Azuki launches Physical Backed Token 🗡️

What The Heck Is Going On?

• Azuki launches Physical Backed Token 🗡️

• Bicycle Making Bored Ape Cards 🃏

• What The Meme?

Azuki launches Physical Backed Token 🗡️

Azuki shared that the first implementation of the PBT will use the BEAN Chip; a physical cryptographic chip that self-generates an asymmetric key pair. 

The PBT intends to enable decentralized authentication and tracking of the full ownership lineage of physical items, all completely on chain and without a centralized server, making it a trustless authentication.

Everyone is free to authenticate, verify, and build experiences on top of this technology.

Azuki believes that PBTs will unlock the use of physical goods to create digital experiences thereby, creating a new generation of storytelling and experiences. They believe holders can build collections for the digital & physical world, trade authenticated items, or participate in real-life quests.

Since the news of Azuki's launch of a Physical Backed Token, the project has become number one on OpenSea’s 24-hour trading volume rankings.

Bicycle Making Bored Ape Cards 🃏🐵

The card brand bought an Ape for about $187,000.

Now, they're looking to launch Bored Ape Yacht Club-themed playing cards.

As with many other Bored Ape-themed products, Bicycle’s upcoming playing cards are not the result of an official licensing agreement with Yuga Labs.

Instead, holders of the Ethereum NFTs are automatically granted permissive rights to create derivative artwork and products and even sell them to the public.

Bored Ape holders have used their owned artwork to create things like fast food restaurants, virtual bands, alcohol and marijuana packaging, toys, apparel, and more.

Bicycle specifically chose an Ape with a joker playing card in a helmet, one of just 2% of the 10,000 total that have that attribute.

What The Meme?

That's all folks!

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.