🧝♀️ A web3 smartphone?! Give me a break..
We talk about Solana Saga smartphone, Ebay buying KnownOrigin and Binance collaboration with Cristiano Ronaldo
gm degens 👻
We are back. We are so close to hitting the $1 trilly market cap again. Lot of green stuff in coinmarketcap, gotta love it. Prices somehow have stabilized overall. Pretty much same thing is happening with the stock market as well. Which means macro indicators are somehow getting stabilized even though it can still change rapidly.
Let’s see what we have for lunch today (2min 56sec read time)
🧝♀️ Solana launches their smartphone called Saga
🧛♂️ Ebay buys KnownOrigin NFT marketplace
🧞♂️ Binance partners with Cristiano Ronaldo for an upcoming NFT project
🧜♀️ Tweet of the day
🧝♀️ Solana launches their smartphone called Saga
For those of you not familiar with it, Solana is another blockchain solution, just like Ethereum. Although it was launched as a better alternative than Ethereum in terms of processing speed for transactions. Solana is one of the fastest blockchains in the industry, it is cost-effective with really low fees compared to Ethereum. Which is the reason why Solana increased 100x during the year of 2021. In terms of scalability, it is able to process thousands of hundreds of transactions in a matter of seconds.
Of course, they have been having a lot of issues. From severe outages and down times to the risk of a whale crashing the entire Solana network.
Now, they are coming out with their smartphone. Smart move? Probably not (IMO). Let’s check more into it.
They decided to call it Saga. It seems to be more like an exciting smartphone being renamed and re-purposed. It was previously called Osom OV1. It will cost $1k and you have the ability to pre-order it now, it will be shipping out in Q1 2023.
In terms of specs, nothing special about it. In fact, I don’t even know why they call it web3 smartphone. The only difference is that it will be supporting dApps built on Solana blockchain. How decentralized it can be when it will be supporting apps that are built in Solana only? That’s like Apple now, it supports only apps built based on their standards.
They have been having so many issues, including the outages and the liquidity problems, so the least we need from Solana is a smartphone.
🧛♂️ Ebay buys KnownOrigin NFT marketplace
This is pretty common those days. Web2 companies jumping on the web3 boat trying to get a piece of it in hopes it helps them recover their performance. Ebay has been connecting buyers and sellers for well over 25+ years now. Although it had its peak in the early 2000s, they have seen a pretty rapid decrease in market share for the last couple of years. Currently holders less than 5% of the e-commerce market share.
Seeing all the hype happening in the markets about NFTs, they went ahead and acquired KnownOrigin which is an already established NFT marketplace. We have seen such moves very often lately. Instead of starting a division that can work towards building a new product, they go ahead and acquire an already established product and then incorporate within their brand.
Although Ebay, started allowing people to trade NFTs back in 2021, it did not work well as expected. KnownOrigin had its own success. It is currently ranked the 12th largest NFT marketplace with ETH traded volume.
KnownOrigin has traded $7.8 million worth of ETH traded volume. Just to give you an idea for comparison, OpenSea has traded $30.5 billion.
🧞♂️ Binance partners with Cristiano Ronaldo for an upcoming NFT project
Binance has been flourishing during the crypto market crash. While Coinbase fired 18% of their workforce and Gemini fired 10% of their workforce, Binance has been going on a hiring spree by announcing 2000 open positions.
Not only that, they also have been funding web3 projects who are struggling with liquidity. On top of that, yesterday Binance came out with announcement that they have partnered with Cristiano Ronaldo, a famous soccer player.
There are not much details as to what this collaboration it is about but basically it will be related to NFTs.
This will definitely help NFT space get more exposure. To give you some perspective, Cristiano it is not only one of the best soccer players out there, but he is also one of the most followed people across all social media platforms. He has 455 million followers on Instagram.
We have to wait and see how this will plays out later, but NFT is becoming more mainstream everyday.