web3 has its first two consecutive weeks in the red in 2023, Uniswap launched a mobile self-custody wallet and 3 exciting new products from diverse approaches.
Tons happened in web3 last week. Here are three highlights:
Market Cap for Binance Stablecoin BUSD Plummets 43% in 30 Days.
Polygon Launches Decentralized ID Service Powered By ZK Proofs.
Visa's Crypto Strategy Remains Intact Despite Crypto Winter.
This week’s dose of web3 is a holistic kickoff into 2023 ↓
a twitter tweet & thread¹
1. Beyond Hype: Understanding the Impact of Airdrops on NFT Marketplace Performance
“…The NFT marketplace has witnessed a series of airdrops over the past year, but the success of these airdrops has been questionable. A closer examination of the airdrops of $LOOKS, $X2Y2, & $BLUR tokens reveals that major sell-offs occurred after the airdrop, & user activity decreased drastically following the airdrop. Blur made significant strides in the airdrop model by introducing multiple rounds and criteria, but a small group appeared to manipulate the overall hype and volume. From the data, we can tell: Large airdrops may backfire as users tend to sell tokens after claiming them, & too much supply is given away. To retain user attention, concurrent airdrops have proven effective, as seen with Blur's success in turning one-time users into loyal customers. A one-size-fits-all approach to airdrops doesn't work. Instead, utilizing on-chain data to incentivize rewards and segment users can significantly improve airdrop success by finding high-quality users…”
Read the full article here by @jphackworth42.
2. Introducing Patch Wallet
“…Patch Wallets are not another social sign in service for your NFT marketplace or dapp. We are not a SaaS service. We’re the second ever Wallet Protocol…following in the enormous footsteps of the Safe ecosystem (Gnosis Safe) and partly built on the Safe smart contract system. Just like Safe’s focus on secure multi-sig wallets, Patch Wallets are focused on bridging Web2 users to the Web3 economy automatically. Behind the curtains, Patch Wallets use simple EIP-4337 account abstraction smart contract wallets called Base Accounts, deterministic create2 addresses on all EVM chains, Lit Protocol for signing, and 4337 bundlers and PayMasters. Patch Wallets can receive any amount of tokens and NFTs but don’t get deployed until the user wants to utilize the assets they’ve accumulated (effectively “write” access)....”
Read the full article here by @corbpage.
NFT Accounting → Bring control to the chaos of NFT Accounting.
COPILOT → snipe low listings before the market. Buy faster than others.
PatchWallet → use your Twitter, Email, or Github as your personal crypto wallet without the complexity.
Find these and all 470+ other resources on intoweb3.land ↗.
↻ a summary
Last week in the web3 world, the market cap for Binance Stablecoin BUSD dropped 43% in 30 days, Polygon launched a decentralized ID service powered by ZK Proofs, and Visa's crypto strategy remained intact despite a crypto winter. An article on airdrops suggests that large airdrops may backfire as users tend to sell tokens after claiming them, and too much supply is given away. Concurrent airdrops have proven effective in turning one-time users into loyal customers. Patch Wallets, a new wallet protocol, was introduced, allowing users to bridge Web2 to Web3 economy automatically. Finally, there are some undiscovered products, including NFT Accounting, COPILOT, and PatchWallet.
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