The Alpha 06/18 - $113 Million in Four Weeks or Less
The Alpha 06/18 - $113 Million in Four Weeks or Less was first published June 18, 2023 to my email subscribers.?Subscribe here .
This week, I brought together incredible LGBTQ+ leaders on representation in art and influence in web3. It’s important to do real work as an ally every day, not just during Pride month.?Hear the full conversation here .???
Positive Affirmation for This Week
You can’t create from your own source when you’re distracted or maxed on consumption.
Give yourself space to know and create from what’s inside of you.
This Week in Web3...
???Crypto sleuth gets sued . Well-known on Twitter for?exposing scams and rug pulls , blockchain sleuth ZachXBT is being sued by MaachiBigBrother. Maachi is?claiming defamation ?for ZachXBT’s article “22,000 ETH Embezzled and Over Ten Projects Failed: The Story of Machi Big Brother (Jeff Huang) ”, written last year. People on Twitter are?donating to cover ZachXBT’s legal costs .
???ApeCoin DAO under fire . Secretary red_vulkan posted an?ApeCoinDAO org chart? that started the controversy on the six-figure salaries for members of the decentralized autonomous organization's (DAO's) leadership and community council, calling the 20k/month salaries “a complete joke ”. Some users?defended the salaries as fair compensation , but there is a discussion brewing on?cutting these by 50% .
????$6.2 million dollar Goose . Dmitri Cherniak's 'The Goose' (aka Ringers #879) sells at Sotheby's Auction for $6.2M, the second-highest sale of all time for a work of generative art. Punk6529, the winner of the auction,?explained the magic of generative algorithmic art and their own personal history with The Goose .
?????D to the O to the digital collectible . Snoop Dogg is debuting a “Passport Series” NFT collection that will be the first “evolving digital tour collectible,” giving holders exclusive access to his life on the road. Big upgrade from the concert t-shirt.
???Fewo sneaks . Fewocious and adidas Originals are launching a mint pass that gives you access to Adidas sneakers custom-designed by Fewo. The Campus 00 sneakers?drop June 22 , and they will be both a physical sneaker and a digital twin interoperable between FEWOCiOUS’s metaverse, FewoWorld, and adidas’, ALTS.
AI Corner
???Why AI Will Save The World . Marc Andreessen (the “A” in a16z) released a thought-provoking post on the potential of AI to tackle global challenges. I covered the highlights?over on Twitter.
HOT TAKE?? We’re panicking about the ethical considerations of AI right now, but Andreessen thinks the real risk is losing the race on technological superiority. If the US doesn’t win the AI race, China will:?they are full-send on AI ?for government surveillance.
??Is the AI bubble ready to pop? ?Mistral AI, founded by former Meta & Google AI researchers, broke records as Europe’s biggest seed round ever, $113 million dollars. Mistral AI is only four weeks old and they only hired their first employees a few days ago!
HOT TAKE?? Investment money is pouring into anything AI, especially OpenAI competitors. Most of these companies won’t last, so choose your bets carefully.
Web3 Phrase of the Week: KYC
KYC (Know Your Customer) is the act of requesting identification as a financial institution.
Why Does It Matter?
Required for banking and for major cryptocurrency exchanges, KYC services verify your identity and complete any necessary background checks before you're allowed to use a platform. KYC is also used to curb illegal activities.
This Week We're Bullish On...
Klara Vollstaedt (she/they) @kvollstaedt
Klara Vollstaedt ?is a transfem artist based in Canada whose work explores identity, loss, connection, and relationships within a digital world. Her work primarily focused on 3D. Most recently, she was involved with the?Barbie x Boss Beauties ?partnership.