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Hey Tea Sippers 👋,
Another Friday is another day to get better. Happy Friday! :) Don’t forget to take that walk and get some fresh air. Big news hit the big stage as grice prices have fallen below a $4.00 average nationally.
In other news, Mark Cuban is undergoing huge scrutiny for partaking in the Voyager Ponzi scheme.
Lastly, Coinbase recorded record low earnings for the quarter… missing revenue projection by 6.92% shooting the stock price down.
Well, I am going to send you off. We hope that you enjoy the stories we have for you today. Grab your tea and start sipping!
Cheers! ☕️
1. Paris Hilton is selling NFTS and holding virtual parties on a Metaverse platform called the sandbox.
The metaverse is a concept many people still don’t understand and are failing to understand. If it will succeed is all up to your perspective and views, but what exactly is the metaverse? Many people say “Ready Player 1” is the best example of the metaverse. A dystopian reality with a utopian play-to-earn virtual reality. Meta seems to think it’s worth well… their whole comapny.
What is Paris doing here?
She is creating an immersive virtual world.
She is utilizing the land in the virtual world to sell merch.
In the future, she plans on hosting virtual rooftop parties and experiences in her virtual mansion.
Lastly, Hilton hosted a New Year’s Eve on Roblox with a DJ and a completely virtual experience. It was visited by over 500,000 fans.
With recent numbers reported by Roblox, that virtual gaming platform, they beat revenue projections by 2% for Q2. This provides an opportunity for individuals to support the idea that there may be a rise in the adoption of the metaverse.
The Sandbox World is also partnered with the likes of Adidas, Warner music group, and more.
The Big Gulp ☕️:
Looks like fans can travel, and they will for their favorite artists. Snoop Dogg also has a metaverse platform that has been attracting many of his fans. Hilton says her plan is for there to be a point where what occurs in real life is transferred over to your metaverse avatar, so if you purchase a shirt in real life, boom your metaverse avatar has it as well. Interesting… whether or not this will succeed, only time will tell, but as for now interesting developments are being made.
2. Biden signs a $280 billion chip and science bill.
This bill was signed for the greater good of the American society says President Biden. This was passed so that we can remain and become a more dominant power in the world while looking for other ways to advance in the future. Biden will give $52.7 billion in funding to semiconductors and upwards of $200 billion to scientific developments. Let’s dive in:
Semi-Conductors:
Are currently manufactured by China, which dominates over 70% of the space.
The US facilities will take 3-5 years to build.
Intel will begin construction on its Ohio plant this year and other major companies will follow suit with construction.
The Big Gulp ☕️:
The TL;DR is that the US was late to something, and this time it happened to be something rather important. Semiconductors are those chips that are used in your phones, electronics, artillery, and more. Rather than just ignore it they need to step on it before it is too late and another supply chain issue occurs. This is where the bill comes in handy. On the other hand, we have…
Science Research:
$81 Billion of the funds have been authorized to go to the National Science Foundation.
Their time will be allocated toward the creation of commercial products.
The NSF’s initial initiative began back in 2008 with the formation of a biotech firm called Gingo Bioworks.
The Big Gulp ☕️:
The TL;DR is that scientific research is being conducted in order to find ways to create mass productions of things like food, but also doing extensive research on cells ranging all the way to therapeutics. The future lies before us, and the US is taking every precaution to be prepared for any future storms to come.
Extra Tea ☕️
Steady- Inflation grew by 0% during the month of July.
Rising- Rent prices have risen to a national average of $2,000 per month.
Date- Ethereum is set to merge on September 15th or 16th.
Surpass- Disney+ passes Netflix for total streamers on the platform.
Tea Pods ☕️
If you have time, take a listen to this podcast by The Scoop, covering what many think may be the next innovation in the crypto space. Digital identity layers, formally known as “Web 5.”
Listen Here.
Sencha Tea Fact of the Week ☕️
“The US has issued sanctions on a virtual currency mixer called Tornado Cash.”
Since you made it this far!
If you or a friend know anyone interested in the space, feel free to recommend them.
Cheers!☕️