2023-09-22

🎰 Tether's $420M Move: Betting on AI?

September 22, 2023

Good morning, beautiful people,Happy Hobbit day! (yes...it's a thing...honest!)

Ok, let's roll!

🎰 Tether's AI Gamble
🤝 Machiavelli Meets DAOs
🤑 Polygon's Pokemon Payday

🦾 Tether's Bold AI Move

Amidst the tidal wave of the AI market boom, Tether just surfed right to the front with a dazzling $420 million dip into Nvidia's H100 GPU pool.

This isn't just a casual splash; the GPU is hailed as the mermaid's song for AI aficionados, luring tech enthusiasts with its siren call of efficient data processing.We're listening! 🦻

On the sunny Wednesday of September 20, 2023, Tether threw down the gauntlet, securing these GPUs in a shrewd alliance with German bitcoin miner Northern Data.The result? Tether's pocket now jingles with a 20% stake in the mining behemoth.But there's more under the surface. Northern Data plans to don the hat of a cloud GPU supplier for budding AI startups.Now, that seems like a savvy move! 🏴‍☠️

Tether's mammoth move isn't just about riding the AI wave; it's a marriage of two tech titans, AI and blockchain.With blockchain donning the armor to fight deepfakes and AI-powered deception, the tech world awaits a symphony of innovation.

📖 Machiavelli's Web3 Guide, According to a16z

Can a 500-year-old political playbook be the golden ticket to fixing modern tech conundrums?

Venture capital firm Andreessen Horowitz (a16z) thinks so. In a recent blog post, a16z's Miles Jennings invokes the wisdom of Niccolò Machiavelli to steer decentralized governance away from potential icebergs.

At the heart of Jennings's blog is the essence of "The Prince," Machiavelli's timeless tome on the delicate dance of power. 💃🏽🔌🕺🏼First, to avoid a single ruling entity, Jennings urges DAOs to play pass-the-parcel with their decisions, relegating some to clients or third parties.I'm sure this is already done in many places...right? *Cough...Cardano...

Building on this foundation, Jennings recommends a two-house system akin to the U.S. Congress, to ensure checks and balances.And while the proof-of-personhood voting system sounds noble, Jennings warns it might not quash autocratic tendencies.

Keeping the leadership pot stirring, Jennings champions regular changes at the top, avoiding a stagnant power soup.Additionally, he hints at the hurdles community members face in token-based voting, given the financial leap required.

Concluding with a bang, Jennings suggests that DAOs deploy lockup mechanisms for stakeholders.The term "lockup" bothers me! 🤔Machiavelli would be intrigued!

💰 Polygon's Pokemon Boom Bags Big Bucks

Imagine stumbling upon a golden Charizard in your childhood Pokemon card collection.

Now, multiply that excitement, toss in a sprinkle of blockchain, and voilà: Polygon's overnight success story.The Polygon-based marketplace Courtyard.io, has made waves in the NFT sea with its latest offer: Pokemon trading card NFTs.Courtyard.io provides a service that enables anyone to tokenize and vault their collectibles. When a user buys a tokenized (NFT) version of a trading card, they can trade it in for a physical card.

This digital spin on the nostalgia-inducing trading cards we all know and love has redefined 'gotta catch 'em all.'Or buy them all in this case! 🙊Investors and enthusiasts alike were buzzing like a horde of Beedrills as they saw profits surge by a whopping 10x overnight!NFTs, already a hot potato in the digital world, get a spicy flavor boost when paired with fan-favorite Pokemon.Yeah, this does seem like a boss move TBF! 🤐Polygon and Courtyard.io are certainly the trainers of the hour, but the real question remains: Who managed to snag that holographic Mewtwo?