📜 The crypto Constitution

Warm up the gaming chair... Nvidia makes graphics cards for everything from laptops to gaming consoles, including Nintendo’s Switch. America's most valuable chip company just reached new horizons: Nvidia scored another quarter of record sales, raking in $7.1B as demand for its gaming and server chips boomed.

• Gaming revenue, which makes up nearly half of Nvidia's sales, surged 42% from last year as Nvidia powered hit games like Marvel’s Guardians of the Galaxy.
• Data center revenue surged 55% as the eservices boom continued. Nvidia powers half the world’s servers, touting customers like Microsoft and Amazon.
• The global chip shortage could last into 2023, but Nvidia said it’s securing long-term supply deals to avoid major issues.

Metamorphosis... Like Facebook, Microsoft, Roblox, and other tech titans, Nvidia is turning its focus to the metaverse. While the metaverse concept is still vague, many describe it as a 3D internet you live inside. Adding to the confusion, Nvidia's version of the metaverse is called "Omniverse."

• Omniverse Enterprise: Nvidia's new subscription service lets creators, designers, researchers, and engineers collaborate in a shared virtual space.
• For example: BMW is using Omniverse to build factories by simulating its manufacturing plants. Interior designers could virtually "stage" houses inside 3D models.
• Nvidia also launched Omniverse Avatar, a platform for making AI assistants that could help with billions of daily customer service tasks.

Your move, Nicolas Cage… Why steal the Constitution when you can buy it? Yesterday, a decentralized autonomous organization (DAO) called ConstitutionDAO bid on one of the 13 remaining copies of the US Constitution in a Sotheby’s auction. DAOs (rhymes with “cows”) are blockchain-based communities that are collectively owned by their members — read: no central leadership. ConstitutionDAO launched eight days ago as a 10-person Twitter convo, and has since attracted thousands of people on Discord:

• ConstitutionDAO crowdsourced $47M worth of Ether from 7K+ online contributors in an attempt to buy the 234-year-old document, which Sotheby’s sold last night for a record $47.4M. Drumroll...
• ConsitutionDAO lost the bid, and said it'll provide contributors the option for a refund. FYI: Contributors wouldn't have owned a piece of the Constitution anyway — but they would've been able to vote on where to put it (think: a museum).

From James Madison to the Wu-Tang Clan… Crypto enthusiasts have used DAOs to raise millions since 2016, when an org called The DAO (capital T) raised $150M and lost much of it to hackers. Despite valid security and practicality concerns, DAOs boomed this year: PleasrDAO bought a Snowden NFT for $5.4M and a Wu-Tang Clan album for $4M. Wyoming became the first US state to recognize DAOs as legal corporate structures in June, and experts expect legal recognition to expand.

• F150: Ford is teaming up with chip manufacturer GlobalFoundries to boost supplies, after having to halt car production at some plants this summer due to the chip shortage.
• iCare: Apple is reportedly pushing to launch its electric self-driving car (feat. no steering wheel) as soon as 2025, seven years after starting the project.
• Scrolled: Attorney generals launched a probe into Instagram's effects on children, escalating scrutiny over Facebook’s potential harm to young users.
• Closed: CVS plans to shutter 900 stores over the next three years and shift its focus to digital as more of its customers shop online.
• Jordans: Roblox and Nike teamed up to create “Nikeland,” a free virtual world where gamers can dress their avatars in Nike swag while playing mini-games.
• Conference: Cisco shares sank nearly 6% after the IT hardware maker missed quarterly sales expectations and cited pressure from higher costs.

• Earnings expected from Foot Locker

Authors of this Snacks own: CVS, Pfizer, Amazon, Apple, Microsoft, Google, Starbucks, Twitter, and some Ethereum

ID: 1929117