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What’s on today:
💡 Weekly Flow Blockchain News
📹 Why Hybrid Custody is the next BIG thing
📊 Flow Blockchain Data of the Week
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💡 Flow Blockchain News
Flow launched their Flow Accounts Create feature. Just run a command and create your Flow Testnet and Mainnet accounts
Dapper Labs responded to the Friel v. Dapper Labs matter
Flowverse spoke with Hangin’ with Hoodlums about their new home
Blocto closed their Series A at a $80m valuation
NBA Top Shot Locking & Burning leaderboards wrapped up with one collector burning a Legendary Moment for the first time
NFL All Day shared several updates
Barter Yard Club integrated Doodles 2 and Dimension X to their platform
Dimension X was featured in the popular crypto newsletter, Milk Road
UFC Strike teased upcoming merch in their Discord
La Liga Golazos La Capital Challenge is live commemorating the Real Madrid, Atletico de Madrid derby
Chainmonsters left Flow
The Football Club announced their next drop with Eintracht Frankfurt
🔮 Why Hybrid Custody is the next BIG thing
Hybrid Custody could have a phenomenal impact in bringing mainstream users to Web3.
It excited our team as much as using Uniswap and NBA Top Shot for the first time.
Here's a simple explanation.
The problem
Applications having their own custodial wallets is arguably the most seamless user onboarding experience.
But this comes at the expense of interoperability & decentralization. These are two of the most important aspects of Web3.
The solution
Hybrid custody solves this 🧠
Users can be onboarded to an application through an app's own custodial wallet.
This means they can signup with the app's standard sign in (email/password or social sign in). Then frictionlessly buy or claim an NFT.
And then if the user wants the benefits of Web3 i.e. true ownership, trading, or use their NFTs in third-party applications they can later delegate control of the custodial application wallet to their own crypto wallet. i.e. Blocto, Lilico or Dapper on Flow.
Now they can use their Blocto, Lilico or Dapper wallet to control the NFTs stored in the custodial application. Literally buy, sell these NFTs etc. using their own wallet and all relevant changes (purchases, sales) will automatically be reflected on the application side
With Hybrid custody there is no need to 'export' / transfer NFTs from a custodial application to a crypto wallet back and forth.
Your crypto wallet has control of the NFTs in your custodial wallet.
BOOOM.
The benefits of Web2 onboarding + Web3 achieved.
Bottom Line: Hybrid Custody may be about to change the game for onboarding the mainstream to Web3.
Hybrid Custody was proposed by @dete73 who also created the ERC-721 standard on Ethereum. You can learn more about it here.
📊 Flow Blockchain Data of the Week
Ticketmaster and Flow announced a partnership in 2022. Let’s take a look at the numbers to see how that’s going…
Partnership overview: Dapper Labs is supporting Ticketmaster but they are building their own technology on Flow, which is an open platform. This partnership is different from the licensing arrangements Dapper Labs has with sporting leagues.
How the NFTs work: After certain events, ticket holders receive emails with the option to redeem a commemorative ticket NFT.
What you can do with them: For now, the NFTs released simply serve as a keepsake or a reminder of the event.
The impact in 2022:
2.5 million+ active users
5 million+ Ticketmaster NFTs minted
70,000+ 1/1 commemorative ticket NFTs at Super Bowl LVI
Read more about it here.
💼 Flow Ecosystem Jobs
Kick-off 2023 by quitting the job you hate and getting a new one in Web3!
View and apply to Flow Blockchain ecosystem roles here!
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