#173 - Web3 threads 🧶 of the week
GM and welcome to Decentra Daily.
We're the newsletter that ends every week by rounding up the best web3 threads.
We'll try not to include too many threads on GPT-4 today, promise. 😜
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- @huntersolaire_ on Insta scrapping NFTs
- @TheManMikeTan explains why SVB crashed
- @Dunks077 on $$$ Wolf Game returns
- @ethernaz on the classic NFT roadmap
- @bentossell on 😲 GPT-4 use cases
- @mortenjust makes an app with GPT-4
- @BanklessHQ on the $ARB airdrop
- @alex_valaitis on dangerous Crypto regulation
- @Hercules_Defi on how to find a web3 job
- @RogerDickerman on Beeple Studios
- @waleswoosh shares savage founder tweets
@huntersolaire_ explains why you shouldn't feel too bad about Instagram scrapping its NFT support
Meta just killed their NFT integration on Instagram
While NFT haters are happy
I'll explain why this is actually bullish for NFTs 🧵
— Hunter Solaire ᵍᵐ (@huntersolaire_)
Mar 14, 2023
Kicking off this week – the news that Insta is shutting down NFT support less than a year after it launched.
Why? According to @huntersolaire_, it's because Meta is not a web3 company, no matter how hard they might try to convince you otherwise.
Instead, they're an opportunistic web2 organization, who are only interested in web3 and NFTs if there's potential for ⬆️ profits and a better brand image.
@huntersolaire_ thinks this decision gives the space much-needed time to improve NFT safety and user experience before Meta starts sniffing around again.
@TheManMikeTan explains why SVB went down in simple language for us dummies
Many of my startup friends see that I used to be an investment banker and have consequently asked me to explain to them what's going on with SVB as I would explain it to a 7 year old, so here goes:
— Michael Tan 🌱💵 (@TheManMikeTan)
Mar 10, 2023
Need a simple, clean take on what caused the SVB bank run? Here's @TheManMikeTan with a no-jargon explanation.
According to this thread, SVB became used to receiving lots of deposits from well-funded startups and locking them into safe bonds and low-yield mortgage-backed securities.
But in the post-COVID financial environment, many startups wanted their deposits back, while interest rate hikes decreased the value of SVB's investments.
SVB needed their client's cash, so they sold their securities at a $2 billion loss.
Cue: unrest, panic, mass withdrawals, and a steep downward spiral.
@Dunks077 shares their tantalizing Wolf Game returns
How I'm making a 65% return on equity using @wolfdotgame assets
16 eth of $WOOL Pouches
3.45 eth for 15 Joe Farmers
2.15 eth for 5 Gen 0 Sheep
2.5 eth for a L3 Barn
2.5 eth for a L3 Bath
= $45,220 in assets at current market prices
This generates $29,444 in annual revenue
— Dunks ✨ (@Dunks077)
Mar 17, 2023
I love my PlayStation, but it's never generated $29.5K per year for me.
Wolf Game, on the other hand, offers skillful players the chance to strategically invest in gameplay assets to produce real-world rewards.
One such pro-Wolf Gamer is @Dunks077, who shows off their winnings in this thread.
By spending $45K on Farmers, Barns, and Bathhouses to protect and care for Sheep, they're generating a 65% return on equity.
Wolf Game's $WOOL token has been struggling recently, but "The Shepherd" has announced upcoming token burns, which should help things along.
On the web3 wire
Coinbase considers opening an overseas trading platform 🌎
It would be a big change for the exchange, which has so far operated under US jurisdiction.
BTC breaks $26K in a YTD high 📈
The federal response to SVB's collapse helped raise the overall crypto market cap.
"Bank balances and money itself are effectively illusions" 💭
Reserve co-founder Nevin Freeman writes a thinkpiece on the state of trad banking.
@ethernaz relives the "good ol days" of predictable NFT lifecycles
Who remembers the good ol days 🧵
1. Hear about pump
2. Join discord
3. Grind for allowlist by spamming 3+ “friends”
4. Gas wars ⛽️
5. Max mint on multiple accounts
6. Hype up discord
7. Change pfp
8. Price moons 🚀
9. Sell a few
10. Metaverse announcement
11. Price moons
— riddles.eth (🇨🇦,) (@ethernaz)
Mar 17, 2023
😂 In this thread, @ethernaz looks back at the hype and chaos surrounding NFT projects in the last bull run.
You know how the story goes: first comes the alpha, then the discord spamming for allowlist spots. You spend a horrific amount on gas and ride high while the project outlines a roadmap more ambitious than Musk's trip to Mars.
Then comes buying the top, then comes silence, then comes @zachxbt to out the founder as a scammer...
@bentossell lists some impressive early use cases emerging as people test-drive GPT-4
All the best examples of GPT-4, from OpenAI:
— Ben Tossell (@bentossell)
Mar 15, 2023
First GPT-4 thread.
Here, @bentossell outlines what a post-GPT4 landscape could look like.
So far, we've seen examples of people using the technology to code virtual assistants, teachers, drug chemistry modifiers, customer service helpers, quality assurance tools, Decentra Daily newsletter writers, lawyers, app developers, website cloning tools, childcare advisors, etc. etc.
And @mortenjust uses GPT-4 to turn their idea for an app into reality
hey gpt4, make me an iPhone app that recommends 5 new movies every day + trailers + where to watch.
My ambitions grew as we went along 👇
— Morten Just (@mortenjust)
Mar 15, 2023
Along the same lines, here's @mortenjust with a deeper dive on how to use GPT-4 to make a bespoke iOS app with minimal coding experience.
In this thread, @mortenjust shares how they created "WatchMate", an iPhone app that gives daily movie recommendations and trailers, by asking GPT-4 to act as their coding and programming assistant.
@BanklessHQ brings the deets you need on the upcoming $ARB airdrop from Arbitrum
@arbitrum has finally announced its long-awaited airdrop 🥳
$ARB will be used to govern over the Arbitrum ecosystem, and yes, will be airdropped to early users. It launches 3/23 🥏🥏🥏
You've got questions, we've got the answers.
Let's dive in 🧵👇
— Bankless (@BanklessHQ)
Mar 16, 2023
The Arbitrum project has announced its long-awaited airdrop, which will be launched on March 23rd.
$ARB will be distributed to the platform's users, investors, treasury, and DAO – and will be used to facilitate governance participation.
@BanklessHQ has loads of coverage on this story, so check them out for more details.
@alex_valaitis reviews the sorry state of US Crypto regulation – and warns the Fed represents a real risk to US web3
Crypto is under attack.
What happens over the next 12 months will define the future of the financial system.
Here's everything you need to know about the U.S. government's war on crypto 🧵
— Alex Valaitis (@alex_valaitis)
Mar 16, 2023
Lots of short threads this week. Here's a longer one.
@alex_valaitis explains how the situation around US crypto regs is probably worse than you realize, with the Biden administration making it clear that they intend to take down the crypto industry – and replace it with their own central bank offerings.
The plan of attack? Remove easy onramps to crypto, shut down banks that work with the industry, and scare off builders by classifying blockchain assets as tightly-controlled securities.
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@Hercules_Defi on how to quit your web2 job and find a totally safe and stable role in a web3 company
Jobs are the safest way to make money in Defi or Web3 space.
But 95% of the people try to make money by trading which is risky.
🧵I curated a list of great threads for finding jobs easily.
— Hercules | DeFi (@Hercules_Defi)
Mar 15, 2023
What if you'd just received a salary from your favorite pfp project, instead of riding the highs and lows of investing in their NFTs? 🤔
@Hercules_Defi compiles this megathread on how to land some of the most in-demand web3 positions, such as moderators, community managers, developers, and smart contract auditors.
@RogerDickerman shares some views from Beeple Studios' recent show/party
Welcome to Beeple Studios 🔥🧵👇
— RD (@RogerDickerman)
Mar 12, 2023
In this thread @RogerDickerman, Head of Web3 at Aku, shows us what went down at Beeple Studios' first public show, featuring a shedload of video artists.
Loving the half-gallery, half-club vibe!
And finally, @waleswoosh on the most savage, sassy NFT founders
Founders going wild:
Here's a compilation of the most savage tweets from NFT project founders 🧵👇
— wale.swoosh 🐳 (@waleswoosh)
Mar 12, 2023
In honor of Poopie's latest piece of excellent social media communication, @waleswoosh posts this Greatest Hits of founders getting wild on Twitter.
The takeaway? You can only push an NFT founder so far before they freak out, post an emotional 100-tweet thread, and use the community treasury to check into an Arizona rehab.
I'll see you in the next Decentra Daily 👋
Meme of the day
No one is safe.
What we're reading this week