What gives digital (metaverse) property value?
Plus crypto's Achilles' heel and big data vs verifiable data!
New to crypto? Cryptocurrency Basics is a 9 minute video that serves as a great intro to the world of crypto.
WOW! We just passed 200 subscribers as I’m typing this. Not bad for week 2, eh! I do feel bad for those who haven’t yet subscribed, though, as I’ve added in a fun new section at the end of the newsletter called NITRO! (cause nitro coffee is my favorite). It’ll be a nice little dessert to end things with everyday. We’ll try it out for awhile and see if you like it. Hit me with some feedback (leave a comment) to let me know what you think!
In this issue:
What gives digital (metaverse) property value?
What is crypto’s Achilles’ heel?
Big data vs verifiable data
What gives digital (metaverse) property value?
I listened to an absolutely fascinating podcast episode from Real Vision Crypto today. It was an interview with SuperWorld co-founder and CEO Hrish Loklikar. I don’t think I’d come in contact with SuperWorld yet but it’s a fascinating metaverse project.
The title of the podcast episode was The Metaverse: What Creates Digital Property Value. I was curious so I hit play but… I didn’t ultimately get a crisp, concise answer to that question (unless I just missed it).
I did, however, come away with some related info on how people can make money on digital real estate within SuperWorld. The options range from secondary sales of NFTs (the most obvious thing… digital real estate flipping, essentially) to creating digital assets that can be placed anywhere in the world. A SuperWorld token is also in the works.
Amazingly the average paying user spends around $3,900 in the first month (acquiring between 10-15 properties on average). At the time I’m writing this Mt. Rushmore and Machu Picchu are both still available for .1 ETH… just saying.
What is crypto’s Achilles’ heel?
If you haven’t paid the premium needed to subscribe to the Bankless newsletter, there was a really interesting article today talking about the best argument against crypto. Fascinating, of course, but I want to simply highlight a few potential issues the Bankless community brought up as the best arguments they’ve heard against crypto including:
Code vulnerabilities
On-chain immutability as a threat vector
The State tracking your on-chain identity
Reliance on electricity and the internet
Unknown unknowns in upsetting the financial world order
I’m surprised the potential rise of quantum computing wasn’t also mentioned (although, in that case, the entire internet would be screwed — not just crypto). Either way… I don’t like it when people only praise things without thinking through the possible negatives so I wanted to bring this little list to your attention.
Big data vs verifiable data
If there’s one thing you can count on from Balaji it’s that he has a lot to say. Some of it I find very interesting. A lot of it I find… out there. This particular tweet, however, does a great job of framing web3 vs web2:
Both notions contain the word data but they’re actually not all that related at second glance. Big data is all about tech companies harvesting people’s personal data and monetizing it. Verifiable data doesn’t necessarily stop that — but it does have other benefits (i.e. it could be harder for politicians or news outlets to lie?).
NITRO!
News: Bitcoin rally fades after Fed signals upcoming rate hike
Learn: Burning crypto means to permanently remove a set amount of tokens from the circulating supply.
See you tomorrow!