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Welcome to the 69th Edition of the FF Newsletter
In this edition:
▹ Team updates
▹ The Mirrortable by Balaji
▹ Cobie on Tokens <> Attention & Web3
▹ BlockbusterDAO Raising $5M
▹ 1Confirmation NFT Report
▹ BAYC Floor & Serum $5.8M Sale
▹ Zorb by Zora
▹ ... much more
Plus: What’s Poppin' / Market Pills & Index Snapshot
Let’s get into it.
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The Mirrortable by Balaji Srinivasan. Web3-native investing is all the rage, but there are plenty of pieces of the stack that still need to be developed and reimagined. In this essay, Balaji describes the Mirrortable, which are "to cap tables what stablecoins are to fiat currencies." From The LAO to Syndicate Protocol and many more, folks across the space are working on reinventing the angel investing stack in this vision. ON-CHAIN CLUBS
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Tokens in the Attention Economy. "In reality, the only scarcity in crypto is attention." Cobie explains that while attention is the currency of web2 for companies to capture upside, it also exists in web3, allowing users to capture upside. Assets are valued by cumulative attention. The price of a project is not necessarily reflective of its "value-add" to customers, but of the attention customers are giving to the present and future of the project. THE NEW CURRENCY
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BlockbusterDAO <> Blockbuster Brand. Yet another acquisition DAO. This time, BlockbusterDAO is looking to raise $5M to resurrect Blockbuster Video by acquiring it from Dish Network and transforming it into a “decentralized film streaming studio.” This goal-driven acquisition is an evolution on the “buy-and-hold” missions of ConstituionDAO and others, further exploring the power of DAOs and collective capital allocation. VALUES ALIGNED 🎞
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Web3/Crypto: Why Bother? These two essays – by Fred Wilson and Albert Wenger (both of Union Square Ventures), respectfully – attempt to tackle a simple question: “why web3?”. For anyone working in or exploring the space, such a question might have seemingly obvious answers, so much so that it is difficult to explain to someone completely new to the ecosystem. On the other hand, having a firm answer is necessary to continue to do great work. Both Fred and Albert tackle this question in similar yet distinct ways. We encourage our community to share their own answers. WHAT'S YOUR TAKE? 🧭
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Tapping into DAO Ecology. More than organizations, DAOs are networks. More than networks, DAOs are organisms in tightly interwoven ecosystems. This essay from The DAOist explores DAO ecology, from "budding" to "grafting" to the tech that can help enable it (s/o PrimeDAO). As DAOs continue to interact with one another in new and interesting ways, the value of our communities will only grow exponentially. INTER DAO VIBES 🤝
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Crypto Assets Inspire New Brand of Collectivism Beyond Finance. The Financial Times wrote about DAOs! Highlighting projects from CityDAO to ConstitutionDAO to Syndicate Protocol, The FT dives into how DAOs can be used for rapid and effective community building and capital formation around a common goal. DAOs are still very, very young, but we expect much more to come in the new year as more people begin to learn about all of the opportunities DAOs have to offer. COLLECTIVE (RE)BRANDING
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Tally 2021 DAO Trend. Speaking of DAOs, Tally released a review of DAOs in 2021 covering everything from governance to AUM and more. The newsletter edition also dives into various D2D and intra-DAO events, such as the Fei-Rari merger and Sushi’s core team dilemma. We’ll say it again: 2022 will be the year of DAOs. Much, much more to come. SPOT ON
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1Confirmation NFT Year In Review. 1Confirmation took another angle: NFT year in review! The world of NFTs was almost impossible to keep up with this year, but this report does a great job summarizing. The authors cover trends, platforms, blue-chip projects, and predictions for the new year. All in all, this is a fantastic whirlwind tour of how far we’ve come and how much is still left to be built. HOT REPORT
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Social Tokens Index Fact Sheets - Index Coop Proposal
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David from MintGate
By the end of the year, 69.8% of our token gated links were created using our own NFTs. Soon, our full Polygon integration will allow anyone to create their own gated storefront and mint content with low fees.
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Forefront DAO
This month we are wrapping up Off Season and getting ready for Season Two. Join our discord to learn more on how to get involved. As always a lot of developments happening in our in-house guilds, check out our live bounties to see how to contribute and earn $FF. Also we are hiring.
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Join our discord for daily dose of crypto social news
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