Markets & Business
Innovation & Launches
Instagram will soon allow select creators to make and sell NFTs directly in its app (3 minute read)
Instagram creators will soon be able to make and sell NFTs directly to fans both on and off Instagram. Meta has developed a toolkit for creators to create, showcase, and sell NFTs. Buyers will be able to purchase NFTs directly within the Instagram app through in-app purchases. Instagram will not take a cut of creator revenue for now. The feature is currently being tested with a small group in the US.
JPMorgan Dives into DeFi After CEO Trashed Crypto as ‘Ponzi’ (2 minute read)
JPMorgan's Onyx unit recently executed live foreign exchange swaps of tokenized Japanese Yen and Singapore Dollars. The swaps were made as part of Project Guardian, an initiative backed by the Monetary Authority of Singapore that aims to explore DeFi applications in wholesale funding markets. Project Guardian is currently deployed on Polygon, but it will eventually be rolled out to other blockchain networks. It uses a modified version of Aave Arc.
Guides & Resources
Web3 Credentials → A Primer (26 minute read)
This article teaches readers how to build an on- and off-chain resumé with web3 credentials. It covers what web3 credentials are and why they are important, the problems with web2 credential issuance, the current web3 credential landscape, and how to use web3 credentials. web3 credentials can be used to certify knowledge and prove experience through token ownership.
Lens Protocol & The Web3 Social Thesis (3 minute read)
Lens Protocol is a novel social graph protocol for web3 social applications. It allows users to own their profile and interpersonal relations. This means users' online identities can no longer be destroyed by a centralized entity. This Twitter thread explains Lens' architecture and how it solves the problems with web2 social networks.
Centralization is inevitable (7 minute read)
This article discusses why a centralized web is inevitable and how processes generally move from being decentralized to centralized. A decentralized web is unlikely as consolidation tends to sneak into systems. Many industries are currently highly consolidated. Networks are not distributed evenly around the world and people will move to whatever system is most efficient and easy to use.
What to Expect From Ethereum’s Next Big Upgrade (2 minute read)
Ethereum's Shanghai update will make it possible to withdraw staked ETH. It will also introduce a handful of minor developer-oriented tweaks. There is no release date or full feature set available yet for the update. Proto-Danksharding, a highly anticipated method of increasing network capacity and lowering fees, may not be included in the update. The developers plan to finalize the feature set in the next month or so.
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