Web3 Social: round up #5

Aaand we're back with our weekly summary of what's new in web3 social. A lot has happened since our last web3 social round up! Let's get started.

Aaand we're back with our weekly summary of what's new in web3 social. A lot has happened since our last web3 social round up! Let's get started.

Published on February 14, 2024

February 14, 2024

Lukso launches Universal Profiles on Mainnet

It's been a long-time in the making and we couldn't be happier about the successful launch of Universal Profiles on Lukso Mainnet. Massive Kudos to the team at Lukso, who have worked their butts of to meet the launch date.

Over 1330 platform independent blockchain accounts have been created already.

Universal Profiles are interoperable blockchain-based profiles which enable verifiable identities in the digital world. They allow for universal logins that make remembering usernames and passwords a thing of the past, while also giving you full control of all your virtual assets and identity. Universal Profiles simplify the onboarding process to Web3 for users, brands and creators, while also improving accessibility, security and functionality.

Common Ground is the first social app to integrate Universal Profiles into its core identity system and offer everyone with an 🆙 to create an account on the platform. We're super happy to welcome all the new people to Common Ground and love the enthusiasm of the Lukso fam. Welcome!

  • To learn more about Universal Profiles, start here.

  • To create your own UP, go here.

  • To understand how you can use your UP on Common Ground, read here.


Simpsons NFT Halloween Special

The Simpsons have made short-form episode on NFTs in their Halloween Special. It's a pretty funny take on the phenomenon of non-fungible tokens, albeit a bit late given the current state of the market. Nonetheless, we found it really funny so we're inclined to share it.

"Honey, remember how we always say we wish Bart was less fungible?"


OpenSea cuts 50% of staff

In line with the valley of darkness that the NFT community is currently walking through, the once promising upstart OpenSea is cutting about half of its staff to become more agile, save on cost and reorient the business around future growth potential.

OpenSea is a marketplace for NFTs

We wish them good luck!


Polygon offer $90M of grants for DeFi, NFTs, infra, social

While coin prices are pumping, the fundraising game for web3 social startups is still difficult. That makes grant programs from established ecosystems all the more important to keep the space growing and builders motivated to keep building.

Polygon's move to announce 110M MATIC (~$90M) of grants for i.a. web3 social projects therefore comes at the right time.


Binance launches MPC Wallet

Those of you following this space closely have noticed a surge of new applications in the past couple of months that employ novel methods regarding key security to make onboarding of users more "web2-friendly". The two main strategies that have emerged are Multi-Party-Computation (MPC) and Account Abstraction.

Both strategies come with benefits and drawbacks and as usual, crypto twitter likes to fight hard about what is the better solution. Notably, Vitalik has spoken out in favor of account abstraction.

So it's all the more interesting, that Binance has launched a new wallet application that leverages MPC to keep user's funds save, while not having to ask them to store a 12-word seed phrase.

What do you think is the better strategy?


The end

Join the discussion & read more over at Common Ground.