Robert Steinadler, 4 months ago
Buy the dip or the often-used acronym BTFD encourages investors to buy an asset while the price slumps down. The expectation is of course that the price is going to recover in a short time. Therefore, a dip is not a change in trend but rather a short-term correction during a bull market. It seems that in the US Chipotle took this expression literally and wants us all to buy the dip.
What has the restaurant to offer and how is it going to combine Mexican food with crypto?
Chipotle accepts 98 different cryptocurrencies in its restaurants, including Bitcoin, Ethereum, Solana, and Dogecoin. This is not the first contact with crypto since the company launched a program called “Burritos or Bitcoin” to celebrate the national Burrito day. The payment option is available because of a partnership between Chipotle and Flexa. Only customers who are using a Flexa-enabled app can pay for their food with crypto.
According to a press release Chipotle would like to connect with the Web3 community and empower fans to buy the dip. And while the company won’t provide financial advice on the current state of the market, it offers a variety of delicious dips and a game that is open to qualified US citizens.
US customers can visit chipotlebuythedip.xyz and win either a dip or crypto with a total value of $200.000.
Some analysts believe that Bitcoin reached a point that could be described as the sweet spot. Others are warning that this is not the bottom and that the global economy could face a recession and possibly stagflation.
The marketing campaign of Chipotle isn’t necessarily an indicator of whether one should buy crypto or not. It is a clear statement that crypto is going to stay no matter how prices will develop and that affiliation with crypto and Web3 is something that is viewed as positive.
This stance isn’t obvious since critics are all over the environmental impact of mining. In other cases, companies with a strong product seem to reject the idea of Web3. Only recently Minecraft has made clear that they won’t tolerate tokenization of in-game content and have no plans for NFTs. This shows that the opinion about crypto and what it is going to become in the future is still up for debate.
Nov 17, 2022
Nike will launch .Swoosh ('dot swoosh') tomorrow. It seems to be a blend of an NFT marketplace and a platform for cocreation. Another big event in the NFT world is the collaboration between Cristiano Ronaldo and Binance, launching his NFT collection. F1 team Red Bull is also involved in the new economy of digital ownership: it will feature an Azuki on their cars.
Nov 14, 2022
Chiliz had a successful run in terms of price for the last couple of weeks. One factor that came into play is that the national football teams of Portugal and Argentina are part of its own Socios platform. With the start of the football world cup 2022 approaching, things got more heated. But there is more to Chiliz than pure price speculation.
Sep 26, 2022
The World Economic Forum started last year to take crypto more seriously and made it a topic of its own. It seems that the WEF got the hang of it and realized that crypto is here to stay and will most likely play an important role in the foreseeable future. The impact of blockchain technology is still up for debate and with Ethereum shifting to proof of stake, once again the discussion about Bitcoin being far from carbon-neutral is incinerated. Why is Web3 particularly interesting to the WEF and how is the organization planning to explore this topic?
Sep 12, 2022
Starbucks today introduced Starbucks Odyssey, that will launch later this year. It is the coffee chain’s first foray into web3 technology. Odyssey combines Starbucks Rewards loyalty program with an NFT platform and will give customers the chance to both earn and purchase digital assets that unlock experiences and rewards.