Sup, nerds!

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

• 💅 This is cool: This crypto profits from your fear

• 🔎 This seems important: Ethereum Is Back, Baby!

• 🤝 Partner: Unlock your startup's potential with Raze 🚀​

• 🔪 Let's dissect this: Crypto’s infinite money glitch just got patched

Terms used in this edition (click for an explanation, or ​ask Web(GPT)3!​):
NFTs

💅 This is cool:

This Crypto Profits From Your Fear

In one sentence: $WLD, the crypto designed to digitally prove a person’s humanity, has grown ~$600M since OpenAI announced its (scarily accurate) text-to-video generator.

We know, we know — weird headline to put under ‘💅 This is cool.‘

But (for now) we don’t have a ‘💀 This is dystopian‘ section, so stories like this are going to have to live here in the meantime…

ICYMI last week: OpenAI created Sora, “the ChatGPT of video” (text goes in → video comes out).

And turns out, the mix of excitement and fear it drummed up online was not only palpable, but profitable.

Here’s how:

Remember Worldcoin?

It’s the cryptocurrency designed to weed out bots and prove a person’s humanity online, by requiring a one-time iris scan from a sci-fi lookin’ orb.

(No, seriously 👇).

Well — because of this dystopian onboarding process, much of the crypto community has rejected Worldcoin.

That was; up until now…

It appears investors’ fears of sharing their biological data with Worldcoin is far outweighed by that of Sora’s text-to-video functionality (and its capacity for digital imitation).

As a result, WLD’s market cap has grown ~$600M, briefly cracking the $1B mark — all in the past week since Sora was announced.

What’s spookier?

Both the problem (Sora) and the solution (Worldcoin) are being developed by the same dude.

Yikes!

🥇 Want the news before anyone else?

🔎 This seems important:

Ethereum Is Back, Baby!

In one sentence: ETH is finally moving (+11.46% in the past week), and should gain further momentum from the ETF narrative and increased fee burning.

You know the saying “comparison is the thief of joy”?

If you’re an Ethereum holder — that saying might hit a little too close to home.

Bitcoin has been pumping, while Solana has been on an absolute tear…and sure, it’s not like ETH has been doing poorly…

It just hasn’t been doing as great by comparison.

Well, that ends today. Thanks to these three factors:

• Near term — ETH is on a run! It’s up 11.46% in the past 7 days (compared to BTC’s +4.30% and SOL’s +1.87%).
   

• Medium term — A decision will be made on a potential Ethereum ETF on May 23rd. Whether we see an approval or denial, the narrative will likely lift prices in the lead up to the announcement.
   

• Long term — The Ethereum 2.0 update (aka ‘The Merge’) brought about fee burning (i.e. for every transaction that is made, a little bit of ETH is destroyed).
  
  Which means the more ETH that’s traded, the scarcer it becomes.
  
  So far, Ethereum’s supply has been shrinking at -0.2% per year (while Bitcoin’s is inflating at +1.67%), which is a solid start — but, bonus:
  
  ETH’s burn rate will only increase as the bull market sets in and folks trade more.
  
  (Making it a double-whammy of positive narrative and fundamentals).

We love to see it!

🤝 Partner:

Unlock Your Startup's Potential with Raze 🚀

We get it. Raising funding for your startup is hard!

You have a killer idea for an epic new product…all you need is a bit of funding to build out the team and market the damn thing!

Problem is, you're probably stuck in a maze of paperwork, investor meetings, and legal complexities.

That’s where Raze comes in.

Whether you're a budding entrepreneur or a seasoned Web3 innovator, Raze is designed with you in mind. They understand the struggles of finding the right investors and navigating the intricate web of regulations, especially in the U.S.

The Raze platform streamlines the entire capital-raising process and helps you put your investor networking on autopilot - connecting you with the perfect investors and providing expert guidance every step of the way.

(It’s basically a cheat code for raising funding).

So, if you have no lawyer, no investors, or you’re stuck trying to raise capital without gaining much traction, check out Raze – the ultimate solution for seamless capital raising!

Click the big red button below to learn more 👇

🔪 Let's dissect this:

R.I.P: Crypto’s Infinite Money Glitch Just Got Patched

In one sentence: Airdrop farmers’ method of spamming comments on a crypto project’s Github profile → receiving an airdrop for ‘contributing’ no longer works.

You know that one Australian dude who discovered an infinite money glitch on a certain type of ATM?

Where, as long as a certain series of withdrawal requests were made between 12am-1am at night, it wouldn’t be debited from his account?

All he had to do was go to an ATM once a night, type in a few numbers, hit the big green withdrawal button — and BAM!

Money in his wallet.

Yeah, well — this is kinda like the crypto version of that:

A handful of airdrop farmers recently discovered the online equivalent of that ‘big green withdrawal button,’ in the far reaches of the internet.

The button in question was the ‘comment’ button on certain Github code repositories.

See, these farmers realized that some Web3 projects not only airdropped crypto as a reward to their early users — but also to their early contributors.

And that these ‘contributions’ were tracked and quantified by the amount of comments each person had left on a crypto project’s Github repository.

What’d they do next?

We can’t be certain, but if we had to guess, we’d wager it went a little something like this:

They wrote a piece of code that…

1. Identified a bunch of crypto projects

2. Found their Github repos

3. Hit ‘em with a bunch of comments automatically

Good news/bad news (depending on where you stand):

This airdrop glitch no longer works.

Projects have gotten wise to the tactic and restricted the amount of comments that can be left on any one Github repo.

R.I.P. 🙏

Airdrops, Explained.