Coolest thing I saw on chain this week was a lender giving a stranger a $35,000 loan at 12% APR using a Patek Phillipe as collateral
Borrower sent the watch to an escrow company who then sent back an NFT that represents ownership of the watch
Borrower then listed the NFT on Arcade, accepted the best loan offer on it, and then the NFT was transferred to an escrow wallet until the term is up or the borrower repays
The only way to get the watch back is by burning the NFT so if the borrower defaults the lender can claim the watch
Lender doesn't even have to know the borrowers name, they just have to know that they are the rightful owner of the watch - which is what the NFT does
Sure, you can just go get a loan at your local pawnshop, but tapping into global liquidity versus local liquidity will always eventually land you at the best rate (This market is young so we aren't there yet)
Just the tip of the iceberg for whats to come for proving ownership of Real World Assets using NFTs
Beijing released a Whitepaper on Web3 and the Metaverse this week.
Hong Kong mandates that $AXS is one of only 16 tokens traded in the country.
Things are percolating. In ASIA.
1. Why Is Free Speech Seemingly Under Attack Across Ireland, UK, Europe & Even Globally Due To Proposed Hate Speech Laws ?
It’s almost as if countries are once again in lockstep.
New 🧵 1/17
Both @tether and @tusdio has issued offshore Chinese Yuan deployed on #TRON. CNHT and TCNH will boost the next bull run of crypto. Few understand. 🇨🇳 https://t.co/PrVuzx72j4
Update on the Metam*sk/Infura controversy:
Their parent (Consensys) says they have never/won't sell data (what about share?), will aim for 7-day data retention, and promise a "comprehensive redesign" of their privacy policy.
Good start, but keep going.
https://t.co/Rspj5FOxze
Netherlands Police are using heavy machinery to tip over tractors with farmers INSIDE of them. When protesters peacefully stand against the machines, the police drag them into black vans. Shocking Chinese style protest enforcement in a supposed western liberal-democracy.
Ask the people protesting now in China if they prefer a society with unfettered Free Speech or whether they think it better that someone in authority decides for them which speech is allowed.
Our freedoms allow you to question your liberties, but don’t try to take away mine!
Propaganda has convinced fiatbros that an economy is like an engine that can overheat spontaneously, and that causes inflation, not monetary policy.
Anyone who uses the term "overheating economy" is a Keynesian whose brain serves no purpose but propagating inflation apologia.
Starlink has been told by some governments (not Ukraine) to block Russian news sources. We will not do so unless at gunpoint.
Sorry to be a free speech absolutist.
Hooo boy, you guys are gonna love this!!! 😊
A little video leak of concept art and testing 🏍🌬️
*Not necessarily representative of final graphics*
#axiebuilders#web3#p2e#axiewarkart#axie