Are NFTs dead? 👀
60 crores in crypto taxes!
GM 🔆
Do you know what pairs best with your Sunday morning coffee or chai? YES, it’s This Week in Web3 with the best web3 news & resources in under a 5-minute read.
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Here’s what we have covered today:
Quick Numbers and News
The next phase of NFTs
Job opportunities for developers in Web3
Estimated reading time: 02:43 mins
Weekly Wrap: Numbers & News 🗞
Quick Web3 updates curated for you:
Binance NFT will let you stake your Bored Apes and Mutant Apes to earn daily rewards in ApeCoin.
Former FTX CEO Sam Bankman-Fried arrested in the Bahamas
MetaMask Mobile Users Can Now buy ETH using PayPal
Solana-based Raydium exchange victim of 7-figure exploit
Researchers use zero-knowledge to address privacy, and AML concerns in stablecoins
Indian government collects more than 60 crores from crypto taxes
Generative NFTs, the next phase of art
We all saw NFT take the world after 2020; BAYC, Noun & Crypto Kitties were some of the names everyone saw all over. But after the initial boom, expectations increased, and the artists have been looking for new ways to experiment and produce better art and utility.
Since AI has been a booming concept, this has led to complex VR art “experiences,” that could be computationally described by blockchain “metadata.” Another experience that has been overlooked has been the perfect platform for the market, Generative art.
What is generative art?
Generative art arises from algorithms programmed to specific parameters by engineer-artists. The artist defines the general process—colours or geometry that might be used.
How do they work?
Generative art NFT projects make use of a smart contract.
Art Blocks, a popular generative art NFT marketplace with ~$1 billion for artists in 2021. Their offering included works that used the random “hash” signature generated when an NFT is added to the blockchain.
Fidenza, buyers wouldn’t know what their chosen work would look until the hash was generated at the very moment of purchase; the smart contract would feed the string of digits and numbers into the Fidenza algorithm, producing something surprising and unique.
The future of generative art NFTs
Though in 2022 NFT market wasn’t at its peak, NFTs have given generative artists a shopfront and an audience after years of being largely ignored.
Generative artists continue to produce fascinating and often eerily beautiful works. This is the beginning, and the market is expanding yet further.
Who is an NFT artist you follow?
Aave is a leading DeFi protocol for lending and borrowing, with over $4 billion in value locked. Aave is a decentralized non-custodial liquidity protocol where users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an overcollateralized (perpetually) or undercollateralized (one-block liquidity) fashion.
Aave serves as the foundation of most of DeFi and is one of the most reliable protocols in the ecosystem. Many institutional and retail users can now use DeFi thanks to Aave.
Learn more about the Aave ecosystem 👉HERE👈
Work in Web3 👩💻
Here’s a curated list of jobs in web3 for developers 👇
Growth Marketing Analyst 📊 Mudrex
NFT Strategy Operations Intern ⚙️ Binance
Python Developer 🛠 Lemon.io
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! ✨