Thread by @DreadBong0

🧵 MEGATHREAD

I want to explore the biggest divergence playing out right now before our eyes

Price vs Adoption

Yes, the market is in turmoil.. but when you look at the underlying technologies being adopted, it is a completely different story

Grab a coffee & let's go...

1/

December is when this market retrace started, so let's use that as a starting point

We'll take a look at what's been publicly announced & who's jumping into the #crypto pool

Some of the largest companies & institutions are betting big on these technologies being the future

2/

Japan's Minister of Economic Security says implementing a #CBDC is a matter of National Security

“We must think about what happens to Japan’s national security if other countries move ahead on #CBDC”

“Japan must speed things up so its ready to issue a digital yen any time”

3/

Square CEO @jack announced the payments giant would be changing its name to BLOCK

Spiral was also announced as the new name of Square Crypto with a strict focus on #bitcoin

A heavy public shift in direction for the company to take advantage of new technologies

4/

Okay not December but we have to talk about it..

Facebook changed their name to @meta_pool

The ninth biggest company in the world changed their name and switch their entire focus to help build out the #Metaverse

This is still fucking insane to me..

5/

Say what you will about The Zuck and his weird lizard face.. but the fact he is willing to bet this big on an emerging space is crazy..

The acquisition of Oculus many moons ago was the beginning.. But a company of this size moving this hard..

The floodgates have opened

6/

Korean Stock Exchange calls for more legislation surrounding #crypto due to rising volumes

"Since virtual assets have become ‘major’ investment assets, it is time to prepare an institutional framework"

Yes, stricter requirements may be implemented, but the space is maturing

7/

Toronto Stock Exchange listed the @Fidelity Advantage Bitcoin ETF & Mutual Fund

$FBTC is the first physically backed #Bitcoin ETF to be listed & traded in Canada

A move which gives Canadians safe exposure to the space 🔥

8/

Adidas entered the #NFT space via a collaboration with @BoredApeYC, @gmoneyNFT & @punkscomic

This came after @adidas announced a partnership with @coinbase

They also purchased digital property in 2021's breakout #metaverse project, @TheSandboxGame



9/

Sheer amount of capital being raised in relation to the space in November alone was staggering!

- @cryptocom took over the Staples Center in $700m deal

@PanteraCapital, @paradigm, @ConsenSys & others raises huge capital for their funds

VC's & Hedge Funds are betting BIG

10/

Major video game publisher announced their interest in incorporating #NFTs into their future products

A contentious move which upset many gamers due to their lack of education on the subject and let's be honest.. shitty implementations of the tech by these companies

11/

First publisher to move was @Ubisoft, who announced an #NFT platform, Quartz

A poor implementation into Ghost Recon Breakpoint on PC saw a huge backlash from angry gamers

A clear indication that more education is needed as to why people should want or need this technology

12/

Nonetheless, @Ubisoft doubled down on their stance around #NFTs & have begun developing blockchain-based games

@EA & @taketwo also spoke of their interest to explore the use of NFTs in upcoming products

Let's hope they're creative/useful & not used as the latest cash-grab

13/

"The goal is to make Australia the World Leader in #crypto"

Australian Federal Treasurer aims to legalize #crypto & #bitcoin by introducing a reform plan

El Salvador may have already taken the lead on this one..

14/

- @Visa launched crypto consultation service to help banks

- WisdomTree with $76b AUM announced index for #crypto exposure

- Multiple banks explored $BTC backed loans

- @jpmorgan hosts its first #crypto event

- @WhatsApp began piloting #crypto payments to US users

15/

- Pepsi announced an #NFT collection

- @Shopify showcased its @MetaMask integration

- Mayor of Miami announces plans to put 401k retirement savings in #bitcoin

- Mubadala, a $243b UAE Wealth Fund invests in #crypto

16/

Richest man in the world, @elonmusk spoke on $DOGE superiority as a means of transactions to #Bitcoin

Elon later announced @Tesla will be accepting $DOGE for merchandise

Again, one of the most successful men on earth is bullish on this space

17/

There is a continuous battle within the US government around the correct way to approach #crypto and #bitcoin regulations

@HesterPeirce & @SenLummis continued to provide strong support for the emerging industry and share frustrations on the SEC

18/

Distributed Ledger Technology was used for the first time by @WellsFargo & @HSBC to settle cross-border payments, thanks to @batonsystems

Two banking giants used #blockchain for a shared ledger to process $USD, $CAD, $GBP & $EUR

19/

- #NYDIG announced $1b funding round, including investors like @MorganStanley

- Coinbase Wallet brings #NFTs to browser Extension

- @RayDalio "Bitcoin is like Gold.. It's amazing what it has achieved

- @jack & Jay Z fund #BTC development in Africa

20/

After @Meta, a #Metaverse arms race begun..

@Disney announced plans for a #Metaverse Theme Park after patents were approved

“We’ll be able to connect the physical & digital worlds even more closely, allowing for storytelling, without boundaries in our own Disney Metaverse”

21/

Following @adidas.. It was another clothing giants turn to enter the #Metaverse

@Nike acquired virtual sneaker company @RTFKTstudios to ramp up production on virtual wearables

"This acquisition is another step that accelerates #Nike's digital transformation"

22/

.@Microsoft unveiled #MESH which offers mixed-reality capabilities and is seen by many as a gateway to an eventual #Metaverse offering from the tech leaders

Immersive spaces, avatars, teams, unique experiences.. expect many more software & hardware solutions from $MSFT

23/

Do not bet against @Google..

Yes, they can fail miserably sometimes but when they get things right.. it hits in the biggest way possible

With an innovative AR Headset in the works in the vein of Google Glass.. Google are preparing a big move into the #Metaverse

24/

We saw crypto sponsorships become more prevalent this year..

Watch a football game & you are sure to see @eToro plastered around the pitch

@cryptocom appears exclusively on @ufc fight kits and heavily around @F1 tracks

Moves that is pushing #crypto more into retail hands

25/

Crypto exchange @ftx_app partnered with NBA star Steph Curry, among others..

@cryptocom was championed by movie star Matt Damon

@KDTrey5 is working with @coinbase to push awareness

Big stars are bringing eyes to the space & this activity will only increase

26/

In December, @Sothebys reported over $100m in #NFT sales

The auction house earned an incredible $6b from total sales, 70%+ on the previous year

“It was the strongest total in our company’s 277-year history”

27/

Rival auction house, @ChristiesInc also reported #NFT sales in excess of $150m in 2021, another record-breaking year

There is no doubt #NFTs are having a significant impact on the art industry as people clamor to own scarce digital collectibles

28/

Among those were celebrities such as @Eminem, @SHAQ & @neymarjr who all purchased @BoredApeYC

Whether you agree or not, #NFTs are quick becoming the ultimate flex among the rich.. Much like tangible art

#NFTs are going more mainstream than any #crypto tech that came before

29/

- @Mastercard partnered with @ConsenSys to enhance scalability

- @Shopify announced its own #NFT platform

- @MorganStanley expects #Metaverse to become an $8 trillion market

- @Instagram begin exploring #NFT integration

- @adidas generate $23m in #NFT sales

30/

.@Metamask announce they will be integrating #NFTs to its Chrome extension & mobile



31/

Some of the biggest hedge funds and their CEOs were more vocal on investing in #bitcoin and related companies in 2021..

Ray Dalio
Paul Tudor Jones
Stanley Druckenmiller
Steve Cohen

Many citing #inflation as a problem which #btc solves

32/

CEO of @AlibabaGroup tweeted his admiration for the industry in simple terms..

"I like #crypto" - @joetsai1999

Let's hope he doesn't meet the same fate as Jack Ma for these outrageous claims

33/

With Abu Dhabi determined to reduce its reliance on Oil and Gas..

The United Arab Emirates capital has announced its efforts to become the Middle East's #Crypto Hub

"“The whole ecosystem in Abu Dhabi…is working together to make it easy for all the actors of that space"

34/

El Salvador took things a step further by becoming the first nation to accept #Bitcoin as legal tender

@nayibbukele has know accumulated 1,500 $BTC & plans to roll out a $1b, 10 year Bitcoin Bond

Some countries aren't keen on this approach, the President doesn't care

35/

New York got a new Mayor.. and he is pro #crypto

@ericadamsfornyc shared he would be accepting his first three paychecks in #bitcoin and believes the city can become a harbor for adoption in the US

Miami is also taking this stance

36/

The pattern here is more and more places are turning pro #crypto

States and actively encouraging.. nations are turning to #bitcoin for their balance sheets and its to be expected at least 2 more countries will begin accepting #BTC as legal tender in 2022

37/

- @Samsung announce Smart TVs that can trade #NFTs

- China's Google, @Baidu_Inc is exploring the #Metaverse

- @GoldmanSachs states #Bitcoin will eat Golds market share

- @Nvidia announces it is embracing the #Metaverse

- Reddit Founder calls for #PlayToEarn explosion

38/

.@Samsung are quietly becoming a big player in the crypto scene..

First releasing their own #Crypto Wallet and integrating #NFTs with their Smart TVs..

Their next move saw them acquire land & build a 837x store in @decentraland.. Recreated after their physical store

39/

"The #metaverse empowers us to transcend physical & spatial limits to create unique virtual experiences that could not happen otherwise"

"Innovation is in our DNA, and we can’t wait for you all to experience this burgeoning virtual world"

A huge feather in $MANA's cap

40/

2021 saw the launch of the first $BTC Futures ETF

2022 is seen as the year we finally see a #BTC Spot ETF approved in the US

With not only industry figures calling for it.. but decorated senators & congressmen/women, the pressure is mounting on regulators to sign the deed

41/

The #NFT market in 2021 saw explosive growth.. but the extent is genuinely mind-blowing

Traditional Art in the year 2020 saw $50b of capital..

#NFTs in 2021 saw an unbelievable $41b of capital

2022 could be the year we see digital art flip traditional fine art

42/

"Year of the Blockchain Bridge"

@jpmorgan calls for the continuous growth of #crypto in 2022

blockworks.co/jpmorgan-2022-…

“As such, we see the #cryptocurrency markets as increasingly relevant to financial services”

They are also way more bullish on $ETH than $BTC

43/

- @Paypal exploring the creation of a #StableCoin

- UK Lawmakers create #crypto advocacy group

- @Sony announced their foray into the #Metaverse with Manchester City

- @Airbnb looking to implement #crypto payments

- @GameStop building #NFT marketplace

44/

Former SEC Chairman Jay Clayton backs Digital Assets to change the Global Financial Infrastructure

“I see digital assets, whether they are in the form of a tokenized traditional security, a #stablecoin or a new type of asset, being part of our global infrastructure”

45/

- German Bank @n26, $9b AUM to launch #crypto trading

- @CashApp begins rolling out #Bitcoin Lightning Network

- @federalreserve Chairman Jerome Powell says #Stablecoins co co-exist with Digital Dollar

- Iran to allow #crypto payments for international trade

46/

In the month of December, @Blockworks_ reported that five of the top 20 most visited finance websites, were #crypto based

2nd - @coinmarketcap
6th - @binance
9th - @coingecko
15th - @coinbase
17th - @opensea

#Crypto is simply becoming part of the furniture at this point

47/

Payments giant @Visa partnered with @ConsenSys to help develop #CBDC on-ramp tools

#Visa are becoming increasingly involved in the #crypto space at both a mainstream and infrastructure level with their work & collaboration on #ODAP, the Open Digital Asset Protocol

48/

China announced they are creating their own #NFT industry

It will be built on state backed #blockchain infrastructure (BSN)

This comes after trials around their #CBDC offering which is currently being piloted in the country

49/

After Turkey's Lira was crushed due to inflation, the country is turning to #Bitcoin

With many countries being hit hard by #inflation, it will be interesting to see how they battle these trying conditions and whether #BTC adoption could act as an alternative

50/

- Hong Kong looking to integrate #Stablecoins into financial system

- India to launch its first #bitcoin ETF

- @Meta hiring 10,000 people to work exclusively on #Metaverse solutions

- @Gap creating their own #NFTs

- @jack announces BLOCK building open #BTC Mining System

51/

Swiss Central Bank, BIS & SIX successfully conducted interbank transfers using #CBDC

“We have demonstrated innovation can be harnessed to preserve the best elements of the current financial system, including settlement in central bank money, while unlocking new benefits”

52/

- @Visa announces crypto card usage topped $1b in 2021

- Rio De Janeiro allocates 1% of its reserves to #Bitcoin

- Blackrock shares their bullish view on the #Metaverse

- Australian Stock Exchange lists BLOCK as first major #crypto listing

- Walmart launching #NFTs

53/

Twitter implements #NFT profile pictures

Simply connect your wallet to Twitter when choosing a profile picture and flex your on-chain #NFT to the world

Although not perfect, it signals strong intent from @Twitter that #NFTs are the future



54/

Seems every large company is watching the crypto space

Examples like @Walmart filing for patents around #NFTs & #Crypto.. or @Reddit looking to build future solutions on #Blockchain tech

Its becoming clear every company looking to stay relevant is looking in this direction

55/

- Apple co-founder Mike Wozniak calls #BTC "Mathematical purity"

- @PUMA files trademarks to sell #NFT goods in the #Metaverse

- @jpmorgan says #crypto is here to stay

- Milo makes it possible to buy house using #bitcoin as collateral

56/

#Bitcoin Mining had a turbulent year in 2021

China announced the ban of all mining related activities in the country, which gave the US a free shot to increase its operations

Investments into Mining companies sky-rocketed.. with companies like @intel also entering the fray

57/

We could go on and on but hopefully, you are beginning to see just how much growth is happening in the space..

And the crazy thing is, that's just the past 2-3 months!

We are seeing an acceleration around #crypto activity like never before

58/

Companies mentioned exploring either #crypto, #metaverse or #NFTs

Square
Facebook
Adidas
Ubisoft
Microsoft
EA
Disney
Visa
Whatsapp
Pepsi
Shopify
Tesla
Nike
Google
Sothebys
Christies
Mastercard
Instagram
Alibaba
Samsung
Baidu
Nvidia
Reddit
Paypal
Sony
Walmart
& more

59/

As mentioned, we are seeing one of the biggest divergences play out before our eyes..

Price is hard to watch but if you focus on the sheer growth of the #crypto space and its underlying technologies.. there simply isn't a more bullish time

60/

#CBDCs will be adopted..

#NFTs are already mainstream..

#DeFI is disrupting the financial industry..

#Metaverse will grow exponentially..

#Crypto assets are being adopted..

#Bitcoin will be the ultimate store of value

61/

Big thank you to @Blockworks_ as I used their content as a source of content and framework for this thread..

Please give them a follow 🙏

Remember.. always #DYOR & pay it forward

Enough from me... Now go away 👍

/62 - End