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We know it's tough keeping up with everything that is going on in the Web3 space; that’s why at NFT Sydney, we strive to bring you the juiciest news through our newsletters. Stay in the loop by subscribing here.

With Avatar NFTs, Reddit introduces 3 million people to cryptocurrency.

The avatars, which were created by independent artists and Reddit creators, provide users with platform benefits (such as distinctive profile animations) and let Redditors use their avatars in any way they like outside of Reddit. The limited-edition collectibles based on Snoo, the mascot of Reddit's social media site (called CryptoSnoos NFTs) on 24 October, generated $2.54 million in sales.

The outcome is a vibrant Reddit community of individuals truly interested in showcasing their NFT avatars, more devoted collectors, and less speculative discussion.

Compare this to Discord, which saw severe criticism from users who cancelled their Nitro memberships once it was revealed that NFT functions would be included.

Interestingly the avatars use the term digital collectibles instead of NFT, and this has helped new users to familiarise themselves with the technology without being biased by the current perception of the NFT ecosystem.

This thread will help you navigate the Reddit Collectible Avatars project.

Instant avatar

One of the most interesting part of the Meta Connect event are the instant avatars. Thanks to the power of complex algorithms we will soon be able to create our own avatar directly from our phone.
It will be interesting to watch how creators, brands, and businesses leverage this in the #metaverse and other virtual applications.

Our co-founder @S̷̮͉͉̘̺̲̹̰͋̍̍̒͜IMƠ̴̬̬̭̟̜̜̼̹͇̿͊̀͋̋͋̐ envisioned a similar technology in his Twitter post just before the Meta’ announcement.

The 2022 Geography of Cryptocurrency Report by Chainanalisys

As cryptocurrencies continue to gain popularity, everyone is taking note and incorporating digital assets into their financial plan, including banks, institutional investors, and regular consumers. But there are significant regional differences in bitcoin adoption trends. The paper published by Chainanalisys is one of the first to attempt to quantify those variations by examining geographical variations in bitcoin adoption and use cases using blockchain analysis and expert interviews.

Crypto, Twitter and Elon Musk

What does Elon Musk being the new twitter CEO imply for cryptocurrency on Twitter? In a recent article Bloomberg offered several ideas for how Musk, who has a tumultuous history with cryptocurrencies, can integrate more of them into Twitter.

Musk is a supporter of free speech and is not a fan of lifelong restrictions. The new Twitter might follow his values. In spite of the fact that he has previously stated that "blockchain Twitter isn't possible. Digital assets may be included in a Musk "mega app" that expands Twitter into chat, gaming, payments, and more. And yes, NFTs might potentially come into play.

The rise of crypto phones

Crypto phones are on the rise.

ICYMI

Recently the Solana Saga crypto phone became available for pre-order, and fans of the Solana blockchain may now pay a $100 refundable deposit toward the $1000 balance that will be payable when the phone comes in early 2023.

And just after Solana latest news about its mobile phone, it's now time for Vertu to announce its first luxury web3 phone which will be packed with world first features.

The Metavertu is a Web3-focused device that manages its own node and quickly converts images and videos into NFTs.

The entry-level model comes with a carbon fibre finish, 12GB RAM and 512GB internal storage and a $3,600 price point, while the top-of-the-line model, meanwhile, has 18GB RAM and 1TB storage, and comes wrapped in "Himalaya Alligator leather," 18K gold and diamonds and will cost around $41,000USD.

The magic receipt for web3 Product Market Fit

ICYMI - Builder Pill  - @rafathebuilder explains in his thread how to PMF in web3. **

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