🧠 Get caught up in 3 minutes

Seedphrase Daily 👋  Crypto is getting packed like a kids' lunchbox. And we've got all the snacks you need.

Today's Agenda 📓: 

• 🚨 Up coming dates you need to know

• 🎬 Warner Bros drop shockingly terrible NFT

•  ✍️ Sam Bankman Fried: hero or evil genius?

• 🛹 Azuki makes $2.5M on....skateboards?

•  🇧🇷 Brazil: a humanitarian case for crypto

• 😂 Meme of the Day 

🚨 Important dates to know

It's that time of the month when things can go into the red- and no, we aren't on our period. It's earnings reports!

The FED is looking at this closely. If companies don't slow growth, it means market demand hasn't slowed. The FED will continue to raise interest rates until they see significant signs of the economy cooling down. 

Here are the most critical dates:

Microsoft earnings report: October 25, 2022. 

Meta earnings report: October 26, 2022.

Apple earnings report: October 27, 2022. 

Amazon earnings report: October 27, 2022. 

Bonus: Elon Musk must buy Twitter or go to court: October 28.

🎬 Why no one bought Warner Bros’ NFT

Have you ever wanted to own a digital version of Lord of the rings? If so, you're probably one of the 4283 people who have minted Warner's NFT for $30-$100. 

On October 21, they launched the movieverse, where they would take scenes from famous movies and turn them into NFTs that gives you: 

1. The whole film in 4k with all bonus scenes 

2. "Fellowship"-- basically bragging rights to tell your friends. 

3. AR collectibles correlated to the movie.

The first dip into the Movieverse was Lord of the rings, one of the most popular franchises released in 2001.

So far, they barely managed to sell out 50% of them.

Why did no one buy it?

For starters, you can buy the movie on Amazon for a fraction of the price, $10 to be exact. 😂

On top of that, they are using this launch as testing grounds for future Web3 movie experiences. 

Since the movie has been out for so long, the idea of owning it isn't as cool. Just a weird flex and a few AR NFTs that don't hold any value right now. 

But it is fantastic to see a colossal industry finally getting into Web3. 

No one learns how to ride a bike on the first try, so they may have more success in the future. 

Their catalogue currently consists of 

• Batman

• Mad Max

• Inception

• Hangover 

• Looney Toons

Safe to say, they have a good foundation and whether or not they want to advance depends on the market. NFTs of newer/unreleased movies could be the newest wave, especially if they can implement a DAO that allows holders to dictate things that can happen in the movie.

Just ideas, though. Stay safe, Warner Bros. 

If you're curious, here's the link to the Movieverse.

🛹 Azuki made 2.5M on.. skateboards?

Last week, we talked about the new Azuki PBT (physical backed token). This is what happened when they dropped.

TL;DR

• they released 8 skateboards, plated in 24 karat gold. 

• Only 145 total bids places

• PBT reverses the NFT game with scan-to-own: PBT is bought first, a chip is embedded on the physical product which is then scanned with a smartphone to get the NFT that verifies its authenticity and ownership.

How much did they sell for?

There were a total of 145 bids on the skateboards. And all 8 of them were sold for a total of $2.5M in ETH. The highest bidder paid 309 ETH (approximately $400K).

Pretty good for a "scam" project.

✍️ Sam Bankman Fried addresses regulation and controversy.

Let's make this short: here's his stance on crypto regulation and the backlash he received from the community. 

• We should put "bad actors" on a blocklist (i.e what OFAC is doing with Tornado Cash, or how the “no fly list” works for airlines)

• Force US retail to KYC certain DeFi apps (eg. Uniswap)

• DeFi front-end applications should register as broker-dealers

Um. We'll be honest here. This is exactly what crypto is NOT about. Crypto is a way to get away from the tyranny of government. 

But we do appreciate his transparency, and he replied to a lot of people criticizing him: 

Here's his full tweet about regulations.

The backlash. 

SBF is a massive influence in Web3, and his policies could be a catalyst to destroy his competition and benefit his exchange in the long run.  

Many people are saying that the regulations he's proposing will kill his DeFi competition. Remember, FTX is CeFi. The rules for CeFi are a disaster for DeFi.

🇧🇷 Brazil: a humanitarian case for crypto

Brazil has been hit hard with high inflation and financial issues (it's almost like we're in a global crisis). So Tether ($USDT) is here to show the world what crypto is about: 24K ATMs across Brazil will now offer USDT.

How it works: 

• The ATMs will instantly convert Brazillian reals into USDT and vice versa, allowing them to send their money anywhere in the world for almost free. 

• Tether partnered with Brazilian payments company SmartPay, which helped integrate USDT with Brazilian payment system PiX and TecBan, the largest ATM provider in brazil.

This offers more inclusive financial opportunities for the people of Brazil whose paycheck loses value the minute they receive it. 

Stablecoins like USDT have gained popularity in Latin America with easy accessibility and the utility of a store of value that has proven less volatile than national currencies.

This is HUGE for the space. 

If it is successful, so many countries with horrible inflation could adopt this strategy

• Cuba

• Venezuela

• Argentina

• Nigeria

• Iraq

• Yemen

The list goes ON AND ON of countries with crippling inflation. Stablecoins can re-empower citizens who have watched their money go to zero over night. It gives them a means of exchange that actually has value again.

The only problem looming on our minds is because stablecoins are usually tied to the U.S dollar; what happens if it goes to shit? Guess that's something to think about when the time comes, LOL.

😂 Meme of the DayWho's still here?

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