Shopify is launching NFT-gated storefronts for brands seeking ways to make their stores more exclusive. The non-fungible token gated stores include online and brick-and-motor locations, enabling shoppers to gain exclusive access to drops and collections. More: - The e-commerce platform is adding Web3 functionality to its platform, including DeFi, NFTs, and crypto.
- The addition of new technology and features is to help merchants derive new sources of revenue and build customer loyalty. The updates include:
- Token-gated commerce. The company explained that this feature "will be a way to reward true fans and VIPs, by giving NFT holders exclusive access to products, perks, and experiences."
- NFTs will link crypto wallets to stores on Shopify and give early access to drops and limited collections.
- To launch the token-gated shop, Shopify partnered with Adam Bomb Squad, Doodles, World of Women, Invisible Friends, Superplastic, Stapleverse, and Cool Cats.
- The company is also adding "IRL" token-gated brick-and-motor stores, which means that only NFT token holders can purchase select items at the physical stores.
Decrypt 
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Coinbase announced that it will discontinue trader-focused Coinbase Pro services by the end of 2022. The Pro feature will be replaced by the Advanced Trade feature to migrate similar services under one app. More: - The Pro service operates independently of Coinbase.com, while Advanced Trade is integrated into the main Coinbase app.
- The pro service offered lower fees to users that interacted with the Coinbase Exchange order book. However, Coinbase has decided to phase out this feature due to "friction and overlapping of features."
- The new Advanced Trade feature will replace Coinbase Pro as an alternative but still maintain similar perks with better functionality. It will offer in-depth technical analysis to users and advanced real-time order books.
- Coinbase has said it will keep the fee structure the same, as many Pro users used it because of the lower fees.
Decrypt
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Proshares Bitcoin ETF trading volume rose 380% on the second day of launch. After a slow first day of trading on the short Bitcoin ETF, the volume grew significantly on Tuesday. More: - The BITI exchange-traded fund gives investors the option to take short positions on Bitcoin without holding the cryptocurrency themselves. Shorting means taking a speculative view that the value of the asset will fall.
- ProShares had launched the BITI fund this week on Monday and traded 183,300 shares, which was less than 1% of the volume of $BITO. By Tuesday, the trading volumes climbed to 886,200 shares, worth about $36.2M.
- ProShares CEO Michael L. Sapir explained: "The reception that BITI is getting in the market affirms investor demand for a convenient and cost-effective ETF to potentially profit or hedge their cryptocurrency holdings when Bitcoin drops in value."
Coin Telegraph
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Binance CEO Changpeng Zhao predicts that it can take up to two years for Bitcoin to reach the $70,000 mark. Zhao believes that it can take anywhere from a few months to a few years for bitcoin to reach high levels again, and big crypto projects will likely survive the bear markets. More: - He reaffirmed his optimistic views on the crypto industry, saying that the high volatility is normal, crypto is a new industry, and price fluctuations are expected.
- Most people view Bitcoin's price at $20,000 as "very low," but the digital asset has progressed significantly within a few years. For instance, "in 2018, 2019, if you told people bitcoin will be $20,000 in 2022, they would be very happy. In 2018/19, Bitcoin was $3,000, $6,000," he says.
- Zhao remains optimistic about Bitcoin's future and believes that it will surpass the $70,000 mark; however, it can take a few years to get there, but "No one can predict the future."
- Large crypto projects will likely survive in this environment; however, the smaller projects that joined the bull market may face many challenges.
Zoom Out: - Binance will also announce a new pricing model for its U.S.-based division. The company will offer zero fees for four Bitcoin trading pairs, including BTC/USD, BTC/USDT, BTC/USDC, and BTC/BUSD.
- The aim is to change the way that the crypto industry approaches trading costs and make crypto more accessible.
- Reducing fees also deduct the company's revenue stream, but if users adapt to this new pricing model, the company will introduce this policy to other assets on the platform.
- The lost revenue will not greatly impact the company because it has over 100 digital assets that still charge a fee.
- Following the news, Coinbase shares dropped by 10%, and Robinhood's shares declined by 1%.
Crypto Potato
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Polygon rose 27% in 24 hours, turning a week-over-week loss into a 15% gain. Polygon's price was $2.92 on Dec. 27, 2021, and since has dropped by 80% in 2022, but it recovered to $0.50 today. More: - The bullish returns are due to its commitment to environmental sustainability. Polygon achieved carbon neutrality practices, which has led to investor confidence.
- Polygon is becoming carbon negative by establishing a partnership with KimaDAO, issuing $400,000 in carbon credits representing 104,794 tonnes of greenhouse gases.
- Some experts predict that the token price will climb to the $0.73 level.
- The company's MATIC is the native cryptocurrency that powers the Polygon Network on a layer 2 solution.
Live Mint
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Billy Markus, founder of Dogecoin, says that the price of DOGE will never again reach $0.74. The founder said that the memecoin will never return to its all-time high and marked 2021 as just a "weird year." More: - Holders of the coin are still optimistic about Dogecoin's future, citing Elon Musk's support behind the memecoin. The founder replied to a tweet by saying: "(Dogecoin) might never see [$0.74] again. 2021 was a weird f#cking year, and Dogecoin was swept up in the dystopia.
- He shared his pessimistic views for the future of dogecoin after the token lost 91% of its value during the crypto sell-off period.
- Markus condemns all comments that state that the project is a "pyramid scheme" and reiterates investor interest in the coin but only when the prices are high.
- Musk remains optimistic about the future of the memecoin despite being slammed with a $258B lawsuit.
- Musk supports using Dogecoin payments for Tesla merchandise and perhaps even SpaceX, and said: "I intend to personally support Dogecoin because I just know a lot of people who are not that wealthy who have encouraged me to buy and support Dogecoin — so I'm responding to those people."
Fx Street
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 |  | Gia Mattu is based in Calgary, Alberta. She is an entrepreneur with experience in climate technology, drones, AI, machine learning, and blockchain technology. When she's not working, she loves to hike the Canadian Rockies, try new cuisine, and travel. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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