# How far will you go on a first date? (to L3 or L4, depends) Source: https://paragraph.xyz/@seedclubhq/seedclub-network-news-may-29-2024 Kiwi News: https://news.kiwistand.com/stories/How-far-will-you-go-on-a-first-date-to-L3-or-L4-depends?index=0x6658583d185af15567b2fb1d4107ecb7b370fcaa2951a004f469a0255522ed542be0067b Submitted by misha on 2024-05-30 UTC, 1 upvote, 0 comments ## Summary This Seed Club newsletter argues that crypto's consumer moment has arrived, citing the accelerator's shift from DAOs to a consumer focus over a year ago and its second consumer cohort now nearing completion. It credits L2 adoption, embedded wallets, PWAs, and Farcaster and Lens as a testing ground for early users, with consumer products now consistently top fee earners. The newsletter also reports that the ETH ETF was approved, the House of Reps passed FIT21, and SC07 Demo Day is set for June 20th with 8 consumer crypto projects presenting. ## Article greetings and good morning, i am (not) normal and can (not) be trusted with a long weekend. but alas, i write this newsletter to you from a lovely sunny summer nyc day where i am enjoying 3 beverages (simultaneously, differentiated). you can just see the subtle luminescent glow in my skin ever since the eth etf passed. also, they made a grail dickbutt in my likeness. anyways, here's this week in consumer crypto. xx c ​It was over a year ago that we announced the evolution of our accelerator from a focus on DAOs to a broader focus on Consumer. Underlying this decision was our belief that crypto is fundamentally social tech, the infra was ready for great consumer products, and the majority of value would be created at the attention layer (application + brand + token). ​We were deep in the bear market and most investors were back chasing “safe” infra bets. There was very little support for early stage consumer builders and we felt we were uniquely positioned to step up and help bring industry defining products to life. ​Fast forward to today, we’re rounding out our second consumer crypto cohort, and the progress has been insane. L2 adoption, embedded wallets, PWAs, and more have made it dramatically easier and cheaper to bring great products to market. Tx fees are proving to be a killer business model and consumer products are now consistently top fee earners. Memecoins have clear PMF, have broken out into public consciousness, and are onboarding waves of new people. Farcaster and Lens have emerged as a fertile breeding ground for acquiring early users and testing new ideas. And people are slowly waking up to the opportunity attention-dominating consumer products will have to vertically integrate, commoditize infrastructure, and serve their community in increasingly expansive ways. ​To say it more simply, crypto’s consumer moment is here. We’re right on the freaking brink. The rain has stopped, the sun is breaking through the clouds, the small woodland creatures have returned, and all eyes are finally on consumer crypto. Join us for SC07 Demo Day on June 20th, where 8 consumer crypto projects share their vision… AND MORE... Not only did the ETH ETF get approved, but the House of Reps passed FIT21 — showing that protecting blockchain tech has strong bipartisan support. This is an important step in providing long-awaited regulatory clarity for crypto, protecting US consumers, and promoting innovation. It’s also a big step for holding bad actors accountable, which is good for (mostly) everyone. 🙂 Caitlyn Jenner is promoting a token called $JENNER (lol), with the token garnering more than $28M in volume in 90 minutes, and she's now saying that her "crypto promoter" has “scammed her” and gone “radio silent" (lol x2). Iggy Azalea is also doing some crazy sus stuff with memecoins. $PEPE is now worth more than every single major NFT project, across blockchains, combined. The combined TVL of Eth L2s hit a new all-time high of roughly $47B. Uniswap Labs + Across proposed a standard for cross-chain intents. ENS Labs is proposing to expand to L2! Today, Gemini Earn users (incl me yay) received $2.18B back in a recovery from when Genesis decided to rug everyone in 2022. Enjoy cooked up a fun experiment with Forage and Backdrop to discover (and tip!) great builders as part of Build v4 launch week next week. Mint the launch by next week to participate. Internet Explorers is a weekly rundown live stream where extremely online individuals broadly explore (romanticize, even) new consumer internet experiences. Live & online Fridays at 10am PT / 1pm ET. One of the most fun things we get to do at Seed Club is lean into the edges of new, interesting, and weird spaces. One of the ways we do this is finding incredible people and learning alongside them. So, as part of the latest in this ever-expanding quest, we're excited to announce the launch of Liquid Culture, a new podcast from Ben and Natalie under the Seed Club Media Network, focusing on the intersection of crypto, culture, and creative industries. The name comes from this idea that blockchains have taken culture as an asset class and made it liquid, whether that’s via digital art, memecoins, gaming items, or whatever else. While these categories are nascent, Ben and Nat are convinced that blockchains are an important tool in changing how culture is created and consumed over the internet, and we’re stoked to hear their conversations around that. First guests include Derek Edwards and Dani Loftus. Follow the pod on X! Last Friday, Seed Club Ventures and Foresight Institute co-hosted AI x HOPE, a full-day of panels and workshops delving into the realm of AI. The event spotlighted a diverse range of builders n thinkers. Discussions covered everything from navigating the nuanced space between naive accelerationist ideologies and top-down control strategies, shaping safer superintelligence, agent-based DAOs, the implications of AI research, and how we can work towards sustainable alignment in AI advancements. I learned a lot and so can u ! You can watch the full day of talks here: Play Video Roam is a new mobile browser designed to make onchain connecting, exploring, and transacting a whole lot more pleasant. It aims to streamline onchain interactions by providing seamless access to web3 apps, social features so you can stay updated on your friends' onchain activities, and a fun, game-like interface to engage with crypto. It's also optimized for mobile so no more cumbersome switching between browser and wallet, or battling the limited UX of in-wallet browsers. Roam is coming to the app store soon but in the meantime, you can join the beta, stay updated through the Roam channel on Farcaster, and mint Manifesto Video. Watch the full episode: Play Video DEMO DAY. DEMO DAY. DEMO DAY. June 20th. plus.... tune in to internet explorers every friday @1pm et (live.seedclub.xyz) Overheard on Crypto Twitter The two most important features of Web3 Social 1. Transportable social graph 2. Control the algorithm This chart reminds me of every token I’ve ever bought it's cheaper to send money on base than over venmo THE FORMS OF SOCIAL PLATFORMS my current framework for understanding/categorizing social platforms (both web2 and web3) This week: - FIT21 passes with bipartisan majority - ETH ETF approved - Onchain pizza goes viral - Pectra roadmap + timeline locked for Q12025 - Hundreds of thousands wallets onboard to @base And summer hasn't even started. Onchain acceleration. proof that you can actually do anything in this world If I owe you an email, imagine what I owe myself hate to see other people living out my dream