PGF7T crypto info, Web3, NFTs, Dapps šŸ’„

PGF500 has a token on the Ethereum network, called PGF7T, which you can use to pay for subscriptions and services within the PGF500 platform.

You will need to have Metamask to pay with PGF7T token.

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We have chosen to adopt blockchain technology for the launch of 2 innovative decentralized Dapps.

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We believe in Web3 and in the strength of communities.

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.

.

The token is on the Ethereum smart contract 0x9fadea1aff842d407893e21dbd0e2017b4c287b6 ,

and the code is public atĀ https://etherscan.io/address/0x9fadea1aff842d407893e21dbd0e2017b4c287b6#code

.

QuickSwap smart contract:

0xdd0fDc648a9dbC9be5A735FE4561893a13399Da2

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šŸ”“Ā It is possible to buy and sell PGF7T tokens on Uniswap and QuickSwap Exchanges.

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Price:Ā  PGF7T

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Our NFTs

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Enjoy the Journey šŸš€

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PGF500 Team

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~~~

Web3 | summer reads, cool tools

1. Detecting ā€˜metamorphicā€™ smart contracts

Michael Blau

Smart contract code is supposed to be immutable once itā€™s deployed on blockchain, but in practice, you can create smart contracts that ā€œmetamorphoseā€ into something else.Ā (Imagine turning a token-staking contract into a token-stealing one, for instance!) Since this could undermine trust in web3 decentralized systems, a16z crypto engineering not only shares how the shape-shifting works, but also built a tool to analyze smart contracts for such ā€œmetamorphicā€ properties. While some metamorphic smart contracts may elude detection (or the detector could raise false positives), this tool is a useful first step for builders to understand and build on.
learn more about metamorphic contractsĀ /Ā use Detector toolĀ 

2. Zero-knowledge information sharing through ā€˜zkDocsā€™

Sam Ragsdale, Dan Boneh

Most blockchain transactions are public by design, but this can make them less favorable for relaying private information to institutions. For example: Does your mortgage lender getting your pay stubs really need to know all those detailsā€¦ or just verify that your salary actually meets their loan requirements? This is where zero-knowledge proofs ā€“ which allow us to cryptographically prove facts about information without revealing what the information is ā€“ come in. a16z crypto engineering (& research) demonstrates how zero-knowledge-enabled documents could improve on traditional, error-prone, inefficient verification workflows ā€” while preserving both privacy and decentralization.
learn more about zkDocsĀ /Ā watch demoĀ 

3. What can web3 (& other) organizations learn from the history of democratic governance?

Porter Smith, Andrew Hall

web3 has created a new “laboratoryā€ for democratic governance ā€” through widespread experimentation; fast iteration cycles; and unprecedented digital participation and blending of civic and corporate, public and private. To date, however, web3 governance has overly relied on direct democracy, leading to low participation and concerns about weak oversight, interest-group capture, and group decision-making. But these are also the same challenges societies and organizations have experienced for millenniaā€¦ So thereā€™s lots of room to borrow best practices from the history of governance (drawing on bothĀ research, and observations of these systems in practice), to build more effective systems today.
read article on ā€˜Lightspeed Democracyā€™ hereĀ 

4. Decentralized creativity & collaboration

Rob McElhenney, Chris Dixon, Sonal Chokshi

ā€œDecentralized mediaā€ and ā€œdecentralized content creationā€ are hot topics, but what does this really mean, how would it work in practiceā€¦ and does it even need web3?! In this first live taping of our podcast ‘web3 with a16z’ ā€” featuring special guest andĀ longtime writer, actor, executive producer Rob McElhenney (Itā€™s Always Sunny in Philadelphia,Ā Mythic Quest; Adim) ā€” we discuss decentralized creativity, collaboration, community; managing writerā€™s rooms, creator access; IP and NFTs; metaverse, storytelling across mediums; favorite TV shows, nostalgia, and more.
listen to the episode here

5. Some books weā€™re reading this summer

Covering everything from algorithms, cryptography, markets, and system design to time travel, space, food, and philosophy ā€“ hereā€™s a list of readings that members of the a16z crypto team are personally reading and recommending this summer. Whether youā€™re looking for vacation reads for education or for entertainment, whether you prefer non-fiction or fiction (or science fiction!)ā€¦ thereā€™s something on this list for everyone.
check out the list here

puzzling

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summer reads, cool tools

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PGF7T crypto info, Web3, NFTs, Dapps šŸš€

PGF500 has a token on the Ethereum network, called PGF7T, which you can use to pay for subscriptions and services within the PGF500 platform.

You will need to have Metamask to pay with PGF7T token.

.

We have chosen to adopt blockchain technology for the launch of 2 innovative decentralized Dapps.

.

We believe in Web3 and in the strength of communities.

.

.

.

The token is on the Ethereum smart contract 0x9fadea1aff842d407893e21dbd0e2017b4c287b6 ,

and the code is public atĀ https://etherscan.io/address/0x9fadea1aff842d407893e21dbd0e2017b4c287b6#code

.

QuickSwap smart contract:

0xdd0fDc648a9dbC9be5A735FE4561893a13399Da2

.

.

šŸ”“Ā It is possible to buy and sell PGF7T tokens on Uniswap and QuickSwap Exchanges.

.

Price:Ā  PGF7T

.

.

.

.

Our NFTs

.

Enjoy the Journey šŸš€

.

PGF500 Team

.

~~~

šŸ’„šŸ’„šŸ’„ Everything You Need to Know About Digital Asset Ownership in Web3 šŸ’Ž

As a kid, most of us were attached to our favorite stuffed animal, blanket or another inanimate object. Weā€™d carry it wherever we went. So much so, that it became part of our then identity.

Throughout our lives, our physical possessions become associated with our identity. You might be known for your collection of Marvel Cinematic Universe DVDs or baseball cards. You can prove theyā€™re yours and take them with you wherever you go.

But, this isnā€™t the case in todayā€™s internet because you donā€™t technically own any of your digital assets.

In Web2, true ownership does not exist, only leased ownership.

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What is a Digital Asset?

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To put simply, a digital asset is content that is stored electronically. So images, audio, videos, word documents, e-books, in-game items, domain names, or someoneā€™s account can be considered digital assets.

The real question is: who owns these digital assets?

Answer: Not yours. Itā€™s the platforms that you use.

Ownership in Web2 is a Myth

In Aaron Perzanowski and Chris Hoofnagleā€™s study, ā€œWhat We Buy When We Buy Nowā€, they found that 83% of people think they own digital goods in the same way they own physical ones ā€“ free to do as they please with it. Free to lend it, sell it, or give it away.

But the truth is, you donā€™t own any of your digital assets.

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There are two reasons ownership is a myth in Web2.

1. You borrow digital products on the internet.

When you lease an apartment, itā€™s clear that you donā€™t own the apartment. So you know that it cannot be sold to another person. Similarly, when you have a subscription to a platform like a streaming service, you understand that you donā€™t own any of the movies or tv shows.

But, what about when you buy digital products?

If you ever ā€œbuyā€ a song from iTunes music, an e-book from Amazon, or a movie from the Microsoft Store, you donā€™t actually own them. You just purchase a license to access them. One that is revocable by the company at any moment or permanently lost if your account is deleted.

The ā€œbuyā€ button for digital products is deceptive.

When you create a social media account like Instagram, you borrow the right to use the account in exchange for all your data. Do you remember when Facebook renamed itself ā€œMeta?Ā News storiesĀ discussed how Thea-Mai Baumann, an Australian artist and technologist, had the Instagram handle @Metaverse. On November 2nd, 2021, it was disabled around the same time Facebook rebranded. This was a decade of her lifeā€™s work that disappeared. Luckily, she got her account back, but this isnā€™t always the case.

Although most of your accounts online are free, you end up paying by giving up your data.

Thatā€™s not right.

You donā€™t own the digital assets you ā€œbuyā€ nor own the ā€œfreeā€ ones either.

True ownership means that your digital assets are not at the whims of the platforms.

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2. You cannot transfer ownership.

When you own the Marvel Cinematic Universe DVDs, you can decide to switch to becoming a DC fan and sell or give away your MCU collection to someone. You have the power to transfer ownership to them.

You canā€™t do that in Web2.

When you buy an ebook on the Kindle, your book is bound by both the platform, Amazon, and your account. You buy the license to use it and donā€™t even know. Itā€™s because Web2 companies want consumers to stay attached to their platform within their walled garden to maximize profit. So if you finish reading the ebook, you canā€™t let your friend have it unless they have access to your account.

Like in the real world, you should have the power to transfer ownership as you see fit!

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Hereā€™s a simple formula for ownership of your digital assets.

True Ownership = Proof of Ownership + Transferability of Ownership

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Web3 unlocks this formula for you.

Web3 Enables True Ownership of Digital Assets

We are living in the Digital Industrial Revolution.

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In Web2, the commercial goals of the largest internet platforms are at odds with their most essential contributors ā€” their users.

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We can envision a world where ownership of the internet is distributed. Ownership in Web3 means that the contributorsā€”Ā builders, operators, and usersā€”Ā own a piece of what they use.

Thanks to Web3, digital assets are recorded on the blockchain, so you can prove ownership. Also, you can transfer ownership of digital assets to someone else through secondary marketplaces or direct exchanges.

Since you can prove ownership and transfer that ownership, you gain true ownership of your digital assets in the next iteration of the internet.

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There are three digital assets that are currently revolutionizing ownership online.

1. Cryptocurrencies and Tokens

A cryptocurrency is a digitally-native currency that is secured by cryptography and operates on the blockchain, which makes it impossible to counterfeit or double-spend. Because cryptocurrencies are built on blockchain technology, there is a distributed ledger across disparate networks of computers that keeps up with each transaction.

Cryptocurrency can feel like a vague term. So letā€™s clarify.

A cryptocurrency is the native asset of a given blockchain. For example, some popular blockchains are Bitcoin, Ethereum, Cardano, and Avalanche, and their native assets (cryptocurrencies) are Bitcoin, ETH, ADA, and AVAX, respectively.

The distributed ledger allows you to prove ownership of your cryptocurrency (e.g. ETH) on the blockchain (Ethereum).

There are numerous ways to participate in any blockchain. You can be part of an NFT project, fund a Decentralized Autonomous Organization (DAO), or use decentralized applications (or dApps).

Most NFT projects, DAOs, and dApps have their own native token, which can be used to interact with them. For example, Bored Ape Yacht Club is an NFT project based on the Ethereum blockchain. The project team created a native token called ApeCoin, which was given to the NFT holders, ultimately transforming into a DAO. ApeCoin is a token used as both a governance token to vote on the direction of the project and used as a utility in its future ecosystem.

Since ApeCoin is a token on the Ethereum blockchain, you can:

  1. Prove ownership on the Ethereum blockchain

  2. Transfer ownership of the token by buying, selling or gifting.

The contributors become owners in Web3.

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2. Non-Fungible Tokens or NFTsĀ 

NFTs are one-of-a-kind, verifiable digital assets on the blockchain. It canā€™t be replaced with something else.

The use cases for NFTs are endless.

NFTs make it possible for gamers to own in-game items, have real estate in a metaverse, contribute to their favorite artists and much more!

Imagine if Stan Lee made the Marvel comic books into NFTs when he and the team started. You could read the comic books and have ownership early in its conception. Or, what if you listened to your favorite artists before they went mainstream. If they released their songs or album as an NFT, you could not only own the digital album, but prove you were a fan before everyone else was.

NFTs unlock the ability for true ownership of digital goods.

NFTs are an evolutionary step toward Web3 adoption as content online is increasingly created, operated, and owned by the users.

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3. NFT Domains

In the future, internet users will own digital property.

Matt Gould, Co-Founder and CEO of Unstoppable Domains states, ā€œThere is going to be a massive development around the amount of property and around the amount of stuff people own online over the next few decades.ā€

The Unstoppable Team believes your digital assets should be associated with your digital identity. But, in Web2, application silos make it impossible to own your holistic digital identity.

Domains in Web2 could have been a solution, but even domain names became a prime example of leased ownership. For example, the Top Level Domain (or TLD), .com, is owned by VeriSign. When you ā€œbuyā€ a .com domain name, you pay a registrar like GoDaddy. That registrar pays VeriSign to register your domain. After that, you must register and pay on a yearly basis.

A domain name should be your digital property that you own, not something you rent.

In Web3, itā€™s possible.

Say hello to NFT Domains.

At their simplest form, NFT domains are a digital name (example: Matt.nft) that exist as NFTs on the blockchain. They are unique to you and are stored in your wallet to provide special benefits that go far beyond traditional domains. It is a name to login everywhere you go. A name to pay and get paid with. A name to prove ownership of your data and digital assets.

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Everything You Need to Know About Digital Asset Ownership in Web3Ā 

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šŸ’Ž PGF7T crypto info, Web3, NFTs, Dapps šŸš€

PGF500 has a token on the Ethereum network, called PGF7T, which you can use to pay for subscriptions and services within the PGF500 platform.

You will need to have Metamask to pay with PGF7T token.

.

We have chosen to adopt blockchain technology for the launch of 2 innovative decentralized Dapps.

.

We believe in Web3 and in the strength of communities.

.

.

.

The token is on the Ethereum smart contract 0x9fadea1aff842d407893e21dbd0e2017b4c287b6 ,

and the code is public atĀ https://etherscan.io/address/0x9fadea1aff842d407893e21dbd0e2017b4c287b6#code

.

QuickSwap smart contract:

0xdd0fDc648a9dbC9be5A735FE4561893a13399Da2

.

.

šŸ”“Ā It is possible to buy and sell PGF7T tokens on Uniswap and QuickSwap Exchanges.

.

Price:Ā  PGF7T

.

.

.

.

Our NFTs

.

Enjoy the Journey šŸš€

.

PGF500 Team

.

~~~

šŸ”“šŸ”“šŸ”“ Why Build in Web3 šŸŽÆ

Todayā€™s dominant internet platforms are built on aggregating users and user data. As these platforms have grown, so has their ability to provide value ā€” thanks to the power ofĀ network effectsĀ ā€” which has enabled them toĀ stay ahead.

For example, Facebookā€™s (now Metaā€™s) data on user behavior helped it fine-tune its algorithms to a point that its content feed and ad targeting were dramatically better than what competitors could offer. Amazon, meanwhile, has exploited its broad view into customer demand to both optimize delivery logistics andĀ develop its own product lines. And YouTube has built a massive library of videos from a wide array of creators, enabling it to offer viewers content on almost any topic.

In these business models, locking in users and their data is a key source of competitive advantage. As a result, traditional internet platforms typically do not share data even in aggregate ā€” and they make it difficult for users to export their social graphs and other content. So, even if users grow dissatisfied with a given platform, itā€™s often not worth it to leave.

But all of this might be changing. While itā€™s hard for newcomers to challenge ā€œWeb 2.0ā€ companies like Meta on their own terms, now companies ā€” working in what theyā€™re calling a ā€œWeb3ā€ model ā€” are proposing a novel value proposition.

Despite all the public conversations around the metaverse and various hyper-financialized NFT projects,Ā Web3, more than anything, is aĀ fundamentally different approachĀ that some developers have agreed to. Itā€™s based on the premise that thereā€™s an alternative to exploiting users for data to make money ā€” and that instead, building open platforms that share value with users directly will create more value for everyone, including the platform.

In Web3, instead of platforms having full control of the underlying data, users typicallyĀ ownĀ whatever content they haveĀ createdĀ (such as posts or videos), as well as digital objects they have purchased.

Moreover, these digital assets are typically created according to interoperable standards on public blockchains, instead of being privately hosted on a companyā€™s servers. This makes the assets ā€œportable,ā€ in the sense that a user can, in principle, leave any given platform whenever they want by unplugging from that app and moving ā€” along with their data ā€” to another one.

Why Build in Web3

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šŸ“A Business Model for the Blockchain Web šŸ’„šŸ’„šŸ’„

Royalty-integrated equity (RIE) is a form of equity that the blockchain enables which addresses both shifting business incentives away from pure profits and growth, and also can create a more accessible form of capital ownership.

Simply put, RIE is aĀ fungibleĀ token that integrates royalty payments on transfer. In other words, RIE creates shares of stock in companies that can pay small royalty fees back to their respective companies when they are traded. How does this work?

Currently, there is aĀ standardĀ for NFTs to be built withĀ royalties: a function in their smart contracts that pay back small percentages to the original creators. This could be implemented in cryptocurrency tokens, taking the royalty from the payment for transferring the tokens. So when a token is traded on an exchange, a small fee is paid back to the token issuer (and likely the exchange).

With RIE, buying shares in a company would mean not just investing in that companyā€™s stock, but sending money directly to them in the process.


Previously, I wrote about theĀ Blockchain Web, a concept for applying blockchain to improve current internet services. This sequel models an alternate vision of monetization and financial success for businesses in the Blockchain Web, leveraging the new technology.

Notably, this does not include DeFi solutions, but rather follows a different line of economic incentives. Iā€™ll discuss the current economic environment and the alternate vision from web3. With these in mind, we can look at how a new form of equityā€”combining aspects of current company equity and the emerging tokenomicsā€”can shift incentives to more stable, useful and better distributed outcomes.

Todayā€™s Economic Model

The internet business model is as capitalist as it gets, with a severe prejudice for growth over anything else, be it in user numbers, usage statistics, or profits. This is demonstrated in companies like Facebook or Apple being measured by their growth in usage and ad revenues. InĀ The Nature and Logic of Capitalism, Robert L. Heilbroner points out how central to capitalism is ā€œthe use of wealth in various concrete forms, not as an end in itself, but as a means for gathering more wealth.ā€ As the internet companies follow this constant drive for more and to be bigger, they dominate: Big Tech has become the oligarchical ruling class of the internet ecosystem.

Heilbroner describes how this affects dynamics of the members within this ecosystem:

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A Business Model for the Blockchain Web

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šŸ’ŽšŸ’ŽšŸ’Ž PGF7T crypto info, Web3, NFTs, Dapps šŸš€

PGF500 has a token on the Ethereum network, called PGF7T, which you can use to pay for subscriptions and services within the PGF500 platform.

You will need to have Metamask to pay with PGF7T token.

.

We have chosen to adopt blockchain technology for the launch of 2 innovative decentralized Dapps.

.

We believe in Web3 and in the strength of communities.

.

.

.

The token is on the Ethereum smart contract 0x9fadea1aff842d407893e21dbd0e2017b4c287b6 ,

and the code is public atĀ https://etherscan.io/address/0x9fadea1aff842d407893e21dbd0e2017b4c287b6#code

.

QuickSwap smart contract:

0xdd0fDc648a9dbC9be5A735FE4561893a13399Da2

.

.

šŸ”“Ā It is possible to buy and sell PGF7T tokens on Uniswap and QuickSwap Exchanges.

.

Price:Ā  PGF7T

.

.

.

.

Our NFTs

.

Enjoy the Journey šŸš€

.

PGF500 Team

.

~~~

šŸ’ŽšŸ’ŽšŸ’Ž PGF7T crypto info, Web3, NFTs, Dapps, Ownership, ENS šŸš€

PGF500 has a token on the Ethereum network, called PGF7T, which you can use to pay for subscriptions and services within the PGF500 platform.

You will need to have Metamask to pay with PGF7T token.

.

We have chosen to adopt blockchain technology for the launch of 2 innovative decentralized Dapps.

.

We believe in Web3 and in the strength of communities.

.

.

.

The token is on the Ethereum smart contract 0x9fadea1aff842d407893e21dbd0e2017b4c287b6 ,

and the code is public atĀ https://etherscan.io/address/0x9fadea1aff842d407893e21dbd0e2017b4c287b6#code

.

QuickSwap smart contract:

0xdd0fDc648a9dbC9be5A735FE4561893a13399Da2

.

.

šŸ”“Ā It is possible to buy and sell PGF7T tokens on Uniswap and QuickSwap Exchanges.

.

Price:Ā  PGF7T

.

.

.

.

Our NFTs

.

Enjoy the Journey šŸš€

.

PGF500 Team

.

~~~