When “Rick and Morty” creator Dan Harmon wrote a joke about McDonald’s discontinued Szechuan sauce in Season 3 of the show, he unintentionally instigated a series of fast food riots and changed the relationship between TV and food, forever.

And it would appear that he’s out to do it again.

But this latest creation from Harmon isn’t about time-traveling grandpas or elusive chicken nugget pairings.

No, this is the first television show exclusively curated for the blockchain and it may finally bridge the gap between American media and DeFi.

Could this show’s success mean a rosy future for crypto TV?

Espresso Shots

☕️ Gensler Skewered at Oversight Hearing 🍴

On Wednesday, the House Financial Services Committee met for another oversight hearing to question SEC Chairman Gary Gensler about the regulatory body’s recent activity.

Predictably, it was an absolute dogpile. Four of the Representatives sitting on the committee had penned a letter earlier this week criticizing Gensler’s handling of crypto. Given the chance to question Gensler, they did not hold back.

“Despite your years of rhetoric, I’m convinced you are not an impartial regulator,” said Representative Tom Emmer (R-MN). “Instead, it’s clear that you are working to consolidate your own power even though it means crushing opportunities for everyday Americans, and frankly the financial future of this country.”

Emmer highlighted the SEC’s recent, failed lawsuits against Grayscale and Ripple. “They’re telling you that you don’t have the legal authority to accomplish your goal of squashing competition in the financial markets.”

We don’t disagree, but it’s a lot of talk about Gensler “squashing” and “crushing,” referring to a man who looks to be 112 pounds soaking wet.

☕️ Binance Exits Russia 🇷🇺

Binance has decided to sell all of its Russian operations to CommEX for an undisclosed amount.

CommEX is a fairly new exchange, having only launched on Tuesday.

This decision from Binance was most likely prompted by the looming inquiry from the Department of Justice regarding compliance concerns with Western sanctions against Russia put in place after the invasion of Ukraine.

And Binance will leave all their Russian assets on the table.

“Unlike similar deals from international companies in Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business.” Reads the official release from Binance.

Binance even plans to regift the Edible Arrangement sent by CommEx with the attached card that reads, “From Russia With Love.”

☕️ Kraken To Launch Stock Service 🦑

The crypto exchange Kraken will launch a new service, Kraken Securities, in 2024 which will deal in US-listed stocks and ETFs.

We’ve heard plenty about TradFi going DeFi, but this is one of those rare occasions when DeFi goes TradFi.

Despite the report from Bloomberg, Kraken has yet to officially confirm the expansion. "While we can’t comment on rumors or speculation, we’re looking to broaden and enhance our offering so clients continue to have secure and seamless access to Kraken’s full product suite," said a spokesperson for Kraken in a conversation with Reuters.

Kraken has also applied for a broker-dealer license within the United States.

As Kraken extends its tentacles into the stock market, we look forward to the exchange’s rise and fall being documented in Martin Scorcese’s next project, “The Octopus of Wall Street.”

Spilling the Beans

Fox Bets on Blockchain-Backed Animation 📺

Whether you’re saying “Pickle Rick” ironically or earnestly, there’s no denying “Rick and Morty”’s cultural impact.

Much loved, often hated, the adventures of an inter-dimensional grandpa and his reluctant grandson singlehandedly brought about the Adult Swim renaissance and created a media and merchandising empire.

But it was only a matter of time before the entertainment powers that be asked Harmon to do it all again.

The FOX network is attempting to make lightning strike twice with Harmon’s latest creation, “Krapopolis,” a half-hour, animated comedy parodying Greek mythology.

“Krapopolis” has attracted some serious voice talent. Richard Ayoade of “The IT Crowd” plays the protagonist, the incompetent twenty-something king of Krapopolis.

So far, most of the plots seem to revolve around Tyrannis trying to create civilization and please his parents, the Goddess Deliria played by “Ted Lasso”’s Hannah Waddingham, and Shlub, a manticore-style multi-monster voiced by “What We Do In The Shadows”’ Matt Berry.

Now, adult animation is nothing new. But what makes “Krapopolis” unlike any show that’s come before it, is its ties to DeFi.

As one, underwhelmed critic in The Hollywood Reporter put it, “Krapopolis, a long-gestating Fox animated comedy notable for off-screen trivia — it’s already been renewed through a third season, plus it has some connection I don’t understand to the blockchain — is bland.”

Now, before we start dissecting that reporter’s personal feelings about the show, let’s explore “Krapopolis”’s supposedly incomprehensible connection to the blockchain.

“Krapopolis” was garnering Web3 enthusiasm long before it aired. Its DeFi presence was captained by FOX’s Web3 entertainment division, Blockchain Creative Labs.

Blockchain Creative Labs took the show’s premise and ran with it, offering digital collectibles, virtual scavenger hunts, a private Discord, and in-person events with the cast.

But, perhaps the holy grail of Web3 entertainment, Blockchain Creative Labs offered users who got involved online the opportunity to help decide the direction of the show.

Now, we’re not sure how much creative control the audience has exerted on the narrative so far, but Web3 adoption in entertainment is always something we’re happy about.

The value of this use case is further emphasized by it’s scale. This isn’t an indie darling featuring the writers’ favorite digital collectibles.

“Krapopolis” currently occupies a spot on FOX’s Sunday Animation Domination lineup, a block of programming that helped to launch animation giants such as “The Simpsons”, “Family Guy”, and “Bob’s Burgers.”

And despite The Hollywood Reporter’s assertion that the show is “bland,” last Sunday’s premiere drew in 3.6 million viewers, making “Krapopolis” the highest-rated comedy telecast of 2023.

And honestly, it’s pretty good.

I watched the pilot by myself, and, at several points, made slight exhalations out of my nose. Watching a cartoon comedy sober and alone, I’d say those gentle snorts of amusement would be equal to hysterical laughter in other contexts.

But personal taste aside, “Krapopolis”’s early success is a huge win for Web3.

Now, was that viewership the result of a primo block of airtime? Was it Dan Harmon’s brand recognition? Or was it, as we like to think, the result of enthusiasm amassed years in advance in the halls of crypto?

The show has already been slated for three seasons, with possibly more to come. Blockchain Variety Labs touts “Krapopolis” as “the first-ever animated series curated on the blockchain”.

But we think it will be far from the last. The program’s success will send a clear message to producers and developers that crypto is a genuinely effective tool to connect with audiences and they can’t afford to miss out on it.

As the bonds between entertainment and crypto grow ever stronger, it only further cements that crypto, rather than an online hobby, is a platform with limitless capabilities to revolutionize and democratize how we interact.

“Krapoplis” is a dysfunctional family comedy about embracing modernity and defying the gods, but if FOX is building a temple to crypto, grab some cultist robes and ritual daggers, cause we’re ready to worship.

Crypto 101

dApp: A portmanteau of “Decentralized Application”.

A dApp is any application or software that runs on the blockchain or a peer-to-peer network. A dApp creates both a smart contract and a front-end user interface.

The Last Sip

The Last Sip: If you’re wondering how involved Dan Harmon was in the Web3 aspects of “Krapopolis,” here’s a video of him drinking a High Noon as he tries to comprehend the blockchain.

Stay Caffeinated,

Coffee & Crypto Team

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