Web3 is vacuuming up web2 talent!
PLUS: Why you *shouldn't* buy virtual land & DAOs and on-chain identity!
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 our Crypto and Web3 for Absolute Beginners course.
As Chris Cantino would say: Consumers want to be Influencers, Influencers want to be Founders, Founders want to be Investors, Investors want to be Consumers. Reminds me a little bit of the quote from that one novel: Hard times create strong men. Strong men create good times. Good times create weak men. And, weak men create hard times… and mostly I just wanted to include that quote.
One more thing: NITRO! is moving to the top (ya I’m serving the dessert first now).
In this issue:
NITRO! (3 can’t-miss things)
Web3 is vacuuming up web2 talent!
Why you shouldn’t buy virtual land!
DAOs and on-chain identity!
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NITRO!
Web3 is vacuuming up web2 talent!
Great (short) tweet thread from Sriram Krishnan talking about talent in the web3 space:
Very simply: the smartest engineers/designers are working on crypto definitely on the side and are interested in moving full-time.
If you ever doubt whether or not anything valuable is happening here… and whether you should invest… see what smart engineers and executives are doing and where they’re going.
The unspoken worry: no one wants to be left behind and seen as legacy tech that’s no longer cool or interesting to work on.
The future is being built as we speak (well, as I type and as you read).
Why you *shouldn’t* buy virtual land!
Something I have mentioned a few times in this newsletter in recent weeks has been virtual land so I want to balance out the, “Hey, cool!” with a bit of, “Hold up!” if for no other reason than to keep you better informed.
Jason Hitchcock says 2 miracles need to happen in order for virtual land to be worth something (and he doesn’t make a bad point):
Miracle 1: you buy land in a metaverse that actually becomes a hit and is sticky with the users
Miracle 2: the economics play out as expected and your land is highly valued by the community
He goes on to say:
I'd be bullish on virtual land in an environment that supports an engaged fandom or community. I.e. a popular video game
Ya. If I could own some of the land in a game I actually play and like like Forza Horizon 5 or Halo Infinite or something like that… THAT would be cool.
Note: I haven’t bought ANY virtual land myself as of yet.
DAOs and on-chain identity!
We haven’t mentioned DAOs here for several issues but that doesn’t mean they’ve gone anywhere. Found a great article today on the on-chain identity landscape which is particularly important for DAOs — the web3 versions of of companies. As the article explains, hiring could be very different in the future thanks to blockchain tech:
Current professional identities are uninformative. The inability to verify public professional information presented via resumes, personal websites, and LinkedIn forces recruiting teams to spend on average 49 days and cost on average $25k for a technical hire. This investment into recruitment is largely spent on filtering competence to ensure the candidate is who they say they are.
By putting identity on-chain, hiring teams can rely on verification instead of trust in hiring. As an example, “Stripe Engineer on X team” is less informative to a hiring manager than having the tasks completed and peer reviews on-chain and available to query.
See you next time (and don’t forget to check out Jasper)!