EddieJayonCrypto
8 Sep 22
• FTX and GameStop partner to develop new ecommerce and retail opportunities• NBA dives even deeper into Web3 with Sorare partnership to develop the first NBA digital fantasy league• Saudi Arabia central bank looks to spur adoption of crypto with new hire• South Korea is establishing a separate mark...
• FTX and GameStop partner to develop new ecommerce and retail opportunities• NBA dives even deeper into Web3 with Sorare partnership to develop the first NBA digital fantasy league• Saudi Arabia central bank looks to spur adoption of crypto with new hire• South Korea is establishing a separate marketing for security tokens• Switzerland's SEBA Bank launched Ethereum staking due to big demand• Michael Burry says the worst has yet to be realized and BlackRock says equities have not priced in the coming recessionSlight rebound yesterday and some pretty interesting news. Here is what is on my mind today.1. Seemingly out of the blue FTX and GameStop team up. I know right! Like what?! I am at a dinner meeting when my friend, Nick, shoots me a text about the announcement. The companies are going to collaborate on ecommerce and marketing opportunities. I think this is a great move for both. It doesn't take much to see how the FTX tie-up could help to promote GameStop's NFT marketplace. On the flip side, you can also see how GameStop can introduce FTX to a whole new set of possible investors through FTX gift cards. A smart long-term play. 2. The NBA is getting deeper into the Web3 space by partnering with Sorare. The partners will work on developing a fantasy basketball game. In case you did not know, this adds to their already popular NFT marketplace with FLOW, NBA Top Shots. The NBA is making moves and I suspect other major sports leagues will be soon to follow. You know the NFL is already looking. 3. Saudi Arabia is making big moves to spur growth and adoption in the digital asset space with a new hire. As the world starts to move quickly toward renewable energy they are making plans to become a major player in the Cryptoverse. Smart move by their central bank. Traditional Finance around the world is really getting on board with the coming reality. 4. South Korea is establishing a separate marketing for security tokens. Security tokens are the digital forms of traditional securities. So, when you hear about firms tokenizing assets, this is what they are talking about. Back in June I told you about how JPMorgan Chase's Onyx Digital Assets is looking to tokenize trillions of dollars in digital assets. This move says South Korea may be far and away ahead of other countries in this space. 5. In another big move is Switzerland's SEBA Bank launched Ethereum staking due to big demand. They say big, but for a Swiss bank to make that type of move, demand must be huge. Mind you, they are doing this ahead of the merge. This says a lot about what they think the future may hold. 6. Michael Burry, you should know him from The Big Short fame (Christian Bale played his character - very well I might add), says the low has not been reached yet and I tend to believe him. Why? Because there are sign starting to pop up that things around the world are going to get worse before they get better. For example, BlackRock is saying the coming recession is not priced into equities yet. That is very big. This is causing me to make moves to grab some money out of the market after what I think will be pops after the Ethereum merge and Cardano's Vasil fork, move into stablecoins and buy back in when the market plunges or at least when the fall slows down. It is almost impossible to catch falling daggers. Let the dust settle.