📈 Web3 TLDR: 💪 Game "Won't" Stop
The Web3, NFT and Crypto Newsletter
Here Are The Things You Need to Know:
Current Price: $19,195 - 7D Change: -4.85 - 30D Change: -20.67 - YTD Change: -140.11%
Current Price: $1,622 - 7D Change: 2.26% - 30D Change: -4.94% - YTD Change: -115.50%
Disclaimer: This newsletter is not financial advice. Always do your own research
This edition is sponsored by TechMango.
- 😲 Looks Like ETHW Is Happening After All...
- 💪 Game "Won't" Stop
- 🚫 Tali-bans crypto in Afghanistan
Job of the week
AND NOW THE NEWS
Looks Like ETHW Is A Thing After All...
What so many believed wouldn't work is actually gaining traction...and the PoW army are rejoicing...for now. ETHW, a non-difficulty bomb chain comparatively to the current Ethereum PoW chain, has been in the forked since August by the PoW community. However, many predicted this endeavor would be fruitless, as there are many issues with creating a forked version that people will ACTUALLY use. The biggest problem? How do you maintain every single dApp on both Ethereum and ETHW? This would require all dApp creators to manage two versions of their software, similar to software companies maintaining a version of their software for both Windows and Macs. It's not an impossible feat, would just be really hard to manage in the current infancy of Web3. Centralized exchanges, such as FTX and Binance, are already offering a 1:1 ETHW ratio drop for even ETH holder on their respective platforms by the drop date.
I mentioned in this post my thoughts on PoW miners and them wanting to create a fork. However, this is a perfect example of Web3 fundamentals going to work. The will of a community is rising up to the challenge of creating a useful fork, and there's nothing wrong with that. If they succeed, great! If they don't, then it's a lesson we all will learn from. Either way, Web3 freedom is a major precept and it's great seeing it in action!
Game "Won't" Stop
GameStop, the formerly-irrelevant store known for selling video game related items for MSRP or buying back items at a fraction of the original price, has been in somewhat of a renaissance. Stemming from the Reddit "short sell" defense that pumped GME with loads of money, they decided to get into the crypto game, namely NFT and Web3 gaming. Well now they have a new powerful partner, FTX. FTX is joining forces with GameStop, with the latter becoming the "preferred retail partner in the United States.” This partnership comes on the heels of their quarterly report, which saw a 4% decline in net sales to $1.14 billion.
I have to admit, I thought GameStop would fail with this Web3 endeavor when it was first announced. However, they are still flying (somewhat) high with investors still backing them and their Web3 roadmap. It will be interesting to see if they can become the #1 stop for all Web3 retail shoppers. If so, be prepared to buy some stock as well!
Tali-bans crypto in Afghanistan
According to the provincial news website ATN-News, the Taliban government recently banned cryptocurrencies and has arrested 16 local exchanges in the past week.
The report stated the exchanges were given a grace period to comply with the government’s regulations but sources say there was no real warning before they were shut down. The group has now asked locals to refrain from using digital assets and has warned them of the risks such as being arrested.
According to the report, the ban are due to the volatile nature of cryptocurrencies and assets like the U.S. dollar leaving the country since crypto exchanges are not based in Afghanistan. Another reason noted in the report is that digital currencies are new and “the people are not familiar with them.”
Another unstated reason is that the decentralized nature of cryptocurrencies means its a currency they cannot control, similar to how other more authoritarian countries have taken stricter regulation tactics to control.
Written by: WarBiscuitNFT
One Last Thing...
Kind of wish I was in this class in college...
“We’re different than other projects”
— Hawks (@NFTHawks)
Sep 7, 2022
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