Nukes, NFTs and Meta’s revenue tax • TechCrunch

Good day, and welcome to Chain Reaction, the place we’ll get you on top of things with what’s happening within the bizarre world of crypto each week so that you don’t have to affix 1,000 Discord chats or observe each hexagonal-profile-picture influencer on Twitter your self — at the least, not should you don’t need to. Don’t take it from us, take it from our colleague Amanda, who mentioned:

This week, we dropped our very first episode, by which we talked about three juicy information matters, certainly one of them being Coinbase’s launch of an NFT marketplace. A whole lot of crypto exchanges apart from the family title OpenSea are attempting to make NFTs a factor, they usually’re every placing their very own spin on the idea to try to appeal to customers. We talked about a couple of of the businesses on this area and gave our ideas on which of their daring methods are more likely to repay.

In different, extra terrifying information, apparently a North Korean hacker group was behind the ~$625 million Axie Infinity hack — the biggest one in DeFi historical past — they usually’re possible to make use of the funds to assist the nation construct up its nuclear weapons program. Small crypto startups with underdeveloped safety measures versus nation-states with main sources shouldn’t be a battle we need to see play out.

On a lighter be aware, we additionally spent a while roasting Meta for its plans to cost exorbitant transaction charges on the sale of digital items in its Horizon Worlds metaverse.

Our Visitor: 3LAU

Our visitor this week, 3LAU (recognized off-stage as Justin Blau), is an digital music DJ who offered an NFT of certainly one of his albums final March earlier than NFTs have been routinely commanding enormous sums of cash. The sale introduced in $11.6 million in 24 hours (!!!), so it’s protected to say 3LAU has a good suggestion of what generates hype for a venture.

In case you’re new to web3, this episode can be enjoyable for you. 3LAU can change between the world of cool entertainers and tech nerds seamlessly (he famously first acquired into crypto when he was on spring break with the Winklevoss twins).

In our dialog on the pod, he taught us about various kinds of NFTs past simply JPEGs of monkeys, how the blockchain may help impartial musicians and which features of the NFT world could make even an enormous NFT stan like himself increase an eyebrow.

We already spend method an excessive amount of time on Twitter, so please assist us justify our pastime within the title of labor and provides us a follow. For warm takes, startup cash strikes, spicy tweets and extra, don’t overlook to take a look at this week’s Chain Reaction newsletter. You possibly can signal as much as get it in your inbox weekly here.

Chain Response podcast episodes will come out each Thursday at 6:30 a.m. PDT. Subscribe to us on AppleSpotify or your various podcast platform of option to sustain with us each week.

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