Sea Me Drive By

Blubber Notes #88

Dear Future Whales,

In today's note, I'll provide a comprehensive game review of the recently launched RAICERS title, which went live yesterday. With tax season looming, I'll also share a podcast featuring best practices and helpful reminders for maintaining a favorable relationship with the IRS. Lastly, I'll highlight my new favorite resource on X.com for breaking down developments in the world of Web3. Let's dive in!

Source: DALL-E 3

Summary:

• Game Review: RAICERS

• Timely Podcast: Crypto & Taxes

• The Top Web3 Resource on X.com

🏁Game Review: RAICERS

The Alpha version of Futureverse’s RAICERS title is out. After 50 plus races, let me give you my take.

• What is it?

  • RAICERS is a racing game where players assemble their RACIER karts with a variety of accessories. Additionally, the karts are driven by playful ASM AIFA characters and can be enabled to drive on their own by incorporating your choice of ASM Brains. These AI agents race around various tracks to compete for prize amounts in the form of ASTO.

• • It's a true Play-to-Earn experience - Assemble the optimal winning combination of kart, character, and brain to excel on tracks that best suit your strengths, and find yourself cleaning up on prize amounts.The more players who race toegther, the larger and deeper the prize pool.

• What I love:

  • RAICERS transforms us all into data scientists -The interface simplifies the process of identifying which combinations are yielding the most success. Once you discover a winning combo, doubling down ensures you keep winning, until you don't. You're pitted against other humans, each striving to find the ultimate winning combination. It's been an endlessly enjoyable journey unraveling the path to victory.

    

  • Watching the race is optional - For those who prefer to assemble as many races as possible without watching each one, you're not obligated to do so. Replays are readily available if necessary. However, if you choose to watch, the team ensured that it's easy to follow your individual racer throughout the event.

    

• What I’m worried about:

  • Scaling - We're all eagerly anticipating the Web3 gaming titles that will facilitate the onboarding of the next 100 million users. While this game is enjoyable, I don't believe it alone, along with its current requirements, can achieve this monumental task. To participate in the races, players need to download a launcher, which is straightforward. However, they also need to own a Kart, a Brain, and a character. Customizing Karts occurs outside of the game, involving additional steps and approvals, which could potentially deter some users.

• Summary: Despite the initial requirements to play, I still find the game enjoyable and believe it has the potential to attract collectors interested in AI-related gaming. This game is still in Alpha and longer-term, the Futureverse team will likely figure out a more efficient path for oboarding the next set of players.

🎧 Listen to: Crypto and Taxes with ExperityCPA

If you’re in the U.S., then you know that taxes are soon to be due. Make sure you’re prepared by checking out this week’s timely podcast from Web3 Deep Dive.

This is not tax advice, but below are a few reminders from the podcast to pay attention to:

1. Staking Rewards: Remember that staking rewards and airdrops are taxable events.

2. Trading Between Digital Assets: Even if you don’t convert your crypto to fiat currency but engage in trades between different digital assets, you're still liable to pay taxes on those transactions.

3. Wash Sale Rules: Unlike securities, wash sale rules do not apply to crypto tokens since they are considered property, not securities at present.

Source: podcasts.apple.com

👀 The Top Web3 Resource on X.com

Just a few weeks ago, I voiced my frustration about the dwindling number of podcasts, with some abruptly canceling their shows just before the market started to pique interest once more. So, where do I get new Web3 insights?

Schillerverse is my top recommendation, and it's not just because he invited me to his stream last Friday. Getting to know Schiller, it's clear he's tirelessly scouring platforms like x.com and Discord for insights, alpha, and the latest innovations in the space. I highly recommend giving him a follow and tuning in to a future stream.

Authored by Matt Bartlett, CAIA. Follow Matt on x.com @MattBartlettVE

NOT INVESTMENT ADVICE

Please note the author has invested in all NFT projects and Cryptocurrencies mentioned within this article. The Author own assets created by the Futureverse team and ecosystem.

Please note that SegMint may offer investments products that invest in the asset class(es) or industries included herein.

The information herein represents the opinion of the author(s), but not necessariy those of SegMint, and these opinions may change at any time and from time to time. Non-SegMint proprietary information contained herein has been obtained from sources believed to be reliable, but not guaranteed. Not intended to be a forecast of future events, a guarantee of future results or investment advice. Historical performance is not indicative of future results. Current data may differ from data quoted. Any graphs shown herein are for illustrative purposes only.

This is not an offer to buy or sell, or a recommendation to buy or sell any of the securities/financial instruments mentioned herein. The information herein represents the opinion of the author(s), but not necessarily those of SegMint, and these opinions may change at any time. Non-SegMint proprietary information contained herein has been obtained from sources believed to be reliable, but not guaranteed. Not intended to be a forecast of future events, a guarantee of future results or investment advice. Historical performance is not indicative of future results. Current data may differ from data quoted. Any graphs shown herein are for illustrative purposes only.

In consideration of the receipt of non-fungible tokens (“NFTs”) from SegMint, you represent, acknowledge, accept and agree that: you received the NFTs as a gift from SegMint. You did not pay any consideration, monetary or otherwise, for the NFTs.

The NFTs are not an investment. Rather, the NFTs are digital memorabilia intended solely for entertainment purposes. As entertainment memorabilia given to you as a gift, the NFTs have no value and are not intended by SegMint to ever have any value. Neither SegMint nor anyone else will take or not take any current or future action that is designed in any way to maintain the value of the NFTs, or to cause their value to grow or increase. You must not attempt to obtain an NFT from SegMint if you view it as an investment.

As a condition of receiving the NFTs, you shall hold the NFTs for your own personal benefit, and you shall not act, and are not acting, on behalf of any other person or entity; except that, if you are an affiliate of an entity or person whose relationship or affiliation you have made SegMint aware of prior to your receiving the NFT, and SegMint consents to your receiving an NFT, you may receive an NFT. You shall not sell, assign, alienate, lease, lend, fractionalize, re-gift, convey or transfer in any way the NFTs (or any interest therein) to any other person or entity, even an affiliate. Any sale, transfer, assignment, or other action covered in the preceding sentence shall be void. You must not attempt to obtain an NFT from SegMint if you plan to sell or transfer it. The above content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained in this email constitutes a solicitation, recommendation, endorsement, or offer by the Author or any third-party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.

Cryptocurrency is a digital representation of value that functions as a medium of exchange, a unit of account, or a store of value, but it does not have legal tender status. Cryptocurrencies are sometimes exchanged for U.S. dollars or other currencies around the world, but they are not generally backed or supported by any government or central bank. Their value is completely derived by market forces of supply and demand, and they are more volatile than traditional currencies. The value of cryptocurrency may be derived from the continued willingness of market participants to exchange fiat currency for cryptocurrency, which may result in the potential for permanent and total loss of value of a particular cryptocurrency should the market for that cryptocurrency disappear. Cryptocurrencies are not covered by either FDIC or SIPC insurance. Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange, and value of cryptocurrency.

Investing in cryptocurrencies comes with a number of risks, including volatile market price swings or flash crashes, market manipulation, and cybersecurity risks.  In addition, cryptocurrency markets and exchanges are not regulated with the same controls or customer protections available in equity, option, futures, or foreign exchange investing.  There is no assurance that a person who accepts a cryptocurrency as payment today will continue to do so in the future.

Investors should conduct extensive research into the legitimacy of each individual cryptocurrency, including its platform, before investing. The features, functions, characteristics, operation, use and other properties of the specific cryptocurrency may be complex, technical, or difficult to understand or evaluate. The cryptocurrency may be vulnerable to attacks on the security, integrity or operation, including attacks using computing power sufficient to overwhelm the normal operation of the cryptocurrency’s blockchain or other underlying technology. Some cryptocurrency transactions will be deemed to be made when recorded on a public ledger, which is not necessarily the date or time that a transaction may have been initiated.

·         Investors must have the financial ability, sophistication and willingness to bear the risks of an investment and a potential total loss of their entire investment in cryptocurrency.

·         An investment in cryptocurrency is not suitable or desirable for all investors.

·         Cryptocurrency has limited operating history or performance.

·         Fees and expenses associated with a cryptocurrency investment may be substantial.

There may be risks posed by the lack of regulation for cryptocurrencies and any future regulatory developments could affect the viability and expansion of the use of cryptocurrencies. Investors should conduct extensive research before investing in cryptocurrencies.

Information provided by SegMint is not intended to be, nor should it be construed as financial, tax or legal advice. It is not a recommendation to buy or sell an interest in cryptocurrencies.

All investing is subject to risk, including the possible loss of the money you invest. As with any investment strategy, there is no guarantee that investment objectives will be met and investors may lose money. Diversification does not ensure a profit or protect against a loss in a declining market. Past performance is no guarantee of future results.

All Content in this note is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in the email constitutes professional and/or financial advice, nor does any information in the note constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. The Author is not a fiduciary by virtue of any person’s use of or access to the Site or Content. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other Content on the Site before making any decisions based on such information or other Content. In exchange for having access to this newsletter, you agree not to hold the Author, its affiliates or any third-party service provider liable for any possible claim for damages arising from any decision you make based on information or other Content made available to you through the email.

INVESTMENT RISKS

There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, and money market funds involve risk of loss. Loss of principal is possible. Some high-risk investments may use leverage, which will accentuate gains & losses. Foreign investing involves special risks, including a greater volatility and political, economic and currency risks and differences in accounting methods. A security’s or a firm’s past investment performance is not a guarantee or predictor of future investment performance. NFTs are currently not considered a security, but in the event, they are, this newsletter will no longer continue to be distributed.

THIRD PARTY LINKED SITES

As a convenience to you, the Author may provide hyperlinks to web sites operated by third parties. When you select these hyperlinks, you will be leaving the Newsletter. Because Author has no control over such sites or their content, the Author is not responsible for the availability of such external sites or their content, and Author does not adopt, endorse or nor is responsible or liable for any such sites or content, including advertising, products or other materials, on or available through such sites or resources. Other web sites may provide links to the Site or Content with or without our authorization. Author does not endorse such sites and shall not be responsible or liable for any links from those sites to the Site or Content, or for any content, advertising, products or other materials available on or through such other sites, or any loss or damages incurred in connection therewith. Author may, in its sole discretion, block links to the Site and Content without prior notice.

YOUR USE OF THIRD-PARTY WEB SITES AND CONTENT, INCLUDING WITHOUT LIMITATION, YOUR USE OF ANY INFORMATION, DATA, ADVERTISING, PRODUCTS, OR OTHER MATERIALS ON OR AVAILABLE THROUGH SUCH WEB SITES, IS AT YOUR OWN RISK AND IS SUBJECT TO THEIR TERMS OF USE.TERMS OF USE.