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- 🥛 What's gonna happen next with Twitter?
🥛 What's gonna happen next with Twitter?
Shaan Puri & Ben Levy
April 26, 2022
GM, this is the Milk Road where we take you on a safari through the crypto world every single day.
Catch up on everything we got today in just 2 minutes and 29 seconds:
💰 Elon officially buys Twitter
🦉 Ryan Carson leaves the Moonbirds project
🌊 OpenSea spends millions on a company
🍗 Quick nuggets
😂 Meme of the Day
ELON DID IT
By now, you’ve heard the news - Elon Musk is officially the new owner of Twitter.
The sale was for $54.20 per share in cash in a transaction valued at approximately $44 billion.
Twitter is now a privately held company.
The Twitter Board said: “We conducted a thoughtful and comprehensive process to assess Elon's proposal with a deliberate focus on value, certainty, and financing. The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter's stockholders."
Let’s look at the scoreboard:
Back and forth negotiations: 0
Straight to the end: 1
So, what now? Here's what he think will happen next:
1/ Trump will return to Twitter
2/ You'll be able to pay for Twitter premium with Dogecoin
3/ Elon will try to run Twitter from Starlink satellites to prevent government censorship
4/ The Milk Road account will finally get that blue check
THE MOONBIRDS COO LEAVES TO START A NEW FUND TO INVEST IN NFTS
Moonbirds launched 10 days ago and is already the 11th biggest NFT project ever (based on secondary volume) - with $455m of secondary sales volume.
So, it was a little surprising when the COO, Ryan Carson, announced he was launching a fund to buy and hold NFTs (1.21 Gigawatts Fund), while also working on Moonbirds.
The crypto community didn’t like it one bit - criticizing him for launching something that might have competing incentives with Moonbirds.
In less than a day, the plans changed and he announced that he’s leaving the Moonbirds team to go all-in on his new NFT fund.
The Milk Road’s Take: At first glance, it seems crazy that there’s this type of controversy around pictures of pixelated owls. But it’s clear that NFT projects are starting to look more and more like companies and less like art. There’s no greater proof (get it?) than Alexis Ohanian investing $10m into Moonbirds.
OPENSEA SPENDS MILLIONS ON A STARTUP
OpenSea just acquired Gem for a lot of money.
What's Gem? Gem launched just 6 months ago to make it easier for power NFT traders to buy and sell faster …and $950m of NFTs were bought and sold with it in 6 months.
Why would they do this? A lot of OpenSea's volume comes from a small number of users and Gem is being used by the most valuable users today to execute transactions.
By acquiring Gem they get a team and product designed to retain the top spending users
FLOYD MAYWEATHER SELLS PAY-PER-VIEW TICKETS THROUGH NFTS
Floyd Mayweather’s next fight will be on the helipad on top of this building, the Burj Al Arab Jumeirah hotel in Dubai.
The catch? In order to watch the Pay-Per-View fight, you’ll need to buy one of these NFTs as a ticket.
Now you might be thinking, “Oh great here comes another Mayweather money grab” and it might be just that.
But….it’s still cool that you have to buy the NFT to watch the fight vs. just buying the normal way. This will make it so you can sell your ticket (if there’s secondary demand) + have a digital collectible to commemorate that you watched the fight.
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QUICK NUGGETS
The Bored Ape Yacht Club Instagram account was hacked yesterday. A malicious link was posted on Instagram and a total of 91 NFTs valued at ~$3M were stolen from owners.
CoinShares' latest report shows that we’ve now had 3 straight weeks of more money leaving the crypto market. The interesting thing is Bitcoin actually saw $2.6M coming in while ETH saw $17M leaving the market.
Crypto Space Agency, a new NFT collection, is sending one of its NFT holders to space. 3 holders will be randomly selected to go through training and a “fit-to-fly” assessment, only 1 will be selected to fly on the next Blue Origin trip to space.
A Pokemon-inspired game, called Expedition, will be launching on Terra soon. It uses the same AR technology and players will earn $LUNA through the game.
MEME OF THE DAY
How Elon bought Twitter for $45B
— Trung Phan (@TrungTPhan)
2:42 PM • Apr 25, 2022
See ya tomorrow!
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