GM 👋 Seedphrasers, where dreams of Lambos collide with reality checks

📓 Today’s Agenda:

• 🔥 Hot Headlines

• 🐧 Pudgy Penguins Raises $9 Million

  🖥️ How to Create a Cryptocurrency in 3 Easy Steps
  🤝 Goldman Sachs and Microsoft Getting Into Blockchain?

🔥  HOT HEADLINES

📈 Market Headlines

• Abu Dhabi is getting a large-scale Bitcoin mining complex developed by Marathon Digital and Zero Two - Learn More

• FTX founder Sam Bankman-Fried asks the court to dismiss 10 of the 13 counts he faces, including fraud, conspiracy, and foreign bribery. - Check it Out

• Former Goldman Sachs Executive Says Crypto Markets About To Accelerate Out of Bear Market Much Faster Than 2019 - Take a Look

• Ex-Coinbase manager sentenced to 2 years in prison for insider trading - Learn More

🖼 NFTs

• OpenSea Pro is now accepting $PEPE as a payment method for purchasing NFTs - Check it Out

• BTC DeGods have made it to #1 on the Bitcoin Network - Learn More

• Binance will soon add support for Bitcoin NFTs, making it the fourth supported chain on the platform behind Ethereum, Polygon, and BNB - Check It Out

• NFT Inspect announces a collaboration with Polygon by integrating Polygon-based NFTs onto its platform - Take a Look

🐧 PUDGY RAISES 9 MILLION

What Happened? The Pudgy Penguins NFT collection has completed a $9 million seed funding round led by 1kx.

The funds raised will be utilized to expand the company's intellectual property and team.

Who is 1kx? 1kx is a prominent investment firm that supports early-stage projects and startups in the DeFi and Web3 ecosystem.

A primary focus of 1kx is to identify and back founders and teams building innovative solutions and products, further validating the Pudgy Penguin leadership.

What Will the Funds Go Towards Specifically? Although we do not know what the funds will be used for regarding the projects IP and the team, here are some ideas:

• The production of physical items like toys, books, wearables, etc

• The creation of animated series or TV shows

• The onboarding of big-name ambassadors onto the brand, as Doodles did with Pharrell

How Will This Affect Pudgy Penguins Moving Forward? One of the leading reasons for NFT projects failing today is the inability to extend the project runway.

Runway TLDR: The project runs out of funds to support the project, resulting in a complete end of operations or a slow and painful rug.

However, the completion of the funding round signifies Pudgy Penguins' continued growth and development and highlights the ongoing momentum and interest surrounding the project itself.

Seedphrase Take: BULLISH ASF

🖥️ HOW TO CREATE YOUR OWN MEMECOIN

Every day for the last 2-3 weeks, a new shitcoin was trending on Twitter, Reddit, our mom's Facebook page, etc.

Where do these coins come from? How are they made? How is it possible for them to be made so quickly?

The answer to these questions is much simpler than you think.

By this end, you will know How to Create a Cryptocurrency in Seconds.

➡️ Define your cryptocurrency by navigating to OpenZeppelin, a platform that provides frameworks for building secure smart contracts, and input the name of your token, token symbol, the number of coins you want (Premint), and what features you want to be attached.

Once complete, click the Open in Remix button shown below.

➡️ Next, Compile your Cryptocurrency by clicking on the highlighted tab on the left-hand side and clicking the pretty blue box that says Compile contract

➡️ Finally, Deploy your Cryptocurrency by navigating to the next highlighted tab shown below. Once you do that, change your contract environment to “Injected Provider - MetaMask” (the first option) and click the orange box labeled Deploy.

After a quick transaction signature, your coin creation is complete! You will be prompted with an Etherscan link tagged to your coins contract so you can shill your heart out responsibly 😉

🤝 GETTING INTO BLOCKCHAIN?

The boomers of the financial industry are developing their own blockchain.

You can’t make this up. Let’s dive in.

What Happened? Digital Asset, a financial technology firm, is launching a privacy-enabled blockchain called Canton Network.

However, to the surprise of many, Goldman Sachs and Microsoft are two among a list of partners involved in the development of this project.

Why is This Important? The involvement of major financial and tech players signifies blockchain technology's growing interest within the traditional industry.

However, this story is spicy because Goldman Sachs and Microsoft, two well-known financial old-heads, have historically been against cryptocurrency and blockchain technology, calling both “dead” handfuls of times.

If you can’t beat them, join them, amirite? 👀

How Will This Affect Web3? Privacy-enabled blockchains are a spicy topic in the crypto landscape, seeing as the ethos of blockchain is to be open-sourced and transparent.

As Canton Network would be mainly for institutions, you can imagine the criticism this would receive from retail Web3 users, especially since many retail investors are banned from using privacy protocols themselves.

For example:

• US-based users banned from using Tornado Cash

• Australia and South Korea have banned exchanges from offering privacy coins,

• Japan has banned privacy networks entirely.

Is This Bullish or Bearish? There are definitely two sides of the coin here, as is with everything in Web3. However, at the end of the day, this is extremely bullish for the blockchain and crypto industry.

Although it may not be how we hoped it played out, big players are entering the space and flipping their script for the world to see.

Seedphrase Take: Adoption is inevitable.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.