December 7, 2023

Revolutionizing Play: Web3's Exploding Kittens, Coinbase's Leap, & Liquid Loans' Drama

Revolutionizing Play: Web3's Exploding Kittens, Coinbase's Leap, & Liquid Loans' Drama

A Decent Publication

Presented by CryptoLink.Tech &

Volume 1 | Edition 25 | December 7, 2023

Opening Thoughts

Good morning and happy Thursday, Chain Reaction readers!

Let’s kick off December with a crisp discussion about the realities of start-ups, primarily in the tech sector.

In the tech world, the narrative of building a start-up often gets glossed over with tales of overnight successes. But as we peel back the layers, the truth reveals a decade-long struggle, much like the journey Jeff Bezos has described in the past. (Though the general statement has been attributed to multiple individuals)

This week, we're confronting this hard reality, particularly as it exists in the world of crypto and blockchain.

The crypto space initially drew people in with promises of quick riches - a misleading picture of immediate returns on tokens and NFTs, most of which didn’t do anything useful.

As we move forward, it's essential to realize that the blockchain and crypto world will start to resemble the conventional business landscape. While there will always be stories of 100x meme coins grabbing headlines, the true essence of progress lies in embracing traditional business structures within the blockchain space. This integration is what will ultimately ground and stabilize the web3 world.

Some companies in the web3 space are already ahead of the curve, quietly blending battle-tested business structures with the technology of blockchain. This shift might lack the sensationalism of the latest s*** coin that did a 100x, but it shows the promise of a more legitimate future for the industry.

To sum it up, the journey of tech start-ups, especially in the volatile world of blockchain and crypto, is gradually aligning with the broader, more established business world — and it may just save the space.

Enough of me on a soapbox, let’s jump into some news for the week!

World Of Web3

Navigating the immense amount of nonsense in this space, bringing you only the good stuff.

Banking Behemoth vs. Bitcoin: Jamie Dimon's Crypto Conundrum

Unsurprisingly JPMorgan Chase CEO Jamie Dimon, during a Senate Banking Committee hearing, declared his stark opposition to cryptocurrencies.

His words? "If I was the government, I’d close it down."

This sentiment isn't new for Dimon; he's been a vocal critic of digital currencies since day one, previously branding them as "decentralized Ponzi schemes" and even calling Bitcoin a "fraud"​​​​.

It's almost comical, isn't it?

The head honcho of one of the world's most powerful banks feeling threatened by the rise of decentralized finance. In a world where traditional financial titans like Dimon have long held the crown, the emergence of crypto—a realm outside their control—must be a legitimate concern.

Here we have a classic case of a power broker, used to playing the game with a deck they've always stacked, suddenly facing an entirely new game where the rules aren’t written by them.

A Predictable Pause: SEC Delays Decision on Grayscale Ethereum ETF

The U.S. Securities and Exchange Commission (SEC) has hit the pause button on Grayscale's application for a spot ETH ETF. In a typical bureaucratic move, the SEC extended its review period, now eyeing January 25, 2024, as the new deadline to approve, disapprove, or further delay a decision on the proposed rule change.

This decision follows an appellate court's order in October to revisit Grayscale's Bitcoin ETF offering, highlighting the SEC's cautious approach towards cryptocurrency ETFs​​.

There's no real surprise here. Bloomberg ETF analyst James Seyffart anticipated this delay, noting it aligns with the SEC's historical stance on crypto ETFs. To date, the SEC hasn't greenlit any spot BTC or ETH ETFs for U.S. listing. The delay puts Grayscale in a holding pattern along with other firms like BlackRock, Hashdex, and Fidelity, all awaiting the SEC's verdict on their spot crypto ETF applications​​​​​​.

More on this HERE on Cointelegraph

Liquid Loans: A Whiff of Controversy Amidst PulseChain Ambitions

The launch of Liquid Loans on PulseChain has raised eyebrows across the crypto community. Despite an impressive $51 million raise, the platform's actual liquidity upon launch was only $31,000 for its LOAN token—a contrast that has PulseChain users and Liquid Loans investors questioning the project's legitimacy.

This discrepancy has fueled plenty of speculation, with voices of reason pointing to the low initial liquidity as a potential red flag, suggesting that it could reflect poor intentions or bad management.

Adding to the wariness are comments from the community attempting to frame the low liquidity as a strategic move to "shake out the weak hands," a sentiment that falls on deaf ears to critics who see it as a symptom of the moon-boy problem plaguing blockchain's public image.

At the backdrop of this is PulseChain's native coin, PLS, which has plummeted by 86% since its launch, and Richard Heart, the project's flamboyant founder, whose recent documentary and public antics have done little to calm any concerns.

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Get your mind out of the gutter — It’s the intersection of innovation and imagination.

The WunderRealm's Creative Leap into NFTs and Gaming

The WunderRealm has emerged as a beacon of creativity within the NFT and gaming space, particularly with the launch of their Wunder Passport.

Created by @TheRyHead (handle on X) and his family, including his brother Steve, the WunderRealm is not just another digital venture; it's a family affair that grew out of a love for storytelling and gaming​​​​.

The recently sold-out Wunder Passport offered holders lifetime free mints of any collection dropped in the WunderRealm, starting with Pec00s and Puking Wizards. This innovative passport system invites users to immerse themselves in a realm where art, stories, and real-life card and tabletop games converge, promising a unique blend of digital and physical entertainment experiences.

At the heart of the WunderRealm's physical offerings is "Puking Wizards," a tower defense card game that successfully funded its Kickstarter campaign about five years ago​​.

Created with families in mind, the game's quirky and engaging nature reflects the family’s imaginative spirit. The Puking Wizards and the Pec00s are more than just games; they are stories that have been brought to life for Ryhead’s children, nieces, and nephews, and now, the broader community.

Bringing these captivating worlds to the blockchain as NFTs, the WunderRealm is setting a new standard for what it means to combine the tangible joy of family game nights with the cutting-edge realm of digital collectibles​.

Full disclosure: I minted a Passport because I am incredibly bullish on these guys. They created a real game that you can order online right now, before they minted a single NFT.

Always do your own research before getting involved with anything financially, but I recommend looking at what Wunder Realm has going on.

Link to the current version of the card game:

Gauss Gazette

Your favorite brand will build on Gauss one day.

Gauss Town Hall: Navigating Through Turbulence with Transparency and Innovation

In a recent town hall, Gauss CEO Gary Paull Jr addressed the community with a level of transparency that should be the standard for everyone in this space. For the first time in the company's history, Gauss faced liquidity challenges and some community discomfort, a significant hurdle that Gary did not shy away from discussing.

To combat this, he detailed the Liquidity Bootstrap Program, which aims to incentivize liquidity providers with doubled rewards, jumping from 0.45% to 0.9%.

Gary also introduced an "Impermanent Loss Guarantee," a novel concept designed to mitigate the risk for providers by setting aside a pool of Gauss's native coin, GANG, to compensate for any potential impermanent losses incurred during the program's timeframe.

In the town hall, which included a Q&A with community members, Gary openly acknowledged Gauss's past shortcomings, engaging in a real-time analysis of what could have been done differently up to this point.

The town hall ended on a high note, with the community expressing bullish sentiments towards the Gauss team's professionalism and their transparent approach to navigating startup challenges—a refreshing switch up from the inexperienced teams hidden behind NFT profile pictures that the space is used to.

The recording of the space is available for those who want to hear the discussion firsthand.

Tech Trends

For that cousin at holiday dinners.

Tech Trends: Coinbase's Innovative Step Forward with Messaging Crypto Transfers

Coinbase Wallet has introduced a groundbreaking feature that enables users to transfer cryptocurrencies through social media and messaging platforms. This new technology stands as a pivotal development for the crypto industry, enhancing user experience by simplifying transactions to a level comparable to sending a regular message.

The mobile optimization of crypto services is crucial in an era where smartphones are central to our digital lives. Coinbase's integration caters to this need, providing a more intuitive way for users to engage with cryptocurrencies and dApps.

This move by Coinbase could potentially inspire a trend among blockchain infrastructure companies to focus on user-friendly services. The ultimate goal would be for users to effortlessly launch dApps directly from mainstream app stores and connect to wallets without outdated methods, such as using a mobile browser as an intermediary.

In conclusion, while there's still a way to go for seamless usability and interoperability in the crypto world, Coinbase's update is a commendable step towards that future. It's a move that warrants appreciation, setting a standard for accessibility in blockchain technology that other companies would do well to emulate.

CryptoLink Connect

These guys make “cross-chain” as easy as opening Chain Reaction.

New Chains, New Services

I still can’t share too much about the developments on the CryptoLink end, but I promise we are close to some announcements!

The CryptoLink development team is currently finishing up an addition to our technology that allows our B2B services to be utilized on a swath of new blockchains without the requirement for initial liquidity.

Along with new chains, CryptoLink will have a few new offerings to teams looking to develop cross-chain products or services but lacking the development team to do so.

More on this next week 🙂 

Final Byte: Wally’s Wisdom

Hey everyone, that's a wrap for this week! Big thanks for diving into the deep end of the blockchain pool with us. From Coinbase making crypto as easy as sending a DM, to the WunderRealm turning family game night into NFT gold, we've had quite the ride.

And hey, speaking of cool tech, I've been messing around with Runway AI lately – talk about a mind-blowing tool. It's like we're living in the future, and I'm here for it. The world of AI is getting crazier by the day, and I can't wait to see what's next.

Catch you all next week for more tech talk and all the awesome stuff we find along the way. Keep exploring, stay curious, and keep nerding out over this wild and digital universe. See you soon!


Marketing/Branding — CryptoLink.Tech
Co-Founder — Decent Media

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