Google Allows NFTs in Play Store 🎮

GM. This is Degen Scoop. It’s Thursday, here’s the scoop:

• Google Allows NFTs in Play Store 🎮

• US Government Dumping Bitcoin 🇺🇸

• Silk Road Adviser Gets 20 Years in Prison ⛓️🧑⛓️

• Whale Moves 🐋

• Threads You CAN’T Miss 🧵

Google Will Allow Apps in Play Store to Offer NFTs

Google will be rolling out new guidelines for its Play Store that will allow apps to integrate NFTs. This is bullish for NFTs as well as any blockchain games that take advantage of this. In short, games that offer any sort of blockchain integration must make this clear to users but will otherwise be unobstructed. Since Apple doesn’t allow for NFTs, the Play Store will draw attention by GameFi devs.

While games can offer users NFTs, they will not be able to wager them or participate in any sort of sweepstakes. The easy workaround for this would be allow this sort of mechanism on-chain where it can’t be censored. Also, developers will not be allowed to offer NFT ‘bundles’ of any kind which we assume translates to any sort of loot boxes to be sold. The new changes are expected to roll out later this summer.

The US Government Set To Sell Nine Figures of Bitcoin

Yesterday, we saw a wallet controlled by the US government move ~$300M worth of Bitcoin. This stash likely comes from the funds seized from James Zhong, hacker of The Silk Road. This seizure saw $3B of Bitcoin get into the hands of the US government. We don’t know the exact date, but the govermnet is ready to dump when it sees fit.

The last sale from the US government happened in March where ~$200M of Bitcoin was sold. It was said they were prepared with another $1.1B worth. While this $300M of Bitcoin might not be sold just yet, it’s worth noting in case you have some levered longs that would be at risk of liquidation. Do take the proper precautions and act accordingly.

Roger Clark, Adviser to The Silk Road, Sentenced to 20 Years in Prison

For those unaware, The Silk Road was a marketplace where many goods (often illicit) could be traded and sold. Bitcoin was used to pay for items sold on the marketplace. This was crypto’s first major use case: uncensorable financial transactions. The Silk Road began in 2011 until it was shut down by law enforcement in 2013 due a massive amount of illegal actions facilitated by the website.

In the official notice, Roger Clark received 20 years in prison for “conspiring to distribute massive quantities of narcotics.” Clark was deemed a “central figure” by the defense in helping establish this illegal empire. Even Ross Ulbricht, the founder of The Silk Road, described Clark as a “mentor.” In addition to the 20 years, Clark was sentenced to three years of supervised release as well as a forfeiture of $1.6M.

Notable NFT Sales in the Last 24 Hours / Over the Weekend:

Notable Threads You May Have Missed:

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Conclusion

Touch grass, hit the gym, and don’t forget about what’s really important outside of magical internet coins.

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DISCLAIMER: This newsletter does not constitute financial advice. This is strictly educational and should not be used to make any financial decisions. Be responsible and do proper due diligence before aping.