Highest NFT Sale of the Week
Bored Ape Yacht Club #3250
Price: 250ETH ($724K)
Overview of Fundraisings of the Week
Top 10 Fundraising Events
Top 3 Infrastructure Fundraisings
Top 3 CeFi Fundraisings
Top 3 DeFi Fundraisings
Top 3 NFT Fundraisings
Fundraising Trend
DeFi
Weekly TVL
Gross: ⬆️ $209.2B
Top 3 Apps: Curve ⬆️ ($18.3B), Maker ⬆️ ($16.12B), Lido ⬆️ ($15.85B)
Top 3 Chains: ETH ⬆️ ($118.2B), Terra ⬆️ ($26.45B), BSC ⬆️ ($11.94B)
Top 7D Change 📈: Protocol on top of Solidly - 0xDAO (+10371%, $324.2M)
DeFi News
[Coinbase Wallet Supports Solana] The Coinbase Wallet now supports SOL with plans to add support for Solana NFTs & dApps.
[Aave V3 Live] Aave has launched v3 on seven chains, enabling cross-chain transactions, high-efficiency mode to boost borrowing power, isolation mode that adds protection for borrowing new assets, gas optimization, and many more improvements.
[Gnosis Chain Exploits] Agave (Aave fork) and Hundred (Compound fork) were attacked on Gnosis Chain (formerly xDAI). The Gnosis bridged token design allowed the attacker to exploit and attack reentrancy in both protocols.
[Arbitrum New Launches] Cross-chain stable protocol QiDAO launches MAI on Arbitrum.
NFT
Key Metrics
7D SALES: $526,650,529
7D CHANGE IN SALES: 30.01%
7D NUMBER OF SALES: 1,034,082
NFT News
Mar 19, Yuga Labs is building an interoperable gaming metaverse called MetaRPG.
Mar 18, Time plans to release the first-ever full magazine issue as NFT featuring Vitalik Buterin.
Mar 17, Spotify plans to enter the NFT space by recruiting people to work on their early-stage “Web3” project.
Mar 16, BAYC announces the Launch of the $APE Token, airdropped to Bored Ape, Mutant Ape, and Kennel Club members.
Mar 15, Meta is working on bringing NFTs to Instagram in the near term.
GameFi & Metaverse
[Accenture enters Metaverse] The leading company in communications and media, Accenture is positioning itself as a Metaverse infrastructure provider for business to offer their services in virtual reality. Their recent report, “Meet Me in the Metaverse” revealed that they aimed to help companies set up a 0 to 1 digital branding and build and operate their metaverse capabilities. Now Accenture’s market cap is at $213B.
[American Express filed for NFT & Metaverse trademarks] American Express filed for NFT and Metaverse Trademarks with USPTO, specifically, trademarks include NFT marketplace, virtual environment for recreation and entertainment, offer wallet services for digital and blockchain assets, virtual currency exchange, and digitized and utility token trading services.
[LVMH released its metaverse ambassador] In a sign of the growing pull of the metaverse, LVMH Moët Hennessy Louis Vuitton has created a virtual ambassador to present its brand innovations at the next edition of the Viva Technology conference, scheduled to run from June 15 to 18 in Paris.
[Illuvium’s lead investors proposed to delay the token unlocking event] The 3 lead investors behind The immutable X-based RPG game Illuvium, Framework, Delphi Digital, and IOSG propose to delay their token unlocking event from March 31st, 2022 to June 30, 2022. Illuvium raised 7M in preseed and seed, therefore accounting for 20% of the total supply.
[ETC Group Global Metavese UCITS ETF] ETC Group and HANetf announced to initiate Europe’s first metaverse ETF and has listed on the London Stock Exchange. The ETF will track the Solactive ETC Group Global Metaverse Index, to give investors full exposure to the Metaverse industry, including companies active in VR/AR，3D graphics, semiconductors, high-speed wireless communications, online gaming, video streaming, blockchain technologies including NFT and digital land, and cloud computing, data storage, file storage.
[ProShares Metaverse ETF is listed on NYSE Arca] $60B asset manager, ProShares Metaverse ETF tracks the Solactive Metaverse Theme Index which now yields a 30% performance per annually base. The top components are shares of Apple, Nvidia, Alphabet, Meta, Snap, Unity, HIMAX, WYSIWYG, VUZIX, and Microsoft.
[NG+: Web 3.0 YCombinator] Galaxy Interactive, Republic Crypto, and Alameda Research cofounded an investment consortium, NG+, to focus on building web3.0 video games. Galaxy interactive will bring in prominent game studios, where Republic and Alameda will each offer their advisory and market-making services to the portfolio.
[Adobe is building Metaverse] Adobe announced Adobe Substance 3D Modeler and Adobe Aero, toolings for creators to build more immersive and compelling VR and AR experiences in the metaverse.
DAO
[Chelsea Football Club owned by Chealsea DAO?] A DAO was formed to raise funds through tokens to allow Chelsea fans to become the owners of Chelsea Football club. Ever since the British Government sanctioned Russia for Russo-Ukrainian War, Chelsea Football Club, owned by Russian Billionaire Roman Abramovich, was frozen as a result of the sanction. Chelsea DAO further revealed that 10% of initial tokens will be donated to the Ukrainian Red Cross Society.
[dYdX might set up a legal framework for its DAO] In a recent post by dYdX, they introduced a framework of a Guernsey purpose trust that could be adopted by its DAO for limiting liability for DAO participation, engaging off-chain activities, and clarifying the existence of tax payment and reporting obligations.
[Andrew Yang into the DAO space ] The former 2020 Democratic presidential candidate, Andrew Yang, is really into the web 3.0 and DAO space for cofounded GoldenDAO and Lobby 3. GoldenDAO focused on leveraging AAPI web 3.0 community and will have extensive private events exclusive for its NFT holders. Lobby3 is a community-building decentralized lobby operation that educate lawmakers about Web 3.0, currently, there are 766 owners and floor priced at 0.05 ETH.
Regulation and Adoption
Mar 15(🇪🇺) EU Parliament voted against banning Proof-of work crypto assets.
Mar 15(🇰🇿) Kazakhstan shut down over 100 illegal mining farms which “compromised the nation’s energy network”.
Mar 16 (🇦🇪) Binance secured approval to legally operate in Dubai as a virtual asset service provider. FTX is the first crypto company to win approval.
Mar 17(🇺🇦) Ukrainian President Zelenskyy signed the virtual asset bill into law to grant virtual assets’ legal status.
Mar 17(🇺🇸) A new bill to potentially allow the US president to power to sanction non-US crypto companies who support sanction evasion was introduced by Senator Warren.
Macro
- Stocks markets recovered from the two-week drop while volatility and the commodity prices lowered from session highs. Nasdaq gained over 8% to recover from the bear market territory. Bonds prices dropped this week as a reaction to the fed rate hike.
- The Fed raised the interest rate 25bp, the first move since 2018. Despite the ongoing war in Ukraine and the volatility of the market, The Fed starts its process of tightening to better the inflation problem, which is at a multi-decade high. According to the updated economic forecast, the Fed is expected to raise the rate 7 times in 2022 and the target rate for this cycle is 2.8%.
- A large decline in oil price helps alleviate the inflation pressure in February. The labor market remains healthy with unemployment claims at low levels. After the Fed rate increase, the mortgage rate has surpassed 4% first time in 3 years.
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