Nice, now we’re thirsty.
Drink Up
All through the ups and downs of the American financial system, one factor has been astonishingly fixed: the value of AriZona Iced Tea drinks, which all the time has been, and hopefully all the time can be, 99 cents.
In different phrases, are you able to think about any higher asset to again a brand new “steady” cryptocurrency?
The web site for USDTea, a brand new AriZona Iced Tea-backed crypto, calls the enduring beverage “America’s most steady asset” — and it’s exhausting to argue, given {that a} large can of the great things has been 99 cents because the firm started distributing in 1992.
Information of the just about definitely tongue-in-cheek USDTea comes within the wake of the continued stablecoin nightmare, through which the value of the Terra stablecoin drop greater than 99 % and amid a bigger crypto crash that’s introduced even Bitcoin to its knees.
Hucksters
Created by the mossy tech/artwork collective — the identical group behind the unofficial Non-Fungible Olive Gardens venture — USDTea is on the Ethereum blockchain and may, as its web site claims, be redeemed for precise AriZona teas (for a $20 flat price, after all).
Together with these two seemingly satirical crypto initiatives, mossy additionally has a 3rd maybe-joke non-fungible token (NFT) venture: Blockedchain, which permits folks to mint NFTs when, and solely when, somebody well-known blocks them on Twitter.
Of those three absurdist ventures, USDTea appears to have essentially the most potential to go wherever — although on this planet of crypto, which noticed the jokingly-named Dogecoin spike in worth after Elon Musk tweeted the phrase “doge,” who’s actually to say?
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