This Week in Web3: Friday, July 22, 2022
Fear and Loathing in Crypto, Stranger Things NFTs, the Open Metaverse Alliance, don’t talk to Dan Gardner about NFTs and the Metaverse and Merge vs. Macro with Travis Kling
Hi friends,
Yep, we’re back. Sorry for the hiatus. Truth is, I took a few weeks off, took the family to Europe for a much-needed vacation, and felt the newsletter and my commitment to it, would be better served if I didn’t try and half-ass it while also trying to get some R&R.
But I’m back from vacation, well rested, and excited to open up the firehose and jump back into all things Web3.
So what’s been happening since I’ve been away? Everything and nothing. The world of Web3 continues to move at an extraordinary pace, but in many ways, not much has changed. That’s the nature of these cycles, if you look too closely it can be overwhelming, if you zoom out, you can begin to see the bigger picture. I think I am starting to get some clarity on where all of this is heading. More on that soon.
One of the aspects of Web3 that has remained consistent these past few weeks has been the naysaying. These are loud and in some cases influential voices, which Marc Andreessen calls “the visceral ‘fear and loathing’ of crypto”, which he believes is an ‘incredible gift’ to his firm and the industry. I think I agree.
This is not to say that things got real bad, real quick and that there aren’t valuable lessons to be learned. We’re in a crypto bear market, we’ve seen the collapse of the TerraUSD stablecoin, crypto lender Celsius filed for bankruptcy, and Open Sea just announced layoffs.
While this is painful, and the human impact is regrettable, it’s also all part of a necessary cycle that we as an industry need to go through. Despite all this, investors are still investing, builders are building and the naysayers are welcome to their moment in the sun. The less we listen, the more we focus, and the more likely we can achieve our goals.
Ok, let’s dive into this week’s digest, with a slightly new and hopefully improved format.
Let’s go!
TL;DR
Netflix to Launch a Stranger Things NFT Collection With Candy Digital
Christie's launches venture fund aimed at Web3 and blockchain investments
FTX CEO and Solana co-founder offer advice for building Web3 ecosystems
Don't Talk to Me About NFTs and the Metaverse: How to really think about the promise of web3
If You’re Thinking About Getting Into NFTs, Ask These Questions First
The Stratechery: DALL-E, the Metaverse, and Zero Marginal Content
Protocol: Matthew Ball on the metaverse: We've never seen a shift this enormous
Why Nike's next Web3 move is a black hoodie: Rtfkt’s founders tell all
'Bored and Dangerous' Is Reinventing the Way NFT Projects Use IP Rights
nft now: 3LAU on How NFTs Will Disrupt the Entire Music Industry
News we’re following
Netflix to Launch a Stranger Things NFT Collection With Candy Digital
Netflix has partnered with Candy Digital to produce a series of Stranger Things NFT collectibles. The first collection goes live on Thursday, July 14, and features 17 different characters from Season Four of the Netflix original.
Christie's launches venture fund aimed at Web3 and blockchain investments
Christie's, the auction house known for its sales of art and luxury items, has launched an investment fund to support emerging companies with technology enabling “seamless consumption of art.”
3LAU on How NFTs Will Disrupt the Entire Music Industry
In a Monday announcement, the auction company said the fund, Christie’s Ventures, will financially support firms in Web3, “art-related financial products and solutions,” and technology related to art and luxury goods. According to Christie’s, its first investment will be in LayerZero Labs, a company developing solutions for enabling omnichain decentralized applications, allowing a more seamless transfer of assets between blockchains.
AMGI Studios raises money to make a metaverse game that bridges Web3 and Hollywood
More…
Web3 platforms launch the Open Metaverse Alliance
FTX CEO and Solana co-founder offer advice for building Web3 ecosystems
Asia's First Physical Metaverse-Themed Web3, NFT and Crypto Conference Happening In Singapore
Things we’re reading
Silicon Valley’s Marc Andreessen gets excited when he sees the fierce criticism leveled at cryptocurrencies, distributed ledger technology, and the blockchain.
“The nerds are predictive and the MBAs aren’t,” said Andreessen.
Don't Talk to Me About NFTs and the Metaverse: How to really think about the promise of web3
Web3 and all its buzzy trimming has a reputation problem. And I'm regretful to admit that is largely due to my tribe—creatives. That’s why I’m calling bullshit. Just because you are a creative in advertising doesn't give you the right credentials to be an expert and give effective solutions.
Before you get defensive or roll your eyes, I'd like to give some context. I promise you that I did not form this stance overnight. Let’s get into it.
If You’re Thinking About Getting Into NFTs, Ask These Questions First
As a founder of the Web3 Studio at Salesforce, which supports our internal Web3 product and strategy as well as guide some of the worlds largest brands along their transition from Web2 into Web3, we spend a lot of time thinking about NFTs, the blockchain, and more things related to the metaverse.
Even though much of the general public is still trying to fully grasp what NFTs are, they are everywhere. Just look at the major brands across global industries that are launching and selling them: Taco Bell, Twitter, Campbell Soup, even the Los Angeles Times.
More…
The Stratechery: DALL-E, the Metaverse, and Zero Marginal Content
Protocol: Matthew Ball on the metaverse: We've never seen a shift this enormous
Why Nike's next Web3 move is a black hoodie: Rtfkt’s founders tell all
'Bored and Dangerous' Is Reinventing the Way NFT Projects Use IP Rights
Things we’re listening to
nft now: 3LAU on How NFTs Will Disrupt the Entire Music Industry
Justin Blau — better known by his artist moniker, 3LAU — is a pioneer at the intersection of music and blockchain technology and perhaps one of the biggest proponents of music NFTs. With his Ultraviolet collection of 33 different NFTs netting him a reported $11.7 million in early 2021, 3LAU offered up a shining example of how NFTs have the power to disrupt the music industry and have continued to help define the music NFT ecosystem through a multitude of endeavors — most notably his curated platform, Royal.
web3 with a16z: Securing and Evolving NFTs
We cover the security and evolution of NFTs across applications and mediums -- including dynamic NFTs for art to identity to experiences; address common myths and misconceptions along the way (artist royalties in smart contracts? immutability?); and discuss experiments, trends, and applications of interest now and ahead.
Bankless Podcast: Merge vs. Macro with Travis Kling
Travis Kling is the founder of Ikigai Asset Management, and on today's State of the Nation, we're tackling the biggest trade of the year.
While the global market fundamentals crumble, the Ethereum ecosystem looks primed to make history with a successful transition to Proof-of-Stake.
What does this mean for crypto?