Week 13 of Coffee with Captain had a little bit of everything. NFT NYC is gearing up, so we had team members from Forbes Web3 and Nolcha Shows join for interviews. Blast and Base have been heating up. We discuss what may have been the spark and how Blast experienced a $62 million hack! Policy change in digital advertising and in the United States is likely on its way. The Bitcoin ETF and SEC’s filing against coinbase is making sure of that. We also talk about NFT loans and Sam Bankman-Fried. I told you it’s a little bit of everything.
In case you missed any of the shows, below is a small recap of each day with links to the podcast on Apple and Spotify. Links to other streaming platforms can be found on our buzzsprout page. Check out the timestamp if you want to catch the specific interviews.
Monday
Will Digital Advertising Allow for Crypto-Related Ads?
The introduction of the Bitcoin ETF is shifting the perception of crypto and its use case. What will this mean for digital advertising policies? Previously, NFTs weren’t allowed to be advertised on Google, but we saw that shift in 2023. Social media platforms, like Facebook and Instagram, are likely to see policy changes for digital advertising crypto-related content as ETF cash flow increases.
Attention in the web3 space is being fractured across a variety of protocols (Blast, Base, Solana, etc.), but the future is likely omni-chain. What will attract retail to the space? The world revolves around memes, so it’s possible that memecoin culture attracts the average person to dip their toes into web3 (ex: Doge, Shib, Wif, etc.). Think of platforms such as Bonkbot on telegram? It’s an easy application that can be a starting point for users. Others may enter through centralized exchanges (CEXs) that list memecoins. The reality is retail will enter down the road as their favorite content creators start to mention crypto again. That’s what we should keep our eye on.
Check this episode out on Apple and Spotify.
Tuesday
Layer 2 Blockchains Are Heating Up
The congestion on a layer 1 blockchain like Ethereum has always brought scalability issues into question. The idea of a layer 2 blockchain is to take some of the load off the main network. Blast and Base are two of the most popular layer 2 blockchains right now. Base, powered by Coinbase, makes it easy to build decentralized apps (dApps) with access to Coinbase’s products, users and tools. Blast, by Pacman (Tieshun Roquerre), incentivizes users with future rewards.
User rewards are great for early adopters, but how will the networks retain users? The best way to retain users long-term is to organically have content creators support specific chains. Rewards through loyalty is another opportunity to gain and keep market share. The worst thing for companies to do is get complacent (**cough, cough** OpenSea). Personally, I’m not a single chain maxi and believe interoperability will be the future. I think dabbling in multiple chains is the best approach.
Check this episode out on Apple and Spotify.
Wednesday
Blast $62m Returned + Forbes Web3 Parties
In less than 24 hours, the Blast network witnessed $62 million hacked and returned. It sparked a larger question about decentralization. Blast had the ability to rollback the funds, but the hot debate was if they should.
Later, the Coffee Crew is joined by the Forbes Web3 team. Special guests Katz and Mani give us a rundown of the company, birthed from Forbes, and prepare us for their anticipated NFT NYC events. Forbes Web3 understands web3 is built on people and the culture. Gaining an understanding of both is necessary for success long-term.
Check this episode out on Apple and Spotify.
Thursday
SEC vs Coinbase + NFT Loans
The battle of the SEC vs Coinbase will continue as the judge refused to dismiss the case. On a positive note, this means the United States will finally get clarity around staking. Fidelity filed for an Ethereum ETF, which included staking. Their assumption is future clarity will be established and the Ethereum ETF will eventually pass. I hope so too.
Steve decided to get into NFT lending and he gives us a rundown of his experience. The Coffee Crew helps break down some of the best approaches to NFT loans. Web3 is a tool and there are a lot of options that contain the appropriate guard rails. Don’t be afraid of NFT loans, but use general risk management practices. Crypto is a risky asset in general, but using tools responsibly can drastically decrease the risk.
Check this episode out on Apple and Spotify.
Friday
Sam Bankman-Fried to Jail + Nolcha Shows Interview
Sam Bankman-Fried, founder of FTX, received a sentence of 25 years for his part in the collapse of FTX. This black swan event resulted in billions of dollars in user funds being lost, though there is potential for them to be recovered. Is 25 years too long, short or just right?
Later, the Coffee Crew is joined by the Nolcha Shows team. This company made the pivot web3 after COVID forced their hand. Nolcha built a platform where artists, founders and creatives can all come together for conversation without screaming over loud music. Events like these are massive networking opportunities and a chance to grow your circle. Web3 has the amazing ability to connect people worldwide, but nothing can replace face to face. Also, Nolcha had web2 ties to St Jude’s 12 years ago. Once again Nolcha is partnering with St Jude’s to bring patient’s art into web3. Be sure to check them out.
Check this episode out on Apple and Spotify.
Wrap Up
Another solid week of Coffee with Captain in the books. Wednesday of next week starts NFT NYC and we’ll be giving you a little preview. This also means a couple shorter shows as Cap and Steve lean into IRL connections. I hope you’ve been exploring different blockchains and keeping up with the macro news. We’ll be here every week giving you the latest. Make sure to review week 12 here if you missed anything.
Be sure to check out:
- The Everything Token: A Book on Web3 and NFTs
- Making Coffee: Our Official Coffee Partner
