Will Solana be the Web3 version of Apple?

In this week's issue, check out Solana's plans with their upcoming Web3 smartphone, Uniswap's major acquisition of Genie, and a recap of the entire week!

Will Solana be the Web3 version of Apple?
If you like learning about Web3, Crypto, NFTs, and Tech, subscribe to our free weekly newsletter! And if you haven't yet, follow me on Twitter!

gm friends, a lot has happened this week in Web3. Here are some things that just minted๐Ÿ‘‡

  • ๐Ÿ“ฑ Solana bets big on mobile
  • ๐Ÿ  What is Uniswap building?
  • ๐Ÿšš dYdX leaving Ethereum
  • ๐Ÿง  Mark Zuckerbergs plans for NFTs
  • ... and some NFT market analysis and updates

๐Ÿ“ฑ Solana is building a crypto phone, it's very "Apple-esque"

Solana is coming out with a Web3-focused Android smartphone, Saga. And everything about this release reminds us of Apple. Anatoly Yakovenko, the co-founder and CEO of Solana, even presented Saga in his own Steve Jobs moment.

Okay, so why is a blockchain interested in creating a smartphone? Well, Web3 has basically always been browser-based while the majority of the world prefers mobile. Solana is now trying to put all the power of the blockchain into your hands and quite literally.

Saga will feature the Solana Mobile Stack, SMS, which will enable developers to build seamless mobile applications on top of it. Here are some of the key features:

  • Seed Vault: a secure protocol to sign transactions while protecting the private key
  • Solana dApp Store: a place to shop for new decentralized applications
  • Solana Pay: A decentralized payment for immediate transactions at low fees

Additionally, they've shelled out $10 million for developers to build on top of the SMS and incentivize developers.

An ambitious project as smartphones is already dominated by Apple, Google, Samsung, etc (all of who have many years of experience building phones). It'll be interesting to see how this plays out. Personally, I think it'll depend on the developers and applications on the blockchain.

๐Ÿง  What's Uniswap's plan?

Last week Uniswap, the largest decentralized exchange, acquired the NFT marketplace Genie. Genie is an NFT market aggregator where you can buy a batch of NFTs across all major marketplaces in a single transaction. This saves a ton from gas fees, especially on Ethereum.

So why did Uniswap do this? They want to "unlock universal ownership and exchange" in Web3 and impact every major product.

And so far it's working. Uniswap earned more in fees than the entire Ethereum network between 6/14 and 6/21.

With Uniswap officially entering other sectors of Web3, we shouldn't be surprised if we see them extend their products even further such as a wallet. Metamask, for example, has its own token swapping feature. We shouldn't be surprised to see Uniswap come after this next.

๐Ÿ“ฐ The Best Minted News of the Week

dYdX leaves Ethereum for Cosmos

The #1 place to trade perpetual contracts (letting you trade futures or options without dealing with time expirations) is planning to build its own native chain on Cosmos.

Why? Simply because L1 and L2s couldn't handle the throughput necessary. dYdX handles 10 trades per second and 1,000 orders/cancellations, but creating its own chain moves away from decentralization while giving dYdX more control.

Yuga Labs file lawsuit against Nazi claims

Some of the biggest news this weekend were claims from Ryder Ripps and Youtuber Philion over racist imagery by the Bored Ape Yacht Club. The video has over a million views and was even watched live by streamers xQc and Asmongold.

The worst part? They made a rip off collection called RR BAYC and minted for 0.15 ETH each. The collection sold out and even peaked at a floor over 1 ETH. (This has been delisted from OpenSea)

This isn't the first time people complained about racist imagery from Yuga Labs. Ryder Ripps has been making these claims for months now. With the RR BAYC collection, you can only think he's trying to make a quick cash grab.

Yuga Lab's co-founder Gordon Goner and co. responded in this Medium post and then officially filed a lawsuit against the slanderous claims.

Mark Zuckerberg unveils NFT Roadmaps for Facebook & Instagram

Creators will soon be able to monetize their work and make money. Instagram will be expanding towards more creators in the US and eventually be shared in IG Stories.

An additional Creator Marketplace is in the works to help creators get discovered, paid, and share brand partnerships.

NFT Projects and Updates

Thread of the Week ๐Ÿงต

Some other things in Web3

If you like learning about Web3, Crypto, NFTs, and Tech, subscribe to our free weekly newsletter! And if you haven't yet, follow me on Twitter!

Disclaimer: None of this is financial advice. This newsletter is strictly educational and is not investment advice. We are not registered investment brokers or dealers. Trading crypto-related assets are extremely risky. Please be careful and do your own research.

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