👒 From NFT to memecoin

PLUS: Seed phrase security for $9.99 💰

Namaste, this is the doodhwala, the only crypto newsletter that’ll make you go – “AWW,” “LOL”, “OMG” and “PLS STAP” in the same sentence.

Here’s what we got for you today:

  • 👒 Milady: From NFT to meme coin

  • 💰 $9.99/month: Subscription-based seed phrase security?

  • 📈 Over 500k BTC: Bitcoin HODLers unite

  • 🛠️ Mint ME: Build a Minting Service

  • 🏎️ F&F NFTs: Hot Wheels is launching NFTs

Hold on to your hats 🎩

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👒 Pardon me, Milady

“Greetings Milady!”

The term can have a huge difference depending on when you’re born. 👶

70’s: Ohh, what a gentleman! 🎩

The 70’s dude should grab a glass of milk and thank his lady.🥛

90’s: Bruhh gimme one, I need it right now!! 🤩

The 90’s dude is of course speaking about the Milady NFT collection. 💃

Who’s m’lady? 💃

Let’s put it this way 👇

If there were ever a movie about NFTs in the future, Milady and it’s community would be the Wild Wild West of it. 🤠

The Milady profile-pic (PFP) NFT collection consists of 9,823 NFTS featuring wide-eyed childlike faces. 👶

They come with a dash of anime and a lot of kawaii 🥰

They’re a good combination of:

👉 Anons from 4chan

👉 Extreme Degens

👉 Casual philospohers

However, what really sets Milady apart is their community. 🫂

To the Milady community, everything is a joke (kinda like doodhwala) 🤣

And they know that too!

They are aware of the stupidity of investing in memecoins, 💩-coins and utility-less NFTs. 🔻

Yet they absolutely love Ape-ing into such trades (cuz…why not? 🤷)

⏱️ Quick history lesson on Milady

The story of how Milady and its affiliated projects have become popular is quite amazing. 💯

  • The founder of the project Milady Sonoro, (real name- Miáo Jīnglíng)

  • Sonoro is an artist who used to make a small living by selling her own art.

  • When she met her co-founder Charlie at the booth where she was selling,

  • They ended up opening Remilia Corporation, which is the brains and work of both Sonoro and Charlie 🧠

⏱️ History lesson OVER

Why the hype tho?

There are ✌️ main reasons why Miladys is so popular right now:

1️⃣ Blend 🌀

2️⃣ Elon Musk 😎

👉 WTF is Blend?

Blur Lending (Or Blend) is a peer-to-peer Perpetual Lending Protocol for NFTs. Some of their services include collateralized lending, buy now pay later, and so on.

Well, one of the 3 NFTs that Blend currently supports is Milady. This has sent volumes to soar 📈

People trading > 100k ETH in total volume!

With all this happening, Elon Musk, the unofficial memecoin pumper (like we’re unofficial milk deliverers 🥛)

Put out a meme with Milady, saying, “There is no meme, I Love You.” 👇

When Elon comes to town, so do the doodhs who hype things up! 👬

People flocked into Milady NFTs and memecoin for some action after this. ☝️

🥛 Doodh Fact: There is also a memecoin by the name Milady, in which the top 10 whales are sitting on paper profits of over $20 million! 💰

Although there is no practical use case that is visible at the moment for Miladys, the hype train is going full steam ahead! 🚆

Doodhwala’s take:

If someone tells you “Buy my coin please” please don’t engage with them. 🙏

If someone tells you “I don’t drink milk every day,” engage in violence. 👊

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💰 Seed Phrase Security for $9.99/month

Ledger.

It’s the crypto hardware wallet that Do Kwon DID NOT stick up his a** to hide it from the authorities. 😎

He thought Trezor wallet was the better option. 🤷‍♂️

Ledger is one of the biggest hardware wallet companies in the world**, currently valued at around $1.5 billion. 💰**

These wallets help users store their crypto offline in a safe way using seed phrases.

Wtf a Seed Phrase? 🤔

A seed phrase is a sequence of random words that stores the data required to access or recover cryptocurrency on blockchains or crypto wallets.

If you lose it, it’s GAME OVER. ⛔️

You will never be able to recover the crypto that’s in your wallet.

Now, Ledger has come up with a plan to revive you, give you additional health and NOT just say “game over” when you lose (or forget) your seed phrase.

And it involves:

  • $9.99/month 💰

  • Your passport 🎫

  • THREE companies 🏢

Here’s the lowdown 👇

Ledger released Ledger Recover Service in their recent firmware upgrade. 🛠

It’s a recovery service that backs up users’ seed phrases for them.

To use the service, however, users must verify their identity by giving their:

→ passport or,

→ national identity card

And also pay → $9.99/month. 🤷‍♂️

After verification, Ledger will create “three encrypted fragments” of the seed phrase which will be sent to three “trusted” custodians for safekeeping:

1️⃣ Ledger

2️⃣ Coincover

3️⃣ Another provider (not decided yet)

Each of these entities will use hardware security modules (HSMs) which are “essentially super-powered Ledgers” to keep the fragments safe. 🔒

Now, here’s the issue: 👇

People will have to rely on these three companies’ security systems to keep their wallets AND their identities safe. 😅

In case you forgot, Leger suffered a major data breach back in 2020.

The breach exposed the data of over 300k customers. 🤯

  • emails

  • phone numbers

  • home addresses

If it were to happen again, the hackers will also get your passport and seed phrase info. 🥲

So, it’s definitely a risk but is it worth it?

Only you can decide. 🤷‍♂️

If you are sure that you will never lose your seed phrase then this service ain't for you.

But if you can't remember what you ate for dinner last night then…you might have to take the risk. 😅

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📈 Cheese and Charts: HODLers unite

We admit it with pride, we have paper hands. 🫡

Our investing is mainly into JPEGs and memecoins that makes us look 🆒 on the internet.😎

(We haven't made any money😢)

However, there are doodhs out there,

Who with the power of consuming pure cow milk- 🐄🥛

Are able to hold coins for years together!🗓️

The total number of Bitcoins that are HODLed has reached an ATH!

→ Total number of HODLed $BTC over 500k 🎉

→ Beats previous ATH during 2021 🗓️, which was 300k Bitcoins HODLed

→ Number also includes Lost Bitcoins 🙆

Lost Bitcoins, we call them Permanent HODLers. tch...tch…

Source: Glassnode

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🛠 Resourcewala: Build a Minting Service

Do you know what comes before buying an NFT?

Minting an NFT. 😲

Most NFT minting services are operated outside an NFT marketplace like OpenSea or Blur.

  • Communities have to build their own website

  • Connect it to the chosen blockchain

  • Collect crypto and distribute NFTs

Sounds like a pain? 😖

Don’t worry fam, we got you covered. 🤩

In today’s Resourcewala – learn how to quickly build an NFT minting service.

🍼 Doodhshots: Hot Wheels NFTs

  • 🇬🇧 Cheeri-No: UK Treasury classifies crypto as gambling, not currency, for regulatory purposes. Another reason to hate the Brits lol!

  • 🌖 UST dump manipulation: SEC accuses Jump Trading of manipulating TerraUSD's collapse in a lawsuit. No jumpin outta this?

  • 🪆 Hot Wheels NFTs: Mattel will launch NFTs with Tezos featuring Hot Wheels Fast & Furious cars. I don’t got friends, I got NFTs.

  • 🔒 Fake hardware: Kaspersky warns of counterfeit Trezor wallets sold online, posing a risk of crypto theft. The Kaspersky is falling! 

  • 🇸🇬 Ni-Hao Singapore: Coinbase expands its services to Singapore, allowing users to buy, sell, and store cryptocurrencies. Pouring outta the US, huh?

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🤣 Milky Meme Of The Day

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That’s all for today folks! See ya tomorrow!

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 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.

Today’s edition was brought to you by Ritik Gupta and Sumanth