Good day! This the Yellow Dip (Twitter) - A 5-min newsletter that helps you become smarter each week, esp. among your dinosaur friends.

On our agenda, today we have:

• Is it possible to refund NFTs?

• The right approach to invest in cryptocurrency projects

• Quick dips

Is it possible to refund NFTs?

In our last week's edition, we mentioned a story in our 'Quick Dips' section, "Porsche announced new NFTs based on the Porsche 911 model". Owners of Porsche's NFTs are eligible for special privileges such as exclusive merchandise, invitations to in-person and online events, and the ability to personalize the appearance of their NFT.

So, when you go to buy them, here is something interesting (source):

Take a closer look at the two check boxes. While we don’t read any of the terms & conditions, privacy policies, etc. (I never read them! I just check the boxes).

The guy name Paul on twitter found this,

• The second checkbox is for users to give up their “right of withdrawal”

• Right of withdrawal = law that gives users the right to a full refund within 14 days

• Such laws exist in the UK, EU, and other countries and apply to buying goods or services online (this includes digital goods & downloads like books, in-game purchases, etc.)

Why does it matter so much? There are growing concerns among legal experts that NFTs may soon fall under laws regarding the right of withdrawal, and it appears that Porsche's legal team has taken measures to prevent buyers from obtaining refunds for these digital assets. However, it is uncertain whether this applies to other NFT projects and whether traders have the right to a withdrawal or the possibility of a refund. This is a worrying development for those invested in the NFT market.

So, did we find out more? Yes, Paul is trying to figure out if he can get a refund for his Otherdeeds NFT, who are the creators of Bored Apes. He originally paid $9k to mint it, but now it's only worth around $2.2k. But, he's thinking, "Wait a minute, I minted this thing months ago. The right to refund is supposed to happen within 14 days, right?"

Well, it turns out there's a loophole. If the seller doesn't inform you of your right to a refund, then the refund period gets extended to a whole year. Crazy, huh? Europe's got some pretty good consumer protection laws.

It'll be interesting to see how all of this plays out in the legal arena. If the right to withdrawal ends up applying to NFTs, you might be seeing a lot more checkboxes before you mint one.

Let's have some fun.

What is the right approach to invest in cryptocurrency projects?

We're not going to answer this, instead we asked AI to answer this - the famous ChatGPT. Here's the answer that we got, which seems to pretty intelligent. Go read >

Investing in cryptocurrency projects can be a high-risk, high-reward endeavor. Here are some steps that may be helpful when considering investing in a cryptocurrency project:

1. Research the project: Understand the goals and objectives of the project, the team behind it, the technology behind it, and the current and potential use cases. Look for any partnerships, collaborations, or agreements that the project has formed.

2. Analyze the market: Understand the current state of the market, including any trends, news, and regulations that may affect the project.

3. Understand the risks: Cryptocurrency projects are still a relatively new and rapidly evolving market, so it is important to be aware of the potential risks involved with investing in them.

4. Diversify your portfolio: Don't put all your eggs in one basket. It's generally a good idea to diversify your portfolio by investing in a variety of different projects.

5. Have a clear exit strategy: Consider how you will exit your investment if the project does not meet your expectations.

6. Be prepared for volatility: The cryptocurrency market can be highly volatile, so be prepared for fluctuations in the value of your investments.

7. Keep an eye on the regulations: Cryptocurrency is a highly regulated space and the regulatory environment is constantly evolving. Keep an eye on any developments that may impact your investment.

It's worth noting that investing in cryptocurrency projects carries a high degree of risk and it's important to conduct thorough research, invest only what you can afford to lose, and consult a financial advisor before making any investment decisions.

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Quick Dips

+ Now is the best time to start a blockchain company - Pantera Capita (Cointelegraph)

+ Crypto lender Genesis files for bankruptcy (BBC)

+ Alethea AI debuts generative AI on Polygon blockchain (Venture Beat)

+ Crypto to play 'major role' in UAE trade: foreign trade minister (Cointelegraph)

+ 5ire, Network Capital Launch Blockchain Module With NITI Aayog (Yahoo Finance)

That's it for today. Stay curious & see ya next week!

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DISCLAIMER: This newsletter is strictly educational and is not an investment advice to buy or sell any assets or to make any financial decisions. Please be careful and do your own research