⛓️ The goods are digital but the business is very real - What The Block
Welcome back to What The Block, a newsletter packed with insights & intelligence about the Web3, Blockchain, NFTs and the Metaverse—written by me, David Klingbeil
A lot of the best new technologies feel slightly surreal when they emerge. At first, brands used web3 as a PR & communication tool only.
Little by little, they've discovered how NFTs, blockchain and the Metaverse could be significant business opportunities for them. Iconic brands like Nike and Gucci have sold more than $260m worth of their NFTs (including the lucrative royalties on secondary sales).
Similarly, it's been hard work making the metaverse a reality. Even Facebook is getting mocked for the dullness of Meta Horizon's graphics. Despite the focus, despite the billions…
…But believers continue to believe!
Firms like Invesco, Nvidia and The Sandbox are investing hundreds of millions in the metaverse. It's early days. The seeds have been sown but the crop isn't fully grown.
But probably something though...
Through this newsletter, I hope to make the world of web3 more accessible and entertaining by curating news and insights that will make you think... What the Block ?!
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PS: feel free to hit reply to leave a comment, I read and answer every message
*We’re All Gonna Make It, a popular way to cheer in Web3 ;)
Iconic brands including Nike, Gucci have made $260M off NFT sales
Street Art NFTs: How Graffiti Can Embrace the Blockchain
ERC-4907 – The Next NFT Standard for Renting Digital Goods
BAYC Creators Interviewed as NFT Lending Crisis Looms
What are Sports NFTs and Why are They So Popular?
💸 Cryptocurrencies & DeFi
Feds Didn’t Just Sanction Tornado — They Forgot Code is Free Speech
Kraken CEO Jesse Powell discusses how we stood the test of time
Wallets Banned by Uniswap Labs for Alleged Crimes
🕹️ Gaming & the Metaverse
Metaverse promises: Future of Web3 or just a market gimmick?
Invesco Unveils Multi-Million Dollar Metaverse Fund
The Sandbox Invests in INDEX GAME to Boost Its Metaverse Experience
NVIDIA is officially all in on the metaverse
Zuckerberg Mocked for Horizon Worlds’ Metaverse Graphics
Alphabet, Samsung among 40 Big Companies Investing in Blockchain
A16z Crypto Lead Slams Web 2 Giants, Says Decentralization Is the Future
South Korea To Impose 10-50% Gift Tax On Crypto Airdrops
Token Gating Benefits and Use Cases (via NFT News Today)
Token Gating is a new method of controlling and restricting access to content, which is provided exclusively to customers who have bought a token or NFT. In this case, the token or NFT serves as an access key, which companies verify by connecting the customer’s digital wallet.
Platforms or content authors decide what benefits are available to token holders. Generally, to access token benefits, users need to connect their digital wallet to confirm that they really own the token or NFT. The content becomes available only after verification. Platforms set a fixed amount of tokens a participant must have in their digital cryptocurrency wallet to access a community or content.
The concept of secure access has a long existence and is not something revolutionary. However, using it today, many platforms and authors have at their disposal a strong set of tools for creating closed, controlled access to tokens. This is all thanks to the emergence of cryptocurrency tokens and NFT.
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