🗿 UK Lets AI Off the Hook

UK loses all plans to regulate AI ‘in the short term’

November 17, 2023

GM. Happy “let’s circle back after the holiday” szn. Markets still looking up as we question why an industry that set out to achieve total decentralization is now eagerly awaiting a BlackRock ETF to justify its existence. Anyway…

Without Further Ado. ☕ *knuckle cracks* ☕ Let’s get into it.

Today’s No FOMO is brought to you by… LVCIDIA x Ledger

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Today’s Specials:

Weekend Alpha: What to Watch 👀 : BlackRock Files For Spot ETH ETF 🚨

No FOMO 🗿 : Is Regulatory Capture Centralizing Crypto? 🤔

NFT Power Rankings 🔥 : All Hail Sappy Seals 🥇

No FOMO News 📰 : Crypto Lobbying On The Rise ⚖️

AI Intel 🤖 : UK Will Not Regulate AI 🆓

Max’s Gaming Corner 🎮 : State of Web3 Gaming 2023 📝

Weekend Alpha – What to Watch 👀

BlackRock files for spot Ethereum ETF to further crypto push, BTC price nears key $39K profit zone, Solana rallies 11% amid broader altcoin rally, crypto market showing signs of recovery as prices, NFT sales rise on the month, Net Capital Inflow for first time in 17 months.

Is Regulatory Capture Centralizing Crypto? 🤔

Crypto set out to free us from our institutional slaves. Now all we seem to care about is a Blackrock ETF to see prices come back. Why is that?

Image Courtesy of Bloomberg via Getty Images

Legendary VC Bill Gurley gave a compelling lecture on the issue of “regulatory capture” at the All-In Summit in LA this summer. He essentially lays out the harmful impact of lobbying on competition. And he has data to support his claims.

It’s exactly what Telecom providers did in the 90s, Facebook did with big tech, what Sam Altman wants to do with AI, and what Armstrong/Coinbase is doing with crypto. Regulate your way to domination.

I met someone recently who knows Sam Altman. He is on a sabbatical after a stellar tech career and hit Sam up for a job. He said, “we’re only really looking for non-technical people with government experience right now”.

It’s not hard to understand why – regulation is the fastest way to control the development of your industry and write the rules.

🔥 NFT Power Rankings 🔥

NFT Power Rankings (Below .5eth)

6. @jackbutcher Opepen 

No FOMO News 📰

Going Up High School GIF by Pudgy Penguins

  • Exclusive: Ledger Partners With FVCKRENDER to Launch Limited Edition Bundle (NFT Now)

  • Crypto lobby spending in US set to beat 2022 record: Report (Cointelegraph)

  • Crypto app Strike announces partnership with Checkout.com to enable Bitcoin purchases in more than 65 countries (Fortune)

  • WisdomTree amends S-1 form spot Bitcoin ETF filing as crypto awaits SEC decisions (Cointelegraph)

  • Mastercard Says Customers Are Too Comfortable With Today's Money for Adoption of CBDCs (CoinDesk)

  • Bitcoin Ordinals startup Taproot Wizards raises $7.5 million in seed round (The Block)

Max’s Gaming Corner 🎮

Our web3 gaming update, brought to you by Max Kaufman

Shoutout to the Game7 research team for publishing the 'State of Web3 Gaming 2023' report 🔥

61 pages of alpha that includes...

👾 Fundraising Analysis

👾 Regional Breakdowns

👾 Competitive Dynamics

👾 Blockchain Networks Overview

+ more

My biggest takeaways?

💰 Since 2018, there has been $19B invested into Web3 gaming-related projects

🎮 Most Web3 games are Free-to-Play (F2P)

🌏 The US and APAC regions make up 70%+ of Web3 game developers

🕹 Epic Games Store Web3 game listings have climbed to ~70 games

💥 Immutable has emerged as the most popular L2 gaming ecosystem, followed by The Arbitrum Foundation

🌐 App-chain networks accounted for 43% of the newly launched networks this year

AI Intel 🤖

  • These lawyers used ChatGPT to save time. They got fired and fined. (WashPost)

  • Microsoft launches AI chips as developers seek Nvidia alternatives (FT)

  • YouTube tests AI tool that clones pop stars' voices (BBC)

  • Meta introduces AI models for video generation, image editing (CT)

  • UK will refrain from regulating AI ‘in the short term’ (FT)

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