What I Learned This Past Week - 11.8.22
Buckle up, things just went from bad to worse in the cryptosphere
I’m sharing with whoever’s interested in what I learn as I try to remain clear-eyed about the opportunities for real estate and web3.
Did I miss important news or a great article this week? In the likely event I did, please shoot me an email (mark@hurstx.com) and let me know!
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This Week’s Musings
Just when I thought we have entered a period of web3 calmness, boom, the second biggest (and fastest growing) crypto exchange has a liquidity crisis. This time its high flying FTX. I’m sure a few books, movies, and MBA case studies will be written about this and I’m equally sure we only have a small glimpse into what has gone down. I won’t fein to deeply understand everything that has gone down in the last 48 hours (you can read more here from Bloomberg) into what went down, but the TLDR version is:
Binance starts a rumor (supported by leaked financials)
Binance makes a threat
Binance
buyshas offered to buy its biggest competitor (and former investment)
Overnight we are now down to one dominant centralized crypto exchange and there is little to no regulatory oversight. Expect a lot more to come to light over the next couple of months.
On a positive note, tomorrow my Proptech Espresso podcast episode with Vernon J of EquityCoin drops. You don’t want to miss this discussion of how Vernon and his team are addressing affordable housing by creating opportunities for communities to invest in local properties.
Informative Articles I Read
Using NFTs in Real Estate - What’s Real and What’s Not (First American Title) - Great piece here. Really revealing how innovation in real estate web3 sometimes doesn’t actually achieve the desired results of cheaper, faster, and more convenient. A step in the right direction? Yes, but not the ultimate destination we are striving for.
Is Alameda Research Insolvent? (Dirty Bubble Media) - I love this graphic! Everything goes in a circle, nothing wrong with that right???
Podcasts/Events/Webinars/etc. That I Listened To
Can real estate & Web3 ever work? – Roofstock’s Sanjay Raghavan (invezz) - Get insights into the 10 month process that Roofstock underwent to successfully complete this NFT sale.
How Cryptocurrency Will Impact Real Estate Financing (NAR) - Josip Rupena Founder & CEO of Milo was a great guest. Looks like the recording isn’t available yet but I will post as soon as it is available.
Innovative Companies I Discovered
ProprHome - Portugal’s first real estate marketplace powered by blockchain.
People You Need To Follow On LinkedIn
Will Leatherman - CMO of Parcl
Justin Lischak Earley - Chief Innovation Underwriter at First American Title
Web3 Announcements From Proptech Companies
Ripple announces partnership with ProprHome: the real estate revolution (the Cryptonomist) - ProprHome will use Ripple’s XRP ledger to mint NFTs to enable people in Portugal to buy, sell, and rent property.
Random But Important Things I Stumbled On
Virtual Ozzfest (Ozzfest.com) - Ozzy, Megadeth, Motorhead, and Skid Row all in the metaverse at the same time? Mindblowing.
Divisions in Sam Bankman-Fried’s Crypto Empire Blur on His Trading Titan Alameda’s Balance Sheet (CoinDesk) - The piece which started the latest crypto exchange meltdown.