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Iteration Three - Web 3 Is Nothing Completely New

Iteration Three
Iteration Three - Web 3 Is Nothing Completely New
By Oliver Jumpertz • Issue #9 • View online
Issue #9 is fresh out of the press! And this time, it is once again packed with value for you.
We will talk about why Web 3 is nothing to directly jump into as a code newbie, and why fundamentals are important. Next to that, I’ll share my strategy with you that helps me to make some money on the side with NFTs, without going broke. After that, we’ll take a look at new content I posted recently, and that’s it then for this newsletter.
I hope you enjoy reading this issue as much as I did writing it, and if there is anything you’d love to see in the future, don’t hesitate to write to me. I’m happy for everyone of you providing feedback.
Without further ado, here it is for you, issue #9 of Iteration Three.

Web 3 Is Nothing Completely New
Oliver Jumpertz
Your learning path to Web 3 web dev should start with the basics:

1. HTML
2. CSS
3. A CSS Framework
4. Computer science fundamentals
5. JavaScript
6. A frontend framework
7. Blockchain fundamentals
8. Web 3 client libs

Don't skip something only because you want to be fast.
Let me use this issue to reiterate on one of my recent tweets. I don’t only want to add to it because it did really well on Twitter, but because I personally think that the message is vital.
Web 3 is nothing super revolutionary new. Overall, it’s just an addition to the web we already know and furthermore a combination of technologies and concepts we already had before. And if you are a fontend developer, it means that you can advance only a little further to get ready to develop dApps.
This is an insane opportunity because you can take and even improve what you already know in an entirely new space. A blockchain client library is nothing else than a library. Under the hood, it’s a special kind of HTTP JSON RPC API; definitely a little more complex than a REST API but abstracted away with an easy-to-use interface. But for you, as a web developer, it doesn’t matter as much because there are not too many changes in the development process. You still build a frontend, and that frontend can still be deployed the traditional way. And even if you go for IPFS, that’s also pretty doable and nothing too complex.
But this is also where many aspiring Web 3 developers struggle. They try to get into Web 3 when they haven’t even fully grasped the fundamentals of Web 2 yet. It makes no sense to go all-in on JavaScript, skip everything else, and focus on learning web3.js or ethers. These developers might become a master at interfacing with the blockchain, but what about the UI? HTML and CSS are still integral parts of any web application, no matter whether that is abstracted away with React’s JSX or with Vue’s templates. And while you could hypothetically live a long and prosperous life only ever using Chakra UI and never touching too much HTML and CSS yourself, the day will come when you need to make a website run and look good in a particular environment.
Skipping fundamentals is also something that usually backfires. It’s not only HTML and CSS but the computer science fundamentals any developer should know enough about. I know it can suck to go through all this theory, but knowing how a computer works when you basically want to instruct it to do what you want is crucial knowledge (and if you want to know what the most important computer science fundamentals for me are; I had written a blog post about it some time ago). The same goes for blockchain fundamentals. You can use something without truly understanding it, but the moment something goes wrong or a feature doesn’t work as intended, you need that knowledge to get out of the rabbit hole you go down when you try to debug and fix that issue.
However, here is the good thing: The moment you are a little more proficient in JavaScript and get into your front-end library, you can start to get into Web 3 immediately. You don’t need to learn to build traditional applications en masse first, and even your first actual React or Vue or whatever app can already be a dApp. Just make sure to take your time to get the fundamentals correct. After that, the whole world is open to you.
Making Money With Polygon NFTs
NFTs are still incredibly hot, but Ethereum is also overcrowded at the moment and scales poorly. This means that for mere mortals, like you and me, most Ethereum NFTs are quite an investment with gas prices of up to multiple hundred dollars, even for a failed mint. Given the fact that not all projects take off, this leads to risk beyond good and evil, especially if you don’t have the financial resources to survive a few losses.
Gladly, the Polygon NFT ecosystem is on the rise, and if you don’t know what Polygon is yet, you can look at an article I wrote some time ago that explains Polygon from a user’s perspective.
However, if you are currently looking to get into the NFT space, Polygon NFTs on OpenSea might be a great place to start. The projects are usually way cheaper than those on Ethereum, and they don’t come with that insane gas cost associated with them. You will also not see the insane ROI that you can get with Ethereum, though.
Let me present my current strategy to you, so you can decide whether this is something for you. Bear in mind that this is, as usual, no financial advice. It is only a representation of what I currently do to make some bucks on the side without being too serious about it.
My strategy is a four-stage process and consists of the following steps:
  1. Find projects that are going to launch on Polygon and OpenSea
  2. Research those projects and try to see what the sentiment for them is
  3. Buy in on launch day (with multiple NFTs)
  4. Relist NFTs
Let’s go over them more in-depth so you understand this strategy a little better.
Find projects that are going to launch on Polygon and OpenSea
This is the easiest part of this strategy. A few sites like NFTCalendar can help you find upcoming projects, and Twitter is also a great place to research upcoming ones. A few accounts on Twitter focus solely on showcasing projects, so find a few of those and definitely follow them.
I usually create a Notion page for every project I identify and track them all in a table. This way, I can later add more information to help me decide which project is worth it for me.
I expect a project to at least tick the following boxes to be considered at all:
  1. A Twitter account
  2. A website
  3. A more or less detailed roadmap
Research those projects and try to see what the sentiment for them is
Research is where most work of this strategy is located. You want to make a good decision and not regret it later, so it’s crucial to use as much time as possible to get this step right.
This is where you begin to take a deeper look. You want to find out a few things about those projects, like:
  1. When does the project launch?
  2. How much is the mint price?
  3. How many Twitter followers do they already have?
  4. How many people talk about the project regularly?
  5. Does their website transparently state what the project tries to achieve?
  6. Is the roadmap detailed enough and does it make sense at all?
  7. Who are the people behind the project? Are they known in the space? Do they have a good track record? Have they pulled the plug already?
Write all this down and structure it in an easily accessible way. A detailed table per project in your Notion is often already enough. Based on all this data, you can decide, which is either a BUY or DON’T signal. Make sure that your budget allows for three of those NFTs. Fewer are riskier, but we will talk about this soon.
Buy in on launch day (with multiple NFTs)
This is the easiest part of this strategy. On launch day, be there and ready to mint. You want to get your hands on at least three NFTs. You only want to get them into your wallet account, and you are done. There is nothing else to do at this stage.
Relist NFTs
This is where the magic begins. You want to relist one of your NFTs above the mint price as soon as the initial mint is over. Depending on how cheap or expensive the mint was, you should try to go for double the mint price. This means that if you manage to sell that first NFT at double its initial price, you already have 2/3 of your investment back.
After your first sale, monitor the floor price of the project closely and list the second NFT a few days later. Your goal should be to sell it for even more than double the mint price. But in case the project doesn’t take off, you can still try to get rid of it at the mint price. This gives you your initial investment back and puts you into break-even.
Depending on how well your first two sales went, your third NFT is now either your break-even chance or profit-driver. If you need your third NFT to break even, look for an opportunity to get rid of it. Perhaps you manage to make at least some profit with it. If you are already break-even, you can take your time and hope for prices to rise further. Any sale at this point puts you into the profit zone, no matter how large or small that is.
That’s it, that’s the strategy
I personally had some good success using this strategy, but your experience might differ. However, I like this strategy for its high chances to at least break even and not lose money overall, which makes it worthwhile to use with a smaller budget and when you are risk-averse. Perhaps you want to try it out now. In this case, good luck to you!
New Articles By Me
How You Can Get A Job In Web 3
Getting a job in Web 3 can be incredibly difficult, but there is an answer to this problem: Networking.
My latest article walks you through proven strategies of networking in Web 3 that can help you to find the job you are dreaming of.
What's Up On Twitter?
Oliver Jumpertz
💛 Web 3 - Solidity explained 💛

This is a very simple smart contract.

It looks like an object, feels like an object, and nearly behaves like an object, but it actually is a smart contract. ↓ https://t.co/PXQqqlxyjK
It’s time to learn Solidity on Twitter, LinkedIn, and Instagram with me. This Solidity series guides you through all major features of Solidity and teaches you a lot about the very basics of the language and smart contract development.
As usual, you can expect two infographics a day. And if you want to code along, just go to Remix (the Ethereum online IDE) and copy the code from the alt text of my images.
Highlighted Learning Resource Of The Week
The Complete Guide to Full Stack Web3 Development - DEV Community
Nothing is better than building stuff to learn. It fortifies your learning, helps you to deepen your knowledge, and is a practical application of recently acquired techniques.
Nader Dabit is a well-known name in the Web 3 space, and his full-stack Web 3 series is an incredible collection of knowledge. The fourth installment of the series is no different and absolutely worth a read (like the rest of the series). You will build a full stack blog and a content management system (CMS) based on Next.js and The Graph Protocol.
That's It For This Issue
This issue has now come to an end. I hope you enjoyed reading it, and that you took something worthwhile with you.
As usual, if you have any feedback, feel free to provide it. Even if you have any ideas, share them with me, I’ll do my best to find out how I can incorporate them into this newsletter.
Until then, stay safe, hodl, and go buidl some dApps!
Yours sincerely,
Oliver
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Oliver Jumpertz

Hey, I'm Oliver, and Iteration Three is my newsletter focused on Web 3 and me. One that I would love to get every week.

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