🙊 Here's Something You've Never Seen Before

August 17, 2022

Seedphrase Daily 👋 Have you seen our new email design? We're trying to flex on our ex, not sure if it's working... Emily if you see this please call me

Here's A Meme to Get Your Juices Going:

True story. Anyways,

Today's Agenda 📓:

  • 🙊 Is the NFT Model Forever Changed?

  • 🏨 Houston Texans Adopt Bitcoin

  • 🤔 Should we be Concerned about Crypto.com?

NFTs have practically been worshiped by some because they changed the game for creators. No more starving artists, thanks to the royalty every NFT sale produces. Gary Vee goes nuts over the royalties, saying it's going to revolutionize the creator space.

But you knew that. We're not new to this, we're true to this.

So what's the fuss about?👇

The launch of SudoAMM, a new marketplace from SudoSwap that does not honor artist royalties has sparked the conversation to a new level. They allow sellers to save 5%-10% by getting rid of creator royalties on their sales.

Let's dive into the importance of royalties.

What would happen if they disappeared? 🪄

  • Mint prices would increase upfront because projects would not have cash flow to keep building.

  • To secure profits, devs will be incentivized hold a majority of the supply and dump at the top.

  • Short-term pumps would be rewarded, and rugs will become even more common.

  • We would be returning to Web2 standards, where artists do not get much upside for the use of their content.

Why should I care? 🧍‍♂️

Royalties are a huge incentive for projects to continue to build and grow. Without them, most devs will just just jack up mint prices to compensate and eventually abandon the project since there is no upside after minting out.

When you pay royalties, you directly support the project and are helping it grow. Royalties are the only way to show your NFT purchase is an actual investment.

If you're not willing to pay royalty fees, then you probably shouldn't be buying the project in the first place. Unless you're a total degen. Those guys are lawless.

Looking to take that girl on a football date but you put your life savings into BTC?

I've got news for you. The Houston Texans are the first NFL team in history to accept Bitcoin payments for single-game suits via BitWallet.

Bitcoin maxi's rejoice.

Crypto.com is the exchange for normies. With a relentless advertising campaign, they managed to get the rights to change the Staples Center to Crypto.com arena.

In June, they laid off 5% of its workforce and said that would be the end of it.

They Lied 🤥

A whistleblower released information that they were going to lay off employees on Friday, which "will be much bigger than the first one."

The employees affected are working in products like exchange, apps and wallets.

What else are they hiding? 😑

  • They fired more than they disclosed (260 employees were fired, but in reality, the number is more than 1,000 employees, which is ⅓ of their employees).

  • They are cutting down to the bare minimum to survive the bear market.

Be on the lookout 👀

Even though they are one of the biggest exchanges, who knows what else they're hiding?

Exchanges are hurting due to the bear market and are cutting costs to survive.

Make sure your money is in a cold wallet, and be concerned if they start halting withdrawals.

🌱 NewSeeds

That's all for today!!

Bitcoin has grown by over 500,000% during the last nine years.

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.

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