Here’s what’s new and what caught my eye this week:

SECOND DAY TAKES ON TWITTER AND MUSK: I’m assuming you know Elon Musk bought nearly 10% of Twitter and ended up on the board (NEWSFLASH – and then backtracked). Lots of digital ink flowed, but I particularly liked Platformer’s take, which does not bode well for CEO Agrawal. Napkin Math thinks Twitter is now a “meme stock,” a legit new way to make money. But Max Read’s post had the best insight of all:

Musk, like Donald Trump and Logan Paul and a handful of other black holes of energy and attention, grasps in an instinctive way the logic of social media: power and money are a product of attention, attention is accumulated by being annoying, being annoying is enabled by speech protections.

As for me, I’m just glad that it might lead to an “Edit” function.

AXIE INFINITY HACK REVEALS HUGE HOLES IN WEB3: Axie Infinity is the poster child for Web3 play-to-earn gaming and the progenitor of the Axie DAO, designed to help users and builders on the popular platform. But a recent hack siphoned $625M of crypto from the network. Props to Axie developer SkyMavis for making hacked users whole as it rebuilds its internal “Ronin” blockchain. “Bugs are a natural law of software,” said investor Benedict Evans, but cautioned that crypto-based projects are bug-bounty schemes with dangerous ramifications. Here’s how they can build back better. Want to learn more about Axie? Vice has you covered.

NFTS ARE THE NEWEST VTUBERS: Move over Lil Miquela, CodeMiko, and Ironmouse. The apes and punks are moving in –– at least that’s what Conal Byrne, CEO of iHeartMedia’s Digital Audio group hopes. Byrne is building out the “Non-Fun Squad” by deriving characters from popular and emerging NFTs. WTF? I reached out to Conal for why, and he responded:

There’s huge creative potential in NFT technology –– not only as collectibles and communities –– but as the basis for new character and content IP, too. Bringing some of these to life in audio will be a blast –– and, we think, opens a whole new, innovative lane of podcast ‘talent’.

I’m excited to watch it unfold, as a new way for crypto-native characters to drive scripted entertainment. In a related story, Rex Woodbury explains how “Cryptomedia” will disrupt traditional media models.

GEN ALPHA IS A THING: OK, the fundamental premise of this story might be wrong because the cited research is focused on UK kids only and spans from 7 to 16 years old (arguably Gen Alpha is 10 and under). It also gathered its info from a panel of just 40 kids and broader users of the company’s bad web games. I’m also not sure I trust a consultancy named after an antiflatulent medication. But get ready for Gen Alpha. I can’t wait.

 

QUIBIS: 

CRYPTIS:

Making Millions from Creator-First Kids’ Entertainment. It used to be all about toys, but now it’s about way more than that. “Kidfluencers” like Ryan and Vlad & Nikki are top creators and money machines as well. Join Chris Williams, Founder and CEO of pocket.watch; Rob Fishman, co-founder of Brat TV; and Ashley Kaplan, SVP of Digital Studios at Nickelodeon at VidCon US 2022 as they share how kids are the new uber-creators and what the future looks like in the world of kids’ entertainment. Buy your tickets now!

 

Tip of the Week: This week’s tip comes from Albie Hecht, Chief Content Officer at pocket.watch:

  1. Pick your boss, not your job.
  2. You don’t stop playing because you get old, you get old because you stop playing.
  3. Do your best, and do it joyously.

What We’re Watching:

Special Bonus for LinkedIn Readers: I love this store name! It definitely made me go inside.

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(from my trip to Santiago de Compostela, Spain)

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