Hey ,

Welcome to another edition of The Scoop. The Scoop is the moment you realize that two of your favourite things, YouTube and Web3, are on a collision course.

The Big Scoop

As with any given week in Web3, things are changing rapidly once again. Users of a certain vintage might be thinking about the fact that legacy peer-to-peer music sharing platform Napster is officially entering the Web3 space.

That media convergence isn’t just limited to audio, because it sounds like YouTube is going to do the same thing. The new CEO happens to love Web3 and thinks there are many use cases for NFTs and the metaverse that could tie in directly to the platform in the future.

On top of that, Abu Dhabi is putting another $2 BILLION into Web3.

All that and more equals two billion-plus reasons to read The Scoop!

The News

The New Youtube CEO LOVES Web3

Hold on to your seats, folks, because the Google-owned streaming platform YouTube just got a whole lot more exciting!

Former Chief Product Officer Neal Mohan has taken over as the new CEO, succeeding Susan Wojcicki, and this is fantastic news for all the supporters of Web3 technologies out there!

In her blog post announcing her departure, Wojcicki praised Mohan for his instrumental role in launching products like YouTube TV and YouTube Music, and expressed confidence that he will make a great leader. 

She also commended Mohan for his comprehensive understanding of YouTube as both a business and a platform for communities to come together, stating that he has a deep understanding of the product, business, creator and user communities, and employees of the company.

The popularity and reach of YouTube, one of the world's most popular websites, cannot be overstated, with 74.8 billion average monthly visits from September to November last year, ranking only behind Google in terms of use, according to Statista.

During his years of putting together YouTube's offerings, Neal Mohan has maintained an open-minded approach to the evolution of the internet and its various platforms. In a blog post last year, he revealed that YouTube was exploring ways to potentially incorporate Web3 technology, such as by making the platform more immersive by leveraging the metaverse or by utilizing technology such as NFTs.

“We believe new technologies like blockchain and NFTs can allow creators to build deeper relationships with their fans,” Mohan wrote. “There’s a lot to consider in making sure we approach these new technologies responsibly, but we think there’s incredible potential as well.”

He also wrote that NFTs could be a “verifiable way for fans to own unique videos, photos, art, and even experiences from their favourite creators,” adding it would allow creators and audiences to collaborate in new ways.”

Abu Dhabi Launches $2 Billion Web 3 Initiative

Exciting news from Abu Dhabi's tech ecosystem! Hub71 is on a mission to supercharge startups focused on Web3 and blockchain technology with a massive $2 billion program.

Dubbed as Hub71+ Digital Assets ecosystem, this initiative will offer endless opportunities, from partnering with corporations, governments, and investors to relocating to Abu Dhabi and growing your startup in both the Middle East and global markets. It's going to be a wild ride!

Located in the Abu Dhabi Global Market financial district, this exciting program will be headquartered at Hub71 and anchored by FABRIC, the research and development hub of the First Abu Dhabi Bank (FAB), along with other top-notch crypto exchanges and service providers.

And if you're wondering whether Abu Dhabi is crypto-friendly, well, the city has been pretty bullish on the industry for a while now.

News Flash

We have been getting a ton of requests from you all to keep providing that "Juicy" news that you might have missed out on. Below are news findings from last week all recapped in a nice list for you all to read! We hope you like this new edition the news letter! 

Chart.

For the first time ever, Blur saw more Ethereum trade hands than OpenSea over the last week. The chart below from Dune Analytics gives you a summary of how the volume breaks down for all the top marketplaces over the past week.

The Chart section of The Scoop is for everyone who prefers to listen to audiobooks or fill-in colouring books over text-based reading. Feast your eyes🍗👀

Fundraising In Web3.

 Here’s a breakdown of the big money/fiat/gwei that got poured into Web3 recently 💵💲🤑💸💰:

• Web3 gaming ecosystem Fastex raises over $23 million.

• Legacy music sharing brand Napster raises eight figures to move into Web3.

• Web3 social wallet Wallet Tribes raises $3.3 million.

Education.

Welcome to the Study Space, where you can become an expert on NFT royalties by recognizing where they started and how they are evolving.🧠

Here’s a good explanation of how royalties work (and sometimes don’t) from November of last year.

• How NFT Royalties Work, and Sometimes Don’t

Scoop Meme

The Final Scoop

If you’ve been around Web3 long enough (and you probably have), you could probably see this coming. The lines between old-school Web2 platforms and Web3 are continuing to blur. Web3 will eventually seep into everything we do. We’ve always believed that and that’s why we think making you the owner in this digital economy is the most important thing.

Eventually we’ll get to a point where certain ideas in Web3 will become the old-school and there will be some wacky version of Web4 that will converge with it. But let’s not get too far ahead of ourselves.

Web3 continues to evolve, even when it’s not stealing the headlines every week for price pumps or fads that come and go.

Keep your Web3 wheels greased, we’re moving at WARP speed baby!

Share The Scoop

Please help us share the Scoop. There are over 12,000 of you on this list. If everyone just got three more people onto the list, we’d be reaching 36,000 people, and the writer of The Scoop might be able to get his mama a new pair of shoes.👡

Thanks again for reading and see you again next week!