🗿 Coinbase is Fighting for the Degens

GM. Gm. gm. A relatively quiet week out there on the world wide web. People could be outside touching grass, shoutout the Sun.

Calm before the summer storm maybe? Onchain summer is coming and Coinbase may have just toppled the first domino.

Without Further Ado. ☕ *knuckle cracks* ☕ Let’s get into it.

Why Coinbase Smart Wallets are More Important than They Seem

This past week, Coinbase announced the next step in their master plan to get 1B users onchain – Smart Wallets. 

This will allow devs to simplify the experience for everyone, which is key for bringing on normies. Here are some key features they think will do that:

• Allows smart wallets users to use their Coinbase balance without complex transfers to a self custody wallet.

• “Use a paymaster to create sponsorship policies for your app” aka let’s apps take care of gas fees for its users

• Password login - Onboard users in seconds with no seed phrases, passwords, or third party app installs.

All of this seems great, if it works, and is secure. Not much to add, good job Coinbase.

Now let’s talk about why this really matters. 

The market may be back, but the public perception is not. The FTX debacle is still on people’s minds, CZ is going to jail, and there just hasn’t been much of a push this year for real life utility. With the ETFs, people seem to have accepted crypto as a legitimate investment, but adding a little bit of diversification in blackrock’s portfolio doesn’t mean real blockchain adoption for the masses. Comedians were still giving it to Tom Brady during his roast, and the jokes landed. 

If you’ve been reading us for a while, you know that we believe in the web3 vision. You also know that we really really want people to stop saying buzzwords and just make applications work better for the user. 

Coinbase Smart Wallets might be a real step in that direction. The less “crypto” it looks, and the faster it works for the end user, the better.

Some dApps are solving real needs in the tech world, but the clumsiness of it all makes it impossible for them to get real traction. Most boomers can’t even figure out how to behave on instagram, you think you’re going to be able to explain to them how gas fees work? Okay maybe they aren’t the group that’s going to get us to mainstream adoption, but you get the picture. 

Just make apps that are better and faster at solving a user's needs, and they will use it. They won’t know it’s onchain, and they definitely won’t care. But we will. And that’s all that matters.

No Fomo News 📰

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Web3

• Unstoppable Domains and Blockchain.com Partner for DNS-Enabled Web3 Domain (BitcoinNews)

• Ethereum ETF launch date depends on issuers, not SEC — Gensler (CT)

Tech

• A social app for creatives, Cara grew from 40k to 650k users in a week because artists are fed up with Meta’s AI policies (TC)

• Netflix tests biggest TV app redesign in 10 years (Reuters)

AI App of the Week 💻

AI gets a lot of hype. But how does that help me?

This section is dedicated to No Fomo’s favorite AI tools.

We’ll try to fish for things that make your life easier. Or we’ll give honest, informative reviews of apps capturing Internet attention.

This Week’s App De Jour: Superlist

Superlist really does look super. It is powered by AI boasting features like offline mode, team collaboration features, app integrations, and more. Was an instant download for the NoFomo team. Check it out if you like getting stuff done. 

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.