Adidas joins us to talk ALTS

Things are not looking too rosy, equities are down across both Nasdaq and the S&P with 10yr and 2yr treasuries seeing a decent rally in interest rates. Crypto is also not doing well, ETH has moved roughly 15% lower over the course of a week which is not great. $ARB is back to $1.30 and most other coins are not doing well.

OSF has a hunch that the FOMC next week could be a constructive event. The banking crisis wasn't quite as bad people feared and has moved out of the headlines. With data points like payrolls coming in positive, we could see some good rhetoric come from Powell at the FOMC meeting.

Mando imagines the banking crisis is still looming and things like commercial real estate will still reveal that they are a part of the banking contagion. The raise in rates is not ideal and it isn't clear as to what the Feds master plan is given this start to the year.

Most traditional assets had a decent entry into 2023, including crypto. @punk9059points out how loose the Fed kept things during COVID and now we are possibly seeing a reverse strategy with things constricting.

This was the lowest day of the year in terms of NFT volumes. Blur incentives have decreased and things are falling very flat. Realized daily losses are up above 1k ETH in the NFT space which is not great by any means. The end of the double $BLUR rewards is approaching which will certainly shift the landscape in some way or another.

Peak Bull the space was profiting something like 30k ETH daily, a hand over fist scenario. It hasn't been down only for floor prices but the big sales lately have been for a loss which we hate to see. After BLUR started in Q4 we actually saw a rally upwards, a lot of liquidity entered the market. We are at a place now where things are just unwinding from some of the hype and farm chasing.

@indigo_herz joined us to talk about their initiatives and ALTS by Adidas. There are ALT[er] Ego traits that are linked to different genres. Adidas as a brand has made waves and respects the culture of the space and sees it as more than just a technology.@heyerikaws spoke on how important it is to build and nurture a proper community in web3 and not just exploit like many of the large brands have done. They have an ‘into the metaverse’ taskforce that created a strategy to integrate the stripes into the blockchain and culture. Erika shared the story of not knowing who Gordon and Garga were from the Bored Apes as they weren't doxxed, but due to some key allies and advice, Adidas still did business with the Apes. Shoutout to the open-minded lawyers who enabled all of this to happen.

They have integrated @tokenproof with their ALTS initiative to allow users to access exclusive products that are only available to the web3 community.

Web2 was all about leveraging social media and other peoples platforms to get to the top, but in web3 Culture credibility, Community & Collaboration are the 3 C's that Erika believes are key to success in. ///

Adidas team on @: 32:13

GM

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