FUD FAQ | A Weekly Community Thread | Week 34
FUD FAQ | A Weekly Community Thread | Week 34
Top Question of the Week
• Why are designer realms and web3 patrons a really big deal?
Decentralisation isn’t merely a buzzword to shill celebrity NFTs for a quick buck and subsequent collapse in floor price. Becoming your own highly sought after fashion brand with lasting gains in reputation, a culturally aligned and hyper loyal community base, and long term capital is only possible with a full embrace of web3 principles and practices.
And, for any designer in web3, undertaking this solo is not only incredibly daunting, but it is highly resource intensive and often not instantly tangible.
With realms, this completely changes.
Now any web3 fashion designer can launch directly to the market and forge your own unique way, with the support and breathing room to build out your brand with your own personal mark.
You no longer have to rely on just selling NFTs on someone else’s marketplace to elevate your work to a point where you can compete against giants in the open market.
Each realm is also equipped with a special multi-tiered NFT access mechanism and Web3 Patron model. These specialty realm NFTs can be bought by patrons to directly select which designers, labels and realms they want to champion — completely resolving the age old cold start problem. In fashion, that’s never been possible before.
Each realm grows both as much as their own strengths take them and in coordination with the strengths of their fellow realms.
And, the best part, is that all of this is achieved in a way that is entirely web3 native with decentralisation at its multi-layered core.
Most Common Repeat Question
• When will there be more details shared on the new $MONA, $W3F and native designer realm ERC-20 distributions?
The rewards schedule for both the $MONA mint and $W3F launch will be shared this coming week in full detail as we get set to go live with the new staking and rewards distribution contracts shortly after the current $MONA rewards end (Dec 2nd, 2021).
As for the native designer realm ERC-20 distributions, you’ll be hearing a lot more about this over the coming weeks as each designer builds out their broader community, ecosystem and presence in the web3 market. Also, there will be more exciting details shared with the upcoming launch of the web3 patrons platform.
Top Controversies in the Industry
There has been (& still it’s ongoing) a lot of shit posting and back and forth between some long time members of the Ethereum and web3 community on #CT about Ethereum’s scalability, and its commitment and efforts to this.
At the end of the day, is a blockchain really a blockchain if it is not decentralised?
In short, no. Definitely not.
If that is not the priority of every individual, team, squad or DAO building and creating in this space then not only are they completely missing the point of what web3 is, stands for and enables, but, we are just perpetuating the old centralised systems that got us to this point in the first place.
Decentralisation isn’t merely a buzzword or #CT meme. It actually matters.
And, the punch line comes when you realise that these non EVM loosely defined “blockchains” aren’t actually the scalable solutions that they ShIlLeD s0 hARd t0 BE aFteR A1L. 🤦♀️🤦🤦♂️
Low fee claims mean nothing when the network is under utilised. Come back when there is high volume and real user activity without the compromisation of decentralisation.
Silly Fails and Trolling
If you’ve been paying attention this week you’ve also probably tuned in to, and been quite entertained by, the epic showdown between crypto art collector and creator, Vincent Van Dough, and the dev and instigator behind “ The NFT Bay ” (Geoffrey Huntley), a derivate site of The Pirate Bay, that allows anyone to “right click— save as” NFTs on the Ethereum Blockchain.
Long story short, there was a lot of back and forth with speculation by naysayers that this project would drive the entire value of NFTs and Ethereum to zero, Vincent Van Dough held an NFT auction of a screenshot of the site and it sold for nearly $20K, Huntley then ran an NFT auction on VVD’s sold screenshot piece titled “The collector becomes the collected” and also asked for donations to keep the bay site running, VVD then offered to pay for the yearly hosting, Huntley gave his ETH address … and in a complete twist of events… it turns out he’s been collecting Dapper Dino NFTs for weeks!
Yeah, it was a pretty well executed troll on the NFT/web3 trollers. 😆👻
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