Web3 entrepreneurship in action

Welcome to GM, BFF, a newsletter hitting your inbox every week with key insights from web3, crypto, our community and beyond.?This newsletter is written by?Guest Editor Megan DeMatteo?while I am on maternity leave.

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Web3 undoubtedly inspires innovation and attracts creative entrepreneurs.?

You know the kind of people we’re talking about: those friends or colleagues who pivot until they settle into a role that feels?made?for them — even if that role didn’t previously exist before blockchain hit the scene.

Or maybe, the artist who pairs their design skills with business-savvy sensibilities and spins up, seemingly out of nowhere, a product you can’t believe you ever lived without.

But you don’t need to be an entrepreneur yourself to find your hustle in Web3. Simply owning an NFT can be entrepreneurial in and of itself.?

Today, we are covering the fascinating and evolving topic of NFT licensing: Have you ever thought about licensing your NFT artwork to make extra cash??

A number of NFT projects like?Not Your Bro,?World of Women?and?Bored Ape Yacht Club?give either limited or full Commercial Rights to holders, letting them spin off branded products and seek co-branded partnerships with companies that want to feature the artwork.

Here are the steps:

?? Check the kind of license that your NFT grants holders.

? Consider your options:

• Individual holder??Try spinning up a white-label product or partner with a supply company to create a limited-edition co-branded NFT product line.
• Own a consumer product business already??Create a special-edition product based on popular NFT art.
• Have entertainment industry connections??Pitch a movie, show or book series based on your favorite PFPs.

?????? Hire an IP lawyer specializing in NFTs.

???? ?? ???? Partner with an NFT matchmaking service like?Snowdrop.

Read How to License Your NFT Artwork On BFF Discover

Want more entrepreneurial inspo??Check out this week’s Discover articles on the?BFFs who are elevating the cannabis industry with stylish accessories, or the?MBA grad who pivoted her way from Wharton to Web3.?

Catch Up Quick?

Starbucks officially launches its Odyssey NFT loyalty program.?The Beta experience launched on Dec. 8 to a small group of waitlist members including customers and employees.

Ledger = the new iPod??This week, pre-orders went live for the new Ledger Stax hardware wallet. The credit card-sized device was designed with help of iPod creator Tony Fadell, who showed off a?Deadfellaz NFT?during the unveiling.

SBF agrees to testify.?The former CEO of now-defunct FTX replied to Rep. Maxine Waters in a Tweet, saying he is willing to appear before Congress on Tuesday.?

‘Metaverse’ loses word of the year to … ‘goblin mode.’?Votes are in for the Oxford Dictionary 2022 Word of the Year, and the public out-voted “metaverse” in favor of?“goblin mode,” slang for "unapologetically self-indulgent, lazy, slovenly, or greedy behavior,” as defined by Oxford.

Ethereum developers opt to delay surge to prioritize staked ETH withdrawals.?Ethereum’s developers are delaying the implementation of The Surge, the network’s sequel to The Merge, in order to provide a window for stakers to withdraw their ETH before the next major upgrade.

Gnosis undergoes its own merge.?On Thursday, Dec. 8, the Layer 1 network, Gnosis Chain, became the second blockchain to transition to Proof of Stake consensus via a chain merge. Gnosis Chain now boasts more than 100,000 nodes, ranking No. 3 in number of nodes behind Ethereum and Bitcoin.?

Tim Ferriss joins Web3.?The author topped NFT sales charts with pieces from his emergent fiction project, "The Legend of Cockpunch." All primary sale proceeds will reportedly go to his charitable foundation, Saisei Foundation, which funds research for treatments related to psychedelics, life extension and mental health.

Zora and Rainbow team up. The leading NFT marketplace and Ethereum wallet company created a one-of-a-kind Rainbow wallet app icon unlocked by a special edition NFT and brought two communities together to create one of the?most active NFT collections on all of ETH.

Decentraland announces Metaverse Fashion Week 2023.?It’s official! The user-owned social world announced on Dec. 8 that Fashion Week will be returning to Decentraland on March 28-31, 2023.???

Gifting crypto for the holidays??Bankless released its 2023 Holiday Crypto Gift Guide for both crypto novices and vets.

From Our Founding BFFs

Landit founder and CEO Lisa Skeete Tatum?spoke to CNBC about navigating C-suite leadership as a woman of color in the workplace.

Web3 Entrepreneur Shira Lazar?spoke to CoinDesk about how Web3 is creating a new paradigm for women and minorities.

We ?? Our Community???

Along with our founders,?BFF holder and?Epic Play Date?founder Rebecca Orlov?made the list of?Unstoppable Domain’s 115 most inspirational women in Web3. Rebecca is an OG bracelet holder and has every charm!

From?Rebecca:

??This is just a small slice of women creating, building, learning and pursuing web3 experiences. My ??are on #brand3 via Epic Play Date, #parent3 (@WeAreGenAlpha & @WeAreMetaMamas) and #WomenSupportingWomen.

Catch Rebecca on Twitter at?@RebeccaOrlov.

BFF Events

Thanks for reading! We’d love to hear from you. Feel free to let us know what you think of this newsletter and what you’d like to see from it in the future by replying directly.??

?? This newsletter and all the information in it does not constitute financial advice. If you don’t want to invest money or time in Web3, you don’t have to. As always: Do your own research.