Web3 Rollup: Consensus review, soulbound tokens and multi-sig wallets

Transcript

what's up friends welcome to web3 academy a place for entrepreneurs creators and marketers to explore and learn how to use web 3 to transform business models and create thriving communities enjoy this next episode gmgm welcome to web3 academy it is the weekly roll-up coming at you it's jay hamilton here coming at you from toronto this week uh and my co-host as uh as always kyle read head what's up kai what's up guys my last my last episode in mexico city after that i head to toronto as well i'll see you soon he's coming home he's coming home he's coming home

sue is happy he's coming home he was my mother all right this week on the weekly roll up uh man big big news week lots happening uh it might be a bear market but [ __ ] is going down i mean [ __ ] is literally literally we're gonna update you on what's going on with some liquidations uh some not so good news coming out of of crypto uh and then we're gonna lead in to what's going on in nft innovation we got some exciting nft innovation uh seth curry launching an nft a lot happening in hollywood around movies and nfts that we're going to talk about we're going to jump into talking about jobs

both on the good side and the bad side some people laying off uh you know it's tough at the bottom but some people building and hiring big time lots of lots of hiring happening that we're gonna highlight really exciting to see uh we're gonna talk about what's going on with the ones and twos uh a new announcement out of immutable x and then we're going to finish up with uh the web3 tool of the month month and we're going to talk about multi-sigs and how they work an important thing to understand if you haven't used a multi-sig before you're going to want to listen to this um yeah did i get everything there kai anything that i missed no i think you got it man this is going to be a jam-packed jam-packed session we're going to talk about markets a little bit in the beginning because i think we just

have to because that's where most of the news was this week thankfully our team found lots of other news going on in the web 3 world outside of markets and price so we will definitely get into a lot of that but we got to talk markets a little bit that's that's where we're going to begin but before we begin let's take a moment to share some gratitude kai you go first what are you grateful for this week i'm grateful for good coffee mexico city just has incredible coffee and so many cafes for any of you guys that follow me on twitter you see almost daily i'm posting uh like my my work set up in a different cafe i try to go to new cafes every day and try out different coffees and just yeah mexico city does it well they do it really well i'm going back home to

canada i'm not gonna be too happy you gotta drink like tim hortons so i got to be grateful for what i have right now uh i am grateful i'm grateful for nfts and community uh i am gearing up to go to nft nyc next week if anyone's going to be there hit me up i would love to meet you in person and it's been really exciting gearing up to it a bunch of the nfts that i hold in my bag are having parties lunches events uh i just feel like discord has gone it's been going off recently like there's just a lot of excitement leading up to nftnyc and it's really cool to see the communities gathering in person and not

just gathering online and all the things that they're planning community is just such a powerful part of web3 that we talk about all the time and i think i forgot that it was in person you know we've been online for so long so it's really exciting to see the combination uh of the in person and the online coming to life and really what that means for us yeah it's it's badass it's wicked are you doing next week's roll up live from nftnyc or we're gonna switch in someone else i think i know i i think i think jeremy is filling in for me next week i'll i'll be i'll be in nfta nyc i'll roll up with anybody who wants to come hang out with me uh there all right

kai if you want to if you're looking for jay at nfc nyc he's really damn tall and he has really long hair and he's cool as [ __ ] i'm pretty i am pretty i'm 665. six five and then i kind of look like jesus i don't i don't i don't really like that might not be appropriate to say but i really do i actually once uh auditioned for the role of jesus in a uh tv series this is not a joke this is dead serious uh and i was cast for the role uh and i was pumped i was like i'm gonna be in this like it was like history channel uh type you know like not a big show like you know documentary where you have no lines and they just like uh read over

top of like actors doing things um but i was away for work when the filming was like one week and i was away for work so i i had to turn down the role it was my my big shot into hollywood it never played out a game for the for the audience for the listeners here uh if you see jay at nft nyc just look for the six foot five long hair dude and uh make sure to go and you guys get a selfie and jay will jay will share it on on twitter and we'll try to we'll actually put it in the roll-up of all the people that you meet that are listeners of webster academy so hopefully we can uh hopefully you guys can spot them all right okay let's start with uh oh web three word of the week kai what's the web to

your word of the week it's max payne we're here we always hear max payne and i think we're basically here uh we even now as i speak i'm pretty sure markets are almost as low as they've been um you know eth is sitting at 1100 it was just under that and uh bitcoin under 21 21 000. um we've reached max payne and we're going to talk about why we've reached max payne um i've written a lot of articles well not a lot but a few articles and just like what i think is going on in the space and mainly it all has to do with macro um but the max pain we're going through right now actually has to do a lot of with a lot of greed and just like um people in this space that are just over leveraged and just

yeah just greedy people and it's impacting everything because they're becoming for sellers and we're going to talk a little bit about that here as we get started should we jump into it jay yeah let's do it okay so the first news oh wait wait before before we get into the news let's talk quickly about uh jobs and opportunities and what we've got going on there yeah so actually um we just did our first uh web 3 coll doer collective drop so meaning we curate a bunch of talent we have a bunch of devs bunch of project managers community managers marketers social media people um the list goes on designers whatever you need there's tons of them um and they've all signed up for our talent

collective and we did our first drop which means any companies that are hiring right now um if you want to just go and find these people and directly just talk to them instead of waiting for them to come to you you can literally just scroll through our talent which is a bunch of people who are um experienced in web 3 and experienced professionals and if you want to just go and dm them and reach out to them you can do that you just subscribe to our talent pool um the link is in the show notes below but there's a ton of really smart really cool people in there um they love web3 uh some of them are experience web3 some of them are new to web3 but are you know super interested passionate in learning um but it's all people that have some pretty incredible um backgrounds and

work experience in just the traditional world and um so if you're hiring right now which i know a lot of companies in web3 are um go check that out there's a ton of people there for you and honestly we're getting like a few people signing up for this collective every single day so there's tons of people in there tons of talent and we're trying to connect to you guys so make sure you go and check that out um asap okay now let's get started on what's going on in the markets today um over this last sort of couple weeks the biggest thing that's happened here is celsius you guys may have heard celsius is a centralized um called a centralized exchange but really what they are is a place to um hold your crypto and they will give you a yield

and you can put your bitcoin in there your eth whatever they have i don't know probably 20 or so different tokens and what they do is you you lend them your crypto or you put your crypto on their platform they take that and then they go and lend it out and they do like they trade it they do a bunch of things to try and make more money so they can pay off this yield um now it's a centralized company it is not web3 it is not defy it is a centralized company just like a bank when you put your money in a savings bank they do the same thing they go and take that money and do things with it right um and unfortunately what happened was celsius got a little too i don't we don't really know exactly because they're it's it's completely hidden right now right it's

not on the blockchain so we can't see exactly what they're doing but i assume they got a little greedy um and basically what happened was last sunday night um everyone who's in celsius got an email saying that they have paused withdrawals um and pause transfers et cetera so you actually can't even take your money off of the exchange which is the whole thing we you know this industry talks about which is not your keys not your coins well we're seeing this at scale cells this is one of the biggest in this industry i think they had about 30 billion assets under management at kind of probably the top um but basically what happened or what's happened with celsius is they were taking all the users a lot of the users

assets and then going into defy and leveraging up so basically putting it in getting a loan against it and then investing that and so on and so forth and what happened was um the big mistake they made was there's um you can stake your eath right now in a protocol called lido right um there's a few different protocols and in return you get staked s-t-e or steath people call it or steph i don't know um and but that eat that you stake you cannot remove right now it's in the beacon chain and they don't have the ability to remove that so on places like coinbase if you want to stake your east to get steath or steth you can do that but you can't remove

your eath it's stuck in there until that ability to remove is built into the blockchain um which is probably about a year away well celsius allowed people to put their ether in get the five percent apy or whatever it was but you were still able to remove your ease which doesn't really make sense because them on the back end who's staking your ease for you they can't actually remove it so there was all these rumors about well celsius is getting liquidated because they leveraged up too much and they have like i think it was 400 000 staked eats or something like that it's a lot and so people started removing their assets um i got wind of this and thank the lord last week i removed a lot of eth from celsius that i had on there and

a few days later we get this email that they had to pause with trials because so many people were trying to get rid of their eath and they didn't have enough eats to give it back um so they had to pause it it's still paused um and we don't really know what's to happen they just sent out an email this morning that they're working through things but we'll see but the problem is is a lot of their assets that they had were getting liquidated and so this is what was they became what's called a forced seller and basically they had to just sell a bunch of assets to either try to bring the liquidation number down so they don't get liquidated so basically adding collateral to their loans um and a lot of it just got liquidated and forced sold so this is the big reason why we

actually had this huge market drop um more than we kind of expected i think and it's been a bit crazy the last like week or two is because they've been forced to sell like hundreds of millions of dollars worth of eth and of bitcoin uh and whatever other tokens that they have so absolute mess um and uh let's let's continue on the next one celsius isn't the only one um so uh actually so celsius um there was a company called nexo which is another centralized exchange they actually are um put in a bid to buy out celsius to give them some liquidity and and uh and actually save some of these liquidations again don't know if it's going through or not um we haven't really heard any news on that yet but um we'll see um

then all of a sudden out of nowhere and so you think about where this whole let's talk about the bear market here you know things really started to go haywire with luna right when that whole thing sort of um hit the fan and once the fed started raising rates and there was the markets became less liquid you know anything that was over leveraged basically gets shot in the foot kind of thing and so ust went to zero and then it's like okay well what's going to happen next then it was celsius and now we have three arrows capital um which is the founders of suzu and kyle davies um and all of a sudden there was some tweets of like what's going on here and um throughout capitals one like the largest hedge funds uh in traders in the space um they're they're pretty well

known and they have billions of dollars under mass uh assets under management as well and all of a sudden it looks like this week it was i think two days ago um whatever his name is um he came out and said go back to the suit there yeah we were in the process of communicating with relevant parties and fully committed to working this out that's all he said so no one really knows what that means again this is a centralized company that is doing a lot of trading and leveraging in the background um but basically what we found out from one of their i don't even know what you would call these people but um there's this trading company where they go in and they use some of the funds that 3ac has and they go and trade in the background with it and basically all of a sudden they

stopped um hearing from 3ac and 3ac pulled a million dollars out of their account um and then they messaged them and trying to get a hold of them and just they've it's been crickets they've heard nothing and so what they've seen has happened is basically 3ac was over leveraged it was long like everything going into this bear market and they just started getting tons of liquidations as well um and they have some big positions that if they get liquidated it could be also really bad for the market um and so some scary things happening um with centralized finance at the moment and people just getting greedy and over leveraging um and it's weird because we just we don't really know what's going on and it's very um

similar to what happens in the tradfy world and it's kind of why we're building defies because we want everything to be transparent right if we're going to give our money to someone we should know where that money is and what's going on and what they're doing with it and with all these sort of traditional finance hedge funds and neo banks and things we just have no idea and look what's happening people get greedy and and they they lose everyone's money and it's a little bit insane and so this is a good tweet that um ryan shawn adams from bankless put out um he actually tweeted it was a june 13th just a couple days ago and he goes um you know luna with a check mark celsius with a check mark who's next in the bear market detox um it doesn't feel good but this is how we get healthy right we get

rid of the leverage we get rid of the scams things like that um and so he tweets that out and literally the next day all of a sudden it's okay 3ac another big one and so now he's like who's next uh i don't know who's next hopefully this is it um one thing i can say is it looks like all these liquidations that are happening with celsius and 3ac are somewhat under control um they've been able to get more liquidity and bring that liquidation price down um i think celsius has this like bitcoin liquidation of like 180 000 bitcoin or something um and it was at like 20 000 if it hit then it was gonna get liquidated and it was really close the other day they got a bunch of funds it's down to like 000 as a liquidation number um so

we'll see what happens the next couple weeks are going to be a little scary but hopefully uh they can get the funds they need and liquidity they need and we can prevent a lot of this for selling because that's really what's happening right now um and so just one thing to note here that i think um the regulators are not going to understand unfortunately and i think a lot of the industry doesn't quite get um but uh jake travinsky i don't know where in this tweet he says this um basically the point that jake is making here is the problems that we're seeing in crypto right now are actually not crypto right these are just other versions of

traditional finance like normal banks but holding crypto assets um but if we look at oh here it is i remember march 2020 when the pandemic crash took down centralized exchanges and threatened to break the immature defy ecosystem today the exchanges are all online and d5 protocols are smoothly and transparently handling hundreds of millions in liquidations so basically what's happening is crypto really started because we hated what the government and the traditional banking uh infrastructure was doing right it's this very like hidden um uh hidden kind of services where we don't really know what they're doing with our money and it's you know a couple guys at the top that are controlling it all and

deciding what happens and no one else really knows what's going on and we saw in 2008 with that crash it was basically what we're seeing with celsius and that of just people getting greedy over leveraging that's what happened in 2008 um and so what's interesting here is with this crash the c5 um the c5 company so centralized finance they are the ones that are getting liquidated and having all these issues and basically going under and needing bailout right like celsius needs a bailout essentially um but d5 protocols the things that we have built what web 3 promise is they're doing great they have no issues they don't need a bailout they're not breaking um they're doing exactly as we plan them um to do and i think that is really really cool is basically like

what we're building is working um and now there's still obviously a lot of these sort of centralized entities that are around crypto unfortunately and they are going to make us look bad and they are the ones that are bringing these prices down so much um but we're on the right path and what we're building is working and i think that is really cool yeah i think that really it's don't don't get caught taking one headline or even a few headlines as an indication for the entire industry it's very easy right the media is going to push the click bait headlines such as you know celsius and 3ac you know lick being liquidated or being insolvent and everyone's like oh my gosh you know freak out panic and certainly there's a

contagion effect and there might be more but when you step back and you look at the bigger picture you know when we go through this there's going to be some some some people that lose and don't make it but on the whole like we're we're doing well like the industry is is doing great through this bear market and that's that's a huge testament to what's being what's been built so far web three and definitely right yeah yeah yeah there's this like there's this this um all these centralized entities that wrap themselves around our industry and they become part of our industry right and that's the problem is like we don't want

those people because um they're not they don't follow the ethos of what we're trying to build here in d5 and in web 3 and so um but yes you're right don't follow the headlines uh i'm sure the headlines are going to get way worse bash in this industry but it is what it is um but the good news is we can see that it's all working and fine um and some of the d5 programs i'm talking about is like if you look at ave compound uniswap like these are all the defy blue chips that just they're still doing great they have no issues and in fact this is really really cool news that came out last night uniswap labs just announced um that they have stacy cunningham who's the former president of the new york stock exchange coming on as an advisor to uniswap labs um so that just shows

you know um how i think innovative and uniswap is and how this is is likely going to be the future of uh of exchanges right of exchanging equity and exchanging tokens et cetera um and you can just see that by the former president uh getting on board and um and wanted to be a part of unit swap which i think is pretty cool um this is awesome yeah this is awesome it legitimizes the industry i think um and so just to wrap up this whole market side of things one of the things you know on this podcast we talk about web three we don't necessarily talk about markets and so a tweet that i put out that it seemed a lot of people liked was

i'm excited for um i'm excited for web 3's focus to transition from token price and charts to utility and experience right now web3 is still just crypto it's a bunch of useless tokens that people speculate on under the hood though web3 is building some super cool things not possible in web 2. and really what i mean by this is like crypto started out about money right it was all about money and then d5 came along which is still about money it's about banking services for money but i think what a lot of people don't understand yet is that web3 is completely different it's not about money like yes everything is financialized right um because we have tokens for everything whether it be nfts

or fungible tokens but that's not really the true unlock the the unlock is this like being able to own it and the interoperability and then all the experiences and utility that you can create around those features um and you know looking at things like lens protocol and owning our social graph like that is so important um and just a lot of the stuff on like voting and governance and bringing together community and all this incentives and things like an access with nfts across different platforms there's so much utility coming to the space that's not possible in web 2.

and to me that's the thing that i'm most excited about in web 3 is like the tech side of it all and rebuilding these applications and platforms that we do and use every single day on the internet more than i am about the money side of it though that is super important and is going to impact billions of people as well but just i think right now we are still just web3 is just crypto we have all these tokens with not a lot of utility everyone is speculating even in the nft space even the nft space yeah most of these enemies have no utility and it's just people i think that's that's like i think we all realize at this point that nfts are what is going to onboard billions onto web3 but

nfts right now is just a financial play like basically everybody's just buying nfts to make money it's an investment you hear about nft collectors nft traders i mean lots of discords chatting with these people all the time there's people there's tons of people that are full-time nft traders like that is the biggest like job that has come out of nft so far that that is going to be you know five years from now you're not going to hear about that at all that's that's going to be the smallest part of this right and i think this is a really good point of uh that we're sort of missing you know what's the the saying you're missing the forest through the trees yeah um you know we're really we're really

missing the bigger picture here uh because we're so focused on making money but we're building something way bigger that and yeah it's important to recognize and and i hope that the next because look money is still like obviously number go up is what's going to bring in a lot of people still well that's never going to hurt tokens whatever it's still every time we do that a lot of people come into this space um my hope and i thought it was this time around was that there was enough utility in the space that it would keep a lot of people in um but it was like the utility is somewhat there the ux is definitely not there and it was like it wasn't enough to keep people in but it's getting there it's close

and i think so you know the next bull run i think a lot of people come in and i mean look a lot of people stayed versus the last um bear market and i mean we're not through this one yet so let's see what happens but there's definitely still lots of excitement lots of hiring lots of people in here and lots of innovation still happening which is great um but i'm just i'm excited for this stuff to be less around the money and more around the utility and yeah which is which is really what we are all about here at web3 academy right is how can you use web3 for your business for building a business and for for for better for humanity for better for your members right like this is about business models transformation not about how to just grab the most

money so yeah great great great point kai speaking about uh innovation and really taking it to another level uh jack is back and i have no [ __ ] idea what he is doing with web5 uh for everybody who doesn't know jack dorsey is who we're talking about he is the founder of twitter uh and uh a camera of square uh it was his other he's the founder of square as well um so big big player in the space and he came out he and kai tell us what's going on he came out made this big announcement that uh he's so cocky man he drives me crazy sometimes this is his tweet he said this will likely be our most important

contribution to the internet proud of the team hashtag web five and then rest in peace web3 vcs um did you open up i i have the pdf did we open that up here no i can open it though hang on uh it was in there it was in notion but so i know where it is perfect so i actually went through this whole thing to try to figure out what they're doing and um we'll see it on the first picture here uh scroll down just a little bit here so it's a new evolution of the web that enables um basically decentralized web is what they're trying to do here uh keep going down isn't that what isn't that web three yeah exactly so um okay the

decentralized web platform enables developers to write decentralized web apps using decentralized identities and decentralized web nodes um has he returning ownership and control over identity and data to individuals we were calling this web five i just i'm curious like jack do you have you heard of ethereum do you what we're building on ethereum like dids that's exactly what uh disco uh is is is doing right decentralized apps we already have a lot of those actually uh d5 is doing great right now i don't know if you saw the beginning of our episode talking about that decentralized web nodes this is just i mean it's ethereum um verifiable credentials that's sold on

tokens we're going to talk about this just a second we are we are using those literally in our own business which we're getting out soon um so like i don't know jack has this like he's a bitcoin maxi right so he loves he loves he's obsessed with bitcoin yes um he thinks it's the most decentralized thing ever and there's just nothing else that remotely is even close to it nothing else matters um it's an old it's an old mindset um i don't know what like he's smart so like i just don't get why he doesn't see this um people are just like when you when you started in this space when bitcoin was the only thing that existed anything else just doesn't make sense kind of thing and they they can't they can't see

the rest of it right um they don't understand that there's potential new innovations that can improve on the way blockchains are built et cetera so i don't know because they have this idea like when ethereum first launched a lot of bitcoin max was like oh this thing's a scam they had all these icos they all went to zero they all lost a lot of money in it and it was very centralized back then right they just launched bitcoin was also very centralized when it first launched back in like 2010. it takes time you know um and so they don't see ethereum for what it is now unfortunately um and so i don't know he's building his own version i don't really understand how this will become more decentralized um it just doesn't really make a lot of sense but i don't know he's a smart guy

maybe he will figure it out um this this feels like non-news to me like i just want to move past this you know like everybody don't pay attention we're building web three we're going to be building it for the next 50 to 100 years we don't need a new buzzword and somebody i don't know like egotistically apriling in and being like no i'm gonna do it my way like when millions of people are doing it together right now like yeah his big thing is he doesn't like the vcs that there's a lot of vcs that are involved in web3 um which fine like i get that like the idea i can see the issues is we want the you know we want to be distributed but

like it it can get distributed and it is getting distributed right like that's the whole point of this stuff it just it takes time bitcoin was very centralized there was only a couple people that held bitcoins when it first launched you know what i mean so like that was an issue and if you know it could have gotten shut down and screwed at that point it took many years for it to get as decentralized as it is today um and same with all these apps and things we're building it's like look we need money to build this stuff you know we thank you exactly you know thousands of thousands of developers and they wouldn't be here working in here if we didn't have vcs um and so is the way that we um that we fund these projects perfect no but it's much better than the way that

the traditional world does it right like in the traditional world you have you can only go to vcs right and they have to be the ones until it goes public then all of a sudden the retail people can get in after it's already made all its value well in web 3 the retail can get in from the very beginning right um alongside vcs and that's cool that's fine that's a big that's huge it's a big step not to mention the the projects that are happening at git coin bitcoin grants and all the public good projects that are happening in web3 and quadratic funding this new model that uh i believe vitalik was one of i don't think he was the original creator of it but he's somebody who's really pushed it they it's there is a lot of good things

happening in the way we are funding as well right it is not it's not just but we do i don't know we need vc money like we'd be we would move way slower if we didn't have vc money we wouldn't get the smartest people so yeah jack cut it out get lost okay so quick announcement uh metamask put out a a tweet yesterday says security researchers at halbourne security have disclosed a wallet vulnerability that affects a small segment of users across many browser-based wallets including metamask so basically what you need to know as a listener if you if all of the following three conditions apply to you this will increase the likeliness that a bad actor can obtain

your secret recovery phrase if these three things i'm about to say apply to you then you need to go and create a new wallet and move your stuff over um basically what it is is if number one your hard drive was encrypted number two unencrypted sorry yes your hard drive was unencrypted number two you imported an srp so your social recovery phrase into metamask v 10.11.2 or older on a computer that's compromised or in possession of someone you do not trust and then number three you used the show secret recovery phrase check box to view your social recovery phrase on screen during the import process

um so i think it's a very small amount of people but if those three things apply to you um then uh one go to metamasks twitter and they'll give you instructions but basically you just need to create a new wallet and move stuff over so i just want to keep you updated there wallet stuff still sucks unfortunately yeah thankfully i don't yeah i really like you said that's affecting a very small amount of people uh consensus consensus was last week in austin texas and uh set a record with 17 000 people attending and we just wanted to take a moment one of our community members sam andrew who's a blockchain researcher we had him on the pod a couple weeks ago

just an awesome dude really smart in the space he wrote a great article about what he learned from consensus and i think it's a solid industry update of where we're at right now so wanted to share that with you guys so he had 10 takeaways first institute institutionalization of crypto will be slow but desire is emerging uh so basically saying that um young staff young people want to work in crypto uh and so tradify has to move towards crypto because that's what young people want to do or they're going to leave where they're working right now and they're going to join web 3. there's a lot of money to be made so a lot of the institutions are moving in this

direction um it's slow the institutionalization is slow because there's no regulation we've talked a bunch about regulation it's coming and hopefully coming from both sides quite honestly with what's been happening these past few weeks we need regulation from the government but we also need regulation internally and need to take our own uh i think position on how to be smart and to act in the best way uh and and there's some existing infrastructure that doesn't work for crypto um securities trading is a messy business there's a lot around uh the issues that you have with trading crypto that are difficult for a institution to be um on on par with the sec and the various

regulatory bodies um regulation needs to come from both sides i just mentioned this uh so we need more regulation on both sides uh thankfully regulation of crypto seems to be a bipartisan issue so i think we're going to get support from both republicans democratic it's not like this is an old you know political uh issue that you know one side loves and one side hates so i think that we'll get there the one thing to note is regulation you know passing laws through through the senate through government takes years so you know don't get your hopes up like this is going to take a few years before we see any regulation all digital assets will become nfts this is his third point which i think is a

really big one that most of us are not wrapping our heads around yet as we said before earlier in the podcast right now the focus is on making money with nfts not this idea that all digital assets will become nfts it doesn't mean that everything should be an nft i'm certainly not saying that and we could get into conversation of what should be an nft and what shouldn't uh but people wanted to control and own their digital assets just like physical ones and blockchains can achieve that so that's what's going to happen i went to a concert on the weekend here in mexico city i'm not even going to say who because it was a terrible concert um but first of all i really wanted to go

and uh anyway i wanted to buy tickets and like i i'm in mexico so i didn't know they don't have like ticketmaster and stuff so i was trying to get tickets and like i didn't know what was a scam what wasn't i was like messaging people on facebook marketplace i was like oh this is not a good idea i'm definitely getting scammed here and i was like if these were just nfts i could just verify that this is a real ticket right because i was like well what if they give me a they could give me a digital or a paper ticket yeah and it could already be used right or they could just it's just a qr code someone could have already scanned it and i was like man this needs to be an nft like it would make my life so much easier

sure yeah so i think there's just so many things that are going to become nfts just so much better but this is a great point that sam makes is the nft market will continue to grow in size because millions of new nfts will be created not because nfts will increase in value so there's an important distinction there right most nfts will only be valuable to their owner for who they're unique uniquely valuable maybe irreplaceable that is a really good point and we're actually going to talk about soul-bound nfts which will which are nfts but they're valueless they're non-transferable we'll talk about them in a second uh number four thing sam learned from consensus blockchain has a ux problem not a

scalability problem i found this very interesting because we always talk about the scalability issue within blockchain we don't we do talk about the ux problem but not enough what sam is pointing out is that the industry needs to realize that they are partly at fault when a user accidentally loses digital assets it's painfully complicated to transact and mistakes are irreversible when you're using crypto and using crypto wallets and that prevents scaling right now because people are scared and they don't want to get in they they maybe they come in and they get a

wallet and then they don't understand what a public key is versus what a private key is you know they don't want custody like there's a lot of ux issues that need to be solved thankfully i think and at least kai and i from everyone that we talked to in the industry really believe that that is what is being built right now like coming out of this bear market we are going to see a massive explosion of onboarding because when price go back up everyone gets excited everyone's going to come back in and there's going to be all these incredible apps that were built in this time whether it be the next you know three months six months 12 months years hopefully it's not that long but during this point is when all this stuff will be built and i think tech ux is going to take a while for this stuff

like blockchain ux in terms of like wallets and moving from network to network and all that i think we're still years from that being a seamless thing what we can improve on now though is just user like the user experience in terms of like the text you write and the look of your sites in your protocols and like guiding people from one step to the next if you just put in some effort there you can make the ux so much better but in this industry i just think maybe the ux designers have not made their ways over here yet because yeah it's just it's terrible which by the way if you are building a protocol and you want help with your ux please reach out to me um we run a marketing agency and all we care about is ux and

customer journey and uh i know that we can help you a ton so please reach out to me because i need to make sure that every protocol in the space has better ux because it is scary as hell using this stuff number five crypto is a new form of commerce i think i think most of us on this know this but this is a you know it's an important point crypto facilitates a new form of commerce without a central authority right that's a big step for us uh as a as a as a humanity we need money to transact and to exchange value people have been doing that for millennia uh and crypto just makes it easier than ever before because you don't need a

central authority you don't need a bank and as we know about 1.5 billion people in the world do not have access to a bank account so uh great news for for those people and for all of us number six crypto winter slash bear market is here i think we all knew this already um but here's what's interesting is sam talks about how the pundits suggested to this time feels different than the last crypto winter in 2018 2019 because there is more to work on today defy nfts and dows didn't exist previously the value of blockchains is better understood and not being questioned the interest from non-crypto native companies continues which is a

big one and growing and crypto projects are better capitalized to last and survive through the bear market bullish bullish polish on the bear market bullish on the bear number seven the macro tone is bearish more pain for high risk assets rates will continue to rise most likely a recession is looming and needed to stop inflation uh crypto will bottom before equities you know there's there's a bearish situation here that i think we're all feeling uh and that's just the reality of where we're at that there may be more pain ahead uh so you know be prepared and be smart money printer is about to go burr

i think we're all good exactly uh number eight the u.s should should bullish on crypto should be bullish on crypto to protect its hedge money this is really interesting point that basically sam is suggesting that the us should create a digital dollar because if they were to do that they they could create a us dollar that could continue to be the global reserve currency uh well they already have though right stable coins which are a massive part which are space are all denominated in us dollars and so kevin o'leary actually was just on bank list in a

podcast last week talking about this he's like this is the number one thing we need to figure out for regulation and he's like i think this is the first thing they tackle as well because this is the way for crypto to come along which is going to happen anyway but for the u.s to remain the um the uh reserve currency which is put your money get it back and put it onto crypto rails through stable coins which it already is with usdc and die etc and now that can go throughout the entire world without swift and the old payment rails um but it's still all um around the us dollar and it's like the perfect way for them to do this um so yeah it's a sick podcast highly recommend you watch it yeah the one trade-off that sam points out that's interesting is

if if the move is made to to a stable coin to a digital dollar uh sanctions will no longer work you cannot sanction with a digital dollar because it's decentralized so one trade-off and it's a big trade-off especially considering all the sanctions against russia that are happening right now uh so an interesting consideration for the us government they're gonna lose that anyway yeah it's true yeah it's true um number nine institutional feel i think this is really interesting sam just points out that he estimates that 50 of people at consensus were boomers and gen x and they seem to be not necessarily crypto natives they are

new to crypto and they're being sent by their organization to learn and report back because everybody realizes this is the future and they're trying to participate and they're trying to play and what better way than to go to one of the biggest conferences and learn permissionless was was very much the same and actually i just met a buddy here um in mexico city and was talking to him he's a recruiter works for a job recruiting company in the us um in tech knows nothing about crypto web three and he was at he was uh heading out after i saw him he was like i'm heading tomorrow to consensus i was like what uh and he's like yeah man my company wants me to to go in and start meeting people i was like wow cool yeah it's it's great to see uh and very

exciting uh and then number ten best weirdest and funniest moments uh this is great uh sam just points out some funny stuff that happened um one was that he talks about what the crowd of boomers were like when they watched an interview with punk 6529 so it took everyone a minute to realize that they were watching an interview of a pixelated jpeg character and what does that mean and what who is this guy so hilarious to see our culture coming into the mainstream if you haven't watched an interview with punk 6529 you should you should also if you haven't watched an interview with g-money uh you should watch your interview with g-money if you don't know

who he is look him up on twitter uh he has a um augmented reality filter of his crypto punk that is that like blinks and smiles and his mouth moves and when he talks it looks it's it's really cool to see um well thanks sam that was a a great uh great article oh god is that mike novograt's tattoo yeah yeah of luna uh yeah let's let's move along we gotta rip through some of these but uh sam well done uh love to have a a a reporter there down in consensus because we didn't get to make it unfortunately yeah okay next up what are soul bound tokens we wanted to check quickly about slow down tokens because i'm sure you've

heard about them if you haven't heard about them uh it's really a big innovation in the web3 space so it's sort of funny vitalik and a few others wrote a article or a paper uh probably like a month ago now and and and kyle and i were talking about it a little bit a month ago uh and nobody was really talking about it yet because whenever metallica writes something it's like it needs a few weeks to make it through uh the media in order for people to understand it and then everyone starts talking about it uh so basically what he is suggesting and a fantastic idea that i think makes so

much sense is that we adapt something called so soulbound tokens so soulbound tokens are non-transferable non-financialized tokens for a decentralized society so to to give you an example it's an nfc that you can't send exactly simple terms you can't sell you can't transfer it uh and it's valueless it is no value uh poep is an example of this poep proof of attendance protocol is a nft that you get for attending an event but you can't transfer it and you can't sell it what what vitalik and these writers are suggesting is that we could have uh

wallets that are specifically for our soul bound token sold down is a really funny name by the way apparently it came from world of warcraft uh i'm not a gamer so i don't know maybe one of our listeners if you know what the origin of soulbound uh and it feels very non crypto as well it feels like yeah it's it's a little bit out of left field but anyways you can imagine the idea like um you have your driver's license could be a sold-out token your medical records could be sold bound tokens uh your education could be sold like your degrees could be a slow down token and basically what he talks about is like how you would have different within um your wallet you would have different

types of of souls um and even the word souls it sounds so funny and weird uh so yeah so i think i think it's a i mean it's a big it's a big idea that has a ton of utility and really would help us a ton uh with the management of humanity in our lives right and i mean it's an obvious next step of course this makes sense um there's there's just no debate there uh think about it if you you know graduate from university and they put your diploma on the blockchain because it makes more sense to have it on the blockchain on the internet rather than you know a piece of paper um i don't even know where my diplomas are um and uh but if it's an nft and you can just sell it or transfer to someone else

well that's not good right obviously we can't have that so of course this makes sense um we actually have something that we're launching soon um do we say what it is it's something to help you guys um really understand this space and dive deep and we want to make sure you get uh something where you can show others that you've completed it and it would make no sense if you could give that to someone else because they haven't completed it that's our name and our reputation we're saying we educated or we gave you this thing um and it only we gave it to you and so if you could just go sell to someone else it makes no sense and there's a ton of different examples of where this makes sense so yeah these of course are going to be a thing um and i think a lot of businesses

are going to start using this stuff for sure yeah okay next up uh a global nft marker report came out uh gonna save you reading the report the main the main headline was that nfts are predicted to grow at 35 percent per year from for the next five years uh my opinion i think that's really low i think nfts are going to grow much faster than 35 per year particularly as a result of game fi uh which is going to absolutely explode it and as a result of things like soulbound tokens and proof of humanity and digital identity things uh which we

will we'll be talking a lot more about uh in the future so that's something that alone are gonna blow that number out of the water are you kidding me totally we announced last week that immutable x partnered with i forget who it was but for tickets like that's gonna be massive yeah bearish on 35 percent more than that um this is cool we talked about this uh about a month ago but open c created a sort of a decentralized protocol for um uh for like an nft marketplace where you could build on top of you could think of it similar like lens protocol for the social graph where apps can build on top of it open c built that for nfts and what they launched this uh i think about a month ago or something but now what they've done is they've

actually moved open c to be on top of this protocol and so now open c instead of integrating directly into ethereum and polygon it still integrates into those blockchains of course but it's using another layer underneath of it essentially um and what this does is it's actually beneficial for for the users because we will start to notice a few improvements with openc1 significantly lower gas costs which is really cool because of the way they built it which is huge for nfts the ability to make offers on entire collections or on multiple items with specific attributes or traits so that's really cool just getting more specific um new open seasons will no longer have to pay an account

initialization fee so if any of you guys have ever started using openc you have to just like spend some gas on i don't even know what it is just like to be able to interact you no longer have to do that anymore which is cool um and then signatures to confirm actions using your wallet will be much easier to read and understand that's really nice for ux um so uh there will be lots of other improvements that are happening i mean seaport just launched and uh but it's open source and there will be you know so we can have more people working on it and anything that changes there will will basically improve it for not just open c but anything anyone else that builds on top of seaport so really really cool it looks like the savings just so everyone um understands you'll save an estimated 35 gas fees um so

that's really cool um actually i actually i experienced this yesterday so yesterday uh i i minted a lacoste nft lacoste launched their first nft and it minted yesterday i was on the mint list so i minted it from lacoste like through their website and their smart contract and the gas was stupid i was like what's going on here why so i ended up waiting till later in the evening when i knew gas would go down uh if if you're in the space of trading nfts you you get to the point when you know when gas is high and when gas is low uh so i noticed and then and then also at the same time yesterday so

that's i i was i did buy something on open c at the same time that i was doing this lacoste mint and the gas was way cheaper on open c so clearly seaport is making a difference in the way that they've written that contract and the way that they've written that protocol and i also noticed the signature change because i often get air dropped nfts into my um into my wallet that are like scams right because what people will do is they'll send nfts to you hoping that you interact with it and so i'm always getting these scam air drops and i don't want to do with them i just want to like move them out of my wallet and i want to hide them but i was always afraid to hide them because the

signature process to hide an nft was horrible ux and then yesterday i went back and i hid them yesterday and it was way simpler and way easier so clearly they're improving the ux there i don't know if you guys do this but i didn't know this but jay is a full-on nft d-gen i was adding his wallet to our multi-sig yesterday and so i took a look at an ether scan of his account just to see what he's got going on and damn this guy's flipping nfts and i don't know he's flipping him but he's got a bunch of tees a lot of transactions so that was it just anybody wants anybody wants to talk out of tz let me know okay uh speaking speaking of nfts um and web3 i think one of the things i am most probably the three areas i'm most

excited for for nfts is music movies hollywood tv and game five uh those are the three that i think are going to onboard the most people and the reason we haven't really seen them happen yet is they're just difficult to build right um but web 3 is definitely going hollywood and there's a lot happening here and i just want to point out a couple of the interesting projects that are exciting first is the infinite machine this is the ethereum movie uh so think the social network uh except about uh vitalik buterin instead of uh mark zuckerberg uh and it's it's gonna be exciting the cool thing about this film it's not being made in the traditional way um

it's being funded through nfts so you can purchase nfts in order to support this movie which is which is really exciting it's also being produced by ridley scott uh who has made huge movies alien blade runner and whatnot there's another project called runner that is being made by the producers of hunger games and it's a whole sci-friend project that includes comic books nfts a video game and a tv show later down the line and so you could just see all of these massive movies are really brands in the end like disney the one of the biggest movie tv companies world it's a branding play right like you're creating these

movies in order to create merch in order to build brands that you can then sell that brand later on right and so i think people just see that using nfts and web3 to create a brand is such a big opportunity because the impact on community uh there's another project called huxley uh we'll put a link to it in the show notes super cool project i watched the trailer for this the other day uh and it looks awesome and there is some big names uh the artist is the one is the artist who um was the artist for the hobbit and video games halo and call of duty and the uh producer of it is the former head of marvel studios so you got some big

people involved in that one uh and and and then there's i mean i'm not even keep going there's a couple more but really exciting to see web 3 going hollywood and again this is slow because it takes you a week to make 10 000 pfps you want to make a full movie feature film it's taking you a few years so but this will be coming and it'll be coming in hot quick hit here nickelodeon is announcing uh the drop in nft and their tweet was just amazing it says the 90s called they want your attention back if you're reading this you're early and stay tuned but spelt like in the form of um like looney tune kind of thing t-o-o and um so nickelodeon coming out with something

uh in the summer don't know when but in the summer i hope it's slime i hope it's just the slime that's all i remember from nickelodeon rugrats another quick hit for you at tag tag whoever who is the um the watch company is announcing a watch where you can display your nfts i think this is a great idea because so many of us are owning these digital have this digital property but you don't just want to look at it on the computer it's sort of like how we have all these photos right but we're figuring out uh different ways to display display digital property and so there's going to be this watch coming out if you want to show off your nft on your watch your

board ape or whatever your moon bird whatever you got you'll be able to do that i actually had an nft as like the background of my phone for a little bit um so it's it's it's a thing um under armour under armour announces that they are launching an nft june 22nd and they've actually partnered with the this is kind of the way adidas did as well which i love is they've partnered with a few different nft communities already um smiles cyber cons which uh i happen to be an owner of thank you uh dinos chibi i have no idea what that is and hape social also have no idea what that is but it's also in partnership with steph curry um so we'll see what happens there i think it's avatars yeah an avatar coming soon so um that's cool uh and then another thing here is jay-z

and jack dorsey launching um bitcoin academy for financial literacy this is kind of cool it's i don't know if it's only for like under um service uh neighborhoods and areas or i think it is right now i think right now it's focused on uh i under underprivileged children from a neighborhood in brooklyn where jay-z grew up is what i was what i read that that's where it's focused now but they're going to grow it beyond there cool and basically just going to teach them about money which i think is super cool i would love to learn that fantastic younger all right let's talk about jobs what's going on in this space right now um there's actually a lot so um coinbase announced we'll just quick hit through these jay um coinbase

announced that they are um decreasing or reducing the size of their team by 18 so they let go i think it was about a thousand people or something um blockfi also reducing its workforce by 20 we talked about this last week that the bigger companies um are going to be the ones that are impacted the most with us so they're going to have to but you know if we look on the other hand we have companies like binance which is the biggest exchange in the space they say we have a healthy war chest we are in fact expanding and hiring right now so that's binance we also have kraken who announced that they're hiring 500 plus roles still to fill this year alone um that is insane so using this line they

say bear markets are the best for recruiting talent that is both aligned with our culture and our mission absolutely absolutely so i mean there's still a ton of people hiring immutable who we talk about all the time they're hiring over a hundred people uh with an awkward picture of robbie shaking his you could if you're watching uh but uh i have a whole list of them actually and i'm reaching out to a bunch of them to invite them over to a collective um and um so if you are looking to get a job or you were impacted by coinbase or blockfire any of these um don't be down there's so many people still hiring space i mean we had brad from uh lens and ave uh in our discord community on monday talking about lens

and they're hiring like crazy um so there's there's so many companies that are still hiring right now um so get involved um get to our uh doer talent collective because we are going to put you in touch with these companies as best we can um and so in the link below you can sign up basically just create an account um you almost put your resume up there and then companies that subscribe or see our collective which there's already a few already they can reach out to you and just dm you uh and so you don't have to go job hunting uh they're actually gonna go talent hunting uh and so we are sort of cultivating that for you uh and then again if you're a company hiring we already have i think 50 people at least in our in our collective

um from developers to product managers to marketers to biz devs to whatever you need um go check that out it's a bunch of sweet people in there uh and they're just as talented as [ __ ] links in the show notes guys uh the ones and twos what's going on with the ones and twos on to the ones and twos not a lot here actually um but uh immutable who we seem to be talking about every single week these guys are shipping fast they have a pretty big team yeah and they're doing some cool stuff they just launched the first um bridge uh for from l1 to l2 which uh is a bridge for nfts so we already have bridges for like l1 l2 for

tokens right like you have an optimism bridge you have an arbitrary bridge you have things like um hot protocol which we talked about we have a cross protocol and this is to move tokens like eth and dye etc from l1 ethereum l1 to the layer twos and then from layer two to layer two the first part of what immutable done now is created the first ever bridge from um layer one tail two for nft so you can actually bridge your nfts uh that are on layer one over to a layer two um and this is great because on immutable everything is free so you wanna move and buy and sell and trade your nfts it's free imagine how it's like for anyone who does that right now on a pml one like it's insanely

expensive to do anything to to integra or to interact with an nft contract um you're spending what minimum 50 to buy mint sell an nft i feel like yeah you might you might get as low as like 20 but you could probably like 50 would be common you might even spend 100 you might even spend like a thousand if you're trying to get another d [ __ ] some people spend ten thousand trying to get other dudes so yeah there's this whole new world where you can just go over to the l2s and it's free and it's free and it has the same damn security as ethereum people need to people need to move to lt's and speaking of l2s this is a cool little chart and this chart i want to keep an eye on um so this is basically looking at the total

daily transactions of ethereum so ethereum i think has um every six seconds it creates a block i believe it is so there's only a certain amount of blocks that it creates in one day and only a certain amount of transactions that that can allow within a block right so ethereum has been capped out and basically maxed out for this entire bull run so that's as scalable as ethereum l1 gets for now until they get into things like dank sharding and all that which we are not going to get into um but the way that ethereum scales we've talked about this a lot is not through creating more block space on ethereum we want that to be um we want it to stay the way that it is because it is the most decentralized and secure way and so the way that ethereum

is scaling is through these layer twos which immutable x is one optimism arbitrary et cetera and so basically now what we can see in this chart here is that optimism and arbitrary alone are now at 24 of ethereum's total transactions with its share increasing basically daily and so it's not that it's eating away from ethereum's transactions transactions on ethereum are staying the same it's just adding so that it's actually a weird chart kind of but it's sort of cool the number of transactions is increasing but the overall percent of all of those increasing transactions um 24 of those is already just optimism and arbitrage and this doesn't even count the other layer twos like um polygon and um an

immutable x which is massive um and you know starknet uh and dydx and i know there's a bunch of others so i actually think if they did include all these like i don't know it's got to be closer to 50 percent um and so ethereum is scaling right in front of our eyes and it's funny because everyone's still complaining about scaling and it's like yo it's happening it's happening like crazy um and so we'll we'll keep an eye on that chart because i think you know it's just going to continue to grow and grow and grow and it just means and it's happening fast fast right like because you look at this chart uh at the end of 2021 it was at what like zero one percent basically and it's happening during a bear market

right like i i can guarantee you if you look at um avalanche and others like that their transactions are probably going down and we are seeing it go up on all layer twos now part of this is because you know optimism just launched a token and then hop launched their token et cetera um but um yeah uh lots of action happening there and we're just seeing that we can scale blockchains and that's super cool okay fun take i'm actually going to the airport on uh monday so this is actually i i almost spit out my coffee i think when i read this but who is it gaines felt this is the name on twitter here and he tweets out so by the way we're wrapping up and this is our fun takes we just have one of them today uh for the sake of time he tweets out airport

security asked if i had any liquids in my bag and he responded i [ __ ] wish so bag is the common term for like your nfts or your your tokens that you're holding uh and right now i mean if you're in nfts they are not super liquid uh if you've been trying to to sell nfts um so yeah we all wish we had liquid bags in terms of entities that we could sell but that's what happens in a bear market uh i just thought that was hilarious hilarious hilarious uh okay last up the web3 tool of the month uh drum roll this is less of like i don't want to say that the the brand name that we're using

here is the perfect one it's just the first one that i used but the web3 tool overall is a multi-sig wallet and the reason is i never really realized like i've always heard about multi-sticks never used one obviously it's something that dao's would use etc um but just a simple idea of this so we have a marketer raul this is our dude that's growing our twitter and by the way thanks everyone for following us on twitter yeah whenever we showed it last week it's growing fast which is great raul's happy uh but so we we created an account on lens protocol and i i minted it because i had our wallet and it's just a normal metamask wallet and because you could only interact if you hold the nft

i'm the only one that can interact on our lens protocol account and i was like well this kind of sucks like i'd like for our marketing team to be able to do it they're the ones creating the content just like we can all log into our twitter account or our facebook and so basically it's like okay [ __ ] we and we're also launching some um soul bound nfts in the future and so we have a developer who has to create his own wallet to be working on that and i was like okay we need a central wallet here that we can all use and interact with so that we can share these kind of things and i was like okay multi-sig is the way to do it um and so i tweeted out trying to find the best one um the answers i got were gnosis safe so i went

to town trying to figure out this whole experience yesterday and geez it is not easy i'm not gonna lie it's very difficult um but it is great because basically what happens the way that these are set up and i don't think all multi-sig wallets are this way but this is what i gathered what i learned yesterday is this wallet is essentially a smart contract on the blockchain and that smart contract has a address just like our wallets have an address and what happens is um there is no like that address is not its own wallet it can't really do anything but what you do is you tie owners of existing wallets onto that smart contract and so i got jay's wallet and my wallet and a few members of our team's wallets and they all become

owners of this smart contract and basically what happens is you can select one or two or three or whatever percent of people you need to sign a transaction and approve and what happens is if i want to create a transaction in my nosis safe it's more called like a safe than a wallet i have to go and approve that from my personal wallet and maybe i need multiple people to do this and the gas is actually not even paid from the safe it's paid from your personal wallet which was kind of weird but that's kind of the way that it works and the way that you put these owners onto this safe is you actually have to do it sign a transaction in the blockchain and they become like it's part of the blockchain you can see who the owners are of this wallet

and so it's all open um but all controlled by the by the blockchain itself which was pretty cool um but what was interesting is it's actually like i can interact with with apps with this safe so i can go into gnosis safe and use the browser i could get on the lens protocol i bought an ens domain uh web3 or w3academy.eth we got that i linked it to our safe um so that was all really cool now our team can sort of work together on things like lens protocol and whatever it was scary um i'm not gonna lie there's some weird things with this because it's like a smart contract when i do a transaction like let's say to coinbase the transaction doesn't show as a normal

transaction so coinbase doesn't read that a transaction happened so i was messing like hey i sent you know 100 of eth to coinbase and it's not showing up in fact it did show up my balance did go up i didn't notice but it's not part of the transactions because it's an internal transaction so you got to go to ether scan and click over and i was like what is this this is insane um the other annoying part from this and if anyone else has made a multi-sig and has a better option is i made all these owners made the wallet on ethereum if i wanted to go and then make one on optimism and polygon it's there and you can do it but you actually have to go and mint a new safe which gives you a new address and you have to re-add all

the owners to it because it's not set up the same way as like a metamask wallet where all um evm compatible chains like optimism and polygon etc just go from the same uh your same like wallet address they're all the same and if you send from optimism to x wallet address it just goes to there if you send from ethereum to the same wall just just goes but on ethereum doesn't work like that here um which is kind of frustrating because now you have just a million different addresses for every different chain um so that was kind of the the annoying part from it but like it's still great it's a cool service and as a business if you're getting into this and you have a team you're going to need this and so

um i actually started looking at a bunch of different ones nostal safe seemed to be the best one i could find i actually got a little angry at those safe support their support was incredible by the way every issue i had they responded within a minute and then once i found out that i had to recreate another safe for every network i was like you guys realize that that's terrible ux right it's just the support i don't know it's just like it's not a bug it's just kind of the way it has to be set up because the smart contract i was like yeah i'm like this is awful i was like dude do you know anyone else i could get a different multi signal but she's like i don't know sir that was a savage guys yeah he's a savage i just wanted to get this figured out

but uh so if those who say if you guys listen to us um my apologies for uh for that message but um their support was amazing it is a cool tool you can do so much in it you can hold nfts tokens and exchange that and you get your team to interact in it and that's really cool um so yeah if you are looking to create a dow if you are looking to create an nft project and you want to share this with others or you want to get your business into the space um multi-sigs are where where it's at i also think that if you are a builder uh go build a multi-sig wallet that has good ux because there's definitely an opportunity there and every business is gonna need this every single business is gonna need this every single project is gonna need this um so the better we

can create the experience here um you know obviously the better it's gonna be to onboard businesses so um i think great job gnosis safe kudos to you guys i got my multi-sync we're set up we're we're rolling uh but uh lots of opportunity here for competition fantastic well that's all folks thanks for uh showing up thanks for listening uh we love you all uh a couple quick shout outs uh if you have a minute we would greatly appreciate if you could give us a five star rating on uh spotify or apple podcast whatever you're listening to if you are still listening to this podcast i assume that you would give us 5 stars

if you don't want to give us 5 stars give us what you think we deserve because feedback is always a good thing but that would be a huge help to us jump in our discord if you're not already in there it is popping off daily right now so many people coming in really exciting people lots of projects being discussed lots of learning being shared so come on in there and if you attended our lens protocol meeting on monday uh and you filled out the form you can claim your lens handle uh just go into the discord you'll see the instructions on how to do it um but make sure you checked it out because you are good you are whitelisted sweet one final thing is we have another community call

next monday uh every monday 7 p.m est we're going to be talking about community and how to build community and web 3 um so if you're a community builder or you are building a business or you just want to know about community um get in there it's going to be dope join us all right have a great weekend everybody thanks for listening thank you for listening to web3 academy we hope this helps you along your web3 journey if it does please share this episode and subscribe so you don't miss the next one by the way if you have yet to join the discord community you are missing out this is where all the magic happens this is where we learn where we ask questions where we network uh you want to be in there the link to join is in the description below and finally a

quick disclaimer nothing in this podcast was financial advice crypto and web 3 can be risky you can literally lose it all in fact if you invest on account of what we say you probably will lose it all so don't do that in all honesty the point of this podcast is to remove the noise of markets and price and focus on utility implementation anyway so you should not take any of this as financial advice thank you friends and see you in the next one