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Ezra Reguerra

Ezra Reguerra

3 years ago

Yuga Labs’ Otherdeeds NFT mint triggers backlash from community

Unhappy community members accuse Yuga Labs of fraud, manipulation, and favoritism over Otherdeeds NFT mint.

Following the Otherdeeds NFT mint, disgruntled community members took to Twitter to criticize Yuga Labs' handling of the event.

Otherdeeds NFTs were a huge hit with the community, selling out almost instantly. Due to high demand, the launch increased Ethereum gas fees from 2.6 ETH to 5 ETH.

But the event displeased many people. Several users speculated that the mint was “planned to fail” so the group could advertise launching its own blockchain, as the team mentioned a chain migration in one tweet.

Others like Mark Beylin tweeted that he had "sold out" on all Ape-related NFT investments after Yuga Labs "revealed their true colors." Beylin also advised others to assume Yuga Labs' owners are “bad actors.”

Some users who failed to complete transactions claim they lost ETH. However, Yuga Labs promised to refund lost gas fees.

CryptoFinally, a Twitter user, claimed Yuga Labs gave BAYC members better land than non-members. Others who wanted to participate paid for shittier land, while BAYCS got the only worthwhile land.

The Otherdeed NFT drop also increased Ethereum's burn rate. Glassnode and Data Always reported nearly 70,000 ETH burned on mint day.

More on NFTs & Art

Anton Franzen

Anton Franzen

3 years ago

This is the driving force for my use of NFTs, which will completely transform the world.

Its not a fuc*ing fad.

Photo by kyung on unsplash

It's not about boring monkeys or photos as nfts; that's just what's been pushed up and made a lot of money. The technology underlying those ridiculous nft photos will one day prove your house and automobile ownership and tell you where your banana came from. Are you ready for web3? Soar!

People don't realize that absolutely anything can and will be part of the blockchain and smart contracts, making them even better. I'll tell you a secret: it will and is happening.

Why?

Why is something blockchain-based a good idea? So let’s speak about cars!

So a new Tesla car is manufactured, and when you buy it, it is bound to an NFT on the blockchain that proves current ownership. The NFT in the smart contract can contain some data about the current owner of the car and some data about the car's status, such as the number of miles driven, the car's overall quality, and so on, as well as a reference to a digital document bound to the NFT that has more information.

Now, 40 years from now, if you want to buy a used automobile, you can scan the car's serial number to view its NFT and see all of its history, each owner, how long they owned it, if it had damages, and more. Since it's on the blockchain, it can't be tampered with.

When you're ready to buy it, the owner posts it for sale, you buy it, and it's sent to your wallet. 5 seconds to change owner, 100% safe and verifiable.

Incorporate insurance logic into the car contract. If you crashed, your car's smart contract would take money from your insurance contract and deposit it in an insurance company wallet.

It's limitless. Your funds may be used by investors to provide insurance as they profit from everyone's investments.

Or suppose all car owners in a country deposit a fixed amount of money into an insurance smart contract that promises if something happens, we'll take care of it. It could be as little as $100-$500 per year, and in a country with 10 million people, maybe 3 million would do that, which would be $500 000 000 in that smart contract and it would be used by the insurance company to invest in assets or take a cut, literally endless possibilities.

Instead of $300 per month, you may pay $300 per year to be covered if something goes wrong, and that may include multiple insurances.

What about your grocery store banana, though?

Yes that too.

You can scan a banana to learn its complete history. You'll be able to see where it was cultivated, every middleman in the supply chain, and hopefully the banana's quality, farm, and ingredients used.

If you want locally decent bananas, you can only buy them, offering you transparency and options. I believe it will be an online marketplace where farmers publish their farms and products for trust and transparency. You might also buy bananas from the farmer.

And? Food security to finish the article. If an order of bananas included a toxin, you could easily track down every banana from the same origin and supply chain and uncover the root cause. This is a tremendous thing that will save lives and have a big impact; did you realize that 1 in 6 Americans gets poisoned by food every year? This could lower the number.

To summarize:

Smart contracts can issue nfts as proof of ownership and include functionality.

Jayden Levitt

Jayden Levitt

3 years ago

Starbucks' NFT Project recently defeated its rivals.

The same way Amazon killed bookstores. You just can’t see it yet.

Photo by Jason Redmond | AFP | Getty Images

Shultz globalized coffee. Before Starbucks, coffee sucked.

All accounts say 1970s coffee was awful.

Starbucks had three stores selling ground Indonesian coffee in the 1980s.

What a show!

A year after joining the company at 29, Shultz traveled to Italy for R&D.

He noticed the coffee shops' sense of theater and community and realized Starbucks was in the wrong business.

Integrating coffee and destination created a sense of community in the store.

Brilliant!

He told Starbucks' founders about his experience.

They disapproved.

For two years.

Shultz left and opened an Italian coffee shop chain like any good entrepreneur.

Starbucks ran into financial trouble, so the founders offered to sell to Shultz.

Shultz bought Starbucks in 1987 for $3.8 million, including six stores and a payment plan.

Starbucks is worth $100.79Billion, per Google Finance.

26,500 times Shultz's initial investment

Starbucks is releasing its own NFT Platform under Shultz and his early Vision.

This year, Starbucks Odyssey launches. The new digital experience combines a Loyalty Rewards program with NFT.

The side chain Polygon-based platform doesn't require a Crypto Wallet. Customers can earn and buy digital assets to unlock incentives and experiences.

They've removed all friction, making it more immersive and convenient than a coffee shop.

Brilliant!

NFTs are the access coupon to their digital community, but they don't highlight the technology.

They prioritize consumer experience by adding non-technical users to Web3. Their collectables are called journey stamps, not NFTs.

No mention of bundled gas fees.

Brady Brewer, Starbucks' CMO, said;

“It happens to be built on blockchain and web3 technologies, but the customer — to be honest — may very well not even know that what they’re doing is interacting with blockchain technology. It’s just the enabler,”

Rewards members will log into a web app using their loyalty program credentials to access Starbucks Odyssey. They won't know about blockchain transactions.

Join the waitlist here

Starbucks has just dealt its rivals a devastating blow.

It generates more than ten times the revenue of its closest competitor Costa Coffee.

The coffee giant is booming.

Credit — Statista.com

Starbucks is ahead of its competitors. No wonder.

They have an innovative, adaptable leadership team.

Starbucks' DNA challenges the narrative, especially when others reject their ideas.

I’m off for a cappuccino.

Yuga Labs

Yuga Labs

3 years ago

Yuga Labs (BAYC and MAYC) buys CryptoPunks and Meebits and gives them commercial rights

Yuga has acquired the CryptoPunks and Meebits NFT IP from Larva Labs. These include 423 CryptoPunks and 1711 Meebits.

We set out to create in the NFT space because we admired CryptoPunks and the founders' visionary work. A lot of their work influenced how we built BAYC and NFTs. We're proud to lead CryptoPunks and Meebits into the future as part of our broader ecosystem.

"Yuga Labs invented the modern profile picture project and are the best in the world at operating these projects. They are ideal CrytoPunk and Meebit stewards. We are confident that in their hands, these projects will thrive in the emerging decentralized web.”
–The founders of Larva Labs, CryptoPunks, and Meebits

This deal grew out of discussions between our partner Guy Oseary and the Larva Labs founders. One call led to another, and now we're here. This does not mean Matt and John will join Yuga. They'll keep running Larva Labs and creating awesome projects that help shape the future of web3.

Next steps

Here's what we plan to do with CryptoPunks and Meebits now that we own the IP. Owners of CryptoPunks and Meebits will soon receive commercial rights equal to those of BAYC and MAYC holders. Our legal teams are working on new terms and conditions for both collections, which we hope to share with the community soon. We expect a wide range of third-party developers and community creators to incorporate CryptoPunks and Meebits into their web3 projects. We'll build the brand alongside them.

We don't intend to cram these NFT collections into the BAYC club model. We see BAYC as the hub of the Yuga universe, and CryptoPunks as a historical collection. We will work to improve the CryptoPunks and Meebits collections as good stewards. We're not in a hurry. We'll consult the community before deciding what to do next.

For us, NFTs are about culture. We're deeply invested in the BAYC community, and it's inspiring to see them grow, collaborate, and innovate. We're excited to see what CryptoPunks and Meebits do with IP rights. Our goal has always been to create a community-owned brand that goes beyond NFTs, and now we can include CryptoPunks and Meebits.

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SAHIL SAPRU

SAHIL SAPRU

3 years ago

Growth tactics that grew businesses from 1 to 100

Source: Freshworks

Everyone wants a scalable startup.

Innovation helps launch a startup. The secret to a scalable business is growth trials (from 1 to 100).

Growth marketing combines marketing and product development for long-term growth.

Today, I'll explain growth hacking strategies popular startups used to scale.

1/ A Facebook user's social value is proportional to their friends.

Facebook built its user base using content marketing and paid ads. Mark and his investors feared in 2007 when Facebook's growth stalled at 90 million users.

Chamath Palihapitiya was brought in by Mark.

The team tested SEO keywords and MAU chasing. The growth team introduced “people you may know

This feature reunited long-lost friends and family. Casual users became power users as the retention curve flattened.

Growth Hack Insights: With social network effect the value of your product or platform increases exponentially if you have users you know or can relate with.

2/ Airbnb - Focus on your value propositions

Airbnb nearly failed in 2009. The company's weekly revenue was $200 and they had less than 2 months of runway.

Enter Paul Graham. The team noticed a pattern in 40 listings. Their website's property photos sucked.

Why?

Because these photos were taken with regular smartphones. Users didn't like the first impression.

Graham suggested traveling to New York to rent a camera, meet with property owners, and replace amateur photos with high-resolution ones.

A week later, the team's weekly revenue doubled to $400, indicating they were on track.

Growth Hack Insights: When selling an “online experience” ensure that your value proposition is aesthetic enough for users to enjoy being associated with them.

3/ Zomato - A company's smartphone push ensured growth.

Zomato delivers food. User retention was a challenge for the founders. Indian food customers are notorious for switching brands at the drop of a hat.

Zomato wanted users to order food online and repeat orders throughout the week.

Zomato created an attractive website with “near me” keywords for SEO indexing.

Zomato gambled to increase repeat orders. They only allowed mobile app food orders.

Zomato thought mobile apps were stickier. Product innovations in search/discovery/ordering or marketing campaigns like discounts/in-app notifications/nudges can improve user experience.

Zomato went public in 2021 after users kept ordering food online.

Growth Hack Insights: To improve user retention try to build platforms that build user stickiness. Your product and marketing team will do the rest for them.

4/ Hotmail - Signaling helps build premium users.

Ever sent or received an email or tweet with a sign — sent from iPhone?

Hotmail did it first! One investor suggested Hotmail add a signature to every email.

Overnight, thousands joined the company. Six months later, the company had 1 million users.

When serving an existing customer, improve their social standing. Signaling keeps the top 1%.

5/ Dropbox - Respect loyal customers

Dropbox is a company that puts people over profits. The company prioritized existing users.

Dropbox rewarded loyal users by offering 250 MB of free storage to anyone who referred a friend. The referral hack helped Dropbox get millions of downloads in its first few months.

Growth Hack Insights: Think of ways to improve the social positioning of your end-user when you are serving an existing customer. Signaling goes a long way in attracting the top 1% to stay.

These experiments weren’t hacks. Hundreds of failed experiments and user research drove these experiments. Scaling up experiments is difficult.

Contact me if you want to grow your startup's user base.

Muthinja

Muthinja

3 years ago

Why don't you relaunch my startup projects?

Open to ideas or acquisitions

Failure is an unavoidable aspect of life, yet many recoil at the word.

I've worked on unrelated startup projects. This is a list of products I developed (often as the tech lead or co-founder) and why they failed to launch.

Chess Bet (Betting)

As a chess player who plays 5 games a day and has an ELO rating of 2100, I tried to design a chess engine to rival stockfish and Houdini.

While constructing my chess engine, my cofounder asked me about building a p2p chess betting app. Chess Bet. There couldn't be a better time.

Two people in different locations could play a staked game. The winner got 90% of the bet and we got 10%. The business strategy was clear, but our mini-launch was unusual.

People started employing the same cheat engines I mentioned, causing user churn and defaming our product.

It was the first programming problem I couldn't solve after building a cheat detection system based on player move strengths and prior games. Chess.com, the most famous online chess software, still suffers from this.

We decided to pivot because we needed an expensive betting license.

We relaunched as Chess MVP after deciding to focus on chess learning. A platform for teachers to create chess puzzles and teach content. Several chess students used our product, but the target market was too tiny.

We chose to quit rather than persevere or pivot.

BodaCare (Insure Tech)

‘BodaBoda’ in Swahili means Motorcycle. My Dad approached me in 2019 (when I was working for a health tech business) about establishing an Insurtech/fintech solution for motorbike riders to pay for insurance using SNPL.

We teamed up with an underwriter to market motorcycle insurance. Once they had enough premiums, they'd get an insurance sticker in the mail. We made it better by splitting the cover in two, making it more reasonable for motorcyclists struggling with lump-sum premiums.

Lack of capital and changing customer behavior forced us to close, with 100 motorcyclists paying 0.5 USD every day. Our unit econ didn't make sense, and CAC and retention capital only dug us deeper.

Circle (Social Networking)

Having learned from both product failures, I began to understand what worked and what didn't. While reading through Instagram, an idea struck me.

Suppose social media weren't virtual.

Imagine meeting someone on your way home. Like-minded person

People were excited about social occasions after covid restrictions were eased. Anything to escape. I just built a university student-popular experiences startup. Again, there couldn't be a better time.

I started the Android app. I launched it on Google Beta and oh my! 200 people joined in two days.

It works by signaling if people are in a given place and allowing users to IM in hopes of meeting up in near real-time. Playstore couldn't deploy the app despite its success in beta for unknown reasons. I appealed unsuccessfully.

My infrastructure quickly lost users because I lacked funding.

In conclusion

This essay contains many failures, some of which might have been avoided and others not, but they were crucial learning points in my startup path.

If you liked any idea, I have the source code on Github.

Happy reading until then!

Yucel F. Sahan

Yucel F. Sahan

3 years ago

How I Created the Day's Top Product on Product Hunt

In this article, I'll describe a weekend project I started to make something. It was Product Hunt's #1 of the Day, #2 Weekly, and #4 Monthly product.

How did I make Landing Page Checklist so simple? Building and launching took 3 weeks. I worked 3 hours a day max. Weekends were busy.

It's sort of a long story, so scroll to the bottom of the page to see what tools I utilized to create Landing Page Checklist :x ‍

As a matter of fact, it all started with the startups-investments blog; Startup Bulletin, that I started writing in 2018. No, don’t worry, I won’t be going that far behind. The twitter account where I shared the blog posts of this newsletter was inactive for a looong time. I was holding this Twitter account since 2009, I couldn’t bear to destroy it. At the same time, I was thinking how to evaluate this account.

So I looked for a weekend assignment.

Weekend undertaking: Generate business names

Barash and I established a weekend effort to stay current. Building things helped us learn faster.

Simple. Startup Name Generator The utility generated random startup names. After market research for SEO purposes, we dubbed it Business Name Generator.

Backend developer Barash dislikes frontend work. He told me to write frontend code. Chakra UI and Tailwind CSS were recommended.

It was the first time I have heard about Tailwind CSS.

Before this project, I made mobile-web app designs in Sketch and shared them via Zeplin. I can read HTML-CSS or React code, but not write it. I didn't believe myself but followed Barash's advice.

My home page wasn't responsive when I started. Here it was:)

And then... Product Hunt had something I needed. Me-only! A website builder that gives you clean Tailwind CSS code and pre-made web components (like Elementor). Incredible.

I bought it right away because it was so easy to use. Best part: It's not just index.html. It includes all needed files. Like

  • postcss.config.js

  • README.md

  • package.json

  • among other things, tailwind.config.js

This is for non-techies.

Tailwind.build; which is Shuffle now, allows you to create and export projects for free (with limited features). You can try it by visiting their website.

After downloading the project, you can edit the text and graphics in Visual Studio (or another text editor). This HTML file can be hosted whenever.

Github is an easy way to host a landing page.

  1. your project via Shuffle for export

  2. your website's content, edit

  3. Create a Gitlab, Github, or Bitbucket account.

  4. to Github, upload your project folder.

  5. Integrate Vercel with your Github account (or another platform below)

  6. Allow them to guide you in steps.

Finally. If you push your code to Github using Github Desktop, you'll do it quickly and easily.

Speaking of; here are some hosting and serverless backend services for web applications and static websites for you host your landing pages for FREE!

I host landingpage.fyi on Vercel but all is fine. You can choose any platform below with peace in mind.

  • Vercel

  • Render

  • Netlify

After connecting your project/repo to Vercel, you don’t have to do anything on Vercel. Vercel updates your live website when you update Github Desktop. Wow!

Tails came out while I was using tailwind.build. Although it's prettier, tailwind.build is more mobile-friendly. I couldn't resist their lovely parts. Tails :)

Tails have several well-designed parts. Some components looked awful on mobile, but this bug helped me understand Tailwind CSS.

Unlike Shuffle, Tails does not include files when you export such as config.js, main.js, README.md. It just gives you the HTML code. Suffle.dev is a bit ahead in this regard and with mobile-friendly blocks if you ask me. Of course, I took advantage of both.

creativebusinessnames.co is inactive, but I'll leave a deployment link :)

Adam Wathan's YouTube videos and Tailwind's official literature helped me, but I couldn't have done it without Tails and Shuffle. These tools helped me make landing pages. I shouldn't have started over.

So began my Tailwind CSS adventure. I didn't build landingpage. I didn't plan it to be this long; sorry.

I learnt a lot while I was playing around with Shuffle and Tails Builders.

Long story short I built landingpage.fyi with the help of these tools;

Learning, building, and distribution

That's all. A few things:

The Outcome

.fyi Domain: Why?

I'm often asked this.

I don't know, but I wanted to include the landing page term. Popular TLDs are gone. I saw my alternatives. brief and catchy.

CSS Tailwind Resources

I'll share project resources like Tails and Shuffle.

Thanks for reading my blog's first post. Please share if you like it.