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Todayβs edition is brought to you by LMNT β an electrolyte drink mix with everything you need & nothing you don't. No sugar. No artificial ingredients. No fillers. |
Receive a free LMNT sample pack with any order. |
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GM. This is Milk Road, your crypto cheat sheet - because who wants to read the textbook? |
Hereβs what we got for you today: |
The hottest new crypto app π² BlackRock and Fidelity hold ~$5.5B in Bitcoin πͺ |
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WTF IS FARCASTER? π§ |
Crypto investors are going through the 4 stages of FOMO right now⦠|
Stage 1: You hear a funky, new word. |
Stage 2: You shrug it off as βnerdy nonsenseβ. Stage 3: You hear the funky, new word again. But this time, nerds are getting rich from it and buying Lamboβs (straight cash). |
Stage 4: You scream and question all your life choices. |
Cryptoβs funky, new word isβ¦ Farcaster. |
Itβs been mentioned more than any other crypto token or project over the last 24 hours. |
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So, what is it? A new weather app? A new weight loss drug? |
Hereβs our βFarcaster-For-Dummiesβ guide: |
Itβs a protocol for decentralized social apps. It stores data like usernames, profile pictures, posts, reactions to posts, and friends/followers. Anyone can build an app that interacts with the data. For example, Warpcast is the top app (itβs a Twitter clone) but there are other apps like Farcord (a Discord clone) and Flink (a Reddit clone). They all use the same data but have different front ends and experiences. Users own their data and can take it across different apps. Imagine if youβre Twitter posts and followers carried over to Facebook, and vice versa. |
Right now, Farcaster is the hottest thing in crypto. |
Itβs seen a 200% week-over-week bump in users. Here are the 2 big reasons whyβ¦ |
1/ Farcaster βframesβ. |
A new feature called βframesβ just went live. |
It lets users turn posts with images, links, buttons, etc. β interactive apps. |
For example, someone created a full e-commerce experience for ordering Girl Scout Cookies using a Farcaster frame. It lets you⦠|
Shop for their favorite Girl Scout cookies (Samoas, of course) Place the order Pay for the order |
β¦ directly in the frame, without ever having to leave to an external site or another app. |
Hereβs a quick demo: |
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2/ People are making money from tokens on Farcaster. |
Farcaster doesnβt have a native token. |
But some of the apps/projects built on it do, and theyβve been airdropping free tokens to early users. |
Free money = motivation to try new stuff = more new users. |
So now for the million-dollar question⦠is Farcaster the next big thing in crypto? |
Hereβs what smart people are saying: |
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Milk Road Take: Crypto apps are hard. Social media apps are harder. |
Combine the two, and you have the next Mission Impossible. |
And weβve seen whatβs happened to other decentralized social media appsβ¦. |
Lens Protocol had a lot of hype last year, but then it died down. Friend.Tech had a lot of hype 6 months ago, but then it died down. |
With all that being said β whenever a new hype train comes through crypto, itβs always a good idea to try it out. |
Itβs like hearing a party next door, and youβre just sitting in your house playing Uno. Put the cards down and go check out the party. |
Thatβs why we spent the weekend setting up a Farcaster account and trying out our first app on it - Warpcast. |
Weβre gonna give it a 7-day trial report back on our takeaways/findings at the end of the week. |
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BITE-SIZED COOKIES FOR THE ROAD πͺ |
Universal Page, a gasless NFT 2.0 platform has launched on LUKSO. Build your custom web page, trade NFTs on the gasless marketplace, or drop your collections with the launchpad.* |
BlackRock and Fidelity hold $5.5B in BTC. Hereβs a list of people and companies that hold moreβ¦ π βDL News |
Ethereum Name Service (ENS) partnered up with GoDaddy. ENSβ native token surged ~10% on the news. |
Hawaii launched a new crypto licensing pilot making crypto legal in the state. According to state administrators, βdigital currency companies will no longer require a Hawaii-issued money transmitter license to conduct business within the state." |
Solana registered 12M new addresses in January. Thatβs a new monthly all-time high and an 18% increase from December. |
Genesis has asked a bankruptcy court to approve a $1.4B sale of GBTC shares. Watch out! More GBTC sell pressure could be on its way. |
βShrapnelβ is getting listed on the Epic Game Store. The blockchain-based, Call of Duty-style game will now be accessible to 200M+ gamers. |
*This is sponsored content |
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MILKY MEMES π€£ |
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WEβRE HIRING A NEWSLETTER WRITER π₯ |
We are hiring a part-time writer to help us amp up the calcium for all things Milk Road. |
We're looking for writers passionate about crypto and with plenty of experience in the space. |
If this sounds like you, what are you waiting for? Fill out the form here. |
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ROADER REVIEW OF THE DAY |
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VITALIK PIC OF THE DAY |
| Milk Road Images @MilkRoadImages | |
| | | | Feb 5, 2024 | | | | 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. |