GM 👋 this is Seedphrase, the joystick for your crypto games. We make this S*it fun.

📓 Today’s Agenda:

• 🔥 Crypto Headlines

• 👑 Polygon has a King

• 🕹 A Peak Into The Future

• 💸 The next big Airdrop?

• 🗓 The week ahead

🔥 HOT HEADLINES

📉 Crypto & The Markets:

• Nasdaq to offer Bitcoin and Ethereum trading - Read more!

• The G7 will collaborate on tighter crypto regulation - Check it out

• How much crypto should you have? Tim Draper breaks it down!

🖼️ NFTs:

• Yuga Labs teases a new collab with Gucci - Learn More

• Pudgy Penguins Rogs enter a new era…Check it out!

• Amazon’s entry to NFTs has been confirmed - Read more!

• First-ever NFT in Fortnite! Check it out

• The latest Adidas NFTs are released - Take a look!

• This NFT trader is down 4600 ETH ($8.2M) in the last 2 months - Ouch!

🤖 AI:

• Up to 80% of workers could see jobs impacted by AI - Read more!

• AI blows away a Wharton professor - Check it out!

🗓THE WEEK AHEAD

Last week, we were all patiently waiting for the Fed to announce their decision on interest rates (well that and your horoscope you of course).

This week we have big announcements that could impact the markets:

• CB Consumer Confidence

  • A metric to track consumer attitudes; buying intentions, vacation plans, etc.

• Unemployment Claims

  • Cash payments made to individuals after they have been laid off from their jobs

• Core PCE Price Index m/m

  • Measures the prices paid by consumers for goods and services excluding food and energy

Don’t worry, we won’t test you. We’ll break these all down for you throughout the week!

👑 POLYGON HAS A KING

We knew it was coming and now we know when y00ts are bridging to Polygon TODAY!

Catch up quick: y00ts is a PFP collection created by Frank DeGods (not coincidentally, he’s also the creator of DeGods)

• y00ts was originally launched on Solana in September 2022

• The collection took off because of the success of DeGods

• y00ts became the 2nd most popular collection on Solana ($3.9M total volume)

• In December 2022, Frank announced y00ts would be moving from Solana to Polygon

Why are they moving? Solana took a major hit in November when we found out FTX was completely fraudulent (still not over it, Sam). Both FTX and Alameda were major investors in the Solana ecosystem.

Here’s what Frank had to say immediately after finding out about FTX:

Nobody wanted to be associated with Solana, and Polygon saw this as an opportunity to attract one of the largest NFT collections. They offered Frank a $3M grant to move y00ts. DeLabs (the company behind y00ts) will put the money towards a crypto incubator to support the NFT ecosystem.

Are there any risks with moving? Absolutely! This isn’t like a company relocating its headquarters. All holders will be required to move their NFT and there is a risk that not all y00ts holders will move their NFT to Polygon.

What do we mean? If only 50% of holders bridge their NFT, then the collection is split between two chains. Which chain is the “right” chain? What happens to the y00ts on Solana? Will the price on Polygon be impacted based on how many y00ts are still on Solana?

Another major risk: The NFT ecosystem on Polygon is MUCH smaller than on Solana. Wale.Swoosh pointed out that the top Polygon NFT collections have less than 5k MATIC (equivalent to 300 SOL) in volume.

For comparison, y00ts did 44k SOL in volume in the past 24 hours. That’s 145x bigger!

Is the Polygon NFT scene even strong enough to support y00ts?

These are all questions the DeLabs team has to answer. Here’s how they’ve responded:

How is the team handling this? The DeLabs team is incentivizing people to move to Polygon in a few ways:

1. Magic Eden is paying ALL gas fees for bridging

2. All holders that migrate in the first 24 hours will be entered into BTC DeGods raffle

3. y00ts that remain on Solana will lose all benefits

4. “Paper Hands Bridge Tax”: y00ts that remain on Solana will have to pay a 33.3% royalty fee

Takeaway: There has never been a collection of this size move chains. Frank and the team have prepared as much as they can but at the end of the day, it’s out of their control. The NFT world is watching and no matter what happens, we will all be part of NFT history!

🤝 TOGETHER WITH QUIDD

Quidd x Sandbox Drop - Get $25 Sign Up

Prepare to blast off into the future with the most epic 3D digital collectibles collection yet!

Today only March 24th, you’ll be able to collect the coolest space travelers who are brave enough to settle on the red planet, Mars.

Not only are they the:

• FIRST MULTI-ANIMATION

• FIRST MINT 2 PLAY

• FIRST TRUE UTILITY 3D figures on Quidd

They will also SOON be playable in SANDBOX as your personal AVATAR, with instant mint to Opensea and Rarible!

🕹 A PEAK INTO THE FUTURE

For the 2nd time ever, Otherside holders were able to enter their metaverse.

Here’s how it went:

The four teams began in a lobby before a portal opened signaling the start of their trip.

Players were instructed to collect “magic blobs” that the surrounding toadz required

Once the toadz were sufficiently fed, they would shoot at another portal.

The 2nd portal eventually broke down and players were able to continue forward.

Their task remained the same, collect magic blobs and feed the toadz.

However, this time, the toadz shot at a pyramid AND at each other.

Finally, the teleporter opened revealing “bone land” where the winning team was announced.

For the best pictures of the trip, check out this thread from wale.swoosh!

What this means for you: Building a video game is extremely difficult. By no means was this the greatest video game ever created but it does show us that Yuga is making progress.

Yuga Labs has a lot going on between Otherside, the Sewer Passes and their first Ordinals collection.

Some people are worried Yuga is spreading itself too thin with all these different storylines.

What do you think? Respond to this email letting us know if you were impressed by the 2nd Otherside trip or if this was disappointing!

💸 THE NEXT BIG AIRDROP

Speculating on a token airdrop can be extremely lucrative.

There were some people that made over $100k in the Arbitrum airdrop!

Ah yes, another day, another opportunity to fade generation wealth!

But wait, I have good news for you!

Over the past week, zkSync used more gas than any other protocol (up 779%).

What is zkSync: There are two primary ways a Layer 2 solution can settle transactions on their Layer 1:

1. Optimistic (ex: Arbitrum and Optimism)

2. Zero Knowledge (The zk in zkSync stands for ‘zero knowledge’)

zkSync is a Layer 2 solution built on ethereum that uses zero knowledge proofs to settle transactions.

So what? Well, the creator of ethereum, Vitalik thinks zero knowledge proofs are the future. So yeah, we should probably pay attention to it.

What you should do: Nobody knows exactly what qualifies you for the airdrop…BUT we can make an educated guess. Check out this thread from serp1337 for a check-list of tasks:

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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.