The 5 best tweets of Chris Dixon, voice of Web3

Web3: Chris Dixon's 5 best tweets

Why is Web3 decisive and what are its advantages? Discover Chris Dixon’s 5 best tweets about Web3!

Chris Dixon is one of the most influential figures in the Web3 industry and a partner in a16z, a Venture Capital fund active in the crypto world and founded in 2009 by Marc Andreessen and Ben Horowitz. Dixon is known for his commitment as a Web3 popularizer. For years, he has been proposing interpretations and points of view on the evolution of the Internet, also through interesting threads on Twitter. His Twitter profile, cdixon.eth has almost 900,000 followers and is a reference point for enthusiasts in the field. Let’s take a look at Chris Dixon’s 5 best tweets on Web3!

1.   Why is Web3 important?

Presenting Dixon’s best tweets about the Web3, one can only start with ‘Why Web3 matters‘. In this tweet, in order to define the importance of Web3, Dixon begins by presenting the difference between centralised and decentralised companies and the tendency of Web2 companies to create benefits for users only during their first phase of life. After this phase, in Dixon’s view, users become just a ‘greedy source of data’. The main criticism in the tweet relates to the attitude of traditional companies, which according to Chris Dixon discourages innovation. Web3 platforms on the other hand, being totally owned by the users who use them, are not subject to this problem. Users are incentivised and work together with the platforms with the aim of expanding and growing the project of which they are an active part. The tools used to make this happen are tokens, both fungible tokens and NFTs. Chris Dixon firmly believes that it is necessary to redistribute the power and value on the web to users.

This tweet, written in 2021, has become an important testimony in the history of Web3. It is precisely this post that accurately defined the phases of the Internet, allowing, among other things, the interpretation and understanding of what Gavin Wood meant when he first coined the term Web3.

2.   The strengths of Web3: dApps and NFTs

The second tweet is also about the transition from Web2 to Web3. Blockchain, according to Dixon, in this historical period is the equivalent in terms of innovation of mobile applications in the period from 2009 to 2012. Chris Dixon defines dapps on the blockchain as the IT frontier of the millennium. He goes on to say that the strength of dapps is that they can be modified, programmed and improved by third-party actors because they are open source and permissionless. Dixon brings up as an example of dapp’s potential, the DeFi summer of 2020, the period in which the first wave of decentralised applications broke out and which saw the birth of Uniswap and Compound. Creating inclusive, fair and transparent financial services is indeed possible thanks to dApps. Dixon is positive about NFTs, describing them as an opportunity that can offer content creators and developers better economic conditions than what Web2 platforms used to offer. In conclusion, the tweet asks what trends will dominate the immediate future. Web3 social networks, DAOs or metaverses?

3.   Making a start-up by watching a series

This tweet refers to the series ‘Winning Time – The Rise of the Lakers Dynasty’ produced by HBO. The series tells the story of the rise of the Los Angeles Lakers NBA team starting with the takeover of historic owner Jerry Buss, who through his entrepreneurial skills transforms the team into an unbeatable dream team. More than the prowess of NBA players Magic Johnson and Kareem Abdul Jabbar, Chris Dixon seems interested in the entrepreneurial component of the TV series. He calls it a great show about start-ups.

4.   Chris Dixon joins the Board of Directors of OpenSea

The tweet announcing the entry of the Web3 popularizer to the board of the world’s most famous and used NFT marketplace could not fail to be part of this selection! The announcement took place right on Twitter, specifically on the profile of OpenSea CEO Devin Finzer.

Opensea’s decision to welcome Dixon is not too surprising, the latter being one of the most famous and respected Web3 disseminators and a venture investor with a lot of experience in the field. Among the projects he has been involved in as a financier and advisor are Uniswap, Avalanche and many others. Through the tweet, he said he was thrilled to be able to join the board of a giant like OpenSea, and that he was very happy to be able to continue working closely with David Finzer. In fact, the two met in 2021, when the fund in which Chris Dixon is a partner, a16z, decided to invest in OpenSea, and since then they have been working closely together, constantly comparing notes.

5.   The controversy with Minecraft: don’t clip the wings of developers

We end Chris Dixon’s list of the top 5 tweets on Web3 with a bang! The entrepreneur commented on the decision of the famous game Minecraft, developed by Microsoft-owned Mojan, to avoid any kind of NFT integration within the game. Dixon stated, in a polemical tone, that apparently Web2 companies can change the rules for developers at any time. Later, in response to his first tweet, he again poked fun at Microsoft, pointing out the inaccuracy of a sentence within the document containing the announcement.

The phrase in question ‘an NFT is a unique, unchangeable digital token that is part of a blockchain and is often purchased with cryptocurrencies such as Bitcoin’ is indeed inaccurate. NFTs are not typical of networks such as Bitcoin’s, but are instead usually created on blockchains that allow dapp development, such as Ethereum, Solana and Avalanche.

The Graph’s plan for full decentralisation of information on blockchain

The Graph: crypto towards full decentralisation

The Graph announces the abandonment of centralised hosting services, and prepares to decentralise all its operations

The Graph is one of the most innovative and interesting protocols of the entire Web3 world and is used for indexing blockchain data. The Graph is nicknamed ‘the Google of the blockchain’ because it actually performs more or less the same task as the search engine does for the traditional Web, i.e. it indexes the data on the blockchain, making the process of extracting it easier and faster. In this way, it allows Dapps to find the data they need very quickly. The protocol is officially abandoning its centralised hosting service and moving entirely to The Graph’s decentralised network. 

The current situation of The Graph

The Graph’s ecosystem revolves around the relationship between the developers of subgraphs and those who use the data. The former describe how the data is organised, the latter are for example app developers, who are willing to pay to query the data contained in the subgraphs. This data is, for example, the transaction information written within the blockchain as transaction data.  Initially, a centralised hosting service, run by Edge & Node, the team behind The Graph, was created to make The Graph’s network work. To date, this hosting service hosts more than 24,000 subgraphs that will gradually be transferred to the decentralised mainnet. The move to the decentralised mainnet is taking place gradually. The first subgraph was launched on this net in the first quarter of 2021, and as of the 30th of June 2022, the number of active subgraphs was 392.

The complete migration to the mainnet and its phases

The migration of all functionalities to the main net of The Graph is expected to be completed in the first quarter of 2023. At that point, the centralised hosting service will be completely disabled and it will only be possible to access the data on the subgraphs in a decentralised manner. But let us see through which steps this will take place specifically:

  1. During the first phase, which already started at the beginning of the third quarter of 2022, the development of new subgraphs on the centralised hosting service ceased. It is still possible to update the remaining subgraphs on the hosting service but not to build new ones. We are currently in this phase;
  2. In the second phase, all updates to the subgraphs are to be made via Subgraph Studio, an isolated and secure development environment created specifically for testing subgraphs. Once tested, they are to be published on the decentralised network. It will then no longer be possible to update subgraphs on the centralised host service;
  3. In the third and final phase, the subgraphs located on the centralised hosting service will be completely removed. This should take place by the first quarter of 2023 and will be taken care of by the engineers and developers of The Graph’s official team.

The decentralisation of the entire infrastructure will allow those using the service offered by The Graph’s ecosystem to build fully decentralised dapps.

Collaboration with Silicon Kruger and Good Work foundation

One of The Graph’s latest projects was developed through a collaboration with Silicon Kruger, an innovation centre set up to facilitate access to the Web3 for developing countries on the African continent. Silicon Kruger and The Graph have developed the first indexer for African dapps called Index Africa. The indexer aggregates dapp data and retains a portion of the rewards generated by its node, which are then allocated to a funding programme for students in rural Africa. This is made possible by Index Africa’s non-profit partner, the Good Work Foundation, a South African organisation that has been providing access to education for young African students since 2005.

Will developers be able to complete the migration in the allotted time? And will The Graph’s network attract applications that aspire to be fully decentralised? Follow us so you don’t miss the next updates!

Crypto football: Barça and Socios, stadium tickets with BTC and the NFT football market

Football and crypto: Barcelona and Socios, Crawley Town, Oxford City

Football NFTs, Barça and Socios, and tickets can be bought in BTC. Football and cryptocurrencies are getting closer and closer!

The world of football is one of the sectors in which Web3 technologies are becoming more established. One of the main reasons for this is certainly the strong following, and consequently the high visibility, that blockchain companies can achieve through sports-themed initiatives and collaborations. Fan tokens, sponsorships, Sorare’s NFT fantasy football. In short, the Web3 is interested in football! Is this attraction mutual? Let’s see it in the article!

NFT football market. The Crawley Town F.C. and WAGMI United affair

Would you like to be able to pick transfer targets for your favourite team? For Crawley Town fans, it was possible! On the 15th June 2022, supporters of the team, which plays in the English fourth division, were able to vote for a new player to be bought and included in the squad. The vote took place on WAGMI United‘s Discord channel, and was restricted to all NFT owners of the brand. The player who was chosen was Jayden Davis, a 20-year-old midfielder who joined the team on a free transfer deal.

But what is WAGMI United? The term WAGMI stands for “We’re all gonna make it” and is a very famous motto in the crypto world. WAGMI United is an American Web3 brand that aims to revolutionise the way fans interact with their favourite team. The company bought the small English team in April for a price of $20 million, with Gary Vaynerchuk and the president of the NBA team Philadelphia 76, Darly Moery, among the most prominent investors. WAGMI United calls itself ‘the internet team’ and aims to build a new kind of fan base that crosses geographical boundaries. Among the group’s partners is none other than Adidas, which has taken charge of designing and producing the club’s shirts. The famous brand’s slogan: ‘Impossible is nothing’ seems to be shared by the young company, the ultimate goal is indeed more than ambitious. To take Crawley Town to the Premier League!

Barcelona studios sells 24.5% stake to Socios

Barcelona wants to join the Web3 scene and win more and more fans around the world. The Spanish club announced on Monday the 1st of August 2022 the sale of a 24.5 per cent stake in Barça Studios to Socios.com for $100 million. Barça studios is the division of the football club responsible for creating multimedia content for supporters. It will therefore be Socios from now on that will take care of the development of the brand’s Web3 initiatives, thanks to the support of the blockchain Chillz. The partnership between the two brands, however, is not really new. In fact, the collaboration had already begun in February 2020 for the launch of the $BAR Fan Token on Socios.com. Since then, over $39 million worth of fan tokens have been sold. What will the Web3 projects of FC Barcelona and Socios mainly focus on? Obviously NFTs and maybe even a metaverse. Socios and Chillz are establishing themselves as one of the most interesting realities in the ‘football and cryptocurrency’ scene also through illustrious brand ambassadors such as Del Piero and Lionel Messi.

Buy match tickets in BTC through the Lightning Network

Oxford City Football Club, a team from England’s sixth division, recently partnered with CoinCorner, a company specialising in Bitcoin payments using the Lightning Network. The Lightning Network is a decentralised network of nodes that allows a very high number of transactions to be sent instantaneously.This network is parallel to the Bitcoin blockchain, performs some transactions on the blockchain and some off-chain, and was created to solve the scalability problems of the network. If you want to learn more about it, have a look at our Academy article! The Oxford City initiative is not only about tickets. Within the RAW Charging Stadium (the club’s home ground), it will also be possible to buy food and drinks in BTC! The Bitcoin logo will also appear on the players’ shirts as a sponsor, alongside CoinCorner. Justin Merritt, the British club’s sports director, says the initiative aims to increase the education and adoption of Bitcoin in the UK.The popularity of cryptocurrencies in the UK has increased dramatically: a third of Britons are interested in the subject, and around 3.3 million citizens own BTC. So the answer to the question posed at the beginning of the article is yes! The football industry loves crypto!

Is the United States a model for mass adoption?

Criptocurrencies: 3 use cases in the United States

Is the US the closest country to crypto adoption? Here are 3 use cases of cryptocurrencies!

According to trading industry data collector and processor Forex Suggest, the US is the second best prepared country for mass adoption of cryptocurrencies. The parameters they used for the research was the number of crypto ATM facilities in proportion to the size of the population and the number of blockchain start-ups per 100,000 people. Mass adoption, however, goes beyond this. For cryptocurrencies to become truly mainstream, there must be supporting infrastructures in place, both technological and, above all, regulatory.

In this regard, a legislative decree recently passed will allow Californian political candidates to accept donations in cryptocurrencies. The city of Miami, whose mayor, Francis Suarez, has never hidden his passion for Bitcoin, continues with its pro-Web3 initiatives. Miami will unveil an NFT collection produced by a partnership between Mastercard, TIME and Salesforce in December 2022. Is the US a model for mass adoption? Let’s look at 3 use cases of cryptocurrencies in the US!

The country with the most ATMs in the world

Leaving aside the state of Hong Kong, which due to its very limited geographical extension and particular political nature can be considered a borderline case in the research, the US is the most crypto-friendly, mainstream adoption-oriented state. In fact, the country has about 10 crypto ATMs for every 100,000 inhabitants, one for every 271 km. 88% of existing crypto ATMs are located on American territory. As for the number of start-ups, the US scores around 0.6 for every 100,000 inhabitants. 

California approves cryptocurrency donations for election campaigns 

On 21st July 2022 the State of California announced that it will allow candidates for state and local political office to receive donations in cryptocurrency. The previous legislation, which banned political promoters from raising or receiving funds via blockchain, is thus permanently repealed. The law had been promoted during the bear market of 2018, more precisely in November. However, the donations recipients will be obliged to immediately convert the amount of crypto received into fiat currency. The legislation also states that the political candidate is obliged to work with a registered exchange to handle the transaction. The exchange must have confirmed the identity of the donor through KYC (Know Your Customer) practices by verifying name, address, occupation and employer.

Some might frown upon the compulsory instant conversion into fiat currency. However, when we consider that only four years ago California was so strongly against the practice that it was made illegal, this is certainly a step forward. Political funding using cryptocurrencies is one of the most interesting use cases in the US.

Miami teams up with Mastercard, TIME and Salesforce for an NFT collection

In terms of city initiatives, the United States also proves to be the most virtuous country when it comes to mass adoption. The city of Miami recently announced a Web3 project to experience the city at 360° with the support of major brands Mastercard, TIME and Salesforce. The project specifically entails the creation of 5,000 NFTs designed by 56 local artists. The number 56 was not chosen randomly, it actually represents Miami’s size in square miles.

The NFT holders will have access to the Priceless Miami Mastercard programme, which includes exclusive art experiences and events in the city such as gourmet dinners, private visits to museums, stays in luxurious resorts or spas and much more. The NFT minting process and secondary market will be all managed by Salesforce – a software, automation services and digital marketing analytics company founded in 2000. Third player in this partnership is the publishing giant TIME, which has been active in the Web3 world since March 2021 and has been a major player in the industry ever since, with its own NFT community called TIMEPieces. You might remember its iconic cover depicting Vitalik Buterin, Ethereum‘s founder. In August 2021, the city of Florida had already launched Miami Coin, a token intended as a sustainable funding tool for projects that support the city’s most disadvantaged communities.
With these initiatives taken at both state and local level, the US seems to really want to become a model for mass adoption. So, is the adoption of cryptocurrencies overseas closer than we think? These 3 use cases of cryptocurrencies in the US seem to confirm that this is indeed the case.

Young Monday: Gucci and ApeCoin, Mercedes and Polygon, Tinder

Gucci ApeCoin, Mercedes with Polygon, Tinder’s Metaverse

Gucci accepts payments in ApeCoin, Mercedes Benz relies on Polygon for artificial intelligence and Tinder backs down on the Metaverse

These days, you will not have missed the hack targeting Solana’s wallets. Despite huge losses, the blockchain was not compromised. Beyond this, the past week has been crowned with important collaborations between brands and Web3. Gucci will now accept payments in ApeCoin, the crypto of the BAYC (Bored Ape Yacht Club). Mercedes Benz will use Polygon’s blockchain to develop a data sharing platform. Tinder on the other hand is backing off, it will not be launching its metaverse and crypto (for now).

The Bored Apes go shopping at Gucci

Bored Apes holders, and ApeCoin holders in general, will be able to redo their wardrobe in style! The announcement came via a tweet on Gucci’s official page on Tuesday, the 2nd August 2022. The iconic brand described the decision as a further step into exploring Web3. Gucci had already made itself available to accept payments in twelve different cryptocurrencies a few months ago.

APE, the Bored Apes Yacht Club’s DAO governance token, is an ERC-20 token that was distributed to holders of BAYC and MAYC (the Mutant Ape Yacht Club’s NFT collection) on the 17th of March 2022 through an airdrop. For now, it will only be possible to pay with APE tokens at Gucci stores in the US. But the news about the Bored Ape Yacht Club doesn’t end there! Recently, Artsy Monke was created! An art project whose pieces were created thanks to Google’s artificial intelligence, Google Cloud Neural Networks. Their protagonists are the precious NFT monkeys. The AI has in fact transformed the 10,000 NFTs into abstract works of art using textual descriptions of the Bored Ape. This new type of art, commonly called generative art, is becoming very popular recently in the Web3 world. Pieces from the Artsy Monke collection have already been launched on OpenSea. If you are expecting exorbitant prices comparable to BAYC, you will be disappointed. The initial price was only 0.0001 ETH, or about $1.40!

Mercedes and Polygon: collecting data for artificial intelligence

What a memorable time for Polygon! After announcing a collaboration with Disney, a new partnership arrives this week with Mercedes. This time, however, it is not about entertainment on blockchain, but rather the collection and management of data for artificial intelligence and machine learning. The partnership will lead to the launch of the Acentrik platform. The main function of the platform will be the sharing and selling of data, Acentrik can be used to exchange information of various kinds depending on the company using it. Mercedes, for instance, will use Acentrik to exchange automotive data. Acentrik could help the car manufacturer overtake, or at least catch up with Google in the development of self-driving cars. Google is obviously far ahead when it comes to data collection, which is the bread and butter of Big Tech. Mercedes on the other hand is trying to make its way in the sector thanks to Polygon.

But what is Polygon’s role in the project with Mercedes? Polygon will handle all transactions on the platform. In addition to the native MATIC asset, users will also be able to use the most popular stablecoins such as USDC and USDT to register and thus freely consult a multitude of data recorded on Acentrik. For Polygon, this is a real coup in terms of image. The company proves once again, very shortly after the last time, that it is the ideal partner for big brands.

Has Tinder given up its Metaverse?

The Metaverse and crypto have not yet won over Tinder’s heart! The brand owned by Match Group has in fact decided to scale back the funds previously allocated for the development of Web3 projects. This is not an outright rejection of the project. The current CEO of Match Group, Bernard Kim, has stated that he does not want to abandon Web3 projects for good, Tinder will probably have a metaverse, but its putting into place may take longer than expected. The CEO explained that his intention to explore the digital goods sector is real, and that he is excited about the idea of being able to make dating and love possible in the metaverse. As is often the case in relationships, it is not always good to rush things. Kim believes that a lot of study and observation is needed to be ready to make the most of this new technology. Tinder’s plans were originally to develop a Metaverse in which users would get to know each other and socialise, and to launch a coin that would be dedicated to in-app purchases, the TinderCoin. So for now, no match between Tinder and the Web3, but don’t worry, nothing is lost. In love and in the Metaverse, whoever runs away wins?

What happened to Solana during the recent hack?

Solana hack: what happened exactly?

What happened to Solana during the recent hack? Here are the possible causes, and how other crypto projects reacted

In the late evening of Tuesday, the 3rd of August 2022, several wallets on the Solana network were hacked. The attack lasted several hours and its main target was the most popular hot wallet in the Solana ecosystem: the Phantom wallet. Hackers allegedly took possession of the private keys of some users. It was later reported that the hack may have originated from Slope, another Solana wallet. Although this attack was a blow to the network, the blockchain itself was not damaged and continues to function. Many engineers and developers, including from other blockchain projects, are working together to understand what happened to Solana during the hack and what the real cause of the attack was.

Did the hack compromise Solana’s blockchain?

Small spoiler: no. The hacker attack targeted Solana’s browser wallets, and in particular those that had been inactive for more than six months. These include Phantom, Slope, Solfare and TrustWallet. The attack would appear to be linked to the vulnerability of online wallets and thus compromised users’ private keys. In fact, if we look at Solana’s blockchain explorer, Solscan.io, the transactions appear to be signed by the ‘real’ owners.

Not only were SOL tokens stolen, but also other cryptocurrencies and tokens. The USDC stablecoin was affected in particular, and the stolen amount appears to be higher than that of SOL. The good news? Funds held on cold wallets and exchanges such as Young Platform, were not affected by the attack. In short, the hack did not compromise Solana’s blockchain but it did do so for several hot wallets.

How to protect yourself from attacks: differences between cold and hot wallets

The issue of security is central, especially when interacting with DeFi protocols as in this case. As a user, it is essential to know all the available wallet options and their specificities. Each type of wallet has both strengths and weaknesses. For instance, self-custodial wallets are wallets in which private keys are totally managed by users.  They can be hot wallets or cold wallets. A hot wallet is ready for use on any Dapp as it is always connected to the Internet. The convenience of having an always-online wallet is offset by a lower degree of security than other wallet types. Hot wallets are either browser extensions or desktop and smartphone applications and, if not kept offline, they are vulnerable to viruses or attacks. Some examples of this type of wallet are: Metamask, Trust Wallet or even the targets of the recent hack.

The other type of self-custodial wallet, on the other hand, is more like a safe: cold wallets. While they are somewhat more cumbersome to use, they are also more secure. Cold wallets are only connected to the internet while the holder wants to use their contents. Once the transaction has been sent, the wallet is disconnected both from the network and from other devices and is thus again safe from potential online attacks. If you want to learn more about the pros and cons of all the wallets out there, check out the dedicated Young Academy article here!

Solana’s most famous Dapp statements

Solana’s most famous Dapps were quick to speak out about the recent hack. Magic Eden, the main NFT marketplace, just announced yesterday that it would become cross-chain, starting to also accept offers in Ethereum for NFT collections. While the hack was underway, they reiterated the procedure to follow in order to avoid losing your tokens.

In summary, the NFT marketplace recommended creating a new Solana wallet and transferring your NFTs there first, and then your crypto. This advice is to be taken of course if a cold wallet is not at your immediate disposal.

In the hours following the attack, the Phantom team informed the community that they are working closely with the Solana team and other protocols. What is their objective? To understand what happened and why Solana’s wallets were hacked. The blockchain company also stated that it did not believe it was a Phantom specific problem. On Twitter, the wallet company stated: ‘Phantom has reason to believe that the reported exploits are due to complications related to importing accounts to and from Slope. We are still actively working to identify if there were other vulnerabilities that contributed to this incident.”

Emin Gün Sirer, CEO and founder of Avalabs, also commented on the Solana wallet hack. In the thread posted on his Twitter profile, he provided his community with some insight into trying to understand and explain what happened, reassuring those who held funds on centralised exchanges and cold wallets. Finally, he expressed solidarity with those affected by the hack.

We await new developments and information regarding the hacking attack on Solana’s wallets. Please check our blog for updates on this issue.

Chris Dixon of a16z joins OpenSea

Chris Dixon of a16z joins OpenSea

What happens when the largest NFT marketplace meets the Web3 promoter of the moment? Chris Dixon of a16z joins OpenSea!

Chris Dixon is one of the most prominent figures in the crypto industry. He is best known for being a partner in a16z – the venture capital fund set up in 2009 by Marc Andreessen and Ben Horowitz – and for his commitment to promoting Web3. Dixon is by background a developer with a degree in philosophy, and has been involved in emerging technologies since the beginning of his career. The largest NFT marketplace OpenSea announced on 30th July 2022 that Dixon had joined its board of directors.

Chris Dixon, why Web3 is so important 

Forbes named Dixon the No. 1 venture investor in 2022. He has backed projects such as Uniswap, Avalanche, and Dapper Labs, which launched CryptoKitties. Uniswap’s CEO and founder Hayden Adams praised Dixon for his ability to bring the worlds of traditional finance and DeFi together, while Dapper Labs CEO Roham Gharegozlou credits Dixon with predicting the rise of NFTs, ‘Chris saw this industry before it started’. In fact, Dixon’s blog and Twitter profile have been a reference for in-depth coverage of Web3 topics since the dawn of the crypto world. Dixon’s insights are both technical and theoretical, his contributions discussing the birth of ideas, the fundamental questions of Web3, and the social, economic and technological changes we are experiencing.  ‘Why Web3 matters‘ from 2021 is one of his most famous tweets that built the narrative of the internet phases, user-centricity and ownership. 

OpenSea, the NFT giant 

To date, OpenSea is the largest and best known NFT marketplace, with over 2 million collections and billions of dollars in sales. It is also one of the first marketplaces on Ethereum, and indeed it was founded in 2017 just as CryptoKitties were exploding and the world was starting to hear about blockchain. OpenSea was the brainchild of Devin Finzer and Alex Atallah, who in 2017 began engaging with users and early adopters on Discord. In addition to investment funds like a16z, OpenSea is backed by funding angels like actor and producer Ashton Kutcher, Ben Silberman, CEO and Co-founder of Pinterest, and Justin Kan, Twitch co-founder. OpenSea features all kinds of NFT, ranging across art, virtual experiences, music and virtual property certificates. Creators and artists have the possibility to create NFTs for free on OpenSea without necessarily having to know the technical workings of the blockchain. OpenSea was granted a new funding round in January 2022 and reported to have reached a valuation of USD 13.3 billion. 

Chris Dixon joins OpenSea!

Dixon officially joined OpenSea’s board of directors at the end of July, taking over from Katie Haun, who left a16z to establish another fund, Hain Ventures. Dixon was welcomed by Devin Finzer, OpenSea’s current CEO.  

Commenting Dixon’s arrival on OpenSea Finzer wrote, ‘Anyone who has spent time with Chris knows he is a principled, rigorous, and intellectually honest thinker, and he consistently pushes us to zoom out and make sure we’re solving for the long term arc of the NFT space.’

Splinterlands, winning battles with NFT cards

Splinterlands: the NTF card crypto game

Splinterlands is a collectible NFT card game similar to Magic and Hearthstone. Find out about the crypto game of the moment!

NFT card games were among the first crypto games to hit the play-to-earn scene. These games are easy to develop and integrate perfectly with the blockchain. In games like Hearthstone or Magic Arena, the cards you buy don’t really belong to you. In Splinterlands, on the other hand, every card is an NFT that you own on the blockchain, and you can sell it at any price, trade it or use it to destroy your enemies. Find out more about Splinterlands, the NFT card crypto game!

Splinterlands, the collectible NFT card game

Splinterlands is a collectible NFT card game created by two veteran game developers, Jesse “Aggroed” Reich and Matthew “Yabapmatt” Rosen. The two developers came up with the idea in 2018, and, after the Alpha and Beta phases, Splinterlands was officially released on 21 March 2021 on Hive Blockchain, at the height of the NFT hype.

The goal in Splinterlands is to collect cards and put together teams of elemental monsters that fight against other players. Each monster card has various special stats and abilities, so each one is suited for a specific role. For example, cards with a lot of Armour and Life are perfectly placed in the front line during fights, while cards with a lot of Attack or support abilities are ideal in the rearguard. In addition, each monster team is led by a Summoner – a special card that decides the team’s predominant element. There are 7 elements in Splinterlands, Fire, Death, Earth, Water, Life, Dragon and Neutral. Once you select your Summoner, your chosen Monsters must be of the same element. The Neutral cards, or mercenaries, are particular Monsters, i.e. they are wild cards.

Before a game, you must choose your team and position it. Formations are very important in Splinterlands, in fact, the card in the front line is the one that gets hit most often. So make sure it has plenty of Life and Armour! If it dies, it will be replaced by the nearest card in the rear. Beware, though, some Monsters cannot attack at close range, so make sure you put them as far away from the front line as possible. Other Monsters, however, have special abilities that allow them to hit creatures in the rear. A Monster with the Opportunity special ability, for example, will always attack the monster with the least Life. To line up a formation you must know all your cards and their characteristics thoroughly. 

Once you choose your team, all you have to do is watch the battle unfold! The first player to win two rounds wins the game. Luckily, Splinterlands, the NFT card crypto game, has very well-rendered animations, so there is no risk of getting bored.

How Splinterlands tokens work

When you first sign up to Splinterlands you get 105 so-called ‘ghost’ cards. These cards do not belong to you, but are given free of charge to all newbies to the game, to familiarise with Splinterlands. To start getting cards and tokens, you have to buy the Summoner’s Spellbook, which unlocks all the game’s features and allows you to connect to your favourite crypto wallet

The Summoner’s Spellbook is essential to become competitive on Splinterlands. NFT cards, unlike ghost cards, have levels. The higher the level, the higher the card stats. To improve the card level, you must fuse several NFT cards of the same type. You can get more cards by buying them directly from the official marketplace, or from other marketplaces such as OpenSea. Alternatively, you can buy Booster Packs, which include random cards of the set you have purchased, and can also include ‘Foil’ cards, which are very rare, have brilliant graphics and can gain experience faster. As they belong to you, you can freely sell NFT cards that you do not need, or you can lend them to a player. Each time the player wins a game with a loaned card, they will give you a percentage of the victory reward, in a similar fashion to Axie Infinity.

The game token in Splinterlands is called DEC (Dark Energy Crystal). These tokens can be earned by winning games or by burning your own NFT cards, if you want to get rid of them without going through a marketplace. You can use DEC to buy Booster Packs, different graphic embellishments for your cards, or various types of Potions (for example, some of them increase the possibility of getting Foil cards).

Splinterlands also has a second token called SPS (Splintershards), which is designed to manage the governance mechanisms. In fact, SPS tokens give you the right to vote in the  NFT collectible card crypto game’s DAO – owning them gives you a say in the crypto video game and the right to vote on new features or changes to the Splinterlands economy.
Splinterlands is a very exciting NFT card crypto game, capable of competing directly with big names such as Magic: The Gathering and Hearthstone. Magic, in particular, has a thriving market for ‘real’ cards, and Splinterlands wants to imitate it – but on the blockchain! If you’re not convinced you like the game, you can try it for free on their site. The tutorial is clear and concise and will guide you through the first steps, but then it’s up to you to create your own team and boost it! Each faction has a strength and a weakness, and it is essential to learn them in order to assemble a fearsome and well-trained Monster team. Splinterlands awaits you!

How does Young Platform Step work? The complete guide

What is Young Platform Step and how does it work?

Young Platform Step is the app that allows you to accumulate YNG tokens by walking, playing and learning all about the crypto world!

Young Platform Step is the ideal free app to learn about the world of crypto by playing games and completing challenges. In fact, every feature is a game on Step and if you win, you can receive a prize in YNG.

But what is YNG? It is the token of the Young Platform ecosystem, i.e. a cryptocurrency with real value in the market.

On Young Platform Step, you can start accumulating your first cryptocurrencies (YNG) and get access to lots of free resources to learn the basics of the crypto world, step by step!

How does a blockchain work? What is Bitcoin for? What are NFTs? With Step, we get down to business and answer all your questions, simply and clearly. But it doesn’t end there! Once you’ve earned your first YNGs, you can transfer them to the Young Platform exchange where you can take advantage of key crypto services such as buying and selling or the Earning Wallet. Find out how Young Platform Step works and what all the games and activities available with the app are!

How can I obtain YNG tokens?

On Young Platform Step, there are several ways to accumulate YNG tokens for free:

1.    Step and claim challenges

Step counts all your steps (if connected to Google Fit or Health).

With the ‘claim’ button, you can redeem them and accumulate them to participate in the Step Challenges (you will recognise them, they are the ones in the yellow boxes). You can get 0.10 YNG for every 10,000 steps and 0.15 YNG for every 20,000. On the other hand, the Fuchsia Challenges do not count steps, but all the times you redeem them. There are tokens up for grabs for these as well! Remember to redeem your steps every time you accumulate 4,000 steps, otherwise Step will stop counting.

2.    Step rankings

In the ‘Ranking’ section of the app you will find the step rankings! The challenge is to beat the other users in the Step community, and see who can accumulate the most steps in a time interval. You can join an existing ranking or create one, each of them has a limited duration and number of places. To participate, you have to pay a small share of your YNG. The sum of the shares of all participants will be distributed to the winners of the rankings. Furthermore, the more leaderboards you win, the more you progress in the Blue Challenges (you also get YNG with these).

3.    Quizzes

On Step, you can learn everything about the world of crypto, from the basics to the more advanced aspects. You can do this through the specific Young Platform Academy articles divided into six categories:

Blockchain to learn what the underlying technology of cryptocurrencies is and how it works;

Cryptoeconomics to discover the specific features and characteristics of the crypto economy;

Cryptocurrencies to delve into the main cryptocurrencies on the market, from their tokenomics to their use cases;

Crypto Heroes to get up close and personal with the protagonists of the crypto world, from Vitalik Buterin to the mysterious Satoshi Nakamoto;

Easy Economics to explore basic economic concepts;

Trading to inform you about the theory and practice of trading.

Each item is associated with a quiz that allows you to get YNG if you guess the correct answers. To take the quiz you have to spend one life. You are allocated 3 lives by default. When you run out of lives, you can recover them by waiting for the indicated time or watching one of the advertising videos.

4.    Up&Down

In the Up&Down section, you can try to guess whether the price of a crypto will go up or down by choosing a time interval between 3, 6 or 12 hours. For each correct prediction, there are YNGs up for grabs. The wider the time interval you choose, the higher the share of YNGs. Step counts all your correct predictions that advance you in the Green Challenges. Release the trader within you!

On Step you can also find the Marketplace, which allows you to receive cashback in YNG of up to 20% on purchases from selected shops such as Nike, Guess or Decathlon. Step is also your one-stop shop for news and the latest updates from the crypto world, selected for you day by day directly from the Young Platform Blog.

How can my YNGs be transferred to Young Platform?

Once you have accumulated your YNGs on Step, you can transfer them to the Young Platform app. From there, you can either take part in reserved promotions by joining the Clubs, or use them for trading. Young Platform is an exchange where you can buy and sell major cryptocurrencies. To transfer YNG from Step to Young Platform, you need to link the two accounts, complete a minimum deposit of 20 Euros and a minimum crypto trade of 20 Euros. The next day, you can create a gift card from Step and send your YNGs to Young Platform. You can find the process explained in detail here. The minimum amount of YNG that can be transferred is 45 YNG.

What is the YNG token for?

The YNG token is the utility token of the Young Platform ecosystem, i.e. a digital currency that has a fundamental and precise use within a crypto project. Many projects in the industry in fact also have their own utility token. YNG is the token that unites the community with Young Platform, as well as offering advantages. In a nutshell, what is the YNG token for? Why accumulate it on Step? Well, YNG facilitates your experience on the Young Platform exchange. With your YNGs, you can sign up for Clubs and get fee discounts, improved rewards in the Earning Wallet feature and more tokens in airdrops. YNG token is also a real cryptocurrency, that you can trade like any other.To learn more about how Young Platform Step works, please see all the dedicated Support Guides.

According to Vitalik Buterin, Meta, Facebook’s metaverse, is destined for failure

Vitalik Buterin: Facebook's metaverse has no future

According to Buterin, the Metaverse is on its way, but not as Meta intends it. Why is the founder of Ethereum so sceptical?

Vitalik Buterin doesn’t mince words! The founder of Ethereum stated on Twitter on the 31st of July 2022 that he does not believe in any of the attempts by established companies to build a metaverse. Buterin spoke out, responding to a tweet by Dean Eigenmann, a young developer of smart contracts on the blockchain. The statement concerns the concept of the metaverse. In fact, Eigenmann stated that he supports the abstract idea of the metaverse, but that in his opinion, he is convinced that the transition of people into the ‘virtual world’ will not happen through the way traditional companies are promoting it.

Vitalik Buterin agreed with the developer’s assertions, adding that already established tech companies that are now trying to create their own metaverse, such as Facebook with Meta, are not going anywhere! The Metaverse is generally described and imagined as a 3D online world centred on social sharing, which will be able to establish itself through the use of innovative technologies such as virtual and augmented reality. But according to Vitalik, it is so far impossible to imagine the use cases and predict the problems that the metaverse will have to solve. Paraphrasing Buterin’s thesis, any attempt to build a metaverse today is a step in the dark and pure experimentation, and as with anything new, the risk of failure is high.

Meta’s initiatives and the issue of decentralisation

Meta is going through one of the most difficult times since its founding. For the first time in its history, the company recorded a 36% drop in profits in the last year. It is nevertheless continuing to develop new software, with the aim of guaranteeing users a fully immersive experience. Meta Horizon World for example, is the first embryo of the Facebook metaverse. It currently takes the form of a virtual reality video game/social network in which users can create their own worlds. Meta is also working on a new physical product that will facilitate interaction with the Metaverse: the Meta smart glasses. With this new product, which should be released by 2024, it will be possible to record videos and interact with the virtual world through virtual and augmented reality technologies. Vitalik’s criticism, however, revolves around the issue of centralisation. According to the founder of Ethereum, it is precisely the very nature of companies such as Facebook and Microsoft that is at odds with the Metaverse concept. The strong centralisation of these companies does not fit at all with the basic ideas of these virtual worlds, and more generally of Web3, such as digital ownership and the total decentralisation of protocols. For Vitalik Buterin, the Facebook metaverse has no future precisely because it will not be on the blockchain.

An alliance for the decentralised Metaverse: OMA3 is born

In order to reflect on the decentralisation of the Metaverse, the Open Metaverse Alliance was created, a decentralised organisation composed of the major players in the field. The OMA3 is a DAO that operates as a consortium. The DAO is guided by principles of inclusiveness, transparency and decentralisation and is based on the important concept of real-time interoperability. Interoperability means the ability to interact with multiple protocols simultaneously and easily in a system where digital ownership is universally recognised. Let’s say we own, for instance, an avatar on The Sandbox; in a system where interoperability is guaranteed, we will own that avatar in whatever metaverse we are in.

Among the members of the organisation are established realities in the Web3 world such as: The Sandbox, Animoca Brands, Alien World and Decentraland. OMA3 is thus a body that verifies and promotes the decentralisation of metaverses, with the aim of creating a unified Web3 universe in which the ownership of digital assets (such as NFTs) is universally recognised and controlled by users. At the opposite end of this vision stands Meta, Facebook’s metaverse, with its centralisation of resources, data and platforms. The decentralisation-oriented work of OMA3 could avoid the failure of the ‘metaverse’ concept as envisaged by Vitalik Buterin. The future of the metaverse will play out on one feature: blockchain yes or no?