FUD FAQ | A Weekly Community Thread | Week 41

This post was originally published on digitalx

• When can we meet the first metaverse web3 models that will be part of the Realm Runway events and be launching their first NFTs on runway.digitalax.xyz?

Very very soon … and this is just so exciting. Holy shit, modeling is coming to web3!! Never did you ever think that you’d hear those words together.

To everyone ready for web3 and the metaverse to take off, the final boarding call for gated access to the only runway you need to concern yourself with is fast approaching.

• Why are the markets red? Why can’t the devs do something about it?

Well, prediction is a fools game, but, let’s take a look at some of the macro, micro and geo-political turmoil happening right now:

• Network congestion
• Mining hashrrate cut off in Kazakhstan
• Increase in militant totalitarian activity from Russia-China alliance
• Fed meeting signaling interest rate hikes
• Inflation
• Staking and stablecoins FUD
• SEC hostility
• Astroturf hostility from gaming, climate, web2, and similar groups

When the markets step back and process what’s happening, where it’s heading, what the fundamentals for demand, growth, feature dev, throughput increases, and infrastructure build out are, and how much novel utility is about to be unlocked by the IRL+ web3 metaverse and web3 fashion as ubiquitous wearable interfaces that showcase your status, story, and style… well, we think the markets are likely to remember why WGMI in a big, big way.

At the end of the day price charts are secondary markets detached from fundamentals— it’s a traders game, chasing social signals, always has been and likely will remain until tighter coupling with fundamentals is coded into savvier smart contracts, protocols and other coordination tooling.

DIGITALAX has and always will be a primary digital and IRL fabrication enabler, producer and economy builder. Number go up, number go down, we move forward.

Probably the biggest controversy this week is how and why Polygon experienced so much debilitating congestion, and a 10–20x gas cost spike. It was almost impossible to deploy smart contracts and even generally interact with the network. Is this the doom and gloom for layer 2s? Or, a sign of where significant gains can be made in throughput and reliability through tweaks to mechanism design.

Why Polygon was vulnerable to a single team of developers making some really baffling and bad decisions about how to structure the on-chain elements of their game.

There is still a long way to go with Ethereum scaling, but it is exciting to think about the days where there is huge optionality for layer 2s and multiple sharded PoS layer 1s in place with ETH2.0 leading the way.