New Markets & New Milestones

Good morning. Or should we say Guten Morgen, as German banks will be voting in 2022 to provide direct access to crypto for their customers. More on that story below, but we've also got Bitcoin mining milestones, Nike collabs, and more!

What this is:
A "Top 5" of crypto, digital asset, and other blockchain related news sent to your inbox on a daily basis

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Top 5:

1. German Savings Banks Weigh Vote to Launch Bitcoin, Ethereum Trading Services: Report
German news reports that savings banks in the country, called Sparkassen, are working on a project to offer crypto trading services to their customers. The project will go to a vote early next year. If the project is approved, all 370 Sparkassen would be allowed, but not required, to offer crypto trading services to their approximately 50 million customers with a combined total of around $1.4 trillion in assets under management at the banks. The report also indicates that customers would be able to purchase cryptocurrencies directly from their checking accounts without the need for additional verifications.

2. Bitcoin Touches New Milestone With 90% of Total Supply Mined
On Monday morning, Bitcoin crossed the 90% threshold in terms of total supply mined. It took 12 years to reach this mark, but its estimated that it will take until February of 2140 to mine the final 10%, given Bitcoin network activity forecasts and the halving schedule. Of the 18.89 million bitcoin currently mined, 1 million sit untouched in Satoshi Nakamoto's wallet and another 3.7 million are thought to be lost for good.

3. Sportswear Giant Nike Purchases NFT Fashion and Collectibles Startup RTFKT
Nike is jumping into the NFT space with the acquisition of RTFKT, an NFT fashion and collectibles firm started in 2020. The firm is best known for an NFT and physical shoe launch that was inspired by the CryptoPunks NFT collection (see the tweet below). This acquisition follows moves by rival adidas who partnered with the Bored Ape Yacht Club NFT collection to launch adidas branded NFTs earlier this year.

4. Twitch Co-Founder Justin Kan Launches Gaming NFT Marketplace on Solana
A new NFT marketplace tailored to the gaming industry is being launched on the Solana blockchain. The new company, called Fractal, will serve as a platform to buy NFTs directly from gaming companies that can then be used by players in-game. There will also be a secondary market for peer-to-peer trading and resale. Fractal says it chose to launch first on Solana as it is looking to sell a high volume of assets and the network's low costs and high transaction speeds were appealing.

5. Metaverse Company InfiniteWorld to Go Public in $700M SPAC Merger
InfiniteWorld, a company that helps brands create NFTs and digital assets, is going public in a merger with a special purpose acquisition company (SPAC). The new entity will be valued at $700 million and trade on the Nasdaq under the ticker JPG. The firm has partnered with 75 brands and creators already and expects the deal to help the company expand their platform capabilities and build new brand partnerships.

Top Sharers of the Crypto Top 5:
1. Cameron S. - New York, NY
2. Jake Y. - Greenville, SC
3. Lauren A. - Nashville, TN

Disclaimer: The information contained in this newsletter shall not be understood or construed as financial advice. I am not an attorney, accountant or financial advisor, nor am I holding myself out to be, and the information provided is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation.