📔 Weekly Journal: Forbes goes Web3
[6 min read] Your guide to getting ahead on the digital frontier (& the weekend!). Today, the usual market news as well as how to get 6 months of FREE Forbes Premium content (value of $49.99/year)
Welcome to this week’s Weekly Journal 📔, your guide to the latest news & innovation in emerging technology, digital assets, and our exciting path to the Metaverse. This is week 70 of the 520 weeks of newsletters I have committed to, a decade of documenting our physical and digital lives converge.
New subscribers are encouraged to check out the history & purpose of this newsletter as well as the archive.
Enjoy your weekend! 😎
- Ryan
Digital Assets Market Update
🔥🗺️ 7-day heatmap below, which shows the current share of market for the top cryptocurrencies, alongside total marketcap (USD) and the change in price over the last week.
🎭 Crypto Fear and Greed Index is based on volatility, social media sentiments, surveys, market momentum, and a few other bits and pieces.
Interesting news from this week🗞️
Follow this link to create a free digital wallet (via Magic) to get a free Forbes Web3 Membership. Awesome to see mainstream adoption in action!
The NZ stock exchange regulator, NZRegCo, is cautioning investors about trading shares of Being AI (BAI) due to a sharp increase in its share price since its recent listing. BAI entered the market through a reverse listing using Ascension Capital (ACE). Initially valued at 2.5 pence per share, BAI's price soared to 7.8 pence before settling at 5.5 pence. This warning aims to stabilise share prices. BAI, valued at around £45 million, operates in AI consultancy, research and development, and venture investment. Choosing a reverse listing simplified the process for BAI and provided access to capital markets while seeking credibility.
Coinbase, a major US crypto exchange, is integrating the Bitcoin Lightning network to speed up transactions, fulfilling promises from its CEO. They've partnered with Lightspark, a provider of lightning network-based payment infrastructure, to simplify the process. This collaboration means faster and cheaper Bitcoin transactions for users. It's a significant step for Bitcoin adoption, as it addresses scalability issues and makes transactions more efficient. By embracing Lightning, Coinbase aims to keep up with industry trends and provide better services to its customers. This move also signals growing acceptance and use of Bitcoin's advanced features in mainstream financial platforms.
Speaking of the Lightning Network, a reminder to register for the Beta test of Lightning Pay NZ, be one of the first to try the future of payments!
👓Read of the Week
This week I enjoyed an article by Andrew Fenton “Bittensor vs Eric Wall, AI didn’t kill the metaverse, it will build it says Alien Worlds: AI Eye”
The article makes the case that the metaverse hasn't been killed by AI; rather, it's being built by it. Through generative AI, users can actively contribute to crafting virtual worlds, facilitated by blockchain and NFTs. AI empowers non-artists and non-developers to participate in world-building, transcending traditional barriers. While initially conceptual, projects like Alien Worlds showcase concrete steps towards realising this vision. AI aids in generating lore, imagery, and even storylines, fostering a collaborative environment akin to a user-built Marvel Cinematic Universe. Despite current limitations, the trajectory is clear: AI will play a pivotal role in shaping the metaverse's evolution. As Kevin Rose of Dacoco emphasises, AI tools are instrumental in democratising content creation, heralding the dawn of a new era in virtual exploration and creativity.
What I am sure of is that the fusion of AI, blockchain, and user engagement promises a vibrant, immersive metaverse where imagination knows no bounds.
🎥 Watch of the week
Shout out to Kiwi unicorn Futureverse! The "Readyverse Vision" project was unveiled a couple of months ago. Rooted in the ethos of community over corporations and personal digital ownership, it embodies the ideals of the open metaverse. Inspired by Cline's "Ready Player One," the project aims to revolutionise digital experiences. It promises inclusivity, creativity, and user empowerment, challenging the dominance of big tech. With innovative protocols and partnerships, they envision a future where users shape their digital identities and experiences. This ambitious endeavour marks the beginning of a transformative journey into a new era of digital connectivity and storytelling.
AI 🎨🤖🎵✍🏼
Microsoft has come out with a warning that China plans to disrupt elections in the US, South Korea, and India using AI-generated content. They tested this strategy during Taiwan's presidential poll, targeting a pro-sovereignty candidate. Microsoft expects Chinese state-backed cyber groups, possibly with North Korean involvement, to target high-profile elections in 2024. The tech firm anticipates the distribution of AI-generated content through social media to benefit China's positions in these elections. While the current impact of such content is low, China's increasing experimentation with augmenting memes, videos, and audio could prove effective in the future, according to Microsoft's threat intelligence team report.
There will need to be a scramble to look for ways to “prove” the validity of news and media we consume. My position that cryptographic “signing” of content via the blockchain will be part of this solution, but time will tell.
That’s all for the free version this week! If you have any organisations in mind that could benefit from learning about emerging technology, be sure to reach out. Educational workshops are one of many consulting services I offer.
DCA With Me 🤑
Dollar Cost Averaging is an investment strategy in which an investor regularly invests a fixed amount of money into a particular asset/asset class at regular intervals, regardless of its current market cycle. By doing so, the investor can reduce the impact of market volatility and potentially earn a better return over time. Motto = time IN the market beats trying to time the market
To experiment with this, I invest $50 NZD into a Digital Asset every week. Each week I will choose an asset that seems underpriced in the short term and has positive long-term potential. My timeframe is 3-5 years. I don’t give financial advice but if you want to follow along with me you can use my easycrypto.co.nz referral link to support this newsletter. Let’s dive into this week’s pick:
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