Happy Wednesday, friends - I can't believe we are here again! Seriously, does daylight savings also come with a time machine? We're not complaining though because we have an exciting newsletter this week! It comes with a big announcement about what we are working on for the future of w3 the North and we hope you help us shape it. As always, we hope you learn something new, feel inspired, or at least have a good laugh! 

Quip of the Week

Join us IRL in Toronto this Friday! 

If you are in Toronto or close-by, come join us IRL on April 1st at 5:30pm in Downtown Toronto- there is no program so come and meet some of the amazing members of the community and enjoy some light web3 discussions over dinner (eg what's a better investment: Arizona ice teas or Bitcoin??) Grab your spot here!

The Latest 

An NFT collection to memorialize this year's Oscars. Of course.

2022. What a joy to be alive but also 🤦‍♀️🤦‍♀️🤦‍♀️. Along with the rest of the world, NFT creators/opportunists were quick to react following the confrontation between Will Smith and Chris Rock. Honestly, we didn't even want to talk about this but here we are. A "Will Smith Inu Coin" along with a "Will Smith Slap" collection of NFTs dropped shortly after the altercation, with spikes in both value and volume moved since Sunday. It's not surprising given the hype NFTs intrinsically rely on, but before you get out your wallet for the lolz, it's worth noting that a study from a blockchain analytics firm revealed >65% of NFT projects flop. You might want to think twice before you run to OpenSea right after some of these, erm, noteworthy events (I think we've had enough for the year, thanks!!)

Avengers Assemble! Leaders from Canada's crypto industry are forming a web3 council 

Last week we dove into President Biden's Executive Order on cryptocurrencies. This week, a new council has formed between the heads of some of Canada's largest cryptocurrency companies to push for a national strategy on crypto and digital assets. The council is comprised of heavy hitters and titans of industry like Wealthsimple, Dapper Labs (creators of NBA Top Shot!), Ether Capital and more. 

The timing of this council forming is relevant as controversial crypto policy conversations have been top of mind as of late (eg. RCMP involvement of cryptocurrency exchanges post-Freedom Convoy/Executive Order, Coinbase's new requirements for increased tracking for off-platform crypto transfers in Canada, etc etc.) The goal of the council is to bridge better conversation between the crypto space and policy makers and establish Canada's footprint in the web3 space since, according to the press release, "the Canadian Web3 community has led the charge on some of the most innovative and high-valued projects globally" and yet "world-changing talent and creativity often starts in Canada, only to flourish elsewhere." Their mic drop conclusion: "We can’t afford to miss the opportunity to nurture these talents domestically, for the benefit of all Canadians.” 

Move over MCU, Yuga Labs acquires Cryptopunks and Meebits to make the Bored Ape Yacht Club universe (metaverse) a little bigger and more ambitious

There are a lot of Marvel references happening in this newsletter but for good reason! Yuga Labs is the creator behind the super famous Bored Ape Yacht Club, a PFP NFT collection (yes, it's exactly what it sounds like: NFTs of a bunch of cartoon apes that people use as profile pictures) In early March, Yuga Labs acquired the IP rights, brand and copyright of two other trendy (and competitor!) PFP NFT collections, Cryptopunks and Meebits, from Larva Labs. Yuga is attempting to push the boundaries of what an NFT ecosystem can be, with plans to create a unified and gamified metaverse that includes all the NFTs it owns. Seems sort of like a web3 Marvel/Disney, and it will be fascinating to watch as they continue to build. Although the terms were not disclosed, Yuga is now valued at $4B and well positioned to build its empire, which will be the first of its kind. 

A BIG UPDATE FOR W3 THE NORTH (+ an ask)

The intention of this community has always been to be able to learn together; to explore what is going on in the world of web3 and nurture a diverse community of people underrepresented in web3 and its creation. In this spirit, we're testing a new format starting in April to allow for deeper learning and engagement. For the next 3 months, we're going to dedicate each month to a theme. Each theme will have relevant real life applicability (eg. climate, real estate, finance, education, etc.) and together we'll explore how web3 impacts and intersects with that theme.

During the entire month, the last section of our newsletter will be dedicated to deep diving into that theme, allowing us to build upon prior learning for four weeks. (Don't worry, you'll still always get the latest news too, agnostic of theme!) At the end of the month, we'll hold a Speaker Series with industry experts to provide an opportunity for rich conversation and discussion around the month's theme.

Sounds great right?? Well... we need your help! We'd love your feedback on what themes you'd be most interested in so we can ensure to create content that is interesting and relevant to you!

Why are we making these changes? 

Here, I will tell you a personal story. For a long time, I thought that web3 was uninteresting. To be honest, it seemed a little too much like a frat party with mad Enron vibes, and I didn't want to be a part of that. It wasn't until a friend of mine told me about the real life tangible opportunities in web3 (in my case, it was decentralized homeownership powered by web3 and how it was changing the way that people could purchase and own property to make it more accessible and equitable.) The point is, so much of the beauty of web3 comes from the application of it, not the theory. So we want to focus on giving you all practical examples of how web3 is disrupting things that matter so that you can feel inspired and your mind can start turning on how it might apply to your life, your work, your passions etc. 

Thank you for coming on this learning journey with us! we look forward to hearing your feedback. 

Want to dive in more?

Something to read

• Report from Nansen on NFT minting behaviour

• What Yuga Labs wants to build after raising 450M

• Learn from the Hustleverse on how to transition from web2 to web3

Something to do

• Join our Discord

• If you are in Toronto join us for an IRL meet up this Friday

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Till next time,

w3 the North