Thread by @CroissantEth

“Meme coins” have been blowing up, however they make up very little of reality

I thought it’d be nice to go over a brief list of cool applications and things that are ACTUALLY being built on $ETH

All of these are breaking into trillion dollar industries… 🥐

Reddit

The 10th most popular social network in the U.S. uses “community points” on $ETH to reward users who provide quality posts or comments

They have already started three projects using $ETH, with more said to be in the pipeline

There are over 1.7B visits to Reddit a month

AP Elections

A collaboration between Everipedia & Associated Press allowed for an immutable database over the 2020 election

With help from $LINK oracles, more than 7,000 state and National election race calls were recorded on $ETH

This was the first of its kind

Spencer Dinwiddie

With $ETH, a basketball player for the Brooklyn Nets created a unique bond after he wished to tokenize his $34.4M contract

NFT technology allowed him to tokenize and create what he calls “Professional Athlete Investment Tokens”

Crypto-Backed Loans

An FDIC-insured bank is offering $ETH backed loans with smart contracts

They have attracted attention from numerous other banks with tens of billions in assets

This example is just one of many crypto-backed lending products for banks to come

Real Estate

NFTs offer a great solution for real estate

Real estate is often limited to only those who can afford such investments, & there is a lack of liquidity

However, NFTs introduce the concept of fractionalized tokens, which could change everything for the market

Smart Cities

Robotics teams have found home on $ETH for plans to build out a city of IOT devices

Microsoft experimented with $XRT aiming to make smart cities a reality in the 4th industrial revolution

They use the blockchain to offer “robot as a service” technology & much more

Forbes Paywall

Unlock protocol has been implemented on Forbes for an ad-free experience on the site

Even more interestingly, the subscription is represented as an NFT on the blockchain

Connect to the site with your $ETH wallet, and instantly have access ad-free via $UDT

Jewelry

Once a diamond leaves the Jewelry store, it loses almost half of its value

This is because they aren’t a liquid asset, & don’t have a form of verifiable authenticity even slightly comparable to NFTs

Several luxury dealers have explored NFTs for their unique advantages

Insurance

Tens of thousands of Kenyan farmers have access to insurance they otherwise wouldn’t of been able to thanks to $LINK oracles and $ETH

Smart contracts monitor different parameters and execute claims in a seamless manner

This is a multi hundred billion dollar industry

Proof of Life

I couldn’t make this thread without including this amusing yet brilliant use of $ETH

In 2017 people were convinced Vitalik Buterin died in a car accident, but he was able to verify life and put everyone at ease on-chain

NFT marriage

Another amusing yet true use case for $ETH is apparent in the case of two Coinbase employees, and how they chose to get married

Unlike traditional couples, this couple got married on an immutable ledger

These go to show just how creative you can get…

Tickets

Tickets can be easily made for events, with tons of programmable options

The Dallas Mavericks have discussed using NFTs as tickets to collect more revenue from royalties

These can include built in features to profit from secondary markets & scalpers reaping profits

Flashloans

Instantly access a loan of more than $10M with absolutely zero collateral placed down

What’s the catch? Well, there isn’t one.

Flashloans can make up several trades on the condition that it returns what is owed, or it fails

This means there is NO RISK for lenders

VISA x USDC

Online payments processor giant VISA announced they will accept transaction settlement in $USDC, a stable coin on $ETH

There are a staggering 3.3B VISA cards in use, with as little as 163M wallets on $ETH

& $ETH is home to an abundance of stable coins

MasterCard

MasterCard partnered with Consensys to deliver a suite of products on $ETH

They hope to “support a growing number of customers that are actively developing applications on Enterprise Ethereum and leveraging open-source technologies and communities”

No-collateral loans

Goldfinch, a protocol on $ETH, aims to decentralize the process of lending, AND getting loans without collateral

So far they already have more than 10,000 borrowers across Mexico, Nigeria, and Asia

Liberland DAO

The Liberland DAO is an Ethereum-based decentralized autonomous organization for governance over a small nation between Croatia and Serbia

Token holders are inclined to service the Free Republic of Liberland

This is the first “country on the blockchain”

Music

The music industry is littered with record labels and larger corporations who take up all of artists profits

NFTs and $ETH offer a direct tool for creators to sell their work straight to their fans, while making it a whole lot more profitable!

Creator Economies

Anyone can make independent economies with unique control over their interactions & experiences with fans

These provide a never seen before level of access at disposal of the content creator

This is a gigantic market which has only dipped its toes

Legal Agreements

On $ETH, it is actually possible to create legal agreements in law with code

These smart contracts can significantly reduce friction and cost of creating binding legal agreements

OpenLaw offers a platform exactly for this purpose

Synthetics

Real world assets are being tokenized with the use of off chain oracles

These off chain oracles relay data to smart contracts with stuff like price feeds for various assets like gold, silver, or almost anything else that you could think of with a stream of value

TLDR?

It is becoming increasingly obvious that Ethereum is more than what many people set it out to be, and I think it’s time we start treating it that way.

Education > Speculation

If you made it this far, I hope you enjoyed! More breadcrumbs from the bakery coming soon… 🥐