Farewell 2021! Another crazy year full of surprises. And for those of us who thought that in 2021 things would go back to normal after the craziness of 2020, we were reminded that this is still a time of uncertainty.
The crypto markets were down this week, with many speculating that year end sell off for tax reasons was a big driver.
Turkey proposes new crypto law to help struggling currency bounce back.
More celebs getting into NFTs (Ozzy).
Phishing scam costs NFT collector $2.2M.
Paris Hilton parties in the Metaverse on NYE.
In this issue:
1 - Year end sell off for tax reasons
2 - Turkey introduces new crypto legislation
3 - Ozzy Osbourne announces NFT collection
4 - NFT phishing scam costs collector over $2M in losses
5 - Can Daniele Sesta save SushiSwap?
6 - New Years Eve Parties in the Metaverse
1 - Year end sell off for tax reasons drive lower BTC prices this week. Analysts say that if BTC can get back above $52K it will be a good sign that positive trend will push crypto back towards bull market.
2 - The Turkish Lira has been in trouble this year, with massive inflation and a devalued currency. As a response, new legislation proposed to help stop the bleeding.
Earlier in 2021, the government and central banks were very anti-crypto, so it appears that this new law is a concession.
I have hard a hard time finding any details about what this law specific proposes.
3 - Ozzy gets on the NFT bandwagon with new NFT collection called cryptobatz. This move points to the potential for fans of artists to collect a new type of memorabilia. I would focus LESS on the art itself, and more on the idea of a new version of the fan club. Buying an NFT is membership in the club, and that membership can be sold at a later date for a higher price.
4 - Phishing scam costs collector $2.2M in high value NFTs, including a Bored Apes Yacht Club, Clonex.
One of the challenges with decentralized crypto is that it’s difficult to recover stolen items. However, many NFTs are bought / sold on Opensea, which is a centralized exchange.
Not all Web 3 projects are decentralized, and this situation proves that centralized entities do have their benefits to the end user.
5 - Avalanche developer Daniele Sesta proposes new plan for crypto exchange SushiSwap. Online crypto exchange SushiSwap has struggled with scandals and staffing issues, however, industry veterans are stepping in to fix the issues, and restore SushiSwap to glory.
6 - Have New Years Eve parties moved from Times Square on TV to the Metaverse? Real Estate Firm Jamestown, owner 1 Times Square on Decentraland, is hosting a NYE party. Paris Hilton is also hosting a NYE party on Robolox (she is involved in several NFT / Web 3 projects)
See you in 2022!
Molly