Web 3 Gobsmacked as Meta Announces 47.5% Creator Fees

The Breakdown

Blockworks

Business, Investing

4.8 • 806 Ratings

🗓️ 16 April 2022

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, Arculus and FTX US. On this edition of the “Weekly Recap,” NLW explores whether large firms – either from traditional finance or big tech – can be good actors in the Web 3 space? He specifically explores BlackRock’s Circle investment, Meta’s fee announcement and Epic Games’ new funding to build its own metaverse. - From cash to crypto in no time with Nexo. Invest in hot coins and swap between exclusive pairs for cash back, earn up to 17% interest on your idle crypto assets and borrow against them for instant liquidity. Simple and secure. Head on to nexo.io and get started now. - Arculus™ is the next-gen cold storage wallet for your crypto. The sleek, metal Arculus Key™ Card authenticates with the Arculus Wallet™ App, providing a simpler, safer and more secure solution to store, send, receive, buy and swap your crypto. Buy now at amazon.com. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - Consensus 2022, the industry’s most influential event, is happening June 9–12 in Austin, Texas. If you’re looking to immerse yourself in the fast-moving world of crypto, Web 3 and NFTs, this is the festival experience for you. Use code BREAKDOWN to get 15% off your pass at www.coindesk.com/consensus2022. - Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Michael Nagle/Bloomberg via Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.1	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:15.0	The breakdown is sponsored by nexo.io, Arculus, and FtX, and produced and distributed by CoinDesk.
0:22.8	What's going on, guys? It is Saturday, April 16th, and that means it's time for the weekly recap.
0:29.0	Before we dig into that, however, a few housekeeping items. There are two ways to enjoy the breakdown.
0:35.5	You can listen on the Coin Desk Crypto Podcast Network feed, which
0:38.7	features the breakdown and other Coin desk shows. You can also listen on the breakdown only feed,
0:44.0	which has just the breakdown. Both come out on the same day, CoinDesk coming out in the
0:48.2	afternoon and breakdown in the evening. Whichever feed you listen on, if you are enjoying the show,
0:52.9	please go subscribe, rate, and review it.
0:56.0	And if you want to get deeper into the conversation, come join us on the Breakers Discord.
1:00.1	You can find a link in the show notes or go to bit.ly, that's LY slash breakdown pod.
1:05.4	Also, a disclosure, as always, in addition to them being a sponsor of the show, I also work with FTX.
1:11.8	And finally, if you haven't bought your tickets yet, I highly suggest you check out CoinDesk's
1:17.0	Consensus 2022, which this year is happening in Austin, Texas, between June 9th and June 12th.
1:23.9	The event has voices and topics representing a huge cross-section of the crypto space.
1:28.4	You've got your ZZs and SBFs, but also Punk 6-529 and Kathy Wood.
1:34.3	It should be a really, really good time.
1:36.7	If you're interested, you can use code breakdown for 15% off your ticket.
1:41.2	Check out coindesk.com slash consensus 2020.
1:46.0	All right. So the theme of this weekly recap is almost a question. It's a question of whether
1:52.8	the inevitable participation in the crypto industry, in Web 3, in the metaverse, from big
	...

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