Top Crypto Product Launches: Sep 24
Paymagic Labs
September 24th, 2021

📈 Past week’s Top Crypto Product Launches

Twitter launches crypto Tips on Bitcoin Lightning | 🔼 234

Robinhood rolling out full crypto wallet with transfers | 🔼 187

DeFi $DATA Index from Index Coop tracks Web3 Data Economy | 🔼 65

👇 More detail below

🤔 Why it Matters

The financial system of the Internet will be built on crypto and DeFi. Period. Twitter has strategically pushed into the creator economy recently (newsletters, ticketed spaces, etc) and Tip Jar is the latest feature, providing several payment options including Bitcoin payments over the Lightening network powered by Strike.

Twitter also announced NFT authentication of profile pictures, which appears to be the killer app of the recent NFT boom (reputation, flexing, tribal, speculation). Social media is the center of our digital lives today (until the Metaverse is ready) so having crypto payment rails and property rights (NFTs) embedded is going to be a space race amongst the different platforms, with Reddit and Twitter leading the way currently.

🤔 Why it Matters

The great Fintech+DeFi convergence is in motion and accelerating. Robinhood clearly sees crypto and DeFi as a valuable product segment, so I would expect them to add more and more functionality over time including access to DeFi yield, liquidity pools, NFTs, etc. In ~2-3 years, everyone will have a crypto wallet (or multiple) whether they know it or not. Regulatory environment pending of course.

🤔 Why it Matters

New DeFi investors, particularly institutions, want to bet on whole crypto sectors (L1s, NFTs, DeFi, Web3) and not sort through hundreds of tokens and pick some winners. Index funds provide a real solution to this problem, and Index Coop launched the $DATA index this week providing exposure to the growing Web3 Data Economy like Filecoin, Chainlink, The Graph, etc. Crypto will unlock totally new asset classes like cultural or social capital, and the capital help in data markets is largely untapped today except for advertising. Watch this trend over the next 2-3 years and if you want exposure to its growth, consider getting some $DATA yourself.

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