Inflation is rising all over the world. It hits more in US. It is important, because it has an impact to all web3 and crypto world.
News of the week is an interest rates growth. FED decided to raise it by 0.75% pp. It is less than expectation, that was 1% pp.
There were also few ridiculous comments, like the one that Jerome Powell, who is head of the FED, committed:
"I do not think the US is currently in a recession. There is just too many areas of the economy that are performing too well."
You could see GDP behave this year in US, month to month.
Recession definition - a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
Looking into this year’s US PKB and definition, there could be two options:
Jerome Powell departs from the truth,
There should be a new definition of recession created.
Such a statement is something characteristic also for other chiefs of central banks all over the world. They’re trying to make the best of a bad job.
How does it impact web3?
US is one of the bigger crypto markets. After this information, we see all green 😀
It is impressive. From the Wednesday bottom to now:
BTC - from $20 743.6 to $24 004.7 it is 15.7%
ETH - from $1 361.67 to $1 729.39 and this is 27% raise 😮
We hope, this is a good sign for crypto in the bear market.
Christie’s auction house sold an mRNA Covid Vaccine NFT for $226,800. It is a 3d model created by The University of Pennsylvania. Read more here.
There will be no ban for NFTs on Epic Games Store. Epic Games CEO Tim Sweeney said: "Developers should be free to decide how to build their games, and you are free to decide whether to play them. I believe stores and operating system makers shouldn’t interfere by forcing their views onto others. We definitely won’t." The statement is a response to blockchain and NFT ban on Minecraft. Read more here.
Interesting thread on twitter. 35 business ideas, how web3 couldimprove or disrupt succesfull
THE PHENOMENON OF GOBLINS
The bear market created one NFT phenomenon. It was strange from the beginning. I remember info on alpha channel, about free mint.
It was something strange this time. I go to the website of goblintown.wtf. It was ugly and had strange music with ugly voices in the background. In this ugliness was something cool.
Goblins are talking in a strange mix of English and ogres/goblin/orks language. They are mysterious and disgusting.
I decide, that I will mint NFT in this project. I connected my wallet, but all tokens were sold.
Ok, bad luck.
I even think to buy a token, when it was below 0.2 EHT, but after rethinking, I resign. There was no usability in this token.
I was surprised when it grew. In a few days, the average price reached 7.5 ETH.
It was pure speculation. There were a lot of collections, that copied goblins, but only this one was successful.
There is one answer - good team behind that. It was revealed, that behind goblintown is a truthlabs. They are creators of Illuminati and the 187 collections.
Marketing pump collection to a really high level. It was impressive.
There were more jokes after that:
McGoblin burgers - first tokens and then, real food trucks on NFT.NYC,