Not much to write home regarding traditional markets, equities are basically unchanged. Interest rates are rallying with the news of the bank fiasco. Today the FOMC will conclude with the expectation of a 25 bps hike and the press meeting set to happen at 1:30pm EST. We will see if there is commentary around the banking situation, but things are still wobbly.

Crypto is still doing ok, with BTC and ETH staying in the same range it has been for a while. The alts aren't doing well with $APE down in the $3 price range. BTC dominance is up with all of the banking headlines; Mando imagines some volatility on the back of the FOMC commentary.

NFTs & Crypto

It feels like a reverse of the BLUR impact, Azuki is number 1. The floor is around 16-17 ETH but both Miladys and Cryptopunk’s floor has dropped off a bit. BLUR volume has dominated the markets with the new loan dynamic offered by BLEND. Stories are all over the timeline of people taking loans on assets for "deals" and betting long using BLEND for wins.

Lebron James wore some @RTFKT sneakers on his way to the stadium yesterday during the NBA playoffs for game 1 of the Lakers vs Warriors series, and they took the win in Golden State's house. LFG!

The NFT landscape is rough for people looking to buy into some of their favorite projects; floors are low for many of what has been considered the top projects, but the market manipulation is still very present and the risk to entry is very high from an investment standpoint. It is tough to be a small-time or even average participant in this environment.

Since the Ethereum merge event we have burned over 142k ETH, maintaining a deflationary status. Thinking about ETH over the long term, it is a really aggressive metric. Mando spoke about the potential of having to change the dynamic of the burn if the bull returns, this type of action could make our favorite chain too expensive to use and drive everyone to L2s.

Ordinals have been making waves and BRC-20 is in the headlines. Bitcoiners have basically built the infrastructure to have $hitcoins on Bitcoin! The maxi narrative is there is no longer any need for any chain other than Bitcoin. gg

H3NSY

We were joined by @boillotlaurent the CEO of @Hennessy to talk about everything @H3nsy. He has been with LVMH for 22 years! Joined Hennessy and has been immersed in the cognac brand and the community around it before embarking on this web3 journey along with @BarichDanielle.

Hennessy came into web3 via intuition and genuine curiosity; it started as an experiment, making connections in the space and even a DAO experience. Laurent found that there is culture present in web3 and understood the massive value of getting involved in this culture and building a community as early as possible.

When was the last time you did something for the first time? @BoillotLaurent urges you to answer this question via action and pursue innovation!

GM!

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