☕ Daily gm. 1 billion web3 users.

Gm gm,

Daily GM starts with an a16z annual crypto report this time because they showed us some valuable data from the NFT and web3 world. And they believe we are still somewhere around 1995 in a stage of development. Wow, exciting years ahead!

Enjoy!

A16Z released a 2022 crypto report and they agree we are still early. NFTs will help to grow web3 and web3 will help to grow NFTs. Interesting takeaways from the report.

1. The crypto markets go in cycles. Price drives ideas and activity, which in turn drives innovation. Though it might look like constant ups and downs, we see consistent long-term growth over the years when we zoom out. We are in the 4th cycle (2011, 2013, 2017, 2021), and the best opportunities of the decade are yet to come.

2. Web3 is much better for creators than web2. The average creator revenues by source are incredible👇

3. DeFi has grown from nearly zero to over $100 billion in less than two years, and it is now as big as the 31st largest US bank (by total assets under management). Impressive, yet still so small, and we will see a ton of growth in the coming years.😊

4. Ethereum is the clear web3 leader, with the highest number of monthly active developers building on it. The massive growth of layer 2 solutions is expected to help with scalability.

5. There are between 7 and 50 million active Ethereum users. Analogizing to the early commercial internet, that puts us somewhere circa 1995 in terms of development. Web3 could reach 1 billion users by 2031. Exciting years ahead.

Full report here.

goblintown.wtf dropped for free, got viral, and generated over $7 million in the sales volume. While we don’t know who created it, the goblins are everywhere. How come they got all the attention? 

First, fun concept that goes through recent bad/meme moments we all remember (market crash, azuki x phunks, steve aoki fun, kevin pixelmon, LUNA/Terra collapse, etc). Second, great timing (negative sentiment after the market crash - we want fun again). And the viral aspect. The royalties are 7.5%, so the team has made ~$550,000. Never bet against the culture!

Current floor: 0.5 ETHOpenSea collection: here

All nested Moonbirds received Moonbirds Oddities NFT in design collaboration with Gremplin. Oddities are a side project that PROOF has worked on in the past weeks. Reveal July 2022.

Current floor: 3.36 ETHOpenSea collection: here

Otherside First trip is scheduled for July 16th.

Beeple collabs with Veefriends for the next Gift Goat drop.

Hot NFTs

Source: Nansen.ai

Crypto Watchlist

Have an awesome Monday!

-beast

Disclaimer: This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions.