Another Black Friday, JP Morgan's NFTs, Yield Farming, Virtual Neighbors...

Dec 4, 2021

Black Friday was a great day for sales, if you were buying crypto. Both bitcoin and Ethereum were selling at significant discounts. Unfortunately, I missed the sale last week but, it looks like we got another Black Friday deal today that seems to be going into the weekend. So who is buying the dip??

JP Morgan minted some commemorative NFTs this week at their Crypto Economy Forum. One is listed for 420 ETH. Kinda interesting since Mr. Dimon continues to trash crypto. Too bad the NFTs didn’t include any photos or history of Mr. John Pierpont Morgan himself.

Once again, none of this is financial advice or a recommendation to use or try a service, product or protocol. This is just about sharing information and knowledge.

Yield Farming

“Yield farming” is a term used to define how DeFi users earn interest on their crypto. They tend to commit funds in a pool of assets. When these funds are locked, users get rewards or interest. Rates vary wildly depending on the protocol and assets involved. The best yield farmers are quick to move their assets around and take advantage of opportunities rarely seen in traditional financial markets.

For example, Gemini and Coinbase offer interest on some crypto. All you have to do is hold the crypto in your wallet and commit it to their interest bearing products. I’ve seen rates ranging from 1.5% APY to 8.0% APY. No bank I know of is paying anywhere close to these rates. Not to mention, you still have access to all upside (and downside) on the cryptoasset.

Remember last week’s talk about DAOs? Well, smart contracts and many times, DAOs are at the center of services that let you earn amazing amounts of interest on your crypto. Are they risk-free? I don’t think so but there are so many layers to peel that it’s likely not a straightforward answer.

MassMutual’s Flourish Crypto Adds ETH, Releases Regulatory Blueprint
MassMutual’s investment platform Flourish Crypto has added ethereum to its suite of assets, giving registered investment advisors (RIAs) greater access to the digital asset market, the insurance giant announced Thursday.
Someone Paid $450K to Be Snoop Dogg’s Metaverse Neighbor
Snoop Dogg is recreating his California mansion in The Sandbox, a decentralized metaverse game on Ethereum. A plot next to Snoop’s virtual property sold today for about $450,000.
Aurox To Launch Its Lending Protocol On The Polygon Network
Crypto trading platform Aurox's integration with Polygon will enable traders to seamlessly execute orders without having to move between platforms.
Crypto Lender Celsius Admits Losses in $120M BadgerDAO Hack
During an ask-me-anything (AMA) YouTube live stream on Friday, Celsius CEO Alex Mashinsky said the company “lost money” in the BadgerDAO hack without specifying the value of the losses. Some had speculated earlier Friday that roughly $51 million was lost, based on blockchain data.