📝 Web 3 Field Notes #1 – 8.11.2022

📝 Field notes &📚 readings:

• a16z crypto compares open vs closed metaverses - great overview: https://lnkd.in/eU9ZmP5V 
• The state of web 3 in data, by Tomasz Tunguz: https://lnkd.in/eAV3W5cE 
• MEV & Ethereum: A great list of readings on all things MEV (miner extractable value) and what we can do about it by Flashbots https://lnkd.in/epsU5T56 
• The most recent Blockchain Letter form Pantera Capital on blockchain's 2003 moment: “There wasn’t one company that became the internet, there were a lot of important internet companies. There will be quite a number of important protocols.” https://lnkd.in/eQ8FenEy
• A bullish view from Arthur Hayes on China reducing its dependency on US treasuries with Bitcoin: https://lnkd.in/eNAU5VVW
• How we might solve attribution with on-chain analytics in web 3 to track our marketing ROIs: https://lnkd.in/eDYFPq9z 

🚨What caught my eyes: 

• Meta goes all on NFTs with an end-to-end integration of NFTs within Instagram with Polygon Technology: https://lnkd.in/ejsW3erx 
• Apollo Global Management, Inc. enters crypto https://lnkd.in/ev-wFgCW
• HUGO BOSS enters NFTs, after Gucci, LV, BALENCIAGA, Prada, Nike, Adidas, and a many other luxury fashion brands did too: https://lnkd.in/eQUhiy9B 
• Fidelity Investments to open “commission-free” trading to retail (obviously they will still take a hefty cut): https://lnkd.in/eSWqBQWV

💡Take-aways: 

• Innovation is ongoing at full speed - while markets are down, everyone is building!
• As the underlying infrastructure is being built, we’ll have to figure out useful applications. 
• An open web 3 (decentralized, cryptographically enforced, transparent, permissionless, cummunity driven) is still an antithesis of what big tech has in mind, even though open protocols are increasingly embraced (e.g. Meta with Polygon).

I continue to be amazed by the speed of innovation in this space. 

Exciting times ahead. 🚀