📝 Web3 Field Notes #2 - 15.11.2022

📝 Field notes &📚 readings:

• No escape from FTX: Conceived to be most antifragile system of value suddenly become most fragile. Too much greed, to much hubris, too much centralization. A reset is needed. As Michael Saylor put it: “We need ethically sounds, technically sound, economically sound digital assets.”: https://lnkd.in/eieD_AsM

• A portrait of Changpeng ‘CZ’ Zhao by the Financial Times: https://lnkd.in/e6T8fd8q 

• The most recent Pantera Capital Blockchain letter on Bitcoin and whether and projections for the next halving (March 2024): https://lnkd.in/ek_uPubY

• Bitcoin mining inventory flush and capitulation: https://lnkd.in/epemZwtZ 

🚨 What caught my eyes: 

• “Decarbonization requires decentralization”: Shell enters crypto, starting with making Bitcoin more sustainable https://lnkd.in/e549wxXd

• Just do it: Nike will launch ‘Dot Swoosh’ platform to house Web3 projects on Friday. The platform will be a place for people to buy, show off and trade phygital and virtual products; unlock access to events and products; and co-create products. Nike’s first collab with RTFKT has been a huge success: The RTFKT CloneX NFT avatar collection accounted for about half of Nike’s total revenue. https://lnkd.in/etcERGG6

• OpenSea speaks out for NFT creator royalties; recently, NFT exchanges started dropping royalty fees for what many see as a race to the bottom and the elimination of a key feature of NFTs / smart contracts to reward creators: https://lnkd.in/ewqqFv82

💡Ideas & Take-Aways: 

• The dichotomy of the FTX collapse: We need “better” regulation, but more decentralization; fragility vs antifragility; trust vs less trust. 

• The crypto industry enters a stage of deep self-reflection on its original values it was built upon: decentralized, trustless, permissionless, incorruptible, immutable – the antidote of what happened last week. 

• The last days were a big win for Bitcoin.

Back to building an learning. 

Onwards! 🚀