5 Minute Crypto - Blur beats all; Korea AD (After Do); Banger 🧵s; Reddit NFTs; Asia web3 gaming

Two Degens (resources, interviews, on all things crypto and some AI)

Gm gm — this is the 5 minute crypto daily update for Thursday four twenty, which is dogecoin day for those who still bag hold.
Today’s update is more packed than a Costco’s parking lot on Sunday afternoon: we’ve got NFT marketplaces, Korea’s comeback, Coinbase leaving the US, and too many great crypto twitter threads.
Let’s do this like Buddhists!
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As of this recording
Bitcoin has fallen 4% to $28,900
ETH has fallen 7% to $1950
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What’s going on in crypto land…
Let’s start with some NFT marketshare stats from The Drop, which is a great NFT newsletter
-Trading volume for last 7 days
-Blur #1 at 71% - remember they’re still incentivizing trading volume, so this won’t last
-Opensea 17%
-Gem 7%
-and then everyone else
Korea making a comeback?
https://www.coindesk.com/consensus-magazine/2023/04/13/dokwon-korea-terra/
A few quotes:
-Koreans don’t really think Koreans are capable of going global,” said Lloyd Lee, founder and CEO of Hyperithm. “There were two stars that actually broke that belief. One was BTS, the second was Do Kwon.”
Coinbase gets an operating license for Bermuda, could launch an offshore exchange there as early as next week, focused on perpetual swaps
https://www.coinbase.com/blog/an-update-to-coinbases-global-scale-to-go-broad-and-deep
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Crypto twitter…
Banger tweets from @backthebunny
-Out of game-theoretic necessity, warfare is more adaptive. Using militaries as a leading indicator, you can anticipate emergent business behaviors. War evolves more readily, motivated not by profit but by survival. So military management leads, albeit imperfectly.
-on the AI and crypto duality that I liken to homeostasis in the podcast:
I think these technologies are evolutionary extensions of human cognition. they should be viewed similar to competing forces in a biological entity
Great thread on Reddit and its NFT play from SammyETH
https://twitter.com/S4mmyEth/status/1646145069454352385
-Reddit has 1.7b monthly visitors, top 20 site in world
-it’s onboarded 8M people into NFTs through the Reddit Avatars - in comparison OpenSea has added 2.6M
-the latest drop, gen3 avatars, sold out in seconds and crashed the site
-highly recommend a read
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Recommended reads…
https://medium.com/@halp1120/decentralized-sov-pos-vs-pow-6dfdb6c02879
Investor and active tweeter Hal Press has a great article on why he believes ETH is a better store of value than BTC
Contrary to popular belief, PoS naturally promotes decentralization more than PoW. Larger PoW miners receive a clear benefit from economies of scale, which drives centralization. Scale is less relevant for PoS, as the cost of setting up a node is vastly lower than a PoW rig. Furthermore, there is no real benefit in having access to large-scale electricity providers, as the electricity required for PoS is 99%+ lower. Economies of scale are very important for PoW, but not for PoS.

https://decrypt.co/126147/asia-could-dominate-80-of-web3-gaming-report
Great stats on potential for web3 gaming in Asia
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That’s it for today! That was 6.5 minutes long. All the links are in the show notes. You can follow @twodegenspod on Twitter and subscribe for more!
Outro clip
2 takes from Balaji on Erik Torenberg’s Upstream podcast, one is about wokes versus tech, and the other on bitcoin maximalism