2024 is set to be BIG for web3, we’ve got proof! Trump sells off major ETH 💸 India cracking down on crypto exchanges. Web3 jobs and weekly updates curated for you.
New year, same old us! 😤 We’re still delivering hot web3 updates to you with the best opportunities and resources you need to level up in this space! Talking about a new year, 2024 is set to be BIG for web3, we’ve got proof! Read on to learn how and find more web3 tea. ☕️
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The Convergence: 2024 Is Going To Be BIG for web3!
The year 2024 marks a huge turning point in web3 — a fusion of AI, NFTs, and DAOs. We don’t just call this convergence a technological evolution but a cultural shift redefining our digital interactions, trust, and ownership.
👾 AI: The Transformative Force
AI is transforming from a background tool to a front-line advisor in the metaverse, particularly in the crypto domain.
Convergence of AI and the Metaverse: 2024 is poised to witness a significant integration of AI with the metaverse. AI is expected to revolutionize the creation process within virtual worlds, allowing creators to design expansive environments simply through descriptive input.
Synergies between VR and the Metaverse: Virtual reality (VR) has emerged as a key player in human-computer interaction, with significant advancements in hardware from companies like Meta, Apple, and Nintendo. Looking ahead to 2024, VR is expected to potentially transform how events like sports games are enjoyed.
When it comes to AI being integrated into the crypto space, platforms like Ocean Protocol and SingularityNET are pioneering it currently.
🃏 NFTs: Beyond Digital Collectibles
NFTs in 2024 are set to evolve from their current status as digital art pieces. With applications such as dynamic pricing in event tickets (as explored by Ticketmaster) and as gateways to exclusive educational content, NFTs are becoming more embedded in real-world applications.
Industry leaders predict a new wave of web3-enabled games that will integrate NFTs, enhancing user ownership of digital in-game items and creating new business models and gameplay experiences.
Bitcoin-based NFTs, which gained momentum in 2023, are expected to grow further in 2024. The appeal lies in their on-chain storage of art and data, leveraging the scarcity, security, and immutability of the Bitcoin blockchain.
Additionally, they play a crucial role in enhancing transparent and secure governance in DAOs.
🚀 DAOs: AShift Towards Empowering Individuals
While governments and financial institutions often see public blockchains and digital assets with scepticism, DAOs represent a shift towards empowering individuals and promoting financial freedom.
DAOs are challenging traditional social media platforms, offering a more democratic and transparent model of online collaboration and content creation. Platforms like DeepDAO illustrate how blockchain-based communities are redefining creative collaboration and research.
While this fusion promises a more interconnected and decentralized online world, it's not without challenges. Regulatory uncertainties and security vulnerabilities are still key blockers. However, we’re seeing the growth of the web3 ecosystem as it continues to gain momentum with increasing adoption.
🚨 Caution Against Scams and Theft
In 2023, over 324,000 crypto users fell victim to phishing scams, losing approximately $295 million in assets. These scams often involve fake airdrops, compromised social media accounts, or deceptive advertising. To protect yourself:
Verify Sources: Always double-check the authenticity of websites, social media posts, and emails.
Be Wary of Unsolicited Offers: Treat unexpected offers and airdrops with scepticism.
Use Secure Wallets: Employ wallets with robust security measures and keep your private keys confidential.
Stay Informed: Regularly update yourself on common scam tactics and new security measures.
Community Vigilance: Participate in community forums to stay aware of any emerging threats or scams.
For newcomers to web3, now is a great time to see and join in creating a new digital reality. For those already knee-deep, it's time to bring new ideas, change, and help shape this changing space.
In 2024 and beyond, web3 will change how we experience the internet, making it an exciting time to be involved in this digital change. How are you aiming to participate? Let us know in the comments!
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India's Financial Intelligence Unit (FIU) has issued compliance notices to nine prominent offshore crypto exchanges for operating illegally in the country. These include Binance, Kucoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex. The FIU demands these platforms adhere to the Prevention of Money Laundering Act, enforcing registration and compliance obligations. This decisive action reflects India's stringent stance on regulating crypto activities and ensuring financial security within its digital asset landscape.
Arkham Intelligence reports that a crypto portfolio, believed to be linked to Donald Trump, has offloaded 1,075 ETH, valued at approximately $2.4 million. This follows a period of accumulation related to Trump NFT royalties, with peak holdings reaching $4 million. Trump, known for his unique NFT collections, seems to be capitalizing on ether's recent price surge. This move aligns with his diverse digital asset strategies, despite the NFT promotions being managed by a separate entity, NFT INT LLC, under license.
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Let’s get into Posty’s fresh pecks from the world of web3!
🤩 zkSync, an Ethereum Layer 2 solution, surpassed Ethereum in monthly transactions with 34.7 million, driven by the rising popularity of inscriptions, outpacing Ethereum’s 34.2 million and Arbitrum’s 31.4 million.
🐭 An early version of Disney's Mickey Mouse, featured in "Steamboat Willie," entered the public domain and became OpenSea's top NFT. Disney retains rights to modern iterations of the character.
📉 The Orbit Bridge hack on New Year's Eve, leading to a $81.5 million theft, elevated December's crypto losses to nearly $100 million, marking 2023's fifth-highest month for hacks.
⚡️ XRP Ledger processed a record 6.9 million transactions in one day, sparking community excitement about its potential and indicating the network's robust scalability and efficiency.
🏎 Formula 1's Sauber teamsigns a two-year deal with crypto casino Stake, rebranding to Stake F1 Team Kick Sauber, amidst growing blockchain and cryptocurrency sponsorships in F1.
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Disclaimer: The content in this newsletter is for informational and educational purposes only and is not intended as financial advice. We do not offer personalized investment advice. The crypto and web3 sectors are highly volatile and risky, so please do your own research and consult a financial professional before making any investment decisions.
