Hey yo what is ripe with those in the ranks
of the Chico Army, but if you're tuning for
the 1st time you ain't got no stripes, you're
just a viewer of the tube. My name is Tyler
the host of the crypto channel whose content
has a flow that just makes you want to Jam.
That beat was one in a melon...it’s time
for Chico Crypto!
Well the opportunities are abound... presenting
themself with this DIP. Now, I’m a DCA investor,
Dollar Cost Average I buy on my set schedule
no matter what the price is doing. So in my
mind, Dips can be seen as opportunities…
And scaling Ethereum & saving DeFi is the
biggest opportunity presenting itself in the
crypto space.
So you know my picks for scaling Ethereum,
in the short term xdai & in the mid to long
term polkadot & ethereum’s transition to
ETH2.
Now, I do believe they should win the scaling
competition, and the signs do point to them
being a top contender...and today, I have
more. Ameen, the summoner of the MolochDAO,
tweeted his pick for the reddit competition,
it was xdai...and he gave his reasons. None
other than Vitalik Buterin, decided to chime
in. He said “There's certainly something
to be said for "quick and easy to migrate
and forward-compatible with future optimistic
rollups and eth2 when those come, May well
be the least-bad path to bridge our current
chasm of having high adoption but not yet
having high enough trustless scalability to
properly handle it”
So to win the reddit scaling competition,
the solution will have to support general
purpose smart contracts. Aka more than just
the function of deposits and withdrawals of
tokens. Just 3 days ago this was tweeted in
regards to Scaling & adoption by Eth developers.
Layer 2s, including OMG, Loopring, and Matic
& Bridges, REN, KEEP, ONE, DOT & More….vitalike
responds. The current crops of layer 2's do
not support general-purpose contracts. Optimistic
rollups (coming soon) will.
So in my opinion, of those who are top other
contenders for the win, Matic & OMG...it can’t
be them, as Vitalik is saying they can’t
handle general purpose smart contracts which
you would think a reddit community point app
would need, especially if it’s to connect
with third party apps like metamask & hardware
wallets like ledgers.
Because...the people judging this competition
are people from the Ethereum foundation. The
board of the Ethereum foundation? Aya Miyaguchi,
Vitalik Buterin & Patrick Storcheneger.
Although politics can play into things, and
you have to realize that Aya Miyaguchi and
Vitalik Buterin are both advisors to OMG...as
we can see Aya tweeted about her position
in 2017...and Vitalik was listed as an Original
advisor to the project. So you can’t count
out OMG sliding in and taking it, even though
it’s not ready...but I hope not.
Now, what else I want to discuss is those
things called NFTs. Non Fungible Tokens, which
I see picking up the markets and pushing forward
the bull run into overdrive. Why?? Because
NFTs are what brings that real world into
the crypto world.
Now the NFT market isn’t that big as we
speak, and is mostly dominated by crypto enthusiasts
who understand blockchain. The typical regular
ole joe investor, hasn’t touched NFTs yet,
if even bitcoin or Ethereum.
Thus, the market is small, all time volume
for NFT trading just crossed 100 million,
with over 4.8 million sales performed. That
is all time, since non fungible began tracking
in July of 2017. Now crypto exchanges some
of the smaller ones, for tokens, do that in
a single day...and volume for NFTs daily over
the past couple of months, has been averaging
just over 100k.
Now why, why, why...are NFTs dragging behind,
when an exchange like Uniswap can cross 1
billion in 24 hour trading volume. I thought
NFTs were a part of the ethereum token ecosystem?
Well they are, it’s just Uniswap is built
for a certain type of token, called ERC20s
which are fungible...they work with Uniswap’s
design of liquidity pools, since when pooling
tokens and withdrawing, it doesn’t matter
which token from the pool you get, they are
all the same and have the same value.
That is way different with NTFS, as it matters
a whole hell of a lot which token you receive
back, as their value is derived from a multitude
of factors, limited quantity editions, numbers
issued from the limited collection & more.
So NFTs are being held back, no Uniswap trading
& there is no trading interface like Uniswap
for the trading of NFTs. One of the biggest
marketplaces for the trading of NFTs, is OpeSea...it’s
not bad, it connects to Metamask, but the
buying and selling process is a process, per
example, selling my Chico Crypto name for
Decentraland, you have to pick how, set bid,
auction, or bundle, and then...you gotta wait
& hope a buyer is intrigued.
Obviously, people wan’t 1-2 click buys and
sells, and Uniswap is a prime example of that.
So is it possible with pooling of tokens?
Yes, and it’s called the fractional ownership
of NFTS & Niftex has just launched this technology.
How does it work? Niftex works directly with
NFT holders to structure launches of fractions
or shards, ERc20 tokens representing a claim
on the underlying asset NFT. These shard tokens
are unique to the specific assets, giving
them a real-time valuation and governance
rights to the shardholders.
And the exchange, it’s live baby. As we
can see, NFTs shards are exchanged and traded
through a simple interface, and buying and
selling takes a couple clicks. And adding
liquidity to the pools, is easy, just like
Uniswap as it is using Uniswap.
So NFTX, this is where the true value of NFTs
begins to be realized as people realize what
it can do. It’s the first time ownership
of NFTs can be traded & exchanged through
Automated Market Makers, in a permissionless
manner.
Right now, it’s gaming items dominating
the NFT Dex, ...Axie Infinity, one of the
biggest NFT PvP NFT games in the space had
one of their rarest characters sharded, an
Almace as $ALMX tokens. That got initial eyes
on the concept, and got some small pools going…
But one of the largest NFTs in the gaming
sphere is coming to Niftex, the BAUS, from
Neon District which gives the owner special
rights to the last boss in Neon Districts
coming game. It sold for 141 Ethereum, one
of the highest in NFT history and the owner
put out a medium article, explaining he is
planning to tokenize them on NIFTEX with a
launch of q3 or q4.
Now, I’m telling you, this is just the beginning
of the NFT DeFi trading revolution. By putting
Fungibility in non fungible tokens, not only
permissionless trading opens up, but also
collateralization & more. Which means, not
only digital and gaming items, but the tokenization
of real world assets. Which we will get into
in a second, but first speaking of gaming
items, Ultra..the sponsor of todays video,
is laser focusing just on that & like always
the full details of our agreement can be found
in the description.
So Ultra can be considered the blockchain
for gaming distribution. Helping both gamers
and game developers. They are building the
one stop shop to number 1-play and discover
games number 2 buy, sell and trade those games,
with revenue sharing options..and also gaming
items including NFTs & finally 3) a place
for the social aspect-communities, streaming
& of course competition.
And they have backing from big names to help
accomplish this. Back in November, it was
announced that Ubisoft was going to be a block
producer on their blockchain, then in December
it was announced that AMD and Ultra would
be working together on game distribution & co
marketing activities.
Now, if you didn’t know the platform launch
could be coming soon... In August Ultra announced
the launch of their Ultra SDK for closed Beta...and
this is big, because it’’s a cross platform
SDK where you can build for the common gaming
platforms, steam, xbox, playstation and more,
use the common engines,..use the common languages
and tools and then enhance it with blockchain
capabilities and ultra.
And according to the Ultra team, 150 game
developers and publishers are keen and ready
to have their games on or launched with the
platform after it goes live.
Now why would they wan’t to build and publish
with Ultra? NFTs my friends. By purchasing
games on Ultra Games, users are actually purchasing
Game NFTs that prove ownership and unlock
the right to download, play and get updates.
Game NFT parameters are easily set by the
publisher and devs, including game tradeability,
minimum resale prices, ability for resell
revenue sharing & more.
Now remember, how I said the social aspect
of gaming would be a major component, well
Ultra has partnered up with another favorite
of mine, to accomplish this and I use their
streaming service every weekend. Yesterday,
Theta and Ultra announced a partnership where
Theta would be integrated into Ultra &Ultra’s
users will have opportunities to earn both
TFUEL and UOS token rewards for relaying streams
they watch, which can be used for purchasing
content across the Ultra platform including
games and virtual item NFTs.
So, gaming and digital NFTs, a bubbling market
that Ultra has laid the groundwork to capture.
But now, it’s time to talk about NFTs and
real world items.
Now this space is brand spanking new, not
many projects have accomplished much in regards
to bridging the two. Lukso is one I have my
eyes on, but it’s still in testnet..so the
wait is the hardest part…
But what about what is live, what is tokenizing
real world assets, and making those who invest
in it a very nice return? I’ve spoke of
this before, and that is Centrifuge,
So what is this and what real world items
are being tokenized as NFTs? Well the asset
originators, in Centrigure are able to tokenize
their real world assets, which include invoices,
royalties, and in the future mortgages and
auto loans.
So in regards to invoices, business’s worldwide
sit on payments waiting to be made, right
now, there is actually 30 trillion dollars
locked in outstanding payments. Centrifuges
Tinlake, gives these businesses the opportunity
to tokenize these outstanding payments, and
access cash when they need it.
Investors, we pool together stablecoins, and
invest in the NFTs, for a promise of a return
from the asset originator.
Now, there have been 8 tinlake pools so far,
with over 2.1 million dollars financed. And
as we can see, Drop investors, those who invested
in the NFTs have received a 6 percent return,
and the highest an 11.6 percent return.
These are high yield, and the pools are short
term, maturities in 30 to 45 days with invoices,
and the risk of investing is much lower than
other things in crypto DeFi related, you have
a much greater chance of getting paid back.
Now the right to shares of the NFT payments
pools come in the form of investment tokens.
Drop & Tin, Drop is the less risky senior
pool, which has a stable return rate...while
TIN is the junior pool, having a variable
rate, which can be higher, but you take losses
1st if any happen.
Now as we can see, from their largest valued
pool, Console Freight 2, the current tin variable
rate, was nearly 41 percent. Damn good returns,
for those that took the big risk & would eat
losses if there were any.
Besides the investment tokens, Centrifuge
has a governance token. Radial tokens & getting
them, is next to near impossible, if you're
not a validator for their chain. Which by
the way, is a substrate built, polkadot ready
chain, as seen from the explorer.
But now you can get them through Tinlake liquidity
mining. Both asset originators & investors,
will receive RAD tokens in addition to their
financing or yield. And as we can see this
reward of RAD is high to begin, but as more
DAI is locked with Tinlake, the lower the
reward goes.
Investors, unfortunately there are barriers...you
must have a minimum of a 10k investment, you
must pass KYC & AML, and you must be accredited.
But those outside of the US, accreditation
is not needed, although the other 2 requirements
still apply.
I’m just giving you a tip, especially if
your oustide of the US, RAD tokens will be
big in my opinion, and contributing to the
initial stages of the platform, is how you
get them. Centrifuge isn’t only connected
to Polkadot and their ecosystem, they also
are partnered with MakerDao and Maker is getting
ready to have Drop and Tin tokens, as collateral
with Dai..just 15 days ago in the forums,
they are discussing it with a deep infographic
of how oracles, the loans, tokens & liquidations
would work….I hope you get it. Cheers viewers
I’ll see you next time!
