Sup, nerds!

Here’s what you’re getting in today’s edition:

• 💅 This is cool: @Forbes, you sure you wanna do that?
• 🔎 This seems important: 'DoorDash, but for Bitcoin NFTs'
• 🤝 Partner: 🎉 CryptoPunks back in the spotlight
• 🔪 Let's dissect this: What the hell are Whale Games?

Terms used in this edition (click for an explanation, or ask Web(GPT)3!):
​Blockchain, NFTs, Ordinals, Wallet, Gas Fees.

💅 This is cool:

​Forbes Immortalizes Its ‘Under 30’ List on the Blockchain (@Forbes, You Sure You Wanna Do That?)​

In one sentence: Forbes wants to immortalize it's Under 30 list on the Ethereum blockchain (frauds n' all?).

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What do the following people have in common?

• Charlie Javice
• Elizabeth Holmes
• Sam Bankman-Fried

They're all colossal frauds that were featured on the Forbes '30 Under 30' list.

...and now...for whatever reason...going forward:

Forbes wants to immortalize it's Under 30 list on the Ethereum blockchain.

Ok, ok - we're being facetious.

Obviously it's a great thing when blockchain technology is adopted by legacy companies.

That part we love - that's the bit that gets this article filed under '💅 This is cool'.

Outside of that...

Does the Under 30 list need to be saved forever on the Ethereum blockchain?

No.

Then again, nor do 99% of NFTs - and we've happily embraced them.

...so, "those in glass houses" n' all that...

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🔎 This seems important:

​'DoorDash, but for Bitcoin NFTs.' Confused? Lettuce explain...​

In one sentence: Bioniq is building a wallet that lowers network congestion on Bitcoin, the same way ordering ahead via DoorDash shrinks lines in-store.

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It's Sunday morning.

You're hankering for a sandwich from Edith's.

To save yourself the pain of a 30 minute wait in line, you order ahead through DoorDash.

(We've all done it).

This is a simple process for you, but in the background, there's some complex stuff going on....

DoorDash takes your order total, sends it to a third party payment provider (probably Stripe), who then reaches out to your bank requesting the money.

Once that's complete, DoorDash sends the order to Edith's, where a weirdly enthusiastic dude named Larry starts making your sandwich.

We lay all of this out because, right now, the Bitcoin Network is operating like a sandwich shop in 2005 (pre-delivery apps).

And with the advent of Bitcoin Ordinals (aka Bitcoin NFTs), transaction volume on the network is skyrocketing and causing all sorts of congestion.

To solve this, the creators of the Bitcoin NFT marketplace 'Bioniq,' want to create a wallet that acts as the 'DoorDash of Bitcoin NFTs.'

Here's our understanding of how it works:

Instead of orders for Bitcoin NFTs on the Bioniq marketplace being processed through the Bitcoin network, all payments will go through a third party blockchain (called ICP) which is way faster and cheaper to transact on.

The NFT itself won't move.

Instead, the ledger of 'who owns what' will be updated/tracked on ICP, until the user chooses to move the NFT into a Bitcoin wallet.

This way, users can trade Bitcoin NFTs as frequently as they please, without getting hit with lofty fees, and without clogging the Bitcoin network.

Smart!

🤝 Partner:

​​​​🎉 CryptoPunks Back in the Spotlight​

CryptoPunks are ripping this year - up 70% to $115,000 from $68,000 less than 60 days ago.

Rare Punk sales are back in the mix too - five Punks have sold for between $700k-$1.4M each this year.

You can view these sales (and all top sales) on the CryptoPunks.eth marketplace.

They’re the leading, Punks-exclusive NFT trading platform.

Punks collectors, traders, and enthusiasts rely on CryptoPunks.eth to get the best trading experience possible:

• Aggregated listings across all marketplaces so you can find the best entry price on Punks, always
• Powerful charts and tools to give you an analytical edge on volumes, floor prices, and bid depth
• Mobile and desktop-friendly UI, so you can trade at home or on-the-go
• Flashbots Protect RPC integration to put bid-sniping bots out of business

BROWSE PUNKS FOR SALE

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🔪 Let's dissect this:

​What the Hell Are Whale Games?​

In one sentence: Whales are toying with BTC, pumping the price in hopes it will trigger a wider buying frenzy and push BTC to $40k (so they can take profits).

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Serious Question:

Did a 12-year-old come up with crypto terminology???

Who decided on ‘gas fees’ or ‘mooning.’

Better yet - here's a new one for you:

Whale Games.

Yup. Whale Games.

Here's what it means, and why it's currently in the news.

Whales are traders with a bunch of cash invested in one asset.

(To be fair, the name actually has some logic to it).

But, as of recently, the crypto trading world has been warned of ‘whale games’.

See, whales hold such a large portion of a cryptocurrency that if they decide to buy or sell enough at once they can create price movement.

Or another way of putting it: they own so much crypto, they can play games with the market.

And right now, it looks like they're toying with Bitcoin - pumping the price in hopes it will trigger a wide spread buying frenzy and push BTC to $40k.

(Hoooray!)

At which point, the whales will sell and dump the price.

(Boooooo!)

We take back what we said at the top, 'Whale Games' is a very fitting description.

Why Investors Should Watch Whales

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👇 Other stuff you may have missed

• 🏀 Crypto Sponsorships Are Back? University of Miami Strikes Deal With Helium Mobile​
• ✋ Binance Will Cease Support for Its BUSD Stablecoin on Dec. 15​
• 🚀 Solana's Mad Lads Top Bored Apes in Daily NFT Sales as Prices Surge​
• 🧐 Over 75% Of Web3 Games ‘Failed’ in Last Five Years: CoinGecko​
• 🕳️ Web3 Startup Wormhole Locks Up $225M At a $2.5B Valuation​

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Alright, that’s it for today!
Love to the family,

​Chevy, Seb & The Web3 Daily Team.

P.S. Want to learn how to research and value cryptocurrencies? We have a bi-weekly publication that does just that.

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