Bankless

ROLLUP: Visa buys a CryptoPunk | Budweiser Beer. ETH | NFT Mania | Michael Saylor Bitcoin | EIP1559

Aug 27, 2021
Discover Visa's surprising plunge into the NFT scene with its purchase of a CryptoPunk, and Budweiser's bold move into beer.eth. Explore the explosive growth of NFTs on OpenSea, the impact of Ethereum's EIP-1559, and the ongoing evolution of DeFi. The discussions dive into staking strategies on Lido, innovative new protocols, and the shifting dynamics of corporate engagement in crypto. Tune in for insights on Web3's potential to transform communities and democratize finance in an ever-changing digital landscape.
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ADVICE

Market Timing

  • Buy assets when markets are quiet, not loud.
  • NFTs are currently loud, while DeFi is relatively quiet.
INSIGHT

OpenSea's Impact

  • OpenSea NFT activity accounts for 15% of all ETH burned.
  • This implies 15% of Ethereum's economic activity is NFT trading on OpenSea.
INSIGHT

Digital Scalability

  • OpenSea's daily volume is approaching that of eBay, despite fewer users.
  • This highlights the scalability of digital goods over physical ones.
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