🌴 Web3 Conf was WILDIN

Namaste. This is Doodhwala. We are the friend that vibes to A.R. Rahman’s Vande Mataram with you on Independence Day.

Oh btw, Happy Independence Day! 🇮🇳 🇮🇳 🇮🇳

Here’s the scoop for today:

• Highlights from the Web3Conf India

• Is the crypto bottom in?

• Tweetshot of the day

• Milky Meme of the day

Quick highlights from the Web3Conf India

The first ever Web3Conf India was held in Goa this weekend and it was absolutely LIT AF! 🔥

Here are some of the key highlights from the Doodhwala:

👉 The Indian crypto scene is metro crypto BOOMIN’

One huge takeaway from this event is that the crypto scene here is like the Indian Cricket Team in 2007.

It’s ready to TAKE OFF!

So many young and intelligent builders are innovating some great products like decentralizing research on the chain, CRM tools for web3, and so much more.

There is absolutely no shortage of talent and drive in India.

All they need is some doodh to fuel themselves. (And we’ve got them covered)

👉 It’s not all Bangalore, Mumbai, and Delhi

The crypto innovation is not centralized in the 3 popular cities in India.

We met builders from different cities like Pune, Ahmedabad, Surat and Kochi who are all creating grassroots-level communities to propel web3 in India.

Suhail Kakar, the 16-year-old dev (yes, you read that right) along with Sethu Raman are building a Chainstack dev community in Kochi and educating them about building on web3.

Man…I was just watching Shin Chan and pulling pranks when I was 16.

👉 Some Sweet Desi Gems

There were some FIRE projects at the event that totally blew our minds away. Here are two projects that stood out for us:

1. StackOS- Cloud. But fully decentralized. So DeCloud. That’s exactly what they have built. A DeCloud that’s anonymous and unstoppable. Their CEO, Vishnu Korde, gave a fantastic talk about migrating web2 products to web3 and we were all ears!

2. Dehidden- They make adding utilities to your NFTs feel as easy as spotting dudes with extremely short shorts in Goa. (They are literally everywhere. 🤦‍♂️) The founder, Dhruv Chakravarti, also gave a great talk about the vision and the recent partnership with Adidas, Prada, and Polygon Studios.

👉 The Greatest Doodhwala Fan

We also spotted one of the OG fans of Doodhwala and he had some controversial opinions about the current crypto news scene:

Is the crypto bottom in? This smart guy thinks so…

Everyone wants to know one thing.

Where does Delhi end and UP begin?

When will RCB win the IPL?

When will the crypto market bottom?

We don’t know the answer to this Q ☝️, but we might know someone who does.

Raoul Pal expects that the crypto markets have bottomed.

Who’s Raoul Pal:

• former Goldman Sachs executive (you know GS right? That company your college classmate interned at and you never heard the end of it!)

• two years ago he moved 90% of his portfolio into crypto

• CEO of Real Vision, and Global Macro Investor

Why does he think the crypto markets have bottomed?

Well, it has something to do with this beast that is the economic system we live in.

You see, the economy works on — supply and demand.

When the supply of something goes up, its value goes down.

And when the demand for something goes up, its value goes up.

Since Covid-19 started supply and demand have been going bonkers:

• govts printed a lotta money

• supply chain problems

• people’s demand shifted

This led, in part, to the rapid rise in crypto prices.

Over two years after the pandemic began, we’re seeing the after affects:

🏦 banks started printing a lotta money ⇒ oversupply of money

⛴ supply chain problems ⇒ higher inventories

🗣 people’s demand shifted ⇒ investment and consumption changed

Okay, but what does this have to do with crypto?

One word.

Inflation.

That thing school didn’t bother to teach you!

Don’t worry, the doodhwala’s got ya back.

Here’s the tldr:

Inflation is why we have a Rs 5 Orbit with four pellets now, when four years back it had six!!!

Inflation is rising, and a recession is likely if not here already.

Raoul Pal expects inflation to continue, but not be so intense in the coming months.

So, if this means — there is inflation, but decreasing inflation, is this a good thing?

According to him, yes.

And this could result in big-money investors moving their funds into risky investments to bet on this recovery. Investments like crypto.

Doodhwala’s take:

Macroeconomy is a big word! We’re not even sure it’s a word tbh. How crypto reacts to all of this mumbo jumbo is beyond us. But this makes sense, if the global economy starts to recover.

The simplest thing to do?

Keep calm and continue reading the doodhwala.

Taaza Tweet Of The Day

Milky Meme Of The Day

That’s all for today peeps! See ya Naale!

Aakash "Dahi Cheeni" Athawasya & Arvind "Doodh Peda" Krishna

Yo! Our legal and financial advisors (aka our good ol’ conscience) have asked us to add this boring disclaimer.

None of what you read here is financial advice. We aren’t here to get you to buy or sell a crypto. We’re only here to tell you what’s up in crypto today and make you laugh. So, if you screwed up on a trade, that’s on you G. Stay safe in the markets.