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created by @themikesteez

December 15, 2021

gm frens,

No official newsletter this week. Instead, check out Master the Meta's newsletter for some of the top stories in the Web3 gaming world this week:

https://naavik.co/themetas/moon-wolf

Why no newsletter? Because I want to use today's email to talk about the biggest news that's happened to the NFT world:

Nike acquired NFT studio RTFKT (pronounced "artifact", not "rat fucked" 😂)

While this isn't exactly gaming news, it's big news for the NFT space in general.

While some met this news with excitement:

Others were skeptical:

Both sides of the argument make good points.

On one hand, this gives "credibility" to the space in the eyes of a mainstream audience and can bring more people into the ecosystem, which is great for growth, adoption, and financial gainzzzzzz (amirite?)

On the other hand...do we need credibility? Do we want corporations to come into this space just to reap more benefits and take away from the people?

Because Web3 is about the people!

Or is it?

I guess it depends who you ask.

But during some conversations I've had, one thing is clear:

Human nature is human nature.

No matter how much technology has evolved, humans today are wired pretty much the same as we always have been.

And one thing that's been consistent throughout humanity is that, for the majority, money talks.

Most people got into crypto / NFTs / Web3 because of the financial promise of this space.

Sure, there are those who are in it for different reasons, but for most people (yes, I'm generalizing on purpose), financial upside is a core motivator.

Anyway, I see both sides of the argument.

I would love to see mainstream adoption of crypto and NFTs. Yes, because I stand to gain potential profits, but also because I'm so fascinated by what this technology unlocks, and I've had so much fun in the space, and genuinely wish more people benefited from it.

I also see the danger of the NFT space just becoming a digital version of the Fortune 500, where corporations once again dictate things and kill our vision of an open, decentralized, and democratic Metaverse.

To be honest, I think there's a balance that can be achieved.

And if not...well, I believe that we get what we deserve.

So if the market allows Web3 to just be Web2 all over again with crypto sprinkled on top, well 🤷‍♂️

I know that's a controversial thing to say, and I'm open to changing my attitude with more education on it.

But right now, I'm just excited about the possibilities for this space and I can't wait to see what unfolds in the next year.

– Michael, editor of Crypto GameBites

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Disclosure: From time-to-time I might add links in this newsletter to products I use and I may receive commission if you make a purchase through one of these links. Also, I hold crypto assets (shocking right?). See my investment disclosures here.

Disclaimer to protect my a$$: All investment strategies and investments involve risk of loss. Nothing contained in this magical newsletter should be construed as financial or investment advice. We’re just two brains connecting through cyberspace and shooting the shit about the wild world of blockchain gaming, where buzzwords like “crypto” and “NFTs” roam freely. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit. Remember to do your own damn research and don’t just ape into things like I did with all those shitcoins from the Spring 2021 bull run.