18th Edition

Hey civilkitten,

This week in The Flippening, TL;DR

Budweiser’s entry into the world of NFT; changes its twitter handle to beer.eth. Facebook looking to capitalize on the huge revenue generating sector: allows crypto related ads on its platform. One of Europe’s largest economies proposes crypto & blockchain in its four-year development roadmap. Coin of the week, Mudrex Coin Sets to look out for, market performance, a metaverse explainer and how crypto will be a part of it, meme, and more.

Top Highlights of the Week (ending 3rd Dec)

Budweiser buys Beer.eth ENS name for 30 ETH, and the Rocket NFT — 'King of Beers' for 8 ETH

Budweiser has jumped into the NFT gaming space by purchasing an NFT on Opensea for 8 ether ($25.7K). Moreover, Budweiser also owns the domain name “beer.eth” after the firm purchased the name for 30 ether ($96K).

Budweiser changed its Twitter username to beer.eth with a caption reading’ “If you’re reading this, you need a beer.”

According to their official Twitter post, their Budverse cans heritage editions can be purchased on Opensea.

Facebook aggressively going pro-crypto; now allows crypto related ads

After Facebook's recent rebranding to Meta, the social networking giant is now set to allow crypto-oriented companies to promote and advertise on its platform.

Previously, those wishing to advertise for cryptocurrency products would have to undergo a rigorous process that involved disclosing a plethora of information. Now, they need only present one of 27 acceptable licenses.

Publicly, this decision has been made on the basis of the cryptocurrency and blockchain regulatory landscape maturing.

Germany’s plans to bring a digital revolution and that includes crypto & blockchain

The new incoming government in Germany has presented a coalition agreement which—for the first time ever—mentions cryptocurrencies and blockchain technology.

Their plan is to bring a digital revolution to one of Europe's largest economies. The proposal lays down the plans for the upcoming four years. For crypto enthusiasts, this news comes as a huge encouragement as it lays the foundation for more nations to proactively innovate and participate in the cryptocurrency ecosystem.

Other Highlights:

• Thailand Tourism planning launch of utility token called TAT Coin to promote its "crypto tourism” campaign: Read it here
• Square stock drops 6% after rebranding to 'Block': Read it here
• Crypto.com to Acquire Two Exchanges in First Half of 2022: Read it here
• India to regulate, not ban, crypto: Cabinet documents: Read it here

Market Performance Overview

Note: Market updates till Dec 3, 1430 hrs UTC.

It remained a good week for the cryptocurrency market with most of the top 10 cryptocurrencies ending the week with decent gains. The largest altcoin, Ethereum, shot up more than 12%, and the sleeping giant Solana shot up more than 20%. Bitcoin inched closer towards the $57,000 mark yet again.

Note: Sector wise updates till Dec 3, 1430 hrs UTC.

It was a decent week for the cryptocurrency market with most of the sectors ending the week with decent gains. Smart Contracts performed the best after rising almost 14%. Web 3 remained the lowest gainer, with gains of 3.73%. All other sectors witnessed around 5% gains. Such consolidations are always a good time to enter the markets. Choosing a sector could be a more prudent choice than picking a single crypto in the long run. Mudrex Coin Sets let you invest in your favorite sector in a few clicks!

Coin of the week

TERRA: $LUNA

Terra's native token, LUNA, is used to stabilize the price of the protocol's stablecoins. LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token.

Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems.

With the recent speculations surrounding some other stablecoins, and the growing importance of UST (Terra's stablecoin), the price of LUNA is on a solid uptrend.

Crypto Simplified: What exactly is the metaverse?

Metaverse is a perception of the internet that delivers “infinite possibilities” for digital societies. It is a virtual world that attempts to bridge the gap between the real world and the virtual world.

You can have a virtual avatar that interacts within the metaverse. Consider the metaverse to be a place parallel to the physical world. Although it is more of a gamified experience at the moment, the possibilities are truly endless. These kinds of worlds have existed in various games like World of Warcraft, and Runescape. A similar concept was also showcased in the movie ‘Ready Player One.’

Metaverse holds the potential to revolutionize our social workspace for educational, professional, entertainment, and retail applications. Metaverse might become the new digital universe for seamless living with new roads of interaction and transaction.

All the elements that make up the universe require resources. These could be anything from buildings, roads, the clothes of the avatar. In order for the economic component of the Metaverse to flourish, there first has to emerge shared standards and protocols that are widely recognized for the issuance and movement of virtual goods. This is where cryptocurrency and NFTs come into the picture.

While uncertainties around the Metaverse obscure the foreseen future, the anticipation of tech giants have given it credence. The fidelity for Extended Reality (XR) to revolutionize the virtual experience complies with the core of Metaverse. The mainstream acceptance of Metaverse will depend upon the joint fusion of cryptocurrencies, blockchain technology, XR environment, security services, and many more factors.

Featured - Mudrex Android app is now available!

We are super stoked to announce that our app is now available on the Google play store. Now you can manage your portfolio, invest in Coin Sets directly from the app.

We would love to hear your feedback and suggestions to improve the app experience for everyone.

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Here we are, at the end of our 18th edition. We hope you liked reading it. Please write back with your feedback, comments, and stuff that you’d like us to include in the newsletter. We end with a meme in this tax filing season, that summarizes the government’s stance towards cryptocurrencies.

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