Nasdaq lists Ethereum Bitcoin ETN, and the wallstreet metaverse

over 2 years ago

The interest in cryptocurrencies continues to rise despite the high rate of volatility in the market. Investors simply can't get enough of it and that's probably why Nasdaq Sweden saw it fit to introduce cryptocurrency exchange-traded notes.

Crypto's rise to prominence has not come without controversies in different countries. The lack of regulation and closure of different central exchanges are fine examples of some of the issues that the market is facing.

The introduction of crypto ETN creates an enabling and safe environment for traditional investors to participate in the crypto market. The first two assets to get the nod and be listed on Nasdaq are Bitcoin and Ethereum.

It's only natural that the top two assets in the industry get the nod. However, as far as I'm concerned, they're only paving the way for more assets to get into the spotlight as well.

Anyway, the listing of Bitcoin and Ethereum as ETNs invariably exposes even more non-crypto people with the opportunity to access crypto. In this process, Bitcoin and Ethereum public exposure also increase.

According to Helena Wedin, European head of exchange-traded products at Nasdaq;

...exchange-traded notes allow one to invest in non-traditional assets while maintaining the transparency of a regulated market. She added, “We are happy to launch this new segment at Nasdaq Stockholm with 21Shares as the first issuer.” source

This news is coming at a time when many assets, including Bitcoin and Ethereum, took a hit in the market. All I'm saying is that there might be some short-term losses(if you sell) but in the long run, this is bullish for the industry.

Regulated crypto ETNs sound like a decent way to onboard more people into the industry. Hell, it's like the government's own version of dogecoin, only more serious and with fewer memes.

The gift that keeps on giving

The entire crypto market might be taking a beating in recent times and yeah, it has also affected my Splinterlands assets but overall, I'm still in the green.

As ETNs try to bring crypto investment opportunities to the masses, Splinterlands is taking steps to showcase blockchain games to the general public. This move has obviously not gone unnoticed.

Talking about Splinterlands in a Nasdaq Tv show is a pretty nice way to get people involved in crypto gaming. We've not yet even experienced the effect of this recent publicity, but in time, the network effect will, well, take effect.

Anyway, while we wait for the network effect, there's the little matter of the voucher airdrop that's starting tomorrow. Well, it depends on your time zone.

The airdrop is scheduled to start in about 12 hours, which is 7 am tomorrow morning for me. At the same time, Chaos legion packs will be opened as well.

The last time I saw people this excited about packs was when untamed packs were launched. Considering one untamed pack trades upwards of $50, I reckon it was a success.

As we get closer to opening Chaos legion packs, the price of individual packs has risen. At the time of writing, each pack costs approximately $11.

The excitement is at a fever pitch right now and investors just can't wait to get their hands on the monsters. These next generation of monsters will herald the expansion of the Splinterlands metaverse and add a new layer to the play2earn platform.