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🥇 The Winners of 2023 - w3.recap

🥇 The Winners of 2023 - w3.recap

🎣 w3.catch-of-the-week cw51

Vicktoria Klich & Quinn Wilhelm
December 22, 2023

GMGM and welcome to the 🎣 w3.catch-of-the-week, the newsletter that's more reliable than crypto predictions and more fun than Memecoins!

This is a special edition dedicated to the breakthroughs and success stories that have emerged in different areas and show the versatility and potential of Web3 technologies.

Degens who survived the 🐻

The year 2023 was a true rollercoaster for Web3. We started off deep in a bear market, with outflows hitting almost every sector except McDonald's employment 😉. But, as the year unfolded, a significant turnaround emerged, fueled by rumors of an impending Bitcoin Spot ETF, injecting fresh capital flows and revitalizing the market 🚀.

Let's break down the most interesting Use Cases; Here’s your w3.recap 2023

😳 How we started
⚡️ Solanas Great Comeback
💰 VC Funding in 2023
💡 Nikes Blueprint
🐧 The Hottest Collectibles of the Year
🧑‍✈️ Loyalty Use Case
🔮 Web3 in 2024
🤯 How it’s going

Let's start with a brief review of the w3.hub. In January 2023, we announced that we would build the go-to space for the Web3 community in Berlin. This is how we started:

You will find out what the w3.hub currently looks like at the end of the newsletter 👀.

🦅 The Phoenix from the Ashes - Solana

While I was reviewing the year 2023 and looking at the other newsletters from the year, I came across this tweet:

Current status of crypto twitter
— Alan Carroll (@alancarroII)
5:19 PM • Jan 5, 2023

It's absolutely crazy how well this tweet has aged. The quick answer: Yes $Bonk has been the ticket to generational wealth lol. In terms of figures, the Memecoin $Bonk recorded a price increase of 7,000%.

What happened to the Solana ecosystem? 🤭

2023 witnessed a phenomenal comeback for Solana, defying the "death" claims following the FTX collapse in late 2022. From being in the depths of a bear market to experiencing an extraordinary turnaround, Solana's journey has been nothing short of cinematic.

$SOL on Coinmarketcap - 22.12.23

Solana's Foray into Mobile with Saga 📱

Launched in May, the first Web3 smartphone, Saga, offers an alternative to the crypto-restrictive operating systems of Google and Apple. Interestingly, when Crypto Twitter discovered in mid-December that each Saga Phone comes with an airdrop of 30 million $BONK tokens the sales multiplied, leading to the device's sell-out.

🤓 Fun Fact: Right now it's even reselling for more than 2x of the retail price on eBay.

xNFTs - Revolution of NFTs

The introduction of "Executable" NFTs or xNFTs in late April brought a lot of attention to the Solana ecosystem. xNFTs redefine how applications and websites operate in Web3 by allowing them to run directly within a wallet. This innovation removes the need for centralized Web2 interfaces, enabling a more seamless and decentralized user experience.

DeFi Summer on Solana 📈

As 2023 draws to a close, Solana's DeFi sector is experiencing a significant upswing, driven by strategic airdrops of leading protocols. This wave of engagement, reminiscent of the original DeFi summer, sets the stage for Solana to continue its growth trajectory in the following year.

👉 To put it simply again: Protocols like Pyth & Jito reward the interaction of early adopters by giving away free tokens (That’s what an Airdrop means).

VC Funding in 2023

In 2023, the Web3 sector saw a significant decline in venture funding, which totaled $9.5 billion, a sharp drop of 77% from the previous year's $42 billion.

The graphic illustrates a monthly breakdown, highlighting that despite the overall downturn, certain months like February, April and May saw heightened activity with over $1 billion in funding, primarily driven by investments in infrastructure and NFT/gaming sectors. These financings illustrate the volatile but sustained investor interest in Web3 and it seems that we are currently in another upswing.

🏄🏽‍♀️ Vickys Top Picks by Numbers

$20 Million

Animoca Brands received funding of $20 million to build the Mocaverse.

$24 Million

Blackbird Labs has successfully raised $24 million in a Series A funding round to improve customer loyalty specifically in the hospitality industry.

$225 Million

Wormhole's cross-chain protocol has convinced top investors with an investment of $225 million due to its potential to improve interoperability across different blockchains.

👟 Nike's Web3 Platform: .SWOOSH

Nike's journey in the Web3 space is marked by the pre-.SWOOSH era, focusing on experimentation with RTFKT and CloneX collections and the post-.SWOOSH era brought a closer integration with its core brand through the innovative .SWOOSH platform.

Nike launched .SWOOSH at the end of 2022 and it was introduced to foster a ✨community-centric digital experience✨, focusing on virtual creation and co-ownership.

In April, Nike unveiled the "OurForce 1" collection, a digital tribute to its 50-year legacy, designed for the digital generation, underscoring the brand's ongoing evolution in the digital space.

Throwback to the w3team offsite where we had fun opening our OF1 boxes

Community Engagement and Co-Creation: The OurForce 1 campaign fostered community involvement, inviting users to participate in the design process and contribute to Nike's virtual product lineup.

Fortnite Activation for Community Engagement: Nike excitingly activated its community through a Fortnite initiative called “Airphoria”, rewarding players with digital collectibles accessible on the .Swoosh platform.

Direct-to-Consumer Focus: Emphasizing content, community, and personalization, Nike's direct-to-consumer approach in the digital era mirrors its commitment to creating engaging brand experiences.

Month of Giving Initiative: Nike's DotSwoosh platform recently celebrated its first anniversary by launching a "Month of Giving," a community-focused initiative rewarding loyal members with exclusive items from the .SWOOSH vault.

Nike's Web3 strategy with DotSwoosh, utilizing innovative community engagement and co-creation, demonstrates how consumer brands can succeed in Web3.

By integrating virtual collectibles, engaging on popular platforms such as Fortnite and encouraging direct interaction with consumers, Nike is setting a great example of combining digital innovation with traditional brand strengths to create a dynamic and inclusive digital brand culture.

👑 Pudgy Penguins: From Collectibles to Retail Royalty

Pudgy Penguins has become one of the most important collectibles of the year, creating a ripple effect that extends beyond the digital sphere and into retail. With their collectibles making a splash at Walmart and Toys R Us, they have not only activated NFT enthusiasts.

Pudgy Penguins 2023 Achievements

Pudgy's growth on social media, with milestones such as 1 million followers on Instagram and 10 billion views on Giphy, shows their enormous appeal.

Here’s a list with some of their biggest achievements:

Walmart Launch: Introduced Pudgy Toys in 2,000 Walmart stores

$9 Million Funding Round: Raised $9 million in funding, led by 1kx

Retail Expansion: Entered additional major retailers like Toys R Us, Hot Topic, and Smyths Toy Stores

Media Appearances: Featured in various TV shows and news segments

Pudgy World Preview: Announced the launch of Pudgy World in Q1 2024

Their success in retail partnerships, social media, and community engagement exemplifies the potential of Web3 technologies in creating new consumer experiences and forging genuine connections.

Lufthansa's Uptrip: Revolutionizing Loyalty with Web3 Technology

Lufthansa's Uptrip app marks a significant foray into Web3, transforming passenger loyalty into a digital collectible experience. By scanning boarding passes, travelers create unique Polygon-based NFTs. These NFTs unlock real travel perks like lounge access and flight upgrades, effectively gamifying the existing loyalty program.

We had the honor to learn more from Steffen & Philipp at this years w3.vision

Uptrip not only enhances customer engagement but also appeals to a younger, tech-savvy audience, seamlessly integrating traditional airline services with innovative blockchain technology 👏.

w3.Predictions - Web3 Use Case of 2024 🔮

In this new section, I asked my w3.team members to share their predictions for 2024. The question I asked them was: "Which Web3 technology use case will everyone be buzzing about in 2024?"

Here are their intriguing answers, giving an idea of the potential future trends and developments in the Web3 space:

Nate: “I don't feel in a position to make any predictions on the consumer side. I think that the dev scene will be buzzing a lot about new tool suites for devs. In other words, tools that make the development of applications easier.”

Quinn: “I believe that the concept of ownership & interoperability for digital assets in the gaming industry is making it into the consciousness of more gamers in 2024. I am therefore bullish on Web3 Gaming.”

Vicky: “I am looking forward to seeing more advancement in Decentralized Science (short: DeSci). The success of VitaDAO and interest from major pharmaceutical companies like Pfizer showcase a new era of collaborative and transparent funding for scientific research. And: Developments in zero-knowledge rollups and blockchain interoperability indicate a more efficient and secure future for decentralized science, enhancing data sharing and collaboration.”

André: “Wallstreet will enter Crypto and we will see BTC spot ETFs. Moreover traditional banks will start more trial projects with corporate clients where blockchains are used for intra-company settlements, international payments and issuance of loans.”

Henrik: “My prediction is around a notable surge in interoperability, as diverse systems and platforms increasingly integrate and exchange data with ease. Additionally, the rising momentum around Solana in the application layer signals a future where blockchain applications are more user-friendly and accessible, reducing friction and setting the stage for widespread adoption.”

Drumroll please🥁🥁🥁
This is how the w3.hub looks like right now 🚀

We are proud to onboard partners such as Solana, Celestia, Coinbase, and Polygon for various initiatives, including welcoming 50 members to join our mission of becoming the go-to space for the Web3 community.

And this is just the beginning…