ConstitutionDAO, Crypto.com Arena & Bitcoin City
Volume 47.0 | From $45 million to $1 billion + A Conversation With
ConstitutionDAO: $45 million comes up short
Crypto.com Arena: $700 million comes up big
Purrfessor Cool Defines a DAO
A Conversation With…The Podcast 🎙On iTunes/Spotify
Together With Wynter 💸
investrly is at the intersection of financial education and opportunity, empowering you to invest early in your future. This week’s newsletter is brought to you in partnership with Wynter, a fully customizable market survey platform helping businesses connect to their exact target audience.
It’s been a wild period in what is becoming an endless cycle of rapid innovation in the cryptocurrency space. The past week alone, we saw the ConstitutionDAO, a Decentralized Autonomous Organization raise over $45 million in funds from more than 17,000 contributors in less than two weeks. We witnessed the renaming of the iconic Staples Center in Los Angeles to Crypto.com Arena in the wealthiest naming rights deal in history for a mere $700 million dollars. And not to be outdone, El Salvador announced a deal with Bitfinex to issue a $1 billion bitcoin bond to create “Bitcoin City.” This is all real and happening.
In an attempt to come together and purchase an original copy of the US Constitution, We The People took on a new look…DAO style. While the DAO’s final bid fell short and ultimately failed, it’s a pivotal moment to witness. Click the tweet to read a first-hand experience from Twitter user @SinaKian1:
With more time, better execution, and potentially bigger opportunities, the sky is the limit for what the next iteration of the concept may be able to purchase and/or achieve. Find out what a DAO is. (scroll down)
The iconic Staples Center is rebranding to Crypto.com Arena (officially on December 25th) in the wealthiest naming rights deal in history. $700 million for 20 years was the price to rename the Los Angeles arena that is home to the Lakers, Clippers, Kings, Sparks and endless grammy award-winning performers.
In the days since the deal was announced, the Crypto.com ($CRO) token has appreciated by more than 75% and added over $10 billion to the market value of Crypto.com. What seemed expensive to many, seemed cheap to us. Brands that spend on marketing are being rewarded by the market.
El Salvador is really taking to the Bitcoin idea: First, it was legal tender and using volcanic energy to mine. Now, the country has struck a deal to issue $1 billion worth of bitcoin bonds in partnership with Bitfinex. All of this to support the development of “Bitcoin City”, a city entirely powered by local geothermal energy from volcanoes. 🌋 What could possibly be next from El Salvador making giant moves on the biggest stage? Only time will tell, but we are certainly excited!
Term of the Week - DAO
We’d like you to meet Purrfessor Cool! He’s quite the educator and determined to make education cool again…
The Audio Series 🎙 Now on iTunes & Spotify!
This Wednesday, we will release Ep: 8 “A Conversation With” featuring Markets & Mayhem, a trader with a wealth of knowledge and vast experiences.
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📆 Wednesday, 12/1 @ 7PM ET: Max Scruffur
Next Wednesday, we welcome Max Scruffur, a leading crypto analyst. Join us live on Twitter Spaces to participate in the conversation and ask a question in real time!
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investrly is written weekly by Founder Michael Rippe, with edits and design by Chief Strategist Danny Bopp. Let a friend in on the gems we share by kindly passing our newsletter on and thank you for investing with us.