Elon's Decentralized Twitter? | ETH Merge & 1st Profitable Blockchain | Metaverse Mayhem | BAYC Movie | Web3 Tool Of The Month!
This week has been absolutely insane!
There is so much going on in the web3 space right now, so let's jump right in.
In this week's Web3 Rollup, we discuss:
Elon Musk offering to buy 100% of Twitter and make it a private company
The Ethereum Merge
Coinbase and BAYC partnering to make a film trilogy
The Web3 Tool of the Month
Elon offers to buy Twitter for $43 Billion
Just one week after Elon became a majority stake holder in Twitter, he offered to purchase the company outright for $43 Billion.
In a letter written to Twitter's CEO (seen below), Elon states "I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy, however, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.”
Hours after Elon's announcement, Sam Bankman-Fried (CEO of FTX) made a Twitter Thread outlining what a decentralized Twitter would look like, and how it would be built. Below is a snippet of Sam's thread, and here is the entire thread if you'd like to read through it: SBF Twitter Thread
The Ethereum Merge & The First Profitable Blockchain!
The first-ever mainnet fork has taken place on the Ethereum network successfully. This is a signal that The Merge will be happening soon. The Merge is the transition of the Ethereum network from Proof-of-Work (PoW) consensus to Proof-of Stake (PoS). This allows for a significantly lower level of issuance, moves us away from mining, and becomes carbon green.
When The Merge happens, the issuance rate of Ethereum will be decreased by 90%. Ethereum is on it's way to becoming the world's first profitable blockchain.
Bitcoin Conference Recap
Some great announcements came out of the 2022 Bitcoin Conference:
Madeira to adopt BTC as legal tender
Shopify integrates Lightning Network
Mexico to propose BTC as legal tender
Mexican billionaire's wealth 60% in BTC
Robinhood integrates Lightning Network
Roatán (Honduras) adopts BTC as legal tender
Talk about an epic partnership - LEGO and Fortnite developer Epic Games partner up to build a metaverse. This will no doubt result in an extremely cool collaboration full of nostalgia.
Metaverses are coming
KPMG, one of the largest consulting firms in the world, reported that their research indicates 70% of businesses will have a presence in a metaverse within the next 5 years.
Quoted in the report: "Avatars will allow people to represent themselves beyond the limitations of status. There’s the opportunity to alleviate people’s identity beyond their wardrobe or how much money they have in their bank account. There’s more freedom to express themselves beyond gender, representation and social conventions."
Coinbase + BAYC + Apecoin Film
DAO of the Month
Our Web3 Tool of the Month is Unlock Protocol.
Unlock has turned memberships into assets in the form of NFTs. This a major unlock for businesses, creators, and community members. Right now, it's extremely hard to have a community across platforms or channels. Unlock fixes that. As long as someone holds the membership NFT, that will follow them across the internet or metaverse.
Web3 Academy Discord Highlights
We had a birthday in the community this week. Big shout out and happy birthday to @NFTKea!! He brings so much energy and passion to the community, and we couldn't be happier to have him.
If you're not already in the Discord community, make sure to join in to hang out with other creators, entrepreneurs & marketers on the forefront of Web3 innovation!
Please join us next Monday, the 18th at 4pm EST for our New Members Meetup. As more members continue to join, we want to make sure there is a space for everyone to introduce themselves, connect with the other members, and learn more about Web3 Academy.
2022 Web3 Report: Growth, Community and Marketing In the New Internet
Check out our Web3 Report to learn how blockchain, NFTs, tokens and the metaverse are revolutionizing how we think about marketing and business models in 2022.
Apply to be on the Web3 Academy Podcast
If you are a DOer and have launched real projects within Web3, we want to share your story! We want to know what you did, what worked well, what didn't and what you plan on doing next.
Each week on the Web3 Academy Podcast we interview entrepreneurs, creators and marketers DOing great things in Web3.
If you have a Web3 story to share, complete the form below. Our team will review the application and get back to you ASAP. Looking forward to hearing your stories.
Guest Application [elementor-template id="1800"]