📝 Web3 Field Notes #29 - Yoga, Music, and Global Web3 Adoption

Hey, it’s Marc. I write about Bitcoin, Web3, and brands. ✌️ Welcome to another issue of my obsessively curated field notes to help you filter out the noise.

Special announcement: Last week, NEAR has joined as an exclusive partner of Demateriald.xyz.✨

⏱️ Reading time: 3 min

Dematerialzd.xyz is brought to you by NEAR. 

NEAR isn't just a Layer 1 blockchain - it's the Blockchain Operating System for an open web. Unlike other next generation blockchains, NEAR was built from the ground up to be easy to build on for developers and accessible and simple to onboard for their users. Create and discover decentralized apps, and help build the future of the web, today.

“Memes narratives, community and Web3 tech = Composable creativity & Co-Creation” ― Jamie Burke, CEO Outlier Ventures

📚 Key Reads

• Factors of decentralization of Web3 protocols. By a16z. Link

• The future of Web3 IP. By Outlier Ventures. (audio) Link

• Alo Yoga’s Global Head of Marketing & Innovation on NFTs & community. I love how Alo Yoga approaches Web3. By by Anthony Day and Diego Borgo. (audio) Link

• Global survey on crypto and Web3. By ConsenSys. Link 

🚨 What caught my eyes

✨ Web3 + NFTs

• Warner Music Group partnered with Polygon for a new Web3 music accelerator to support companies and entrepreneurs operating at the intersection of music, technology, and Web3. This is not Warner Music’s first foray into Web3. The company has been one of the most active mainstream brands looking to leverage Web3 tech for fan engagement and brand value. Link

• After Beijing released a Web3 whitepaper in May, Shanghai has unveiled a megaplan that aims to help its tourism and culture sectors to generate 50 billion yuan (US$6.9 billion) in metaverse-related revenue by the end of 2025. The city's vision is to build a metaverse ecosystem that integrates technology, culture, entertainment, education, and tourism. Link

• Polimec, a decentralized funding protocol developed on Polkadot, and Deloitte Switzerland have announced a collaboration to issue reusable Know Your Customer (KYC) credentials to enhance regulatory compliant fundraising. These banking grade KYC credentials are multichain, ensuring data ownership for all stakeholders​, and could be used for various additional use cases in the future. This initiative could be crucial for digital identity in Web3. Link

🌎 Crypto & Macro

• ConsenSys unveiled its global survey on crypto and Web3. The highlights: While 92% of respondents reported an awareness of cryptocurrencies, only 8% were very familiar with the concept of Web3. Among people familiar with NFTs, 76% in the UK have never owned an NFT, compared to only 24% of respondents in Vietnam. This shows how niche Web3 still is – lots of opportunities ahead. Link

• Staked ETH hit the 20m milestone, doubling since the start of year. Staked ETH makes up roughly 16% of the total 120.2 million ETH in circulation. This is still well below the average of around 60% of the top 20 PoS networks.1

• Asset manager Fidelity is preparing to file with the SEC for a spot bitcoin ETF, joining Blackrock, WisdomTree, VanEck, and others.2 This comes amidst a more positive sentiment in the crypto markets, which investors view as a vote of confidence​. Link

• HSBC, one of the world's largest banks, has announced that it will allow its customers in Hong Kong to trade Bitcoin and Ether future ETFs on its online platform. This is a significant move for the bank, which has previously been cautious about cryptocurrencies, and comes amid a push by the city to establish itself as a hub for the alternative asset class. Link

🧠 AI

• MidJourney, one of the most popular generative AI tools, released version 5.2. Competitors include OpenAI’s DALL-E and Stable Diffusion. Link

• Databricks announced plans to acquire generative AI startup MosaicML in a ~$1.3bn deal set to close by July 31; MosaicML debuted in 2021, raised $64M, and has 62 employees. Link

• ChatGPT now lets ChatGPT Plus users use Bing’s web search on iOS. It allows to search the internet in real time with results being tied to a ChatGPT answer.

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🚀 Interesting Start-Ups

• Spindl: Solves Web3 attribution. Just joined forces with Addressable.

• Dimo: Dimo is an open connected vehicle platform allowing drivers to monetize the data from their vehicles. Over 14k vehicles are now minted onchain and connected to the network.

That’s all for now, folks. Thank you for being part of the journey.

Back to building! 🚀

– Marc

🐦 Tweet of the week

📈 Top charts to share with friend

🎨 Artwork: “Tropical Bliss”, by Palette Box