🎮GameStop Launches Crypto Wallet - TWJ #150
The meme-stock darling is venturing into web 3.0.
In today’s issue:
The crypto market is flat with the total market cap at ~$1.2-1.3 trillion. Fantom (FTM) is the best performer in the top 100 in the past 7-d. US futures are down as Snap Inc. shares fell ~30% in pre-market trading, dragging along other social media firms.
In other news, GameStop launches crypto wallet, Filecoin Foundation partners with Lockheed Martin, and Korean Police seek to freeze LFG’s assets.
We’re continually improving our content, please reach out if you have ideas or would like us to recap another market segment.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Gamestop Launches Crypto Wallet
The meme-stock darling of Redditors has launched its own crypto wallet and teases its upcoming NFT marketplace. This move to support non-custodial wallets came alongside other large firms’ recent moves such as Coinbase and Robinhood.
There are many potential values unlocked that GameStop can do by integrating crypto with its core products. My hope with this is that GameStop is actually brave enough to use crypto outside of its speculative use-cases, and actually tie it back to the firm’s economy.
⎆Filecoin Foundation Partners With Lockheed Martin
The crypto storage firm has partnered with Lockheed Martin. The collaboration intends to build infrastructure and design decentralized storage for the space industry.
Frankly speaking, this partnership is a bit weird, and perhaps looks a bit like a marketing effort from Filecoin since its token has underperformed vs the broader crypto market, partly due to its not-so-optimal tokenomics design also.
⎆Korean Police Seek to Freeze LFG’s Assets
KBS reported that the South Korean polices authority has stated its intention to freeze Luna Foundation Guard’s assets. The Seoul Metropolitan Police Agency asked multiple exchanges to block Luna Foundation Guard (LFG) from withdrawing any corporate funds.
👨🏻💻Decentralized Finance (DeFi)
fUSD Stablecoin Launch and Rumors of Cronje’s Return Send Fantom (Ftm) Price Higher
Katana Introduces Katana Treasury
Coinbase Offers ‘Thousands of Tokens’ in Expanded Swap Service
Aelin, Optimism Token DIstribution
Amarok is on Testnet
Atlendis Labs is now Live on Testnet
Perpetual Protocol x Velodrome Partnership
Sparkster Converts $22M in Ether to USDC After 3 Years, No Product
🏛Governance - Active Proposals
🦮NFT & Metaverse
GameStop Unveils Beta Cryptocurrency Wallet
Magic Johnson Launches NFT Collection on NBA Top Shot
EBay Launches Wayne Gretzky NFTs on Polygon
‘Goblintown’ NFTs Have Their Moment Amid Market Downturn,
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
PlatinX - $5M Unknown Round
Pebble - $6.2M Seed Round
BUD - $36.8M Series B
Ocean Protocol - $5M Investment by Cypher Capital
Flowcarbon - $70M Venture Round
⚖️Regulatory Update
Davos, Crypto Is No Longer on the Outside
Wall Street Says a Fed Digital Dollar Spells Destruction for Banks
Crypto Industry Battles to Exempt NFTs, DeFi From Tax Reporting Rules
Madison Cawthorn Hit With US House Ethics Investigation Over Crypto
Fed Survey: 12% of US Adults Held Crypto in 2021
South Korean Police Request Exchanges Freeze LFG Related Funds
📚Noteworthy Reads
0xngmi’s Thread on Milady
Ron’s Thread on Tokenomics
Luca Prosperi’s Read on Capital Structures for Stablecoin Protocols
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.