#138 - Web3 threads ๐Ÿงถ of the week

GM daily-ers!

Author

joe hitchcock
January 28, 2023

GM and welcome to Decentra Daily.

We're the newsletter that's been wrangling web3 threads since the days of the old wwwest.

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Today,

Web3 threads of the week

@Chinchillah_ tries out some different wallet integrations

I feel like, despite their name, chinchillas are inherently un-chill animals.

In this thread, @Chinchillah_ confirms my suspicions.

After becoming irritated with Metamask's UX and lack of privacy features, they decided to try out a few wallet alternatives.

Their review includes Rabby wallet, which @Chinchillah_ describes as having an intuitive interface, smooth multi-chain experience, and easy gas settings. ๐Ÿ‘€

Also: Frame, which is privacy-focused for EVM chains, and XDeFi, which allows for token swapping and farming.

At this early point in web3, few companies have cornered their market like MetaMask. But that doesn't mean there aren't good alternatives out there...

@darkp0rt is on a one-man mission to establish an NFT refund precedent

Web3 studio founder turned T&C sleuth @darkp0rt has uncovered an interesting consumer law, which has the potential to affect the entire NFT space.

Over a couple of threads, @darkp0rt (aka Paul) highlights how Porsche's recent NFT mint website included a checkbox that, if ticked, waived a user's "right of withdrawal."

Right of Withdrawal is a European law that gives users the right to a full refund within 14 days of purchase (or longer, if the right wasn't included in the purchase terms).

This consumer rights law hasn't been associated with NFT purchases before, which got Paul wondering โ€“ when/how can holders take advantage of it?

After noticing the Porsche checkbox, Paul is testing the waters by asking Yuga if he can get a refund on his Otherside deed. ๐Ÿ˜‚

We'll keep an eye on this story and let you know how Paul gets on.

@kwharrison13 on Marc Andreessen's onion

Marc Andreessen, founder of venture capital firm a16z, has a framework for analyzing any startup โ€“ and @kwharrison13 brings it to you in this thread.

It's called the "onion theory of risk", and like peeling an onion, going through the framework reveals increasingly deeper layers of potential investor risks.

The layers:

  1. Founder Risk - Are the founders the right team?

  2. Market Risk - Is there a market for the product?

  3. Competition Risk - How many close competitors?

  4. Timing Risk - Is it too early or too late for this idea?

  5. Financing Risk - How much more money is needed before profit?

  6. Marketing Risk - Can the startup successfully acquire customers?

  7. Distribution Risk - Does the startup need distribution partners?

  8. Technology Risk - Can the product actually be built?

  9. Product Risk - Can this team build the product?

  10. Hiring Risk - Can the team attract and retain key personnel?

If you're thinking of starting a business, reverse engineer the onion!

On the web3 wire

Pudgy Penguins becomes a multi-chain collection โ›“You can now transfer your Pudgy to Arbitrum, Polygon, or BNB

The Bankman-Fried's aren't cooperating, say lawyers ๐Ÿ™ŠA legal filing by FTX and creditor representatives says Sam's family has closed ranks.

Amazon is launching some kind of web3 game this spring ๐ŸŽฎAnonymous sources say Amazon is developing blockchain-based games with NFT rewards.

@waleswoosh shares their favorite iconic moments from web3 culture (so far)

Remember Gary Vee's face when asked if NFTs are just a scam? Classic. And that deleted tweet from Yieldasaurus? Oh, the hubris.

In this thread, @waleswoosh compiles their favorite cultural moments from web3's short but jam-packed history.

What memes would make your highlight reel?

@HighyieldHarry on those ๐Ÿ˜ค "day in the life of a tech worker" TikTok videos

One day, you're a genZ college grad earning six figures by wandering around an empty big-tech office and narrating your day in TikTok upspeak...

...the next, you're using that same upspeak to explain how you were impersonally laid off via email.

It's all documented in this schadenfreudic thread by @HighyieldHarry.

(I've seen people saying that these "day in the life" vids are staged and made by recruiters ...but who are they trying to recruit?! ๐Ÿ˜)

@Ape4249 shares their tips for upping your Dookey Dash score

Looking to hone your Dookey Dashing without resorting to cheating?

@Ape4249 has some tips for you:

  • Collect as many fragments as possible early on

  • Don't boost through thin air too often

  • Remember that fans move anti-clockwise

  • Stick toward the outer edge of the pipe and look far ahead

Get the full set of gameplay tips in the thread. Happy Dashing!

@punk9059's post-Kevin Rose hack security tips. Keep that wallet cold!

Here, @punk9059 boils down the key lessons learned from Kevin Rose's multi-million-buck hack.

It all comes down to three things:

  1. DO NOT sign transactions with the wallet you use to store your collection

  2. DO NOT keep all your NFTs in a single wallet

  3. DO NOT believe that you are ever 100% safe in this space

Stay alert, degens.

@pranksy shows support for Doodles' decision to launch on Flow

Some interesting, and extensive, thoughts from @pranksy in this thread about Doodle's decision to launch their latest expansion on the Flow blockchain.

@Pranksy reminds us that he was a hypeman for the Flow-based NBA Top Shot back in the day โ€“ and to some extent, he remains supportive of that project.

The big picture:

  • Top Shot's Flow-based onboarding process remains way better than anything on Ethereum

  • With Flow, you trade a lil' centralization for huge onboarding potential

  • The way Top Shot onboarded so many people into the NFT space deserves a lot more respect than it gets

  • If Doodles 2 can do something similar, it's a win in Pranksy's book

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@DigiDaigaku with more details on their big Super Bowl mint

DigiDaigaku is planning to give away some Digi Dragons in a live mint that's taking place during a Super Bowl commercial on Feb 12th.

But what if you don't feel like competing with millions of half-lit dads to get your Dragon?

This thread explains how you can enter an early free giveaway for one of these NFTs.

And finally, @ToTheDemon with a helpful Open Edition discovery tool

Thanks to the bespoke NFT listing platform Manifold, Open Edition NFTs from smaller artists are having a moment right now.

If you want to get in on the action as a collector/trader, this thread by @ToTheDemon shows you how.

They recommend using uncurated.xyz, a simple NFT search tool that lets you set parameters like quantity, cost, allowlist, and token type.

Use the tool to find pieces you like, DYOR on the artist and their previous market performance โ€“ then start building your digital art collection!

Ok, that's all! We'll be back Tuesday for another week in web3. Appreciate ya! ๐Ÿ‘‹

Meme of the day

Wen Decentra Daily reach 100K subs?