Sup, nerds!

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

• 💅 This is cool: The end of banks

• 🔎 This seems important: The good news sandwich

• 🤝 Partner: $47 million in artwork sales equals profits for these everyday investors​

• 🔪 Let's dissect this: What the hell are ‘culture coins’?

Terms used in this edition (click for an explanation, or ask Web(GPT)3!):
Decentralized Exchanges, Self Custody Wallet, Decentralized, Memecoins, Layer 2’s.

💅 This is cool:

The End of Banks

In one sentence: 1inch is making a decentralized debit card, which will allow users to store their wealth on a self custody wallet, while still making everyday payments in fiat cash.

You know that Smokey Bear tagline?

The one where he puts the onus of preventing devastating local ecological disasters on your shoulders:

“Only you can prevent wildfires.”

(“Oh really, Smokey? So I control lighting, high-winds, and a series of decades long droughts that have turned the local landscape into a tinder box?”)

Aaanyways…

Our featured headline today is similar to that — in that, yeah:

We can now see a way for everyday people to largely abandon the traditional banking system (without having to move into the woods and become a hermit).

But for today’s headline ‘The End of Banks’ to actually be realized, would take massive and widespread action from billions of individuals — and for us to put that on your shoulders…is a bit much (and we want to acknowledge that).

Ok, now — here’s what spurred this all:

The 1inch Network aggregates a bunch of different decentralized exchanges (DEXs) — making it a crypto mecca where you can buy/sell/trade crypto, without any middle men.

Problem is (like with most things crypto), the 1inch Network exists outside the established monetary system — sure, you can buy and hold crypto using its DEX connections…

But using that money in your everyday life? Good luck!

Here’s how that’s about to change: 1inch is partnering with Baanx and Mastercard to create a decentralized debit card.

So users can now keep their savings & investments in stablecoins & crypto, and store it on a private self custody wallet — all while still making everyday payments in fiat cash, via their decentralized debit card.

(Awesome, right?)

Now, is ‘going full crypto’ going to play nice with your credit score?
Doubt it.

Are most people still going to need a bank account to collect their salary?
Most probably.

It’s still an imperfect system, but the big change is this:

Those who want to ‘go full crypto’ can pull the escape hatch without banks needing to play a crucial role in the everyday payments process.

(Where previously, you’d still have to sell your crypto on a centralized exchange and transfer it to a bank account, every time you bought something).

One small step for crypto, one giant leap for the broader ecosystem.

🥇 Want the news before anyone else?

🔎 This seems important:

The Good News Sandwich (Two Pieces of Good News, Sandwiching One Piece of Bad News)

In one sentence: Crypto funds have seen record inflows of $13.8B in ‘24, crypto markets tend to struggle at this time of year, and BTC just regained $72k (pulling the market up w/ it).

You hungry?

Good. We’ve cooked up a good news sandwich for you.

Which means we have two pieces of good news (the bread), and one piece of bad news (the filling).

And before you scroll away in attempt to avoid the doom and gloom, don’t worry! As far as ‘bad news’ goes, it’s pretty vanilla.

Good news: crypto investment products (aka crypto investment funds) have seen record inflows of $13.8B so far this year.

Bad news: On April 20th, the Bitcoin halving will take place (which typically leads to appreciation in crypto prices).

But the timing is off — the coming months are typically slow periods for crypto markets, which means without fresh narratives to inspire buying, prices may struggle to take off immediately.

(Patience is a virtue).

Good news: After Bitcoin started the month on unstable ground, it regained the $72k mark early yesterday morning.

(Pulling the rest of the crypto market up with it!)

Feeling nourished?

Good :)

🤝 Partner:

$47 Million in Artwork Sales Equals Profits for These Everyday Investors

Masterworks is taking on the billionaires at their own game, buying up paintings by world-class artists like Banksy and Picasso, and securitizing them for its investors.

When Masterworks sells a painting – like the 16 it's already sold – investors reap their portion of the net proceeds. Its investors have already received proceeds from more than $47 million in sales, realizing annualized net returns of 17.8%, 21.5%, 35% and more*.

Now, Masterworks wants to do the same thing for you. By qualifying every offering with the SEC, Masterworks makes it easy for everyday people to invest in multi-million dollar paintings. Offerings can sell out in just minutes, but as a trusted partner, Web3 Daily readers can skip the waitlist to join here.

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

🔪 Let's dissect this:

You’re Familiar With Meme Coins…But Have You Heard of ‘Culture Coins’?

In one sentence: ‘Culture coins’ are a new sub-genre of meme coins, which have outperformed Ethereum Layer 2’s by 33x, and Real World Asset projects by 4.6x!

Turns out memecoins have gotten so popular that they now have their own sub-genres…

(Some of which are VC endorsed — which is something we never thought we’d say with a straight face).

Here’s the gist of what’s happening: 

Have you ever said a slang word ironically, like YOLO. 

…then, a few weeks later, you’re still using it but all the irony has run bare and it’s just something you say now?

Memecoins are following a similar trajectory.

They started out as jokes centered around funny animals (mostly dogs) on Twitter/X, but now the broader crypto space is seeing a weirdly consistent amount of gains from memecoins.

And with that has come a rebrand (of sorts), for a particular sub section of memecoins which VC analysts are now calling ‘culture coins.’

These are coins that form particular kinds of communities around them — usually focused on politics, religion, consumer goods, sports, etc…

And (apparently) these ‘culture coins’ have outperformed Ethereum Layer 2’s by 33x, and Real World Asset projects by 4.6x!

File this one under ‘proof that we’re definitely living in a simulation.’

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The Popularity of Meme Coins, Explained