GM Seedphrasers 👋 we’re back like the crazy ex you can never get rid of.

📓 Today’s Agenda:

• 🔥 Hot Headlines

• 🏳 Meta Quits NFTs

• 📙 A Head Learned Crypto Lesson

• 🕹 $160K+ on an In-Game Digital Skin

📉 Crypto & The Markets:

• California Governor Busted for Failing to Disclose Personal Ties to SVB While Lobbying For a Bailout - See how

• Meta Drops 10,000 Jobs After Scrapping NFT Plans - Learn More

• Inflation Falls to 6% While CPI Comes in at 0.4%, as expected - Check it Out

• Epic Games to Add Nearly 20 Crypto-enabled Games to Marketplace by Next Year - Learn More

🖼️ NFTs:

• Memeland Captainz Questing (Staking) is Now Live - Learn More

• Blur Now Notifies You When Your NFTs Sell and When You Bids Get Accepted - See How

• CryptoPunks Reclaim The Thrown After Flipping BAYC - Check it Out

• RTFKT x Nike Air Force 1 Forging Event Set for March 24. - Learn More

🤖AI:

• OpenAI announces GPT-4, claims it can beat 90% of humans on the SAT - Learn more

• Google Ai is working in the healthcare industry - Check it out

🏳 META QUITS NFTs

What Happened?: Meta has discontinued its NFT development and will soon remove any NFT-related features from Facebook and Instagram.

So much for onboarding millions into Web3 😭

What Went Wrong?: TLDR from Meta’s Lead of Commerce & FinTech: “We tried, but nobody cared.”

How Does This Affect Web3?: Facebook and Instagram have never played much of a role in Web3. Yes, Meta changing its short-term plan is a letdown, but it only sets the space back a little, if at all.

At least Coinbase isn’t alone in its L anymore!

The Takeaway: Meta is one of many large failed onboarding attempts. This may be a hard pill to swallow, but this shows that Web2 isn’t ready for Web3.

However, Facebook and Instagram were already irrelevant in the lifecycle of Digital Collectibles (or NFTs for you nerds). Therefore, this event is nothing more than a smack in the butt and nothing we can't handle.

🤝 TOGETHER WITH UPSIDE

Don’t cut back, get cash back

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Upside users earn 3x more cashback than other apps and rewards programs. On average, frequent users earn $340 a year.

Get an extra 25¢/gal cash back on your first tank of gas. Download the free Upside app and use code: “BHBusiness25”.

📙 A HARD-LEARNED CRYPTO LESSON

Pain is one of the best forms of learning. Unfortunately for the crypto community, we never learn our lesson.

There are several unspoken rules within the crypto space. Whether you know them or not can significantly affect your experience. Let’s make sure you are well informed!

By the end of this, you’ll understand:

• Narrative Shifts

• NGMI Mindset

• How To Be Early

➡️ Quick Narrative Shifts

Narratives change very quickly in the crypto markets. If you hold onto a specific narrative for too long, you are bound to be someone's exit liquidity.

The following are four narratives that were HOT last cycle that rekt traders in the long run:

• Bitcoin to $100K

• DogeCoin to $1

• Ada Flipping Ethereum

• DeFi 2.0

Ask anyone who bought these last year why did they sell, see the response “brooooo”

➡️ Not Everyone is Going to Make it

According to CoinGecko, there are over +11.4K different cryptocurrencies.

That is an intimidating number and is hard for most newbies to understand. However, 99% of projects will not succeed, so sticking to the top (100 by MCAP) cryptocurrencies is the best bet for long-term success.

Or you can fade generational wealth, like me (kinda)!

➡️ If You’re Reading This, It’s Too Late

The earlier you are to a project or narrative, the higher your chance of making money.

Most of the time, once you see a project plastered across socials by crypto influencers, it's already too late. FOMO is one hell of a drug, so don’t be the sucker that gets dumped on!

To learn more, check out the following post by Route 2 FI, where he provides eleven additional lessons from the crypto market

🕹 $160,000 ON A GAME SKIN?

If you had to choose between this digital in-game skin or this house, which are you picking?

What Happened?: A Chinese collector purchased a digital AK-47 cosmetic in the game Counter-Strike: Global Offensive (CS:GO) for approximately $160,000

🤭 Fun Fact: This is one of the highest publicly-known sales of its kind. (But don’t worry, NFTs are a scam!!!)

Why Should You Care?: CS:GO's in-game economy perfectly illustrates the synergy between NFTs and gaming. Over time, upcoming Web3 games will likely create similar systems.

Pro Tip: Parents, hide your credit cards.

Bullish or Bearish for Web3?: As gamers continue to spend money on digital goods, it becomes easier for them to grasp the concept and value of NFTs. Especially with sales of this size, the notion of NFTs and their ability to enhance user experiences becomes more bullish.

🧠 Want To Advertise With Seedphrase?

😂 Meme of the day:

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.