In this issue – Merged, Doodled, Moma-ed, and Raised…. and much more
Welcome to the 41st edition of the SHINY digest, a weekly newsletter where we share updates on the Shiny DAO, highlights and meaningful discussions from the Shiny Discord, and recaps from the live-events.
You can also listen to this digest, via our audio version –
Reminder: the Shiny Retreat page is LIVE
- The merge has finally happened (WAGMI) and contrary to a lot of online speculation, it was actually a letdown, since nothing really happened (which is also a very good thing for all of our bags and means that the ETH devs are actually doing something)! However, the biggest benefit is that you can now tell all your friends and enemies that buying a crypto dick-butt nft now consumes less energy than watching the newest Game of Thrones episode.
- Doodles have finalized their raise led by Alexis Ohanian. In total, they announced a raise of $54M at a $704M valuation. The Doodles team has been criticized for the past month for not having made a single tweet in the month of August, but this is a pretty good way to come back to the limelight.
- MoMA has announced that they will be selling $70M in art to fund the museum’s push into digital, which is huge news for the space.
- With the Doodles raise, Xen0ph0n.eth believes that the brand will do really well, but is concerned (and rightfully so), that the value is going to flow back to VCs and the company instead of the holders.
@skinnybertt agrees and says that it seems like this will be the case for the whole space because there’s no way to reward holders outside of merch/airdrops (since promising any form of $$$ would be considered a security).
I believe this tweet summarizes the concern pretty well: “when an NFT “community” raises capital, you are the product. The nine and ten figure valuations are a function of monetizing your attention and your energy.”
But as Chris Cantino mentioned, maybe the best projects will be those who are able to balance both collector and investor returns.
Readings & Resources
- @Practical Principles just published a new essay all about the changing paradigms of work and management.
- @AwisemaninNotion shared a thread on the current DAO landscape.
- @Dwayne “The Jock” Ronson shared an article on how to measure community health in DAOs.
- @AwisemaninNotion also shared a good overview of the “Web3 Developer Stack” produced by a16z.
- Each week we highlight our members. For example, @bramk launched phase 2 of the EARLY ONES beta today!
- We also want to highlight you! In our Discord, make sure to tag @localtourist and @ahs with updates worth sharing.
Work in Web3
Jobs? We got jobs. LocalTourist curates the best opportunities each week. Find all the job opportunities here.
Enter your email in the form below if you’d like to get the Shiny Digest in your inbox every week.