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Otherside NFTs Sell Millions, Crash Ethereum

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7 months ago

Yuga Labs sold $561 million in Otherside NFTs in 24 hours making it the largest NFT mint in history. So many people went ape over the metaverse art that Ethereum crashed and burned like a Japanese WWII pilot. Land plots went for $5,000 in virtual la-la land. This happened on Saturday night when young stud muffins should have been out on the dance floor pretending to be John Travolta in a bad 1970s movie. Word has it that NFT junkies paid thousands of dollars in gas fees while the blockchain flipped them the finger. ApeCoin slid 40 percent in the after-party cool down period. On the bright side, OpenSea is now accepting ApeCoin. If you’re wondering why Ethereum is always the center of some high drama, it may be because there are just so many coins, token, developers, and other midnight lovers clamoring all over each other to get a piece of the blockchain’s sugar beef.

One bitcoin miner explains how he made $140 million in one month. Warren Buffett says he wouldn’t pay $25 for all the bitcoin in the world. Elon Musk makes fun of him. The truth is, no one understands bitcoin and the bitcoin halving schedule suggests the world’s favorite cryptocurrency is destined for $24,000Beware the naked man who offers you his shirt.

The Wikimedia Foundation has ceased accepting cryptocurrencies. Less than 1 percent of funds received last year were in crypto.

If the real Satoshi Nakamoto walked into the room, what would be the first thing you’d askCan I have a pancake, you sly devil?

Should there be a global approach to crypto regulation? The only way that could happen is if every nation gave up national sovereignty and crowned some international agency king. Let’s hope not.

Is Tennessee the next tech hub for Web3 entrepreneurs?

If you’re one of these goobers caught by the predictive typing buzz, you might want to tame your phone. Predictive typing makes it easier for hackers to steal your crypto. Of course, saving your crypto on your phone makes it easier for hackers to steal your crypto.

The metaverse is worth $8-$13 trillion. One prognosticator has three reasons she’s nervous about the metaverse real estate boomIt may be because she can’t figure out where the back door is. Meanwhile, VentureBeat wants to know how we can make the metaverse safeI know, I know! Don’t let the wicked in.

Ukraine sends Elon Musk a love token.

The Philippine central bank is getting in on CBDCs.

Snark and commentary in italics. Except where otherwise noted, I am not giving financial advice. If I were giving financial advice, I’d note it. But I’m not.

Cryptocracy is a decentralized newsletter published 4 times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto.

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First published at Cryptocracy. Not to be construed as financial advice.

Image credit: Decrypt

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