This is an article focused on the major crypto news that has developed since the new year. Crypto is painting an ever-stronger picture on the macro (long-term) time frame.
Intel Diving into Crypto
Intel, a major blue chip technology company has jumped into crypto. Intel is developing new circuit innovations that will heavily increase the efficiency of crypto mining. Intel is also developing new solid-state technology utilizing minimal amounts of silicon to have as small an impact as possible on current supply chains [1]. With this cypto mining initiative, Intel has partnered with Block (formerly square) to create a more centralized and open-sourced mining system.
Apple Pay/Paypal and Crypto
Apple, one of the largest blue chip technology companies of all time is also diving in headfirst. Apple recently announced they are launching a crypto payments platform for merchants. Tap to pay will be adding cryptocurrency functionality to the system, allowing Coinbase and Crypto.com cards to be used [2]. In the future direct cryptocurrency payments will be activated, this is just the first step. Paypal has already enabled this feature earlier last year, allowing for Bitcoin, Ethereum and Litecoin payments. Users can on ramp cash into Paypal, convert it into crypto, hold it long-term then pay for items with increased purchasing power.
KPMG Purchases Crypto
This is the news that I am the most excited about. A traditional accounting firm with over 200,000 employees has announced their purchase of Bitcoin and Ethereum. KPMG boasts over 35 years of success, having a solidified, non-technology-based company buy in cannot be understated. KPMG operates in over 155 counties and has had over 32 billion in revenue last year. KPMG aims to stay ahead of the curve by adopting blockchain technology and modern finance business practices [3]. KPMG’s office did the official audits for Microstrategy, which has the largest holding of Bitcoin of any public company today. KPMG also announced their official interest in the metaverse, NFTs, DeFi, and more.
Pay you to Play
In recent news, the founder of Reddit, Alexis Ohanian stated that most games pay users to play them within the next 5 years [4]. While this might seem counterintuitive hear me out. If you have read some of articles on play to earn crypto networks, you will know how lucrative they can be. Axie Infinity, Defi-kingdoms and Crabada are prime examples of this (hint). Some users have made over 50,000$ a month playing these games. Imagine an era where a game launches with an ecosystem and a token pegged to a use case. This token incentivizes the player to play, and the team who has an initial allocation is incentivized to continue to work on the game. Many games come out, provide a few hours of fun and then you forget about them. Play to earn brings users in with the extra financial incentive, all we need is a few fun games with a strong core gameplay loop. These games could easily continue to generate years of entertainment, NFT value, token value, and community interaction to users.
NFT Mania
NFTs are confusing to many, the average person believes if they copy paste the photo, that they also own the NFT. NFTs however are far more complicated than that, each NFT has a unique identity similar to a serial number. NFTs can provide proof of ownership, the owner of the crypto wallet owning the NFT. The most prime example of this today is likely Bored Ape Yacht Club. . For more information on NFTs, check out one of our first articles [here]. Here are a few famous companies/people that have jumped into the NFT space.
-Mcdonalds, Taco Bell,Coca-Cola
-Nike,Asics, Adidas, Puma
-Rayban, Gucci, & the NFL
-Snoop Dog(Just Dropped limited edition Albums via Gala Games), Paris Hilton, Steph Curry, Eminem, Reese Witherspoon
– you catch my drift….
Bullish Thesis
Combine all of this news and positive developments over the past few months. Banks and other large investors will scare the common investor from the crypto market. The long-term macro picture paints another story. Crypto is getting ready for a massive second leg, the longer the consolidation the bigger the explosion. We saw this with Amazon during the internet boom, and with Tesla during the pandemic crash. Those who have the conviction to dollar-cost-average into strong fundamental networks will come out on top later in the year. Market manipulation and lack of regulation add to the volatility and massive up and down swings we are seeing. Only by removing emotion, and developing a strategy, can the savvy investor prevail. For those who have done their own research and are still too nervous to get involved, we have a massive announcement coming in the next few weeks. Please remember none of this is financial advice, do your OWN research, and stay safe out there!
[2] https://cryptopotato.com/apples-new-feature-to-let-merchants-accept-payments-in-crypto/
[3] https://www.investopedia.com/kpmg-invests-in-bitcoin-and-ethereum-5218436
[4] https://www.independent.co.uk/life-style/gadgets-and-tech/reddit-games-play-to-earn-crypto-b1996132.html
