NORN.xyz Newsletter Week 48
The Christmas season is here and in addition to sad news about (an expected) BlockFi bankruptcy we have some jollier things to share!
TL;DR
Yet another bankruptcy - BlockFi files for Chapter 11
Fidelity opens retail trading accounts for crypto
Norn.xyz launches Christmas calendar!
Porsche speeds into Web3
Swedish startup Logcast partners up with Spotify
Want to know how you sell your art as an NFT? Check our latest guide
BitBoy travels to the Bahamas in the search for SBF…
NBX x Norn x Arcane Crypto x Huddlestock in Oslo
Business & Markets
The next domino: crypto lender BlockFi files for Chapter 11
Like many of the failed CeFi companies this market cycle, crypto lender BlockFi has gone from a $3 billion dollar valuation to 0 over the past year.
In the process however, BlockFi is suing one of suing Sam Bankman-Frieds holding companies Emergent Fidelity Technologies. Emergent is owned solely by Sam Bankman-Fried and it owns a 7.2% stake in Robinhood, valued at $648 million dollars. Shockingly enough, Emergent is not a part of FTX’s bankruptcy filings…
Emergent pledged its Robinhood shares as collateral with BlockFi earlier in November, and has not met the payment schedule since.
The bankruptcy of BlockFi was expected by the industry, as they were heavily associated with FTX. As it turns out, BlockFi took so long to file its bankruptcy because they sold off about $239 million worth of crypto assets to fund the proceedings instead of taking a loan. GG BlockFi.
Fidelity launches retail bitcoin trading accounts
One of the biggest financial services firms globally has launched bitcoin trading accounts for retail investors.
Fidelity first began mining bitcoin in 2014 and launched a bitcoin-based ETF in Canada December last year.
Despite scrutiny, Fidelity continues to dive head first into crypto. A group of US Senators recently came out in their latest letter to criticize Fidelity:
“Fidelity Investments has opted to expand beyond traditional finance and delve into the highly unstable and increasingly risky digital asset market.”
Read more about Fidelity here.
Innovation & Launches
Norn.xyz launches Christmas calendar!
We will be revealing a new Nordic NFT creator every day from 1.12-24.12 with some Christmassy giveaways here and there. Be sure to follow norn.xyz on Instagram to take part in the jolliness 🎅🏻🧑🎄🎄
Porsche rallies into Web3 with 911 NFT collection
Despite the current market environment we’re seeing big players enter the space every week. Latest in line is Porsche with their 911 NFT Collection. It will involve 7500 customized art pieces of the 911 Porsche model. The NFTs will be launched in January 2023 at Porsches official NFT marketplace. Porsche revealed their Web3 plans at Art Basel in Miami earlier this week, and the project is now on everyones lips. Hold on tight, we have a feeling these 911s might go extra fast! 🏎💨
Swedish startup Logcast partners up with Spotify
In their latest newsletter Swedish startup Logcast announces a partnership with Spotify. Logcast is a new voice streaming platform where you can tokenize your thoughts. We met up with Logcast recently, read more about them here.
Guides & Tutorials
How to sell your art as an NFT
Are you an artist who wants to take your art to the next level? Then you are in luck. After having received several requests on how to sell art as NFTs, we have created a complete guide on how to go about it. Let’s dive in! Next week we will continue on the topic and help you price your art accordingly.
Research & Misc.
Everyone's “favorite” crypto influencer BitBoy went looking for SBF in the Bahamas
Is a half-shady crypto influencer gone vigilante what you imagine when you hear that citizen journalism is peaking?
Over the past week notorious crypto influencer Ben ”BitBoy” Armstrong traveled to the Bahamas to find Sam Bankman-Fried. While he didn’t manage to get in contact with Bankman-Fried, the saga offered some valuable entertainment.
BitBoy is notorious for promoting scams and dumping on his followers (as detailed by on-chain sleuth ZachXBT), but he did manage to call out Bankman-Fried prior to the FTX collapse.
While we do not recommend you to follow BitBoy for any financial advice, we like the content he produces from time-to-time.
Events
The future of digital finance in Oslo
Organized by NBX together with Norn, Arcane Crypto and Huddlestock we explore the future of innovation in finance live in Oslo on the 7th of December.
During the event you will hear from NBX CEO Stig Kjos-Mathiessen, Arcane Crypto CEO Torbjørn Bull, Huddlestock CEO John E. Skajem, Eva Liberg from Kvinner og investering and last but not least our Co-Founder Vahid Toosi.
For those of you who are in Oslo, sign up to the event here. We will share a Zoom link if that becomes available.