Good morning 💫
Welcome! This week we wrapped up our bootcamp and hosted an event with Braintrust on transitioning into Web3. It was a tough week for crypto — we’ve summarised all that happened.
What’s happening in Odyssey
We wrapped our bootcamp this week - big thumbs up to our first cohort!
We hosted an event with Braintrust on making the transition from Web2 to Web3. Check out the recording below.
Next week, we’re hosting out community town hall on 18 May 2022 (9 AM PST). Register here.
Going forward, Odyssey will focus on making our upcoming pfp NFT project a success. Check out this message for more details.
You will find all future Odyssey events here 💫
What’s happening in web3
The past week was dominated by the news of Terra, an algorithmic stablecoin, de-pegging. Our thoughts are with the folks who’ve lost large amounts of savings because they trusted Terra.
Whilst this is a tough time for crypto and Web3, we’re going to stay focussed on our goal — to onboard the next million people into Web3.
Here are the best threads to get you up to speed on what went down.
Our very own Alan broke down what happened in a Twitter thread.
Jon Wu wrote an in-depth thread on why this was predictable.
Bankless did a podcast on the Terra ecosystem and the depeg.
For some time, crypto Twitter believed it was Citadel (a market maker) and Blackrock (an asset manager) that de-peged the stablecoin. Both parties made statements to deny this.
Lots of other good stuff happened in Web3 this week.
Instagram announced that it will allow users to display verified NFTs on Ethereum and Polygon. Flow and Solana are coming soon.
Google Cloud announced that it’s forming a Web3 product and engineering team.
The Azuki founder admitted they were involved in projects that were rug pulled. As a result, Azuki’s floor price fell by 60% in 24 hours.
Germany is eliminating all tax on crypto as long as the asset is held for more than a year.
As always, join our community to check out more events, contribute to a project, and stay up to date. Until next week!