FUD FAQ | A Weekly Community Thread | Week 27

Top Question of the Week

  • What’s new?

Well, we love getting this question, because there is always something new brewing in the DIGITALAX rendition of Bell Labs. Without giving away too much alpha and keeping in mind how actively we release, some very cool things are in the work, some are quick and take less engineering, community and creative production effort, and others require all of this in masses. Our big focus for October covers these key areas;

  • Growing the engagement and cross-network productivity between the DIGITALAX community and well aligned DAOs in the space.
  • Improving and refining The DLTA system for onboarding new guilds.
  • Growing out the LOOK ecosystem and onboarding new designers into the GDN.
  • Engineering refactoring on the DIGITALAX fashion NFT marketplaces to include secondary market sales + automated profit distribution to $MONA and Genesis NFT holders, coinciding with the new $MONA rewards program.

Most Common Repeat Question

  • How can I invest more in DIGITALAX?

Well, first of all, that’s an interesting question, but here is an even better one; How can I buy in, in a web3 native way that supports the decentralised creation and ownership of the assets that become the building blocks for the metaverse?

We get this question a lot, almost daily, from all kinds of people with interesting backgrounds, both deep within and outside of the web3 space.

DIGITALAX is part of a new wave of entirely protocol and ecosystem driven ventures, which don’t need to be trapped by the debt games of the web2 VC world. When you can enter direct to community & direct to market, why would you as a project leader, genuinely committed to your principles and the uncapped success of what your building for its own sake, why would you take on the excessive responsibilities of being owned by investors focused only on the exits. A shiny gold card is not enough.

DIGITALAX is committed to remaining authentic to the fast growing global community of pioneers making the metaverse what it can be. We do that from both a highly capitalistic and humanity enhancing root, because in decentralised economies, those two perspectives that used to be in conflict with each other are now complimentary.

Top Controversies in the Industry

Most of us heard about the Compound Finance buggy update that accidentally rewarded around $90 million of COMP tokens to users. Writing code in web3 is very hard, there are so many variables at stake and edge cases to take into consideration. Even the most thorough unit testing can miss something. This becomes all the more hard when millions to billions of dollars are at stake. Building in the open bazaar allows you to iterate faster and become battle hardened from what’s gained. It’s something that continues to serve DIGITALAX very well, and, with proper affordance and encapsulation the benefits of a move fast and break things approach to programming can translate to a web3 internet of value high risk environment.

However, as with most things, it’s how we react to challenges rather than what challenges arise that matters. A founder deep in the space essentially threatening users to expose their personal information if they don’t quickly fix your mistake is something there is no excuse for. Decentralisation of power and authority over ones own personal assets and information are some of the strongest features of web3, and for a founder to undermine that and use it as a strong arm tactic should be looked at very skeptically…. which is interesting given that the day after the error one of the long term collaborators on the project, Jake Chervinsky, who is renowned as one of the strongest voices in crypto in political circles, countering lobbyist fud suddenly resigned, claiming to need some time off whilst looking forward to new opportunities. There is certainly more to this story and the culture behind the scenes. It looks a little bit too much like the web2 world, where in the past week we saw the total meltdown of Ozy Media because of strange comments and actions.

Silly Fails and Trolling

This isn’t the first time a PFP or other NFT project has been effectively rugged. These are just part of the unfortunate learning and growing pains of the space as buyers learn to do more research before trusting anyone’s word out there. The internet is a dark forest and web3 adds more depth and potential to that.

Supposed 17-year-old artist sells $138,000 of fake NFTs and disappears

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