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Welcome to another edition of the Weekend Degen Report.
What to expect: 988 words a 5-minute read.
TLDR: Launched a new series, some banks are more secure than others, FxHash is opening up its door even more, C4rdinal goes loco, Cozomo Medici wants us to get physical.
You can support me on Patreon or subscribe to premium below. I also encourage you to check out my archives and podcast for more interviews and writing.
GM GM. I launched a new series for subscribers. With so much information flying, I decided to start summarizing spaces, podcast episodes or anything I am listening to that is tied to web3 and give all of you a summary in case you are too busy. As always I highly suggest you listen to the original content to support said person, but at least for now this will help you determine where to spend your time.
The first of this series is summarizing Ep. 03 of MoneyNeverSleeps show with Ack and Patrick (link below). As a note, premium readers will get access first for a week and then it will unlock for everyone else. I have Ep. 04 ready for later this week. I will also be covering Goose and Dave’s Spaces as well. I hope you all enjoy this type of content. Let me know below what you think.
The federal reserve recently announced its findings on the largest banks in the USA and how they would fare in a hypothetical doomsday scenario. The table of the results can be found below. Anything higher than a 10 is a good grade (think of getting an A). The table below is showing if banks lost over 500billion dollars how many still have over 10% of their total money readily accessible to pay out its depositors. Why this matters? It is supposed to reassure us that our money and financial systems are strong even in the face of a catastrophic event (think worse than pandemic crash). But one thing to note, is regional banks aren’t here, the focus is solely on big banks. So banks like First Republic and Silicon Valley Bank would have not been on this table, which is an issue. It also seemed to me the media took the average of all the banks (on average they all got passing grades) but as many of you know, passing grades and averages have a wide range. A D student is very far from an A student. And the gap between Schwab and Citi is a big drop imo. Link to data if you want to read more.
One of my favorite gen art artist (Gorilla Su) dropped a piece on Alba.Art this past week. I have attached a sample below. It has not minted out so if you want to scoop one up.
The casino aka FxHash has announced that they will be supporting eth mints as well and it will be more open than Art Blocks. I am very bullish on this news as I think it will open up the flood gates on gen art even more. I like Art Blocks but something about FxHash gives me a vibe that it is for the people and it is just waiting to take off.
DeGods announced their new roadmap and came out with a little nifty website that looks like old school facebook that will keep the community connected. These kinds of moves make it so the community feels more cohesive and removes the power from 3rd party sites like Twitter and Discord which we will jump into why that is important soon. You can check out a breakdown of the site here.
Lastly, as many of you know, Twitter recently introduced rate limits into their app so most of us are getting rugged (unless you pay for premium) and can’t really use the app and stay up to date. Elon is saying it is so we all stop being addicted to the app but with Twitter losing a ton of money and allegedly stopped paying Google Cloud for their services, I think it is more the latter than worrying about our mental health. If you have no idea wtf rate limits are and how they work, this thread does a great job of explaining it.
We had an ACK Piano sell this week for 27eth.
Absolutely Wrong, had a short window drop on Nifty that somehow I won and happy to have added to my collection. It is a gorgeous piece that reminds alot of his SuperRare pieces from recently.
C4rdinal had a crazy half day earlier this week when he dropped 7 new 1/1s and all of them sold out less than 9 hours. And in a market where everyone is holding to their money tightly it is nice to see C4rdinal still dropping pieces and giving an opportunity for new collectors to join the fold. You can view the whole collection here.
Looking forward to seeing more of the physical drops from Avant Arte and the recently announced artist from Luis Ponce, ACK, Jake Fried, William Mappan, Ripcache, and more. Especially after seeing Jake Fried’s piece below.
If they ever wanted to catch bots, this would be the best way, cuz only bots would know the difference between Azukis and Elementals.
Happy 4th of July to all the Americans!
CIAHOAD-Rick James
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