Reddit NFTs Show People Like Crypto When They Don’t Know It’s Crypto

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 26 October 2022

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This episode is sponsored by Nexo.io, Circle and FTX US. On today’s episode, NLW looks into how different pre-Web3 tech companies are getting involved with Web3. Specifically, he looks at how Reddit non-fungible tokens (NFT) are lighting up the Reddit community, and how Apple’s new terms might be problematic for Web3 game developers. He also catches up on news that pro-crypto Rishi Sunak will be the next British Prime Minister. - Nexo Pro allows you to trade on the spot and futures markets with a 50% discount on fees. You always get the best possible prices from all the available liquidity sources and can earn interest or borrow funds as you wait for your next trade. Get started today on pro.nexo.io. - Circle, the sole issuer of the trusted and reliable stablecoin USDC, is our sponsor for today’s show. USDC is a fast, cost-effective solution for global payments at internet speeds. Learn how businesses are taking advantage of these opportunities at Circle’s USDC Hub for Businesses. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsors today is “War” by Enoch Yang. Image credit: Horacio Villalobos/Corbis/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.2	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:15.0	The breakdown is sponsored by nexo.io, circle, and FtX, and produced and distributed by CoinDesk.
0:22.8	What's going on, guys? It is Tuesday, October 25th, and today we are checking in with Web 1 and Web 2
0:28.3	and what they're doing in Web 3. Before we get into that, however, if you are enjoying the breakdown,
0:33.5	please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to
0:41.6	bit.ly slash breakdown pod. Also a disclosure, as always, in addition to them being a sponsor of the show,
0:47.4	I also work with FTX. All right, guys, well, yesterday we got primed on the macro scene to kick off the week. We discussed Bank
0:56.1	of Japan interventions into their currency markets, the first for decades, and whether they held a
1:01.5	warning signal for U.S. Treasury markets. Today, we're going to be talking a little bit more on
1:06.6	the crypto side, although we start with an update on a story that blends macro and crypto.
1:11.2	I've been following the turmoil in the UK political scene on this show, and last week I argued
1:16.3	that I thought that Liz Truss' ineligent, inauspicious early exit from the prime minister
1:21.5	role was in many ways a casualty of the larger economic and geopolitical environment.
1:26.5	The trust government put forward a controversial
1:28.7	tax cut and spending package, which was viewed as a catalyst for recent dysfunction in the
1:33.3	UK bond market. Of course, the reason it landed so poorly was the context into which it was
1:38.9	proposed. That is, a Britain that's facing incredibly high inflation, hugely problematic energy prices,
1:45.4	and a scary-looking winter to come. Anyway, where we left that story was with the UK
1:50.0	Conservative Party racing to figure out who would replace her. Boris Johnson had suggested
1:54.8	that he might try for a comeback, but on Sunday bowed out once again. That effectively
1:59.4	left just two candidates, and by Monday it was down
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Blockworks, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Blockworks and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.