Good morning, lovely DailyCoiners,Did you spend the weekend in full Super Bowl mode 🏈or enjoying some pre-spring sunshine? ☀️ Wherever you are and whatever you're doing, I hope you feel refreshed and ready to take on another week.Let’s kick off the week with these two stories:

• DigiDaigaku’s Super Bowl Ad Backfires

• UAE Plans to Enter the CBDC Race

Face Palm for DigiDaigaku’s 🤦

While there were no crypto ads during the Super Bowl this year, there was one for an NFT-powered game: DigiDaigaku.The premise for the ad (which cost the game creators, Limit Break, a whopping $6.5 million!) was simple.Advertise the game with a QR code that viewers could scan. Then, direct them to a website where they could mint a free NFT.But...Things didn’t go quite according to plan.

Many viewers took to social media to complain about the QR code taking them to...The Twitter profile of Limit Break’s CEO: Gabriel Leydon.

If that wasn’t enough egg in the face, some eagle-eyed users noticed that Mr. Leydon tweeted out the mint link before the ad ran. 

Oops!

It gets worse, though! Following the ad's airing, scammers jumped on the confusion bandwagon, and many phishing URLs began popping up to prey on potential crypto newbies.The elusive free NFTs have been selling for as much as $750, as of publishing time. 🤯

The CBDC Tide Rises as UAE Joins In 

Central bank digital currencies (CBDC) seem to be all the rage at the moment, with more and more countries making plans to launch digital versions of their native money.The central bank of the United Arab Emirates (UAE) is the most recent to unveil its plans to launch a CBDC, joining the UK, China, The European Union, Sweden, and many others.Why right now?The use of physical cash has declined in recent years, and the rise of cryptocurrencies has siphoned more money away from fiat currencies, threatening the role of central banks.Basically, they’re worried about losing control!

What are the Benefits of CBDCs?

• Faster, cheaper transactions and cross-border transfers.

• Potential for the unbanked to gain access to central bank funds.

• A theoretical reduced risk of losing money when commercial banks collapse.

• The hope of reduced criminal activity since all transactions would be recorded on a digital ledger.

Sounds promising, but there is also another side to the pancake...🥞

So, what are the not-so-great things CBDCs?

• Anonymity will be a thing of the past. (Basically, the opposite of crypto.)

• Abuse of power. Imagine a world in which someone (like a government) could say  "no, you can't buy a plane ticket" or "You can ONLY buy this brand of phone." Not great.

Could be just me, but I am getting some wild Black-Mirror-esque vibes!

It's hard to say where things will end up with CBDCs, but with so many countries testing the waters some big shifts are almost certain. Shifts in which direction? Only time will tell.  

Ok, time for something a little less scary.

DailyCoin Daily Meme

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SEC to Sue Paxos Over BUSD, Ordered to Stop Issuance

As per the Wall Street Journal report, the SEC alleges that the BUSD is unregistered security. Binance and Paxos partnered to...

I think we'll leave it there for today, hopefully, there will be much more lighthearted news tomorrow!

However, if you're a glutton for punishment, there's always more on 

our website

.

See you next week!