⚡ Reddit NFTs Surpass 10M Holders, Binance Enters NFT Lending Space, Web3 Wallets, and more!
Discover the latest and greatest Crypto & Web3 products
💡 Intro
🥳 Happy Monday and Happy Memorial Day!
Know a lot of you are in the USA and are on holiday, so we’ll keep this edition brief!
If you’re on holiday, enjoy the day off.
👽 Reddit NFTs Hit 10M Holders, $32M in Volume: Reddit NFTs have been a massive success, recently reaching 10M in unique holder addresses.
💡 What To Learn From This:
Low cost NFTs work for adoption: One of the secrets to Reddit’s success has been making drops inexpensive or free. This has brought a lot of previously-hesitant users into the ecosystem through collecting.
.SWOOSH has taken a similar approach. Instead of making their first drop 100s of dollars, boxes are only $19.92.
Polygon continues to power successful collections: Due to its low gas fee cost, Polygon has been a major factor in recent successful collections like Odyssey, Reddit NFTs, .SWOOSH, and more.
Money can still be made off of cheaper NFT collections: Just because collections on average have low cost, doesn’t mean there’s not opportunities on the investment side. Rarer Reddit NFTs have sold for 4-5 figures each.
Binance Enters NFT Loans Space with ETH Loans: On Friday, Binance announced they’re officially launching their own NFT Lending platform.
They’re starting with ETH blue-chip NFTs, such as BAYC, MAYC and Azuki. And adding more collections over time.
👉 This is a very interesting product update from Binance and adds to the ever growing list of NFT lending platforms that have come out in 2023 (with the biggest being Blend from Blur).
Expect to see more NFT Lending platforms/features continue to come out as well as more aggregators.
Orbofi AI / $2.80M — Orbofi AI, a web3, gaming, and metaverse platform, raised $2.8M in funding from notable venture capital firms including Cogitent Ventures, OIG Capital, CSP DAO, Zephyrus Capital, and Halvings Capital, among others, through private and public token sales. — The Block
Nutrios Protocol / $0.50M — AI-powered food technology platform Nutrios secured $500,000 in funding from investors such as Aptos Labs and Monoceros. — Coincarp
Loot Labs / $1.50M — Loot Labs, the creators of Boxed.gg, a web3 loot box platform, raised $1.5 million in pre-seed funding for its digital collectibles acquisition platform. — BeyondGames
👉 Brought to You by Cryptosteel: the premier backup tool for your cryptographic private key or seedphrase.
The Cryptosteel Capsule is a pocket-sized stainless steel device designed to securely store keys or seedphrases (its a physical set of steel letters)
Rabby
"The game-changing wallet for Ethereum and all EVM chains"
Type of Product: Web3 Wallet
Purpose of Tool: Rabby is an extension wallet designed specifically for DeFi users. It offers multi-chain capability, security engine screening, open source features, decentralized storage of assets and private keys, minimalistic design, non-involvement in constructing transactions, prioritization of security over user experience and privacy protection.
Currently our favorite main wallet, Metamask has a lot of performance issues and Rabby seems much faster.
Multi-Chain Capability: Rabby supports multiple chains to provide flexibility for DeFi users. It also associates corresponding chain settings with each DeFi Dapp to ensure compatibility.
Security Engine Screening: Every transaction is sent into a security engine for screening before it is signed by the user. The engine helps identify potential risks such as attacks on interacting contracts or invalid recipient addresses on the chain.
Decentralized Storage of Assets & Private Keys: Rabby stores all assets and private keys on the front end only and allows users to export them at any time independently from Rabby’s back-end services.
Prioritization of Security Over User Experience & Privacy Protection: For enhanced security of user data & funds, Rabby has developed its private key management module using components from MetaMask which do not rely on back end services (including the security rules API). Additionally it does not upload information about visited pages unless a “Connect” button or transaction initiation occurs; further protecting user privacy.
Watcher Mode Support: In addition to all these features , Rabby also supports a cool “Watcher Mode” where one can simply add any address without importing its private key in order to have an owner's view experience conveniently & risk free
Team / Funding / Backers / Other Info: The team behind DeBank are the creators and responsible for maintaining Rabby. DeBank is a Web3-enabled messenger and portfolio tracker that provides coverage of all tokens, DeFi protocols, and NFTs across all EVM chains.
Link to product | Link to TFC listing
Orbofi
“The Amazon of AI content models for web3, games, and every online community."
Type of Product: Web3 AI content engine
Purpose of Tool: Orbofi is an AI-generated content layer and asset factory platform for web3, games, and the metaverse. It empowers users to quickly generate high-quality assets with AI, tokenize them on the blockchain, and monetize their virtual factories for crypto. With Orbofi, individuals have unprecedented access to creating digital assets such as 2D images for gaming or media purposes with unparalleled speed and accuracy.
Very interesting tool that just raised ~3M in funding today.
If you’re a Web3 builder who needs assets/graphics for games, it’s worth checking out.
Create AI-generated 2D Assets: With a variety of frameworks such as text-to-image, image-to-image, depth-to-image available at users' fingertips, creating high quality assets has never been easier.
Tokenize Assets on Blockchain: Users can tokenize their created assets on the blockchain to securely store them away from any third parties.
Monetize Virtual Good Factories: By using Google's open source Dreambooth training framework, users can create virtual good factories that recognize patterns in data and produce similar results accordingly. This allows them to earn money when people use their factories.
Access 15M+ Assets & Prompts Hubs: Find all types of resources you need by accessing one of the largest hubs of AI-generated content - an Open ocean with 15M+ assets and prompts.
Team / Funding / Backers / Other Info: Just today: Orbofi has recently surpassed 101k users. This achievement establishes Orbofi as the forerunner in the field of blockchain-based AI content and models. Orbofi launched its Mainnet almost a month ago on May 1st, 2023.
Orbofi AI also secured $2.8M in funding through private and public token sales. Leading the round were renowned venture capital firms like Cogitent Ventures, OIG Capital, CSP DAO, Zephyrus Capital, and Halvings Capital, among others.
Link to product | Link to TFC listing
Privy
“Onboard all of your users to web3"
Type of Product: Web3 Onboarding
Purpose of Tool: Privy is an authentication toolkit for web3 applications. It enables users to sign into their accounts using a variety of methods, including crypto wallets, email addresses, phone numbers and social media accounts. By providing a simple library that works across all devices and authentication methods, Privy helps developers create better user experiences while boosting user conversion rates.
Multi-Method Authentication: With Privy, users can sign in with different types of credentials such as crypto wallets, emails or phone numbers. This allows them to use the same account across different platforms without having to remember multiple usernames and passwords.
Progressive Onboarding: Users don't need to connect a wallet right away when signing up for an app; instead they can be offered the option once it's needed in the future. This allows you to maximize user conversion by only requiring wallet connection when necessary.
Common User Object: Regardless of which credential type was used for signup, Privy creates a single unified user object that simplifies your code base and makes it easier to manage user data across all authentication methods.
Wallet Setup Assistance: For those who don't already have a self-custodial wallet set up, Privy provides easy-to-follow instructions on how to get started with one and connect it to your app.
Team / Funding / Backers / Other Info: On April 20th, 2022, Privy secured an $8.3M seed funding round led by Sequoia Capital and BlueYard Capital. The round was also supported by additional investors such as Electric Capital, Archetype, BoxGroup, and Protocol Labs.
The Privy founders:
Link to product | Link to TFC listing
Courtyard
"Sell Your Collectibles And Earn Passive Income”
Type of Product: NFT Marketplace
Purpose of Tool: Courtyard is a platform that allows users to turn their physical collectibles into digital representations on the blockchain. It stores these assets in secure vaults and mints them as non-fungible tokens (NFTs). This enables users to trade, display, and earn passive income from their collectibles.
Authenticated, Vaulted & Insured – All collectibles are authenticated by experts, insured, and stored securely.
Earn 1% on every future sale – Receive payouts for each transaction on OpenSea and other web3 marketplaces.
Flex your collection – Put your collection on show worldwide through digital showrooms.
No sales tax or fees for vaulted transactions – Store your collectibles without having to pay any taxes or extra fees for vaulted transactions.
What is a Connected Collectible?
Connected Collectibles provide a digital certificate of physical assets in the form of Non-Fungible Tokens (NFTs). They can be traded on any NFT marketplace, with provenance and transaction history secured on the blockchain. While these collectibles can be redeemed for the exact physical asset, once sold to another collector, ownership is transferred and no longer able to be redeemed.
Team / Funding / Backers / Other Info: Nicolas le Jeune: Co-Founder, Partnerships & Operations - Nicolas has been working in the fields of Sales, Partnerships and Operations for 8+ years. During his time at Google, Nicolas held the role of Strategic Partner Manager for YouTube, working with Music Labels and Movie Studios.
Paulin Andurand: Co-Founder, Engineering - Paulin has worked in Software Engineering at Apple for more than seven years. He then decided to take some time off and explored NFTs and smart contract design and development. Subsequently, he joined forces with Nicolas to create Courtyard.
Joe Petrich: Engineering - Joe has experience as a full stack developer for multiple startups and joined Google as a Software Engineer, specializing in the reliability of its payments infrastructure. He also gained expertise in Solidity by building a Clubhouse-like application on Ethereum during a crypto hackathon.
Link to product | Link to TFC listing
Aptos | Software Engineer, Programming Languages | Link to position
Safe | PR & Communications Lead | Link to position
Wintermute | Financial Accountant | Link to position
Chainflip Labs | Senior Full Stack Engineer | Link to position
Coinshift | Senior Product Marketing Manager | Link to position
Phantom | Senior Software Engineer, Mobile | Link to position
Gelato | Business Development Intern | Link to position
Evmos | Software Engineer, Full Stack | Link to position
Magic Square | Blockchain Backend Developer | Link to position
Immutable | Global Head of PR & Communications | Link to position
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Disclaimer: None of this is to be deemed legal or financial advice of any kind. Always DYOR!