In the crypto space, grants fund projects, research, and development to advance blockchain technology, decentralized applications, and related ecosystems. Recently, more initiatives have been funded around creativity and marketing, as seen by Artizen and Octant. Matching grants are unique because they foster fundraising using a powerful economic incentive: the grantor will "match" the funds raised, typically up to a specified limit. In essence, matching grants are a financial instrument that can align the interests of both donors and recipients by amplifying resources, encouraging collaboration, and leveraging public attention to a project.

Once again, let’s imagine an art gallery seeking to showcase a groundbreaking exhibition. Matching Grants in this context would work like this:

A wealthy art patron says, "For every dollar you raise from the community, I'll contribute an equal amount, up to $50,000." This arrangement serves as a powerful incentive, encouraging the gallery to engage with local art enthusiasts and businesses actively.

In the world of philanthropy and fundraising, Matching Grants operate on the same principle. A donor—often a foundation or major benefactor—pledges to match funds a nonprofit organization raises, typically up to a predetermined limit. This approach doubles the impact of each donation and motivates the organization to broaden its donor base and intensify its fundraising efforts.

The beauty of Matching Grants lies in their ability to:

1. Amplify financial support

2. Encourage community involvement

3. Validate the organization's mission

4. Create a sense of urgency in fundraising campaigns

Thus, the world of matching grants can easily be likened to the collaborative nature of the art scene. Just like creators often work together to create better products or art pieces, matching grants unite various funding sources to amplify assistance for diverse projects. And much like different art styles, there are different kinds of matching grants:

• 1:1 Match | For every dollar raised, the grantor contributes the same amount

• 2:1 Match | Every dollar raised is matched with two dollars of the grantor

• Capped Match | A maximum amount of grants set by the grantor, independent of how much is raised

Another natural side-effect of participating in a matching grant is that if a grant seeker can raise matching funds, this signals their credibility and commitment because it demonstrates that they can engage stakeholders and mobilize resources. Seen from the perspective of a Grantor, matching grants might be a preferable way of supporting recipients because they see it as ensuring strong commitment and broad community support. Therefore, many organizations dedicated to the creative economy offer matching components, recognizing the power of collaborative funding to create more significant and meaningful impact.

If you want to learn more about how ALANAmagazine has been applying with Artizen for Matching Grants, go and read the full story here:

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It is important to remember that by embracing matching grants, artists and projects can create a more vibrant and engaging "exhibition" of their work, bringing together diverse supporters and resources to make their creative visions a reality. Matching grants in the Web3 world are particularly impactful because they provide financial assets and create a common sense of shared responsibility between artists, donors, and communities. Matching grants make it possible for Web3 projects to scale, reach broader audiences, and secure long-term viability while promoting creativity and innovation.

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This article was authored by Nils Otter for ALANA.

Generally, a grant is a financial award provided by an individual, organization, or government agency to a recipient, typically for a specific purpose, such as funding a project or research. Grants are a particular form of financial assistance aimed at supporting the recipient's efforts to achieve specific goals or for the provision of public goods. In contrast to loans, grants are non-repayable, but there is often an obligation to use the funds received for the specific purposes indicated during the application process. Unlike donations, which are usually given more freely and without any specific conditions, grants are typically awarded through a formal application process and come with conditions and requirements.

In the world of Web3, there are several platforms and communities that are known for giving out grants for a variety of purposes. Some examples include but are not limited to:

• Ethereum Foundation Grants Program
  This is one of the leading initiatives in the Web3 space, providing grants ranging from $10,000 to $500,000 for projects contributing to the Ethereum ecosystem.

• Gitcoin
  A decentralized platform that has become one of the largest and longest-running Web3 grant programs. It uses quadratic funding to support a wide range of projects in open-source software, Web3 community building, education, and climate solutions.

• Octant
  Octant is a platform developed by the Golem Foundation that enables users to lock GLM tokens (Golem's native ERC-20 token), earn ETH rewards, and fund projects they care about. It aims to become the first self-sustaining global public goods funding ecosystem that balances public goods and individual financial empowerment.

All of the above have their own unique twists when it comes to rewarding applying projects and donors at the same time. However, there are many more ways to receive grants. Currently, ALANA is applying for a “matching grant” via Artizen, but also blockchains often run their own grant programs, such as Optimism, Arbitrum, or Solana.

Important to note is that because in Web3, these grant systems are blockchain-based, they can use much better technology to guarantee a positive impact on the applying project and the ecosystem. Some vocabulary that is important to remember are:

• Quadratic Funding (individual article will follow soon)
  Quadratic funding is like a popularity contest where the number of fans matters more than how much each fan gives. It boosts small donations from many people, making them more powerful than a few big donations.

• Matching Funds (individual article will follow soon)
  Matching funds are like having a rich friend (often projects or interested third parties) who promises to chip in extra money for every donation you get. The more people donate to your project, the more extra money you get from this big pot of bonus cash.

• Retroactive Funding (individual article will follow soon)
  Retroactive funding is like getting a bonus for work you've already done instead of a promise for future work. It rewards projects that have already made a positive impact, encouraging builders to focus on creating real value first.

For the ALANAmagazine Artizen round, two of the above mechanisms apply: quadratic funding and matching funds. Combined, they are incredibly powerful tools for ensuring projects are rewarded, which create true impact and touch many people!

Now that you know how it works, join us in making history! Your support can skyrocket our impact in the Artizen grants round for ALANAmagazine. Here's your chance to dive into the exciting world of Web3 funding - it's easier than you think! Plus, we've got an amazing offer: mint an artifact and get the next digital edition of ALANAmagazine, and we'll send you a FREE physical copy of the AIR Edition. It's a win-win - you help us grow, and you get exclusive content in return. Don't miss out on this unique opportunity to be part of something big!

But for now, it is important to remember that in the crypto space, grants are used to fund projects, research, and development to advance blockchain technology, decentralized applications, and public goods. These grants are typically provided by blockchain foundations, DAOs, or crypto businesses to foster innovation and promote community growth.

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This article was authored by Nils Otter for ALANA.

Proof-of-Work: The Artisan's Craft

Metaphor: A Master Artisan

Imagine a master artisan creating a unique piece of art. This artisan must source rare materials, invest countless hours perfecting their craft, and face intense competition from other artisans. The process is laborious and requires significant resources—similar to how PoW functions.

• Energy and Resources: In PoW, miners (the artisans) compete to solve complex mathematical problems, expending substantial computational power and energy. This is similar to an artisan using rare pigments or intricate techniques that require time and skill.

• Security Through Effort: Just as the artisan's effort ensures the uniqueness and value of their work, PoW secures the blockchain by making it costly for malicious actors to alter transaction records. The high energy costs act as a deterrent against fraud.

• Current Use: Bitcoin, launched in 2009, is the most notable example of PoW. It has maintained its integrity through this mechanism for over a decade, despite criticisms regarding its environmental impact due to energy consumption.

Proof-of-Stake: The Fashion Designer's Collection

Metaphor: A Fashion Designer's Collection

Now, envision a fashion designer preparing for a runway show. Instead of laboring over each piece individually, they curate a collection based on their previous successes and the current trends in fashion. They stake their reputation on the quality of their designs.

• Staking as Investment: In PoS, validators (the designers) lock up a certain amount of cryptocurrency as collateral to participate in validating transactions. This is similar to a designer investing in high-quality fabrics upfront, betting on their collection's success.

• Random Selection: Just as not every designer gets to showcase their collection at every show, PoS uses a random selection process weighted by the amount staked. This means that those who invest more have a higher chance of being chosen but are not guaranteed selection.

• Efficiency and Environmental Impact: PoS is often seen as more sustainable than PoW because it requires significantly less energy. This parallels how modern fashion aims for sustainability by using eco-friendly materials and production methods. Ethereum transitioned from PoW to PoS in 2022, drastically reducing its energy consumption.

Both Proof-of-Work and Proof-of-Stake serve crucial roles in the blockchain ecosystem. Through the metaphors of an artisan’s craft and a fashion designer’s collection, we can appreciate the complexities of these mechanisms. While PoW emphasizes resource-intensive security similar to traditional artistry, PoS offers a modern approach that mirrors contemporary fashion’s focus on sustainability and efficiency. As blockchain technology evolves, understanding these base concepts will be essential for grasping its future trajectory and arising alternatives.

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This article was authored by Stella Achenbach for ALANA.

These fashion experts (validators) attentively examine the presented outfits (data) and model ID tags (hash). They are responsible for the authentication and integrity of the fashion show (blockchain), e.g., they monitor the models (blocks) and the exhibited outfits (data) to ensure they fit together and are genuine and not fake. If the experts are satisfied with the model`s walk on the runway, they signal (thumbs up) that this model will be next in line or added to the chain. But how can our experts be guaranteed to come to a unified agreement or common conclusion? Eventually, they might have different tastes, miss an outfit detail due to distraction (your mother calls), or simply do not trust each other. To agree to a standardized state of the runway (blockchain), they first must accept specific rules of the show (consensus mechanism).

To function properly, the decentralized network of computers (audience and fashion experts) that maintains a public blockchain (runway) must agree on the single state of the blockchain. This fundamental process is facilitated by the consensus mechanism, thereby eliminating the need for a central authority in the network. This decentralization is a key feature of blockchain technology, ensuring that all actors in the network have a consistent and verified copy of the ledger, much like all members of the audience seeing the same models, in the same outfits, in the same sequence.

In other words, the consensus mechanism is a crucial agreement that maintains the integrity and security of the decentralized platform (fashion show). Besides being a distributed agreement, consensus mechanisms are “fault-tolerant.” They will still operate even if some nodes act maliciously or fail (distraction of fashion experts). Another key characteristic of consensus mechanisms is the verification and validation of transactions (monitoring of models and outfits), i.e., ensuring all transactions are legitimate and added to the blockchain. The most common consensus mechanisms are Proof-of-Work, Proof-of-Stake, and Proof-of-Authority, but there are several more types of consensus mechanisms.

Good to remember is that the term consensus mechanism denotes the set of protocols, incentives, and ideas that are implemented to enable a network of nodes to agree on the common state of a blockchain. Ethereum, for example, uses a Proof-of-Stake-based consensus mechanism. Participants must lock up capital (“stake”) that is exposed to a set of rewards and penalties. This creates an incentive structure that encourages every single staker to run honest validators and punishes those who are distracted, which ultimately leads to crypto-economic security (and the extremely high cost of an attack attempt on the network). The choice of the consensus mechanism is a very important decision in the design and operation of any blockchain since it will also impact a blockchain's scalability, security, and degree of decentralization.

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This article was authored by Nils Otter for ALANA

Imagine two bustling marketplaces in a city, each with its own unique character and offerings. One is a large, well-organized mall, with security guards at the entrance and a central management team overseeing everything. The other is an open-air market with a huge variety of stalls run by individual vendors, each responsible for their own security and inventory. These two marketplaces are a lot like centralized and decentralized cryptocurrency exchanges. Let's dig a bit deeper!

Centralized Exchanges: The Mall

Centralized exchanges (CEXs) are like the mall in our analogy. They are run by a single company that acts as the middleman between buyers and sellers. When you want to trade cryptocurrencies on a CEX, you have to trust the exchange with your money and personal information. The benefits of using a CEX are similar to shopping at a mall. They offer a user-friendly interface, a wide selection of cryptocurrencies, and high liquidity. However, there are quite some downsides to using a CEX.

• While using your own wallet allows you to retain control over your private keys, the exchange still acts as an intermediary for trading. This means that you are dependent on their platform for executing trades, which can lead to potential issues if the exchange experiences downtime or technical difficulties.

• CEXs often require users to undergo Know Your Customer (KYC) processes. This means you must provide personal information and identification, which can compromise your privacy. Even if you use your own wallet, the exchange still collects data about your transactions and identity, potentially exposing you to data breaches or misuse of your information.

• Centralized exchanges typically charge higher transaction fees compared to decentralized exchanges (DEXs). These fees can accumulate, especially for frequent traders, impacting overall profitability.

• Due to regulatory compliance, centralized exchanges may restrict the availability of certain tokens. This limitation can prevent users from accessing a broader range of cryptocurrencies that might be available on decentralized platforms.

Decentralized Exchanges: The Open-Air Market

In our analogy, decentralized exchanges (DEXs) are more like an open-air market. They are built on blockchain technology and allow users to trade cryptocurrencies directly with each other without the need for a central authority. When you use a DEX, you remain in control of your private keys and funds at all times. This means you're responsible for your security, giving you more freedom and privacy. DEXs often have lower trading fees than CEXs, and they're less vulnerable to hacks since there's no single point of failure. They also align more closely with the decentralized principles of cryptocurrency.

The Future are Decentralized Exchanges

While CEXs and DEXs currently have their place in the cryptocurrency ecosystem, decentralized exchanges are becoming increasingly popular. Some of the benefits of using a DEX include:

• Retaining complete control over your private keys and funds

• Lower trading fees and reduced risk of hacks

• Increased privacy and censorship resistance

• Alignment with the decentralized principles of cryptocurrency

There are many great DEXs around, but since we are not taking sides, look at DeFi Llama to get an overview (check the “Category” columns to identify the use of a protocol). All DEXs offer a wide range of features and cryptocurrencies, making them a great choice for beginners looking to trade and interact with the decentralized finance (DeFi) ecosystem.

So while centralized exchanges may seem easier to use because they spend a lot of money on marketing, decentralized exchanges are becoming increasingly attractive due to their focus on user control, privacy, and alignment with cryptocurrency's core values.

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This article was authored by Stella Achenbach for ALANA

Once again, think about the metaphor of the decentralized art gallery:
When you lend your painting to the gallery and earn a share of the ticket sales, but your painting is locked up in the gallery for a set period, that`s like staking in DeFi. If you receive a special "Art Token" for lending your painting that represents your painting's value, and you can keep it, earn more rewards with it, trade it with other art lovers, use it to buy other artworks or services in the gallery, that is liquid staking.

Now, imagine another decentralized art gallery located outside the business district. There is no reason to go there unless you are a real hardcore art lover. But if you know that this is a “sister” art gallery of the original one, showing the same quality standard works of art from the original gallery, you might feel much more comfortable going there. As an art-loving person, you have much more confidence that when visiting this unknown art gallery, you can at least be sure you`ll see some great paintings. And as the owner of the original painting, now already in the possession of the special “Art Token”, you are free to decide that your painting is also shown at this second gallery.

By doing this, you contribute to the overall evolution of the art scene in your city. At the same time, there is a financial incentive to earn a share of the ticket sales of two galleries. In DeFi, this is called “liquid re-staking (LRT)”. At any time, you can trade your token back for your “Art Token” and subsequently to your original painting. Put in other words, re-staking involves staking assets (= showing paintings) on multiple networks or protocols (= different galleries) to maximize yield and utility (= 2-times sale). More economically speaking, it’s a form of capital efficiency because the same staked asset (= painting) can secure multiple networks (= supporting multiple galleries) simultaneously.

In sum, LRTs are like a traveling exhibition of art that combines two concepts. First, users (or painting owners) stake their assets in a primary staking protocol (lending their paintings to a gallery). Afterwards, they can decide to re-stake the issued liquid staking token (“Art Token” on hiking) in additional protocols or networks (different galleries), to potentially earn multiple rewards (entrance fees). Second, these tokens maintain the liquidity of the underlying staked assets (the painting is still owned and tradeable), allowing owners to trade or use them in other DeFi applications while still earning staking rewards (entrance fees).

Overall, liquid re-staking tokens (LRTs) represent a sophisticated financial tool within the crypto ecosystem. This novel system aims to provide liquidity and enhanced yield opportunities for staked assets.

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This article was authored by Nils Otter for ALANA

This time, we will take a closer look at the different layers of Blockchain ecosystems such as Ethereum. The Ethereum Blockchain Ecosystem is pretty versatile, and one of the most developed ones out there, and it will make for a great example. To keep the information flow easy, we will avoid metaphors this time around as they introduce unnecessary complexity to the topic.

Layer 1 or The Base Layer

Ethereum as a Layer 1 is the foundational blockchain itself, where all transactions are processed and validated. In the case of Ethereum, it operates using a Proof-of-Stake (PoS) consensus mechanism (we will get to this one soon), which was adopted in 2022 to improve scalability and reduce energy consumption. Layer 1 blockchains, and specifically Ethereum, come with the following benefits:

• Security: Layer 1 is highly secure due to its decentralized nature and extensive network of validators.

• Trust: As the original blockchain, it has a proven track record and is trusted by users and developers alike.

• Immutability: Transactions recorded on Layer 1 are nearly impossible to alter, ensuring data integrity.

But Ethereum still has some weaknesses, such as:

• Scalability: Layer 1 can process a limited number of transactions per second, leading to congestion and high gas fees during peak usage.

• High Costs: Transaction fees can become prohibitively expensive when the network is busy, which can deter users.

This is where, naturally, Layer 2 blockchains come in to save the day ✨.

Layer 2 = Enhancing Performance

Layer 2 solutions are built on top of Layer 1 (here, Ethereum) to improve transaction speed and reduce costs to compensate for Layer 1's weaknesses. They offload some of the transaction processing from the main blockchain, allowing for faster and cheaper transactions. This has the following benefits:

• Increased Scalability: Layer 2 can handle a much higher volume of transactions, significantly improving throughput.

• Lower Fees: By processing transactions off-chain, Layer 2 solutions can reduce gas fees, making it more affordable for users.

But even Layer 2 blockchains have their weaknesses:

• Complexity: Layer 2 solutions can introduce additional complexity, requiring users to understand how to interact with them.

• Security Trade-offs: While they maintain a connection to Layer 1 for security, some Layer 2 solutions may have different security models that could be less robust.

To name some Layer 2 solutions that you might have come across before:

OP Mainnet, Arbitrum, Polygon (MATIC), Immutable X, Base, zkSync, Loopring, Boba Network, Cartesi, StarkWare, Scroll, Linea, Metis, Zora and more.

Layer 3 = User-Focused Applications

Layer 3’s are still a fairly young invention and focus on environments for decentralized applications (dApps). This layer interacts with both Layer 1 and Layer 2 to provide user-friendly interfaces and functionalities. It encompasses the applications that users directly engage with, such as DeFi platforms and NFT marketplaces. Some recent and more known examples are DEGEN (built on Base) and XAI (built on Arbitrum).

Why Mulitple Layers Matter

The existence of multiple layers within the Ethereum ecosystem is crucial for addressing the blockchain trilemma: balancing security, scalability, and decentralization. Each layer plays a specific role, allowing Ethereum to maintain its strong security while improving scalability and user experience. This layered approach enables Ethereum to support a growing number of applications and users, fostering innovation and adoption in the decentralized finance (DeFi) space and beyond.

As you can see, this topic is better looked at without metaphors as the most important information to remember is the following:

Layer 1 solutions hold the key to a secure, trustworthy, and incorruptible base layer, while Layer 2 solutions improve user and builder interactions while Layer 3 may contribute more seamless user experiences for specific applications.

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When it comes to the different kinds of Blockchains, we can differentiate between four main types. This is not about deciding which is the better type but rather understanding that each type of Blockchain meets different requirements:

• Public Blockchains = Open Galleries

• Public Blockchains are like open art galleries where anyone can enter, view, and participate. Their structure aims to be fully decentralized, allowing anyone to join and contribute. Great examples of those types of chains would be Bitcoin and, for example, Ethereum. Some pros of this type are transparency, decentralization, and global accessibility.

• Private Blockchains = Exclusive Exhibitions

  Private blockchains are like exclusive art exhibitions, where only selected or specifically invited individuals can enter and view the artwork. Access is controlled, and participants are known entities. An interesting example here is Hyperledger Fabric, which is a private chain used by Walmart for supply chain transparency and traceability. Positive elements here are the efficiency and control of these Blockchains.

• Consortium Blockchains = Collaborative Installations

  Consortium blockchains resemble collaborative art installations, where a group of artists/ organizations works together to manage the exhibition. This type offers a balance between public and private. Energy Web Chain is a good example of a consortium Blockchain, as it allows multiple stakeholders in the energy sector to collaborate on energy trading and management. What stands out positively here are the shared governance and security aspects.

• Hybrid Blockchains = Versatile Art Forms

  Hybrid blockchains are like versatile art forms that combine elements of both public and private art. They allow for a mix of open and controlled access, enabling flexibility. Dragonchain is a good example here since it allows businesses to maintain control over their data while leveraging public blockchain features for transparency. Flexibility and controlled access are the main pro factors here.

Blockchains can be seen as distinct artistic mediums, each with unique properties and applications. Each has its own unique purpose and forms of application. Let’s take a look at different public Blockchains and how as well as why they could be described through distinct art mediums:

• Bitcoin = SculptureBitcoin is like a classic sculpture: solid and enduring, it represents the foundational piece of the digital and decentralized economy.

• Ethereum = Oil PaintEthereum is akin to oil painting—rich, versatile, and capable of intricate details, allowing for complex dApps and smart contracts.

• Tezos = Mixed MediaTezos is like a mixed-media artist, combining different techniques and styles while focusing on self-amendment and formal verification.

• Cardano = WatercolorCardano is like watercolor art—delicate and methodical, emphasizing research and gradual development.

• Solana = Digital ArtSolana is like digital art—fast, innovative, and designed for the digital age, appealing to a tech-savvy audience.

• Polkadot = CollagePolkadot is like a collage artist, combining various elements to create a cohesive whole, allowing different blockchains to interoperate.

• Avalanche = 3D PrintingAvalanche is like 3D printing—innovative and capable of rapid prototyping, allowing for the creation of custom applications and assets.

All of the named Blockchains have their distinct communities and their respective pros and cons. When deciding which is the “right” Blockchain for you or your project, there is usually not just one simple answer. Instead, you are in for a longer and deeper investigation in correspondence to your needs.

Knowing what you want/ need is key and will help a lot when making a decision. But especially as artists, we have the liberty to test out many different Blockchains and their respective layer 2 builds (e.g., Optimism, Zora, Base, etc.). But more about that in the next article.

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Fashion Show = Blockchain

Imagine a fashion show where each model represents a block in the blockchain. As the models walk down the runway, they are wearing outfits that represent the data or transactions being recorded. Each model has a unique ID tag, which is like the cryptographic hash that identifies each block in the blockchain.

Introducing All Participants

The runway represents the blockchain, where the models (blocks) are lined up in a specific order. As each model walks down the runway, they are added to the end of the line, creating a continuous chain of models (blocks).

The audience members represent the nodes or computers in the blockchain network. They are all watching the fashion show and can see the models (blocks) as they walk down the runway. Each audience member has a copy of the runway, so they can all see the same models in the same order.

The security guards represent the cryptography used in blockchain technology. They ensure that each model (block) is authentic and has not been tampered with. If a model tries to change their outfit (data) or their ID tag (hash), the security guards will stop them and remove them from the runway.

How It Works

Now, let's introduce the fashion experts who represent the validators in the blockchain network. These experts are seated in the front row of the audience, and they have a special role to play. As each model (block) walks down the runway, the fashion experts (validators) carefully examine their outfits (data) and ID tags (hash). They verify that the model (block) is authentic and has not been tampered with. If the fashion experts (validators) are satisfied, they give a thumbs up, signaling that the model (block) can be added to the chain. The fashion experts (validators) are essential to the integrity of the fashion show (blockchain) because they ensure that only authentic and valid models (blocks) are added to the chain. Their role is crucial in maintaining the transparency, security, and immutability of the fashion show (blockchain).

What’s The General Benefit

Let’s first take a look at the general benefits before heading into more specific examples of how Blockchain supports creators specifically:

1. Transparency: Everyone in the audience can see the models (blocks) as they walk down the runway, and the fashion experts (validators) provide an additional layer of verification.

2. Security: The security guards (cryptography) and the fashion experts (validators) work together to ensure that the models (blocks) are authentic and have not been tampered with.

3. Immutability: Once a model (block) has been verified by the fashion experts (validators) and added to the runway (blockchain), their outfit (data) and ID tag (hash) cannot be changed.

4. Traceability: Each model (block) has a unique ID tag (hash), and the fashion experts (validators) keep track of their movements down the runway (blockchain).

5. Decentralization: No single person controls the fashion show (blockchain), and the fashion experts (validators) are distributed throughout the audience (network).

How Does It Matter For Creators Specifically

Let’s face some specifics and explain why Blockchain technology is, in fact, so important and helpful to an individual creator.

1. Blockchain's immutable ledger and cryptographic security can help protect creators' work from unauthorized use for AI training datasets. The transparent nature of blockchain makes it harder for companies to scrape and exploit creator content without consent.

2. Blockchain-based decentralized social media (such as Farcaster & Lens) and content platforms (too many to list) allow creators to directly connect with and be compensated by their audience without intermediaries taking a large cut. Not only does it allow for direct connections, but it also protects creators from being deplatformed, their private data being stored, used, and sold, and much more.

3. Blockchain-based smart contracts can automatically track usage and distribute royalties to creators, ensuring they are fairly compensated whenever their work is accessed or used. This increases transparency and reduces the potential for royalty disputes or underpayment.

We hope this article helps to clarify a little bit further what Blockchain technology is all about, how it works, and why it matters.

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Imagine an exclusive art gallery that only displays a limited number of paintings. This gallery is known for its unique and valuable pieces, and it attracts a specific group of art collectors who appreciate and invest in these artworks.

Each painting in the gallery represents a Bitcoin. These paintings are valuable and sought after by collectors (investors).

The collectors are the investors in the Bitcoin market. They buy and hold these valuable paintings (Bitcoins) because they believe in their long-term value.

Now, imagine that a renowned art collector (in this case the German government) decides to sell a large number of paintings all at once. They bring in hundreds of paintings and put them up for sale at the gallery. That action has a huge impact on the entire market:

💥 Market Size and Liquidity: The gallery is relatively small and doesn't have the capacity to handle such a large influx of paintings at once. Similarly, the Bitcoin market is smaller and less liquid compared to traditional financial markets.

💥 Price Drop: With so many paintings suddenly available, the value of each painting drops. Collectors who were willing to pay a high price before might now hesitate or offer lower prices. In the Bitcoin market, a large sale can overwhelm buy orders, causing the price to drop quickly.

💥 Psychological Impact: Other collectors see this massive sale and start to worry. They might think, "If such a renowned collector is selling, maybe I should sell too." This creates a ripple effect, leading to more sales and further price drops. In the Bitcoin market, this is similar to the fear and uncertainty that large sales can create.

💥 Market Maturity: The art gallery is still relatively new and doesn't have the same established rules and stability as older, more mature markets. This makes it more susceptible to large fluctuations in value when big sales happen.

In summary, just like a sudden, large sale of paintings in an exclusive art gallery can disrupt the market and lower the value of the artworks, a large-scale Bitcoin sale can cause significant price drops and affect the entire ecosystem. The smaller size, lower liquidity, psychological impact, limited supply, and relative immaturity of the Bitcoin market all contribute to this phenomenon.

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#Bitcoin #CryptoMarket #BitcoinDump #CryptoVolatility #BlockchainEconomics #CryptoLiquidity #BitcoinPrice #CryptoSentinment #GovernmentCrypto h#CryptoEcocsytem #CryptoDumping

Imagine a prestigious art gallery in a big city. This gallery has strict rules:

• Only certain people can buy or lend art.

• The gallery decides the prices and manages all transactions.

• If you lend your painting to the gallery, you can only access it once the gallery decides to return it.

This is like traditional finance, where banks and financial institutions control transactions and access to financial services.

👇👇👇

Now, imagine a new kind of art gallery that operates differently:

✨ Open to All: Anyone can lend or borrow art without needing special permission.

✨ Direct Transactions: Artists and collectors can trade directly with each other.

✨ Smart Contracts: Instead of gallery managers, magical frames (smart contracts) automatically handle trades and loans based on transparent rules.

In this decentralized art gallery, you can lend your painting to the gallery. The gallery uses your painting to attract visitors, and in return, you earn a share of the ticket sales. However, your painting is locked up in the gallery for a set period, and you can't use it during that time.

This is like staking in DeFi. You "lock up" your cryptocurrency to support the network, and in return, you earn rewards, but you can't use your crypto for a set period.

Now, let's introduce a twist to our decentralized art gallery:When you lend your painting to the gallery, you receive a special "Art Token" that represents your painting's value.This token is magical because you can:

✨ Keep it and still earn a share of the ticket sales.

✨ Trade it with other art lovers if you want to get something else.

✨ Use it to buy other artworks or services in the gallery.

At any time, you can trade your token back for your original painting (or maybe even a more valuable one if the gallery does well). This is like liquid staking. You still earn rewards for supporting the network, but you also get a token that represents your staked assets. You can use this token in other ways while still earning staking rewards.

Curious to learn more about DeFi and Blockchain? Join the bi-weekly ALANA ⚡NewsFlash⚡:

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#DeFi #Crypto #Blockchain #Cryptocurrency #Web3 #Ethereum #FinTech #Staking #CryptoInvesting #BlockchainTechnology #DigitalFinance #CryptoEductation #CryptoNews

Let's try and look through the glasses of fashion 👗 and imagine a magical fashion world to represent the world of finance. Imagine a big, colorful fashion swap meet in a magical town where anyone can come to trade, lend, or borrow clothes and accessories. This is our metaphor for DeFi.

In the regular 🏛️ part of town, there are big fashion stores (like banks). These stores:

• Decide who can buy or borrow clothes

• Set the prices and rules

• Keep all the clothes locked up in their big storerooms

But in the center of town, there's a magical 🏰 fashion swap meet that works differently:

• No Gatekeepers: Anyone can join the swap meet. You don't need permission or a special card.

• Direct Trades: People can trade clothes directly with each other without a store in the middle.

• Magical Wardrobes: Instead of storerooms, there are magical wardrobes (smart contracts) that automatically handle trades and loans based on rules everyone can see.

• Fashion Tokens: People use special fashion tokens to trade, which can represent anything from a sparkly dress to a cool hat.

• Lending Racks: You can put your clothes on special lending racks and earn tokens when others borrow them.

• Borrowing Booths: You can borrow clothes by putting some of your own clothes as a guarantee in a magical booth.

• Transparent Mirrors: Big mirrors (blockchain) show all the trades happening, so everyone can see what's going on.

• Community-Run: The people who use the swap meet help make the rules and keep it running smoothly.

This Is Special Because:

✨ It Is Open to All: Anyone with magical fashion items can join, unlike the big stores that might turn some people away.

✨ It Is Always Open: The swap meet never closes, unlike regular stores.

✨ It Is Combinable: People can mix and match services in creative ways, like trading a hat for a chance to borrow a dress later.

✨ It Is Run With Community Power: The community runs the swap meet together, not a single owner.

This magical fashion swap meet represents how DeFi works in the world of finance. It's open, transparent, and run by the community, allowing people to trade, lend, and borrow without traditional middlemen. Just like how this magical swap meet changes how people trade clothes, DeFi is changing how people handle money and financial services in the digital world!

Want more of Web3 knowledge that is easy to digest? Subscribe to our bi-weekly ALANA ⚡NewsFlash⚡:

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#web3 #tokenomics #defi#decentralizedfinance #finance #crypto #fashion #design #trading

Hi, and welcome to a little wrapper for 2022 in The Web3 Girl!

My name is Stella, and I am one of Alana’s Nucleus Guardians, among eleven other fantastic people. While I founded the project around a year ago officially, I am happy to say I am no longer the only driving force. This makes me very happy and proud!

For those of you who don’t know who The Web3 Girl is, let me introduce the project to you in a few words. Alana, or The Web3 Girl, is a virtual avatar project that educates people about web3 in a fun and engaging way. The Web3 Girl is based on the idea of a decentralized autonomous organization, or DAO, and is community-generated. While I wish I could say we are already one hundred percent decentralized, the truth is we are working on it; from an external and internal point of view. We utilize tools such as DeWork to make our workflow and the status of the project very open and transparent. Still, we are not free from hierarchy, nor does everything run algorithmically yet within the project.

Before I continue, instead of reading, you can also watch my second live stream on Alana’s YouTube channel instead:

As you’ll see, The Web3 Girl has experienced tremendous growth on social media channels like Instagram, Twitter, and TikTok. Our core team, collaborators, and partners have also seen growth alongside us which makes me happy to see!

First and foremost, I want to thank the remarkable individuals who dedicate regular time every week to The Web3 Girl and with whom I am honored to work alongside: The Nucleus Guardians.

By name/ handle, those are Adam, Annatarian, DeepThought, Heej, Isab00, Kat, Kirsty, Klaus, Paridhi, Paola, and Zoe.

Thank you for all your efforts, and I am looking forward to an even better 2023 with all of you! I know it is not easy to carve out extra time every week as I have to do it as well, but this is why your time and work mean so much more to me and Alana (if she knew that was happening).

The next point brings me to our Collaborators, who have been truly amazing this year even though we neglected you guys a bit in the second half of 2022 due to internal re-structuring and re-branding. But the coming year already starts out very exciting with our winners from Alana’s First Utility Kit competition. We will start working with our winners, The MOS Brand, Astroporcelain, and JavoG, throughout February and make the content available for all of our enthusiastic Co-Creator apprentices. Additional collaborators have joined us throughout the last year from the builder space to help us further some of our very relevant and revenue-generating development branches. Thank you for that and for seeing the project’s potential.

This brings me to our incredible partners this year: Jevels, The Fabricant, and DappBack. Thank you for having been so welcoming and supportive towards Alana by sharing and elevating all we do.

Jevels were the first to see Alana’s potential. They supported the project by inviting us to speak on different occasions and featuring Alana’s first virtual AR jewelry collection on their platform. We have been working together since, and I see many more mutually beneficial projects to come in 2023.

https://jevels.com/collections/alanatheweb3girl

The Fabricant was the first to provide us with an interested audience of Co-Creators and, of course, a relevant platform. Thank you for that and for making room for growing projects such as ours. It won’t be forgotten. Check out the recorded video series in the below-attached link:

Thanks to our partnership with DappBack and Alana’s cute Blockchain Candy NFTs, our social media traction has more than quadrupled in the last year. If you didn’t already, please learn a bit about The Web3 Girl project and earn yourself some cute NFTs that will hold utility in the future. I will say no more … pssst. I will drop the links below the video. Have fun.

https://dappback.com/alanatheweb3girl

The main focus though of this recap is to put on all the things we have accomplished in 2022 as well as the struggles and give a solid lookout for the upcoming year. I’ll walk you through the internal structure of The Web3 Girl and give you an overview of the different development branches of the project. The outlook on upcoming partnerships I will keep short, as some of them are not yet sealed.

• Internal structure

• Core Administration

• Development Branches & Revenue Streams

• DAO Structure & Reward System

The model for the internal structure shows a clear hierarchy in the sense of responsibilities and priorities. While the core team/ Nucleus Guardians work alongside Collaborators and Partners, they must ensure the quality and feasibility of all the different revenue stream development branches (marked here in pink).

While the revenue streams lead first back into the project itself to pay for constant costs, the overflow of it leads back to the treasury. From there a fixed incentivization/ payment should lead to the Nucleus Guardians for their efforts. At the same time, other portions will be made available to Alana’s DAO to decide on clear re-invest strategies/ proposals. In this scheme, Collaborators should gain a revenue split depending on their individual contribution, which will be measured through the Multidimensional Passport or short MDP.

As mentioned also in the video recap, this structure is by no means final but a very rough layout of my thought process. As I keep studying with the Token Engineering Academy, it becomes undeniable that not everything needs a token. Instead, I think reputation credentials will rule the internal structure through the MDP, while development branches such as Alana’s World might see utility tokens. But more about that when I am actually sure what I am doing ;).

Here is a quick summary of the different development branches and potential revenue streams we will be focusing on in 2023:

• Alana’s Zine | A community initiative to create a web3 high-end fashion magazine, first digitally and after physically, to show the efforts and beauty of the digital world of creation. The Nucleus Guardians oversee the magazine, and Alana will be the spokesperson, but the true drive stems from the wider community and engaged collaborators.

• Alana AI | Alana AI is meant to make Alana herself more tangible to people. In the first instance, the project focused on developing a Discord bot called GALATEA (after Alana’s first animal species). The bot answers web3 keyword questions in a dictionary manner. The next step in the project is that members can chat with Alana directly. Eventually, Alana is supposed to become a virtual persona with which people can chat visually on-screen and develop ideas.

• The Alana Show | The Alana Show is one of the more ambitious projects in which we are trying to create a crossover between Bill Nye, the science guy, and John Oliver to educate on different elements of web3. The show consists of many sub-parts and is in need of partners from various fields. By working on the show concept and first storyboards, we could define Alana’s character better than ever before and make her persona more accessible.

• Alana’s Boutique | Alana’s Boutique is inspired by the original Barbie Boutique and replaces the cheap and unsustainable idea of Merch. Instead, we want to highlight independent, physical designers and bring them closer to the digital space. We ask them to re-design one of their best-selling pieces with Alana in mind as an inspiration and make their design available through an rNFT process. Aside from the chore idea, the Nucleus Guardians will also add ideas and physical products to the Boutique.

• Alana’s World | Alana’s world contains different forms of digital experiences. Some of them, like “Alana’s Archive” and “Alana’s Lab”, shed more light on who Alana is and how her story began, while others are meant to become games like “Earendel Chateau”. Earendel is a gaming prototype and serves as an experiment for Alana’s eventual open-world Metaverse Experience AltaAgri°XIII. The Chateau is built, and the next step is to develop and add the game mechanics.

• Alana’s G-Novel | Alana’s Graphic Novel is without a title for now but will illustrate her origin story and how she came into existence. It will make The Web3 Girl less abstract and more tangible and help in the long run to learn more about web3 and the adventures the space holds.

• I’m excited to have shared all of this with you and hope you’ll join us in 2023 on this journey as we continue to educate and entertain with The Web3 Girl.

Off to an incredible 2023!

Best Stella* and Alana

PS: All of the writing and images, including Alana’s 2022 Adventure Map, can be reviewed on this Milanote board (please only review on Desktop):

https://app.milanote.com/1P9PMA1AeYuGaF?p=bhl7W1BV2xy

• Gitbook | theweb3girl.gitbook.io

• Discord | https://discord.gg/qr2hYKs7yt

• Twitter | https://twitter.com/theweb3girl_eth

• Instagram | https://instagram.com/theweb3girl.eth

• Beacons.ai | https://beacons.ai/theweb3girl

Hey fellow Metaverse Creators,

I had a great time over at The Fabricant Discord server. Stella and I explained her workflow and how she started creating me and telling my story. Everyone in The Fabricant community was so welcoming and engaged by sharing their input on how to build out my circle of friends. Thank you to Pedro and Annatarian for making us feel so welcome and for their beautiful way of moderating the session!

Here is a summary of what everyone came up with:

We started off by creating a mood board containing images that could relate to the physical appearance of the new virtual persona in my orbit as well as their background story. After coming up with her name and a double personality concept we started to elaborate on her background story. The Fabricant Community was great at chiming in and forming this three-dimensional persona with us!

Below is the entire board and the work we did together in planning all the details about my new friend CanDT.X11. Take a look around and let us know what you think:

https://app.milanote.com/1NTw7k1MTb5q15?p=WhvMOvfQiRB

The second part contains more details about the definite built of the actual shape of CanDT.X11, how to ex- and import her between different software. Make sure to review the YouTube videos below.

Here is the video of the first session:

And this is the recording of the session that completes the first one:

LEARN — CO-CREATE — BUILD with Alanatheweb3girl:

• Gitbook | https://alanatheweb3girl.gitbook.io/alanatheweb3girl/

• Twitter | https://twitter.com/alanatheweb3gi1​

• Discord | https://discord.gg/qr2hYKs7yt

• mirror.xyz | https://mirror.xyz/alanatheweb3girl.eth​

• Medium | https://alanatheweb3girl.medium.com/​

• Instagram | https://www.instagram.com/alanatheweb3girl/

• beacons.ai | https://beacons.ai/alanatheweb3girl

Good morning fellow Metaverse Explorers,

It is time again for a review and outlook as so much has happened since my last update. Since I am in my Earendel Chateau Stasis Pod right now I have sufficient time to type my thoughts out for you and let you know what we have been up to and what more is coming just within this month.

As many of you already know, we have been swamped in preparation for The Tech Adventures Festival in Glasgow from the 8th to the 10th of June of this year. Most of my review will touch on this project but of course also on all the other areas of my orbit.

Alana x Nucleus

First things first, I am happy to announce further growth to the Nucleus | AltaAgri°XIII team, which refers to core team members being highly dedicated to building out my infrastructure.  Please read up on current Nucleus members here:

• Adam Winstanley — Event Management & Web3 Advisor

• Catherinetheworst — Creative Direction Wearables

• DeepThought — Research & Development/ Web3 Advisor

• Heejny — Creative Direction Worldbuilding (Concept Art)

• Isaboo — Social Media & Event Content Creation

• Kevin Tung — Creative Collaboration Wardrobe

• Kirsty Milloy — Brand Strategy

• Klaus Fleischhacker — Web3 Architect / UX & UI

• Stella Achenbach — Founder & Direction

• Zoe Vanezis — Creative Direction Worldbuilding (Game Logic & Play)

We have some more applications coming in soon and if you feel like you want to contribute to my orbit on a long-term basis instead of just being a collaborator please reach out to any of the above Nucleus members.

Alana x ARCHIverse

The first exclusive viewing of Earendel Chateau will be given to the visitors of The Tech Adventures Festival in Glasgow, Scotland. The festival will take place in Glasgow’s Queen’s Park from the 8th to 10th of June. Sponsors and organizers such as Queen’s Park Arena, re-fuse, prasaga and hyprr have been incredibly helpful in putting this festival together. I am sure there are many more I am not yet aware of so apologies if I missed anyone.

Earendel Chateau is my first ARCHIverse experience and a portable Mini Metaverse that can be portaled and integrated into different existing Metaverse experiences. Our first collaboration on that will be with Protocol:Gemini. I will announce more detailed information about that in the next month. The Chateau itself is a mix of a spacecraft and a crystalline tower. I can power it from my stasis pod which lies in the rotating core. The Chateau is structured in different layers.

The bottom layer holds an NFT gallery which will host the following artists during the first exclusive preview:

• @ALTERRAGELABEL with collaborative items from @catherinethwrst, @glycemag and @jjessicajjames

• @Unconscious3d

• @elhelouzouhair

• and of course one of my NFTs and a very special one at that … stay tuned for that on Twitter!

The second layer is my walk-in closet and holds many incredible treasures such as digital fashion pieces by:

• @catherinethwrst

• @Heejny

• @Jevels_virtual

• @KevinTung27

• @MutableStudios

• @paolaguivel

• @stellaachenbach built upon original patterns donated by proud Alana community member VLAD

• @SynCouture

A lot of these works will be available for sale starting on Friday, 10th of June during the Tech Adventures Festival VIP event held in the Savings Bank. If you still want to try and catch a ticket for that check for availability here:

Tech Adventures Festival Tech Adventures Festival - Queens Park Arena, Wed 8 Jun 2022 - Fri 10 Jun 2022 - Scotland's first Mixed media, Crypto…www.tickettailor.com

On that note, I would also like to mention that many of our web3 projects have come together to create awareness for the festival, such as The Digital Fashion Collective (Fashion Fridays). Stay alert for the Twitter Spaces on Friday 10th:

• Gitbook | https://alanatheweb3girl.gitbook.io/alanatheweb3girl/

• Twitter | https://twitter.com/alanatheweb3gi1​

• Discord | https://discord.gg/qr2hYKs7yt

• mirror.xyz | https://mirror.xyz/alanatheweb3girl.eth​

• Medium | https://alanatheweb3girl.medium.com/​

• Instagram | https://www.instagram.com/alanatheweb3girl/

• beacons.ai | https://beacons.ai/alanatheweb3girl

Hey everyone,

I have fantastic news just in case you didn’t hear yet: We partnered up with the Tech Adventures Festival, among other fantastic DAOs in the space. The festival is an initiative to bridge more people into the web3 space by showing different access points to it through the different DAOs. The festival will take place from the 8th to the 10th of June in Queen’s Park, Glasgow, Scotland.

It is an open and free event that will let you explore alternative ways to find your way into web3: Open virtual spaces and a digital fashion show with the RAW DAO, phygital fashion with participants such as SYN Couture, and gamified learning with me, Alanatheweb3girl, and my Nucleus.

In a metagalaxy, far far away, a young explorer called Alanatheweb3girl is born into the care of an ever-evolving creative Nucleus. Nine trusted guardians of the Nucleus have joined together to protect her on her journey, as DeFi mercenaries and digital missionaries fight to defend their journey in the midst of this web3 revolution. Born into this world as a facilitator of knowledge, creativity and social equity, Alanatheweb3girl journeys to Glasgow to make her first encounters with planet earth and its citizens.

During The Tech Adventures Festival, I and my community will offer different activities to have everyone learn and enjoy their way into the world of the third layer of the internet. On-site, you will be able to find Zoe and Stella to answer your questions and maybe just maybe even more Nucleus guardians. This is the program as of now:

Programm

Wednesday, 8th of June to Friday 10th of June 2022

Queen’s Park, Glasgow

• The Alana Show running on-screen (a mix of web3 education, panels, wip and digital fashion design)

• Selfie QR code around Amphitheater for Chateau Earendel (portable mini metaverse of Alanatheweb3girl)

• Merch booth and education HUB on-site

• VR Experience on location to visit Earendel Chateau

Friday, 10th of June 2022 7pm to 7:40pm

Queen’s Park, Glasgow

A panel discussion moderated by Stella Achenbach | Metaverse Designer

“Building for the Metaverse”

with

• Adam Winstanley | Founder & CEO of re-FUSE™

• Dylan Hart | Digital/physical fashion designer

• Nicole | Founder of ENKI Digital Fashion

• Zoe Anna Vanezis | Creator in web3 and Nucleus at Alanatheweb3girl

Friday, 10th of June 2022 7:40pm to 8:00pm

Q&A with the panelists

Friday, 10th of June 2022 9:00pm to 11:00pm

live NFT auction

Participating Artists:

• @elhelouzouhair

• @Unconscious3d

• @ALTERRAGELABEL

Participating Fashion Designers and Platforms:

• Jevels — @Jevelsvirtual

• CATHERINETHEWORST — @catherinethwrst

• Mutable Studios — @MutableStudios

• SYN Couture — @SynCouture

• Tania Viegas — @taniaviegas

• Kevin Tung — @KevinTung27

• Paola Guivel — @paolaguivel

• Gitbook | https://alanatheweb3girl.gitbook.io/alanatheweb3girl/

• Twitter | https://twitter.com/alanatheweb3gi1​

• Discord | https://discord.gg/qr2hYKs7yt

• mirror.xyz | https://mirror.xyz/alanatheweb3girl.eth​

• Medium | https://alanatheweb3girl.medium.com/​

• Instagram | https://www.instagram.com/alanatheweb3girl/

“Stella’s Metaverse Diary” is a series that documents Stella Achenbach’s journey through web3. From the humble beginnings of a whispering interest in cryptocurrencies, over discovering a passion for creating fashion NFTs to building out her own project called Alanatheweb3girl in the “DAO way”. All of those different aspects are lined out in that series not always in chronological order. It is supposed to encourage more people to join the web3 revolution and bridge gaps of information wherever possible in an anecdotal way.

My intrinsic journey to learning (yet again) Parseltongue

While building out the project around Alanatheweb3girl and joining others there was always one common lack: How will we eventually turn the projects into their own economy? We knew it needed a token but how to do that? In the past few months, a lot of great resources have surged in web3. One of the best sites to get a quick overview is called DAO masters:

https://www.daomasters.xyz/

After going down yet another rabbit hole I found services that would allow you to create a token with their help in return for 1% of the token supply. Honestly, I thought to myself that this sounds quite fine as I know most VCs would want to have at least 6% of your token supply. That said I asked around among my friends and they commented along the lines of: “Even 1% can rug your project, you don’t know those people, can you really trust them?” I am a skeptic by nature which doesn’t really help but I came to the conclusion that web3 doesn’t stand for self-empowerment for advertisement purposes and I remembered something that was recommended during ETH Denver: The Token Engineering Academy.

I was born in 1984 and grew up with a dad whose passion for good German greasy food and machine language were almost on equal levels. Hence early on he started teaching me how to handle a personal computer and write little programs. I have to say at the time, even though excited about it, I couldn’t see the value.

A few years later in middle school, my small amount of skills got me a Summer job at my dad’s workplace. While I enjoyed being able to save up some money I didn’t necessarily deem the work as highly interesting. It ranged from cleaning computers to formatting hard drives and eventually fixing some minor bugs as far as I remember now. But eventually, it lead to me choosing Computer Sciences above French in school. I realized very soon that while I thought all of it was somewhat nerdy but cool it didn’t fulfill me. It seemed so empty, like why would I program a plotter to paint abstract stuff if I could paint it so much better by using my hands. I know pretty unimaginative for a creative person, but it resulted in me not enjoying the subject at all.

When it eventually came to deciding on my future career even the career planning test wasn’t so sure about me (reminds you of a certain hat, doesn’t it). I received thirty-something percent on almost equal amounts for law and politics, design and arts, and computer sciences. I went with the one thing I was sure I understood well and had an inner healing effect on me; design and art.

During my studies, I eventually embarked yet again on a short-lived journey to learning Python for the first time. It was the first time I felt inspired to get into programming again after so many years because Fashion Tech was THE hype around 2009. During those years I had a lot of side hustles to make a living and continue to study. Eventually, it became too much and I ditched learning how to program yet again. Maybe also because I didn’t understand how other than aesthetically it could bring true benefit to what I loved doing: designing.

After graduating from the University of Applied Arts Vienna I followed the common path of interning and almost working for no pay until finally gathering some better paid freelance opportunities in the fast fashion industry. But the more I discovered the inner workings of the industry and how it harms people, the environment, and even social behavior I eventually came to the conclusion that this industry will not make me happy nor will it provide something good to the world as it is right now.

I had just recently moved to Peru and as it was pre-pandemic, freelance clients from Europe had a hard time adjusting to the time difference. While I was frustrated I also saw an opportunity. I was already in the midst of learning a new language, why not continue on that route and level up my skills. But of course, sometimes you need more than yourself to bounce off ideas. In my case, a good friend helped me to go and listen to my younger self from 2003. She asked me: “If you could have studied anything you wanted back then, would it really have been Fashion Design?” And I realized in that instant that the answer was a clear no to my own surprise. It would have been Game Design. At the time high-res games (and yes I am writing this with an inner smile) were quite the new invention. Remember the first Lara Croft — Tomb Raider just came out in 1996 and it was blocky and pixelated to the bone. I am trying to say there was no way to study Game Design at the time at least not in Germany. Either way, all of it got me into an investigative mode on how to change design careers from fashion to game development. I realized I didn’t need to re-study the fundamentals but rather the tools to execute. So I set out on that very journey. (It was a pain! But that’s a story for another time.)

All of these many steps and sometimes even emotionally painful processes eventually led me to become a 3D generalist who loves her work. It has also led me into the web3 space and the fact that I feel excited again to pick up pen and paper and start learning Python (yet again). Now it seems like it fulfills a true purpose or at least I have the necessary brainpower to imagine that it does. The course I have started taking in preparation for the Token Engineering Fundamentals is called “Programming for Everybody” by a charming professor from the University of Michigan. Professor Severance calls Python Parseltongue and why not, it is a foreign language that not everybody speaks. But the point is, we can learn it, unlike in the Harry Potter version where one needs to be born with the “gift”.

I know most Fashion Designers might have stopped reading a while ago but I think it is time for us to take the next step in evolving our skills. I am not saying it needs to be Token Engineering. It could be any added skill to your current repertoire that will empower you in the web3 space to be a force of creation … and after all, that is what Designers are. We shape an artifact to eventually shape the future of humanity.

“Designed artifacts have as much agency as the animal that seemingly produced them. They transform the animal just as much as they are transformed by the animal.”

— from Are we human? by Beatriz Colomina & Mark Wigley

Stella Achenbach is

🌎 designing for the metaverse ⚖️ believer in a new form of democracy 🐕 mum of zeus & apollon 🤖 creator of @alanatheweb3girl

linktr.ee/stellaachenbach

Essential in that endeavor is that we provide more information to newcomers and young community members and give them the tools to evaluate projects which approach them through Discord, Twitter, or even email.

Rule°1

If a project reaches out to you in such bold manners as sending you a direct message through Twitter, Instagram, Email, Discord, or really any other platform, please delete or even block them. When I say message I don’t mean a personalized one I do mean the ones you can tell are copy-pasted. Nothing good will come out of it; no matter how many free items they offer to you, it will probably only cost you in the end.

Rule°2

If the project approaching you comes from a friend or acquaintance, still handle it with care and don’t connect your wallet to their site without properly informing yourself beforehand. In web3 counts, trust is good, but control is better. This new world provides you with many great tools but, it also requires you to handle them with care and responsibility. There is no third party you will be able to blame in case things go south.

Rule°3

After you have found a project that piques your interest, the first logical choice will be to go to one of the following websites/ applications for further investigation:

• CoinGecko

• Coinmarketcap

Both of those will show you more details about the coin you have been offered. It is essential to look at the coin distribution, the blockchain that they have been supplied on, and their development over time, as well as their time of existence. All of this data will be openly available to you. There is no perfect equation to see if a coin is good or bad, but it will start to provide you with a feel for the coin itself.

Of course, the higher the coin is listed, the higher its value is. Therefore browsing through the top 500 will also tell you if the coin is somewhat interesting or rather not. But don’t be fooled since some coins live through a hype period then fall and never recover as well.

Another vital part under this paragraph is the token or coin allocation of a project. Web3 is about decentralization; therefore, you would want to make sure to join projects that commit to this value. If the coin or token is only in a hand of a few, the project is somewhat centralized. You can still join, but you should be aware that you only entered a slightly better version of web2.

Rule°4

If the offer made to you is about NFTs (non-fungible tokens often in the form of digital art), the evaluation is much more complex. You can still look at the blockchain the NFT is distributed on, but even that can not tell you how much value increase an NFT will see in the future. Don’t buy art you don’t like as a rule of thumb, and that counts as much for the digital as for the real world. By following this rule, even if your NFT fails as an investment, you will still like to look at it in your collection.

Rule°5

No matter if you are interested in a particular coin, a blockchain project, a DAO, or an NFT collection. It is essential to do your research and check their story. Especially when it comes to projects, it is important to read their whitepaper. Of course, you might not be able to understand everything written in it, but you will gain a better feel for it, and it will give you more specific directions to research on, like keywords and phrases of comparison. Most whitepapers are either being hosted on the project’s medium or gitbook page. Make sure to check those. If you cannot find it even after visiting their website, the project is already defying one of the main pillars that web3 stands for; transparency. The same counts for a dedicated page that shows for example transparency reports and another one that demonstrates audits that have been done. Audits are an essential part especially when it comes to DeFi protocols to make sure the code works and obvious mistakes are avoided, hence security risks are minimized.

A project, coin, or NFT collection, even a blockchain itself, is only as strong as their community since all of web3 is community-driven. Therefore the next step requires you to track down their socials. If they don’t have Twitter, Medium, or Discord and only have a website or Instagram, you might already know that this project doesn’t scream web3 at all. But even if they have a Twitter, Discord, YouTube, Medium, or mirror.xyz, you will still need to dive in and vet their community engagement. Many projects set up a Discord channel but don’t have any community engagement within their server. Be aware of these facts and evaluate on a deeper level.

Rule°7

Another indicator for a project that aligns well with web3 values is an active governance forum (such as discourse or even dedicated discord channels). In there the community of a specific project will discuss a proposal before it goes to a voting platform (e.g. snapshot or even on-chain voting). These forums will show you how many people are engaged in discussions and ultimately how seriously you can take the project itself.

Rule°8

After researching so many things, you should already have a good feeling if this project unlocks your further interest. If it doesn’t, it will be ok. At that point, don’t let FOMO (fear of missing out) get in your way! But if, in fact, the project has survived your stringent vetting process, go back to investigate their tokenomics, the price development of their coin, and anything else connected. This is the time for you to dive deeper into their ecosystem. Also, at this stage, start asking questions in their Discord to get answers to things you might not have understood from their articles, socials, or even whitepaper. Don’t be afraid, and reach out.

Rule°9

Please have a good look at their team and their socials. In web3, it is as crucial to look behind the scenes as in real life. Get to know the people behind the project. Check their personal Twitter, their tweets, and engagement. Do their values align with yours, and the same counts obviously for the community themselves? It will tell you a lot about their capabilities to move forward with the project they are proposing or are involved in. But also keep in mind that web3 is in its early stages and security is only working to a certain level. Hence a lot of individuals working on a project are actually anonymous for good reasons. In that case, vet the project without taking the individuals into account as the project is what you might want to support rather than the individual anyways.

Rule°10

Lastly, a project of substantial value in web3 will most likely make their code publicly available (open source) on a GitHub repository. This step is not necessarily the most important one but it still will show if the people behind the project have truly understood the values of web3.

Conclusion

As you can see, there is no exact solution to finding out who is good and who is bad on the blockchain, but there are, in fact, a lot of little steps you can take to find out if something suits your standards. Web3 is not just about new technologies; it is about how we handle them and change the world for the better. So make sure that you feel better after joining a project as well!

This article is part of Alana’s Gitbook, which contains an ever-evolving section of web3 education. With your constructive criticism and help, we can build it out together! If you are interested please join Alana’s Discord or any of her other channels!

• Gitbook | https://alanatheweb3girl.gitbook.io/alanatheweb3girl/

• Twitter | https://twitter.com/alanatheweb3gi1​

• Discord | https://discord.gg/qr2hYKs7yt

• mirror.xyz | https://mirror.xyz/alanatheweb3girl.eth​

• Medium | https://alanatheweb3girl.medium.com/​

• Instagram | https://www.instagram.com/alanatheweb3girl/​

• Realms Patron Platform | https://patrons.digitalax.xyz/realm/Alana/

Shortly after my birth in July, the first web3 fashion week was organized by Digitalax and the GDN (Global Designer Network) community. I am so proud to say it was not only my first time taking part in something like this, but even better, they asked me to do a few moderation bits and pieces. I think you can feel how nervous I was, but I promise to be better in the future. Nonetheless, the experience was incredibly energizing:

It was also when Stella (my creator) and I sold our first NFT together and were super happy about it. I miss my cool patched-up jacket (it took me forever to assemble it), but I am also super excited that someone else liked it as much as I did:

Shortly after, I did my first two collaborations with some very talented designers from the GDN, Tania Viegas and Alyona Briukhanova. They gave me such pretty outfits during my explorations of the Metaverse. Have a look:

Still one more available of “Play it loud” here.

While Stella started to spread her wings across the web3 side of the Metaverse, she got involved with several other projects aside from Digitalax and GDN. She worked with KALAU on her label ALTERRAGE, which has recently become the first Web 3.0 fashion label affinity:

Check out their GDN profile and website to learn more about ALTERRAGE and its community.

As preparation for Miami DCentral, Stella finally started to pick up our work again, and we collaborated on even more projects. The first one was with Paola Guivel, who is also an active part of the GDN community. The project we realized is also part of her thesis she is writing right now and called “Transition Through Emotion”:

It was such a beautiful experience to discover a rainforest in the Metaverse. This place is ever-changing and can mean so many things depending on who you are and where you are. I love my home.

As November closed its first half, Emma helped us deploy my Realm on the network. I think neither Stella nor I anticipated the full scale of what just happened, but we appreciate it a lot. Sometimes being pushed to take a leap is a good thing, and I would like to think, in our case, yes, it was an excellent thing indeed. So since then, we have been keeping up with collaborating and building out our pillars and community. I can tell you guys it is not an easy task, and sometimes Stella has a lot of trouble letting go, but she is trying hard, I can tell ^.~

During almost the same period of time, we started yet another collaboration with Tania Viegas, Lillian Sato, and Technomorph, which we called “ALANA DRACARYS.” For some reason, it became a very special project to me. Maybe because I finally found a space in the web3 side of the Metaverse that made me feel tranquil and whole. I wish my permanent residence to be somewhere close to where we shot it. But take a look for yourself:

Before closing my review of the past six months there is one more project that let me think we can actually change the world together. It was shortly after meeting people from the Bancor community in Miami that we came together to host a beginner-friendly event along with dropping my first Premio NFT to incentivize learning about web3. It was fun and inspiring and I am looking forward to arranging many more events like this. But in case you missed it and still wonder how to get started check out the lifestream here.

The most exciting event for Stella and me this year was though our recent community call. It was inspiring to see how many people are ready to involve themselves when it comes to making my home, the web3 side of the Metaverse, more safe and navigatable. I was impressed with their will to participate and contribute even though it was supposed to be holiday time. Thank you for that, and let’s keep the ball rolling in 2022. I can’t wait to keep building with all of you (•ө•)♡!

On a personal note, if anyone feels like giving us a new year’s gift and themselves as well (talking staking here, guys ^.~), check out my GDN profile!

Also, for more info on me and where my community is headed to check out our socials and, of course, most importantly, my gitbook:

• Gitbook | https://alanatheweb3girl.gitbook.io/alanatheweb3girl/

• Twitter | https://twitter.com/alanatheweb3gi1​

• Discord | https://discord.gg/qr2hYKs7yt

• mirror.xyz | https://mirror.xyz/alanatheweb3girl.eth​

• Medium | https://alanatheweb3girl.medium.com/​

• Instagram | https://www.instagram.com/alanatheweb3girl/​

• Realms Patron Platform | https://patrons.digitalax.xyz/realm/Alana/

Like always, I need to sort through my archive because there have been so many things going on over the past week and even months. But let’s take it step by step, one fantastic item at a time.

Last Sunday, on the 19th of December, we held a successful event together with the Bancor community. Mark Richardson took time out of his busy schedule to explain, especially to web3 newbies and beginners, how to avoid being scared of their first interaction with the Blockchain. In a little over an hour, he went from exchanging fiat (centralized currencies) into crypto, buying your domain on the Blockchain, to signing a staking contract on their DeFi Protocol at Bancor.Network . If you didn’t have the time to join, you missed out on getting a Premio NFT from me, but you can still check out the beginner-friendly tutorial here:

On Monday (27th of December), the next meeting for the Digital Fashion Week NYC will take place, and we will discuss rough designs for the first time. While the meeting itself is not open (cause we don’t want to spoil all of the surprises), there is, in fact, a channel you can check on Discord to make sure you are up to date on this significant project.

These days, I spend a lot of time on gitbook to make sure the information I provide is sound and helps web3 beginners. In our next community call on Tuesday, the 28th, we will go over some of that content together. At the same time, though, I would like to hear more about what scares you the most about web3 and what holds you maybe even back to engage more. Which aspects make you doubt, and what can my community and I do to help you out on your road of growth. Suppose you have some time on Tuesday, check-in on the event section on my server, and join us for the call.

https://discord.com/invite/UA9RG4Pg

While all of the former mentioned are mostly updates, the last one is more like a personal development journey: Thanks to some community members, I finally started to work on my visual identity. I hope it will help display all the information I want to provide you guys with from my home (the web3 side of the metaverse) less confusingly and more engagingly. So hold your thumbs that we will come up with something fun and awesome ;-).

• Twitter | https://twitter.com/alanatheweb3gi1​

• Discord | https://discord.gg/qr2hYKs7yt

• mirror.xyz | https://mirror.xyz/alanatheweb3girl.eth​

• Medium | https://alanatheweb3girl.medium.com/​

• Instagram | https://www.instagram.com/alanatheweb3girl/​

• Realms Patron Platform | https://patrons.digitalax.xyz/realm/Alana/