Twitter and the Drive To Become a Web3 Platform

Summary: Web3 is alive and kicking, but NFT sales are nearly dead. Ethereum smart contract development is on the rise like bread dough in Paul Hollywood’s oven. But everyone’s on the edge of their seats this week wondering when Twitter will transform into a Web3 powerhouse under Elon Musk’s tutelage. Plus, you don’t want to miss the lowdown on why no one wants to get down in the metaverse. Keep reading … it’s about to get virtual.

Ethereum smart contract development is up 160 percent year-over-year.

Global NFT sales have fallen for six straight months and failed to reach $500 million in October. But at least you had a happy Halloween! Satoshi Lab is launching an NFT marketplace.

Web3 dance moves Twitter could try. The real reason Elon Musk bought Twitter. In fact, Musk is already making noise about Web3. Twitter is Elon Musk’s playground. He has bigger plans than simply turning it into a “free speech” platform. We already have those. It’s likely that he wants to do something bigger. Payments is a plausible business model, and I can see it happening. Can you?

Hive has integrated with Ledger wallets. This is huge news. If Hive continues to make these kind of moves, it could become the de facto Web3 platform. It’s already well on its way.

KuCoin Wallet becomes a Chrome extension.

Zora has a Nouns Builder for Web3 startups. That was a fun sentence to write, but what does it mean? Practically, it means anyone can build a DAO, auction NFTs, and join the Web3 revolution. Yippee-yi-yay!

Why no one wants to be in the metaverse. (THIS IS A DAMN GOOD READ) Will there be any real privacy in Meta’s metaverse? CoinDesk says the metaverse isn’t real but offers suggestions for brands to make it real. (ANOTHER GREAT READ) Despite the metaverse having no real population to speak of, evangelicals want to evangelize your avatar. These are all awesome reads. I suspect the metaverse will someday be a thing, but that day is not today. However, I think church services in the metaverse would be awesome, as long as they’re not run by billionaire pastors with three yachts and two vacation homes.

MakerDAO pioneering developer Nikolai Mushegian found dead in San Juan, Puerto Rico.

John Wegehaupt shares his crypto earnings for October. Much of his earnings are from Web3 social platforms with Hive and Publish0x leading the way. His biggest platform earnings come from Medium. Expect my earnings report on Friday.

Is Web3 gaming the future, or will gamers head back to Web2? Good question.

Vote for your favorite Web3 platforms, especially Cryptocracy. Do I actually have a snowball’s chance in Texas of winning?

Have you read yesterday’s Twitter Tuesday?

This has nothing to do with Web3, but I’d be delighted if you checked out what my wife and I did in Marion, South Carolina.

Snark and commentary in italics. Inclusion of an item does not mean I agree or endorse the ideas presented. Of course, it also doesn’t mean I don’t either.

Cryptocracy is a decentralized newsletter published several times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto.

First published at Cryptocracy. Not to be construed as financial advice. Do your own research.

Image credit: Source: Alchemy via Tokenist