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Will a Phillies World Series win send us into recession?
And NFTs at the soccer World Cup 🏟
joe hitchcock
November 03, 2022
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But for today:
The Phillies' recession record
Masters of Movement soccer NFT experience
Will a Phillies World Series win send us into recession?
The Phillies and Astros are currently playing in the World Series.
Philadelphia are underdogs. They snuck into the playoffs and face a team who have made 4 out of the last 6 World Series.
But, the Phillies are playing with passion and are currently tied 2-2 (despite suffering a 'no-hitter' last night). It's a score that's got financial experts worried.
Why? Because every time Philadelphia wins a World Series, there’s a recession 📉
The city of Philadelphia is home to 4 World Series wins – two by the Athletics and 2 by the Phillies:
1929. The Athletics win the World Series. Wall Street crashes.
1930. They make it back-to-back titles. The Dust Bowl worsens.
1980. The Phillies’ first World Series win. Followed by a 3-year recession & energy crisis.
2008. Phillies win their second title. Then comes the Great Recession.
Now they’re competing for the World Series again and, sure enough, the economy is tanking. The S&P is already recording its worst year since the last Phillies' last win…
Spooky stuff!
To find out if there’s any causation to this correlation, we asked Decentra Daily finance correspondent, Wally Buffett-lunch, for his thoughts.
Here’s what he said:
“The mysterious connection between the Phillies and recessions has baffled economists for years. Some say it’s just a coincidence, but I believe that Phillies fans go so crazy when their team wins that they develop a false sense of security, leading them to make poor financial decisions that help precipitate a recession.”
Wise words, Wally.
Perhaps the most convincing explanation is that baseball superstitions are real and always have been.
NFTs at the soccer World Cup 🏟
Let's stick with sports.
The FIFA World Cup in Qatar is a couple of weeks away and, like the Lakers, 76ers, and Montreal Canadiens, Crypto.com is a main corporate sponsor.
To mark the event, the exchange – which surpassed 70 million users yesterday – has partnered with Visa to create Masters of Movement.
It's a charity auction that bundles soccer memorabilia with dynamic NFTs, which use data from iconic World Cup moments to create abstract art – like this Michael Owen goal from France '98:
Don't mention the penalty shootout.
Fans traveling to Qatar will also get the chance to mint their own NFTs at the FIFA Fan Festival. From the promo materials, it looks like you'll be able to kick a ball around a Smart Pitch to create your own dynamic art pieces.
Other web3 world cup happenings:
FIFA launched its own NFT collection based on archive footage (👈 this one is awesome!)
Algorand is the World Cup's official blockchain platform and is helping FIFA to "develop its digital assets strategy."
Unlicensed alt tokens named after teams and players are pumping, as investors do some short-term gambling.
However, cryptocurrencies are illegal in Qatar, so don't expect to pay for a halftime pint with DOGE.
Tweet of the day
Only on Twitter can you see a $200 billion man bargaining with a $500 million man to save $12 a month.
— MΞSSi (@apebayc)
12:24 AM • Nov 2, 2022
That's all, folks!
Tomorrow: Who is the Steve Jobs of web3?
Disclaimer: Nothing in this article/newsletter should be considered financial advice. The purpose is to inform readers of the current trends and news in the web3 space. We encourage every reader to do their own research and not act upon information put forth by Decentra Daily.