🎁 Wrapped: The Weekly Web3 Newsletter (Edition #9)

By @DepecheNode_

11.29.21

Adidas went all in on the metaverse last week.

1. The company bought land in the Sandbox

2. Announced a partnership with Coinbase

3. Dropped this merch collab (below) w/BAYC, Punks Comic & gmoney.

This is a historic move, as Adidas is the first major lifestyle brand to demonstrate its commitment to the space. And while crypto natives are wary of old normie brands entering the metaverse, Adidas has made all the right moves so far. We’ll likely see the launch of their metawear when Coinbase NFT launches… soon™. Expect *a lot* more web2 brands to follow in Adidas’ digital footsteps.

Web3’s gravitational pull is attracting capital at an astounding rate. Money flowing in != your bags going up, but it’s a positive sign for the sustainability of the industry. We need builders and those builders need to get paid. The good news is that crypto is attracting both financial and human capital at an exponential rate. Why work for a boring saas company when you could be playing in the metaverse?

Market Vibes 

The NFT bear market drags on. Supply is inflating faster than the fed, which means the average NFT collector is running out of liquidity. We’ve searched the couch cushions and there’s nothing left. So what do we do if we want to buy the CloneX drop? We sell something else. Combine the liquidity crunch with a strong $ETH chart, and you get a (NFT) marketwide 15-20% dip. Kudos to the following outperformers of the week:

🚨DISCLOSURE: I own NFTs! I own punk #2971 if you’d like to dig around.