Binance Under Scrutiny, Tweety Gets An NFT, and More!

Last week saw companies in the cryptoassets industry cut up to 10% of their staff, which is not a new phenomenon to bear markets in this industry. In a more hopeful turn of events, China’s scaling back its lockdown measures, possibly triggering NASDAQ100 and S&P500 to rise last week and providing a catalyst for risk assets, including cryptoassets, to follow suit. All eyes are on the US Consumer Price Index (CPI) report, coming out on June 10. May’s CPI report would provide the data necessary for the Federal Reserve to dictate how aggressive they will be with the next interest rate hike scheduled to take place in June.

Key Takeaways

• Proof-of-work mining subject to 2-year moratorium in New York City

• Bitcoin miners selling their holdings to cover cost

• Terra bridge V2 went live

• Ethereum’s first dress rehearsal for the merge

• Metaverse use case: a beer brewery

Weekly Returns

The returns of the top five cryptoassets over the last week were as follows — BTC (-1.54%), ETH (-4.31%), BNB (-8.11%), ADA(-3.6%), XRP (-5.09%).

Net Inflows per 21Shares ETP

The net outflows of our ETPs amounted to $6.75M in the past week. Find the breakdown of the inflows and outflows per ETP below.

Media Coverage

Our sixth edition of our State of Crypto report has been making waves across news outlets since last week. “One of the most consequential findings was that when comparing all return and risk measures across different rebalancing frequencies, they found that rebalancing quarterly provided the best trade-off for investors,” writes Coin Bureau. You can get a copy here.

In these coming few weeks some of our team members will be presenting on stage their theses on the cryptoassets industry. On June 13th, Leena ElDeeb will be in Lugano, Switzerland, for the MetaForum conference to talk about the use cases of Web 3 in geopolitical conflicts. Leena will also participate in a panel titled “Communicating in Web 3.”

On the other side of the word, Karim Abdelmawla will be in Dubai, UAE, for Wealth Today Summit on June 21, where he’ll participate in a panel titled “Family Offices Investing in Crypto: Next Steps.”

News

A Munich-based Brewery to Offer Voting Rights on Business Decisions via NFTs and a DAO

What happened?

Founded in February, MetaBrewSociety is planning to offer a range of tokenized “beer share” certificates that provide varying levels of governance rights over a physical brewery in Munich. They’re currently eying Sandbox to be their meta-location. By holding an NFT certificate, the holder is entitled to at least 100 free cans of beer per year; which helps fund the purchase and scaling of the brewery. Once the physical location has been purchased, the project will then form a DAO that will consist of the NFT holders who would then have the right to vote on business decisions of the brewery.

Why does it matter?

The benefit of the DAO is twofold:

1. plays an important role in the governance of the business
2. plays a key part in consumer research.

This unusual use case of DAOs and NFTs is living proof that Web 3 can help stimulate and modernize industries as old as time. Web 3 has a unique feature that distinguishes it from its other peers: creating dedicated communities and uniting them around one utility facilitated by a token. That being said, the MetaBrewSociety will use its brewery in the metaverse as a way to collect traction to its community and increase the exposure of the project while also acting as an online shop for its range of beers.

Research Newsletter

Each week the 21Shares Research team will publish our data-driven insights into the crypto asset world through this newsletter. Please direct any comments, questions, and words of feedback to research@21shares.com

Disclaimer

The information provided does not constitute a prospectus or other offering material and does not contain or constitute an offer to sell or a solicitation of any offer to buy securities in any jurisdiction. Some of the information published herein may contain forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those in the forward-looking statements as a result of various factors. The information contained herein may not be considered as economic, legal, tax or other advice and users are cautioned to base investment decisions or other decisions solely on the content hereof.