In today’s briefing:
- Implication for Decentralized Exchange Amid the FTX Collapse – A Case of Uniswap
- Disney: Could Iger Sell to Apple?
- Disney Replaces Bob Chapek with Bob Iger – Will The Magic Return at Disney?
- The Commodity Report #78
- Sporting Crypto – Nov 21st: Nike Launch Web3 Platform Dot Swoosh
- Ready, Aim, Fire
- Markets Dip Lower as FTX Contagion Spreads
Implication for Decentralized Exchange Amid the FTX Collapse – A Case of Uniswap
- Despite Centralized exchanges (CEX) being unregulated and opaque in operation, over 90% of crypto transactions happened on CEXs.
- DeFi exchanges are transparent and impossible for appropriation, but gain market share very slowly due technically difficult of building on blockchain.
- Uniswap is the largest spot decentralized exchange that stands to benefit from capital relocation from CEX to DEX, Uniswap token is a pure governance token without value capture.
Disney: Could Iger Sell to Apple?
- The suprise return of Bob Iger as Disney CEO can fix certain Bob Chapek specific issues: relationships with investors, politicians, and creative types.
- But Iger faces similar intractable issues: accelerating cord cutting, a transition to a less profitable form of media distribution, and a potential recession.
- We think Iger will refocus investors on revenues/profits at Disney+ rather than subscribers, will more efficiently spend on content through decentralizing decision making… and potentially sell Disney to Apple.
Disney Replaces Bob Chapek with Bob Iger – Will The Magic Return at Disney?
- On 21 November, The Walt Disney Co announced that it has replaced the incumbent CEO Bob Chapek with Bob Iger who has successfully headed Disney previously for nearly 15 years.
- We believe this is a wonderful change and will have a huge impact in turning around Disney’s share price which is down nearly 50% from its peak in March 2021.
- The previous CEO Bob Chapek did not focus enough on delivery great contents. Rather, the company got involved too much in politics turning off millions of customers.
The Commodity Report #78
- The Rabobank issued a research note last week where they forecasted that prices for agricultural commodities like coffee, feed grains and oilseeds could dip next year as many major economies enter recession, but also stated that they will remain high in historical terms.
- We think the general call is correct, but the timing isn’t. We already see this dip move playing out at the moment.
- Just take a look at coffee, cotton, oil, or copper. We believe this dip in the long-term cyclical bull market will end towards Q2 of 2022 before the rally in many commodity markets resumes again as demand strikes back.
Sporting Crypto – Nov 21st: Nike Launch Web3 Platform Dot Swoosh
- The most successful mainstream brand in Web3 is without a doubt, Nike.
- That’s mostly thanks to their acquisition of NFT studio RTFKTin late 2021 for an undisclosed fee.
- Since then, Nike have generated almost $200m in revenue from digital products in primary and secondary sales.
Ready, Aim, Fire
- Since the boom in 2020, SPACs have been instrumental in taking high-risk, technologically disruptive companies public.
- This includes space startups building rockets focused on carrying payloads to space, Quantum Computing firms creating solutions for challenging tasks, and a host of Electric Vehicle Makers looking to challenge Tesla’s crown in building environmentally sound vehicles.
- Texas-based True Velocity Ammo, which develops and markets composite-case ammunition, aims to disrupt the highly mature ammunition industry on the same scale as these other emerging firms, delivering lighter and more efficient solutions to the public and military.
Markets Dip Lower as FTX Contagion Spreads
- Price Movements: DEX tokens have been least impacted by the market collapse while L1 tokens have been the worst performers, led by SOL.
- Market Liquidity: Uniswap v3 recorded one of its highest volume days ever, although both CEX and DEX volumes have since tumbled.
- Derivatives: Binance and Bybit captured FTX’s market share of perpetual futures since the exchange collapsed.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
