#1 problem with Solana NFTs 🚨
Nike's Web3 play has paid off!
GM ✨
We’ll keep it simple so you can enjoy the rest of your day, we got you! 😉
Let’s quickly run you through:
Weekly Web3 news
Solana NFTs
Web3 jobs & bonus reads
Estimated reading time: 2:19 mins
Weekly Wrap: Numbers & News 🗞
Quick Web3 updates curated for you:
A house in South Carolina was sold as an NFT for $175,000.
Azuki NFT, a project on the NFT ecosystem, launches a physical backed token.
Blur.io, a new Ethereum-based NFT marketplace, launched this week with a free airdrop for traders who have been active during the bear market.
The Aptos (APT) token crashed on its initial listing day. The much-hyped launch was a disaster.
Indian e-commerce giant Flipkart launches metaverse shopping experience FlipVerse.
Solana Marketplaces Ignoring Royalties To Compete
After Solana marketplaces ignored creator royalties and made them optional for traders, NFT royalties have become the subject of much debate again.
The internet is filled with news of NFT creators earning $1.8 Billion in royalties (in this economy!). Seems astronomical, right?
But this is just one side of the picture with Ethereum NFT creators, even though Ethereum might not have the best reputation always.
💡 Why Solana? Solana provides NFT buyers with no transaction fees and few congestion issues. They can be more easily accessed than those on Ethereum.
Here’s why royalties matter. 👇
There is a steep rise in Solana marketplaces, either ignoring creator royalties or making them optional for traders. Magic Eden, a top Solana marketplace, recently announced that it would make paying royalties optional after losing significant market share to rival platforms.
Reactions to such announcements have been widely mixed; while some creators acknowledge that unenforceable NFT royalties cannot be a sustainable revenue stream for Web3 creators, others were upset at the news and the potential impact on their businesses.
The constant fear of losing a huge revenue source is appalling, that too, from platforms which once condemned such steps. But there must be better ways of operating in marketplaces for platforms, traders and creators.
What do you think, how necessary are royalties? Who should pay them, the platform or the trader?
Arcana is addressing the key challenges of user experience and privacy in the Web3 world. Arcana is a Web3 infrastructure toolkit that makes it simple for users to access the Web3 ecosystem. The toolkit includes modular and easy-to-integrate SDKs for authentication, storage and access. With Arcana, users can easily create non-custodial wallets and store encrypted/public data on a decentralized network, all with just their email ID. Additionally, it provides the ability to set access policies to data on-chain, whether it's to restrict access to exclusive content or to enforce data privacy. Arcana makes Web3 more accessible and secure for everyone.
Learn more about Arcana 👉HERE👈
Listen to the latest episode of The Ramp Show, conversations with India’s biggest Web3 founders, where Paul Finney & Suhas Motwani talk to Mayur Relekar (Co-founder, Arcana Network) about privacy in Web3.
It’s the BTS of Web3 from a lens you’ve never seen it from. 👇
Work in Web3
Community Manager 🧑💻 Biconomy
Content Writer ✍️ Tezos
Growth Marketing Manager 📈 Kraken
Glad you made it here!
Pick one of these gems and enjoy. ☕️
Nike’s Venture into Web3 Isn’t About Tech – It’s About Culture
Balaji Srinivasan: How to Fix Government, Twitter, Science, and the FDA | Lex Fridman Podcast
That’s a wrap for This Week in Web3, see you next week! 🚀
If you’re an early-stage web3 builder going from 0 to 1, holler at our creative-capital studio Spacekayak and let’s create something extraordinary through design! ✨