Disclaimer: The following publication will review current market sentiment and activity using data from various analytical sources. Points made within this article are my thoughts and opinions and are in no way financial advice.
Today’s Topics
– Nike Launches Web3 Experience on Polygon
– Banks & New York Fed Start 12-week Digital Dollar Pilot
– Elon Fires Employee on Twitter
Nike Launches Web3 Experience on Polygon
Polygon has dominated the game over the last few months, as it has secured partnerships with companies like Starbucks and Reddit and has even been used for trading by institutions such as JP Morgan. However, it doesn’t stop there, as Polygon has announced they are Nike’s blockchain of choice for building their newest web3 experience. SWOOSH.
On the .SWOOSH platform, participants can buy, trade, and showcase physical and virtual products, access exclusive events and products, and even co-create products. If you think you got what it takes, there will be community competitions where you can earn royalties for the virtual products you create!
“.SWOOSH is the home for all of Nike’s virtual creations. Nike virtual creations are typically interactive digital objects (think virtual shoes or jerseys) that can be worn as wearables in video games or other immersive experiences (we’ll be announcing which ones soon).” Nike
The platform is currently unavailable to the public and is in beta until launch on Friday, November 18th. Beta access is closed at the time of writing, so there is little to do for the general public until it goes live later this week. However, you can still check out their website’s homepage and blog, where they explain their vision for the platform in depth. There are currently two blog posts at the time of writing, with the most recent one being posted earlier today.
Banks & New York Fed Start 12-week Digital Dollar Pilot
The conversation of a Digital Dollar has been a hot topic amongst politicians, regulators, and crypto enthusiasts over the last few months. For example, US Secretary of Treasury Janet Yellen has clarified that she favors the idea due to the holes it could fill in the current monetary system. However, there are those like the Governor of the Federal Reserve, Christopher J. Waller, who are more skeptical and believe that the implication of something like a digital dollar is minimal and not worth the trouble of developing at the moment.
As the US continues to contemplate whether or not a CBDC/Digital Dollar is worth the trouble, other countries/governments worldwide have already launched their digital currency or are currently in the piloting stage. The following are a few examples according to Atlantic Council:
- Russia
- China
- Sweden
- Saudi Arabia
- Thailand
- Etc.
With this in mind, especially with the current state of the minority system in the US, it seems steps towards a Digital Dollar are being made slowly but surely, as Citigroup, HSBC Holdings, Mastercard, WellsFargo, and the New York Fed have started a start 12-week digital dollar pilot, says Reuters
At the moment, all we know about the pilot is who will be involved and that the test will be conducted in a test environment with simulated data, as explained by the New York Fed. As more information makes itself known, I’ll keep you posted!
Elon Fires Employee on Twitter
For context, over the weekend, there was some spicy Twitter beef going on between newly appointed Twitter owner Elon Musk and, at the time, 6-year Twitter employee Eric Frohnhoefer,
It all started when Elon Musk released the following tweet apologizing for Twitter’s performance due to “poorly batched RPCs.”
This led to Eric Frohnhoefer publicly correcting his newly appointed boss through the following tweet. As you can see, this tweet caught fire and even caught the attention of Elon Musk himself.
Eric came with the heat, as he supported his argument with fairly constructive points and even gave a potential direction for fixing the problem, as shown in the following string of tweets. In the end, this only added fuel to the flame, as a day or so later, Elon publicly stated in a Twitter comment that Eric had been fired. The following is the tweet snapshot, as the original tweet has since been deleted. R.I.P.
