New to crypto? Cryptocurrency Basics is a 9 minute video that serves as a great intro to the world of crypto. It’s part of my Crypto and Web3 for Absolute Beginners course.
I’m changing things up here once again. We’re gonna try simplifying things to get back to the heart of what this newsletter was always supposed to be about: saving people time. For the foreseeable future I’ll be publishing 3 cool things (formerly the NITRO! section along with a further interesting crypto thought I’ve run into.) Why? I think I’ve been bogging down a bit lately and I want to keep this fresh and lively. Feedback appreciated!
3 cool things:
Article: What is Harmony? The Blockchain Using Randomness to Reinforce Proof of Stake
Thread: Yield Farming
On NFTs as the new websites
Awhile back Chris Dixon said NFTs were like web3’s version of websites — the web3 primitive. In an interesting thread from Conor Svennsson which breaks down why he agrees with Dixon about tokens being the new website I came across this tweet:
It’s true that creating an NFT now is much easier than it was for a non-technical person a couple of years ago… but… does the average person really know how? I don’t think so.
When it comes to websites people think, “Ya, I’ll just go to SquareSpace and set something up there.” What is the SquareSpace of NFTs? Does it exist? Look at this list of things you need to do in order to create an NFT:
Make an image or a collection of images.
Choose a marketplace
Create your wallet.
Mint NFTs
Get ETH or SOL for listing NFTs
Create a sales process.
To my knowledge there isn’t a single place where you can do all of this in a one-stop-shop manner.
A project I’m advising is currently contemplating an NFT launch (not art-related btw) and there’s a LOT more than the above involved (admittedly it’s a high-profile project). There’s legal considerations, a DAO component, marketing and lots more.
All this to say… we’re not quite there yet with this analogy… it’s still early days… but we’re getting there. That, and there’s plenty of opportunity for those who spot it (maybe you’ll create the SquareSpace of NFTs?).
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