Adidas > Nike.

Adidas just released the next stage in "ALTS by adidas." Here is what it means and why @indigo_herz is a significant move in web3.

First, let's enjoy the trailer.

https://twitter.com/indigo_herz/status/1645843773941850112?s=20

While everyone else started with an NFT and made merch a "utility," Adidas went the other way back in 2022.

They kicked off the first phase of their "ITM" NFT with a merch claim and built from there.

Back then, they partnered up with @punkscomic, @BoredApeYC, and @gmoneyNFT.

Along the journey, we also saw digital wearables. Adidas focuses on a holistic web3 strategy.

To bring their web3 strategy to life, Adidas created "Three Stripes Studio."

Today we got the announcement everyone was waiting for: An explanation of how "ALTs by adidas" will work.

ALTs by adidas is a dynamic NFT collection with three chapters. At the end of Chapter 3, you will get a PFP.  Your decisions and engagement will affect your PFP.

What we know so far:

- There will be 8 different ALT[er] egos with different rarities
- Besides general utility, there will also personalized utilities will be based on your decisions and traits.

If you want to read more on the Adidas ecosystem, I recommend this fantastic thread by @NFTEINSTEIN.

https://twitter.com/NFTEINSTEIN/status/1642859559206408192?s=20

You can read the unrolled version of this thread here: https://typefully.com/Legendary_NFT/Ry95Afo

Adidas Releases Next Stage in "ALTS by Adidas"

NFTs are dead? Quite the opposite: 315 brands launched more than 500 Web3 projects in 2022 and Q1 2023, according to a report by @nfttech that was just released.

Here are five main takeaways. 🧵👇

1) Here are the 3 top reasons why brands dive into web3

- Deliver a unique experience
- Engage customers
- Resurrect archived IP

I found number 3 surprising, but it makes from experimenting with web3 and not using the primary IP first.

2) Real-world adoption is coming (I love it!):

"The most notable increase in interest is in NFTs, which
received 27 trademark applications in 2020 and 7,747 in
2022."

Or, to put it in degen terms: That is a 287x.

3) Of the 149 companies where market cap data is available, only 12 were valued under $1B.

We are experiencing real-world adaption mainly driven by large corporations and household names.

This will accelerate adoption even more.

4) NFTs are the go-to technology to drive adoption.

Quoting from the report: "NFTs are being adopted at a significantly faster pace than cryptocurrencies despite the total crypto market cap being almost 70 times greater than the total NFT market cap."

5) EVM-compatible blockchains are dominating.

The report said, "118 of the 287 brands to launch a blockchain project chose Ethereum and 79 picked Polygon."



Massive credits to @nfttech for the more than 1000 hours of research to make this report possible.

Here's the full announcement and report. 👇

https://twitter.com/nfttech/status/1645784275948826625?s=20

NFTs and Web3 Projects: Key Takeaways from Latest Report

Breaking: Twitter updated the "For You" timeline algorithm.


Want to know how to optimize your tweets for maximum visibility? Read on. 👇

First things first: Massive credits to @xerocooleth for covering it so quickly. Xero shared the Github content here.

https://twitter.com/xerocooleth/status/1645141612098461700

I asked GPT-4 to have a look at this formula. It works by calculating a score for a tweet based on its potential engagements.

This score helps determine the tweet's rank in the "For You" timeline. Here's a step-by-step breakdown of how it works:

1.  Predict engagement probabilities:

For each engagement type (favorite, retweet, reply, etc.), the algorithm predicts the probability that a user will engage in that specific way.

2.  Calculate weighted engagement scores:

Each engagement type has a weight assigned to it, as provided in the update. To find the weighted score for each engagement, multiply the probability of that engagement by its weight.

3.  Sum the weighted engagement scores:

Add up all the weighted engagement scores to get the total score for the tweet.

The formula looks like this:

score = sum_i { (weight of engagement i) * (probability of engagement i) }

For example, if a tweet has the following predicted probabilities:

• Probability of favorite: 0.3
• Probability of retweet: 0.4
• Probability of reply: 0.1

And the weights are as follows:

• Weight of favorite: 0.5
• Weight of retweet: 1.0
• Weight of reply: 13.5

The score for this tweet would be:

score = (0.5 * 0.3) + (1.0 * 0.4) + (13.5 * 0.1) = 1.95

The higher the score, the more likely the tweet will be ranked higher in the "For You" timeline.

The algorithm considers various factors to predict engagement probabilities, such as the tweet's content, engagement history, and user relationships.


What can you do to improve your ranking?

1.  Focus on engagements:

Create content encouraging users to engage with your tweets. Retweets, replies, and favorites have the most weight in the ranking algorithm.

2.  Encourage profile visits:

Craft a compelling Twitter bio and share content that prompts users to visit your profile, as the algorithm considers good profile clicks as a positive signal.

3.  Utilize multimedia:

If possible, include videos in your tweets. The algorithm gives a small weight to video_playback50, meaning that users who watch at least half of the video in a tweet contribute to a higher ranking.

4.  Prompt quality conversation:

The algorithm rewards tweets that generate "good clicks". Share content that drives discussions and encourages users to participate in the conversation.

5.  Build relationships:

Encourage interactions with your audience, as the algorithm places a high value on replies that are engaged by the tweet author.

Thank you for your time. 💜

A like and retweet would make my day if you enjoyed this thread.

Please also subscribe to my newsletter for more deep dives. The last issue covers even more info on the Twitter algorithm.
https://purplethought.substack.com/

Twitter's new "For You" timeline algorithm

Back in June 2019, the Austrian Post released its first "Crypto Stamp", a physical stamp with an NFT as a digital twin, which in came in different rarities (read different colors).

Technically speaking, each Crypto Stamp came with access to its own ETH wallet and a bit of ETH on it to be able to pay transaction fees to move the stamp out. ETH traded in the range of $200- §300.

It was fascinating to see both the NFTs and physical stamps trading and observe the differences in the analogue and digital collectors' mindsets.

The following years brought two more iterations of the Crypto Stamp and adaptions to the technical framework. However, I am really excited about this year's release: Crypto Stamp Art.

First and foremost, a fellow Austrian @primal_cypher worked on the art by redesigning a historical stamp together with @Arprapu.

https://twitter.com/primal_cypher/status/1543976714744872964?s=20&t=iwcsLAUWipD1nKCA_60Ulg

Secondly, it is good to see that the Austrian post (@unserepost) decided to go digital first this year and focus on the NFT sale that will be accompanied by the physical stamps.

However, the goal was to create a purchase experience that is also accessible to people who are not crypto native in order not to exclude traditional philatelists. Here's where @tokapi_official comes into play.

Tokapi is an NFT marketplace that allows users to purchase NFTs directly with credit card. NFTs can be withdrawn to your own wallet. To reach mass adoption, I think hybrid platforms like this are necessary to service both Web2 and Web3 natives.
https://twitter.com/tokapi_official/status/1545075258536992768?s=20&t=iwcsLAUWipD1nKCA_60Ulg

Crypto Stamp Art

The first out of 8 weeks in the @arbitrum odyssey concluded yesterday. Week 2 focuses on @GMX_IO and @yieldprotocol. Here's a quick look at the tasks.

As always, we have full step by step guides, strategy breakdowns and additional tutorials in our @32dreams_ discord.

GMX comprises of 3 tasks: 
1.  Make a leveraged trade via https://gmx.io/trade

2.  Mint GLP via https://gmx.io/buy_glp https://gmx.io/buy_glp

3.  Do a swap on GMX via https://gmx.io/trade

Here's the official credential: https://galaxy.eco/credential/3254

For Yield do one of the three options below. 

1. Provide liquidity of $50 or above via https://app.yieldprotocol.com/pool

2.  Lend $50 or above via https://app.yieldprotocol.com/lend

3.  Borrow $100 or above via https://app.yieldprotocol.com/borrow

Here's the official credential: https://galaxy.eco/credential/3253

You will have to complete these tasks between June 28 2022, 1300 EST to July 04 2022, 1259 EST. Don't start early, it won't count.

If you are new to @arbitrum or Layer 2 solutions in general, and want to seize additional opportunities such as airdrops while being provided step-by-step guides, you can mint our Airdrop Szn 1 Pass on 32dreams.xyz which is valid until the end of 2022.

Here is some of the feedback we got so far. Also, none of our tokens are listed for sale on @opensea. This makes me particularly proud as a founder.

Arbitrum Odyssey: Week 2

It is impressive to see how diligently @HopProtocol and their community handled the $HOP airdrop and how much effort they put in to find an exclude airdrop farmers, bot networks and sybil attacks. Here is what they did. 👇 

After crunching data for two months, they were able to identify 10k Sybil attackers out of 45k eligible addresses. Subsequently, HOP invited their community help finding sybil attackers.

Everyone was able to post reports on their @github page explaining the methodology they used to identify malicious farmers. 

Two criteria applied for these reports:
• Each report must eliminate a minimum of 20 related addresses

• Reports must show high-quality research and be easy to verify by the Hop Labs team.

The beauty about this is that successful reports were awarded 25% of the saved $HOP (subject to a one-year lockup). Moreover, sybil attackers could turn themselves in and still get 25% of their airdrop.

The reports are quite extensive to read and often visualized first- and second degree connections between wallets: https://github.com/hop-protocol/hop-airdrop/issues/192

A clear pattern shows, where a single address funds multiple fresh wallets who were used to "farm" the airdrop.

Other data points included secondary connections where a wallet funds a series of other wallets who each send their funds to another wallet which then proceeds to farm the airdrop as well as the timing of transactions and the amount sent.

Bot networks sometimes initiated their bridging transactions at the same time bridging the very same amount which served as another indicator for malicious activity.

Closing thoughts: I am very impressed by the approach that @HopProtocol took & hope that other airdrops took notes. For every project is vital to only reward genuine users and what better way is there to do this than involve your community in the hunt for sybil attackers.

You can read the unrolled version of this thread here: https://typefully.com/Legendary_NFT/iTR2TvS

$HOP airdrop: How to reward genuine users

With the merge, $ETH will soon transition to proof-of-stake making it the most crucial Ethereum upgrade by far and reducing energy consumption by more than 99%.

Here are some of the most common misconceptions around the merge according to an article on @ethdotorg. 


🚫 It takes 32 ETH to run a node.
✅  Anyone can run a node. However, staking 32 ETH is needed for block proposing notes (i.e. notes that can earn block rewards).


🚫 Gas fees will go down immediately after the merge.
✅ The merge changes the consensus mechanism and doesn't scale network capacity. However, ETH's roadmap to scale  its capacity relies on the merge happening first.


🚫 After the merge, transaction speed increases drastically.
✅ Post merge, a new block will be issued exactly every 12 seconds as opposed to an average 13 seconds right now. However, this and similar changes won't be noticeable. 



🚫 Liquid ETH rewards can only be withdrawn after the first post-merge upgrade (Shanghai).
✅ Fee tips/MEV rewards for block proposals will be available immediately after the merge.




🚫 When ETH reward withdraws are enabled, everyone will claim their rewards at the same time. 
✅ There is a protocol limit. Only six validators can exit per epoch (6.4 minutes) which roughly equals 43k ETH per day out of more than 10M ETH staked.


🚫 After the merge, the staking APY will triple. 
✅ Current predictions except a 50% increase in APY due to reallocating transaction fees from miners to validators. 



🚫 To execute the merge, the ETH network activity will be interrupted.
✅ The upgrade will be performed with no downtime at all.


For more information on the merge and on these misconceptions, please go here: https://ethereum.org/en/upgrades/merge/

ETH Merge: Common misconceptions

We made it to 7. Don't give up now.

1. Crypto community innovates
2. Word of mouth spreads
3. First institutional players join
4. Crypto welcomes them
5. Institutions pump, retail follows
6. Peak & trend reversal
7. Cathartic momentum & bear 
8. Rinse and repeat 



Don't give up now, even though nobody can know, how long the bear market will last. Also, it is helpful to zoom out. @garyvee beautifully said at @veecon that we are not only early in Web3, but those who will be around for the next years, will be the first to Web4.

Web3 certainly isn't the end of innovation. If you are committed to this space, stay active, educate yourself, you will be first to see nascent innovation and benefit from that.

Times like this are also better opportunities than ever to invest in yourself, and learn a new skill. No matter what the market does, nobody can take away from you what you learned. I think Web3 specific skills and understanding are an excellent starting point.

Having another look at the status quo, more and more infrastructure is built around Web3 requiring a higher and higher transaction volume. This is where L2 solutions like @arbitrum or @optimismPBC come into play. They allow to scale $ETH's transaction throughput.

For that reason, @BCheque1 and I have launched our educational course on L2 solutions as part of what we are building with @32dreams_. We call it #Airdrop Szn.

In addition, to learning about L2 solutions, we also actively look for airdrop opportunities, as many projects and even L2s chose to move their governance into their hands of their communities and reward early explorers with retroactive airdrops.


If you want to join us, please come to our discord: https://discord.gg/XVEzdReh3T

Market cycles

Now that the bear market is here, there's a couple of things that are helpful to make it through. A thread. 🧵 👇 

First of all, it is crucial to get an overview of your portfolio, your sources of income, and your expenses. Figure out a budget and more importantly you runway: How long will you be able to make it through the bear market without selling NFTs/ETH at your current burn rate?

Obviously, you can either look at cuttings costs, increasing your current income or finding additional sources of recurring income. Whatever it takes, you want to be able to make it through the bear market and be in a good position for the next numbas go up cycle.

The foundation for fortunes is laid in bear markets. If you are in a position, where you can afford to buy ETH, don't try to time the bottom. It will almost never work. DCA (Dollar Cost Average) your way into more ETH by running a recurring savings plan.

If you think to buy more NFTs during this turmoil, ask yourself a couple of things.
- Does the team have the war chest to make it through a long bear market?
- Do they have the conviction to stay around & build?
- What is their track record?
- What is the community sentiment?

You can also use the same set of questions to evaluate your current NFT holdings and re-think if you really want to hold on to all the low conviction plays in your NFT portfolio.

In German, we have a saying: Lieber ein Ende mit Schrecken als ein Schrecken ohne Ende. A shocking end is better than a never ending shock. Selling a low conviction play might be painful but might be necessary. 

In addition, activity will calm down & people with haver more time & also probably spend more time at home in a bear market/recession. Here's the most important advice: Use that time wisely. Learn sth new. A token might go to zero, but nobody can take your learnings away.

If you are a builder in this market, it is the perfect time to align yourself with other builders who are still around a continue building your community. The people you can onboard now, have the highest resilience. They won't be scared away at the next dip or crash.

On a personal note, @BCheque1 and I launched our own project yesterday: An educational NFT on @32dreams_ with the goal to educate people on Layer 2 solutions and combine that with potential airdrop opportunities. We decided to keep the sale open and grow steadily from here.

@BCheque1 summed it up perfectly. I salute everyone who didn't get scared away and still continues building or starts building in an environment like this.
https://twitter.com/BCheque1/status/1536379481916571648?s=20&t=6EdBzN9I1pSNnGl2BYbGmQ

You can read the unrolled version of this thread here: https://typefully.com/Legendary_NFT/1j7haGx

Bear market

This week we launched our @PREMINT_NFT whitelist for @32dreams_ starting with zero entries. Today, we closed & collected a total of 2.4k WL together with our private WL round. Time to take a breather and reflect on what was one of the busiest weeks ever. Here's what happened. 👇 

We kicked off the week as usual, by recording our podcast NFT World. Besides free mints, we discussed our five main challenges working on Airdrop Szn in quite some detail. https://twitter.com/32dreams_/status/1534160424245022721?s=20&t=vIRfLOb6nOnT0ETMCxhnGg 

Moreover, @BCheque1 also dedicated one of his papers to those challenges. One of the key takeaways is the importance of customer interaction. We both spent a lot of time in one on one conversations in our DMs collecting feedback & discussing our product.

https://bcheque.substack.com/p/paper-22-the-week-before-launch?s=r

I appreciated every single conversation that I had. The main reason: People are insanely busy these days and have a lot of things they potentially could spend their time on, yet they chose to talk to me about what I am building. WOW!

To scale up things, we combined two giveaways for Airdrop Szn with Twitter Spaces, where we could interact with our own community for the first time in spoken form, answer frequently asked questions, gathering more feedback and getting an actual feel for "our" people.

@BCheque1 used that feedback and crafted a beautiful trailer for Airdrop Szn to give an elevator pitch on our product. https://twitter.com/32dreams_/status/1535033501854191653?s=20&t=vIRfLOb6nOnT0ETMCxhnGg

At this time, we had created written content, podcasts, Twitter Spaces, video content, and a preview of one the walkthroughs we will provide to our community. It is important to understand the diversity in our audience and create different kinds of content.

Parallel to our content production, we both kept engaging in as many conversations as possible, making sure to reply to anyone having questions on our product, no matter how in-depth or critical they were.

In addition, we reached out to projects participating in the Arbitrum Odyssey campaign and told them about the educational product we are building. Despite the massive time constraint, we managed to get to talk to a couple of founders and builders.

We had great conversations with @ideamarket_io and @BattleFlyGame. We were particularly excited to welcome BattleFly Founders into our community via WL. The most important things when it comes to working with other communities is mutual value creation.

https://twitter.com/32dreams_/status/1535304468027301889?s=20&t=vIRfLOb6nOnT0ETMCxhnGg


Our effort started to pay off. By Friday, we have reached over 1k entries on @PREMINT_NFT and even secured a space in the top 10 of Collector Pass collabs.

https://twitter.com/Legendary_NFT/status/1535177527995531264?s=20&t=vIRfLOb6nOnT0ETMCxhnGg

So far, we didn't spend a dime on marketing & managed to create quite some organic reach. To finish the week, we wanted to get broader exposure in a genuine way & decided to sponsor NFT Morning Alpa by @piovincenzo_ & do an interview on their daily show.

https://twitter.com/32dreams_/status/1535245548718014465?s=20&t=vIRfLOb6nOnT0ETMCxhnGg

Imo, @piovincenzo_ runs one of the most professionally structured daily shows on Twitter and we felt like we could provide value to their community. Again, my marketing approach is always value based.

By now, we had more than 7k people listening to the space and the recording as well as countless people following up with us wanting to learn more about Airdrop Szn. In marketing, I always like to go organic first, explore how far you can get and then add paid elements if needed.

This approach ensures that you have the experience and understanding of your community/audience to spend your marketing budget as meaningful as possible.

Today, we closed the WL at 2.4k entries.

Besides content creation and marketing, our third area of focus was working with @KingmakerEth on finalizing and deploying our smart contract for the mint. Working with King has been an amazing experience. He is one of the most communicative devs I know in this space.

As a founder (with a bit of an understanding of smart contracts), I wanted to make sure to understand "my own" smart contract as good as possible. After all, it is a key part of the first impression a project creates in Web3. Thank you for taking your time, @KingmakerEth!

The contract is already deployed. That alone felt amazing: https://etherscan.io/address/0x134707d2208f12a6404d23f0ae24d2a55e9f2a1a#code

Tomorrow, it's game day. The WL mint will start at 8AM EST and stay open until 8PM EST. The mint will happen on our official website: https://www.32dreams.xyz/

You can read the unrolled version of this thread here: https://typefully.com/Legendary_NFT/qtUnKGd