Weekly Web3 news: wallets, Microsoft's Web3 push and the ApeCoin launch

Transcript

and she was able to get cash in turkey um for that crypto and so we were able to basically skirt the whole issues that she was having with bank accounts and she never had to use a bank at all we literally went crypto from canada to uh turkey and then she was able to get that into the turkish lira and pay her rent and do whatever she needs to do um and so uh yeah that was her response on the i think it was monday morning it was just crypto this works and we were like hell yeah it does what's up friends welcome to web3 academy a place for entrepreneurs creators and marketers to explore and learn how to use web 3 to transform business models and create thriving communities enjoy this next episode [Music] friends welcome to the web3 academy weekly up we have started this session

off with a bunch of different technical difficulties uh including but not limited to discord not working uh my power is out currently i'm in nicaragua uh and i currently have no power but luckily we have a generator so i have i'm able to at least get this going let's hope i don't get cut out in the middle of this uh jeremy everything good on your end everything is looking good yeah screen's recording um everything is good i guess there's another there's another issue uh jay is sick my co-host typically um so we've brought in jeremy um jeremy is uh many of you guys may have seen him inside the discord uh but he is the community manager there he's also our content creator he's the guy

that does everything for web3 academy in the background and now you get to see his face beautiful beautiful mug uh jeremy tell us about you where are you right now uh yes my name is jeremy i'm currently in austin texas and like kyle said i'm the community manager for web3 academy as well as content creator but currently in austin we've got a little bit of rain out of the blue so that's that's what it is if those watching i mean i'm in a tank top right now because i have no ac and it's super hot in nicaragua but uh it is beautiful here uh so listen jeremy welcome uh and thank you for taking jay's spot today we got a really really uh interesting show today lots of talk about we're going to

talk about web 3 wallets and some big investments as well as what wallets really mean uh we're going to talk about how uh web3 is going to change the way that we hire and um using resumes and things like that we got a lot of news on like board 8 yacht club and they're doing so much so we'll talk there and then we have the web 3 tool of the week but before we get into all those things let's slow it down a second and let's just start with some gratitude jeremy why don't you start us off what are you grateful for today um i'm grateful for my family and how close they are to me they moved about 10 minutes away a couple years ago and so especially now with everything going on in the world it's it's just it's nice to know that

everybody is here close and safe love it amazing yeah how about you my gratitude today is uh beach life i've been uh i was in medellin in florida for the last a little bit and now i'm literally in the middle of nowhere papua nicaragua it's just a beautiful surf town there's next nothing here there's not even a grocery store we buy our food from a truck that drives by uh when we hear it we got to just like sprint out so if all of a sudden i leave this podcast it's because i'm going to get some nice fresh fruit and vegetables and bananas yeah exactly but yeah i know i'm just i'm super grateful to be here and just live this sort of super chill life um obviously we're having some technical difficulties with power but that's what happens when you're here but the surf is

beautiful and as soon as we're done here that's where i will be um so jeremy you know this but typically we start with the word of the week for web 3. i haven't even thought about what that word is yet usually i think about it days in advance but i've been trying to figure out our power situation so what is the word of uh web 3 word of the the week for me today i don't know if you have one jeremy feel free to say it um i guess if i had to come up with one right now on the spot it would be exciting um i feel like a lot has happened this week especially we'll touch on it later but with the board ape yacht club um and the announcement that they made it's just it's cool to see a lot of big

things happening right now right there is yeah it was a big week it was a big week and uh web 3's really getting pushed out there it's becoming not mainstream i don't want to say that yet but it's getting there and there's a lot going on in the space so i'm glad that we're we're covering it today so uh let's get started all right what's the first one the first one we'll let you start it off what is this yeah no i think i think that leads right into this really well you said mainstream and here we have microsoft investing in the web3 company consensus absolutely so consensus is one of the for those of you who don't know um it's it's was started by joseph lubin i believe is his name uh and lubin lipton what does it say there whatever anyway

he's one of the founders of ethereum co-founders of ethereum and he started a consensus they are the company that made metamask they are the company which is the most popular wallet in crypto they have a company that's made in fura which is used throughout some back-end infrastructure for um for crypto uh and a slew of other things they're a huge huge component of uh the ethereum ecosystem but just crypto in general because of how big and important ethereum is to crypto um and microsoft investing in consensus um this is huge right microsoft the biggest company in the world i'm pretty sure by market cap they're literally the biggest um and we've seen them talk about how you know they've been buying stuff in gaming and they talked about the metaverse is going to be big um but now they've made a big play just directly

inside the ethereum ecosystem and uh and now owner of the biggest not owner but a a owner of one of the biggest wallets in the space um and actually i think we have some news on this wallet uh on metamask later on but this is this is huge and i think what a lot of people don't understand if you want to just actually go to the next tab so metamask a lot of people have used or seen it and it's not the greatest wallet we've ever seen it's a bit clunky it's kind of difficult but a wallet what i want people to understand is a lot more than just something that's going to hold your crypto a wallet is truly going to be the most important thing in our future on the internet kind of like how important your instagram or your facebook account is kind of thing um but

on a whole nother level and the reason i say that is because your wallet does more than hold assets it's also when webthrough really gets built out it's your it's your one account and this account is going to interact with every single application and platform on the internet it's going to hold all of your belongings whether that's like currencies like a fungible token or your nfts um and those things your nfts your tokens are going to be what give you access to platforms to certain experiences to events to memberships um so basically everything we do on in the web 3 world is going to rely on our wallet also inside your wallet is your identity it's going to be your avatar and your name what people will see you and know you as

kind of like your twitter profile your instagram profile but it'll be for every platform um so i really think there's going to be so much innovation in these wallets and they're going to be the most important thing that we use and something we're going to use every single day all the time and so this is a big move for microsoft it means that they see what's going on here and they want to get in on the the big time infrastructure and the tools that we're going to be using in web3 um so you can see the tweet that i put out here this was i don't know back in november of last year i just said your ethereum wallet is more than just a wallet it's your digital profile right it carries your belongings gives you access it's your avatar your name your digital history

and even your resume right it's by digital history it means people can see everything that you've done in the past on chain what have you invested in what have you bought what dows have you belonged to you know how much did you make in certain dows um what d5 protocols you've interacted with so they really get a big history of your your web 3 experience and um and i believe that will be a big um a big part of hiring or just like bringing people into your company or community or dow whatever we call them in the future um which which actually leads us to our next um our next piece of information but i don't know if there's anything you want to add in there before we do that jeremy yeah i was just going to say um

using something like metamask it has been a game changer uh you're just able to kind of access any website you go to whether that's openc or looks rare or logging into the sandbox or decentraland it's just one um seamless process of being able to log in and a laugh because my my mom struggles with instagram and facebook and for getting her passwords to everything and so right she has this notebook that she keeps all of her different usernames and passwords in but they're all mixed up and so she it's just a mess it's like every couple days i'll get a call from her to help and it's just cool to see like this this concept could completely eliminate that and make it so much easier

so true that's a good point my mom has the same book i do picture right now in the family room she's got it there and that has everything in it it's so funny um but yeah that's the other thing is you're gonna have one wallet or you'll probably have multiple wallets because we won't do everything in our main like front-facing wallet we don't want everyone to know how much money we have or everything we're buying so you might have some like anonymous wallets um but uh but definitely you have one log in and that's just what you use for the rest of the internet and god what a game changer that's going to be oh there's a time uh i don't know how many passwords i have right now and accounts on different things and it's just getting worse and worse and worse so i can't wait for web3 to roll out

and for that to become a thing so next up here uh we have a tweet that i put out actually just the other day um and it got a lot of engagement uh and a lot of um comments and just people some people pro and saying like yes i see this some people kind of confused not really understanding it and so i thought it was a good conversation to bring up here but here's what i said and then we'll dive into it resumes will become a thing of the past web 3 is about contributing in the moment to earn a role within a company aka a dao rather than showing past achievements in education and promising you will do a good job doers will be rewarded in web 3. um and so what this means is if anyone here has ex has ever experienced

working in part of a dao it's not about applying to a dao or giving a resume it's it's a community based business let's say and so all the community is working in there and the way that roles are created is just someone doing something and saying hey i want to create this product or i think we should do this and if the community goes that's a good idea you want to do it then all of a sudden you earn a spot on that team right and whether you get paid for that or you then get an hourly rate or a salary or whatever that depends on what it is you're coming up with or you know the value that you're going to bring but what's interesting here is you know i did another tweet that explained like before the internet we would print off this resume of all of

our old achievements and and you know our schooling and whatever and we would go door to door to every single store and we just like hope someone gives us an interview then the internet came and that changed luckily we'd have to go door-to-door anymore and we just got to like send an email to a million companies right and hope one would give us an interview now we get to actually just join the company all of them whichever community we want whatever we're passionate about whatever we're interested in and more importantly whatever we feel we can add value to and we just join in the discord for free we don't have to ask anyone we just literally go in and we start listening we start watching we start seeing what's going on and seeing where can i help where can i bring value and if all of a sudden you can start to

bring value you can do two things one you could just buy some of the tokens of that dow and now you're in it and now you can make money if that dow does better so your contributions could increase the value of that token or if you start to do work and people notice they can say hey why don't you get a role here and now you're on salary or people can tip you in the token or they can pay you for a project so it's really a different mindset of instead of like hey here's what i used to do and i could probably still do this for you like i used to be in sales and i could do some good sales for you well now it's just like you go in and you go start doing sales and if it works people like wow

this guy's you know or this girl is is making money for this company or making a difference for this company let's pay them right and the community can vote and whatever and i think it's just like it's a com it's hard for people to wrap their heads around there's a lot of comments sort of against this um but i think when you start to realize like this is just it's a completely new business don't think of businesses as like an employer and employees it's just a community and a bunch of contributors and those who do they get rewarded right um and yeah it's just it's it's really really fascinating to me and i think those who are doers are going to be rewarded um really really well have you had any experience with this jeremy or what are your thoughts here yeah yeah i was gonna say i feel like you you hit

the nail on the head uh with that uh i know we had a guest on i think it was last week devin and i know that's how he got his start was he was in a discord and just started providing value and they took notice of it and ended up working for the company but also um one of the first things that i saw within a discord um for a nft project i was a part of was and it just blew my mind that there were so many people who were just willing to start contributing whether that was different artwork or you know advice on security um or different things there was one guy who took some of the artwork made like a 3d image of it and then actually 3d printed it and started uh sending it to other owners of the the dnft just for to cover

the cost of shipping um but just people the willingness for people to to hop in and start contributing is a it's just it's beautiful and i've never seen anything like that anywhere before right agreed yeah and i think we're seeing this all the time with people like it's hard for people that are saying who have never been in a dow because it just it just is so different than what we're used to right you have to go through this like process of interviews and meeting people on the team and then like you get in you're like i don't even know what i'm supposed to do and someone tells you what to do and this is just completely flipping that on its head and it's like no look join in if you think you can add value and you like what we're doing like just go do it you know and hopefully it works

and it's it's it's very different and but that to me is the most exciting because again it it it makes a quality for everyone because you can be completely anonymous you can have a picture of a you know of a doodle or whatever you want right and and join in and no one knows your name that your real name they don't know where you're from they don't know your age they don't know your race and no one cares right because all that matters is do you come in and you start making a difference and if you come in and you're a 12 year old kid but all of a sudden you're just like you're crushing it and you're making all these cool ideas and strategy and whatever like people like sweet let's get this guy in whereas there's no way you were going to get an interview as a 12 year

old right um so it's it's yeah it's going to be a a very it already is a very interesting concept and it excites me as an employer myself to not have to deal with interviews and all that and just be able to cultivate a community of people who will just do um i think it's really really cool now there's still a lot of uncertainty of like how do we make sure that these people get paid for the things we're doing and you know are a lot of people just going to accept a bunch of work from randoms and then just never pay them um you know i don't know how that's going to work and i think uh i i have faith that that you know the community will figure these things out and people will be good people um but

i'm sure there's gonna be stories where things didn't work out and it will be unfortunate but um it's a free open marketplace right and and that's that's really what it is and so it's like look if you provide enough value to the business that you're in then i think you're gonna get paid right you're gonna get what you deserve because people are going to need you they're going to want you if you're that good if you're not that good what kind of this happens in the web 2 world it's like we have a bunch of people that have positions where they're not even good but like because they're in a union or something you can't fire them right and that's just that's ridiculous to me um so it's just it creates accountability for everyone and responsibility for everyone and that to me i absolutely love i think it's going

to unlock a lot of innovation um in in business um just because it's going to reward the doers the people that should be getting paid and should have roles um so i'm excited for it for sure and i think a lot of times too a resume doesn't do a great job of really showing what that person can do right you have to there's a lot of trust i think for you as an employer that they wrote a bunch of things down on paper but can they really live up to all of that whereas this like people have the opportunity to just start providing value and it will be seen by you know whoever's making those decisions and it's just it's just uh it's more transparent maybe it just is a better it seems like a better process the amount of people that fake what's on

their resumes anyway i mean i know i've been a a reference for many of my friends back in the day when they didn't have a lot of experience and they needed to they needed to beef up their their resume so uh yeah i love it let's uh let's move on to the next one all right so this is very interesting uh so we talk a lot about utility of nfts and here's a whole new one uh the largest ever nft backed loan okay so someone took a loan for eight million and eighty thousand die that's a stable coin so just say uh eight million us dollars um crypto dollars though and they got this loan by not you know backing it with bitcoin or ethereum like

you would typically do they backed it with a hundred and one crypto punks so they use their crypto punks as collateral first of all i don't know who the hell has 101 crypto punks that's insane i don't know what that's worth but a lot so much but what's really cool here is one um you know these crypto punks have have accrued a ton of value and and especially these there's not a lot to do with them yet they're more just art and in the real world you can use art as collateral so this kind of makes sense it's an asset that um can grow and is scarce um and so now we have a way on chain where you can just you know put your your nfts in as collateral and you're gonna get a bunch of us dollars in the form of die uh and now you can go

and do whatever you want with that maybe they're using it to pay off their mortgage or i don't know what they're gonna do whatever they want um but what's really cool is they're getting this eight million dollar loan but they didn't have to sell any of their crypto pumps because yes these crypto punks are worth way more than eight million probably i would bet that this loan is probably like 4x to 10x backed right like over collateralized but now they don't have to sell the crypto punks so they may still gain in their uh and appreciate in their asset value they don't pay taxes right because they didn't sell anything that's a huge one if you're gonna sell eight million dollars worth of crypto punks you're probably paying four million in taxes so that sucks um so this way no taxes no selling uh and uh and yeah they get

eight million dollars um so really really interesting the apy by the way so the loan what they have to pay back is 10 interest um and uh yeah who knows what they're doing with it i i have no idea but um just a super interesting uh concept yeah i think i don't know enough about it and definitely not financial advice but as far as you know if you had to sell one of them to use that money for whatever you needed to that's a taxable event right and so you're losing some percentage of it and this seems like a much better way to actually just get that usd that you need to go and do whatever absolutely now i mean it's a bit i guess risky for the who i don't know who did it uh meta street is that what i said

sal was the protocol that gave the loan facilitated by medistreet it seems um so like hey a bit of risk but i mean anything anything could be a risk right like look if you had the russian ruble uh you know a couple weeks ago backing loans uh well you got screwed by 50 there too so um you know i think crypto punks have have made their way into being one of the blue chips and so i don't think there's a whole lot of risk there but we'll see how this plays out with other nfts um in the future speaking of blue chips this is this next one uh the creators of board ape yacht club bought both uh the crypto punks and me bits all the rights to those um so that was a a

massive purchase by them and i think it's a it's a really good indication of the future of some of these projects um i know i i agree i think a lot of people think that they're over hyped but this is a this is a big purchase for kind of a long-term vision that they have absolutely yeah this was this shocked me um so for those that are not like super aware of the nft space so crypto punks were the first pfp collection of nfts um that were created um i think cryptokitties might have been for them but they're not really pfps i don't know what those were but anyway i think so crypto punks is one of the first here and so it's gained its reputation as being the first in sort of the like you know um pristine kind of blue chip nft

as a result of that and so a bunch of celebrities have bought them they went up in value like crazy some of them are worth millions um so really cool larval labs created them um once live labs created that then they created the next one called me bits and me bits are is there a picture of them anywhere in here that we can show uh so me bits are like these block-like looking um sort of human-type looking avatars that are 3d and they can move around in the metaverse so inside of i think it's sandbox or maybe some other ones that you can actually program them in and move them around so there's like videos on twitter of people making them dance and do things and once we're all the metaverse it seems like that'll be the new version

of like the pfp like the profile picture on twitter but this time you'll be walking around like a me bit or something else and so larva labs launched them next and uh and they became a big thing um i think their value right now their floor place is around like four or so eats something like that um but also something really cool now larva labs though was this company that made these and then just sort of did nothing with them they didn't create any utility they haven't really done anything and so they've taken a lot of flak from the nft community and they didn't give ownership rights uh i don't exactly know how this works but basically the ip of the crypto punks and the me bits were owned by um larva labs and so they could technically like

sell those rights to let's say movie producers and create a movie and the holders wouldn't get paid so what happened was boarded yacht club which was kind of the second big blue chip that came similar to crypto punks this created like a really big community that started to create like a membership club out of these nfts and it ended up flipping the price of crypto punks the community is huge they have real life events they do ton of different things bunch of celebrities in there as well um they decided they were just going to buy the rights to crypto punks and me bits from larva labs and what they did in their first move was they gave the ip rights to the nft holders themselves um which is super cool that's kind of what web3 and crypto is all about so i think that is a big bonus as to

what else they do i have no idea they did announce that they wouldn't be giving like membership access to the board at yacht club membership to those who hold the crypto punks and the me bits um so but they said they're gonna sit wait see what the community wants and then build from there um so i think for holders of crypto punks and me bits like this is great i think board at yacht club has shown that they are willing to actually do things uh i guess the correct name is yuga labs that's who created board at yacht club um but these guys they they're actually doing things in the nft space and i think they're going to make more utility out of the crypto punks and me bits so yeah really really interesting to see and um and and good for good for you

labs for purchasing this and we'll see what happens with it um and in full transparency i owned amiibit bought one last year and i sold it once this happened and actually what's nice is it kind of like the price of me bits was at like i don't know two or three and it went all the way up the floor to like six or something and i sold for a little higher than that and then now it's down to like four so i feel really good about myself that's not investment advice i'm not a traitor at all i just um it just seemed like a good opportunity for me i'm probably going to be wrong and meetings will go to the moon in a couple days but hey it is what it is i don't really care um yeah yeah that's so i highly highlighted this part i

really liked um they said that we'll be listening to the community before we decide what comes next and for us nfts have always been about culture our vision has always been to build a community-owned brand that extends far beyond nfts and i just thought that was cool that if if they're buying two of the largest projects besides uh board ape yacht club that they they do have the culture in mind and that they want it to be community owned and community driven i think that just speaks to you know the entire web 3 space as a whole absolutely 100 yeah it's all community driven and and i think what's nice about board at yacht club that they do and why their their nfts are worth so much is they've

created utility there's a purpose if you hold one of those tokens or sorry one of those nfts you get access to events with celebrities um you get access to like i think they're buying like a club in miami um they're doing so many different things you were able to mint other nfts we're gonna get to it later but they just launched eight coin uh some token and those of her holders got a bunch of this and they're involved in a dow they're really just they're they're really the pioneers of web three right now in my opinion um and uh it's incredible to watch and learn from because they're just they're doing so much so we'll get we'll touch more on them uh later in in the episode here absolutely this next one is a cool one mark zuckerberg says nfts are coming soon to instagram he announced that at south by

southwest earlier this week right yeah this is big i mean we've seen it already with twitter right we have verified profile pictures on twitter which is um it's a bit gimmicky but people have loved it there's a lot of people that use it and it's it's super cool um and i would assume instagram's gonna do the same thing right you can make your profile picture nft and verify that you actually own it um but if i were instagram and they didn't say what they were gonna do they just said they're gonna integrate mts in some way but instagram is the perfect opportunity to become a marketplace for nfts and take their two percent or three percent or whatever they want um like imagine you just you're posting pictures and you could take a picture of whatever it automatically can get uploaded as an

nft and then you can sell it right there on like it's on your wall or whatever the instagram feed is and you can just sell it right in there someone can bid on it like right in there um i think the the integration of social media and nfts is going to be pretty amazing and it's not going to be like what we see now of like you have your social media over here where you talk about the nfts you have but then if you want to go buy one or get one you've got to go to some like marketplace like random and open c marketplace on a different platform i think instagram is going to integrate those and they'll all become one and it'll be a social platform mixed with nft marketplace mixed with who knows what else they're gonna do um but this one i think is gonna be way bigger than

twitter like twitter twitter was cool what they did this is gonna be huge in my opinion yep this is huge and i thought what was super interesting you kind of just touched on it there but apparently uh zuckerberg said that hopefully in the coming months instagram members will be able to mint their own nfts within the app so i think you're right it makes sense that they would have a marketplace within it that you are actually able to mint and buy sell trade the only question is do they do this on like ethereum or like an actual blockchain or do they do this in like their own centralized gated whatever the hell you want to call it private blockchain thing that they're building in the background

i'm going to assume i've been listening to a lot of interviews with mark zuckerberg lately he was on the lex friedman podcast like last week um it was actually really really interesting conversations like two two hours long three hours long um and it was great and it zuckerberg seemed to be very open to like he was talking a lot about freedom of speech talking about decentralization talked a little bit about nfts actually i think he's leaning towards you know doing this the right way the open way um and he's going to lose if he doesn't and i think he's one of the smartest guys in the world so he's got to see this um because no one's going to use i mean people will still use it but like it won't gain traction long term if it's not on an open

decentralized blockchain like ethereum uh and so i can only hope he does that but we'll see what happens we'll see i think he should do it and just take his two percent on all transactions and fees and away you go you're set you've got a new business model for the future but we'll see that would be a big number so next is this one you want to take this one yeah sure so back to metamask we talked about how microsoft just bought um uh the company that owns metamask didn't buy them sorry but they invested in it um and what we see here metamask just passed 30 million monthly active users which is up 42 in the last four months um and so this is web 3 academy post

that's jeremy it says web3 adoption is happening right before ice what's really interesting about this 42 increase in the last four months has anyone noticed what's been happening in the markets in the last four months we've basically cut the the market cap and the prices of everything by like 50 in the last four months yet we're still gaining an adoption that was really interesting to see um i think you know the macro landscape is really impacting what's going on with everything happening in ukraine and with the um with rate hikes and inflation et cetera so that's really impacting the markets um but we're still seeing growth at the same time and i think that to me is really i mean one it's really bullish but two it's

just exciting it means that even without price like number go up we're still seeing people come into the space and that's huge uh because yes during bull markets when prices are just going like 10x like yeah users are coming into the space but are they users that are coming in to really use this stuff and like learn it understand it or they just coming in to speculate because that's what happens in bull markets but to see even when prices are going down people are coming in that is huge for the space and so when prices start to go back up like i bet you just people flood flood flooded even more for sure yeah and i think what's interesting too is passing 30 million monthly active users is huge but that's that's still so small when you consider

you know facebook has is it two billion users on there um yeah the amount of people who have access to the internet that once we can onboard them to web3f it's just uh it's just it's exciting it's still so early yeah that's it that's a good point so if you look at holders of crypto in total right it's something like 300 million or something was the last 300 or 400 million right now um and so this is you know the people that have addresses on metamask which is 30 million and that's i mean you can have multiple i guess it's active users but you could have multiple wallets and be active with it so it's probably less like actual humans that have these wallets so like you realize how small of people are actually using web3

because to use web3 you basically need metamask right so there's three 400 people 400 million people that own crypto but only a 10 you know 10 of that are actually interacting and using web three um so the growth that we're gonna see in web three in the next you know over the next decade is just gonna be incredible yeah and it's a good reminder too because i'm i'm guilty of having that fomo where i'll see some good news or something i'm like oh why did i not you know sell everything i have in my kidney last month but it's like it's we're still so early and there's still that fomo not necessary this is a big one right here apecoin launches uh

what does this say coin launches for board ape ethereum oh yeah so the the founder of reddit um and some execs from ftx and i said that and a mocha um they have helped launch this this ape coin which is also a dow yeah and this this is apecoin is basically the dow for board eight yacht club so there is a new dow that's inspired by board at yacht club the holders of board at yacht club and the mutant ape uh yacht club or whatever they all receive tokens so they received an airdrop and i don't know what the aim of this dow is yet do they know what this like what the purpose is it to build more utility into

yacht club or what's the play here so their tweet that when they actually announced it it says introducing apecoin a token for culture gaming and commerce used to empower a decentralized community building at the forefront of web 3. so i don't i think i read somewhere that their i think it's board ape uh is planning some sort of game i don't know if they're currently developing that or not but the the token would be used within the game in some capacity right right yeah i mean this just happened like two days ago i think it was two days ago or yesterday that this launch show yeah yesterday so we still don't know a whole lot about it we've heard that this coin was coming um and it's already been listed on coinbase and uh but we'll see

what they do i mean this is again like we said board at yacht club is really pioneering the web3 space with nfts with purchasing nfts which that i don't even know that's even happened before purchasing a collection of nfts now they're dropping tokens and creating a dow um they're just they're moving and when did board yeah even start i think it was like a year ago like a little over a year ago now maybe is when they first launched it was in 2021 um so like these guys are moving at just an insane pace um and now with a dow i mean i'm sure they can move even i don't know but faster but they're going to have you know i don't know how many people have this but let's say thousands of people are now part of this and incentivize to build so um you know now they're gonna be

building games and they're who knows what else they're gonna build but um yeah really really amazing story and just everyone keep your eye on on what board at yacht club is doing because it's they're really just they're pioneering this space and um it's really cool to see whether this dow works out or not i don't know but i can only imagine they're going to figure things out for sure yeah i was going to say i'm going to be watching this very closely because it's it's going to be really interesting to see some some some people at this large scale the the the reach that these people do like how they're going to navigate launching a dao and and you know you know what's interesting to think of community what's interesting here is so who are who are the holders of board at yacht club i know we have like justin bieber

steph curry uh who else i know there's a bunch of musicians and stuff and so now they've all been airdropped like i don't even know how much it is but a bunch of tokens and i wonder if they'll contribute to the dow right um it's yeah it's gonna be very interesting to see how that that all plays out are you buying the eight coin or what um so speaking of fomo i'm trying to uh practice not fomoing and so i'm currently not i i have not purchased any but i feel like in in the future i probably will after it kind of fizzles out a little bit from this crazy hype i can't help but buy anything but eth right now so i'm not i'm not buying yet and it's moving up again finally which is nice yeah we'll see we'll see

all right so next up and this is our final uh discussion for this um for this uh this podcast episode um is the web3 tool of the week and by the way before we get into this jeremy help a job you're doing as your first your first time on an episode here of a podcast i think you're doing a great job uh and listeners i hope that you uh agree as well um one more thing to note actually next monday which is i don't know when is that march what date are we looking at here in case people are watching this later uh march 21st we have a new members meetup uh and everyone who's in the web through academy discord we're getting on a live call together we're going to share sort

of the white paper of web3 academy and roadmap and we want to start to get everyone involved in the dow that we are creating um and we want to make sure the community's involved so i know a bunch of you guys that are in the discord are listening to this whether it's on youtube spotify whatever check it out on uh what is it 4 pm est on monday and actually it's every monday so even if you're watching this this um episode like later on we will have them frequently on mondays so check it out um we want you guys there because we want to talk we want to gain some ideas and we want to get everyone involved um so check that out but okay web3 tool of the week so um let's go to diagonal first so let's flip over to the other tab here so

diagonal just received a two point here it is 2.5 million dollar pre-seed round and i think it was from like coinbase ventures and a few other pretty big names um and what they are creating is crypto native subscriptions um so i founded along with jay a company called impact digital marketing where we are growth marketers for subscription-based products this is all we do as subscriptions um and we work with a lot of the big newsletters and media companies in crypto and none of them are able to accept crypto which all of their customers have crypto and would love to

be paying in crypto i'm sure and none of them can and the reason is crypto hasn't had the ability to do subscriptions right the reason subscriptions work so well is someone signs up with a credit card let's say and then they never have to think about it again every month it just takes off 20 bucks or 50 bucks or whatever um from their credit card it's a great business model it's one of the best business models in the internet right now um and it's just it's it's easy for the customer they don't to think about paying every single month just comes off this is why you have subscription models for like razors and subscription models for i don't know i have one for spanish lessons i have netflix and amazon and we have subscription models for everything literally um and so what diagonal is doing is creating a way for you to have

um non-custodial so you don't have to use like a your bank or like a coinbase or something and have reoccurring payments literally on ethereum and it's gasless and i think they're building on layer two so it's on optimism arbitrarum and maybe polygon polygon i think is the other one but what's really really interesting here and this is going to dive into all of the cool things of web3 so diagonal is a is a front end facing let's call it application okay where this is where you go and you link it into your website or into your protocol whatever it is and then customers can just go in connect to their wallet sign a transaction and boom it starts to do monthly subscriptions now the way

that they've built this is really cool because diagonal finance is what they're called they actually just built on top of another defy application called superfluid so superfluid is the one where they actually built the functionality for someone on the blockchain to connect their wallet and what's called stream payments and so this is going to be a game changer think about this for a second so streaming payments means instead of a membership where you pay once a month let's say 25 or you pay an employee once a month or once every two weeks like we do today let's say you pay them i don't know five thousand dollars every every month instead you can stream payments and so meaning every single second money is moving from your wallet

to their wallet in real time how freaking cool is that for employees they don't have to get right they don't have to wait for two weeks it's just it's always coming or if you have someone on a contract for a couple hours or whatever they're just getting paid literally by seconds over those few hours um and so subscription same thing you know you pay 25 a month but you don't actually have to pay it all up front it just every second is taking a little bit all the way until the end of the month boom it's at 25 bucks so when you cancel you didn't lose out on whatever else um this is amazing for both parties right because you don't have to put the 25 up up front you still have you know it's only a little bit at a time um and then the company is also

obviously getting their payments as it goes as well automatically um so for me i can't wait to use this with our clients i think this is going to be incredible um and i just think it's really cool that we're seeing you know we saw def for anyone who's in d5 you see that they call it the default legos where like one app is building on top of another app and using something from another app and they sort of just all connect because they're open source now we're seeing it here with commerce right with web3 where it's utility to not just finance people but to basically everyone in the world we all use memberships so this is just going to be super super cool diagonal finance i don't think is live yet but it will be soon i think they're

in beta and they're testing with some companies i've already reached out to them i talked to them on twitter i'm trying to get them on the podcast um because i want to hear more about all this and how it's all gonna work um but hell yeah decentralized payments that are subscriptions that are streaming in real time um this is gonna be a game changer i'm super pumped about this well it's just exciting too to think like we we just don't know what the future of web 3 is going to hold like you you could not do this in in the previous financial system like pay an employee every second of every day right they have to wait the two weeks or whatever like this there's just so many applications that we we have not thought of and like this is one that would not have been you know really feasible i

don't know a year two years ago and for the rest of time it's just uh it's exciting all the random new applications that we will come about and think about you know employers right now if you if you run a company or um you have contractors around the world like you know how difficult it is to pay people you either if they're in a different country you either need to use like swift payments uh which is expensive and in slow or you need to use an intermediary like um i don't know upwork for example sometimes you have to use theirs where you got to plug in your money into upwork and then they take a little cut and then they pay the people out whenever they're ready to and there's just like there's so many or you got to use paypal or whatever and sometimes they can block you depending

on where you live and it's just it's it's paying people in this world especially if when it's global it's just super frustrating right um and now it's completely decentralized it's non-custodial it can go to anyone in real time um i'm so excited super cool so cool yeah and especially now with like everything going on in the world i think um it's it's uh not my story to share but it really like struck a chord with me earlier a member of our our team is going through you know some some of what's going on in russia and ukraine and their bank accounts were frozen obviously um and the quote was crypto this works and it's it's just so true to see like

to see it actually um i don't know making a difference out there it's cool yeah actually let's share that story a little further so one of our our team uh team members is from russia and um with the sanctions you know her her payments were blocked her banks were blocked um everything and so thankfully she um she could just get a metamask wallet and uh we couldn't pay her right because we had to use the swift payment system to pay her and uh so she she got up her her metamask we sent her usdc through there and then she was actually able she's actually in um in turkey now and she was able to switch that money from usdc into i forget how she did it it was into like usdt or whatever it was

and she was able to get cash in turkey um for that crypto and so we were able to basically skirt the whole issues that she was having with bank accounts and she never had to use a bank at all we literally went crypto from canada to uh turkey and then she was able to get that into the turkish lira and pay her rent and do whatever she needs to do um and so uh yeah that was her response on the i think it was monday morning it was just crypto this works and we were like hell yeah it does so yeah super cool and excited for um said it for that tool look i think that's it we've wrapped up the the uh this episode jeremy i think you did a great job any final words for this episode anything that you're

feeling or thinking right now or uh what's in your mind it's still still excited just that what three word of the the the week for me was excited also um a big big i don't know appreciation for for what jay does all the time it's it's one thing to watch it and to edit the episode together it's another to be on here and actually part of the conversation so got another another level of respect for both you and jay love it you did a great job listeners thank you for joining us on webgear academy hopefully you learned a lot today um if you guys have questions or things you want us to talk about or discuss please join the discord um the link is in the show notes below i believe it's w3academy.xyz join the discord ask questions and in

these uh roll ups we'd love to answer your questions we may do it in real time right in the discord there but we'd love to discuss things here or if you are doing something cool in web3 you're building something you've launched something you've got a doubt nfts whatever you want to share your story well every single week on tuesdays we do a web 3 doer spotlight where we share what's going on and what people in our community are doing we'd love to share your story so reach out there's also a link somewhere probably in the show notes where you can fill out a form and apply so uh get involved and do that by getting in the web3 academy discord uh jeremy thank you for taking over and helping jay jay we hope that you feel better uh he's he's got the fever and uh

and fever and chills so he's not dude he's a little rough today we actually talked to him this morning and he wasn't he wasn't doing so hot um so hopefully he's better and we'll be back for next week but if not we found a a great co-host jeremy and you so thank you for for doing that and everyone have yourself a great weekend bye thank you for listening to web3 academy we hope this helps you along your web 3 journey if it does please share this episode and subscribe so you don't miss the next one by the way if you have yet to join the discord community you are missing out this is where all the magic happens this is where we learn where we ask questions where we network uh you want to be in there the link to join is in the

description below and finally a quick disclaimer nothing in this podcast was financial advice crypto and web3 can be risky you can literally lose it all in fact if you invest on account of what we say you probably will lose it all so don't do that in all honesty the point of this podcast is to remove the noise of markets and price and focus on utility implementation anyway so you should not take any of this as financial advice thank you friends and see you in the next one