🧠 How Ye’s situation with JP Morgan makes us more bullish on crypto.

Seedphrase Daily 👋  The funniest crypto newsletter on the internet that makes you think like Satoshi in less than 5 minutes.

Today's Agenda 📓: 

• 🧠 How Ye’s situation makes us even more bullish on crypto. 

• 👀 Magic Eden makes creator royalties optional

• 🏦 MetaMask adds instant Bank-to-Crypto transfers. 

• 😳 Meme of the Day

🧠 How Ye’s situation makes us even more bullish on crypto. 

JP Morgan, one of the most "trusted" banks, closed Kanye West's accounts for saying something they didn't like. 

How did Ye get here… 💀

In short. He's been saying some wild things. 

And some of it can be taken offensively by people looking from the outside.

For starters, he tweeted, "go death con 3 on jewish people", amongst other things that go against the agenda of the elites in power. 

And just like we've seen with the Tate ban. Kanye has been blacklisted from almost every institution, even the banks. 

Now he has until November 21st to use the banking service but then has to move his funds to a new institution. 

Matrix exposing itself. 😭

Despite controversial opinions, this situation shows how easy it is for centralized corporations to close accounts and withhold assets, no matter who the person is. Suppose you say something they don't like, and boom. You're gone.

What's this show???

It shows that if he can get shut down, anyone can. 

Crypto saves the day. 🤝

This is why crypto, especially BTC, is a fantastic currency. No one can stop you from making a transaction or censoring your funds. It's a self-custody asset that does not need any 3rd party to function.  

And the only way to do so is to shut down the internet or destroy every single miner on earth, which is technically impossible. 

Crypto is the future of having a genuinely free economy, and that's why we're so adamant about it being an asset that will take over.

Advantages of using crypto for the average joe 👇: 

• Keep more money for yourself instead of paying 3rd party fees from the banks. 

• Secure transactions from wallet to wallet. 

• You never have to verify with anyone if you want to send money to your family abroad. 

• Operates 24/7; no one likes waiting five business days to receive their money. 

Banks aren't your friends. Even if you're making billions of dollars, they will shut you up if you're doing something they don't like. 

⚜️Golden Nugget: Forget the noise, 1 BTC = 1 BTC. 💪

👀 Magic Eden makes creator royalties optional

The meta is shifting towards 0% royalty fees. After DeGods announced they wouldn’t take any fees, marketplaces like Yawww and Hadeswap have been trying to compete with ME.

To keep up, Magic Eden, SOL’s most prominent marketplace, has decided to make royalties optional. 

Now traders can flip their NFTs for more profits, eliminating the regular 1%-10% that most marketplaces charge.

How it works 🧐:

Typically the creator fees are built into the smart contract of the NFT collection; hence people pay 1%-10% of every transaction. 

But this is not immutable. Meaning marketplaces like Yawww, SudoSwap and now Magic Eden can code around it to let people buy and sell without paying. 

The dark side 🪙:

Other than creators not getting paid and the whole space having a shift. 

There’s also: 

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

• Devs securing profits: Some founders will likely hold most of the supply and dump at the top. 

• Short-term pumps are rewarded: Innovation would be slower since founders focus on selling out the project instead of building along with the community.

• Returning to Web2 standards: Artists will be paid perpetually.

The bright side ☀️ : 

• More profits: if you sell an NFT for $1M, instead of paying 100k (if the creator fee is 10%), you will pocket that money for yourself.

• Founders forced to innovate: If the main incentive for founders to build goes away, it forces them to find new creative ways to scale and solve problems with the project rather than depending on secondary sales.

This could be an overall W, as it pushes devs to innovate the space. Everyone needs a push to do something great, and we’ve seen the same story for the past few months repeat itself. So 0% royalties could be that conflict founders need to propel the markets to the mainstream.

Official Announcement.

⚜️ Golden Nugget: Lookout for more marketplaces adapting to the new meta. Also, this is your time to make more profits by buying and selling NFTs.

🏦 MetaMask adds instant Bank to Crypto transfers.

If you want to move your money from the banks, MetaMask, one of the biggest crypto wallets, will make it easier for you to turn fiat into crypto.

With the help of Sardine, users will be able to fund their crypto wallets via bank transfers instantly instead of having to wait for traditional fund transfers to clear. 

A little about Sardine. 👊

• An Automatic Clearing House (ACH), where you can buy crypto without worrying about where and who is looking at your money moves.

• They've raised $51.5M in series B funding with Andreesen Horowitz. 

• Their users experience 90% less identity fraud. 

Benefits of Sardine 🤝: 

• Users have a daily limit of $3,000.

• They ensure security over fraud and illicit activity, with fraud prevention detecting 300% more than other vendors. 

• It makes the process of buying crypto more streamlined for the average joe. 

• Less wait time to get access to your crypto as funds deposit instantaneously. 

The little steps will take us further, even if it doesn't seem significant now and prices are moving sideways. Making the process easier for joe down the block to buy crypto will help the space in the long run.  

Check out their Website for more info!

Stay strong kings and queens.

😳 Meme of the Day

Buckle up. 

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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