Sup, nerds!

Here’s what you’re getting in today’s edition:

• 💅 This is cool: MetaMask x Robinhood = a better Web3 experience

• 🔎 This seems important: Crypto investors lost BIG in '23

• 🤝 Partner: Stay up-to-date with AI.​

• 🔪 Let's dissect this: What the heck are Ethereum data ‘blobs’??

Terms used in this edition (click for an explanation, or ​ask Web(GPT)3!​):
Self Custody, Wallet, Web3, Blockchain.

💅 This is cool:

MetaMask x Robinhood = a Better Web3 Experience

In one sentence: MetaMask users will soon be able to buy ETH tokens in-app via Robinhood, while Robinhood users will be able to send ETH tokens to MetaMask.

We’re calling it! 2024 is “the year of the legacy integration” for crypto.

Wait, no. That doesn’t have quite the right ring to it, try:

“The year of the old dogs adopting new technology.” (Better, but not perfect).

So far we’ve had:

• The launch of the first US spot Bitcoin ETF, creating an easy and familiar way for old school asset managers to buy BTC…

• The announcement of the GoDaddy x Ethereum Name Service partnership, allowing folks to receive crypto to a .com web address.

And today we got wind of a new partnership between Robinhood (‘The Home of the Retail Investor’), and MetaMask (‘The Most Popular Self Custody Wallet in Web3’).

MetaMask users will soon be able to purchase Ethereum based tokens from Robinhood — all from within the MetaMask app. On the flip side, Robinhood users can now transfer their crypto assets to MetaMask.

The benefits here are two fold:

1. Not having to first buy crypto on an exchange, then send it to your MetaMask wallet for safe storage? This will make the Web3 experience that much smoother.

2. If you’re a Robinhood customer, having an ‘off ramp’ is important!
   
   E.g. when Robinhood banned Polygon (MATIC) from its platform last year, users needed to send their MATIC to a new wallet/exchange, or have it forcibly sold (yikes!)

Here’s the math on why this will lead to a better Web3 experience:

More integrations = more options = more competition = better products for end users.

We love to see it!

🥇 Want the news before anyone else?

🔎 This seems important:

Ooft! Crypto Investors Lost BIG in 2023...

In one sentence: According to CoinLedger, the average crypto investor made less than $1k in realized gains last year (though, our guess is it’s cause folks were buying/holding).

That headline ☝️?

That was our reaction when we read this piece of news:

According to CoinLedger (the crypto tax software platform), the average crypto investor made less than $1k in realized gains last year.

Which made no sense, because the crypto market only climbed throughout 2023.

…but then we thought about it from a personal perspective — and something clicked.

We didn’t make ANY realized gains from crypto last year!

You have to sell your crypto to ‘realize’ a gain — and we spent the whole year buying.

So if you see this story being thrown around anywhere outside of this newsletter (e.g. your uncle Barry uses it as fodder in the family group chat “See, I told you this stuff was worthless!”) just remember:

2023 was a year of accumulation, and Barry (while lovable) is an idiot.

(As you’ve always known/celebrated him to be ❤️).

🤝 Partner:

🔪 Let's dissect this:

What the Heck Are Ethereum Data ‘Blobs’??

In one sentence: Ethereum’s ‘Dencun’ upgrade is being tested, which will introduce ‘blobs’ — a new (cheaper) method of storing data on Ethereum.

Today we have two points to make. 

And two points only.

Up first: The good people of the crypto media space seem to be forgetting that we’re supposed to be onboarding people, NOT scaring them away. 

LOOK AT HOW MUCH MUMBO JUMBO IS IN THIS HEADLINE:

“Ethereum's Dencun Upgrade Reaches Final ‘Holesky’ Testnet, Starting Countdown to Data 'Blobs'”

Genuinely asking: What the HELL does that even mean?!

(We’re glad we asked).

Here is point #2: what all of that means ☝️

The ‘Holesky’ testnet is a blockchain made for test simulations, where new features can be active without yet being public (kinda like those beta iOS updates that tech nerds get to their iPhones before everyone else).

Blockchain upgrades ‘go to testnet,’ to make sure there are no bugs and all the features are working as advertised.

The upgrade they were testing in this case? 

Ethereum’s ‘Dencun’ upgrade – which will introduce ‘blobs’ (?)

Which is just a silly name for a new (cheaper) method of storing data on Ethereum.

Noice.

How Ethereum Transactions Work