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web3 is going through tough times with SVB x USDC, tactics to make the blockchain the place you need to be, how web3 is all about connection & 3 fresh products.
Tons happened in web3 last week. Here are three highlights:
USDC Stablecoin Falls to 87 Cents After Circle Discloses Exposure to SVB.
Voyager Liquidates $56M in Ethereum, SHIB, and Other ERC-20 Tokens.
This week’s dose of web3 is a holistic kickoff into 2023 ↓
a twitter tweet & thread¹
worthy reads²
1. Making "The Blockchain" the Next Place you Need to Be
“…We’re currently at an interesting crossroads as it relates to what it means to do things on “the blockchain”. The broader understanding is it’s a place where you can get rich… or get scammed. To be fair, that’s the result of “permissionless” but it’s also lacking the context of the good. It’s purely a reflection of how it’s been used to date, postured by hyperbolic takes of unique situations that have happened through the course of the past decade. This is in the absence of a directional purpose, which we believe, already exists in buying, selling and collecting. As of this second, Bitcoin, Ethereum and Solana have ~$20T, $6B and $369M 24 hour trade volume respectively. OpenSea peaked at nearly $5B monthly volume, and still sits around $500M today. This is what people should care about. We spend a lot of time talking about how early it is, and finding product-market-fit, but really we may be closer than we think. And that may mean staying focused and convicted on what we know blockchain does well and building towards a framing. Then, we can make blockchain a place that everyone knows useful things can happen, just like going online, storing in the cloud and surfing the web.…”
Read the full article here by @jarroddicker.
2. It’s All Connection, It Always Has Been
“…We’re in our “cozy web” era, to remix a quote from Austin Robey. We’re so early as a battle cry for fumbling through the UX/UI of navigating our novel digital relationships represented through tx hashes and asynchronous chat histories. Cultivating intimacy on the internet is the only way we’ll build an actually generative digital — and physical — experience. Afterall, “can’t be evil” is intellectually dishonest. Post Denver, we’re back to shitposting and subtweeting on crypto Twitter. We’re back to arguing with each other about good takes/bad takes. Our hardware remains a critical portal to this world but our screens intermediate our connection. The only true disintermediation is IRL experiences. Multiplayer mode is the bull case for crypto. We’d be foolish to deny the fact that when you coalesce smart, creative, passionate, and (frankly) weird people that value will inevitably proliferate....”
Read the full article here by @cryptohun3y.
undiscovered products³
Blaze → connect web2 & web3 data to understand users and create personalized experiences.
Nilos → all-in-one payment platform to receive, track & pay in crypto and fiat.
Thirdgate → get exclusive perks from your favorite web2 & web3 brands.
Find these and all 470+ other resources on intoweb3.land ↗.
↻ a summary
W10 covers the current state of blockchain, emphasizing the need to focus on its utility and building towards a framing that can make it a place where useful things can happen. The article also highlights the importance of connection in building a generative digital experience and the need for intimacy in navigating novel digital relationships. The newsletter ends with three undiscovered products that bridge web2 and web3 data to create personalized experiences, provide all-in-one payment platforms, and offer exclusive perks from favorite web2 and web3 brands.
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intoweb3.land is curated by Julian Paul.
See you around.