In This Issue
- I share my thoughts on the state of the market, CPI data is in, Solana NFTs, ETH POW & So many upgrades.
- Sam has a report for you on 3 innovative NFT projects.
Premium members also get the following:
- My latest portfolio updates
- Rekt Capital has the latest technical analysis for you on the market.
- Rebecca has all of the latest news for you.
- Upcoming NFT drops
- Defi Dad has a tutorial for you on how to earn up to 70% APY lending ETH during The Merge.
- Jesse has a ton of hot new airdrops for you.
- Hot new token sales.
- Rebecca breaks down this week’s trending coins.
- Jesse has a deep dive for you on VeChain.
And much more!
What’s On My Mind by Lark
The State of the Market
Another rocky week for the markets. We faced cross the board rejections on the news that the US inflation numbers hadn’t come down as much as expected. More on that in a moment.
Bitcoin is once again trading under $20,000. The rally was quite short lived this time. Just a short pre-inflation release pump. These kinds of short rallies followed by big dumps are so typical of a bear market.
Analysts at the big banks are still calling for more downside for the stock markets, and that likely means more downside for crypto. I don’t love that we track so closely with equity markets now, but that is indeed the case for crypto.
We remain deep in bear market territory. I would love to see a change soon, but that is only wishful thinking.
We have significant macro head winds still including
- EU Energy Crisis
- Recession Fears For USA, UK, and EU
- Cooling Housing Markets Globally
- Taiwan – in particular, proposed US sanctions on China
- Ongoing Supply Chain Disruptions
- Growing Civil Unrest
And like a dozen more things. There is not much to be bullish about in the short term. Bear market rules remain in effect which means preserve capital, optimise for survival, and go slow.
CPI Data Is In…
The US inflation data has come in, and it has gone down again from 8.5% to 8.3%. The market had been expecting 8.1%, so while it did go down the market freaked out over it not going down enough.
To be clear 8.3% inflation is bad. The target from the FED is 2%, and we are far from that number. Expect markets to remain bad until we get some real downward pressure on inflation.
Solana NFTs Taking Flight
Solana NFTs continue to be the talk of the crypto town. Solana mints hit a new all time daily high the other day at more than 300,000 NFTs minted.
Trading volumes continue to close in on Ethereum with one day last week seeing Ethereum trading volume at 8.5 million to Solana’s 6.5 million. Although that has fallen back a few million as of today the trend seems to be more and more people doing the NFT thing on Solana. And it makes sense the NFTs are dirt cheap to mint and trade on Solana.
Solana NFTs, if you are into NFTs, are definitely not something to ignore!
ETH POW FORK COIN
Remember that there is an Ethereum Proof of Work fork coin to claim! If you had your ETH on an exchange like Binance this will be automatically debited to your account. Full transparency this is what I did because I am lazy and slightly paranoid.
If you had your ETH on a wallet like your Ledger then you will need to manually claim it. At the time of writing the details of the new chain’s RPC had not been released, but it should as easy as adding a custom RPC for a coin like Polygon.
That being said, there is a danger of relay attacks. If a POW fork launches with the same chain ID as proof of stake Ethereum then your transactions on the fork chain can be validated on the main ETH chain as well potentially allowing for your wallet to be drained. One step to avoid this would be move all of your assets to a new wallet and then claim the fork coins.
Most of us are not often paranoid enough in crypto. Be advised that claiming from a wallet where you control the keys does require a bit more tech savvy, and if you do not feel comfortable then understand it may be better to either miss out on the little bit of money from the drop or to wait for safer conditions to claim.
Also keep in mind that the Ethereum Miners have announced that they will launch their fork within 24 hours of The Merge happening. So while the snapshot will happen when Ethereum transitions to proof of stake, the fork token will not come at exactly the same time.
Be careful not to click on any links or to trust anyone. Never give out your private keys! Double check everything. Do not rush, nothing is time sensitive.
BTW, I plan on selling mine. No reason to keep that.
Soooo many upgrades coming!
The Ethereum Merge is not the only show in town! Many other networks have big upgrades coming soon. Although how much the market cares remains to be seen. That being said, here are the ones to watch.
September 21st: EOS is undergoing a major upgrade. I’m going to be honest. I am not a big fan of EOS, but I also have not used the blockchain since 2018. Everything about Block One left a bad taste in my mouth, since they basically used the 4 billion they raised for their token sale to buy Bitcoin and then not develop the blockchain while slow rugging everyone. It seems the community agreed that this was shit behavior, which is why they basically fired them.
The September 21st hard fork will completely remove Block One from the picture and pave the way for new critical upgrades to make EOS good again. Integration with the Cosmos IBC will allow for EOS to be much more compatible than it currently is. And there will also be Ethereum Virtual Machine compatibility which is a big deal.
September 22nd: Cardano’s Vasil hardfork is scheduled to go ahead. This is a critical upgrade to unleash the power of Cardano. The network has been held back by clunky defi, but this upgrade should allow for a big surge in growth for this widely held and popular coin.
September 28th: is when it is widely expected that Cosmos 2.0 will be announced at the Cosmosverse conference. Cosmos’ ATOM token has long been a rather disappointing coin due to it not really capturing any value.
While the Cosmos ecosystem is big, interesting, and robust, the main chain and the ATOM token have languished. But it is anticipated that the Atom 2.0 announcement will include new value captures for ATOM token holders. Plus the Cosmos IBC is pretty damn cool already, so maybe this is one worth paying attention to?
Dogecoin vs Shiba Inu by Jesse (Premium Article)
After the creation of Dogecoin, many meme coins have come and gone in an attempt to capture the hearts and minds of the internet. That is where these ideas are born and nurtured, from BabyDoges and BuffDoges to PepeCash and CumRockets. The internet is never in short supply of lolz.
Finding a meme and turning it into a Coin seems like a simple enough requirement, but this alone wasn’t enough in the many offerings to satisfy the crypto gods a second time, on a count of it being too early to stray too far off the path of what works.
It had to be something so close to the original that you could barely tell the difference. Imagine Rhino Coin trying to pull this off? Calling this new experiment Shiba Inu on Ethereum gave everyone the impression that it “came in peace.”
Imagine our surprise when everyone started feeding it scraps off the table, and now it wants to sleep in Dogecoin’s bed. Is it possible for these two hilariously ironic titans of blockchain infamy to share a yard? Or does SHIB need to be re-homed?
Three Innovative NFT Projects by Sam
With so many NFT collections imitating the big players or following almost identical templates, it’s refreshing to come across projects that are trying out new ideas or have real utility in mind.
It’s also an antidote to the idea of meta. If you’re not familiar with that term, meta basically means the overarching trend or narrative driving the NFT space. It’s useful to identify meta so you can anticipate what’s coming, but meta also results in huge numbers of repetitive copycat projects.
Could the upcoming meta possibly be to ignore the idea of meta altogether, and just develop your own concepts? That might be productive, so on that note, here are three projects that stand out for their originality or because they are centered on specific use cases.<h3 id="probably-a-label“>Probably a Label
Image credits: Probably a Label
In January this year, famous restaurant owner and entrepreneur Jeremy Fall launched a web3 media enterprise called Probably Nothing. Fall has already found ways to mix up food, media and music, and is signed to Jay Z’s Roc Nation entertainment agency.
Now, in collaboration with music industry giant Warner Records, Probably Nothing is launching its own web3-oriented record label, named Probably a Label. (By the way, that phrase web3 is basically a mainstream-friendly way of saying crypto/NFT/blockchain).
Distinguishing Probably a Label from traditional record labels is its approach to IP and collaboration. What’s known so far is that Probably a Label will release an NFT pass that allows access to Studio A and Studio B.
Studio A is a development incubator that provides resources to help build out new projects, and it will accept submissions utilizing NFTs from several existing projects (currently, that includes Bored Ape Yacht Club, CryptoPunks, Doodles, Women and Weapons, Stickmen Toys, Photosynthesis, Pudgy Penguins and Degen Toonz), allowing holders of those projects to make use of their NFT IP.
Studio B is “a community-driven music library”, allowing pass holders to submit and share tracks. The idea seems to be that within the Probably a Label community, a pool of musical resources will be developed that can be sampled from and used freely across creative projects, while also providing exposure for new artists.
Probably a Label is still developmental and its plans come across as conceptual and open-ended, but that’s in the experimental nature of everything web3. With novel approaches to rights ownership, community and cultural cross-pollination, along with the connections that help to establish a substantial brand, Probably a Label is one to watch.<h3 id="tykes“>Tykes
Image credits: Tykes
If you’re interested in how blockchain technology might impact the real estate industry–along with the potential benefits of becoming an early participant in such changes–then take a look at the Tykes project.
It’s the work of real estate investor Ryan Pineda, who is actively pushing forward in finding ways to shift property trading into the blockchain era, utilizing NFTs–which are efficient tools for independently tracking and trading ownership–as part of the process.
Pineda has spoken at length about the Tykes project in many videos and interviews, and the sense is that he wants to completely revolutionize real estate trading to increase market liquidity and accessibility (rebalancing power away from big institutions and into the hands of individual investors), link up crypto capital with real estate, and create a platform where a like-minded community can interact.
The project also takes an interest in metaverse land, and–helping to generate initial hype, NFT holders receive real-life perks including access to a proposed network of luxury properties (one of which, in Las Vegas, already looks ready to go).
Tykes sold out all 5,000 of its NFTs when it minted at the end of August, and grabs attention because it is focused on definable utility within a profitable real world niche, and is led by an upfront founder with a proven track record.<h3 id="dented-feels“>Dented Feels
Image credits: Dented Feels
One issue around NFT collections is how to maintain interest and keep things moving creatively. Many projects release companion collections, with Bored Ape Yacht Club setting the template when it dropped Bored Ape Kennel Club, and the serums to create mutant apes.
This path certainly worked well for BAYC, but for smaller projects there is the risk of simply diluting supply, and it requires a reasonably high level of ongoing demand to be effective.
A collection called Dented Feels is experimenting with other approaches, and has recently revamped its website and introduced a shop section that will dispense customizable trait packs.
These packs are called Mood Swings, and can be bought using Feels Points, which are earned by holding an original NFT from the Dented Feels collection and syncing it in the Feels Shop. There will be a total of 6000 Mood Swings trait packs, of which 1000 have been released so far.
The original Dented Feels collection, which dropped back in February, contains 11,111 NFTs that revolve around emotional themes. Although it’s sometimes flown under the radar, the project is viewed positively in the NFT space, and its creator, Dentin Garret, has a loyal following.
Customizable traits and expansion packs introduce the possibility of NFT personalization, and allow ongoing creativity without dilution. At the very least, it’s something new, and if it works for Dented Feels then expect more projects to pursue similar ideas.
Thank you so much for your support, and I truly hope that today’s issue will give you insights needed to help you master your wealth.
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Lark and the Wealth Mastery Team
TCL Publishing ltd (director Lark Davis, owner of Wealth Mastery) is not providing you individually tailored investment advice. Nor is TCL Publishing registered to provide investment advice, is not a financial adviser, and is not a broker-dealer. The material provided is for educational purposes only. TCL Publishing is not responsible for any gains or losses that result from your cryptocurrency investments. Investing in cryptocurrency involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment. Investors should consult their financial adviser before investing in cryptocurrency.