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

🎁 Wrapped: The Weekly Web3 Newsletter (Edition #9)
By Futureproof • Issue #4 • View online

By @DepecheNode_
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.
*Strong play by Adidas
*Strong play by Adidas
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.
The Black Hole
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?
  • Matt Zhang launched $1.5 billion crypto fund
  • Michael Saylor can’t stop won’t stop - Microstrategy purchased 7,002 Bitcoins
  • @PanteraCapital raised $600M crypto fund
  • @join_royal music NFT platform raised $55M from @a16z
  • @Celsiusnetwork invested $300M in BTC mining ops 
  • @MoonpayHQ raised $555M at $3.4B valuation
  • @arca launched $30M NFT fund
Weekly Highlights
  • 5555 is live! Congrats to our very own @hunterorrell on a successful launch! 
  • $CRO price doubles after securing naming rights to Staples Center
  • @obj’s new NFL contract will be paid entirely in BTC
  • El Salvador building a $BTC city 
  • @time magazine to hold $ETH on balance sheet 
  • @rarible  launches direct messaging service
  • 1 million ETH burned since EIP-1559 
  • #NFT declared the 2021 word of the year by Collins dictionary 
  • @camirusso’s ‘Infinite Machine’ book is turning into a movie @ETHmovie 
  • Time studios teams up with @robotosNFT to create animated series
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:
  • Anything Pixelvault. Thanks Adidas! 
  • EtherOrcs
  • RTFKT’s new CloneX drop - minting paused at the time of writing due to site ‘attacks’
  • Robotos (we like the time collab announcement)
  • The Sandbox & Decentraland
🚨DISCLOSURE: I own NFTs! I own punk #2971 if you’d like to dig around. 
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