No NFTs For You!

GM. We’re more than halfway through the week. Take yourself out to lunch today as your reward. Today we’re talking about Minecraft, the Solana Saga, and THORChain’s Kill Switch. No, not that kind of kill switch. Still, some pretty interesting stuff. Read on!

Minecraft is a lot of fun for kids, but its publishing company, Microsoft, really doesn’t want it involved with the blockchain - specifically NFTs. Why the NFT hate? We dig deeper in today’s newsletter.

Today’s Topics:

• Minecraft nixing NFTs

• Saga of the Saga

• THORChain: Ragnorok

• Quick Links

Minecraft May Not Be So Crafty

Minecraft has been a hit game among children and teens for a while now, but I guess its publisher, Microsoft, and owner, Mojang, aren’t too keen on the idea of people using the game for NFT creation. All of the game’s servers are independently run by creators and fans, but blockchain tech will soon be banned from every single one of them. You can’t even create an NFT using the likeness of your favorite Minecraft character. Sorry, Steve. We won’t be seeing your blocky face outside of the game.

It’s all in the name of safety for users, or so they say. Right now, those who run servers can charge money for these unique experiences, and if people are allowed to create NFTs using any likeness to Minecraft, then, well, it’s no longer unique. I guess we can see their point?

In addition to stealing profits, switching to this type of investment mentality takes the fun and enjoyment out of the game. The argument is that the long-term joy and success of Minecraft players would be interrupted by this type of tech intrusion.

One problem with this announcement, and why some users are so angry, is that there are already Minecraft servers rewarding players with NFTs as well as projects that have already built their success on Minecraft NFT collectibles.

There’s currently no timeline for implementation of this rule, and Mojang has been very vague about its willingness to re-evaluate in the future. The most pressing concern now is how this will affect the game’s success and volume of users.

Is Solana's Saga a Game Changer?

Now that some of the hype has died down for the Solana Saga, @LitecoinYagami gives his thoughts on this unique device in a Twitter thread. The problem with many blockchain phones to this point is that they’re simply not capable of taking on powerhouses like Apple and Samsung.

But Solana looks to change all that. For starters, the specs - 512 GB storage, 12 GB RAM, Snapdragon series 8 chipset, and a 6.67” OLED display - make it a legitimate option for those in the market for a new smartphone. Plus, if you’re into crypto, it’s designed specifically with Web3 in mind, supporting NFTs and crypto straight out of the box.

Hold on, though, because that’s not all. With a built-in dApp store, ultra-secure hardware, and revolutionary payment methods, the Saga might turn the mobile industry on its head.

Tech moves fast. Everyone knows it. With the tools needed to bring blockchain to the masses, the Saga is driving forward and pressuring Samsung and Apple to make a choice. Join the crypto bandwagon or get left behind.

We see it all the time in tech. Ask Jeeves. AOL. Netscape Navigator. The past is littered with large companies that refused to get on board with emerging tech. Solana is pushing forward. Who will join them?

Kill Switch Activated

An announcement today confirmed that THORChain is going Ragnorok on Ethereum and BNB Chain tokens. The platform will no longer take RUNE tokens from either of these blockchains as the project looks to phase them out.

However, developers are quick to point out that RUNE tokens on these networks have defects that have the potential to create security problems. Notably, the developer team has pointed out that the ETH.RUNE tokens have a flaw which could lead to successful phishing attacks.

That’s not what you want.

Quick Headlines

Still a solid foundation for Coinbase - Amid rumors that Coinbase may be involved in some unhealthy lending practices, they assure users they’re committed to growing their company in a safe way.

Tesla screams Bitcoin impairment - We all thought Elon was aping in, but we thought wrong. Now his company is selling nearly all of their Bitcoin holdings. Should you?

The return of Bitcoin - Is it coming back? It certainly seems to be. This crypto winter can’t last forever, right?

Ethereum on the other hand… - One crypto industry panel predicts volatile months ahead for both Ethereum and the US dollar, but only time will tell. And apparently, good news awaits at the end of the year.

Launches:

Caduceus, we see you - One of the world’s first Metaverse protocols is set to launch its token on ByBit. Caduceus is pretty excited about the launch of CMP, and their goal is to create an infrastructure layer for future Metaverse development.

Fail:

It’s like dominos - It seems like we’ve seen a lot of fails in the crypto universe lately, and here’s another one. The Zipmex exchange is suspending withdrawals on their platform, blaming circumstances beyond their control.

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Disclosure: We are a newsletter for information only. We are not financial advisors nor do we claim to be. Consult your legal, investment or tax advisor. Crypto is risky. Do you own research.