In today’s edition:

• Jake Paul and Justin Sun sued by SEC
• The metaverse doesn't start in VR, it starts here...
• RESOURCE: Institutional vs. Retail Investors (in 6:06)
• Meet Web(GPT)3! The chatbot that teaches you Web3, in real time 👋 [created, by Chevy]
• More institutional investment in BTC may be on its way (here's why)

Terms used (click for translation):
​NFT, Metaverse, Web2/3.

​

​Jake Paul and Justin Sun sued by SEC​

Never thought you’d find yourself cheering on the SEC?

Take this beer. Hold it for us.

You got it? Nice n tight? Ok, now…

Try this one on for size:

Jake Paul is being sued by the SEC, along side Justin Sun (the founder of TRON).

The SEC said in a press release, that it was suing:

• Justin Sun
• The Tron Foundation
• The BitTorrent Foundation
• And BitTorrent (now known as Rainberry)…

For the sale of tronix (TRX) and bitTorrent (BTT) tokens, which it considers unregistered crypto securities.

As for Jake Paul, he’s copping it for promoting TRX and/or BTT tokens, without disclosing he was being paid to do so.

But just as fast as it began for Jake, it’s now over - according to a press release, he’s already settled outside of court.

Ok, we’ll take that beer back now…

GET TL;DR

​

​The metaverse doesn't start in VR, it starts here...​

Last week, a patent (originally filed by Sony in early 2022) was made public...

The title?

"NFT System for Transferring and Using Digital Content Between Gaming Platforms."

Now, most patents go nowhere. We know that.

...but we can't help but get excited about this!

See, we don't think the metaverse begins as a VR experience, or as a singular 3D virtual world (that comes later).

In our minds, the metaverse starts quietly, with integrations (like this ☝️) that support basic interoperability.

Meaning, our digital identities (and the items/data they hold) are transferrable across all platforms.

Need an analogy?

Think of 'digital identities' as email/domain names (e.g. hello@web3daily.co), and the 'items/data' they hold as contact lists.

If we don't like Gmail, we can port hello@web3daily.co and its contacts over to Outlook - or even set up our own email server - because we own the domain and contact list.

That interoperability is something we lost in Web2.

E.g. we can't take our followings with us seamlessly between say, Instagram and TikTok.

Instead, we start from scratch on each new platform, and rent our identities in exchange for our behavioral data.

In Web3, that all reverts back to an 'email-like' system, where our Web3 domain names (e.g. web3daily.crypto) act as a universal account, hosting our messages, photos, videos, contact lists...everything!

Meaning, if you were to build a following on say, LensTube (a Web3 version of YouTube), that following - along with all of your posted content - would all made available to you on other social apps, like Orb (a Web3 version of Twitter).

How did we get here from news of a Sony patent? Honestly, we have no idea, but...

‘One social following to rule them all, in perpetuity.’

How cool is that!?

GET TL;DR

​

​

​Meet Web(GPT)3! The chatbot that teaches you Web3, in real time 👋​

Everyone, say hi to Web(GPT)3 👋

We cooked this little guy up to help you learn about Web3, faster!

Web(GPT)3 uses - you guessed it - ChatGPT to translate Web3 & crypto concepts into plain english, using simple analogies.

Ask a question (whether straightforward or complex):

Always get a simple answer in return:

If you want to try Web(GPT)3 out, Chevy is rinsing early access to it, in exchange for engagement, here:

GET EARLY ACCESS

​

​More institutional investment in BTC may be on its way (here's why)​

ARK Invest CEO, Cathie Wood, did an interview with Bloomberg on Tuesday which raised some serious eyebrows (in a good way!).

In the interview she spoke about how the current banking crisis would "attract more institutions" to the BTC market over time.

One of the points Wood made was that ARK Invest predicts the price of BTC would be between $1-$1.5M USD per coin by 2030.

(A bit different to the BTC price to hit $1M in 90 days bet made earlier this week by Balaji, but still...)

Here's Wood's rationale:

1. ARK estimates that most firms would allocate between 2.5% to 6.5% of their investment portfolios towards BTC.
   ​
   The idea being that they would be diversifying their funds (and therefore their risk) into a new asset class.
   ​
   (Shoutout to Mrs Zabowski for teaching Seb about 'portfolio diversification' in Economics 101).
   ​
2. A big factor in institutional investment in BTC is the decoupling (breaking up) of BTC price movement with the stock market's price movement.
   ​
   And that's exactly what has happened over the past week or so.

See the correlation?

Nah, us either - that's the point.

The less correlation between BTC and the stock market price movement, the more incentive institutional investors have to use BTC as a way to diversify their portfolio.

And the more institutional investment in BTC, the stronger it becomes as a whole.

We love to see it!

GET TL;DR

​

​The Stock Market, Made Simple. [sponsored]​

The Average Joe is a free 3x-weekly newsletter that simplifies the stock market for everyday investors.

​Become a better investor by reading their 5-minute, jargon-free stock market newsletter. Join free 👇

JOIN FREE

​

🧪 Your Daily Dose of Web3

• 📲 Telegram Announces USDT Stablecoin Payments on Tron Network​
• 💸 Hackers Drain Bitcoin ATMs of $1.5 Million by Exploiting 0-day Bug​
• 🙅 SEC Warns Coinbase of Enforcement Over Its Staking Rewards Products​
• 🥽 Deloitte Dives into Immersive Experiences as More Industries Turn to Web3​
• ✉️ Unstoppable Domains Launches Encrypted Messaging to Empower Web3 Communities​

​

Alright, that’s it for today!
Love to the family,

​Chevy & Seb​

P.S. Want to learn how to research and value cryptocurrencies? We have a bi-weekly publication that does just that.

---

What did you think of today's edition?

​😃 Loved it! | 😐 Meh, it was ok. | 😡 Hated it.​

​Help us write content that's relevant to you! (Click here)​

Forwarded this? Sign up here!​

Want to advertise with us? Get in touch with Seb.
​seb@web3daily.co​

---

Refer friends → get cool stuff.

👇 It only takes one referral to start earning rewards! 👇

​

---

Who are we?

Uh oh! Now for the boring stuff:

This content is for informational purposes only. Such information should not be construed as legal, tax, investment, financial, or other advice.

Phew! Thanks for hearing us out. We promise to never be that mundane again.

Oh, and - whatever you do, do not click this link.