Making $500 daily with NFT sneakers??

May 16, 2022

Morning family, 

Seedphrase Daily here, where we review the market for you, so you can review your life decisions. Hope you had a weekend full of fun because the market did not. 

Today’s estimated read time is 3 minutes and 11 seconds. 

  • 🤯 Making $500 daily with NFT sneakers 

  • 📣 FTX CEO exposed for spoofing the market from 28k to 69k

  • 👏 Quick Node acquisition of IcyTools

  • 🐻Surviving a bear market… 

  • 🌱NewSeeds

Here's how you can get paid to run

STEPN

It's a fitness app that pays users in crypto for walking, jogging, or running. The idea behind STEPN is simple enough. After you download the app and get NFT sneakers from its marketplace, you get paid in crypto for walking, jogging, or running outdoors.

It allows you to make money while running, however, the money you make is coming from the people who initially purchase the NFT

Their system reverse engineered works like this:

Meaning if NO investors enter at the bottom, there’s no money to pay the users who are running.

This is why this app has been labeled “pyramid” by the community.

How he schemed a pyramid scheme

A Youtuber that goes by the name of Biaheza used the STEPN app to generate an income, he took advantage of this app and the results just might blow your entire mind

Biaheza used his entrepreneur wired brain and ingenuity to turn this system in his favor in order to flip a profit

STEPN limits the amount u can earn each day, so Biaheza used FIVE phones instead of ONE in order to make $573/day. After 3 days he made over $1500 profit.

2 lessons to take away from this

1: This whole endeavor teaches us to LEARN the fundamentals of flipping a profit as a hustler. Once you crack the code, you can apply it to NUMEROUS use cases as displayed by Biaheza in this video.

2: There’s always a way around, figure out how to hack the system

If you want the full video, it's here.

Talk about running to the bag, and he's killing two birds with one stone. Is something like this sustainable?

FTX spoofing the market from 28k to 69k?

Big News alert!

The Ceo of FTX and the founders of Alemeda Research (crypto trading firm) have been receiving some heat by an investor in the cyber security field. These accusations include spoofing the cryptocurrency market in November from 28k to 69k. 

What is spoofing, and what does this mean? 

In the context of information security, especially network security, a spoofing attack is when a person or program successfully identifies as another by falsifying data to gain an illegitimate advantage.

To be clear, there was a 98.1% cancellation rate for those spoofing orders. 

These manipulations are ruining the market, but they're also counter-trading their customers. Back when president Biden won the election in 2022, Bitcoin rallied from 16k to 65k. However, their bags weren't juiced up yet, forcing Solana to not follow along with their market manipulations. 

Sam Bankfield was the cofounder of Alameda research; however, after they were exposed, he removed himself from Ceo to avoid conflict.

Following that, they released a soft market regulation against this act. This soft regulation allows their crypto buddies to continue to commit market manipulation.

If it's that easy to manipulate, and with the CEOs of these big exchanges holding so much power and money, can crypto truly be fully decentralized?

Quick Node acquisition of IcyTools

QuickNode is an NFT marketplace aimed at NFT creation, management and monetization tools to offer users the ability to create their own NFT marketplace and projects at scale.

Cargo's batch minting approach, using a newer ERC-2309 standard, allows creators, developers, and businesses to create an unlimited number of NFTs in one transaction at a price-point similar to creating just one NFT on other platforms.

QuickNodes purchased Icy Tools, one of the largest NFT analytics platforms that lets users discover, track and analyze trending NFTs with access to real-time price and volume data, historical charts and transaction histories.

They raised a total of $35M Series A funding last October. 

Surviving a bear market… 

Another Seedphrase sit-down, where we try to give you tips and help you through your journey. Today is about surviving the bear market. Are you down bad now? Your all-time high wallet net worth is only visible with a telescope?

First things first, you must review your emotions. How are you reacting to this drop? Are you acting on feelings, panic selling, unsure about your investments, or are you scared to lose all your money? This will teach you about your psychology and how much risk you can tolerate.

Second, forget about where your wallet was before. That number is utterly useless for making good decisions in the future and will only hold you back if you keep holding onto something that isn't there anymore. 

Next, you must think about your non-crypto life, your job, if you have one and your fiat cash flows. Keep fiat cash flowing for 99% of you, for as long as possible. This will give you cash to invest in crypto and more peace of mind during the market swings. Often people are emotional because they are investing more than they are willing to lose, risking their houses and taking out loans in extreme cases. 

Lastly, how can you bring value to the crypto space? This space is short of developers, marketers, technical writers, accountants, and more. Having these skills can help you not only learn more about crypto and possibly give you a career in Web3, making money regardless of the market cycle.

A few cool stories here: 

Dwayne Wade is now getting into NFTs. More and more people are getting into this space every day. 🧍

Luna is pumping up over 1,500%. This has been fun to watch. Did you play this? 🤣

That's all for today, folks. We hope you enjoyed today's newsletter. If it's that easy for big exchanges to spoof information, could the market be manipulated? I'm trying to think of a joke that I could put here to change the mood, but I can't think of one, so to change notes, did you like the new Kendrick album? Make sure to follow us on Instagram and Twitter. And reply to this email with your thoughts. We'll be here. 

With that being said,  

See you soon. ✌️

Meme of the Day 

Disclaimer 

None of this is financial advice. This newsletter is strictly educational and is not investment advice or 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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