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🇳🇱 Digital Currency in The Dam … Farmville Dev Reaps Crypto Rewards … and A Big Win for Coinbase … 🥇

Author

Nahin Talhah
August 22, 2023

🇳🇱 Digital Currency in The Dam … Farmville Dev Reaps Crypto Rewards … and A Big Win for Coinbase … 🥇


What’s up Web3-ers.

In today’s issue, we’re diving into:

  • Europe's first spot Bitcoin ETF “goes Dutch.”

  • Creators of Farmville and Words with Friends make BIG moves into the crypto space.

  • Coinbase shares soar thanks to landmark regulatory win.

  • And how to build authority FAST, whether you’re a big brand, or just one individual making your way in the Web3 world.

SUCCESS PRINCIPLE LESSONS #111

Each week we decode one of the key Web3 principles giving you the inside track on what makes a successful Web3 strategy.

This week’s principle… Authority

If you wanted a new pair of trainers, you wouldn’t think twice about buying from Nike. If you wanted a couple of tees, you’d be perfectly trusting of GAP. And as for anything on Amazon? Well, we share ALL our data with Bezos and co, without even thinking about it.

Why?

Because these companies have authority. And so we don’t even question what happens to our money when we click “Buy.”

In Web2, it took YEARS to build up authority. Meaning new brands had things tough. With Web3 however, the journey to being an authority is a whole lot quicker.

Authority in Web3

Authority in Web3 stems from transparency. Where the blockchain is inherently transparent, transactions are publicly recorded and everything is open source. That means rather than paying for something and assuming it’ll be fine … With Web3, the transparency accelerates the notion of authority.

And it’s not just brands and e-commerce this applies to, either. The same principles extend to individuals. So if you’ve always been a bit of a blagger, beware! Those days might be numbered, and (fortunately) building authority will likely come down to how good you really are at what you do.

Now, on with the main event …

DIGITAL CURRENCY IN THE DAM

Jacobi Asset Management has launched Europe's first Bitcoin exchange-traded fund (ETF) on the Euronext Amsterdam stock exchange. The ETF allows European investors to easily invest in Bitcoin through a regulated financial product.

The fund aims to track the price of Bitcoin, giving investors exposure to the cryptocurrency in a convenient and liquid format. This could increase mainstream adoption as investors curious about crypto but wary of direct ownership can now access Bitcoin through their brokerage account.

While the ETF launch hasn’t dramatically impacted Bitcoin's price yet, it signals growing institutional interest and could drive broader adoption long-term. As more people gain exposure to digital assets via regulated ETFs, negative stigma around cryptocurrencies will very likely decline.

FARMVILLE DEV REAPS CRYPTO REWARDS

If you ever played Farmville, or were borderline addicted to Words With Friends, you probably know of Zynga. They were the brain boxes behind both these crazes, which at their peak had 85 million and 14.9 million users respectively.

Well, the game developer has now moved into the Crypto space, with "Sugartown" on Ethereum.

Players can use ERC-721 Ora tokens as in-game currency, to purchase subscriptions and in-app add-ons. Despite not being in the heady days of the early 2010s, Zynga still has a large user base and a significant reach, with 30 million monthly active users and a potential reach of nearly a billion players.

What’s so cool about this, is that Zynga are yet another gaming company embracing Web3 technology, and the whole industry is really driving growth, helping to reach an ever-expanding user base and accelerate mass adoption of Web3.

BIG WIN FOR COINBASE

Coinbase users rejoice - The platform has finally gained regulatory approval in the US for Bitcoin and Ether futures.

The approval enhances Coinbase's credibility, potentially attracting more retail and institutional customers. And we saw an immediate impact, with shares of Coinbase rising 3% to $81.55 after the announcement.

This decision essentially means the firm can now operate as a Futures Commission Merchant (FCM), for BTC and ETH. The only downside? The service won’t be available immediately, and will only be available to users in the US. At least initially.

☎️ READER REQUESTS

Every week we pick one lucky reader’s question, and give you a full rundown here. Today’s request comes from Lucy who wants to know…

“Whats The Difference Between Centralisation And Decentralisation?”

Imagine you and 5 others are invited round to a friend’s house to watch a movie. In a centralised set-up, the host would decide EVERYTHING. 

They’d pick the movie … Who sits where … What snacks were on offer … Maybe even when (or if!) you’re allowed to take a break for the bathroom. Basically, in a centralised world, one person (or one authority) has the deciding vote in every single decision.

Let’s flip that scenario on its head though, and imagine our movie night is given a decentralised structure.

Here, you might either have a friendly chat about what you wanted to watch, who sits where, what you eat, and so on … Or you might even randomise it further, by playing a game to make the choices even.

Regardless, the whole point of decentralisation is that everyone’s choices matter equally, and the outcome decides the final decision. Everyone contributes to the choice, and no sole person wields absolute control, giving much more ownership to every single user.

THAT’S A RITELIST (W)RAP …

We always love hearing from our readers …

So if you want to reach out with a question, comment, or a suggestion for the best gluten-free baked goods, or what to watch on Netflix (nothing too scary though please,) just hit reply to this email, and we’ll get right back to you.

Alternatively, if you want all-hands access to our Mini MBA in Web3 download our 2023 Course brochure below.

Until next time…