Adventure #5 - Satellite.im

Welcome to the 5th issue of web3adventures where I shed light on web3 businesses.

We’ll use a simple framework that covers:

(1) the company(2) the founding team(3) hiring and funding(4) why the business excites me

 Disclaimer: None of this is sponsored, I choose what to write about. This is not financial advice either!

Today we're looking into Satellite.im

The company

Satellite is a decentralized messaging communications platform that enables p2p private messaging. Here's how it's explained in their discord:

The founding team

I looked through the founding team and it's very tech-heavy which isn't my forte so couldn't understand much. That being said, I'd assume the team is solid since they recently raised a $10.5 mil seed round😄 Here's the LinkedIn page of the business

Hiring and Funding

A) HiringThey were looking for a Rust developer in July but haven't seen anything besides that. However, I imagine they will soon announce more open roles (given the funding they received).

B) FundingHappy days👇

Why this business excites me

Decentralization + privacy are both important values of web3. This platform seems to be built on those very pillars.

One thing I'm not fully clued up on is whether they're trying to be the web3 version of WhatsApp or Discord 🤔 Either way, it'll be good to follow!

Favourite meme of the week!

Quick market thoughts

VMAsEminem and Snoop Dog at the VMAs was a cool thing to see but overhyped in my opinion. I saw a lot of comments on twitter along the lines of "Yuga has done so much for web3, you should be thankful".... That's 100% true but that doesn't mean people shouldn't be critical of Yuga.

Anyway, here's my thread about Yuga and the VMAs where I reference 2pac's hologram from 2012 and Travis Scott's performance in Fortnite. My claim is that if you were impressed by the video at the VMAs, your standards are too low🤷‍♂️ And here's a take from one of my LinkedIn frens who works at Reddit

Anyway, enough bearish sentiment on Yuga. Have you seen the recent video they released??? Boooooolish. And here's a thread that outlines a theory behind it all

DeGods and y00tlist If you've been around you'll know this has been the talk of the town. I love it, Frank has been really good at keeping the attention. He's also been great at being responsive and receptive to feedback. Love to see it!!

However, there's one thing I don't agree with is how the mint price is in $dust. And here's another POV you don't hear too often - re the lack of value in DeGods

Low supply/VC metaAnd below are some collections that did really well over the last few days.

My on-chain activityGot airdropped an EZU but that's about it.

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Anyway, hope you've enjoyed this and will tag along for next Sunday's adventures.

If you are, or know of, a cool business that I should look into - DM me📩 I'd love to cover it in one of the upcoming weeks.

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If you liked this issue, here are my previous adventures:

1) Cheq.xyz - Stripe but for crypto2) reNFT.io - Rental infrastructure for the Metaverse3) Bull v Bear - On-chain bets on the price action of NFTs4) Kinetix - The no-code platform for creating 3D animations

Wishing you a productive week ahead!- Mitko