Issue #11 - Dear Parents, Bob Dylan Is Launching NFTs 🎶

gm Shifters!

I've crossed 11 incredibly fun, informative, and sometimes tiresome weeks writing this newsletter, and I'm curious to hear some of your feedback on how I've been doing so far!

Feel free to reply to this email with a quick note or hit us up on twitter to vote on what you want to see more of in these newsletters. Thanks for your support :)

In Today's Issue

→ Bob Dylan & Miles Davis's NFT Drops 🎤

→ Colorado Is Accepting Taxes In Crypto ⛄️

→ Someone Took Out An $8 Million Loan...Collateralized By Their NFTs 🤝

1. WATCH OUT: Bob Dylan and Miles Davis Are Launching NFTs This Year. 

GenX has entered the chat.

For all the parents, teachers, and skeptics who have defiantly ridiculed weird digital paintings of apes and squiggles over the past year (I'm with ya), this NFT news might grab your attention (& pockets): celebrity musicians Bob Dylan and Miles Davis are planning on launching NFT collections later this year.

The launches will take place on Snowcrash, a Solana-based startup that helps celebrities and influencers leverage NFTs.

And why would anyone ever buy an NFT, you begrudgingly ask? Well, beyond offering access to exclusive and limited artwork, NFTs can also contain utility. For Bob Dylan, owning an NFT might grant you access to early releases, retro CDs, or fan meetups.

Keep an eye out for more developments by visiting snowcrash.com:

2. Colorado Is Letting People Pay Taxes In Crypto

With this week's intended audience in mind (hi mom!), let's get down to America's least favorite pastime: taxes. Colorado Governor Jared Polis has announced that Colorado will become the first state to accept cryptocurrencies for state taxes.

Attempting to pioneer innovation and adoption of Web3 technologies in the US, Colorado will convert digital coin payments into US Dollars into the state's treasury if people decide to pay taxes in crypto. This is an important step forward for the crypto industry as a whole, with institutional acknowledgement of web3 a key indicator of the sector's future success. 

In other news, the Swiss city Lugano is working with stablecoin giant Tether to make Bitcoin, Tether, and a digital Lugano coin legal tender in the city. Nothing is sexier to a Web3 nerd than paying for Swiss cheese & chocolate with Bitcoin, fyi. 

3. A Crypto Giant Takes A Historic Loan Against NFTs

Some people need convincing that NFTs are more than art. Here's proof: an anonymous borrower just received an $8 million 30-day loan by offering collateral from their collection of CryptoPunks, an expensive collection of 10,000 weird-looking characters. 

"Collateral" is something you offer in case you cannot repay a loan. Historically this took the form of real estate or equities. Why does it matter that someone (referred to as a "crypto whale") is now using NFTs as collateral?

Well, it's recognition that digital collectibles are a legitimate store of value (they are.), deserve a greater role in the broader financial sector (they do.), and will scale as institutional interests wake up to their potential (they will.).

web3 content we’re munching on 🍿

1. Brian Armstrong's (Coinbase CEO) Thoughts On Crypto & Sanctions

2. The Unbundling of Opensea by Tasha Kim

3. Peering Over the Edge: Hedging Bets and the Promise of DAOs by Ali Breland

4. Why Stablecoin Interest Rates Are So Damn High by Francis Coppola

5. Tokenomics 101: The Basics of Evaluating Cryptocurrencies by Nat Eliason 

Jobs 🤓

1. Director of Economics Research @ Coinbase

2. Junior Front End Engineer @ MetaStreet

3. Brand Partnerships Manager @ OpenSea

Bounties 💸

1. Write a guide to virtual real estate for Eve Wealth ($324)

2. Make a meme for Beanstalk ($33.55)

3. Refer a Front-End, Smart Contract, or DevOps Dev to Hubble ($1,000)

Have a great rest of the week!

Sincerely, 

Noah "crypto-pilling my parents" Edelman