Quote of the Day

“I'm obsessed with zombies. I like watching zombie movies and I read zombie books.”

― Kevin Bacon

Almost everyone has heard of the parlor game called Six Degrees of Kevin Bacon where you try and link someone in Hollywood though their film roles to Kevin Bacon within six steps.

It’s a great game, especially for people who love movies. Last night when I asked people what their favorite Zombie movie was, I ended up down an IMDB rabbit hole that ended up with this Zombie quote.

Which brings me to the point - if Kevin Bacon likes Zombies, they must be cool.

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In The News

1. Everyone and their brother wants into the NFT space. Coinbase announced its peer-to-peer NFT Marketplace is coming soon and opened a waiting list for it.

   The marketplace will launch supporting Ethereum NFTs and the announcement comes just a day after FTX.US announced a Solana-based NFT marketplace.

2. There are lots of other folks moving beyond NFT marketplaces into more innovative and riskier offerings, such as Visionrare, a company trying to gamify the process of investing in startups.

   As the article points out, much of the innovation in the space is fraught with challenging problems and questions. But anytime there’s a challenge, there are innovative people out there looking to solve it.

Cardano Updates

1. Speaking of NFTs, the first million dollar sale of a Cardano NFT took place yesterday! The smart contract-based Space Buds marketplace has given new life to the most prominent NFT project on Cardano.

   SpaceBudzBot @spacebudzbot

   SOLD - SpaceBud #9936 was bought for 510000 $ADA spacebudz.io/explore/spaceb… #spacebudzsold

   

   October 12th 2021

   193 Retweets549 Likes

2. We updated our Zombie Chains logo and are going to be releasing a first look of a Zombie NFT over the coming days. The first look will come as part of a giveaway!

   Make sure to follow the Zombie Chains twitter account for what will likely be the best odds of winning a Zombie out of all of the giveaways that we will do. The early bird gets the worm.

Technical Analysis / Price Discussion

Cardano ADA isn’t doing anything very exciting right now. It’s consolidating and range-bound.

However! When I lay the Wave2 to Wave3 timeline and price action on top of the current price action (which I think is Wave4 to Wave5), it suggests that something exciting will happen soon.

Market conditions must allow for that to happen and I’m keeping my eyes out for the standard things I’ve been talking about for weeks now - smart contract adoption, Evergrande, regulation, etc.

I’ve adjusted my long-term trendline to white as it’s broken down on the daily. Fake-outs happen not just with short-term but long-term trendlines too, so I’m not too concerned about this for now.

This newsletter is for entertainment and educational purposes. I’m not a financial advisor and you should do your own research and consult a financial advisor before investing in cryptocurrencies.

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