🚀 Crypto 101 — The Primer You Need

1. 🎭 NFT Drops

NFT stands for ‘non fungible token’. In real life, most things are not ‘fungible’ (i.e. no two things are exactly the same). This lack of fungibility leads to items, people, and ideas having value — for example, antique trading cards, leaders in communities, patented ideas are all fungible concepts and things that have imprints in society.

  1. McDonalds NFT — National food chain, McDonalds, recently launched it’s own NFT project — the digital McRib. They are only minting 10 in total (which can be earned via raffle). Enter to win today!
  2. Bored Ape Yacht Club — One of the most popular NFTs right now is B.A.Y.C. This thriving community loves their apes — so much so that they’ve transacted 199.9k worth of Ethereum on it ($859 million USD)
Cryptoys, McDonalds NFT, BAYC (left to right)

2. 🦑 DeFi Projects

There are bunch of projects in the decentralized finance space that are pushing the boundaries of what can be done with cryptocurrencies and blockchain. Here are a few interesting ones that are emerging (and are often discussed in Crypto Dispatch).

  1. Serum — Serum is a complete, non-custodial decentralized exchange running on an on-chain central limit order book (CLOB) on Solana’s mainnet. They let folks make transactions without expensive fees (also known as ‘gas’).

3. 🏝 DAO’s & Communities

Beyond NFT projects and financial projects, there’s a third and very compelling use case for cryptocurrencies: communities! Folks are starting to form decentralized autonomous organizations (DAOs) which are communities that have a common purpose but function (and thrive) without a centralized governing body. Members of the community function as individual nodes and their output allows them more leverage and power in the community. Folks can utilize their community tokens to vote (like shareholders) and ultimately shape the direction of their group.

  1. SolFarm — A Solana-chain project that is build a yield aggregation platform. They’ve raised $5million in strategic funding to kickoff their project to bolster the Solana community.
Uniswap Logo

Enjoyed this drop? Interested in learning more about Crypto, DeFi, NFTs, and Web3?

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NFT Markets Post Record-Breaking Week - CoinDesk
Sample of a famous crypto NFT project — CryptoPunks!

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