Week of May 23, 2022
Highest NFT Sale of the Week
Bored Ape #2664
390 ETH ($200 K)
Overview of Fundraisings of the Week
StarkWare quadruples valuation to $8B in 6 months, closing round in choppy market.
Crypto asset manager Babel Finance reaches $2B valuation.
Climate Company Flowcarbon Raises $70M Through A16z-Led Round, Sale of Carbon-Backed Token.
ADDX bags $58M to reduce min. private investment by 10x via smart contracts.
GEMS Secures 50M Investment Commitment from GEM.
Metaverse app BUD raises another $37M, plans to launch NFTs.
Common Raises $20M to Build DAO Management Platform, Launch Token.
Hedonova Raises $18.4 Million at a $330 Million Valuation in Latest Funding Round from Chemie-Tech DMCC.
MetaKing Studios Raises $15M to Launch Web 3 Strategy Game Blocklords.
The IRSās crypto tax partner, ZenLedger, raises $15 million Series B.
Fundraising Trend Since the Beginning of the Year
DeFi
Weekly TVL
Gross: ā¬ļø $110B
Top 3 Apps: MakerDAO ā¬ļø ($9.75B), Curve ā¬ļø($8.73B), AAVE ā¬ļø ($8.71B)
Top 3 Chains: ETH ā¬ļø ($70.15B), BSC ā¬ļø($8.79B), TRON ā¬ļø($5.93B)
Top 7D Change š: First integrated platform for stablecoin swap, stake-mining, and self-governance on TRON-Sun.io (SUN) (+160%, $642.66m)
DeFi News
[Optimism Removed Sybil Attackers]The Optimism team identified and removed Sybil attackers from the airdrop receiver list, and will redistribute the recovered tokens to other recipients.
[Immutable x StarkNet] Ethereum NFT scaling platform Immutable will be offering its entire product suite (order book, minting tools, trading primitives, wallet, marketplace, etc.) on StarkNet to enable cross L2/L3 liquidity layer for NFTs.
[Luna 2.0 Launches] Investors dumping on Terra as LUNA 2 tanks 70% in two days.
NFT
Key Metrics
7D SALES: $258,187,651
7D CHANGE IN SALES: -10.39%
7D NUMBER OF SALES: 1,081,000
NFT News
May 27, DeFiās PoolTogether Crowdfunds Legal Defense With NFT Collection.
May 25, NFL Taps Mythical Games for First Play-to-Earn Venture.
May 24, Rarible To Access Gasless and Carbon Neutral Gaming NFTs via Immutable X.
May 23, GameStop Launches Wallet for Cryptocurrencies and NFTs.
May 23, eBay Launches First Collection of NFTs in Partnership with Green Web3 Company OneOf.
Gamefi & Metaverse
[StepN is clearing out all users in China] StepN officially notify all users in China via Twitter that in order to comply with Chinese regulations, StepN will stop offering GPS and IP location services for all users in Mainland starting July 5th, 2022. The Price of $GMT dropped almost 40% right after the official announcement and causing some panic among plays. There are also rumors about how the law enforcement arrested the StepNās team in Hangzhou and how the team revised the whitepaper regarding the tokenomics. Before this incident, StepN was just reported by Techcrunch to have 2M-3M monthly active users and over $100M in monthly revenue.
[TAG Heuer is exploring Crypto] The swiss luxury watch brand will adopt cryptocurrency as a payment method online in the U.S. After announcing, Frederic Arnault, CEO of TAG Heuer changed his profile picture on Twitter to Bore ApeYacht Club #4215.
[NBA star Kevin Durant filed for NFT trademarks] The MVP player in NBA, Kevin Durant, is revealed filed for 26 NFT-related trademarks with the USPTO along with his own venture capital brands.
[Immutable X initiated a proposal to build partnership with ApeCoin DAO] The zk scaling solution on Ethereum, Immutable X posted an AIP to have ApeCoin onboarding. In the posts, Immutable argues that it is the only platform that could offer free minting and fast minting, while fully inheriting the security of Ethereum. Currently, the immutable X ecosystem has announced partnerships with illuvium, EmberSword, Gods Unchained, Guild of Guardians, TikTok, GameStop, and DC Comics.
[Avalanche proposed to build Otherside as a subnet ] Avalanche proposed an AIP to prepare a subnet for Otherside. They emphasize on the speed, scalability, and the user-friendly infrastructure to offer for the project. Currently, Avalanche already has Crabada and Defi Kingdom on its gamefi ecosystem.
[Bikerush: StepN for biking] The new bike to earn Dapp just started to airdrop tokens and get enlisted on exchanges and is valued at $90.4M, the second-largest Move-to-earn project in the space. According to the officials, the community now has 100K active members and is on the waitlist for the product launch.
[Mark Zuckerberg says metaverse will bleed money in the short term] At Metaās annual shareholder meeting, Mark Zuckerberg revealed that the metaverse project will lose significant amounts of money over the next 3ā5 years. The company underwent a massive expansion to about 20,000 employees since it adopted metaverse. In 2021 alone, Meta has spent $10B to initiate the metaverse product, now it seems just merely the tip of the iceberg,
DAO
[MoonDAO is sending its NFT holder to the Moon] MoonDAO is aiming at space research and exploration, raising 2,623 ETH on juicebox in 2021. Now it has purchased two tickets from Blue Origin and opened the chances of go-to space for one of the lucky Space NFT holders to actually go to the space in 2022. The minting is started on June 3rd for free and currently, there are over 50k people subscribed for a total of 9,060 NFTs. According to the road map, MoonDAO will dedicate to supporting space exploration and finally accomplish to colonized a land on Moon.
[Nation3 launches its Genesis Passport] Nation 3 Passport is available to claim for $veNation Stakers, there will be 420 in total available.
[AstridDAO joined Microsoft for startups program] Decentralized money market protocol AstridDAO is now powered by Microsoft for Startups to accelerate the adoption of its native stablecoin BAI.
[Terra 2.0 is here] Terra 2.0 Pheonix -1 is live on the main net and $Luna is trading at $6 with an FDV of $6B. The Terra 1.0 will be referred to as Terra Classic with the native token changed to $LUNC. The $Luna will be available to claim for $LUNC holders according to the rules.
Regulation & Adoption
May 24, š·šŗ: RussiaĀ“s updated crypto mining bill cuts tax amnesty on miners.
May 24, šµš¦: Panamaās President, Laurentino Cortizo, wonāt sign the crypto bill into law āat this momentā
May 25, š²š½: Tether launches token pegged to the Mexican peso.
May 26, šØš«: The World Bank wonāt support the Central AfricanĀ“s Republic Bitcoin island project.
Macro
- The US PCE Index fell further, and the Fedās preferred inflation gauge, rose 4.9% from a year ago, down from +5.2% last month.
- The average 30-year fixed-rate mortgage fell to 5.10% lowest in a month, falling for its second consecutive week.
- Consumer spending rose by YoY 0.9% in April. Consumer savings fell to 4.4%, the lowest in 14-years.
- The US market closes the first green week after 7 red weekly sessions.
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