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- 📝 Field Notes #48: Tides Turn
📝 Field Notes #48: Tides Turn
OpenSea layoffs. RaribleX: New NFT marketplace for brands. Yuga x Magic Eden. Web3 in The Simpsons. More banks launch crypto offering. Coinbase Q3 results. Massive OpenAI releases. Top jobs & more.
Hey, it’s Marc. Welcome to my weekly, obsessively curated field notes on crypto & Web3 to help you filter out the noise. ✌️
⏱️ Reading time: 4 min
Boson Protocol – Real Web3 Commerce, with Web2 UX
As the next bull market emerges, so does a new crypto-rich, Web3-savvy demographic, who are demanding authentic Web3 commerce experiences. Uniquely, with Boson, you can sell physical things as NFTs, with a slick Web2 experience while running on a fully decentralized Web3 backend. No more Web3 washing required!
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“Be ready, and welcome it when it is your turn to experience change, for there is nothing like it to heighten your sensibilities and elevate your mind.” – Marcus Aurelius
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✨ Web3 + NFTs
From OpenSea to red oceans 🌊
OpenSea lays off ~50% of staff, adding to a 20% cut in July 2022. Link
Once the top NFT exchange valued at $13bn, it has now ceded much of its worth and dominance to competitors.
Marketplaces for brands. Meanwhile, Rarible has launched RaribleX, letting brands establish their own NFT marketplaces with custom search features and user interfaces, all without coding.1 Mattel and Animoca brands will be among the first users.
More competition. Magic Eden, a multi-chain NFT marketplace, partnered with Yuga Labs to debut an Ethereum marketplace that enforces creator royalties. A missed opportunity for OpenSea?
Punchline: The trend is clear. Expect more specialized marketplaces for different types of NFTs and users, and brands leaning towards white-label solutions for stronger brand alignment and better user experiences.
More from Web3:
🌎 Crypto & Macro
Big finance unchained⛓️
With Bitcoin up 120% year-to-date and a possible US BTC spot ETF inching closer, big finance keeps shipping:
Unchained. JPMorgan went live with its first collateral settlement for institutional clients using a permissioned blockchain last month. UBS is testing a tokenized fund on Ethereum, Citigroup launched "Citi Token Services" in September, and Goldman Sachs unveiled a Digital Asset Platform in January.
Punchline: Big finance is waking up to blockchain's transformative potential for legacy infrastructure. The pace of their strides is picking up.
More from crypto:
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That’s all for now, folks. Thank you for being part of the journey. Back to building! 🚀
– Marc
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Artwork: Refik Anadol, Living Architecture: Casa Batlló at Rockefeller Plaza.
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