TLDR Crypto Daily Update 2022-10-24

Bored Ape metaverse crashes ๐Ÿ“‰, enforceable NFT royalties ๐Ÿ–ผ๏ธ, working in web3 ๐Ÿ‘จโ€๐Ÿ’ป

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Markets & Business

Aptos Market Debut: More Than $1 Billion Worth of APT Traded in First Week (6 minute read)

$1.3 billion worth of Aptos' native coin APT has been traded since Wednesday. APT's price plummeted by 40% within its first few hours of trading. Perpetual contracts have been seeing a lot of action. Aptos launched its mainnet last week. The project has been criticized for its tokenomics.

The Floor Price for Bored Apeโ€™s Otherdeed NFTs Is Crashing (1 minute read)

The floor price for the Bored Ape Yacht Club's Otherdeed metaverse NFT collection dropped by 25% in three days. Yuga Labs sold land rights for its metaverse project as NFTs for around $7,000 each, excluding gas fees, which cost buyers thousands more. They are now worth roughly $1,600.
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Innovation & Launches

Aptos NFTs Are Comingโ€”And May Put Network Scalability Claims to the Test (6 minute read)

The NFT scene on Aptos is growing. Topaz, one of the marketplaces on the Aptos blockchain, says that it has already processed around $87,000 worth of trades. Several NFT projects are preparing to launch soon on Aptos. Aptos claims that it will scale to handle over 160,000 transactions per second, but it can currently only handle around 10 TPS. The upcoming NFT launches will put the Aptos network to the test.

Solana Could Get Enforceable NFT Royalties Via New Metaplex Standard (4 minute read)

Metaplex, the creator of Solana's NFT standard, is developing a new standard that can enforce royalty payments. Many NFT marketplaces have made paying royalties optional. Creators can currently set royalty rates in their smart contracts, but marketplaces can choose not to honor them. Metaplex aims to support multiple NFT asset standards within its framework. The company plans to reveal additional solutions for web3 creator monetization at the Solana Breakpoint conference in Lisbon next month.
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Guides & Resources

TokenIcons (1 minute read)

TokenIcons is a free collection of ERC20 icons for EVMs. It is a community initiative to source and maintain ERC20 icons and info. There are over 150 icons and there is support for Ethereum, Polygon, and Arbitrum.

Working in Web3: The Handbook (12 minute read)

This document contains information and resources about working in web3. It covers mindset, software development, how to find a job in crypto, fellowships, and much more. The best way to get into working in crypto is to learn crypto.
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Miscellaneous

On the DCCPA (2 minute read)

Economic freedom is the core of crypto. The Digital Commodities Consumer Protection Act aims to regulate centralized crypto venues. It will establish guidelines about how centralized entities can interface with DeFi. Centralized entities will likely have more requirements and potentially customer suitability tests in the future.

A Response to SBF and Principled Crypto Regulation (10 minute read)

This article is a response to Sam Bankman-Fried's Twitter thread on crypto regulations. It addresses each point in detail. Crypto should not be regulated in the same way as the fiat financial system. The former is based on open-source immutable code that acts precisely as it is written while the latter is based on layers of custody and intermediaries that must be trusted opaquely.

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Quick Links

Toppling the Internetโ€™s Accidental Monarchs: How to Design web3 Platform Governance (10 minute read)

web3 governance could offer an embedded foundation of credible trust to build the next generation of platforms.

Structuring Blockspace Derivatives (15 minute read)

Blockspace derivatives are financial contracts that allow users to hedge their exposure to fluctuations in gas prices.

Disney launches web3 experience to celebrate 100 years of Disney music (2 minute read)

The 3D 360 virtual experience lets fans discover soundtracks and songs from popular Disney films and TV shows.

X2Y2 Dives Into NFT Lending With 0% Fees (3 minute read)

X2Y2's NFT Loan feature allows lenders to make multiple loan offers with different durations to better utilize their ETH.

Messaging App Telegram to Auction Usernames on TON Blockchain (1 minute read)

The auction platform is now ready and will be rolled out soon.

Y Combinator alumni DAO unveils web3 fellowship program (3 minute read)

The fellowship program provides mentorship and a 25,000 USDC grant.

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