Web 3.0 & the State of the Market

Journey into Web 3.0

Where is the best place to start to journey into Web 3.0?

The best way to start is by getting your feet wet and jumping into events and joining communities!

1. Join community discords. (Bitcoin, NFTs, Crypto, etc)

2. Jump into Twitter spaces events in Web 3.0. (Search the twitter tab)

3. Socialize & network within communities.

4. Contribute to the ecosystem. (blog, Twitter education, YouTube, Podcasting)

Be an active member, observe and participate in discussions and events. This indirectly will help build experience and credibility. Engaging with others and networking will help you understand the culture/etiquette in a given space. The culture within any space is important in order to understand how projects are expected to function/operate in the ecosystem. Attend Twitter spaces and or discord stages events. These events will allow you to communicate and participate in community-led conversations. This will allow anyone crypto-curious to engage with communities and secure their place in the ecosystem.

Currently, Discord serves as the meeting place for most Web 3.0 communities. Here are some active Web 3.0 & Bitcoin communities that you may be interested in joining!

• STACKS | Official discord server of the Stacks Ecosystem

• GAMMA | NFT Marketplace + Creator onboarding server

• Tradeport | NFT Marketplace server for various blockchains

• AIRDROP | Podcast + NFT education

• The Greenery | NFT + Crypto native community

• JRNY | Web 3.0 Community (My Discord Community)

StacksParrot NFT Gallery

StacksParrots is an NFT project built on the Stacks blockchain, secured by Bitcoin. Stacks is a layer-1 solution that uses the Bitcoin Blockchain for security and settlement. Stacks is an extension of Bitcoin which can be considered the smart contract layer on Bitcoin i.e NFTs, Metaverse projects, DAOs, and more!

The team has built out an innovative first-on Stacks. Specifically, a Web 3.0 virtual NFT Gallery. Where token holders can access their own digital gallery of all of their Stacks NFTs, which adapts as their collection changes over time. It also contains an audiovisual player for all your audio, and audiovisual NFTs which can be queued up and played in a playlist as you navigate your gallery, or just to listen to as you get on with other things. Although it's a bear market, that's no issue for these parrots! Check out some of these images from the Virtual NFT Gallery.

The Web 3.0 Discord Killer

There’s a new Web 3.0 alternative application in town”,” and it's coming to get rid of discord! Let’s break down what Discord is, and why it can be an issue as web3 progresses. 

Discord is the Web 2.0 community chat, it currently serves as the meeting place for most online communities. Unfortunately, discord has a history of being susceptible to hacks and breaches leading to the loss of millions of dollars. 

According to TRM Labs, “The NFT community has suffered more than 150 compromises targeting NFT projects’ Discord servers since May 2022…The NFT community lost an estimated $22 Million”.

Here is an example of hacks + phishing attacks commonly seen in Discord.

Luckily, there is a solution to this! The Console App is a Web 3.0 discord killer application. Console prioritizes security in its design which is done in three ways: open source software, identity verifications, decentralized transactions, and community DAO’s.

1. Console is open source, meaning that you can read Console’s code and fully contribute to its repo, which allows anyone to make suggestions to revise Console. This is done in order to make it fully suitable for Web 3.0 communities.

2. Unlike the web2 social media apps out currently Console removes the traditional login methods (Username + password) and Instead, users verify their wallets to a wallet (Hiro or MetaMask). This is done through native smart contracts where user identities are stored on the Bitcoin Blockchain itself instead of third-party services.

3. It will also allow for voting, identity verification, and multisig transactions will be on-chain and decentralized. However, chat history and file storage will be centralized in order for speedy responses and storage.

   (4) According to Console, After the official release, “we will release ConsoleDAO, an organization with the mission of influencing, contributing too, and sharing Console’s future growth”.

100$ Trillion Transaction Volume

The total value of transactions on the Bitcoin Blockchain has exceeded $100 Trillion USD. David Puell, an on-chain researcher at Ark Invest, discovered that the network had transferred over $100,000,000,000,000 since it was created. The Bitcoin Blockchain achieved this milestone without an entity like a bank, institution, or third-party service.

Bear Market Adoption

Both the traditional markets and cryptocurrency markets are currently in a bear market. However, there are HUGE mainstream adopters taking full advantage of the current market conditions and buying up Bitcoin, cryptocurrency exchanges, growing communities, and building innovative products.

BlackRock, an American multinational investment company, recently made headlines by partnering with Coinbase to create a spot bitcoin trust only accessible to their private clients. BlackRock's institutional clients will be able to own, trade, and own bitcoin outright through self-custody services.

Joseph Chalom, head of partnerships at Coinbase says, “Our institutional clients are increasingly interested in gaining exposure to digital asset markets”.

This is incredibly BULLISH! On top of BlackRock aping into Bitcoin, JPMorgan released a promotional Bitcoin and cryptocurrency commercial. The commercial highlights Web 3.0 buzzwords and JPMorgan's offering crypto services to cut through “noise”. JPMorgan has called Bitcoin every horrendous name imaginable but is now completely capitulating to get as much Bitcoin as it can for its clients.

Binance is also helping the Philippines with crypto regulation and education. Binance sat in on a senate hearing in the Philippines where members were discussing crypto regulation and offered to lend a hand in order to educate the youth.

Kenneth Stern, Binance’s General Manager for the Philippines, claims that “We strongly believe that the crypto industry can greatly benefit the Filipino people through addressing the necessity of financial inclusion through digitalization. 78% of Filipinos remain unbanked, but crypto can help decrease that number as crypto asset holders will soon surpass the number of credit card holders in the country.”

The congress members agreed with Binance and are now offering Philippine Universities and Business groups free courses on Bitcoin, Crypto, Blockchain, Web 3.0, Metaverse, and more!

These partnerships are just starting as we see the world turning still to focus on Bitcoin.

Thanks for tuning in fellow travelers!

Please check out the JRNY platforms. Subscribe to the Jrny into Web3 Newsletter to stay up to date with all the Bitcoin + Web3 News. Until next time, let’s JRNY forward and seize the day!

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You are receiving The Jrny Into Web3 Newsletter because you either signed up, follow my socials, or know me from Stacks. Nothing in this newsletter or email is intended to serve as financial advice. Do your own research.