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Welcome to the 70th Edition of the FF Newsletter
In this edition:
▹ Team updates
▹ My First Impressions of Web3
▹ FWB Season Five
▹ KPI Sub-DAO Thesis by Pet3rPan
▹ Gamestop Entering NFT Market
▹ 2021 Ethereum Creator Revenue Report
▹ LooksRare Vampire Attack on Opensea
▹ Nas Music NFT Drop via Royal
▹ ... much more
Plus: What’s Poppin' / Market Pills & Index Snapshot
Let’s get into it.
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My First Impressions of Web3. Criticisms of web3 are abundant throughout the tech world, but Moxie Marlinspike, founder of Signal, took a swing at some of web3’s critical drawbacks. Primarily, Moxie highlights the inherent centralization in the ways that data is called from the blockchain, from Infura’s massive market share to defaulting to OpenSea’s API for NFT metadata. While the critiques are certainly legitimate, some responses, like this one, argued that the problems are being solved rapidly. PROTOCOL VS PLATFORM NARRATIVE 📌
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Governance Participation: Perils and Promise. Dan Wu from Orca Protocol dives into the whats, whys, and hows of governance. The essay first covers when governance is needed, providing a handy mental model for understanding "growth" of governance activity. A bleak picture of current on-chain governance activity is painted, and potential solutions (PODS!) are provided. Great piece for anyone working on improving governance in their DAO. CONTEXTUAL GOVERNANCE 🔑
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FWB announces Season Five: Social Spaces. FWB is back with Season Five. The DAO has taken the tokenized space by storm with their IRL events and experiences, and is leaning into this success further with the introduction of "Progressively Decentralized Events." Additionally, the FWB Directory is live powered by the all-new FWB ID, a non-transferrable NFT documenting your on-chain identity, actions, and contributions. As usual, FWB is paving the way for social DAOs, and we’re excited to see what’s next. GO SOCIAL GO 🤗
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KPI Sub-DAO Structure. All this talk about sub-DAOs, but how should DAOs implement them? Pet3rpan lays out rules and best practices for sub-DAOs in this post, covering the "two pizza rule" and how to ensure that sub-DAOs are working toward broader DAO goals and specific domain KPIs. He also emphasizes regular reevaluation of the DAO and sub-DAO structures. Super useful stuff here. KPI INFUSED LABs 🧫
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Will DAOs Replace Crypto Venture Capital? Venture DAOs are quickly gaining popularity and legitimacy, from the early days of MetaCartel Ventures and The LAO to GCR and Komorebi Collective. This article explores the landscape of Venture DAOs and questions whether they can truly go neck-and-neck with traditional VCs. Tools like Syndicate Protocol are making it easier than ever to create a Venture DAO, but there is still a long ways to go before the major obstacles are passed and they can reach their full potential. POTENTIALLY DISRUPTIVE ⚡️
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Optimizing Your Token Distribution. Token distribution is often one of the first major tokenomic topic that DAO founders question. Cooper Turley and Lauren Stephanian conducted an analysis on what distributions for new DAOs have looked like in the past, where the trends are headed, and what best practices exist today. They suggest that the optimal token distribution is 50% community treasury, 17.5% team, 17.5% investors, 10% ecosystem incentives, and 5% airdrops. OWNERSHIP SHIFT 🔁
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GameStop Entering NFT Market. Gamestop – the meme-iest meme stock – has entered the NFT market. The company’s stock spiked after announcing the development of a new NFT marketplace and plans to invest heavily in crypto-related companies, particularly NFT-powered gaming companies. Whether this is all for show remains to be seen, but add this to the list of mainstream crypto entrances. HYPE ECONOMY 👀
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Estimating Creator Revenue on Ethereum in 2021. The Creator Economy runs on Ethereum. An ecosystem analysis from folks from the Ethereum Foundation estimated that creators made over $3.5 billion in revenue in 2021 on Ethereum, primarily through NFT mints, sales, and secondary royalties. More money in creators’ hands is a great thing, and 2022 will surely bring more opportunities for new and existing creators to build sustainable, community-driven businesses. VALUE DISTRIBUTION 🚀
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Social Tokens Index Fact Sheets
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David from MintGate
-We've added the Collaborators feature. Change the minting permissions of your storefront to allow members to mint.
- The last tests are being completed before the Polygon integration is launched.
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Forefront DAO
Final Edition of the FF Digital Economy Canon is in the works, stay tuned for the drop. If you missed the previous editions you can browse all curated content on Forefront Signal
Forefront Season Two is in the works, starting first week of February. Join us this Tuesday 8AM PST live on discord to learn more on how to get involved.
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Join our discord for daily dose of crypto social news
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