January 2024 Updates and Thoughts in the Creative Web3 Space

Hey, Reflection readers!

Wow, the first month of 2024 is already coming to an end...how did that happen?

It's been a tumultuous time to kick off the new year when it comes to Web3 with the craziness of the Bitcoin ETFs (this is a great explainer article by Decrypt if you're still confused) amongst other things, so I wanted to start by highlighting why I think this year will be a turning point in the web3 space and things to watch out for:

• Usability. Usability in web3 is coming on leaps and bounds and I see this only improving in 2024. Opensea recently introduced email wallets making the process a lot easier to buy your first NFT and many platforms are pushing elements of the tech into the background. Not to hide it, but to improve it for the masses.
• Community. Many businesses and platforms will be focusing more on community in web3 this year. It's always been a big part of the tech, but I feel it's going to be pushed even further when it comes to focusing on 'superfans', especially when it comes to the music industry. Connecting artists with true fans is going to be so important.
• Usefulness. We all know there are projects out there that use web3 tech for the hell of it. For some it's the flavour of the month, doesn't improve upon the solutions that were already there, and just confuses people. I think now that we're getting to a stage where more people are familiar with the tech and have been hands-on with it for a few years, use cases are going to flourish even more and web3 will be used more out of necessity rather than 'just because'.
• Regulations. This is a tough one to predict. In the US I can't even second guess what the SEC is planning next and regulations are still separated the world over. I do see an improvement in cohesion (both for the better and the worse) but I also see true and improved regulation taking years with many setbacks.

I truly feel 2024 is going to be a pinnacle year for web3. The media will continue to highlight the good and the bad, I'm sure there will be more controversies as well as highlights, and I'm interested in seeing what happens with the bitcoin 'halving' happening around in April.

Exciting times ahead in the whirlwind that is web3... I wouldn't have it any other way.

Art

"According to a?recent report?by digital art fund?Grail Capital, the digital art market on the Ethereum blockchain closed out 2023 with $5 billion in market value."

Taken from an article in 'NFT Now' , this represents a 65 percent rise from its low of $3 billion in late August 2023.

This is promising news and a good start for the crypto art industry to follow up into 2024. The article also points out "a discernible shift towards quality in the market dynamics.

For me, this is important as it signifies the space is 'growing up'. The fine art industry, and more importantly, collectors, are starting to see the benefits of digital assets for collecting, provenance, safety, and improving the links between the physical and digital.

Music

Big music labels are starting to take a lot more interest in web3. A few dipped their toes in during 2023 and now some are taking it to the next level.

Through a grant scheme offered with a collaboration between Polygon Labs and Warner Music Group, the duo has recently announced two grant recipients for the inaugural Web3 Music Accelerator program .

The first is MITH, a fan engagement platform that enables artists to unlock AI-driven insights and analytics while maintaining ownership of their first-party data on audiences. The second recipient is the Muus Collective, which develops fashion-centric experiences, including mobile games, entertainment, and digital collectibles.

I'll be keeping a strong eye on as initiatives like this develop over the year.

Fashion

Here is another good article by NFT Culture (they're on fire at the moment) about AI and Web3 transforming the future of fashion in 2024. It dives into the emergence of digital luxury bands, AI-driven personalisation, and how NFTs have the potential to become the new status symbols.

I see and take the article's points, but as for NFTs as status symbols...we've seen this happen and fail before. Remember all the celebs buying bored apes? That didn't end well for most. It could still happen, but for me, fashion is more suited to the physical and digital market and always will be. Although if the metaverse continues the way it is, online personas with digital clothes still has the potential to be huge.

Calling All Women Artists!

This month I want to tell you about the Open Call we currently have running at RealNifty in partnership with the wonderful social art platform, HUG ?? .

We're inviting talented?women artists?to submit their physical and digital fine art for inclusion in a compelling collection designed to inspire, empower, and captivate with the chance to win a $500 grant!

Entitled, 'Empowering Women Artists', your work will be showcased alongside contributions from accomplished women artists worldwide, each sharing a unique narrative and showcasing exceptional talent.

To participate,?artists are required to submit physical and digital artwork that is unlisted or unminted for consideration. Our esteemed curators will carefully select 5 winners,?with one standout artist from the group receiving the grant.

To apply, click this link to be taken to the open call page with further details. If you have anyone in mind who you think should apply, please tag them!

Ready to learn about web3 in the new year? I've got you covered.

This article highlights 12 platforms and courses to gain the skills necessary for your start in the web3 industry.

My standouts are as follows:

1) Web3 University: a variety of lesson tracks that include tutorials on various topic areas of Web3 development. Track topics include NFT building and smart contract creation, as well as courses on blockchain-centric programming languages such as Solidity and Solana.

2) Udemy: Udemy is an e-learning platform offering video courses on a variety of topics. Users can log on to Udemy and search for the topic they want to learn about. Udemy has several blockchain courses available on its EdTech platform.

3) Right here on #LinkedIn: LinkedIn Learning has a Web3 content section that users can access for a fee. It offers course videos that typically last less than an hour and entire Learning Paths that last upward of nine hours. Common topics include the basics of blockchain, metaverse, Bitcoin and the interaction of blockchain and business.

That's it for this month, folks. As always, I welcome comments and discussions! See you in February...

Jamie

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Hi, I'm Jamie, the CEO of RealNifty . I help the digital and physical worlds connect through NFTs. Subscribe to my newsletter if any of the above content interests you!