The Wolf Den #394 - Know Your Strengths
Publicly Traded Company Staked $50M ETH
Ether Capital, a publicly-traded company based out of Canada is being celebrated as the first publicly-traded company to contribute a meaningful balance to the ETH 2.0 deposit contract. The company announced a deposit of 10,240 ETH, totaling about $50M, and has plans to add to their contribution over time. According to the company, they have more than 40,000 Ethereum unstaked that they mostly intend to add to the deposit contract to support Ethereum 2.0.
I included 2 paragraphs below from their investment thesis on their site. Both the sentiment and assessment are spot on.
“Ethereum is a world computer that can fundamentally bring decentralization back to the internet. This is what’s referred to as Web3, where users own their data, privacy is maintained, rent-seeking middlemen have less power and money is internet-native.”
“Ethereum has established itself as the premiere Web 3 platform. It has the longest operating record, the biggest community of developers, and the largest number of decentralized applications. It has a clear roadmap for protocol improvements over the next few years that will improve the security, scalability, and sustainability of the platform while retaining its promise of decentralization.”
NFTs Will Be Used As Collateral
It was only a matter of time until the crypto world found a systematic way to take loans against NFTs. After all, the value of NFTs is locked until trusted lending platforms find ways to offer loans to collectors. Nexo, one of the major crypto platforms, has just announced a partnership with Three Arrows Capital to create their very own NFT lending desk to “accept top NFTs as collateral, including Bored Apes and CryptoPunks.” Not only does the partnership set a precedent, but it also adds a whole new layer of liquidity and value unlock in a fledgling market, creating even more opportunity.
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The views and opinions expressed here are solely my own and should in no way be interpreted as financial advice. Every investment and trading move involves risk. You should conduct your own research when making a decision. I am not a financial advisor. Nothing contained in this e-mail constitutes or shall be construed as an offering of financial instruments or as investment advice or recommendations of an investment strategy or whether or not to "Buy," "Sell," or "Hold" an investment.