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GM & welcome to the web3 weekly wrap up!
In news about the walled gardens of web2, use of Meta’s Twitter clone Threads is dying even faster than expected, while WB has attempted to save The Flash by releasing it “on blockchain”
In web3 DePIN news, Arweave hit 1 billion transactions, The Graph’s substreams-powered subgraphs dramatically boost performance, Filecoin lowered storage costs by 40% and Akash enables generation of the beautiful stable diffusion QR codes Amy likes so much.
On the AI front, studies have proven what everyone has been speculating about for the past month, ChatGPT is indeed getting dumber. Meanwhile The Simulation released research on generative TV & showrunner agents that can write, animate, direct, voice, and edit TV shows with a prompt.
In policy news, US house republicans have introduced a new draft of their market structure bill, the federal reserve has launched FedNow while helpfully reminding everyone that it’s not a CBDC, and presidential candidate RFK Jr has unveiled his plan to back the US dollar with Bitcoin.
Web3 Working Group is a nonprofit organization that educates about web3 infrastructure and how it is distinct from cryptocurrency. We educate regulators and the public at-large about how web3 will permanently restore user control of cyberspace, replacing centralized control with transparent and permissionless protocols through incentives aligned with users. We focus on Blockchain / Cryptocurrency.
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