Welcome to GM, BFF, a newsletter hitting your inbox every week with key insights from web3, crypto and our community. Subscribe to get this newsletter in your inbox every week.
When 21-year-old Natalia Murillo started fundraising for Koop, a protocol that helps NFT projects build engaged communities, potential investors often assumed she dropped out of college because of all the potential she saw in Web3.
That wasn’t the case.
“I couldn't afford to stay in college,” she told BFF, referring to the $100,000 in loans she personally would have to take out to complete her degree. “It's those life experiences and those perspectives that lead you to solve different problems and look at things in a different way.”
As a first-generation American and the daughter to Colombian and Argentine parents, Murillo doesn’t think she is alone in having a unique perspective as an entrepreneur building in Web3. In fact, she thinks many more Hispanic and Latinx entrepreneurs should consider what they can offer in the growing landscape.
While adoption of cryptocurrency is more widespread among the U.S. Hispanic population, the number of entrepreneurs in the space remains small. Murillo believes that can change the more we put the spotlight on Hispanic entrepreneurs like herself already jumping into Web3.
“With a lot of other Hispanic friends that I have in this space, I really encourage them not to follow along with the trending narrative,” she said. “Your whole life is actually what makes you so special in a space that's so early like crypto is today.”
In honor of Hispanic Heritage Month, BFF profiled just a few of the prominent Hispanic and Latinx creators breaking barriers in Web3.
Markets plunge on rate hike. Last week The Federal Reserve raised interest rates by another 75 basis points, generally leading to market mayhem for Bitcoin, Ethereum and the broader stock market. This likely won’t be the last time that we will see a rate hike in the near future, leading many experts to believe that market conditions will get worse before they get better.
Surge on Solana. While Ethereum is the most popular blockchain for NFTs, NFT transactions on the Solana network are at an all-time high. The increase is largely organic and may not be related to the dip in NFT transactions seen recently on Ethereum.
The first crypto mobile provider? Crypto-backed wireless network Helium is partnering with TMobile to introduce its mobile 5G service to more users. Plans will start at just $5 per month, and users can also optionally earn crypto token rewards for sharing data.
Hardware wallets for the masses. Ledger hardware wallets are now available in 900 Best Buy stores across the country, providing an opportunity for more people to deepen their connection to crypto and the blockchain.
WTF Is… A Crypto Wallet
A digital dollar. After issuing a slew of new reports on crypto regulation, the Biden administration is moving closer to developing a central bank digital currency, known as the digital dollar. Central bank digital currencies would be a direct liability of the Federal Reserve, not a commercial bank.
NASDAQ pushes into crypto. The second-largest stock exchange is preparing its biggest play into cryptocurrency yet by offering a custody product for bitcoin and ether aimed at institutional investors.
Where is Do Kwon? South Korean authorities have asked Interpol to help locate and arrest Terraform Labs cofounder and CEO Do Kwon for allegedly not cooperating with the investigation into the collapse of the company’s stablecoins. Meanwhile: California Governor Gavin Newsom vetoed a crypto regulation bill that would have banned certain types of algorithmic stablecoins for two years.
WTF Is... A Stablecoin
BFF Clubs. We’re deepening our member experience for holders with BFF Clubs, a brand new cohort of communities that will grant you access to exclusive educational content, intimate workshops, like-minded connections, community directories, special perks + more. We’ve created our initial release of clubs for those who are interested in starting and scaling a business or side hustle (BFF Entrepreneurs), learning to code & read smart contracts (Coders) and getting creative with your BFFs (Creatives). Learn more in Discord.
More charms, more access 💎. If you’ve held your BFF Bracelet since our You PFP mint in April, congratulations—it spawned a new charm last week! Charms are a fun way to recognize our most loyal & active members. Once a bracelet earns 12 of 15 possible charms, it is considered “stacked.” A stacked bracelet will begin a new journey on BFF’s 1 year anniversary in January❗️👀 At this time, holders can expect an evolution in their BFF membership and an exciting expansion of our roadmap.
Co-Founders Brit Morin and Jaime Schmidt spoke to Forbes about what we’re building at BFF and the opportunities to bring more women and non-binary people into Web3. “Remember, we are so early. Only a single-digit percentage of the world knows what crypto and Web3 are,” said Brit.
Illustrator of our You collection Jade Purple Brown will have her artwork featured in Sephora’s biggest beauty event of the year – SEPHORiA: Virtual House of Beauty.
WomenRise NFT Creator Maliha Abidi reimagined the iconic Chicago Bulls logo for the team's NFT drop on Coinbase.
Chief Metaverse Officer Cathy Hackl unpacks how brands should be thinking about the metaverse at AdWeek’s BrandWeek. “Your brand’s DNA must be reimagined for the metaverse. It’s not an IRL copy.”
CEO And Podcast Host of Online Marketing Made Easy Amy Porterfield discusses the trend of successful women quitting their jobs with Fox News. “Women are reevaluating their lives. They are not just looking for a paycheck, but their mental and physical health.”
Thanks for reading! We’d love to hear from you. Feel free to let us know what you think of this newsletter and what you’d like to see from it in the future by replying directly.
This newsletter and all the information in it does not constitute financial advice. If you don’t want to invest money or time in Web3, you don’t have to. As always: Do your own research.
