Category: Canuck’s Corner

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Beyond the FUD

Posted on nrn

FTX isn’t crypto! This can’t be stated frequently or loudly enough! SBF and his band of shysters have been all over the news. The Crypto exchange and its native token FTT have many shell shocked investors wonder WTF happened.

FTX did not have its own blockchain. It didn’t create, it didn’t program. They were simply some math loving nerds making increasingly riskier bets using Other People’s Money (OPM).

In the early days the bets paid off and they made some money. Ok, a lot of money. However, their luck which they mistook for skill, soon ran out. Remember, when making bets, the house always wins! Those big Vegas Casinos weren’t build by gamblers being successful.

Unlike blockchains, coins and tokens, Crypto Exchanges are not products. They are marketplaces more akin to a bank or brokerage firm.

SBF was a cocky dick. He made brazen bets with OPM while many Investors didn’t know they weren’t actually investing in crypto.

What were the warning signs?

What can we learn from this? … Continue readingBeyond the FUD

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The Playable future of NFTs

Posted on nrn

Leveling up! A term that has become ubiquitous in our vernacular. Video games have long been an escape from reality for kids and adults alike. Within the games, players are on a seemingly endless quest to gain an edge. A jacket for an armour boost. A more powerful sword to vanquish the next-level boss. Even a new wide receiver to get a few more touchdowns in your Sunday game against the Bears.

Now, as we look at in-game items, I thought, who better to ask than our in-house Nerds? Co-hosts of NerdFT Radio, CryptoCrier, and RedSoxGuy aka RSG.

Many big game brands have focused their historical attention on console gaming. One of the big problems with this is the high costs associated with the setup. Additionally, they are not portable. We now have a new generation of players who grew up playing video games on mobile devices. Much of the developing world won’t have big-screen TVs and an Xbox at home, but they do have tablets and smartphones.

As the platform you access the game from becomes less (or not at all) important, the conversation shifts to where does the game live? Blockchain technology feels like the simplest and most obvious answer to this.
… Continue readingThe Playable future of NFTs

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NFTs Battle Royale

Posted on CryptoCanuck

I have the Power! One of the classic lines spoken by almost every child of the 80s and early 90s. Clutching the sword and speaking these words turned the modest Prince Adam into the specimen that was He-Man. By reaching into the psyche of their target market (school aged boys) Mattel’s sales took off faster than the Millennium Falcon. Sales went from $38M in 1983 when the line launched to $1B in 1984.

Mattel understood that kids didn’t want a toy they knew nothing about. They wanted to buy into an adventure. They wanted to travel to and be part of an imaginary world (Eternia). Mattel understood they needed to create an experience. NFT creators and investors are beginning to learn the same thing.

Web3 is now beginning to think about what “clutching the sword” looks like for the space. Hype from a mint is not enough to hold the value in a collection. Twitter timelines are littered with projects that peaked at 1,2 or 10 Eth only to fall back down to earth, available for 0.05 Eth in the value bin of Web3. They are lining the Boulevard of Broken dreams as would-be-investors flee the space battered by their emotional scars. As more and more projects mint out, then fizzle, the shine is quickly coming off the space.

I believe one of the biggest debates going on behind closed doors is which will be more popular: in-game-items or collectables. Which will be more influential? How do they create the emotional experience Mattel was able to capture with He-Man?

Today I dive into the world of collectables and make a case for why this will drive sales and collections. … Continue readingNFTs Battle Royale

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NFTs- A New Hope

Posted on CryptoCanuck

NFT PFP have gotten a bad rap of late. I have been one of their harshest critics on this page. Though much of my criticism has been nuanced, I have maintained a pretty strident tone. I am happy however to see a dramatic reduction in project launches. Perhaps just because the allure of easy fast money has left the space. I think this is now a fantastic opportunity for NFTs to grow up a little and launch the next phase in development.

When Jerome Powell stepped up the the podium in Jackson Hole two weeks ago, markets tanked. The Dow Jones alone lost $1.2T in market cap. That money didn’t vanish however, it simply converted into to USD (aka dry powder).

So what will attract new users, investors and ultimately liquidity to NFTs?

In this guy’s humble opinion, PASSION.

… Continue readingNFTs- A New Hope

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DFK Sails to Klaytn

Posted on nrn

Here today, gone tomorrow! When the Harmony network was exploited for $100M , DeFi Kingdoms (DFK) was the blameless victim of the hack. Making up as much as 90% of the traffic on the Harmony network, the popular game bore the brunt of the fallout.

In a recent release, DFK announced it was leaving the Harmony chain and heading to Klaytn.

So why go to a chain so few people have heard of? Klaytn is more centralized than many blockchains. We have different theories as to why Klay chose centralization. … Continue readingDFK Sails to Klaytn

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Anniversary reflections

Posted on nrn

One year in, we take a light hearted look at NRN on our first anniversary.

What a difference a year makes. The first anniversary is the paper anniversary. That is fitting since much of what has defined web3 is paper hands. Perhaps the most critical aspect of Web3 is community, which NRN has blossomed into.

Most days start with a GM, well, usually a series of GMs. These extend to most hours of the day, given our community’s wide variety of time zones. The NRN Discord has become a home base for our community, where most of us start and end our days.

We’ve had some great predictions and some colossal fuck ups. We have been transparent all the way through. … Continue readingAnniversary reflections

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Autumn Predictions

Posted on CryptoCanuck

Crystal balls, tea leaves and palm lines. Are these practices any more or less reliable than monetary policy? It often seems like Jerome Powell and his cronies at the Fed are just making it up as he goes, doesn’t it? The sad reality is monetary policy is reflectionary and often influenced more by election cycles than data. It examines events that have already occurred and then makes adjustments based on yesterday.

Crypto doesn’t exist in a vacuum. We often forget it isn’t an isolated market. Sometimes Eth is down because some old white man in Washington was grumpy and made a bad decision. As a crypto investor I find it important to separate overall market and economic conditions from web3 conditions. It is possible to be bullish on crypto as economic conditions are making crypto profits seem like a pipe dream.

So what does the economic data mean for crypto? … Continue readingAutumn Predictions

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Mass adoption

Posted on CryptoCanuck

Death, taxes and rug pulls. The three certainties of life in Web3. What if we moved to a world with no moon and no rug? Kinda takes the fun out of it eh. I know, we all want the dopamine hit that comes along with the wild roll of the dice. The crippling depression that follows the 95% drop in value is less desirable however.

Call em Normies, call em Boomers, call em what you will. People who go to work 9-5 Monday to Friday. Folks who go for beers Friday night and watch Football on Sunday. Maybe they have retired from the rat race and spend their winters in Florida and summers in Colorado. They don’t know what a wallet is nor do they care what your PFP is.

I prefer to think of them as liquidity. Sweet, sweet liquidity. It is the holy grail for Web3 to go from a fringe scam to a legitimate financial market. I mean we have seen a crypto market cap in excess of $2T, which is nothing to sneeze at. Web3 however is dwarfed by more traditional financial markets. Today the total Crypto market stands around $1T; whereas the Dow Jones is about $40T.


… Continue readingMass adoption

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Perilous Bridges: Crypto’s Achilles’ Heel

Posted on nrn

Hacked! Millions of Dollars lost! These types of headlines are often the only crypto related ones the mainstream media will publish.

Many people want crypto to fail. “I knew that fake internet money was a scam all along”. People are afraid of what they do not understand. Since crypto can be scary, many people would rather see it crash and burn. Seeing other folks get rich and not understanding how is not a comfortable experience for many people.

Catastrophic failure have occurred and millions of dollars stolen. Much in the same way cars require bridges to cross a river, liquidity requires a bridge to cross from one blockchain to another. Under these bridges are where the trolls lurk.

… Continue readingPerilous Bridges: Crypto’s Achilles’ Heel

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NFTs pt 2- Monkey see, Monkey do

Posted on CryptoCanuck

So, the NFT Bear market turned out to just be a pile of Bull-shit. We got wrecked by a lack of creativity combined and an influx of supply. Cheap copy pasta knockoffs with little to no thought put into them.

In part 1, we explored the raw data. The NFT market hasn’t actually turned South, simply over-saturated by the PFP genre. Perhaps having extinguished its 15 minutes of fame. Following in the footsteps of Tickle-Me-Elmo and the pet rock. Then again, an Ether Rock did sell for 289 Eth, so what do I know?

Perhaps we should begin by asking why has the NFT market been so focused on PFPs? Why do are most collections using a 10,000 piece mint? Since for many “investors” it was monkey pictures that started it all. Maybe a story about monkeys is a good place to begin. … Continue readingNFTs pt 2- Monkey see, Monkey do