Tag: crypto

Top 4 Best Crypto and NFT Wallets in 2022 (and which one you should use)

When you purchase crypto for the first time, you will probably use an exchange.

While centralized exchanges have a number of benefits, you often do not have direct control over your digital assets when keeping them there.

Establishing your own self-custodial crypto wallet enables you to access dapps, transact in crypto, trade NFTs, as well as attain greater control and sovereignty over your money.

For this reason, its a good idea to move some of your crypto off the centralized exchange and into your own non-custodial wallet.

The next step is actually getting your first real crypto wallet setup. The good news is you can access the blockchain from any wallet provider. Think of the wallet as your portal to the world of web3. Yes, some portals are better than others, but at the end of the day they should all take you to the same place.

There are 4 wallets that stand out from the rest of the market as being the best:

The Winners for the Best NFT / Crypto Wallets:

Best All Around

Trust Wallet

  • Many assets hosted
  • Ultra secure
  • Large community
  • NFT Optimized
  • Free to use

Best for Beginners

Coinbase

  • Buy with $USD
  • Easiest on-ramp
  • Buy popular tokens
  • NFT optimized
  • Free to use

Most Secure

Ledger Nano X

  • Max security
  • Offline, cold storage of your cryptocurrencies.
  • No NFTs
  • Costs $149.00

Best for Ethereum

Metamask

  • Ethereum optimized
  • Compatible with ERC-721 and ERC-1155 NFTs
  • Most popular ecosystem
  • Explore layer 2 rollups and web3 dapps
  • Browser and Mobile compatible
  • Free to use

1. All-Around Best Crypto / NFT Wallet: Trust Wallet

Trust Wallet Specs:

  1. Custodial / Non-Custodial: Non-Custodial
  2. Hot or Cold? Hot
  3. Security:
    • Open Source
  4. Tokens Supported: Supports 53 blockchains and over 53 million different assets.
  5. Price: Free
  6. Ease of use:
    • Easy to use compared to most crypto wallets.
    • As with any new system, it takes some getting used to but there are many instructional guides available.
    • Includes a Dapp browser which lets you connect to various web3 tools and dapps.
  7. Devices Supported: Mobile crypto wallet
  8. Popularity:
    • 168,000 reviews in the app store
    • has a very active user community with forums and comments where community members discuss topics and answer questions.
  9. NFTs Compatibility:
    • Displays images of your NFTs readily, as well as enables you to send and receive them.
    • Only displays NFTs from within the Ethereum Ecosystem. Not compatible with Solana NFTs, for example.
  10. Additional Features:
    • Direct Deposit: you can buy crypto using your credit card.
    • Staking: you can earn 11% APR on quite a few different coins.
    • Multisig: No

Trust Wallet Overview:

For the general user, Trust wallet is great because it has a huge community, open forum discussion, and supports one of the largest number of different assets of any wallet on the market.

For the user looking to stake crypto, you can earn a sizable yield on your assets as well.

From owning some of the most well-known blue-chip assets, to buying and trading NFTs on the Ethereum Ecosystem, as well as browsing dapps within the web3 internet, the Trust wallet provides a well-rounded experience within crypto and NFTs for any user.

2. Best Beginner-Friendly Crypto / NFT Wallet: Coinbase Wallet

Coinbase Wallet Specs:

  1. Custodial / Non-Custodial: Self-custodial aka Non-custodial
  2. Hot or Cold? Hot
  3. Security:
    • Open Source
  4. Tokens Supported: The Coinbase wallet supports popular tokens like BTC, ETH, BCH, LTC, XRP, XLM, and DOGE, all EVM-compatible and ERC 20 tokens, as well as some stable-coins like DAI. (read more)
  5. Price: Free
  6. Ease of use:
    • User friendly and easy to learn.
    • There are many instructional videos on YouTube to help new users learn the ropes.
    • Supports dark mode.
  7. Devices Supported: Browser and Mobile crypto wallet
  8. Popularity:
    • 103,000 app store reviews.
    • One of the most popular and well-known crypto exchanges has a large team behind the product.
    • Publicly traded company
  9. NFT Compatibility:
    • NFTs supported and displayed.
    • ERC-721 compatible.
  10. Additional Features:
    • Direct Deposit: support credit / debit direct purchases for crypto. Easy cash on ramp
    • Staking: Earn interest via smart contracts.
    • Multisig: not supported
    • Anything else? view crypto price movements directly from the app.

Coinbase Wallet Overview:

One of the largest publicly traded crypto exchanges in the world has a non-custodial wallet available for download.

The Coinbase wallet is best for beginners because it enables you to link your existing account on Coinbase.com to your self-custody wallet in order to move some of your funds off exchange.

Having the big tokens supported like Ethereum and Bitcoin as well as Polygon is key. Although it doesn’t have as many coins available as other wallets, it is great for getting started.

As staking is supported, this is a good opportunity for beginners to learn a bit more about DeFi and experience earning some yield on their assets, if that is within your risk tolerance.

One of the downsides to Coinbase is that you can’t use it in some jurisdictions, like Hawaii.

3. Best Crypto Wallets for Security: Hardware Wallets (Ledger Nano X)

Ledger Nano X Wallet Specs:

  1. Custodial / Non-Custodial: non-custodial
  2. Hot or Cold Storage? Cold
  3. Security:
    • Most secure hardware / cold storage. Open Source. Keeping your coins and NFTs offline and protected.
  4. Tokens Supported: over 5,500 tokens supported
  5. Price: $149.00
  6. Ease of use: Setting up the Nano Ledger X takes less than 30 minutes.
  7. Devices Supported:
    • Mobile friendly via bluetooth connection. Bluetooth enabled, access your wallet via your phone.
    • Install up to 100 dapps at a time.
    • You also have access to the Ledger Live, a browser and mobile wallet that enables you to access your funds on the go, if you don’t want to bring your physical hardware wallet with you.
  8. Popularity:
    • Ledger wallets have thousands of reviews on Amazon.
    • There is a community on Reddit with over 86,000 members.
    • Ledger Academy provides intro information for people to learn about crypto, such as how to keep their assets safe.
  9. NFT Compatibility: does not display your NFTs
  10. Additional Features:
    • Direct Deposit: no
    • Staking: no
    • Multisig: no

Ledger Nano X Wallet Overview

Ledger, a French company, has a number of hardware products designed to store crypto and NFTs in the most secure way possible.

The only real difference among the Ledger line of products is the number of features like which assets are supported. From a security perspective, all hardware wallets are equally secure because they keep your assets offline, aka in “cold storage”.

Ledger Nano X is the most advanced, and robust wallet from the Ledger line of products.

Granted security is of top priority here, the Nano X supports the most tokens and has the best screen display for usability.

4. Best Crypto Wallets for Ethereum Ecosystem: Metamask

Metamask Wallet Specs:

  1. Custodial / Non-Custodial: non-custodial
  2. Hot or Cold Storage? Hot
  3. Security:
    • Most popular wallet to use in the Ethereum ecosystem, enabling you to connect to web3 dapps as well as EVM powered networks such as Polygon and Optimism. Open Source. Your coins and NFTs are easily accessible.
  4. Tokens Supported: all ERC-20 tokens and EVM compatible NFTs (ERC-721 and ERC-1155)
  5. Price: Free
  6. Ease of use: Quick setup, many tutorials online as well as instructional how-to’s in the Metamask support site. As with all self-custodial wallets, make sure you store your private key in a safe, secure location.
  7. Devices Supported:
    • Browser and Mobile enabled. Access your wallet via computer or your phone.
  8. Popularity:
    • Most popular web3 wallet to date with more than 21 million active users.
    • Large Metamask community with forums and more.
  9. NFT Compatibility:
    • Displays your NFTs on mobile, but the functionality could be improved.
    • As the NFT display system is not optimized, Metamask users often find themselves going to OpenSea or Quixotic to view their NFT portfolios as opposed to the wallet display.
  10. Additional Features:
    • Direct Deposit: yes, via credit card, however transaction fees can be high.
    • Staking: no
    • Multisig: no

Metamask Wallet Overview

Metamask, an open-source software wallet built by Consensys, is by far the most popular wallet by user count in web3 as of 2022.

The wallet is focused on crypto and NFTs that leverage the Ethereum protocols, ERC-20, ERC-721, and ERC-1155. Additionally, the ability to add Ethereum Virtual Machine networks to your wallet makes bridging to layer 2 rollups easy and user-friendly.

For people that want to explore the emerging world of web3 decentralized applications (dapps), using a Metamask wallet is the way to go.

Crypto Explained in Under 200 Words: Blockchain-as-a-Currency

Crypto Explained in 156 words

The idea of cryptocurrency is not super novel – digital currency has been used in video games for decades.

Before blockchain, in-game currency never had real value because someone could just copy and paste the code, and counterfeit money would be undetectable.

Similarly, when transacting in cash with $USD, the US mint has made our dollar bills unique and difficult to forge, although someone could still attempt to pay you in counterfeit currency.

Before cryptocurrency, digital currency did not have value in the real world.

Crypto is Blockchain as a Currency

Ideally, money is difficult or impossible to counterfeit. Fortunately for cryptocurrencies like Bitcoin, Ethereum, MATIC, and Doge, counterfeit is programmatically impossible.

In the 2009 Bitcoin White paper, the counterfeit money problem was solved (dubbed the “double spend problem”) was solved, and cryptocurrency was invented.

The paper details highly technical cryptography enabling Bitcoin – the first cryptocurrency – to serve as the future method of exchanging value on the internet.

Bitcoin is simply a magical currency that sits on top of the more elusive technology called blockchain.

Go bankless and get a self-custodial crypto wallet:

5 NFT Projects Worth Holding Long-Term

One of the hottest trending topics on the internet over the last few months has been NFTs.

not investment / not financial advice. do ur own research.

NFTs are digital collectibles that usually give the owner some sort of exclusive access – whether to artwork, discord groups, or even in-person events. Anyone can create and launch an NFT, in the same way that anyone can start a business and sell a product or service, but with NFTs, the underlying value of the asset is based on rarity, utility, and social hype. Those who want to be a part of a niche community are able to prove their ownership by having the NFT.

While any industry experiencing exponential growth will attract questionable (i.e. scam) projects, those of us who are long-term bullish on NFTs and crypto focus on the fundamentals and maintain ownership in NFT projects with competent teams and strong communities.

But market optimism may fade in the future; as the hype-cycle predicts, the peaking highs are often followed by steep cliffs.

My involvement with NFTs over the last few months has been complicated. I’ve been largely focused on my day job and, when the waves are good, sneaking out to surf while trying not to forget about my responsibilities. Investing has always been a long-term play and something I don’t feel the need to make changes to very often. Besides, everyone in the Ethereum community is patiently waiting for the Merge.

My NFT Plays:

As always, NONE of this is advice, guidance, or suggestions. Please don’t take anything here as investment advice and always do your own research.

The seven NFTs cost me $5,766.92 – and, according to estimates based on floor price, I’ve lost about $505.98 on paper when you include transaction fees.

Despite losing money in some areas, the projects below are the ones I’ve chosen to hold for the long term. Whether that means during a bear market or bull, I believe in these projects for the reasons I’ll share below.

That being said, its time to shill some NFTs:

1. Surf Punks NFT

After hearing about an NFT that gives holders access to surf sessions at wave pools around the world, I was interested. Seeing Koa Smith post something about it on Instagram as well as involvement from YouTubers like Nathan Florence made me realize there was a significant amount of hype behind the project.

Given that this would be my first NFT and mint was happening the following day, figuring out how to move funds to Metamask was a challenge of its own.

My initiation to the NFT game became hard-won when the exchange wouldn’t let me move funds. Familiarizing myself with the intricacies of web3 wallets via trial and error, I finally secured the 0.15 ETH for mint plus extra for transactions fees.

After minting surf punk 246 for 0.15 eth pre-reveal, I later purchased my second Surf Punk, number 273, for 0.69 ETH. The advantage of owning two Surf Punks is that you can bring a friend to events.

Months later and @TheSurfPunks community has been growing at a pace that feels organic. I’ve met and surfed with other holders in Hawaii, hosted Twitter spaces and spoken with the founder Andre, and the Surf Punks treasury has reserved the entire Waco, Texas wave pool for a private holder-only event in March.

surf punks nft

2. Ranchy Rednecks

Twitter Spaces definitely become a source of edu-tainment about NFTs for hundreds of people every day including myself. One evening in December, during the Late Night Degens Twitter space, 3LAU, Steve Aoki, and like 500 other people helped 13 year old Nick sell out his NFT project in 2 hours.

The excitement that everyone had during that Twitter space was too much to not want to be part of it. So I decided to get in at mint price. Unlike my Surf Punks mint, I elected to mint two of these from the beginning.

I believe that purchasing two or three of an NFT in which you have conviction is a better move than buying just one because if it pops, you’re going to want to sell one to take profits and still be a part of the community. Owning more than one allows you to do that.

ranchy rednecks nft

3. Ethereum Name Service (ENS) Names

After I learned that the .eth extensions would serve as your web3 username and wallet address, I immediately needed one.

As someone who builds websites and is a proponent of owning your own domain name / internet identity, the vision of ENS really makes sense, similar to the .com top level domain names of the traditional internet.

I purchased two ENS:

  • Epigenome.eth – after doing cancer research in college and majoring in chem, I believe in epigenetics as one of the key industries to help cure diseases and even extend human life one day.
  • LNR.eth – means love n respect; 3-letter ENS names are quite rare. With only 17,576 combinations, there’s a good chance that the 3-letter ENS names become more valuable as more people are onboarded to web3.

The way it works is that users pay to register and extend registration of the ENS name. Prices are currently set at $5/year for names 5 characters or longer, $160/year for names 4 characters in length, and $640/year for names 3 characters in length.

I do believe that ENS names will become much more valuable as web3 gains traction and becomes more ubiquitous – like many areas of web3, we’re still so early.

Additionally, ENS Domains were launched April 2017 – before Curio Cards and even CryptoPunks. Historical NFTs – that is, those first few NFT projects between 2015 and 2019 – are more valuable to some people because they were first and are thus are more original, more authentic, and more rare.

ENS is undoubtedly an OG NFT and depending which one you own, may become super valuable some day.

The floor price of various ENS names on OpenSea is around 0.006 eth as of 3/13/22, with sales in the last day of as much as 1 ETH.

Purposefully under-estimating the floor price as 0 in my Spending History Table at the bottom provides a realistic viewpoint and helps ensure I don’t over-inflate my own expectations of the portfolio.

4. Kooks NFT (number 69)

This NFT is unique in that it was a whitelist gift, and there was no cost or transaction fees associated with acquiring it. Additionally, it is the only NFT on the Polygon Network that I own

@KooksNft is a smaller project right now, but I was able to meet the founder during a Twitter Spaces event that I hosted and he growth of the NFT space means Kooks could serve a valuable position as helping educate people on surf etiquette and respecting the ocean.

5. Full Send Metacard

The Nelk Boys prank videos have been going viral across social media for years. Kyle’s candidness and ability to go off-script is a skill that few creators have.

Boasting 7.27M subscribers on YouTube, watching the Nelk Boys brand grow, improve the quality of the content, form partnerships with the UFC, and finally launch an NFT has been truly incredible. After bringing UFC owner Dana White onto the podcast, Dana is now a Metacard holder which is honestly so sick.

I’ve been following these guys on Instagram and YouTube but once I heard about their NFT launching, I knew that I had to jump on board.

Since I was not on the white list, my initial plan was to purchase one on secondary between the time of whitelist and the time of public sale.

I needed to think strategically.

With over 200,000 Discord members, the project was bound to sell out immediately and so the chances were almost zero that I would be able to get a Metacard during public sale.

During the Metacard minting event, with so much hype and website traffic, OpenSea CRASHED which made it impossible to purchase on secondary there.

At this point, the only way to get a Metacard was to venture into the web3 alternative exchanges – basically the real wild wild west of the internet, where you really have to watch out to protect yourself from getting scammed or having your assets stolen.

The risk of doing this is that you could easily end up buying a fraudulent NFT if you don’t verify that the smart contract and addresses are legit. After digging into Etherscan block explorers, downloading CSV files, and matching addresses, I made sure that I wasn’t about to pay for something fake.

I found a legit Metacard on secondary BEFORE the public sale started and successfully paid for and transferred it to my wallet.

With Full Send gyms on the horizon and new hilarious videos dropping every week, I couldn’t be more stoked for the future of Metacard community.

If you haven’t seen @KyleForgeard and the Nelk Boys’ YouTube videos, look them up immediately. Pranks and comedy is valuable for everyone, because we all need to laugh.

I’m still diamond-handing all of these to the moon.

Did I spend too much money on NFTs, or is this simply a healthy diversification of funds into a risky yet potentially exponential asset class?

You can analyze my spending history table below for yourself.

I’d also be curious to hear how you think NFTs will play a role in peoples’ lives over the next 3-5 years. Share a comment at the bottom and let me know what you thought.

Spending History Table (via estimates)

Playing Conway’s Game of Life on StarkNet

Conway’s Game of Life is a simulation-based computer game where life-like structures emerge from the rules governing movement of the squares on screen.

From such simple rules, the Game of Life the entities on screen behave with completely unpredictable and complex interactions.

A basic, web2 version of the game can be played at the two links below:

There are also a number of mind-blowing YouTube videos on this type of thing, where “emergence” occurs from particle motion after basic rules are codified. [1]

To play the Game of Life on the StarkNet platform, visit the following link: https://www.gol2.io/

In order to play the game on StarkNet, you need a Argent X wallet. Fortunately, Argent X is pretty easy to setup as a browser extension. [2]

Since the game is new and currently in Alpha development, I used the Goerli test net to try the game for the sake of experimentation, because it does not feature live transaction data.

Game of Life on StarkNet Goerli Testnet

Conclusion

I did notice that transactions unfortunately take quite a long time to process.

While the game is interesting and it’s exciting to see new developments on Ethereum Layer-2 scaling solutions like StarkNet, I’m not sure that featuring this particular game on a blockchain is worthwhile.

Since evolution data doesn’t need to be stored and the game is really just for entertainment and viewing the progress of the simulation overtime, users who are curious about the Game of Life are better off trying it in the web2 versions I’ve shared above.

Sources

  1. https://www.youtube.com/watch?v=makaJpLvbow
  2. Consensys blog post: https://consensys.net/blog/cryptoeconomic-research/layer-2-and-scaling-solutions-march-2022-week-1/

The 8 Greatest Podcasts on Crypto, NFTs, and Web3 for 2022

Podcasts are one of the easiest ways you can learn more about crypto, NFTs, and blockchain because you can listen passively while doing something else.

Here are the best crypto podcasts that you will find:

The Daily Gwei

the daily gwei ethereum podcast about crypto

Anthony Sassano’s consistency in publishing this podcast about the Ethereum Ecosystem is unmatched – I don’t believe there’s another show that happens as regularly as the Daily Gwei. With episodes coming out at least every weekday, I’m thankful to be able to rely on this podcast for my daily dose of alpha. Additionally, Anthony Sassano does an excellent job of articulating the value proposition for Ethereum in a way that non-technical users can understand.

Where to start: start with the most recently published episode. This show is another daily-update style show, covering what’s happened in the last day in the Ethereum ecosystem.

Bankless

bankless podcast icon about crypto, focused on ethereum ecosystem

David Hoffman and Ryan Sean Adams cover everything crypto, with a focus on the Ethereum ecosystem. The “Bankless” movement suggests the narrative that humans should have custody over their private keys, without 3rd party centralized intermediaries. The show also has YouTube videos for people who enjoy that format more.

Where to start: There are so many incredible episodes that you could honestly just pick one and dig in. Having hosted Vitalik on the show on multiple occasions, you could always start there. I also highly recommend the episode with Coinbase CEO Brian Armstrong. Lastly the “Ultra Scalable Ethereum – Modular vs. Monolithic Blockchains” episode was particularly enlightening. This is one episode you absolute must hear if you care about the future of blockchain scalability.

Modern Finance

modern finance is a podcast that focuses on crypto's impact on finance

Internet legend Kevin Rose focuses on crypto and how it relates to the future of finance broadly.

Where to start: The episode with the Bankless guys was top-notch. Unfortunately the episodes are not published too regularly on the show, but when something is published, it is worth a listen. I’m looking forward to going back and listening to the episode with the Brave Software CEO, Brendan Eich, as well as the episode with Gary Vaynerchuk.

Into the Ether

into the ether ethereum crypto podcast

Eric Conner and Anthony Sassano cover updates from Ethereum overall.

Where to start: given that the episode covers current events and timely updates, I would just listen to the most recent episode!

The Defiant – Defi Podcast

defiant podcast focusing on defi, crypto, and blockchain broadly.

Camila Russo brings builders and users within blockchain technology and DeFi onto the podcast and does a really good job of asking the tough questions.

Where to start: the episode with Vitalik Buterin was particularly interesting, Camila did a great job of asking devil’s advocate style questions and we get to see how Vitalik responds.

DeCent People

decent people, a podcast covering decentralized applications featuring many crypto experts.

Matthew Leising does a great job of bringing Ethereum experts onto the show and digging into not only the projects they’re working on, but also a contextual background of their lives and how they got started.

Where to start: The conversation with Meltdem Demirrors was the first episode I heard, and it was really interesting hearing about her background in bitcoin, and her story about testifying in front of congress.

Up Only: Chats with Crypto Experts

up only, a podcast featuring crypto experts and whales

Cobie and Ledger host a show every so often where they get together and ramble on all things crypto. Both Cobie and Ledger do a great job of keeping the conversation candid and unscripted, and don’t hold back. It would be great if podcast episodes were released episodes more often, but regardless, the content is always solid.

Where to start: Anytime the founder of Ethereum appears on a podcast to share his ideas, its worth a listen. In addition to having a wide-ranging discussion about the internet and future of crypto developments, Vitalik shares his thoughts on anti-aging and life extension.

Proof

proof, a podcast covering NFT projects

Kevin Rose focuses specifically on NFTs and artwork on the blockchain, bringing artists, collectors, and curators on the show to talk about all things non-fungible.

Where to start: I enjoyed the Particle Collection episode and hearing about the Banksy painting being fractionalized and sold as 10,000 individual pieces. Despite my best efforts, I was not able to get access to mint a Banksy Particle. Still a great show, though.

How to Bridge, Swap and Wrap Crypto on Ethereum and Polygon Networks

Overview of Bridging, Swapping, and Wrapping tokens on Ethereum Mainnet and Polygon Mainnet

After familiarizing myself with transacting in ETH using the Metamask wallet, I wanted to try a few things on Polygon.

Unfortunately, I made few mistakes and almost lost $375 worth of Ethereum.

Not a life-changing amount of money, but still would have been a bummer to lose funds.

Thankfully, I was able to locate all of the funds after doing my due diligence to understand how the Ethereum-to-Polygon network transactions work.

I’ll share what I learned – but first, the TLDR:

TLDR: Wrapping and Swapping happen between tokens on the same blockchain network. Bridging means you are switching your funds from one blockchain to another.

etherescan transactions
my transactions in question, via etherscan

Swapping ETH to MATIC

When you want to transfer ETH into other tokens, you use a process called “swapping”. During Swapping, your funds stay on Ethereum Mainnet but they are transferred to a different token.

Uniswap is a popular tool that allows you to transfer ETH to another token on the Ethereum Mainnet Network.

When you want to swap a token from ETH to something like Polygon / Matic, you’re going to end up with the MATIC token on the Ethereum Mainnet network after paying your gas fees.

Initially, however, the token might not show up in your wallet (this is what happened to me). I thought I lost my tokens because I simply didn’t see them there, and mistakenly thought my funds were lost completely.

In order to fix this, you have to click “Import Tokens” in your wallet. Search for MATIC, and select the one that says “Matic Network Token (MATIC)”.

import tokens on matic

You should then see the value of the Matic that you swapped displaying in your wallet.

Wrapping ETH to WETH:

OpenSea gives users the two options:

  1. Bridge Ethereum to Polygon
  2. Wrap Ethereum to WETH
ethereum and polygon options to bridge or wrap on opensea

Bridging processes are fundamentally different – more on that in the next section.

Wrapping means you are converting ETH to WETH on the Ethereum Mainnet network. You are not switching blockchains.

When you select “Wrap” and input the amounts, you will end up with WETH on Ethereum Mainnet. It should auto-display in your wallet without you having to do anything. Pretty easy.

Bridging ETH to Polygon

Bridging ETH to Polygon means you are moving funds from one blockchain network to another (off of Ethereum Mainnet and onto Polygon Mainnet).

This is fundamentally different than Wrapping and Swapping because you are literally changing blockchains.

When you bridge, you also end up swapping or wrapping tokens on the back end. ETH does not exist on the Polygon Mainnet blockchain – only WETH (wrapped Ethereum).

What does exist on Polygon Mainnet is WETH. When you select “Bridge to Polygon”, you end up with WETH bridged to Polygon Mainnet.

When you Bridge, because your funds are moved off of the Ethereum Mainnet blockchain, they might not show up in your wallet.

This is where I mistakenly thought I lost my funds the second time!

To fix this, you need to add the Polygon Mainnet network to your wallet.

Using a tool like Chainlist makes it easier. Go to the website, connect wallet, search for Polygon Mainnet, and click “Add To Metamask”.

Once its added, switching between Ethereum Mainnet and Polygon Mainnet is possible.

ethereum mainnet and polygon mainnet

When you click Polygon Mainnet, you should see your bridged funds displaying in WETH – in my case 0.055 worth, below.

Once you bridge to another blockchain, you can swap and wrap different tokens on Polygon Mainnet just like you can on Ethereum Mainnet. Uniswap enables this on the Polygon blockchain too.

On OpenSea, you can transact with WETH on Polygon, but not with MATIC.

Just don’t forget to check your wallet and make sure you’re on the right network!

matic and weth balance on polygon mainnet
Notice that the balance of MATIC on Polygon is 0 – its all in WETH.

What do to if WETH is not showing up on your wallet:

If you switch the the Polygon Network after depositing WETH into your Polygon wallet, sometimes the tokens are hidden, and won’t initially show up.

This can also happen if you disconnect your Metamask wallet from your browser and then re-connect.

But Don’t worry! Your funds are still there, they’re just hidden.

To fix this, simply click Assets, then click “Import Token”, and paste the WETH token address into the “Token Contract Address”.

import WETH token on Polygon Mainnet

Don’t forget to double check and verify that you are using the correct token contract address. Refer to Polygonscan if in doubt, or the official Polygon Docs. We’re going to be using WETH-POS.

When you paste the Token Contract Address in, it should auto-populate the Token Symbol (WETH) as well as Token Decimal, 18.

Click Add Custom Token, and it should work!

Moment of Zen:

Crypto is risky. Blockchain is the wild wild west of the internet – there’s not really anywhere to go for help if you make a mistake.

The beauty of owning your private keys means that you have control over your funds.

The downside is that if you end up losing those funds, there’s really no one to blame but yourself. If I lost my funds, it would have been my own fault, and there’s not a bank to help recover anything.

In hind-sight, the funds were never really at risk of being gone forever, I simply didn’t know how bridging and swapping worked.

I should have educated myself because a lot of blockchain processes are counter-intuitive.

Crypto finance is different than the traditional banking that we’re all used to.

There are prerequisites and important steps to be taken to ensure the protocols line up and that the transactions go through smoothly.

Lesson learned: next time I try something new or experimental in crypto, I’m going to watch a few videos, read the documentation, and educate myself BEFOREHAND.

Making mistakes is part of the crypto learning experience. Fuidance of friends from time to time has certainly helped, but there will always be some trial and error while experimenting in the world of crypto.

Should You Hold More NFTs or Crypto Long Term? Which is more likely to go up?

not investment advice, do your own research, etc.

While it’s difficult not to roll your eyes the idea of a million $$$ dollar jpeg, there is a special shift happening that will fundamentally change the way that humans behave on the internet.

Crypto vs. NFTs as investments – some context:

At their best, cryptocurrencies like Ethereum have gained notoriety and traction as development platforms for blockchain applications (aka dapps).

At their worst, the ICO mania has seen many cryptos pump to extremely high valuations, to later crash back to pennies after early investors dump their holdings (aka pump and dump schemes).

NFTs, on the other hand, haven’t been around as long as Bitcoin or Ethereum. Even an NFT from as recent as 2018 is considered historical and hence more OG by groups of self-proclaimed “NFT Archaeologists”. Still, we haven’t yet seen a true bear market in the space just yet, and only time will tell if these hypothesis will remain plausible.

Regardless, the steady value accretion among communities like CryptoPunks and the Bored Ape Yacht Club provides evidence that NFTs are in fact more than just overpriced .pngs.

Wherever a person chooses to invest, one thing is for sure: NFTs and crypto are risky, and you can lose the money you put in.

Whether you should allocate more of your investments towards crypto or NFTs is dependent upon your own situation and investment goals.

That being said: NFTs and crypto have both had huge price swings in recent months. So, which might be a better investment – crypto or NFTs?

Why might a cryptocurrency like Ethereum be a better long term investment than an NFT?

As cool as NFTs are, there is a high chance they will not outperform a cryptocurrency such as ETH.

Most NFTs are built and hosted on top of the cryptocurrency protocols within the Ethereum ecosystem. Although there are NFTs built on other chains like Solana or Tezos, the largest market share by far sits on Ethereum.

Because that Ethereum powers the majority of the NFT market as a development platform and smart contract programming language (Solidity), owning ETH could feel safer than owning any one individual NFT.

After all, platforms tend to be accrue more value than the sum of all the individual items they support.

Developers are actually building new products and applications on top of the Ethereum Virtual Machine, which inherit the security and decentralization protocols of Ethereum itself.

Another property that makes Ethereum unique is that the asset is burned during each transaction, via gas fees. This reduces supply making ETH progressively more scarce as a result. This decrease in supply is one of the key tenets surrounding the ultrasound money movement.

Ethereum also has a strong development community.

The most significant upcoming item on the dev roadmap is the Merge, in which the Ethereum consensus mechanism will transition from proof-of-work to proof-of-stake. This means that new blocks are validated by nodes that have staked their ETH, instead of by doing energy-intensive computations.

Once Ethereum transitions to proof of stake, owners will be able to earn interest on their staked ETH, which could further drive the charts up and to the right.

The downside of purchasing NFTs

Given the large amount of questionable NFT projects he risk / reward ratio may not be there for NFTs. Extremely high fees mean your ETH stack is dwindling every time you make a purchase.

NFT markets are unpredictable, yet there are few sound and known fundamentals that back them up as an investment. They’re largely focused around hype, which whales are involved etc.

There is a lot that goes into deciding how to invest and which project to put your eggs into, finding high-ROI investments is an art as well as a science.

An investment portfolio is like a bar of soap. The more you handle it, the smaller it gets.

Does it make sense to own NFTs as a part of your crypto portfolio?

In my view, NFTs should not be held as investments, but for FUN and for the community.

Although NFT value increases can be quite unpredictable, a strong community is a good sign.

If you choose to hold an NFT, take your time, do your research, and find an NFT project with real world utility.

NFTs give you the opportunity to become part of a group that is focused around any specific thing.

One sign of legitimate community within an NFT project is the willingness for the founder as well as active holders to be doxxed and in the public eye, as well as seeking to build community for the long haul.

One thing that I always look for is whether or not there are in-person events or meetups happening within the community and among members from different regions around the globe.

Do the NFT holders know each other in real life?

That being said, being a member of an NFT community can be valuable because it is just fun.

Its like joining a fraternity or sorority in college, playing competitive club soccer, or joining the varsity wrestling team.

NFTs create groups of like minded individuals with stake in the focus area.

Diminishing returns: Once you purchase a few NFTs and join a few different communities, any future NFT purchases may only slightly (if at all) increase the amount of value you get from being part of the community.

Because of this, owning more than 1 NFT isn’t necessarily valuable unless you plan to flip it for profit.

Spreading yourself too thin: Being in a community means investing time and energy hanging out in discords, going on trips / attending events, and building relationships in that community.

A single person can only spend so much time. I feel that it is more impactful to be a dedicated member of a small number of communities rather than loosely tied to many different ones.

Sure, the NFT markets are fun to watch. Perhaps they’re worth keeping an eye on in case something truly special comes around that you’re dying to be a part of.

When I get the drive and conviction to own a specific NFT, I do so while making sure to maintain as much ETH ownership as possible.

Number going up is simply a by-product of being part of the group.

Looking ahead

Most of us aren’t building the future of the internet – that’s the job of software engineers and designers. But we are the ones that will be more affected by crypto and NFTs potential use cases – we are the ones who will actually use it.

From the content we consume, to how we communicate… from how we spend money, to the career paths we choose… if blockchain technology and its applications continue to advance, the world and our relationship with the internet will be extremely different in the years to come.

Regardless if you’re allocating more capital towards NFTs, crypto, or neither, when we take a step back and look at the larger impact of this technology on our society, we should feel lucky to be around during such an exciting time.

8 Reasons Your NFT Project Should Host Meetups In Real Life — this is how the Bored Apes did it.

NFT communities benefit from in person events

November, 2021- in the center of Manhattan, NYC – a huge NFT conference changed the crypto and NFT industry forever.

NFT.NYC is a yearly an in-person NFT conference.

It’s a big deal for a number of reasons, but in many ways, NFT.NYC 2021 was a catalyst that brought blockchain, crypto, and NFTs to a much larger percentage of the population.

The Crypto Punks, Bored Ape Yacht Club, and other NFT projects were brought into the spotlight and became known to the mainstream individuals.

Many people were motivated to invest in crypto, setup their first non-custodial crypto wallet, and mint or purchase NFTs because of all the action and excitement surrounding the conference.

bored ape party during NFT.NYC
BAYC party at NFT NYC source: twitter

The BAYC community stood out during NFT.NYC and has since grown exponentially.

We believe that the key reason for BAYC’s exponential growth and success was that the team hosted multiple parties, meetups, and events throughout the week of November 2-4, 2021.

In the months that have passed since the conference, the Bored Ape Yacht Club has gone nowhere but up and to the right, creating immense value for its NFT owners and community overall.

Since the conference, Bored Ape Yacht Club community and organization Yuga Labs have been hard at work.

A few of the big news headlines recently includes the recent launch of the $APE token airdrop, as well as Yuga Labs acquiring the Crypto Punks and Meebits from Larva Labs.

Did in-person meetups influence the Bored Ape Yacht Club’s immense success?

As of today, the Bored Ape Yacht Club is the number 1 NFT project.

While there were likely a few contributing factors, we cannot overstate the significance of in person meetups which catalyzed this growth.

We believe that in-person connections and networking among the BAYC community during and after the conference was a key reason that the sales prices have more than doubled recently.

In addition, there have been standout sales of millions of dollars for specific BAYC numbers.

bored ape NFT sales data april 2021 to january 2022
Figure 2: NFT.NYC was the catalyst in early November that resulted in a gradual increase in the value of Bored Ape Yacht Club NFTs. Source: OpenSea sales data.

The Bored Ape Yacht Club community is now a global network.

With 10,000 NFTs in the collection, the members of Bored Ape Yacht Club have the opportunity to meet up with local owners in their geographic location.

There have been in-person Meetups in Los Angeles, Atlanta, Amsterdam, and elsewhere.

Why do people join NFT communities?

Owning an NFT is not only a financial investment. Yes, you typically mint or purchase an NFT, and spend money in order to own it, yet owning an NFT is so much more.

Purchasing an NFT means you are joining a community of real people, a group of people larger than yourself.

When humans form groups, they create something that is greater than the sum of its parts. Group, tribe, club, and team formation is a key fundamental behind all human behavior.

BAYC party at NFT.NYC
Figure 3: Notice the Bored Ape posters displayed on the wall. source: https://www.inputmag.com/culture/bored-ape-yacht-club-nft-nyc-ape-fest

Being a member of a community is an investment of our time, effort, and energy.

Buying into a credible NFT project means you are deciding to become an active contributor to the community in some way.

When an NFT community has members / owners that are dedicated and genuinely want to build the community and contribute positive things, the community becomes more fun, better networked, and more inviting to new members.

Why should NFT communities connect in real life?

People crave genuine connection and interaction.

Having a big event on the a community schedule, even if it is just a few times a year, brings people together, gives them a reason to stay in touch, and creates purposeful interaction and networks.

We believe that the NFT communities which host in-person events create exponential increases in community value.

It helps on-ramp new users into the blockchain technology space, providing newbies a safe place to learn about crypto, NFTs, DeFi, wallets, and more.

Experienced members of the community can share wisdom and insights with those that are new to the arena.

And having that in-person connection helps people feel closer to those in the NFT community. Once you meet up with someone from your network in real life, that person becomes a friend, a part of your social circle, and you think about the entire project in a new, more realistic energetic light.

In-person NFT events help eliminate flippers and short-term holders from the community.

Internet hype from influencers with large following will pump up NFTs and get more people to buy them, but this type of increase only has short-term impacts.

Instead of making the community stronger, this type of hype only invites flippers and profit seekers into the Discords and Twitter spaces.

These short-term thinkers might even negatively impact the experiences of long-term dedicated community members.

I am all about long-term thinking.

Network value cannot simply be one-to-many, where a single influencer with millions of followers encourages many people to buy into a project.

Hype pumping does not benefit the community long-term, it benefits flippers.

What will sustain long term is when all members of the community can seamlessly access, and easily connect with all of the other members. Whether this is thru communication channels, Twitter DMs, Discord servers, or meeting up locally for coffee, beer, dinner parties, or business opportunities.

Which type of NFT community do you want to be a part of? What type of network sounds like the most fun and intriguing?

17 Free Tools to Analyze NFTs and Crypto Before Ape-ing in

This is never investment advice. Let me know what I missed, and what tools you enjoy using.

Etherscan https://etherscan.io/

Gas Tracker https://etherscan.io/gastracker

Gas Cost Estimator https://etherchain.org/tools/gasnow

Etherchain https://etherchain.org/

Icy tools https://icy.tools/

OpenSea https://opensea.io/

LooksRare https://looksrare.org/ – for when OpenSea servers are overwhelmed.

Token Trove: https://tokentrove.com/ another NFT marketplace

Rarible https://rarible.com/

NFT Stats https://www.nft-stats.com/

NFT Scoring https://nftscoring.com/trending Y-Combinator startup

Rarity Tools https://rarity.tools/

Proof of Attendance Protocol (POAP) https://poap.xyz/

Super Rare https://superrare.com/ – NFT marketplace focused on authentic art

Nifty Hype https://www.niftyhype.com/ – news and insights for NFT industry

Dapp Radar: https://dappradar.com/ – dapp rankings among various ecosystems on different chains.

Getting Started

Coinbase https://www.coinbase.com/

Metamask https://metamask.io/

General stuff

Coinmarketcap https://coinmarketcap.com/

Twitter / Spaces https://twitter.com/home

Discord https://discord.com/

PSA – grading services for trading cards IRL https://www.psacard.com/

Go bankless and get a self-custodial crypto wallet:

Why crypto game Sunflower Farmers is worth exploring

When something new and exciting happens in crypto, it is wise to take some time to at least explore it.

A hot new and explosively adopted project is not super rare nowadays in crypto, but nonetheless, they are hard to find because there are so many projects flooding the attention-sphere.

sunflower farmers

It is just hard to filter through everything and find the gems.

All too often, you hear about a new project just slightly too late, after the majority of the hype has been achieved and thus value has been realized.

So I set aside a few minutes at lunchtime today to get setup and try it out.

Coindesk described the game as “a simple resource-gathering game that uses blockchain transactions for in-game actions.”

Sunflower Farmers is a new crypto game built on the Polygon Blockchain.

When I heard of a new crypto play to earn game, I instantly thought of Axie Infinity.

A game that has established itself as a legitimate way to earn money, Axie Infinity gained popularity in places like Pakistan and the token increased in value by over 100X.

While we haven’t missed the boat with Sunflower Farmers, unfortunately, its unplayable right now due to game maintenance by the developers.

More on that later, but I’m still super bullish on the game overall and I do believe it will be a big deal at some point in the future, once they get some of the technical difficulties figured out.

Here’s why I’m optimistic on Sunflower Farmers.

Why I’m Bullish on Sunflower Farmers

Community: The support on Twitter and Discord appears quite positive.

Although the project does not have a ton of followers on Twitter, the engagement is solid. A lot of comments, a lot of discussion on each Tweet they post, etc. Same thing for discord.

The thing about crypto business world nowadays is that it is all about kindness, empathy, sharing, and community.

These principles are held in high regard in some of the most prominent communities such as Bored Ape Yacht Club and Crypto Punks, with everyone saying gm to each other, maintaining the mentality that “we all gonna make it”.

From my initial research, I feel that the Sunflower Farmers community embodies these characteristics.

Vision of the Developers / Team: The team behind the game is very vocal about the fact that the developers don’t control the token.

For example, there is apparently no pre-mine, and the game will be launched for free for the community – only requirement to play was a donation. A noble vision, as long as it works!

The game is also OpenSource and decentralized, and has had about 8 developers on GitHub help build it.

Its built on Polygon / Ethereum. So, it leverages Ethereum’s true security and decentralization while also enabling better scalability on Polygon.

SF’s roadmap for 2022 also looks solid.

Initial Buzz: SF made headlines on crypto Twitter on January 6th and 7th, 2022 after it overwhelmed the entire Polygon blockchain due to its popularity, increasing transaction fees to around $0.50.

Twitch – this is absolutely a game that could get big on Twitch. Although known for high-paced first person shooter games, there are plenty of creators on Twitch who have a solid niche following that play games with a silly, fun, and relaxing vibe.

Similarity to Farmville: The game’s playability looks similar to Farmville.

For those that remember, Farmville was a popular gaming app on Facebook during Facebook’s early days, around 2010 or earlier. It was a pretty big deal for a period of time.

SF seems to be positioning itself well, giving itself the potential to go as viral as something like Farmville did. Now that crypto is very much a real thing, there’s no reason that a silly and simple game like farmville couldn’t allow players to earn money.

Paired with play to earn and tokenization, SF seems to be enabling players to earn money in a unique way.

Sunflower Farmers is all about planting seeds, and harvesting crops. Crops are worth more than seeds. So you essentially spend money on seeds, which will then provide greater returns once the seeds grow into crops. It gets more complex, and I’d recommend reading about tokenization in the developer docs.

Gamework: Think about farming which, in real life, is difficult, back breaking labor.

We have a game that is simulating this difficult job that very few people would enjoy doing, and yet, people are playing this game largely for fun.

The processes in the game are all about simulating work that would be done in real life.

So, is it a game, or is it work? Difficult to say, but there are other games like this.

Animal Crossing, for example, is a game that gained a ton of popularity, especially as people were staying at home during the pandemic, etc. Animal Crossing is a game that has been described by some as simply “gamework”.

Gamework is a somewhat surprising and interesting phenomena – but these types of games often become extremely popular.

More on gamework the video below.

Anyways, back to Sunflower Farmers…

The game had a malicious attacker and is in maintenance mode

Unfortunately, when I logged back onto their website, sunflower-farmers.com, I was disappointed to see that the game was down.

Not only that, there was a message on the website that described how there was a malicious user who tried to corrupt the game, and so the developers had decided to move the game into “maintenance mode”.

This was extremely disappointing. According to discord, building a fix may take 4-6 weeks.

To play the game, apparently all you needed to do was simply go to the website and login by linking your Metamask wallet.

Easy enough.

Perhaps the time to build and develop the game will give the team time to build hype for the game, so that they’re even more ready for re-launch when that time comes.

Tokenomics

The game uses $SFF token and will apparently also offer NFTs.

According to the gaming docs, “the aim is to reward farmers who are early to the game and drive scarcity.” [1]

The Tokenomics documentation goes on to describe that “the earlier you start farming, the more you will be rewarded as the supply increases.” [1]

Basically, you plant seeds and can harvest those plants for more money than the seeds were initially worth.

In game strategy is somewhat complex, in this case, when you choose to plant is important. If a halvening event happens, or supply increases, this will affect the price and rewards you get for harvesting plants.

No mobile option?

I did notice, before my lunch break, that the game did not have a way for users to play on their mobile devices.

A mobile option is a MUST, and I will be sharing a few thoughts on this in the ideas section of the SF discord channel. Look for me in there, say what’s up if you see me in discord! I use the handle Espressoinsight everywhere.

The reason mobile is important is that more people use mobile devices than anything else…

In 2022, mobile is a must for any application, especially games.

Everyone carries their mobile device with them everywhere. And with the planting / harvest system of the game, I feel like the the gameplay itself lends itself to checking the game frequently, multiple times per day.

It is perfect model for a mobile game, similar to an idle oriented game like Clash of Clans.

The game has a Twitter account… If you’re reading this, tweet at them and tell them we need a mobile option.

What’s Next for Sunflower Farmers?

Hearing about another potential Play to Earn game in the cryptosphere, reading about it on the website and instantly became excited to play.

I know it will take time for the developers to work out everything, but I can’t wait for the game to finally be ready.

Given that this blog has such a low visitor count, I doubt anything I post here will have any impact on the hype of a project at all. But let this post serve as a flag in the ground – Sunflower Farmers will be HUGE.

Sources:

  1. Tokenomics: https://docs.sunflower-farmers.com/tokenomics
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