August 1st, 2021 - Thatguyintech's Weekly Update
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August 1st, 2021 - Thatguyintech's Weekly Update
1 week in crypto truly is 1 month in real life 😅
Lots of interesting news this week, much of it related to price. Crypto markets are green, NFT projects are blowing up (in a good way), DAO tokens are spiking…
Is it ok for us to be having this much fun?
Crypto & DeFi
It’s always a roller coaster ride in the crypto space. Remember: if you want to buy, always consider DCA-ing. Don’t know what that is? Watch my video below :)
Bitcoin peaked back above $42,000 👀 Are we in a crypto bull market again? CoinTracker has a story.
I made a video advising people to NOT buy crypto unless…
“Crypto is more than just trading. It’s about people participating and becoming owners.” - Brian Flynn, creator of rabbithole.gg, a decentralized web app that allows you to earn crypto for finishing quests, learning skills, and taking on projects. It’s a pretty cool platform I’ll try to dive into in the future to earn some supplementary income :)
"Crypto is more that just trading. It's about people participating and becoming owners" - @Flynnjamm great discussions going on in today's FWB c̶o̶f̶f̶e̶e̶ tea time 😁☕️𝒸𝑜𝒻𝒻𝑒𝑒 𝓉𝒾𝓂𝑒 with @derekgtaylor & special guest @Flynnjamm of @rabbithole_gg. we're gonna have a leisurely chat about THE UNIVERSITY OF THE METAVERSE and how coordination fuels the orgs of the future. today at 11a LA / 1p NY / 9p GMT, only on FWB (in the voice chat)
Friends With Benefits ($FWB) 🤌 @FWBtweets
NFTs
Holy crap, what a week for NFTs.
This cool new site rarity.tools that aggregates and ranks NFT projects. The key things to watch out for are Volume and Owner Count. My understanding is that the higher these two metrics are, the healthier the projects are, and the better the chance you’re not going to lose money holding an NFT from these collections.
Volume tells you how active the community is in trading the NFT.
Owner Count tells you how decentralized the project is vs whether a couple of whales own all the assets.
So much happened in the Leoverse this week. Up from 60 ETH traded, CryptoLeos hit 100 ETH volume traded across 116 owners! If you want to know more about this project, check out my write-up here. CryptoLeos is the perfect example of an early-stage NFT project that is executing the community-building playbook to a T.
CryptoLeo #200 sold for 4.5 ETH on live stream (Gersch’s reaction is too funny 😂)
People are buying lotto tickets to try and win a CryptoLeo (link)
There is now a derivative project that is also taking off, Tripped Out Leos, made by community members @GummyLSD and @MetaMushrooms
My CryptoLeo rap sold on the secondary market for 1 ETH!!!
The first CryptoLeo Oscars featured 9 winners! Winners receive an exclusive Oscars NFT.
Gary Vaynerchuck, media mogul and now NFT spokesperson (😂), paid $3.7 MILLION DOLLARS for a CryptoPunk. More at Dekrypt.co. Some of my thoughts:
Ashton Kutcher & Mila Kunis dropped Stoner Cats, an NFT collection where owning one allows you to watch their new animated series about a grandma and some cats getting high. The NFT drop was so popular, and so many people rushed to buy them, that Ethereum gas fees went up to ~$300 just to attempt a purchase. In total, people gave up ~$800,000 due to failed transactions. Gas fees are a huge concern amongst crypto users, and lots of solutions are popping up, but it still remains to be seen which ones will play out.
DAOs
This is my second week getting actively involved with some DAOs! If you don’t know what they are, DAO stands for “decentralized autonomous organization”. From what I’ve seen, there’s a huuge range in how these orgs are run, and what their purposes are. But they all have one thing in common: give the members control, and let them run free to see what magic happens.
I attended two events with FWB (Friends With Benefits DAO) and talked to some cool people:
One event was with Brian Flynn of rabbithole.gg, talking about how to let people earn crypto via learning and doing quests on the internet. I think this has the potential to be a huge advertising model of the future in web 3.0.
Another event was a town hall discussing the future of FWB in terms of funding, investors, and getting contributors paid $$$. Some really cool ideas brewing here to increase value towards members, just for participating, having fun, and vibing. It’s a wild concept to me.
Some people from the DAO even reached out after watching my Music NFTs and Copyrights video to give me tips for finding music and even offering to work with me to produce music!
The $FWB token price has spiked from ~$12 per token up to ~$24 per token. Holding 75 $FWB tokens (and applying via google form) allows new members to join the community. Either a lot of people want to join all of a sudden… or something’s pumping this token for some reason. Either way, I’m not mad. 😂
I’m excited for @RenaissanceDAO, a group that’s organizing to pay crypto content creators for educational material on the crypto space. I’ve met a number of the founding members, and they all seem like motivated and involved crypto creators. There’s huge potential in this idea and this team, and the first project(s) may be coming up in a month or so.. so keep your eyes peeled 👀
@FiatLuxDAO, the UC Berkeley alumni DAO that purchased this epic NFT to help fund innovative research, is now following through with Syndicate to complete paperwork and incorporate as an LLC.
Misc.
Here’s a vlog of me eating quesabirria tacos in San Mateo with my friend Gabe:
Yesterday was day 1 of the Crypto Creator Mastercourse Fellowship with Nas Academy! (I feel like I’m always saying it’s Day 1 of something but honestly… it IS ALWAYS Day 1 for something 🔥) I saw a lot of familiar faces and it was good time catching up and preparing for the month ahead! I’ll need to make 6 x 3-minute videos about crypto in order to qualify for the 1 Ether payment for this month. I’m brainstorming some ideas for giveaways and trying to build community through my videos.
Thanks for reading this week’s update! Please say hi or leave a comment, it really helps me stay motivated to keep writing these :)