Web3 Wednesday: Meta is Killing Its NFTs
How to create, buy, and sell Bitcoin Ordinals
Welcome to another Web3 Wednesday. Let’s see what’s happening today.
Meta is killing its NFT initiative. Yes, you read that right. No more NFTs on Facebook or Instagram. Don’t expect me to cry about that. Some creators, however, are not happy.
Bitcoin NFTs are selling for millions. Users have created more than 385,000 inscriptions since January. How to create, buy, and sell Ordinals (this is the most useful read of the day). I’m convinced that if you take a pile of manure, photograph it, call it an Ordinal, then you can become an instant millionaire. You’ll be a shitcoin millionaire, but you’ll be a millionaire.
Unstoppable Domains announces .polygon domains. I can see the day when every blockchain could have its own domain name extension. Imagine having your own personal website on every major blockchain worth having a presence on. How many domain names would you own to protect your digital identity?
Nouns DAO features its first animated movie.
If you get all nostalgic over the Cookie Monster, Miss Piggy, and Kermit the Frog, you’ll love being able to spend your hard-earned greenbacks on Sesame Street NFTs.
The EU will regulate smart contracts through the Data Act. One of the provisions of the Act is for smart contracts to have a “kill switch.” Essentially, smart contracts can’t be permissionless,
NFT-related complaints skyrocketed in China in 2022. See? The Chinese love their children too.
Why DAOs should be viewed as consumer products.
Is a metaverse revival on the horizon? 13 cultural changes the metaverse is ushering in. Who is metaverse fashion really for? How businesses can build revenue streams in the metaverse. What marketers need to know about Web3, the metaverse, and NFTs. What’s interesting about the last read, by MarTech, is that Web3 and the metaverse are nearly indistinguishable according to the author’s view of them, even though she says they are distinctly different. She defines Web3 as a “3D version of the internet” and says it doesn’t necessarily need crypto or blockchain technology. I don’t think marketers need to know these things at all.
The psychology behind collecting NFTs.and I hang out with power creator PVM in Episode 8 of Season 2 of Defluenced. We discuss PVMs productivity, the death of Bitcoin Cash Web3 communities, PVMs favorite crypto-focused social media platform, and his Humble Tractors NFT collection.
Web3 and artificial intelligence (AI) marry to make multiplayer technology. Seriously, I don’t understand the hype around AI at all. I think it appeals to people’s sense of laziness. If they can create something of value with less energy and input, then let’s ride that rodeo clown until the bull throws in the towel (okay, so I mixed metaphors … so what?). Could the end result be more disastrous than domestic violence? I’m very suspicious of AI.
Web3 adoption could be 3 to 5 years away.
Metacade raises $10 million for GameFi.
Metaverse gaming has a three-pronged problem.
Web3 game developer wants everyone to quit calling digital assets “NFTs.” I can see his point.
Square Enix is including 10,000 characters in a new NFT game.
The secrets to Web3 fashion success.
A short legal guide to NFTs.
Hooman Motevalli has created a DAO-based metaverse. After all, why not?
@Nathansenn is using HiveAuth for user authentication on Unity3D.
There’s “A New Possibility’ for NFT art in Beijing.
Try some Web3 Good Reads:
For some good reads by a leader in the Web3 Write3 movement, subscribe to Greg Younger at Mirror. Greg has a great Discord group gated by Mirror NFTs. You only have to collect one to be admitted.
Cryptoversal is doing some interesting things on his Cent page. The other Greg has a robust community called Wordler Village where his co-authors share in storytelling based around the popular Wordle game.
Also, Cent Pages writer Jordy publishes serial fiction as collectibles. You never know where this stuff may go.
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Snark and commentary are in italics. Inclusion of an item doesn’t mean I agree or endorse the ideas presented. Of course, it also doesn’t mean I don’t.
Cryptocracy is a decentralized newsletter published several times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto. Original articles on Fridays.
First published at Cryptocracy. Not to be construed as financial advice. Do your own research.
3 Unique and rare opportunities:
Collect “Social Tokens Can Solve Author-Collaborator Challenges” at Mirror. Only 5 available.
Collect Web3 Social: How Creators Are Changing the World Wide Web (And You Can Too!) as an NFT. If I win Readl's contest, I'll win $500. Help me win!
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