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Todayโs edition is brought to you by Bakkt โ Looking for a sign to switch vendors? Look no further. Thereโs no gray area when it comes to custody. |
Learn how Bakktยฎ Custodyโs secure platform compromises nothing. |
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GM. This is Milk Road, where we serve the crypto news sunny side up, every time. |
Hereโs what we got for you today: |
The Simpsons dropped a new episode about crypto ๐ Crypto concept: Tesla cars and dynamic NFTs ๐ง Bakkt custody: compromise nothing ๐ Use case of the day: Boba tea and Solana ๐ Nikeโs RTFKT collections have done $1.4B in trading volume ๐ช |
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THE SIMPSONS DROPPED A NEW EPISODE ABOUT CRYPTO๐ |
Itโs Monday. The most hated day of the weekโฆ |
(If Mondays had a face, Iโd teach my dog to growl at it). |
So instead of jumping right into the action, letโs start with something light and funnyโฆThe Simpsons. |
The animated TV show just dropped a new episode, and itโs all about NFTs. |
It was hilarious. 10/10. |
If you wanna start the week with a good laugh, click the video below! |
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CRYPTO CONCEPT: TESLA CARS AND DYNAMIC NFTS ๐ง |
Check it out. One of the Roaders sent us a pretty cool concept. |
(Shoutout to Ian. Youโve earned yourself Milk Road Knighthood status and been nicknamed โIan the Insightfulโ). |
The concept includes Tesla cars and dNFTs. |
Now, some of you might be seeing that funny-looking word (โdNFTsโ) for the first time so allow me to briefly explainโฆ |
You see, NFTs are normally static. They donโt change. |
Take this Bored Ape NFT, for example. |
It has Cheetah fur, a โpimp coatโ, and is smoking a cigar. (Side note: Snoop Dogg also owns it. #Mr.BigPimpinโ). |
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Hereโs the thing: this Bored Ape NFT will never change. |
Itโs always gonna have the same coat, the same fur, the same cigar. Etc. |
Well, dNFTs = dynamic NFTs. Theyโre dynamic (duh) and they do change over time. |
There are a bunch of cool new ideas for how they can be used. |
For example, imagine if Tesla cars had a digital twin - a dNFT. It could get real-time updates for stuff like the cars: |
Service record Mileage Accident history Market value |
Hereโs a quick mock-up: |
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Think of it as a CarFax report - except itโs on a blockchain and the data can be verified by anyone, at any time - via a dynamic NFT. |
Pretty cool idea. |
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Everyone loves a good award. |
The Milk Man constantly boasts about winning the โBest Smileโ superlative in high school (it was a good year for the crypto markets). |
But jokes aside, awards bring credibility. And when someone wins a big award, you should probably pay attention. |
Well, thatโs why we partnered up with Bakkt. They build top-tier solutions for businesses looking to grow with the crypto economyโBakktยฎ Custody. |
Bakktยฎ Custody operates under Bakkt Trust Company LLC, an NYDFS Qualified Custodian, and is backed by multi-layer security and a seasoned team dedicated to continuous improvements. Importantly, they never lend or rehypothecate clientsโ assets. Whatโs yours is yours, no strings attached. |
Founded back in 2018, so you know Bakkt has you covered for the long haul. |
Compromise nothing with Bakkt! |
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USE CASE OF THE DAY: BOBA TEA AND SOLANA ๐ |
โHowโs the blockchain being used in the real world?โ |
This is a question most people fear. It kicks ass and takes names. |
And since holiday dinners are coming up, weโre gonna give you some real-world use cases for when your Uncle-Who-Hates-Crypto asks you about them. |
Todayโs use case: Boba Guys (a popular bubble tea brand) is using an on-chain loyalty program to boost customer engagement. |
For every dollar spent at Boba Guys, customers earn 5 points. Once you have enough points, you can buy a โMystery Boxโ. It has prizes like discounts, free drinks, gift cards, and a free vacation. There are also additional Quests that unlock secret menu items, exclusive merchandise, and more. Itโs built on the Solana blockchain and there are plans to integrate NFT and token-gated experiences. |
Hereโs what it looks like: |
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Now, I know what youโre thinking. This looks just like every other reward program app out there. |
So, whatโs the big difference? The cost. |
Boba Guys always wanted to launch a loyalty app, but it was way too expensive. The founders said they were quoted $1M just to build an iOS app. |
The Solana ecosystem provides cheap, cost-effective solutions. (Plus, the Solana Foundation invested $100K into Boba Guys, so that helps). |
Howโs the new app been performing? According to the foundersโฆ |
3 in 10 customers have signed up for it. 31% of all orders are coming from within the new app. Thereโs been a 65% increase in spending (people are incentivized to spend more so they can get more points and unlock more rewards). |
And because of the early success, Boba Guys plans to roll out the on-chain loyalty program to all 25 locations in the U.S. later this month. |
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BITE-SIZED COOKIES ๐ช |
Nikeโs RTFKT NFT collections have generated nearly $1.4B in trading volume. Itโs been 2 years since Nike acquired RTFKT and the sneaker giant has already made $170M in earnings. Wowza. |
Crypto funds saw ~$260M of inflows last week. Marking the sixth straight week of positive inflows. |
A fake Ledger Live app on Microsoftโs app store stole $588K of crypto from users. Remember to double-check any apps you download on your devices! (Milk Road Rule #2: Check yourself before you wreck yourself). |
Arbitrum DAO has approved a proposal to activate token staking. Token holders can now stake their ARB in exchange for a yield. |
Yuga Labs and Magic Eden are teaming up to launch a new NFT marketplace. And thereโs a twist: the NFT marketplace will enforce royalties on all secondary sales. |
Hong Kong is considering allowing retail access to invest in spot exchange-traded funds (ETFs) related to crypto. โFirst they ignore you. Then they laugh at you. Then they fight you. Then you win.โ |
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MILKY MEMES ๐คฃ |
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HIT THE INBOX OF 250K+ CRYPTO INVESTORS |
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What'd you think of today's edition? |
๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ F**king great๐ฅ๐ฅ๐ฅ Meh, do better๐ฅ You didn't bring the heat |
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ROADER REVIEW OF THE DAY |
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VITALIK PIC OF THE DAY |
| Milk Road Images @MilkRoadImages | |
| | | | Nov 6, 2023 | | | | 0 Likes 0 Retweets 0 Replies |
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. |