This Week in Web3: Friday, April 15th, 2022
Avalanche raises $350M, the difference between Web3 & The Metaverse, Ryan Wyatt Has an Interesting Idea About NFTs in Gaming, how DAOs will change work, plus Chris Dixon on the future of the Internet
Hi Friends,
How are you spending your time these days?
I don’t know about you, but I’m finding that as I continue on my journey to educate myself and others about Web3, I’m also learning a ton about all of the adjacent areas that are being impacted.
For instance, I know more about IP law, banking, organizational hierarchy, game theory, art, and even technology’s impact on the environment, than I could ever have imagined. Does this resonate with you? What are some of the adjacent areas that you’re gaining a deeper understanding of?
Of course, there’s so much more to learn, however, we’re here to help, I hope.
Enjoy this week’s digest!
TL;DR
The Block: Avalanche developer raising $350 million at $5.25 billion valuation
MetaMask Institutional Adds Ethereum Gnosis Safe, Custody Options for DAOs and DeFi
Polygon Studios CEO Ryan Wyatt Has an Interesting Idea About NFTs in Gaming
Decoder Podcast: Chris Dixon Thinks Web3 Is The Future Of The Internet — Is It?
Means of Creation Podcast: DAOs Explained: Coordinape co-founder Tracheopteryx on how DAOs function, and what they entail for the future of work
News we’re following
The Block: Avalanche developer raising $350 million at $5.25 billion valuation: report
The Avalanche blockchain was launched in September 2020 by Ava Labs as an "Ethereum killer." It has garnered over $13 billion worth of total value locked (TVL) to date compared to Ethereum's over $115 billion, according to data from DeFi Llama. Avalanche is currently the fourth-largest blockchain after Ethereum, Terra and BNB Chain.
MetaMask Institutional Adds Ethereum Gnosis Safe, Custody Options for DAOs and DeFi
MetaMask, which has over 30 million monthly active users, is perhaps most commonly known for its individual use as a “hot wallet” for Ethereum transactions and NFT purchases. The new institutional integrations will help organizations like banks, corporations, and DAOs manage crypto funds. MetaMask Institutional (MMI) was launched in December 2020.
Things we’re reading
The Important Difference Between Web3 And The Metaverse
Two terms that are generating a lot of hype and excitement in the world of business technology right now are Web3 (sometimes called web 3.0) and metaverse—judging by some of the coverage, you would be forgiven for thinking that they refer to the same thing. Actually, although they are related in several important ways, they both describe different concepts.
Polygon Studios CEO Ryan Wyatt Has an Interesting Idea About NFTs in Gaming
Wyatt, a 14-year games industry veteran, has watched talented developers leave companies like Riot Games or Activision Blizzard Inc. to “pursue this ambition of being an entrepreneur, raise capital and build blockchain games.” At the same time, he says, “There are a lot of people who are native crypto, speaking to gaming audiences without really understanding gaming.”
How DAOs Could Change the Way We Work
As DAOs proliferate, instead of having one employer and a 40-hour workweek, we’ll likely contribute several hours a week to several DAOs. The technology-centric nature of DAOs will result in rudimentary, algorithmic work being automated, freeing contributors up to be the most creative and useful versions of themselves and allowing them to spend more time on high-value activities — the type that stimulate the flow state — and less time on monotonous, shallow tasks.
Things we’re listening to
Decoder Podcast: Chris Dixon Thinks Web3 Is The Future Of The Internet — Is It?
Regular listeners to Decoder know I’m pretty skeptical of crypto. But I want to come by that skepticism honestly, so I talk to people who are actually investing in and building crypto startups and technology. There is a lot of money, attention, and energy — both literal and metaphorical — in crypto, and I think it’s important to ask the questions and really listen to the answers. We’ve done a few of these episodes now, but this episode is a conversation I’ve wanted to have from the very beginning.
Historically, humans have organized themselves in a variety of ways: from tribes and councils, to LLCs, and C-Corps. But these forms of organization tend to be centralized in nature, and feel slightly out of place today.
With so much of our personal and professional lives taking place online now, the real question is: what does an internet-native way of organizing ourselves and our resources look like?
Bankless Pocast: What is TreasureDAO?
Ever heard of that small gaming company, Nintendo? They're trying to build the decentralized version of it. How? David brings on two of their co-founders to discuss that and so much more.
Project’s we’re following
Enterprise Software on the Internet Computer Blockchain
A massive market opportunity can be seized by developing on-chain solutions to operational challenges for organizations of all sizes.
Blockchain technology is already rapidly transforming software, but the Internet Computer is particularly well positioned to disrupt a multi-billion-dollar industry that’s not getting much attention in the world of Web3.