT marketplace, on the other hand, they want to be the hub for the Metaverse and NFTs.

Bro Zuck, what are you doing?

Not to mention, the FTC (a big bad regulator that doesn’t like it when a company becomes a monopoly) is suing META for acquiring a VR company.

Doodhwala’s take: Plenty of Metaverse projects got off the ground without burning nearly $3 billion in three months. Facebook (META, jeez, sorry) is losing money because people can’t associate that social media site you use to find flatmates and stalk high school crushes with a next-gen Metaverse.

Or, maybe, it’s just us


The Unstoppable Unicorn

The good ol’ Unstoppable Domains is now a big boy crypto BILLY!

That’s right.

Unstoppable Domains, the crypto domain provider, just reached a billion-dollar valuation after a $65 million Series A funding round led by Pantera Capital.

The other participants of this round also included our very own crypto raja Polygon and the crypto exchange, CoinDCX.

For the newbies out there, Unstoppable Domains helps you connect your long wallet address, which you can never seem to remember, to a simple username that you can pick yourself and can ABSOLUTELY remember.

Your boring 0x9cE3100FaAa7E5ADd0f5931dF554bf90baEb5f38 can now be memoryloss.crypto or whyisitsodamnhard.nft

Another great thing about these domains is that you never have to worry about renewals.

This is because you own the domains as NFTs and these domains will stay together forever, much like Virat Kohli and Anushka Sharma.

Doodhwala’s take: All in all, this is great news for the larger crypto adoption because infrastructure companies like this make the transition from web2 to web3 pretty easy.

As easy as stealing doodh peda from a baby.

Tweetshot of the day

Meme of the day

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 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.