Friends, today I have gathered you here to say that I am Taylor, CEO of Hedgehog. Don’t worry, I’m going to say other things too, but we always start with Hedgehog! AKA the reason this newsletter exists. My company makes it easy to keep track of your whole crypto portfolio in one place — sync your exchange accounts and wallets, then chill. Or you can even trade through our website via your exchange accounts.
Remember there’s a Ledger Nano S giveaway in every newsletter. Find instructions to enter at the end of this email.
Possible scandal in the works: “Found an ETH address that bought hundreds of thousands of dollars of tokens exclusively featured in the Coinbase Asset Listing post about 24 hours before it was published, rofl” — @cobie (formerly CryptoCobain). Like it or not, Twitter is where the action goes down…
Tldr: I almost called this a “juicy popcorn moment” but then I realized that juicy popcorn sounds gross.
Premier NFT marketplace OpenSea has started treating unsolicited airdrops as spam: “By default, we now auto-hide airdrops that are not from verified collections. These airdropped items will automatically appear in the ‘hidden’ tab of your profile, and will no longer appear in your activity feed.”
OpenSea’s FAQ page on this change says, “we do realize this will impact some creators with smaller collections who regularly airdrop NFTs to their community. We are planning to continue to improve our filtering system in the future.” It will be interesting to watch how this evolves. Will there eventually be a social-media-type engagement algorithm for displaying NFTs? If so, what will platforms like OpenSea emphasize and encourage amongst users? Trading frequency seems like a safe guess.
Tldr: Mildly disappointed that this happened before Hedgehog had the chance to do a promotional NFT airdrop, but I can easily see why collectors would be annoyed by a deluge of random NFTs from random projects. Especially high-profile collectors — the people targeted with the most spam, I presume — whose intentional collection is actually worth substantial money.
Speaking of NFTs and social media, here’s a fascinating idea for how both could evolve, from the RARA Social project:
A core primitive of the protocol is transforming NFTs into 1x use reaction tokens, the Web3 equivalent of a like, emoji, or meme. [...] “Reactions” are non-transferrable, consumable tokens generated by an NFT’s media that are used to react to and curate third-party NFTs. Reactions are [a] portable reputation system of likes and reactions for NFTs. “Transformation” is the process of turning an NFT into a reaction. NFT owners transform NFTs by de-contextualizing the key focus point of an NFT to repurpose in different context for curating with reactions. Think: simple effects and filters for NFTs.
I’ll be honest, I don’t fully understand how this is supposed to work, but the idea of Facebook-esque reactjis being actual transferable NFTs is intriguing. And RARA is staging a MemeHunt so that’s cool.
Tldr: Quietly, crouching low, I approach the meme, my spear held at the ready… My village will feast on this poomoji tonight…
A few more links for your reading pleasure:
- “How Chris Dixon’s Dive Down The Crypto Rabbit Hole Made Him The World’s Top Venture Capitalist”
Tldr: Sounds like he found a rabbit hole that was filled with money. Why are my rabbit holes only ever filled with bad code?
- “Former BitMEX CEO Arthur Hayes predicts 'coming crypto carnage'” — who knows, tbh, but he’s putting his money where his mouth is, which adds credibility to any prediction. However, Hayes isn’t worried that he might be wrong, “since he maintains a long position on crypto over the longer term.”
Tldr: CEO of margin-trading company opened a margin trade. PANIC! CELEBRATE! Idk.
- “Bored Apes Go Hollywood With Coinbase-Produced Movie Trilogy”
Tldr: Fantastic Cryptocurrencies and Where to Find Them, 2 Layer 2 Crypto, and The Return of Ethereum...
Tldr: Fiasco is a really fun word to say over and over and over again.
- “Uniswap Joins the Hunt for Web3 Startups with New Venture Arm”
Tldr: How do I get one of these "venture arms," and is it better or worse than my two existing "human arms"?
- CNN Business: “Every Wednesday from April 13 through May 4, Krispy Kreme will sell a dozen original glazed doughnuts for the price of a gallon of regular gas.” Consider this a public service announcement.
Tldr: Welp. There you have it. People still eat Krispy Kreme donuts, and the Ethereum upgrade delay has officially affected donut prices. Wait… is this article even about crypto?
Man, it wasn’t on purpose, but I feel like we’ve got some kinda negative stories in this newsletter. Cheer me up — if you were meme hunting, what meme would you and your buddies take down? Hit me with a favorite.
That’s the giveaway question this week. Reply to this email with a meme that makes you smile, and you might be the lucky winner of a Ledger Nano S hardware wallet! If you have an actual image handy, include it, but you can also just let me know the name or concept of the meme.
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