Antalpha Weekly

Antalpha
8 min readDec 20, 2022

Week of Dec 12, 2022

Highest NFT Sale of the Week

BAYC #7609

120 ETH ($143 K)

BAYC #7609

Overview of Fundraisings of the Week

Crypto Trading Firm Amber Group Raises $300M Series C After FTX Contagion

Aztec Network takes on encrypted blockchains with $100M round led by a16z

Nillion raises over $20 million to build new web3 infrastructure

MetaVersusWorld Successfully Raises US $2 Million Seed Funding Round

Web3 Infrastructure Firm Blocknative Raises $15M for Ethereum Block Building Market

Evertas, the Leading Crypto Insurance Company, Closes $14 million Series A to Expand Capacity and Develop New Products and Standards

Digital Entertainment Asset (DEA) Secures $10M from LDA Capital to Accelerate Expansion of PlayMining GameFi Platform

DOGAMÍ Secures $14M Total Funding in Seed Round for Developing the First Web3 Mobile Game for Mainstream Audiences

NFT platform Bonfire is out of beta with $6.2 million in funding

Crypto superapp developer Utorg seals $5 million

DeFi

Weekly TVL

Gross: ⬇️$39.73B

Top 3 Apps: MakerDAO ⬇️($5.95B), Lido ⬇️($5.79B), Curve ⬇️($3.69B)

Top 3 Chains: ETH ⬇️($23.18B), TRON ⬇️($4.35B), BSC ⬇️($5.17B)

Top 7D Change 📈: Decentralized Exchange protocol native to the Arbitrum blockchain — SwapFish Finance (+70.65%, $54.73m)

DeFi News

[Maple Released 2.0] Maple releases a new version that focuses on diversifying borrowers and improving risk management parameters.

[PayPal x MetaMask] The PayPal MetaMask integration enables buying ETH from within the MetaMask wallet using PayPal. Starting with selected users, PayPal will roll out the functionality to all eligible customers in the coming weeks.

[zkLend Artemis Testnet Live] StarkNet-based lending protocol zkLend launches public testnet of Artemis, zkLend’s lending interface for traders to test out lending/borrowing on StarkNet.

NFT

Top 10 Collections by Weekly Volume

[ETH] Bored Ape Yacht Club

Average Price: $29.74k (-53.49%)

Volume: $12.28M (-0.99%)

Sales: 413 (+108.59%)

[MATIC] Collect Trump Cards

Average Price: $176.25 (New)

Volume: $11.99M (New)

Sales: 68,058 (New)

[ETH] Mutant Ape Yacht Club

Average Price: $8.62k (-32.27%)

Volume: $7.51M (-26.9%)

Sales: 872 (+4.8%)

[ETH] Valhalla

Average Price: $1.62k (+49.87%)

Volume: $6.75M (+27.07%)

Sales: 4,158 (-18.52%)

[ETH] Otherdeeds for Otherside

Average Price: $1.84k (+1.68%)

Volume: $3.81M (+9.68%)

Sales: 2,071 (+2.98%)

[ETH] Azuki

Average Price: $7.23k (-42.42%)

Volume: $3.68M (-53.77%)

Sales: 509 (-20.22%)

[ETH] Art Blocks

Average Price: $1.45k (-15.39%)

Volume: $2.44M (-8.09%)

Sales: 1,674 (-4.51%)

[ETH] CryptoPunks

Average Price: $98.39k (+11.12%)

Volume: $2.36M (-29.82%)

Sales: 24 (-36.84%)

[ETH] CLONE X — X TAKASHI MURAKAMI

Average Price: $2.28k (+66.65%)

Volume: $2.22M (-60.84%)

Sales: 970 (+13.72%)

[ETH] Wolf Game

Average Price: $1.22k (+5.39%)

Volume: $1.89M (+691.68%)

Sales: 1,540 (+572.49%)

NFT News of the Week

Dec. 16, Former President Donald Trump releases his first NFT collection on Polygon. “The collection of 45,000 NFTs features the former president in various fantasy costumes and poses, and cost $99 each.” [Source: CoinDesk]

Dec. 15, Magic Eden adds Polygon NFT minting and trading support. “The new support will allow for a framework for more blockchain-based games on Magic Eden, with new gaming brands joining the platform” [Source: The Block]

Dec. 15, Crypto.com DeFi wallet now supports NFTs on Polygon. “Securely store your collection in a single app; View, send, receive, and share NFTs; Supports multiple file types incl. SVG.” [Source: Twitter]

Dec. 14, Apple plans to allow the installation of iOS apps from external sources due to impending EU regulations. “The move could make it easier for developers to build apps around NFTs and broaden the ability to make crypto payments through iPhones and iPads.” [Source: Decrypt]

Dec. 12, Bybit to change KYC policies for fiat transactions and NFT purchases. “For all NFT purchase, NFT sale over $10k per sale in NFT secondary marketplace, it will be effective from Dec 15, 2022.” [Source: Bybit]

GameFi & Metaverse

[Warner Music Group and DressX partner to create digital merch] Warner Music Group is partnering with digital fashion platform DressX to create virtual merch for artists’ fans to flex in the metaverse. Through the partnership, items such as digital concert T-shirts and sweatshirts will be available in 3D and augmented reality and shareable via social media platforms including Instagram and Snapchat.

[Shanghai Tower to create metaverse space] China’s tallest building will embrace the latest technologies with the opening of a metaverse space. Shanghai Tower, at the height of 632 meters, will work with Xenario to create a 3,500-square-meter metaverse space where a virtual girl AiAi will lead visitors to explore the co-existence of artificial intelligence and human beings in the future.

[Wemade expands GameFi service for the growth of WEMIX PLAY Ecosystem] WEMIX PLAY, the blockchain gaming platform by Wemade, is releasing an expanded GameFi service to promote the growth of the ecosystem. The swap service has been added for various game tokens that make up the liquidity of the ecosystem of WEMIX PLAY.

DAO

[ENS DAO voted to elect nine stewards in charge of governance for H1,2023] There are three distinct working groups within ENS DAO overseeing different aspects of operation. Nick Johnson, simona,eth and Katherine Wu were elected to in charge of Meta-governance. Alex Slobodnik, limes.eth and yambo.eth will be responsible for ENS Ecosystem group. Lastly, Alex Van de Sande, coltron.eth and vagayp.eth elected to run Public good. ENS remain aggressively healthy in the bear market, NFTgo reported an accumulated trading volume of exceed $200M for the project.

[Sui announced token allocation plan] Reaching towards Mainnet, SUI finally announces token allocation plan. 50% of the token will be distributed to Community reserve managed by SUI foundation, where matters like delegation Program, Grant programs, R&D and Validator subsidies will be overseed by the foundation. Early contributors, investors and Mysten Labs each yield allocation of 20%, 14% and10%. Lastly, the 6% will be allocated to Community Access program and App testers.

[Jack dorsey calls for open protocol for social media] Over a blog Jack reflected on his past decision made on Twitter has not accomplish a more resilient and open social media platform. He insisted on a healthy social media that in needed in our internet space should be resilient to centralized parties’ control , In essence he emphasised that only the original author has the write to remove their own content, and finally moderation shoule be held by algorithmic choice. Jack Dorsey is currently dedicated himself to build project Bluesky, furthermore his generous donation of $1M towards Signal also demonstrates he’s will of contributing to the space.

[Sushi DAO disclosed budget of $5.2M for 2023 ] CEO of Sushi Swap, Jared Grey disclose budget for the dex in 2023. The total cost amounted to $5.2M whereas salary for main contributor weighted at 82%. Subscription to services weighted at 9% ,the rest 9% is for freelancer and legal retainers.

[Stargate passed the proposal to onboard Metis ] Stargate is going to launch on Metis to bring interoperability of Ethereum, Avalanche and BNB to the Metis chain. The MetisDAO foundation also proposed a 4 month grant of $100k per month as good gesture, along with extra liquidity incentives.

[ZkSync push off Fair Onboarding Alpha dn Full lauch Alpha to Q1 and Q2 2023] Zksync explained that the the push-off is due to their security audits ist going to be completed by January 2023, it is critical for them to clear out security and code issues before the onboarding the ecosystem partners.

Regulation & Adoption

  • Dec 14 (🇧🇸) Sam Bankman-Fried jailed in the Bahamas.
  • Dec 15 (🇺🇸) Former US president, Donald Trump launches NFT collection.
  • Dec 16 (🇨🇳) Chinese police arrest crypto ring laundering $1.7bn USD.
  • Dec 16 (🌍) BIS finalizes Policy suggesting 2% BTC banking exposure cap allowance.
  • Dec 17 (🌍🇺🇸) Binance Auditor quits working with crypto companies.

Macro

  • Freight rates falls to pre-pandemic levels
  • US Inflation slowed to 7.1% YoY in November.
  • US Oil reserves fall to lowest since 1984.
  • Gas extraction in Europe hit an all-time high.
  • ECB raises rates to 2% and warns of more increases to come.

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