Not your keys, not your crypto

Our weekly study group and the best reads from Web3

Good morning 💫

This week, we talked about tokenising communities. Next week, we’re hosting a study group on keys. As always, we’ve rounded up the best reads from web3 below.

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What’s happening in Odyssey

Last week, we hosted:

• How to build a tokenized community with Coinvise - Recording here

• A study group on “Should you go full-time DAOs in bear market?”

• An AMA with Polygon DAO. Recording here.

• A virtual brunch for black women in Web3.

This week, we’re hosting:

• Our weekly study group. We’ll be discussing public and private keys, and how they work. Register here.

You will find all future Odyssey events here 💫 . Also, check out our free learning guides.

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What’s happening in web3

Celsius, a $10 billion centralised finance platform, collapsed this week.

Jack Niewold 🫡 @JackNiewold

THE CELSIUS BLOWUP, EXPLAINED. Huge sectors of crypto are imploding, and crypto unicorns might be coming down with it. Luna was first, but now $10b giant Celsius is facing insolvency and even bankruptcy. Let's dive in:

3AC, a crypto hedge fund, also collapsed.

The DeFi Edge 🗡️ @thedefiedge

One of the LARGEST Crypto Venture Capital firms: Three Arrows Capital. They're becoming insolvent. With potentially $18b under management, this could be catastrophic for Crypto. Here's a timeline of what's going on and the possible consequences: ↓↓↓

The US Federal Reserve hiked its benchmark interest rate by 75 basis points.

Blockworks @Blockworks_

BREAKING: Fed increases rates by 75 bps, the biggest rate hike since 1994

Mastercard is letting people buy NFTs using their master card via 7 partners.

Liron Hayman ✨ @HaymanLiron

I just noticed this on LinkedIn. @Mastercard adding merchants like @Immutable isn't a big deal; they do it every day. But their CEO posting about it *is* a big deal imo. Prices might be in a bear market, but I don't think adoption is.

Peter’s deep-dive on NFT memberships was featured on Future. It’s a great read.

Future @future

NFT memberships, where fans hold a specific NFT to join a private community and get IRL perks, are on the rise as a viable alternative to subscription and ad-based revenue. For creators getting into web3, @petergyang's guide is a great place to start.

future.comA Practical Guide to NFT Memberships for CreatorsBenefits and challenges of NFTs as a monetization channel, how creators are using them in practice, and more.

Alchemy announced a $25 million developer grant program.

Alchemy | The Web3 developer platform @AlchemyPlatform

1/ Announcing the WAGBI Grant - #WereAllGonnaBuildIt!! 👷‍♀️🛠️ Alchemy's $25M Developer Grants Initiative The market tanks - we #WAGBI on Web3 Here’s what it is and how you can access it:

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As always, join our community to check out more events, contribute to a project, and stay up to date. Until next week!