NFTPILL TL;DR #024 ◕‿◕ )づ Fortnightly update for innovators in the Web3 space

Welcome to NFTSYD Pills #24! Your curated guide to the best of Web3, simplified. High-quality news made digestible.

Whether you're an expert or a newcomer, there's something for you.

Your guide to the best of the Web3 universe just got even better, let's dive in!

Disclaimer: The information provided in this newsletter is for general informational purposes only and should not be misconstrued as financial, investment, or other professional advice.


Celebrating Victa Phu's Remarkable Win at the Consensys Hackathon

Hello, NFT SYDNEY Community! 🌟

We're beyond thrilled to share some fantastic news with you all. One of our very own, Victa Phu, has clinched a major prize at the recent Consensys Hackathon! 🏆

🎮 King's Counsel: A Game-Changer in Blockchain Gaming

Victa's project, "King's Counsel," is not just another blockchain game; it's a revolution. The game operates on two blockchains — Polygon for the black side, and Linea for the white side. Players must own FKC tokens to participate, and the gameplay is driven by community consensus. Each move costs 1 FKC token, and players collaborate to win rather than competing individually.

🌈 A Testament to Community and Innovation

Victa's win is a shining example of what our community can achieve when we come together to innovate. It also underscores the life-changing opportunities NFT SYDNEY aims to provide its members.

🙏 A Big Thank You to Consensys and Our Community

We'd like to extend our heartfelt gratitude to Consensys for organizing such an impactful hackathon. We're also grateful to our community for rallying behind Victa and making this win possible.

The #ChainOfCare Initiative: A Collaboration Between NFTSYD and Feel Free Dance Studio

Fostering Community Wellness Through Web3 and Dance

NFTSYD is pleased to announce a partnership with Feel Free Dance Studio. The #ChainOfCare initiative is designed to offer a balanced approach to wellness, combining the benefits of Web3 technology and dance for the Sydney community.

What's Available?

  • First Class Free: Try a dance class at Feel Free Dance Studio at no cost (all classes are, not just Tuesdays :)

  • 10% Discount: Receive a 10% discount on future classes at the studio

  • Eligibility: Minting an NFT or holding a POAP from NFTSYD provides access to these offers

Inclusive Wellness

The #ChainOfCare initiative is open to everyone — whether you're young or old, a family with children, a couple, or single. Dance is more than just physical exercise; it's also a social activity contributing to mental wellbeing.

The Importance of Movement

Drawing from the ethos of Feel Free Dance Studio, the initiative encourages participants to view dance as more than just a way to stay fit. It's an avenue for self-expression and cultural appreciation, contributing to a well-rounded lifestyle.

Get Involved

We welcome you to participate in this balanced approach to community wellness. It's not just about 'touching grass'; it's about engaging in a more active and connected lifestyle. Read more:

👇👇👇 Get in on the action—mint and back this project today!👇👇👇

Securing this NFT below isn't just a purchase; it's a support for communal growth and a ticket to owning a piece of history.




🚨 Hack of Vitalik Buterin's X Account Leads to $691K Stolen

Hackers gained control of Ethereum founder Vitalik Buterin's X account (formerly known as Twitter) and stole over $691,000. The hackers posted a malicious phishing link that compromised people's wallets. According to blockchain analyst ZachXBT, 73% of the stolen assets were in the form of non-fungible tokens (NFTs). The method of the attack and the involvement of insiders remain speculative.

👗 Fashion Meets NFTs

Jing Daily reports on how Karl Lagerfeld and Diesel are embracing NFTs in Milan Fashion Week. The article discusses the intersection of fashion and technology, highlighting how NFTs are becoming a significant part of the fashion industry.

🎨 Jack Butcher Showcases "Nopepen"

Jack Butcher introduces "Nopepen" by Vince Van Dough.

🎥 CryptoPunks Announces Docuseries

CryptoPunks members are introducing a definitive docuseries, "Punks As Told By CryptoPunks," which will accompany their upcoming book collaboration with Zak Group. The first episode is set to drop on October 10th, 2023.

🏎️ Animoca Brands and Honda's NFT Strategy for F1

Animoca Brands Japan is collaborating with Honda, Gryfyn, and GET Protocol to integrate NFTs into the 2023 F1 events. The partnership aims to offer unique experiences to attendees through blockchain technology. Honda plans to distribute Honda KEY NFTs to lottery participants and attendees will receive a commemorative NFT. The initiative is part of a larger strategy to amplify fan engagement in Honda’s motorsport activities.

🌌 Animoca Brands' Mocaverse Funding

Animoca Brands has successfully raised $20 million for its Mocaverse project. This funding round highlights the growing interest in virtual worlds and NFTs, marking a significant milestone for the company.

🦍 ApeCoin's Innovative Sister DAO Proposal

ApeCoin, the governance cryptocurrency for the Yuga Labs community, is undergoing a significant transformation. A proposal known as AIP-297, introduced by Yat Siu, founder of Animoca Brands, suggests creating a sister DAO and an NFT treasury exclusively for the ApeCoin ecosystem. The proposal has received overwhelming support, with over 73% of the community’s voters backing the initiative.

🎨 Spotlight on Zora NFTs

OnSpotlight showcases unique Zora NFTs, offering a deep dive into the art and the artists behind them. The platform serves as a marketplace and a gallery, providing a space for artists to gain visibility and for collectors to discover new pieces.

Cool Cats in Macy's Parade 🎈

Cool Cats announced that they will have an official balloon in the Macy's Thanksgiving Day Parade. The tweet reveals the first look at the balloon and invites people to see it in person, marking a significant moment for NFTs in mainstream culture.

🛒 Walmart's Metaversal Retail Experience

Walmart is stepping into the metaverse with dual retail experiences, aiming to offer both virtual and physical shopping options. The retail giant is partnering with several metaverse platforms to create virtual Walmart stores, where users can shop for digital goods. The move is part of Walmart's broader strategy to integrate into the digital world and offer a seamless shopping experience.

🎮 Roblox Joins PlayStation

BBC reports that the popular children's gaming platform Roblox is set to launch on Sony's PlayStation consoles. The move aims to expand Roblox's reach, which already boasts over 60 million daily players.

📰 Friend Tech Look-Alike Alpha Bitcoin Network

The article discusses the Alpha Bitcoin Network, which is a decentralized platform that aims to offer a more secure and efficient alternative to traditional financial systems. It focuses on how the network's technology is designed to be user-friendly and accessible, even for those who are not tech-savvy.

📈 Friend Tech's Explosive Growth and Concerns

Crypto__Kermit discusses Friend Tech's rapid growth, outperforming ETH NFTs in terms of volume and onboarding 4x as many new users. However, the tweet also raises concerns about the platform's long-term sustainability.

🎵 3LAU's Cautious Approach to Friend Tech

DJ and crypto enthusiast 3LAU announced his decision to off-board from Friend Tech due to perceived risks. While he commended the platform, he chose to donate the 8 ETH he made to a music-specific charity, the Paid In Full Foundation. His tweet serves as a cautionary tale for those diving into new crypto ventures.

🗳️ Leadership Transition in FWB DAO

Snapshot's proposal outlines a new leadership structure for the Friends With Benefits (FWB) DAO. The proposal aims to introduce a Community Council to work alongside the Mayor and Core Team. This council will be responsible for providing guidance, input, and accountability. The proposal comes after a failed attempt to transition to a three-seat council, which was not well-received by the community. The new structure aims to balance centralized leadership with decentralized governance, offering a promising path for the DAO's future.

🐱 SEC's Action Against Stoner Cats

The SEC has charged the creators of the Stoner Cats NFT project with selling unregistered securities. The company behind the project has agreed to pay a $1 million civil penalty and will establish a "Fair Fund" to refund investors.

The article delves into the current state of the NFT market, revealing that it has slowed down dramatically. It presents data showing that 95% of NFT collections are currently worthless, highlighting the high-risk nature of the NFT market. The article also discusses the environmental impact of NFTs and suggests that the future of NFTs lies in their utility rather than speculative buying.

📰  Nouns Fork: Disgruntled NFT Holders Exit With $27 Million From Treasury

The Ethereum-based Nouns NFT community experienced a significant fork, with holders of over half of all Nouns NFTs opting to leave. They withdrew more than $27 million in ETH from the project's treasury. This move indicates a lack of confidence in the current Nouns DAO format, which has funded various Nouns-themed projects since its inception in 2021. The fork was facilitated by a Nouns protocol upgrade that allows NFT holders to propose a fork and reclaim a share of the treasury.

🍴 Forks are Good: A Deep Dive into Crypto Forking

The article on Jacob Energy discusses the concept of "forking" in the context of Nouns, a crypto project. It argues that forks are not necessarily bad but can be a new feature that adds value.

💳 Crossmint Joins Mastercard Program

Crossmint is partnering with Mastercard's Start Path program to accelerate the enterprise adoption of NFTs and digital assets.

💳Visa's Stablecoin Transactions

Visa is now capable of sending the stablecoin USDC over Ethereum. This move signifies a significant step in bridging traditional finance with the crypto world, offering a glimpse into the future of digital transactions.

PayPal's Crypto to USD Off-Ramps 💵

PayPal has introduced a new feature allowing users to convert crypto tokens to USD directly into their PayPal accounts. This "Off Ramp" service is initially available for U.S. users and integrates with MetaMask, dApps, and NFT marketplaces.

📊 Regime Change in Stablecoins by Nic Carter

The PDF presentation by Nic Carter delves into the evolution and future trends of stablecoins. It discusses the parallels between Eurodollars and stablecoins, regulatory responses, and the growing role of stablecoins in the global financial ecosystem.

🌏 Circle and Grab Pilot Web3 in Singapore

Circle, a global fintech company, is partnering with Grab to pilot Web3 experiences in Singapore. The collaboration aims to explore the potential of decentralized technologies in enhancing financial services and user experiences.

🤔 Tether's Lending Practices Under Scrutiny

A Bloomberg opinion piece delves into Tether's lending activities, questioning the transparency and regulatory oversight of the stablecoin issuer. Bloomberg’s article suggests that Tether's lending practices could pose risks to the broader financial system.

🔒 Ledger's Privacy On-Demand

Ledger aims to launch a private-key recovery service by year-end, enhancing user security and potentially broadening its customer base.

🌅 ConsenSys Announces the Sunset of Truffle and Ganache

ConsenSys has announced that it will be sunsetting its popular blockchain development tools, Truffle and Ganache. The move is part of a broader strategy to focus on other projects and technologies. The article discusses the impact of this decision on the blockchain development community.

🛠️ MetaMask's Wallet Customization

MetaMask is entering a new era with its Snaps Open Beta, allowing for more wallet customization. This feature aims to enhance user experience by providing more control over wallet functionalities, setting a new standard in the crypto wallet space.

🔒 Enhancing Blockchain Security with ERC-7512

The article introduces ERC-7512, a standard for representing smart contract audits on-chain. The initiative aims to bolster blockchain security and trust.

🎉 Optimism Announces Airdrop #3

Optimism is launching its third airdrop, allocating 19M OP to over 31,000 unique addresses. The aim is to reward those who have positively contributed to governance within the Collective.

🤝 Uniswap and Coinbase Fund Public Goods

Crypto giants like Uniswap and Coinbase are collaborating to fund public goods. The Forbes article elaborates on this initiative and its potential impact on the crypto ecosystem.

🛠️ RabbitHole Introduces Quest Protocol Rewards

RabbitHole announces the introduction of Quest Protocol Rewards. Quest creators and referrers can now earn on-chain rewards, encouraging more quests and greater participation.

🕸️ Spiderchain: Ethereum Meets Bitcoin

Spiderchain plans to build an Ethereum layer on Bitcoin, aiming to merge Bitcoin's security with Ethereum's smart contract capabilities.

🛡️ Balancer Addresses DNS Attack

Balancer DAO is actively working to resolve a DNS attack affecting its user interface. The organization has advised users not to interact with its website until further notice. This incident highlights the vulnerabilities even well-established crypto platforms can face.

🔄 CZ Binance Addresses Management Changes

CZ Binance clears the air about recent management changes at Binance US. Brian Shroder is taking a break after two years of leadership, during which the company raised capital, improved its product, and gained market share. CZ introduces Norman Reed, a former SEC, New York Fed, Ripple, and DTCC executive, as the right person to lead in the current market.

🏦 Citigroup Dives into Tokenization

Citigroup has launched a tokenization service aimed at institutional clients, focusing on cash management and trade finance. Utilizing blockchain technology and smart contracts, the service aims to streamline traditionally cumbersome processes like bank guarantees and letters of credit. In a pilot program, Citigroup collaborated with shipping giant Maersk and a canal authority to expedite these processes. The bank anticipates that the tokenization of digital securities could become a $4-5 trillion market by 2030.

🗳️ Mobilizing Crypto Advocacy

Coinbase is launching an initiative to mobilize 52 million crypto owners in the U.S. into a potent political force. The campaign will focus on nine key states and aims to challenge the financial status quo by advocating for clear crypto regulations. The initiative includes a comprehensive media campaign and on-the-ground organizing efforts.

🎓 Stanford Returns FTX Donations

Stanford University has decided to return all gifts received from cryptocurrency exchange FTX. The move comes amid growing scrutiny of the ethical implications of accepting donations from crypto entities.

🤖 TikTok's AI Transparency Move

TikTok is introducing labels for AI-generated content to enhance user transparency. This could set a new standard for social media platforms.

🚀 Crypto Startup School: A New Wave of Entrepreneurs

This article serves as an introduction to Andreessen Horowitz's Crypto Startup School. It aims to educate aspiring entrepreneurs about the crypto space, offering a seven week course that covers various aspects of blockchain technology. The course is designed to foster innovation and entrepreneurship in the crypto ecosystem. It's a must-read for anyone looking to dive into the world of crypto startups.

💼 Blockchain Capital Raises $580M for Gaming and DeFi

Blockchain Capital, a venture capital firm, has successfully raised $580 million to fund initiatives in the gaming and DeFi sectors. The firm aims to drive innovation and adoption in these rapidly growing markets.

💰 Bastion - Web3 Startup Raises $25 Million in Seed Funding

A Web3 startup (Bastion), co-founded by former a16z crypto executives, has successfully raised $25 million in seed funding. The funding will be used to develop decentralized applications and services, further promoting the adoption of blockchain technology.

💸 Mark Cuban's Crypto Misstep

The billionaire entrepreneur, Mark Cuban lost $870,000 in a crypto scam. The article delves into the details of how Cuban fell victim to the scheme, serving as a cautionary tale for investors in the volatile crypto market.


“It's not what you sell that matters as much as how you sell it!” — Brian Halligan

Disclaimer: The information provided in this newsletter is for general informational purposes and entertainment only and should not be construed as financial, investment, or other professional advice. Any reliance you place on the information provided is strictly at your own risk. The content is not intended to be a substitute for professional advice or judgment and should not be relied upon for that purpose. NFTSYD makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the newsletter or the information, products, services, or related graphics contained in the newsletter for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will NFTSYD and its contributors be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this newsletter.

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