November 9, 2023

Uncle Sam Wants His Cut

Uncle Sam Wants His Cut

A Decent Publication

Presented by CryptoLink.Tech &

Volume 1 | Edition 21 | November 08, 2023

Opening Thoughts

Good morning, ladies, gentlemen, tree-branches, and everyone in between! If you are new here, welcome to the #1 newsletter in web3 and tech. If you are a longtime supporter, welcome back and thanks for tuning in on this crisp November Thursday.

When was the last time you saw a post on X about SocialFi?

In web3 we see fads come and go as often as Ben Armstrong shows back up on our timelines, ponzi-fied social media was no different. Friend.Tech, Stars Arena, and all the other copycat projects are all but dead at this point.

Friend.Tech, the largest of the SocialFi platforms, has only eclipsed $100k in 24-hour platform fees three times in the last three weeks. To put that statistic in perspective, FT generated no less than $500k in 24-hour fees for a month straight from September 8th to October 5th (

Friend.Tech fee statistics on

Meanwhile, in the social media world, Elon is getting ready to launch X’s own AI called Grok. This is just the latest development on the platform that Mr. Musk plans to make the ‘everything app’.

Why did anyone ever expect the SocialFi trend to end up any different than it did?

We’ve seen this story before — teams in web3 rushing a platform that doesn’t solve a problem trying to compete with incumbents that can swiftly adapt. SocialFi was no different.

X now allows creators to monetize while integrating the aspects of every other social platform we know and love like livestreams and long-form video. There isn’t a single web3 team right now that can compete with X in the social media market.

New companies can break into a market with emerging technologies when the incumbents are too afraid or legally hamstrung from pushing the emerging technology themselves.

Elon Musk is not an entrepreneur afraid of trying new things or pushing the boundaries of an established industry. In my opinion, this makes social media ridiculously hard to break into right now.

When you see these things pop up, genuinely ask yourself if you would use it long-term.

If the answer is “no” then the rest of the market probably thinks so as well.

At this point we could have our own version of the infamous fan-made Cleveland Browns QB jersey but with broken crypto trends instead.

Now just replace the names on that list with the following:

  • Rebasing

  • PFPs

  • Opepen

  • Pepe

  • Nodes

  • Airdrops

  • NFT projects planning to build an oil pipeline

  • DAOs

  • Algo Stables

  • SocialFi

  • Ordinals?

What will the next trend be, anon?

Let’s get into the last week in web3!

World Of Web3

Navigating the immense amount of nonsense in this space, bringing you only the good stuff.

Big Brother Sam: IRS Plans to Increase Surveillance and Confiscate Crypto

There's a new development in the digital realm that’s stirring the pot, and this could affect all of us.

The IRS is plotting to massively increase its crypto surveillance. With a fresh proposal on the table, we could be looking at a future where every digital asset gets a federal once-over.

The DOJ’s not just watching the show; they’re set to play hardball with the space to confiscate crypto, skipping the courts and going straight to the grab. No crime needed, just a hunch.

Remember, staying informed is your best bet. This is bigger than a simple policy shift; it's a potential pivot in how Uncle Sam interacts with blockchain.

Uncle Sam is watching your trades, anon

So, hit pause on your trades and take a second to read up on this, because knowledge is power—especially when that power is looking right back at you.

Click HERE to read more on this from Cointelegraph.

Salt In the Wound: Yuga Labs CEO Spends Millions on NFTs Amid Company Layoffs

This story had web3 X feeling some type of way this week.

Wylie Aronow, better known as Gordon Goner, one of the captains of the Yuga Labs ship, has been making waves in the NFT ocean. The man’s gone on a shopping spree that's got everybody talking. He's dropped a cool $1.5 million on some of the most coveted digital collectibles out there.

From snagging a rare CryptoPunk to pieces from Doodles and Beeple, Goner’s been buying up multiple NFTs even beyond his own Bored Ape Yacht Club creations.

But here's where the complaints start—this activity happened right as things got a bit dicey for Yuga Labs. Yep, we're talking layoffs. It’s a move that definitely has the X community buzzing.

The big question is, what does it mean when a leader in the space is both cutting costs and splurging on art?

Goner himself, who took a health-related leave earlier this year, has been upfront about his moves, even giving his followers a heads-up that he was about to dive into some non-BAYC (Bored Ape Yacht Club) NFTs. ( 2023)

To summarize the words of The Block Research Analyst Brad Kay, it’s not every day (in this market) someone buys up $1.5 million worth of NFTs across various collections.

This comes after what’s been noted as the best month for NFTs in a while, with trading volumes up by more than 20%. Yet, it's clear the sector is still navigating rough waters, with the overall downturn leading to staff reductions at both Yuga Labs and other crypto giants like OpenSea. ( 2023)

Decent Media Publication

Decent bits from a decent publication.

Dollar One of Sale One: How Independent Musicians Are Rewriting the Record Industry (part 1)

Author: MacEwen Patterson, Gauss CBDO

"It’s not easy to write a story about cultural giants that paints them poorly, mostly because it hurts my soul to do so.

It’s important to note that historically, recording artists have a set of intelligence many of us won’t. AND, that intelligence hasn’t been enough to save them from themselves or from unscrupulous entrepreneurs who made fortunes off their backs."

Check out the rest of the article HERE and give it a ‘clap’!

Tech Trends

For that cousin at holiday dinners.

Using The Blockchain for Good: Truflation Will Offer Real Time Inflation Data

When we chat about inflation, we're talking about how we measure the ebb and flow of the economy, and the CPI has been our go-to metric for a century.

However, it's not without its critics who point out its once-a-month update and a somewhat old-school data collection method that involves people physically writing down prices in stores.

It's a method that could miss the swift changes in the fast-paced digital economy that we live in today.

Truflation steps up to the plate with the promise of a digital upgrade. It's scooping up data from various sources like Amazon and Zillow, refreshing our inflation snapshot daily with a whopping 18 million data points.

This is a significant leap from the CPI's 80,000, aiming to capture the real-time state of economic affairs. (Cointelegraph 2023)

The push for real-time inflation tracking is about relevance. Real-time data could mean more accurate loan terms for consumers and better financial strategies for businesses.

The big question remains: will this transparency and frequency of updates translate into better economic decision-making for everyone?

The jury's still out, but the conversation is relevant.

Click HERE to read the full story from Cointelegraph.

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Get your mind out of the gutter — It’s the intersection of innovation and imagination.

Shout out to MacEwen Patterson from the Gauss and Decent Media teams for the segment name. 😉

Web3 Gaming Has a Chance: Illuvium Launching on Epic Games Store This Month

Buckle up, because I’ve got a scoop on a game that's leveling up in style — Illuvium.

This isn't just another half-baked blockchain title; it's the one that's breaking the mold and catching eyes with its graphics, smooth gameplay, and launch platform. The game is built on the latest and greatest game engine, Unreal Engine 5.

Come November 28, it’s hitting the Epic Games Store!

Illuvium is serving up a menu of gaming genres, from open-world adventures to strategic auto battlers, and even a city-builder.

And the best part?

They’ve cut the red tape around blockchain operability and money-grab entry barriers, making it free to play and without the need for a web3 wallet.

It’s a bold move that might just be the cheat code for blockchain gaming to hit the mainstream gaming circles.

Illuvium is built on the Immutable X blockchain. Every asset in the game from weapons/armor to beasts you capture will be converted into on-chain possessions. If you choose to participate in the web3 aspect of the assets, you can do so with an Ethereum wallet.

I get major Fortnite vibes from this one. From aesthetic to business model this company is following a proven strategy in the gaming market.

So, mark your calendars and prep your PCs and mobiles, because it’s showtime for Illuvium on Epic Games Store.

Click HERE for a longer story on Illuvium from Cointelegraph.

Gaming Meets Artificial Intelligence: Xbox Will Integrate AI Storytelling

Xbox is switching gears and driving full throttle into AI territory with a fresh partnership that's set to change the gaming experience forever. By teaming up with Inworld AI, Xbox is crafting a new suite of AI tools aimed at elevating game dialogue to new heights.

Think NPCs who don't just spit out canned lines but weave stories dynamically with a lifelike twist. This is not just a step; it's a giant leap for in-game storytelling.

Imagine your favorite Skyrim character not just reciting their usual "I took an arrow to the knee," but responding to your every query with novel, context-aware banter. That's the level of immersion Xbox is aiming for by integrating Inworld’s AI smarts, making every in-game chat a potential adventure.

I figured this was the logical conclusion to AI in gaming and I am incredibly pumped to see where this goes!

Click HERE to read a longer story on this from Cointelegraph.

CryptoLink Connect

These guys make “cross-chain” as easy as opening Chain Reaction.

X Space with Hodlnomix

I promise Ethereum is launching soon.

The team is fine-tuning the little things to be perfect for launch day, allowing us to throw a proper launch party with the Pulse cats.

In the meantime, catch us in an X space tonight at 9PM EST!

Link below 👇

Final Byte: Wally’s Wisdom

Week 21 is in the books, and it wasn’t any less whacky than the preceding 20 weeks.

One thing I can tell you for certain is that there is a severe lack of quality in this space right now.

I have been co-hosting The Cigar Lounge (A Decent Production) and we have been on the hunt for good projects to interview on stage. Out of the last 25 pitches I have heard, only a handful have managed to save the audience from complete boredom.

Originality died in web3 18+ months ago. I’ll give the SocialFi people one thing, at least they tried something different. We can only have so many PFP projects in a market where people can barely afford their rent.

Keep your eyes peeled for the good ones. If you find them, let me know.

Until then, the projects that CryptoLink and I associate with are some of the few that have anything going in the right direction.

There is a light at the end of this tunnel, we just need to weather the nonsense for a bit longer.

Have a phenomenal Thursday and an even better weekend. I’ll see you back here in a week!


Marketing/Branding — CryptoLink.Tech
Co-Founder — Decent Media

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