Whop Digest Week of Jan 10–16

Even though its been a slow month for sneakers, there has been plenty of action in the crypto, NFT, and technology space. Let’s dive into this week’s news.

CityDAO Discord attack

On Monday, a CityDAO Discord admin’s account was hacked by a third party. The hacker posted a fake “land drop” in the server, where they were able to collect 29.67 ETH ($95,000) from users who thought it was real. Shortly after the attack occurred, the official Twitter account posted a warning message telling people to refrain from participating. The hacked admin claims it was caused by a security flaw in Discord’s system, but the definitive reason is still unknown.

Yeezy 350 restock

After a slow start to the month, the Yeezy brand is back in action. On the 22nd, the 350 V2 “Blue Tint” is set to restock on sites such as Yeezy Supply, Foot Locker, and various Tier 0 retailers. This colorway was initially released on December 16th, 2017, just over four years ago. After its initial release, the price was hovering around ~$350, and it recently hit its all-time high of $518 on StockX in early 2021. Because of its longstanding history and classic SPLY-350 branding, this shoe will undoubtedly yield some profit on the secondary market.

Netflix price increases

The video streaming service has been one of the largest and most powerful in the space for years. When someone mentions video streaming, Netflix instantly comes to mind. The company has decided to raise its prices across all subscriptions to increase revenue and “offer a wide variety of quality entertainment options.” The basic plan is now $9.99 per month (a $1 increase), and the premium plan is now $19.99 (a $2 increase). Since new signups have slowed down a bit and other media giants such as Disney Plus have entered the arena, Netflix will need to find ways to innovate its way to the top.

Virgin Orbit launch

On Thursday, the aeronautics company successfully launched seven small satellites into orbit. Virgin Orbit’s stock had just become publicly tradable on the NASDAQ last week after a merger with a special purpose acquisition company. Aboard the launch were three Department of Defense satellites and three satellites from third-party companies. Unlike traditional rocket launches, Virgin Orbit uses a Boeing 747 to take the LauncherOne up to ~35,000 feet, where it is then released, and the main engine ignites to take itself to its final destination on Earth’s orbit. The company is planning to execute six launches this year.

Walmart NFTs

The retailer giant, known amongst the reselling community for its high supply of PS5s, is making plans for the metaverse. Filings with the U.S. Patent and Trademark offices from December illustrate the company’s intentions to sell virtual goods. They applied for a patent on a financial exchange for virtual currency and advertising under its Walmart Connect division, as well as applications for the terms “Verse to Home,” “Verse to Store,” and “Verse to Curb.” The end product of Walmarts endeavors is anyone’s best guess, but it will be interesting to see how such a “traditional” company will choose to integrate with Web3. Walmart CFO Brett Biggs had previously said the company would consider allowing consumers to pay in crypto if the demand was there.

Kim Kardashian sued

A collective of investors is suing Floyd Mayweather Jr, Paul Pierce, and Kim Kardashian over allegations that they worked with the company EtherumMax to misleadingly sell its token. The suit claims the company operated a “pump and dump” scheme to artificially inflate the asset’s price to then sell at a hefty profit. The company denies all claims and believes they are not in the wrong. After Kim Kardashian posted about the EtherumMax token on social media, its value increased by over 1300% more than its original price.

The Yeezy drop this Saturday will be the biggest by far, but there should be some more console restocks nonetheless.

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