Polygon over Ethereum for zero trading fees
A new web3 experience awaits
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This is This Week In Web3 here to serve you the hottest updates in Web3 with a side of food for thought. We keep it quick and short with only the updates that matter. 🔥
Let’s see what we have for you in this issue.
Robinhood’s all-new web3 wallet
Is Metaverse really here?
Web3 funding, jobs & bonus reads
Estimated reading time: 3:20 mins
Weekly Wrap: Numbers & News 🗞
Quick web3 updates curated for you:
EPNS is now Push Protocol, a new communication protocol for Web3.
Avinash Shekhar, CEO of Zebpay, has decided to step down and launch his own Web 3.0 startup.
Someone paid $4.5M for a CryptoPunks Ethereum NFT despite the bear market.
Mastercard to launch a debit card customizable with any NFT you own.
OpenSea pays a $200,000 bounty to two ethical hackers who helped the company improve its security.
Robinhood web3 wallet lets you trade crypto with no network fees
If you signed up for Robinhood’s Web3 wallet waitlist and are one of the 10,000 iOS users who got in, lucky you! If you don’t know what’s up, here’s a rundown of what it is and how it is different from your usual crypto wallet.
The new “Web3” wallet on Polygon isn’t just for storing cryptocurrencies for trading like Robinhood’s existing crypto wallet allows you to, but it can also be used to “seamlessly access the decentralized web.”
It will let you trade cryptocurrencies without any network fees
It is non-custodial, you’re responsible for keeping the keys for it secure
Does not support viewing NFTs or connecting to NFT marketplaces until the public release
What can you as a beta user do with it?
Fund your wallet and trade and swap crypto
Earn crypto rewards
Safely store and track your blockchain portfolio
Connect to decentralized apps which will allow you to earn yield
The wallet is still at an early stage with room for additional features and support, but Robinhood is “exclusively” working with the Polygon blockchain for now. It’ll add support for other blockchains “eventually.” Read more here.
Also, we’re big fans of UX at Spacekayak, and if you are too, then this brilliant thread on how this wallet takes the user experience to another level is a must-read. 👇
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👈
Dive deeper into Web3 basics with The Product House 🚀
Take one simple step towards being Web3 savvy today, follow The Product House on Instagram. With the latest updates and lessons, you won’t be the new kid learning ABC anymore. 👇
Is metaverse really here?
Since Disney is set to realize its digital vision through Metaverse, it’s a hot topic again. But for all the Web3 beginners, it also brings some questions, like can metaverse exist without blockchain?
Metaverse is different from the current internet because users would own their credentials, network, tokens and everything that’s ecosystem specific in today’s world. One fundamental design construct of it is NFTs.
An ideal metaverse must be on the blockchain, which mandates inclusive incentives centred around creators and users while still offering immersive and seamless virtual experiences.
But it sounds too good to be true, is it all hype?
At present, blockchain suffers from scalability, interoperability and security challenges.
So in the short term, a few scalable Web2 versions of the Metaverse would embrace the Web2 ethos of incentivizing participants. As blockchain matures, more hybrid models would emerge, where Web2 elements bring scalability and user experience, and blockchain takes care of incentivization.
A fully scalable on-chain Metaverse may seem utopian now, but it would be the ideal way to build the future internet.
Let us know what you think in the comments below, is Web2 metaverse worth it?
Work in Web3
Looking for more opportunities in Web3? Hop in 👇
Funding Round-Up
Krypton, a decentralized exchange platform, has raised $7M in funding from Framework Ventures and Samsung Next.
Deribit, a crypto derivatives exchange, has raised funds from existing shareholders at a $400M valuation.
M12, the venture capital arm of Microsoft, has led a $20M strategic funding round for Data Platform, a blockchain startup.
Grab a good read and chuckle if you made it here ☕️
Throw your Bored Apes in the trash
Web3 Gets Its Signature Awards Ceremony: Decrypt Studios Launches The Crypties
and a meme 🤠
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! ✨