🗿 IMF on 'Banning Crypto'

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GM. It’s officially summer. Will this be the Summer of AI? And by AI, I mean Aperol Immediately 🍹

Today, we got Amazon tapping $100M for AI, Meta and Google kicking off the Music Wars (no Spotify/Apple??), and another institution going full crypto flip-flop.

☕ *knuckle cracks* Let’s get into it.

Today’s Specials:

No FOMO News  📰 : Banning crypto ‘may not be effective in the long run’ — IMF (make up your mind ppl lol)

No FOMO  🗿 : Behind Meta and Google’s AI Music Wars 🎶

AI Intel  🤖 : Amazon taps $100M AI Fund to compete w/ Microsoft, Google 💰

Weekend Alpha 👀 : Bitcoin Pops Over $30K. We’re Giving Away Cryptopunk #2672 🧭

Mining For Memes ⛏️ : Completely Distasteful (and Hilarious) Submarine Memes 🛥️

No FOMO News 📰

• Banning crypto ‘may not be effective in the long run’ — IMF (Cointelegraph)

• Crypto firm Ripple gets in-principle payments license in Singapore (CNBC)

• China Warns Citizens of Consequences for ‘Facilitating’ Crypto Trades (CryptoNews)

• Credit Agricole's CACEIS registers in France as crypto custody services provider (Reuters)

• Interest in Central Bank Digital Currencies Picks Up in Latin America and the Caribbean While Crypto Use Varies (IMF)

• Crypto Crackdown Cleared the Way for Fidelity-Backed Exchange and BlackRock’s Bitcoin ETF, Custodia CEO Says (Decrypt)

Behind Meta and Google’s AI Music Wars 🎶

In the battle for AI music supremacy, Meta and Google have unleashed their text-to-music AI models, MusicGen (Meta) and MusicLM (Google), respectively.

Early AI music adopters stand to make millions as creators. Here’s how.

Meta's MusicGen, an open-source rival to Google's MusicLM, is now available to the public (as of last week). Generative AI models use machine learning to generate short music clips based on text input. Here's what you need to know:

• MusicGen produces 15-second audio clips based on user descriptions, from '90s rock songs with electric guitar to 180bpm gabber tracks with microtonal synth leads.

• With Hugging Face, users can access a more advanced version of MusicGen, capable of generating clips up to 120 seconds and even recreating melodies from reference audio files.

• Unlike Google’s MusicLM, MusicGen allows users to use artist and song names in their prompts, although the results might not resemble the mentioned artists or tracks.

• Meta's paper argues that open research and access to AI models like MusicGen can level the playing field for musicians and producers, offering both amateurs and professionals useful tools.

• They claim MusicGen is superior to Google's MusicLM and other evaluated baselines (we agree they probably have a slight edge right now).

Both models have creative potential but can't produce fully-fledged tracks yet. However, they serve as valuable tools for generating ideas, inspiration, and royalty-free samples for musicians and producers.

TLDR; As the AI music wars continue, early adopters have an opportunity to harness these AI models to change the way we make music forever.

Those who learn how to navigate these tools first will be in high demand for decades to come.

AI Intel 🤖

• AWS is investing $100 million in generative A.I. center in race to keep up with Microsoft and Google (CNBC)

• Secret Invasion studio under fire for AI art says ‘no artists’ jobs’ were lost (The Verge)

• Today's AI models flunk EU's draft rules, study finds (Axios)

• FEC deadlocks on whether to govern deepfake campaign ads (Roll Call)

• Generative speech firm ElevenLabs raises $19M, launches tool to snuff out deepfakes (Biometric Update)

• YouTube is getting AI-powered dubbing (The Verge)

• US to launch working group on generative AI, address its risks (Reuters)

Weekend Alpha – What to Watch 👀

• Bitcoin pops above $30,000 as WisdomTree and Invesco join the bitcoin ETF rush

• Nike and Epic Games launch “Airphoria” with zero mention of NFTs. Start of a new era in digital entertainment?

• Meta and Google both have their AI music generator live – mastering these tools now could be like starting a Youtube channel in 2008 (more below)

• Binance Labs and CoinFund Lead $10 Million Funding Round for Cosmos Blockchain Neutron

Honorary mention: Congrats to the Beehiiv team (our newsletter tech provider) on raising $12.5m in their Series A this week.

The Lost Wallet 🧭

Yes, We’re Giving Away a $120,000 CryptoPunk.

First things first. Follow The Lost Wallet on Twitter to qualify. Takes two seconds!

This is not too good to be true. This is a real punk (#2672) in a verified wallet waiting to be unlocked. Right now, there are only about 1,000 people trying to win. I’d take those odds if I were you.

Mining for Memes ⛏️

We got Submarine Memes. Too soon? Yes. But we didn’t do these. Don’t shoot the messenger 😅

Bruh. I think betting for/against someone’s asphyxiation and pending doom in real-time my border sociopathy lol. Y’all need Jesus

I heard Cramer was bullish on OcenGate…

I’ve spent too much time in Miami the past three years to not throw this in here…

Shameless Shill + Alpha

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