💊 Did fortune really favor the brave?
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Did fortune really favor the brave?
This crypto company invested in Twitter
Trending stories
NFT of the day
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DID FORTUNE REALLY FAVOR THE BRAVE?
It’s officially been 1 year since crypto exchange Crypto.com aired it’s infamous commercial starring Matt Damon. In the commercial, Damon suggested that people who bought crypto were just like the early explorers, the Wright brothers and astronauts.
However, the commercial couldn’t have come at a worse time, as crypto was near all-time highs. How have top cryptocurrencies performed since then?
BTC = $60,767 → $20,441
ETH = $4,288 → $1,531
SOL = $195 → $31
DOGE = $0.29 → $.08
Talk about ouch!
It’s easy to dunk on Matt Damon, however he was simply hired to be an actor, which he does for a living. Also, while the framing of the commercial was off, there is some underlying truth buried in there.
The reality is that you do need to be brave to dive into Web3. It is an emerging space with no guaranteed chance of success.
Web3 founders often walk away from comfy big tech jobs, where they must fight against better funded incumbents and operate in a space with unclear regulations.
Not to mention that historically, fortune has favored the people who have made the jump… over the long term. While short term crypto prices may be volatile, the total market cap of crypto has continued to rise over each subsequent market cycle.
Ironically, the crypto.com commercial would make a lot more sense if it aired right now. It was easy to buy when markets were pumping last year and everyone was piling in.
However, it takes real conviction to continue to buy now. If you are able to find that conviction (and the funds), it could very well position you to benefit from the next bull run. Not financial advice though!
THIS CRYPTO COMPANY INVESTED IN TWITTER
Yesterday, Elon officially took control of Twitter and things are off to a wild start. Within hours of closing the deal, Elon had reportedly already fired the CEO, CFO and head of legal! 🤯
Buried amidst all of this chaos and excitement, was another Twitter story with ties to the crypto world that seemed to be flying under the radar.
It has been revealed that crypto exchange Binance, is actually an equity investor in Twitter.
For those who are unaware, Binance is the largest crypto exchange in the entire world by volume, dwarfing the nearest competitors.
In a tweet, Binance’s charismatic CEO Changpeng Zhao (aka CZ), stated that they had wired over $500 million for the deal.
It remains to be seen what Binance’s involvement will look like with Twitter. However, it’s yet another sign that Twitter may be embracing some of the core elements of crypto.
TRENDING ARTICLES
Elon Musk Finally Closes Twitter Acquisition, Fires Top Executives: Musk’s buyout occurred after a lengthy back-and-forth between the two sides.
Metaverse platforms to fall under scope of controversial UK Online Safety Bill: Metaverse platforms will come under the scope of the UK’s upcoming Online Safety Bill.
DeFi Platform Exploited for $14.5M Despite Security Audits: Despite having had several firms conduct security audits of its smart contract code, Team Finance has been exploited for millions
NFT OF THE DAY
If you’ve spent any amount of time on crypto twitter, you’ve likely seen the Azuki anime artwork as someone’s PFP (profile picture).
Azuki burst onto the scene in January of 2022, and quickly grew a passionate base of supporters.
Then the entire project looked like it was going to collapse when their founder Zagabond, was accused of participating in multiple NFT rug pulls in the past year.
Zagabond took the criticism head on, and despite a short term dip, the Azuki community quickly rallied back.
Just this past week, the Azuki team raised over $2.5 million, by selling 8 golden skateboards, which will be redeemable for skateboards in IRL.
Will Azuki go on to remain a coveted bluechip collection on Ethereum? Only time will tell.
