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A KitKat? That'll Be $5,000 Please.
Cruising the crypto news highway with the roof down.
Logan Jory
July 29, 2022
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Est. read time: 3mins aka a runny boiled egg 🥚
🤑
As you peer out of the window of your country manor, through the mist you notice a van careering up the drive with great urgency. As it comes closer, you can just about make out the logo on the side. Relieved, you turn to your partner and with a smile say "it's here."
Ding-dong: this is The Reveal, where the fun side of crypto is pumped and dumped into your inbox every Friday.
What's New 🗞
What's going on in the world of crypto, through the eyes of Twitter.
1/ Machiavelli or Shkreli 🤡
A one-time text-based game show where you have to guess which of the two above greasy guys said which quote:
A) "The key word in profiteering is profit"B) "I'm not interested in preserving the status quo: I want to overthrow it."
Freshly out of prison, Martin Shkreli is testing the boundaries of his lifetime ban from the pharmaceutical industry via a new blockchain-based venture that traffics in his own cryptocurrency.
— Ars Technica (@arstechnica)
10:00 PM • Jul 27, 2022
Ok playtime's over.
We're here to talk about Martin Shkreli, who rose to infamy after hiking the price up of a medical drug from $13.50 to $750 and who was released from prison a couple of months ago after serving 5 years for running a Ponzi scheme.
This week he kicked in the web3 door and launched Druglike, a platform to decentralise and democratise the way drugs are discovered so that not just the giant pharma companies can profit from it.
Anyone can contribute to the processing of screening campaigns in exchange for the $MSI token, basically leveraging a wider set of computational power to compete with the high entry costs to buying the software that only larger companies can afford.
MSI stands for Martin Shkreli Inu, by the way which is actually pretty funny.
Whilst we don't like cancel culture and web3 is open to all, you've surely got to be wary of someone who will spend $5,000 on a KitKat.
Oh, the answers: A was Shkreli and B was Machiavelli.
2/ Burn Baby Burn 🔥
The Currency
The year is over boom 💥 that was quick! and we have all had to decide: NFT or physical? The final numbers are: 5,149 physicals and 4,851 NFTs (meaning I will have to burn 4,851 corresponding physical Tenders).
— Damien Hirst (@hirst_official)
2:42 PM • Jul 27, 2022
In a world first, an NFT project is about to have a planned ending.
Damien Hirst's 10k collection The Currency is culminating for holders in the choice of whether they want to keep the NFT or the physical piece.
If you want the physical piece, the NFT will be burned.If you want the NFT, the physical piece will literally be burned.
In the end 4,851 opted to keep the NFT and as such, a large bonfire will be needed as they're all going up in flames.
It's awesome to see such a provocative artist lead the way and not just make physical art into digital art but grasp the technology and culture, experiment with game theory and create a really unique experience that people have loved.
Onwards Damien, onwards.
Tell Yer Pals, Get Rewarded 🎁
Our refer-to-earn web3 protocol is now live (we started a referral program).
Given this is web3, what sort of tinpot outfit would we be if we didn't look to give you freebies?
Here's a look at the juicy rewards on offer:
Check out our Twitter thread for more details and track your progress in each email in the section below.
Mental Web3 🤯
Maybe a regular feature, maybe not. Let us know if you enjoy it, but we couldn't help but cringe and get baited by this thread, in which Tascha goes through different well known brands and says how they could tokenise their business model which, it is assumed, will improve them.
35 business ideas of how web3 could improve or disrupt the most successful companies:
— Tascha (@TaschaLabs)
7:00 PM • Jul 24, 2022
It really is everything that's bad about the space – using tech for tech's sake.
35. DoorDash
Restaurants earn tokens when they direct customer traffic to the platform & use platform for payment processing. The higher a merchant’s token balance, the lower commission they pay. Use savings on ad spending to reduce fees for both merchants & customers.
— Tascha (@TaschaLabs)
7:00 PM • Jul 24, 2022
Or why not democratise the naming of their products 😂
22. Monster Beverage
Energy drink is a commodity. 90% of company value is intangible brand equity. Many ways to use DAO & NFT to encourage participation in brand. E.g. Monster DAO to let customers vote on new flavors / designs & earn tokens, which are used to redeem products.
— Tascha (@TaschaLabs)
7:00 PM • Jul 24, 2022
Boaty Mcboatface, anyone? You can't trust people. People like Coldplay and voted for the Nazis.
Shiny New Toys 👀
Ok so we've already had sex-to-earn but now you can earn crypto in your sleep with Sleepagotchi.
All you have to do is set your target sleep hours and hit them consistently in order to receive NFTs, all tracked through iOS Apple Health.
Where's the value coming from? As usual it's a bit of an afterthought but the whitepaper suggests a few ways like brands sponsoring items in the MetaRooms, your own little metaverse bedroom as pictured above.
The world is getting weirder and weirder.
Blast from the Past 🕰
A classic from Greg Schoen, who did hold some BTC for a while but sold off a few years ago to buy a yacht.
Just kidding he paid for tuition and capital gains tax. Good ole Greg.
I wish I had kept my 1,700 BTC @ $0.06 instead of selling them at $0.30, now that they're $8.00! #bitcoin
— gregschoen.eth (@GregSchoen)
10:57 PM • May 16, 2011
A Digestif 🍸
That's it for this week folks! Tell us how we did by replying to this email, we'd love to hear your thoughts you big 🧠, you.