Google enters the Web3 race
GM, we take the latest Web3 news and translate it into plain old English - so you can stay up to date, without your eyes glazing over.
In today’s edition:
Google enters the Web3 race
This NFT series from Logan Paul could act as a roadmap for Web3 community building
RESOURCE: What is Staking in Crypto? Learn in 7 mins
Will Web3 run out of disk space?
Terms used (click for translation):
NFTs, DAOs, Web3
Google enters the Web3 race
Megatrends are to us here at Web3 Daily, as trains are to Francis Bourgeois.
We love to talk about them and we love to theorize on which will come next.
If you're not sure what we're on about, a megatrend is an emerging digital/cultural force that's likely to have a significant impact on the kinds of products we'll all be using in the future.
...and Francis Bourgeois is a dude on TikTok who's really, really into trains.
Megatrends get us all riled up because:
They're usually a 'winner-take-most' battle, so the stakes are high.
We're short on hobbies.
Some examples of previous megatrends are:
Online search (won by Google)
Online payments (won by Stripe and PayPal)
Yelling 'HUSTLE!' and 'GRIND!' at entrepreneurs online (won by Gary Vee)
It should come as no surprise to you that we see Web3 as the next megatrend (many do), but it's hard to confirm such a hunch when we're all so deeply invested in the space.
Does everyone feel the same way as us? Or are we just fanatics?
The canary in the coal mine for breaking megatrends is often the entry of corporate behemoths.
...like say, Google...who just announced the formation of a Web3 team tasked with:
"Providing technologies for companies to use and take advantage of the distributed nature of Web3 in their current businesses and enterprises.”
Noting that the space is:
"Already demonstrating tremendous potential.”
Brb, giving CPR to a canary.
Logan Paul's new NFT series has something most others don't...
The opening to this linked article is perfect, so we're just going to quote it:
"To the surprise of very few, Logan Paul has entered the NFT game."
Here's how the series was created / what it offers:
Logan traveled the world, taking a polaroid photo each day for 99 days, and now he's minting them as NFTs.
Each buyer gets a (potentially) appreciating asset and the opportunity to join the 'Originals DAO' - which lets members vote on community projects spearheaded by Logan, along with access to “exclusive experimental events”.
Creating a community of super fans, using Web3 technology? We love to see it.
...but it's been done before.
So what's different here?
Narrative.
The story told in the announcement video is kind of genius.
We'll let you go and experience it for yourself, but we will say this:
If you've ever looked at Logan Paul and thought 'wow. what a douche', the story told within the video acknowledges that sentiment and hints at a redemption arc, leaving you wanting to see how it all ends.
If you're in advertising, you're probably yelling 'That's marketing 101, dingus!' at your screen right now.
And you're right! But when it's done well, it just hits different.
Resource of the day
What is Staking in Crypto?
Learn in 7 mins
Will Web3 run out of disk space?
Web3: a decentralized network of computers that help keep your data safe from the info-hungry tech giants.
Sounds great, but how does Web3 scale if it relies on individually owned computers to store vast and ever growing amounts of data?
Won't we run the very real risk of running out of virtual disk space?
Yeah, it's a problem.
What's needed for users to offer up disk space, is an incentive structure.
This article is about an interesting combination of technologies that are trying to offer just that.
It's a two parter:
Arweave, which essentially takes money from users wanting to store data, invests it, then pays out the accrued interest in their native 'AR token' to anyone that wants to monetize their free disk space.
Bundlr, which is a program being built for the Arweave network that lets users upload data from any major blockchain (Ethereum, Solana, Avalanche etc.) and pay in a range of digital currencies.
Eg. want to store a Solana NFT on the Arweave network, but don't want to pay in their AR token?
Bundlr will make your Solana NFT 'compatible for storage' on the Arweave network and let you pay in a bunch of different currencies.
This sort of stuff is boring on paper, but massively important for the growth of the Web3 space.
File this one under: 'not the coolest, but good to know and really hope it works out'.
Your Daily Dose of Web3
Under Armour returns to the NFT space with Steph Curry 3-pointer NFTs
Nvidia fined $5.5 Million for covering up how crypto miners boosted its profits
Snoop Dogg & Gary Vee latest to buy NFTs in Ice Cube’s BIG3 Hoops League
Alright, that’s it for today!
Love to the family,