The "Future" New Internet

Go-to-Market in Web, Blockchain <> AI, Forbes on NFTs, 100ETH EtherRock... more

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Forefront
November 13, 2023

Happy Monday!

Welcome to edition 166th edition of the Forefront Newsletter. If you’re new here, we give you a weekly roundup of the best news and insights at the intersection of crypto, culture, and community.

This week we’re covering:

Let’s get into it…

What’s Poppin’

Bryan Lehrer's article offers a high-level overview of the evolving landscape of the internet, marked by a shift towards decentralization and user empowerment. He delves into the rise of blockchain and decentralized finance (DeFi) as catalysts for this change. A key highlight is his discussion on platforms like Are.na, which exemplify this new model of user-centric design and ownership. Lehrer contrasts traditional, centralized models of the internet with these emerging decentralized ones, showing how they offer enhanced privacy, security, and user control. His article serves as a compelling exploration of how these new models are not just theoretical but are being actively built and used, paving the way for a more participatory and equitable digital future.

In Danny Sursock's compelling article, he illuminates the synergistic potential of Artificial Intelligence and blockchain, likening this union to significant technological milestones like the advent of the internet. Sursock argues that this convergence challenges the dominance of big tech firms in AI, fostering a more open and democratized landscape for innovation. This shift signifies a future where technology becomes more inclusive, user-oriented, and innovative, marking a pivotal step towards a more equitable and creatively rich digital ecosystem.

This piece by Maggie Hsu provides a thoughtful look at how market strategies are adapting in the emerging Web3 landscape. Moving away from the centralized, sales-driven approaches of Web2 giants like Amazon and Facebook, Web3 introduces a more decentralized, inclusive model. Here, tokens and community involvement play a crucial role, shifting the focus from mere customer acquisition to engaging a broader ecosystem of users, developers, and investors. This approach redefines the traditional market entry strategies, emphasizing the importance of community and shared participation in the digital arena. It's a nuanced shift, reflecting the evolving nature of how we interact with and contribute to digital platforms.

This Forbes article presents a nuanced view of the NFT market. Despite a peak of $21 billion in May 2022 and a subsequent crash, the market remains robust at $10 billion. This resilience is attributed to 5% of NFTs retaining their value, with the top ten artist collections holding 73% of their value year-over-year. The article compares this to the volatility of the modern art market, highlighting similarities in market fluctuations. It also notes the growing integration of NFTs in the art industry, evidenced by high-profile sales and the inclusion of NFTs in prestigious museum collections. The article suggests the NFT market is stabilizing and following a path similar to other emerging markets, where quality projects endure and gain mainstream interest.

"Love vs. Fame: A Framework for Social Applications" from Li's Newsletter offers a fresh perspective on the landscape of social apps, categorizing them based on their focus on either deepening personal connections ('love') or enabling widespread recognition ('fame'). This insightful analysis delves into how platforms like WhatsApp prioritize intimate interactions, whereas Instagram leans towards broader audience reach. The piece skillfully unravels the underlying business models and highlights the dynamic nature of social media, where the balance between personal connection and public recognition is in a constant state of flux.

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Inbox Signal TL;DR

The 14th edition of Inbox Signal went out to Forefront Members. Here's a taste of the stories:

Forefront Members get full access to Signal – our daily curated feed on consumer and creator crypto – every day. You can become a Forefront Member by minting a 2023 Annual Pass here.

Fun with Fundraising

  • Stackr – An AI tool to optimize Solidity smart contracts and reduce gas inefficiencies in Ethereum raise $3m in seed round.

  • Ritual – AI infrastructure startup Ritual raised $25m to address the centralized nature of the AI revolution.

Take Check