ππΌββοΈ Fort Worth, first city government in US to mine Bitcoin
GM degens π€ Hang in there, one more day and weekend will be here. Life is good. All we need is crypto to go up. We are pretty much at the same levels we were the other day.
Our lunch menu for today
ππΌββοΈ Fort Worth, first city government in US to mine Bitcoin
π§πΌββοΈ Disney is already working on a metaverse game
π§Ά Tweet of the day
π©π½βπ Degens Vocabulary
ποΈ Other news in the space
ππΌββοΈFort Worth, first city government in US to mine Bitcoin
Fort Worth is a relatively small city in Texas. They are the first city government in United States that have actually started to mine Bitcoin. On their press release, Mayor Mattie Parker introduced the mining on Bitcoin as a way to recognize blockchain and cryptocurrency industries with the hope that this will lead innovation in the city.
I believe this to be more like a sign that they support innovations towards anything that is built on blockchain. Based on the info they shared in their announcement, they are using three donated S9 Bitcoin mining rigs which do not have a lot of power to make money out of it, but the expectation is at least to be able to cover the electricity costs of mining.
Mayor Parker said:
These small but powerful machines mark Fort Worthβs larger commitment to becoming a leading hub for technology and innovation.
I do believe that such initiatives are really important for every city in order to attract more creators of the web3 space as that seems to be the future. Of course, there will be cities or states who are completely against it. In our previous newsletter, we talked about NY and how they plan to ban mining for the next 2 years. Their rationale behind this decision is simply because of the amount of electric energy consumed by each crypto currency mining operation that uses proof-of-work authentication methods to validate blockchain transactions.
π§πΌββοΈDisney is already working on a metaverse game
Their history of working towards Metaverse has started back in February 2022, when they hired Mike White who will lead Disneyβs strategy for the Metaverse.
Their move came right after seeing Facebook changing their name to Meta and fully focus on that. Mike White calls Metaverse as the βnext-generation storytellingβ, and believes that there is no other one that can execute better on this.
While we have seen companies like Meta (Facebook) who plans to fully immerse themselves in Metaverse, Disney has a different strategy in mind, because moving fully digital, it would hurt their existing business. Their chief executive said:
We have something that no one else has, and thatβs the physical world, a world of our parks. And so, if the metaverse is the blending of the physical and the digital in one environment, who can do it better than Disney?
So for them, it is better to find ways to connect Metaverse with their real physical spaces they have. In fact, I have been in their parks, it is amazing to see how well they have incorporated some VR/AR experiences in their parks. Pretty bullish on what they can deliver.
Other than that, Disney has a bunch of NFT collections on VeVe marketplace, with Walt Disney & Mickey Mouse Gold statue being among the most successful ones. Their floor price is around 11.7k gems (1 gem = US$1).
Other NFT projects include Star Wars, Marvel, Pixar, The Simpsons etc..
π§Ά Tweet of the day
If someone asks you why you think web3 is easy and better, show βem this tweet.
π©π½βπ Degens Vocabulary
This will be a daily section where we will keep you updated with the web3 space vocabulary (will be using them more often once audience gets more familiar with them).
Sweep the floor, - Existing holders hoping that someone will buy NFTs of a specific project from secondary markets with the hope that this will move up the floor price. π§Ή
ποΈ Other news in the space
Google Issues Warning For Billions Of Chrome Users
Crypto Mortgages Let Homebuyers Keep Bitcoin, Put Down Nothing
BlackRock launches blockchain industry ETF, names crypto as 1 of 3 big opportunities
Texas school district fires employee after discovering crypto mining rigs