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The Bears of Crypto — #3 (23/01/2022)

Wow, what a tragic week it has been! Anyways, welcome back to unit 3 of our ART HAUS Weekly Blurb. Here, we sum up key events that happened over the week, focusing on NFT, crypto, and blockchain news.

This week, my crypto portfolio really went brrrr… Without further ado, let’s get into events like the Crypto.com hack, the NFT partnership between Adidas and Prada, as well as the dreaded bears of crypto.

What’s Up in the HAUS!

We’re nearly there lads… the final touches to Gnars are being applied as we speak!

@Icebergy_’s new PFP. LFG!!

Over the course of this week, we’ve been hitting the Twitter grounds; connecting with various influencers to hop on the Gnars project.

We’re hon(gnar)ed for our friends @notsofast and @Icerbegy_ to have expressed their enthusiasm about the project.

We have also included @CryptoBatzNFT to make our Gnars skateboarding mini-game ever more exciting. The world of Gnars-Batz integration; coming your way soon!

If you haven’t done it already, do check out our Twitter for regular updates on the project. Stay Gnarly!

News Of The Week: Entering a Bear Market?

Ever since hitting its ATH in mid-November, Bitcoin has been on a bearish run. Yesterday marked the 50% drop since ATH, and BTC is currently standing at around 35K.

BTC Price Chart – 3 Months

What everyone first thought was a minor dip, ended up in a red bloodbath. But are we really in a bear market akin to 2018? Will we continue dropping another 10%,20%,30%? Or, is this a good time to buy?

The “Strong” Support

Earlier this month in our first edition of the ART HAUS blurb, we also talked about dipping crypto prices. Since then, cryptocurrencies in general have had weakened support levels due to geopolitical issues like Kazakhstan’s Bitcoin mining halt and US FED inflation announcements.

With Bitcoin’s price hovering around 42K, HODLers had high hopes for a reversal. After all, 4:20 is a strong support level. So what caused prices to dip further?

Stock Market Selloff and Russia’s Intervention

On the 21st of Jan, there was a sharp crypto selloff which triggered the catastrophic further dip in the crypto market. Coinciding with stock market jitters, traders also withdrew money out of the crypto market and put it into more stable investments such as Bonds.

Weird… Bitcoin is supposed to be a hedge against inflation. However, it is starting to move in tandem with the stock market, showing the influence of mainstream stock investors in the crypto market.

The very next day, Russia’s central banks made a game-changing announcement that cryptocurrency helped fuel illegal activities and heightened the risks of investing.

With a potential ban of cryptocurrency mining and trading on the line, Russia could very well follow in China’s footsteps. All we can do is hope for the best. Bitcoin can stand against one superpower against it, can it stand against two?

Or worse, can it stand against all three of them?

News Daily

17.1.2022

Fendi and Ledger are collaborating to launch a “branded” hardware wallet accessory, suited for Ledger. The collection is custom-made for Ledger wallets, and this is one of Fendi’s first ventures into the world of cryptocurrency. One food for thought though: Is it worth showing off your Ledger wallet in public?

18.1.2022

Absurd mess-up alert: 2.66 million euros wasted on a rare Dune Book, under the assumption that they could make NFTs out of it! In fact, copyright on this book still exists and hence Spice DAO wouldn’t be able to generate their NFTs. Read more to find out about this hell of an expensive mistake.

19.1.2022

Decentraland Film Club is back again! This time, they are hosting a video creation contest, awarding attractive prizes to those who make the best clips of Decentraland and metaverse gameplay. Have a read of the article to find out how you can sign up.

The Decentraland Film Club Returns with Epic Video Contest – NFT Plazas
Calling budding directors, actors and editors, the grandest film club in the metaverse has returned for an extraordinary high-stakes…
The Decentraland Film Club Returns with Epic Video Contest – NFT Plazas
Calling budding directors, actors and editors, the grandest film club in the metaverse has returned for an extraordinary high-stakes…

20.1.2022

On 17th January, the Crypto.com exchange got hacked. The compromise of their 2FA verification system resulted in a loss of over $15 million worth of cryptocurrencies. Take a look to understand how the once reputable exchange is trying to earn back customers’ trust.

21.1.2022

LINE is the top social networking platform in Japan, and they, like Meta, are venturing into the metaverse. It has released its very own NFT marketplace, DOSI, and is looking to venture deeper into the web3 space this year. Can’t wait to see what’s in store for LINE!

22.1.2022

Also known as the social media for NFT enthusiasts, Twitter has finally incorporated an NFT-related feature into its platform. You can now display your favorite NFT (hexagonal format) as your Twitter profile picture. While this sounds great, there are still some limitations to the type of NFT you can display, or the membership status you need to do so.

Twitter Debuts Hexagon-Shaped Profile Pictures for Verified NFTs –
Microblogging and social networking powerhouse Twitter has become one of the first social media platforms to build NFTs into…
Twitter Debuts Hexagon-Shaped Profile Pictures for Verified NFTs –
Microblogging and social networking powerhouse Twitter has become one of the first social media platforms to build NFTs into…

23.1.2022

While the entire cryptocurrency and NFT market has been falling, NBA Top Shot NFTs have been steadily rising in value. Dapper Labs, the creators of this NFT collection, is looking to branch out to UFC NFTs, reaching beyond basketball territory. Read more to find out how Basketball star Kevin Durant helped boost the NFT sales!

NBA Top Shot NFTs Have Quietly Surged 72% in 30 Days – Decrypt
The NBA collectibles marketplace that started the NFT boom almost a year ago is hot again after a Kevin Durant ad.
NBA Top Shot NFTs Have Quietly Surged 72% in 30 Days – Decrypt
The NBA collectibles marketplace that started the NFT boom almost a year ago is hot again after a Kevin Durant ad.

ART HAUS Blog Releases

This week, we had a rather detailed write-up of hardware wallets, discussing whether it’s worth it, and including our personal experiences too.

Are Hardware Wallets Worth It + A Look Into Ledger Nano X
When you bought your first cryptocurrency, it was probably through an exchange. Whether it’s Binance for the low fees, Kraken for the top-notch security, or even Coinbase for the free…
Are Hardware Wallets Worth It + A Look Into Ledger Nano X
When you bought your first cryptocurrency, it was probably through an exchange. Whether it’s Binance for the low fees, Kraken for the top-notch security, or even Coinbase for the free…

In this article, we addressed the question most beginner crypto HODLers face, “Are Hardware wallets worth it?”. In short, they are. We also explore the differences between hardware wallets and other methods of crypto storage, as well as the user experience of Ledger Nano X.

If you’re looking to purchase a Ledger wallet, be sure to use our referral code to support me. Thanks for the help!

Podcasts: Worth a Listen

Platon and the Optimism of the Human Condition

‎PROOF: Artist Spotlight: Platon and the Optimism of the Human Condition on Apple Podcasts
‎Show PROOF, Ep Artist Spotlight: Platon and the Optimism of the Human Condition – Jan 18, 2022
‎PROOF: Artist Spotlight: Platon and the Optimism of the Human Condition on Apple Podcasts
‎Show PROOF, Ep Artist Spotlight: Platon and the Optimism of the Human Condition – Jan 18, 2022

Platon, a famous British photographer known for capturing faces of the biggest names around the world, talks about his involvement in the NFT space. In this episode, they discuss Platon’s current and future NFT projects, the pros and cons of the space, as well as his motivation to keep on shooting.

Listen Now

Blake Kathryn on Working With Paris Hilton and Mental Health in NFTs

Blake Kathryn on Working With Paris Hilton and Mental Health in NFTs
On this episode of the nft now podcast, Blake Kathryn discusses pivoting from client work to NFTs, where she finds inspiration, and more.
Blake Kathryn on Working With Paris Hilton and Mental Health in NFTs
On this episode of the nft now podcast, Blake Kathryn discusses pivoting from client work to NFTs, where she finds inspiration, and more.

Blake Kathryn, an experienced visual content creator, talks about her endeavors in the NFT space. Generating over $3.6 million from her NFT artwork, Blake encourages more teenage artists to give NFTs a shot. She also continues to advocate for mental health, in the midst of a hectic NFT environment.

Listen Now

Tamara Frankel: Deep Dive into the Polkadot and Kusama Ecosystem, the Power of Memes, and DeFi 3.0

Tamara Frankel: Deep Dive into the Polkadot and Kusama Ecosystem, the Power of Memes, and DeFi 3.0 | The Delphi Podcast
In this episode, we sit down with Tamara Frankel, Founding Partner of D1 Ventures, a crypto asset focused investment and advisory firm that is powering the future of the open…
Tamara Frankel: Deep Dive into the Polkadot and Kusama Ecosystem, the Power of Memes, and DeFi 3.0 | The Delphi Podcast
In this episode, we sit down with Tamara Frankel, Founding Partner of D1 Ventures, a crypto asset focused investment and advisory firm that is powering the future of the open…

Tamara Frankel, a co-founder of a crypto investment advisory company, joins a podcast to discuss various crypto technologies. She specifically mentions projects like Polkadot and Kusama, and how these technologies can help shape the future of the crypto world.

Listen Now

Wrap Up

So that’s all for this week! Hope you enjoyed this unit of the ART HAUS Weekly Blurb, and stay tuned for the next one. And oh yeah, I’m HODLing my crypto despite the “crash”, not selling anytime soon!

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