Podcast: Why Microsoft Could Win the Metaverse Wars | Weekly Roundup

Jason Yanowitz and Santiago Roel Santos talk about Microsoft, the Curve Wars, major acquisitions, tokenomics and more.

by Brianna Beckford /

January 21, 2022 09:12 am

In the latest episode of “Empire,” weekly roundup, Blockworks’ Jason Yanowitz and Santiago Roel Santos gear up for a jam-packed week as they explore the hottest in crypto news. They review changing opinions on tokenization, DeFi and the Curve Wars.

They also discuss the biggest in acquisitions, from new funds stepping into the crypto space with billion-dollar backing to Microsoft’s metaverse news — and what it could all mean for the future of crypto.

Jason and Santiago also talk about:

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What’s happening with OlympusDAO?
Token backing and main market drivers
OpenSea’s Dharma Labs acquisition
and so much more

Check out what they had to say in the video below. 👇

About the show

“Empire” is a twice-a-week show. On Thursdays, Jason interviews crypto industry movers and shakers to talk about their struggles, bold moves and tough decisions. Friday’s weekly roundup episodes feature co-host, Santiago Roel Santos and cover the top news from the past week.

For any NPR or Guy Raz fans out there, you can think of “Empire” as a “How I Built This” for the bitcoin and crypto industry.

Subscribe to “Empire” today on Apple or Spotify. Watch episodes on YouTube.

Get the day’s top crypto news and insights delivered to your inbox every evening. Subscribe to Blockworks’ free newsletter now.

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Kinetiq Protocol: From LST Infrastructure to HIP-3 Deployer

Kinetiq has established itself as Hyperliquid's dominant liquid staking protocol, holding 82.5% of LST market share with $610M in TVL. The protocol is now expanding beyond its kHYPE staking core into higher take-rate verticals: iHYPE for institutional custody rails, Launch for HIP-3 capital formation, and Markets for builder-deployed perpetuals. We view Markets, launching Jan. 12, as the highest-potential product line given its mechanically scalable, activity-linked unit economics. Near-term revenue remains anchored by kHYPE's KIP-2 fee schedule (~$1.6M annualized), while Markets provides embedded optionality if HIP-3 economics normalize post-Growth Mode. KNTQ's setup is relatively clean: zero insider unlocks until November 2026, 6.2% buyback yield from staking revenue, and cleared airdrop overhang. Risks center on unproven Markets execution, declining kHYPE TVL despite ongoing incentives, and competition from Hyperliquid's native initiatives.

by Shaunda Devens