Sup, nerds!

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

• 💅 This is cool: Dog coins may be about to pump…

• 🔎 This seems important: Solana ETF coming soon?

• 🤝 Partner: The first AI-powered startup unlocking the “billionaire economy” for your benefit​

• 🔪 Let's dissect this: The latest interesting experiment in web3

• 💡 Bellwethers in Web3: Noah Pravacek, Node Kit

Terms used in this edition (click for an explanation, or ask Web(GPT)3!):
Degens, memecoins, DAO, NFT.

💅 This is cool:

Dog Coins May Be About to Pump…

In one sentence: @TheRoaringKitty posted a picture of a cartoon dog on X, which means there’s a solid chance a bunch of degens are going to take it as a sign to start buying dog-related crypto assets.

You know it.

We know it.

If @TheRoaringKitty posts something on X, degens are going to read into it like your kooky aunt Suze reads her tea leaves.

Difference between most degens and aunt Suze?

1. Degens can’t pull off grey hair with a purple streak, Suze can and does.

2. Degens take massive trades off the back of the tea leaves they read online (at most, Suze will use them to inform her lottery numbers).

So when Roaring Kitty posts a picture of a cartoon dog on X, there’s a solid chance that a bunch of degenerates are going to take it as a sign to start buying dog-related memecoins.

It might not happen. But the stage is well set:

• Crypto markets are rebounding

• Crypto Twitter is in search of a narrative to ape in to

• Solana (the home of memecoins) got its first US ETF application

Let’s see what unfolds this weekend.

🥇 Want the news before anyone else?

🔎 This seems important:

VanEck Just Applied to Launch a Solana ETF

In one sentence: SOL jumped damn near 10% in an hour after VanEck applied for a SOL ETF yesterday (it’s probably going to be a drawn out process, but it’s a good first step!)

Solana ETF coming soon? Probably not.

But the market doesn’t care!

SOL jumped damn near 10% in an hour after VanEck applied for a SOL ETF yesterday.

Now, here’s why we’re being party poopers re: approval timeline…

The road to approval is probably going to be a long and arduous one, because the process of launching a spot SOL exchange traded fund (ETF) — where the purchase of shares goes towards buying Solana, allowing investors to buy crypto via the stock market — is slow.

We outlined it in depth here, but here’s a quick recap:

1. A SOL futures ETF typically needs to be launched first (allowing investors to bet on the future price of Solana, without actually buying it)

2. The SEC will want to see a year or more of trading take place there, to make sure its free of manipulation.

3. Then the ETF approval can take place.

Now, here’s why that doesn’t matter to traders right now:

A few months back, most people expected the SEC to do their darnedest to ban the sale of SOL in the US (they still have a lawsuit out against Coinbase for selling Solana).

So the idea that VanEck is willing to file for a Solana ETF, and potentially fight the SEC in court to get it approved represents a massive mood change, and gives the market a new narrative to buy in to.

It’s probably going to be a drawn out process, but it’s a good first step!

🤝 Partner:

The First Ai-Powered Startup Unlocking the “Billionaire Economy” for Your Benefit

It’s one of the oldest markets in the world, but until recently, the average person would never dream of investing in it. Until a Harvard data scientist and his team cracked the code with a system to identify “excess alpha.”

The best part? Everyday people are already benefiting.

The company that makes it all possible is called Masterworks, whose unique investment platform enables savvy investors to invest in blue-chip art for a fraction of the cost. Their proprietary database of art market returns provides an unrivaled quantitative edge in analyzing investment opportunities.

So far, it's been right on the money. Every one of their 16 exits has been profitable, with recent exits delivering +17.8%, +21.5%, and +35.0% net annualized returns*.

Intrigued? Web3 Daily readers can skip the waitlist with this exclusive referral link.

_{*Past performance is not indicative of future returns, investing involves risk. See disclosures masterworks.com/cd.}

🔪 Let's dissect this:

The Latest Interesting Experiment in Web3

In one sentence: The Yuri Group has created NFTs and a DAO to be able to raise money, and allow the aging community of Yamakoshi Village in Japan to vote on the things that matter most to them.

Japan has an aging population.

“That has literally nothing to do with crypto.” - you, probably.

Bup bup bup, but it does!

All thanks to the Neo-Yamakoshi Village project which is aimed at supporting and sustaining Yamakoshi’s aging population through the sale of NFTs.

Here’s how it works:

The Yuri Group has created both NFTs and a DAO to be able to raise money, and allow the community to vote on the things that matter most to them.

So far, the project has raised over $423,000 through Nishikigoi NFT sales since its launch in 2021.

The idea being, if it can attract enough ‘digital citizens,’ and the people who live in Yamakoshi can have an easy and direct way to vote based on what matters most to them and their lives, the Yuri Group can create a blueprint to be rolled out to other aging populations across the globe.

While the program has been a success so far, there has been some adoption issues…

For example, it’s been hard to get older residents to both understand the technology and its benefits, and to actually use it to vote (even if it is designed to benefit them).

Most projects like this don’t get it right straight out of the gate. It’s an iterative process.

But the cool thing is, if the team behind this can figure out a great user experience, and can figure out how to communicate the benefits for the older population which they’re targeting, these learnings could easily be adapted to other largely untapped user groups.

Early days, but we’re giving this 10 solid points for effort.

Education in this space is tough - trust us, we know.

💡 Bellwethers in Web3

"Bellwether's in Web3," is a daily profile series recorded live with Nolcha Shows and Movement Labs in collaboration with Bellwether Culture. Check out the latest video below.

Interview: Noah Pravacek, CEO & Co-Founder Node Kit

@noah_pravecek (Twitter), @nodekitorg (Twitter)