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Super Bowl Says No To Crypto Ads

There's a new and cheaper way to own a Blue Chip NFT

AuthorAuthor

Gannon Breslin & Von Doom
February 09, 2023

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gm, we hope everyone is having a great week so far 😊

Here is the breakdown of today's newsletter:

🏈 No Crypto Ads this Super Bowl?💰 There's a new and cheaper way to own a Blue Chip NFT

  • A golden Bored Ape recently sold for $1.3 Million. (LT)

  • Otherside hinted at another expansion of lore with their tweet talking about the "Legends of Mara" a stand-alone 2D experience powered by Apecoin. (@OthersideMeta)

  • Here's a short list of some people and companies that have filed NFT/web3 trademarks recently: Sam's Club, Nationwide, Marshawn Lynch, Jameson, Kay/Jared/Zales.

  • $BLUR will airdrop on Valentine's Day February 14th. 

  • Soul's Anchor, a tattoo parlor in Guatemala is offering free Bitcoin-themed tattoos to promote the use of cryptocurrency in the region. (CT)

  • WAX Blockchain has big plans for 2023, hoping to create deeper ties with Ethereum and develop cloud-based services. (@WAX_io)

  • PROOF announced a plethora of incredibly talented artists for their upcoming Grails III collection. Check out the list in their thread. (@proof_xyz)

  • Are bitcoin NFTs the next bit thing? (DC)

  • Ryder Ripps case with Yuga Labs has been settled out of court. (NFTC)

  • Binance is helping assemble a consortium of crypto companies with a view to rebuilding trust in the industry and is taking on an active role in coming regulations. (CD)

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No Crypto Ads This Superbowl 🏈

This year's Super Bowl won't see a crypto ad among the many ads being aired for millions of dollars. The crypto revolution is continuing to spread, but for now, it seems crypto enthusiasts will have to settle for celebrating the big game without an ad that celebrates digital currency.

💡 Why no ads?

Well, we can't help but forget the massive collapse of FTX this last year and all of the fraud that ensued. Last year's Super Bowl featured many ads from the biggest exchanges such as Coinbase, Crypto.com, and of course FTX. Once the dust settled the major TV networks axed all potential deals with exchanges. 

💡 The DropAccording to Media Radar crypto companies spent over $54 million dollars on Super Bowl ads so there's no question this was a difficult decision. Hopefully by next year the dust will settle from the wake of FTX's collapse and 

Can't Afford A Blue Chip NFT? 💰

If you entered the market in the past 6 months, you have probably come to the realization that there are collections that are out of your reach. These are the collections that we refer to as Blue Chips. Bored Apes, CryptoPunks, and Azuki, to name a few. For the majority of us, acquiring these are a fallacy or for some, it’s a dream that we work towards every day. Now, there’s a way for you to get exposure to the top 10 NFT collections under one entity, by the means of JPEGz by Cryptex Finance.

JPEGz is an index token powered by Coinbase Cloud and Chainlink and based on Arbitrum One, a layer-2 scaled mainnet. The 10 NFT collections in this batch were derived using on-chain reserve liquidity data; pretty much: “how much money do they have in the bank”. This allows holders to get exposure to the combined market cap of all of these collections, thus lowering the barrier of entry.

  • Hedging… If you hold an NFT from one of the top 10 chosen, you can essentially mint JPEGz tokens and immediately sell them. Then when the market cap goes down, the tokens can be bought back and burned for profit, thus a hedge of their NFTs without having to sell their NFTs.

  • Vaulting… In the future, Cryptex Finance plans to offer users the ability to vault their NFTs in exchange for JPEGz.

💡The DropThis opens up a completely different market for NFTs, as a whole. If you didn’t have exposure to any blue chips, now you can get all 10 in one package. We are curious to see if this mechanism transcends into other collections/categories because this might even become the way that we create ICOs for collections by using a singular index token. It may open up a new meta. WAGMI. 

Sponsored Content: This newsletter was sponsored by BullsEye Trades.

Disclaimer: The Drop DOES NOT provide financial advice. All content is for informational purposes only. The Drop is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses. 

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