Surviving a crypto meltdown
Plus: think of blockchains as cities and get ready for $RON!
New to crypto? Cryptocurrency Basics is a 9 minute video that serves as a great intro to the world of crypto.
I know, I know… your crypto wallet feels a little lighter today. While I can’t (or at least won’t) make it any heavier for you today, I do have some mental aspirin you can take to help ease the pain. Also, I’m a little smarter about blockchains today and you’re about to be too! Oh and you know how you always have FOMO about that one gaming project you didn’t know about ahead of time and that you simply had to watch rocket past your frowning face on it’s way up to the moon? Ya… read till the end (not financial advice of course).
In this issue:
Surviving a crypto meltdown
Thinking of blockchains as cities
$RON is coming... are you ready?
Surviving a crypto meltdown
It’s one of those days today. You know the kind where they tell us we’re supposed to buy when there’s blood in the streets… even if it’s your own! As painful as it is to see what appears to be the life draining out of your crypto assets one of the best places you can direct your attention is away from prices and toward the flow of talent into the crypto space.
As Jake Chervinsky pointed out recently:
Something you don't see: people excitedly announcing their departure from Web3 to join a tech megacorp as employee #4617 to eke out a few extra pennies in ad revenue. The talent flow is one-way & picking up steam without regard for the daily fluctuations of asset prices.
Markets fluctuate and dips come and go but innovation doesn’t take a break when crypto goes on sale. Builders are building, adopters are adopting and crypto as a category has big long-term plans.
A few words to remember from @route2fi:
The big money you make in bull runs is defined by the actions you take when the market looks bearish.
And a few more from Carlos Slim:
Courage taught me no matter how bad a crisis gets... any sound investment will eventually pay off.
Thinking of blockchains as cities
Came across an absolutely fascinating blog post by @hosseeb about why you should think of blockchains as cities rather than networks. As a non-coder I feel like I have a much better understanding of Layer 1’s now.
The post compares Ethereum to NYC — expensive, congested and a place where only the wealthy can afford to interact. How do you scale New York? Build up (ie build skyscrapers). In this illustration skyscrapers are akin to Layer 2’s.
In the real world, is NYC the only city? Obviously not. In crypto, Ethereum isn’t the only blockchain in town either. Haseeb compares Solana to LA — big and sprawling and cheap compared to NYC.
The upshot:
The important thing about these cities is not just that they're big and open for business. Each has a different vision of what a city should be and how it should be governed. They each accept different tradeoffs, adopt unique values, and attract different industries.
$RON is coming… are you ready?
Axie Infinity is obviously one of the biggest names in crypto gaming but Axie doesn’t just exist — it’s powered by various components. An important one of those components is the Ronin Network which “unlocks hyper-growth for NFT games.” Astonishingly, 15% of all NFT transactions in 2021 happened on Ronin!
Why are we talking about Ronin today? Well, because of this tweet:
NFTs and crypto games are 2 areas within crypto that have shown small pockets of resistance to the overall downward trend we’ve been experiencing lately.
Probably nothing…
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