📔 Weekly Journal: Casio Watches Web3 ⌚👀🌐
[6 min read] Your guide to getting ahead on the digital frontier (& the weekend!). Today, the usual market news as well as Casio's use of Web3 to grow a community and elevate the G-Shock brand
Welcome to this week’s Weekly Journal 📔, your guide to the latest news & innovation in emerging technology, digital assets, and our exciting path to the Metaverse. This is week 54 of the 520 weeks of newsletters I have committed to, a decade of documenting our physical and digital lives converge.
New subscribers are encouraged to check out the history & purpose of this newsletter as well as the archive.
Enjoy your weekend! 😎
Ryan
Here’s what you’re getting today:
📈 Market update: Slight pullback this week, JPMorgan analysts predict that ETH is likely to outperform Bitcoin in 2024
🗞️ Interesting news: Casio releases watch NFTs with perks, Silicon Valley billionaires building “Network States”, new accounting rules that may prompt more firms to add Bitcoin to their balance sheets.
👓 Read of the week: Read about the Mocaverse metaverse from Animoca Brands.
🎥 Video of the week: Check out two different NFTs that the Virtual G-Shock project unveiled this week
🤖 AI: The "Grindr wingman" designed to help enhance social interactions by offering dating advice, conversation starters, and personalised recommendations.
✅ Weekly poll: Help choose the emerging tech topic for Wednesday’s showcase.
🤑 DCA with me: Follow my regular $50 weekly investing in an emerging asset class.
Market Update
All eyes are on Ethereum, JPMorgan analysts predict that ETH is likely to outperform Bitcoin and other cryptocurrencies in 2024, mainly due to an upgrade called Protodanksharding. This upgrade is expected to improve Ethereum's performance without major changes. Analysts are cautious about the overall cryptocurrency market, highlighting that positive factors for Bitcoin, such as potential ETF approval and an upcoming halving, are already factored into the price. JPMorgan expresses disappointment in decentralised finance's slow integration into traditional finance and notes cautiously improved venture capital funding in Q4 2023, possibly indicating the end of a "crypto winter."
🔥🗺️ 7-day heatmap below, ever so slight pullback.
🎭 Crypto Fear and Greed Index is based on volatility, social media sentiments, surveys, market momentum, and a few other bits and pieces. Still in the Greed zone, no real change this week.
Interesting news from this week🗞️
Casio introduced 2,000 Ethereum NFTs featuring futuristic "Virtual G-Shock" watch designs, marking its second venture into the NFT space. Priced at 0.1 ETH each ($370NZD/$230USD), owners gain exclusive perks, including a tour of the G-Shock Endurance Test Lab, design insights, and priority access to future NFT releases. Casio aims to foster innovation and engagement within the G-Shock community through this digital initiative.
Silicon Valley billionaires, including Coinbase CEO Brian Armstrong, have launched the Balaji Fund to finance "Network States" advocating libertarian ideals. Founded by investor Balaji Srinivasan, the fund attracted support from tech figures like AngelList co-founder Naval Ravikant and venture capitalist Fred Wilson. The initiative aims to build real-world communities adhering to "internet values" such as openness and peer-to-peer interaction, utilising Bitcoin and experimenting with private-run institutions. Balaji’s decade-long vision challenges centralised states, emphasising the potential for wealthy individuals to reclaim power through parallel societies. The fund may significantly contribute to pro-tech, libertarian projects. I wrote about these “borderless nations” a few months ago:
Senator Elizabeth Warren's Digital Asset Anti-Money Laundering Act is gaining traction despite concerns over its potential impact on the crypto industry. The bill, backed by five new senators and various organisations, intends to heighten regulatory scrutiny on crypto to curb illicit activities. However, critics argue that its extension of Know-Your-Customer requirements could effectively ban crypto in the UK. The proposed legislation also faces opposition for expanding rules for foreign bank accounts to include digital assets. Some view the bill as overly restrictive, potentially undermining the innovation and legitimate uses of cryptocurrencies.
New accounting rules in the UK may prompt more US firms, including MicroStrategy and Tesla, to add Bitcoin to their balance sheets. The Financial Accounting Standards Board's rule change allows companies to report gains, not just losses, providing a more accurate reflection of crypto holdings' value. This shift could encourage mainstream corporate adoption, allowing companies to strategically treat Bitcoin as a financial asset with reported gains and losses. The move underscores growing corporate demand for integrating crypto into accounting practices, signalling the establishment of digital assets in the financial landscape.
👓Read of the Week
Animoca Brands has secured an additional $11.88 million for its Mocaverse metaverse project, bringing the total funding to $31.88 million. The Hong Kong-based firm plans to create a digital identity and loyalty platform for blockchain games and apps. The Mocaverse aims to be an empowerment layer for Web3 culture, offering features like digital identity profiles and loyalty points. The ecosystem will encompass Animoca's portfolio of over 400 companies, expanding to other Web3 projects.
This week’s read is all about their Mocaverse, some really interesting stuff. Sneak peek below:
🎥 Watch of the week
Following on from the news story earlier, check out the NFTs that the Virtual G-Shock project unveiled this week. I prefer the VGA-002 design myself, I’m always interested in how legacy brands use Web3 & NFTs, definitely worth a watch (get it? 😏).
AI 🎨🤖🎵✍🏼
Grindr, a leading LGBTQ dating app, has partnered with generative AI company Ex-human to integrate emotionally engaging chatbots into its platform. These customisable chatbots, renowned for meaningful conversations, include 3D models like an AI Elon Musk. Grindr aims to enhance social interactions by offering dating advice, conversation starters, and personalised recommendations. CEO George Arison emphasises the competitive urgency of embracing AI, introducing the concept of a "Grindr wingman" for improved user experiences. However, privacy concerns arise, with Arison assuring stringent measures for data protection. The move aligns with a broader industry trend, as seen with Tinder's AI tools.
Weekly Poll ✅
Help choose what you would like to learn about on Wednesday for my weekly emerging tech showcase:
That’s all for the free version this week! If you have any organisations in mind that could benefit from learning about emerging technology, be sure to reach out. Educational workshops are one of many consulting services I offer.
DCA With Me 🤑
Dollar Cost Averaging is an investment strategy in which an investor regularly invests a fixed amount of money into a particular asset/asset class at regular intervals, regardless of its current market price. By doing so, the investor can reduce the impact of market volatility and potentially earn a better return over time. Motto = time IN the market beats trying to time the market
To experiment with this, I invest $50 NZD into a Digital Asset every week. Each week I will choose an asset that seems underpriced in the short term and has positive long-term potential. My timeframe is 3-5 years. I don’t give financial advice but if you want to follow along with me you can use my easycrypto.co.nz referral link to support this newsletter. Let’s dive into this week’s pick:
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