⚡ TFC Newsletter: 02/20/2023
OpenSea Removes Royalties, Youtube's CPO Web Comments, Web3 Email Platform, Crypto Index, Meta Aggregators, QR Code NFTs, and more!
💡 Intro
🥳 Happy Monday! Never a dull moment in crypto, as the NFT Marketplace Wars heated up Friday when OpenSea announced dropping platform fees + required creator fees:
We’ve covered the increasing threat to OpenSea that Blur has posed over the past couple months. On-chain data has shown an ever-increasing volume on Blur compared to OpenSea making it more used than the long-time incumbent.
With the Blur airdrop being a massive success, OpenSea has finally responded with a series of tweets,
After months of losing market share to Blur, OpenSea has capitulated and given up fees (temporarily) on platform: both for OpenSea and for creator royalties.
Why This Matters
The well-covered effect from this is it’s obvious OpenSea is losing its top spot as the #1 NFT marketplace. It desperately needs to do something to reclaim its spot.
The lesser-covered effect is that NFT royalties, long hailed as a massive benefit for creators from using Web3, are now all but gone. While great for traders, creators now can’t rely on NFT royalties and will likely reconsider the benefits of launching on Web3 (specifically artists).
In a post that went mostly unnoticed by Crypto Twitter, Youtube’s Chief Product Officer put out this very interesting snippet on Web3 & Creators on the official Youtube Blog.
With Facebook, Twitter, TikTok, and Instagram all adding some NFT functionality directly on platform, Youtube has been quiet on Web3 additions. However: this snippet from the CPO shows they’re actively monitoring Web3’s benefits and hints of future potential involvement:
“Web3 also opens up new opportunities for creators. We believe new technologies like blockchain and NFTs can allow creators to build deeper relationships with their fans.”
Together, they’ll be able to collaborate on new projects and make money in ways not previously possible. For example, giving a verifiable way for fans to own unique videos, photos, art, and even experiences from their favorite creators could be a compelling prospect for creators and their audiences. There’s a lot to consider in making sure we approach these new technologies responsibly, but we think there’s incredible potential as well.”
Link to full blog post from Youtube
Blockchain infrastructure provider Gateway.fm closed a $4.6 million round led by Lemniscap. CMT Digital, the LAO DAO, Fantom Foundation and Unstoppable Domain Ventures were among the investors who participated in the raise - TheBlock
Blockchain.com Shopping Assets to Fill $270M Hole From Three Arrows Capital - Decrypt
Animoca Brands invested in EthSign, a decentralized electronic signature platform. EthSign is building a new token management platform called TokenTable. - TheBlock
ZK dark pool startup Renegade breaks cover with $3.4 million from Dragonfly, Naval Ravikant - TheBlock
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EtherMail
"Reimagining Email for Web3."
Type of Product: Web3 Messaging
Purpose of Tool: EtherMail is a web 3.0 email solution that allows for anonymous and encrypted communication between wallets. It works by aligning users with advertisers and rewarding users for their valuable contributions. It uses end-to-end encryption for emails sent between EtherMail users and TLS encryption for emails sent to or from non-EtherMail users.
Anonymous communication
End-to-end encryption for emails sent between EtherMail users
TLS encryption for emails sent to or from non-EtherMail users
Incentive alignment guided by foundational principles
Rewards users for their valuable contributions
Zero-access encryption for emails stored on servers
Team / Funding / Backers / Other Info: Ethermail announced the release of a new product on February 17th that allows users to use their ENS or UDS as an Ethermail alias. With this new feature, users can access their email accounts with an alias name that is easy to remember.
Link to product | Link to TFC listing
DefiLlama Meta Aggregator
“Open and transparent DeFi TVL and analytics"
Type of Product: Aggregator
Purpose of Tool: DefiLlama Meta Aggregator is designed to help users find the best price when buying any crypto on almost any EVM chain. It is a swapping aggregator that queries the prices from different decentralized exchanges (DEXs), such as 1inch, cowswap, and matcha, and then offers the user the best price. It is also very quick at fetching results and can easily search tokens from Coingecko.
Aggregates all DEX aggregators – query the price in 1inch, cowswap, matcha, and then offer you the best price among all of them.
Eligibility for aggregator airdrops – execute swaps directly against the router of each aggregator, if any aggregator integrates does an airdrop in the future, all swaps made through them would be eligible for their airdrop.
Zero fees on swaps – You’ll get the exact same price swapping through DefiLlama as what you’d get swapping through the chosen aggregator directly.
Quick search results – It quickly fetches results and can easily search tokens from Coingecko.
Team / Funding / Backers / Other Info: The meta aggregator was recently launched on January 2nd, 2023 by DefiLlama. DefiLlama's Meta aggregator is available in 22 different chains.
DeFiLlama is used across a large number of media organizations and financial institutions. These include CoinGecko, Bloomberg, Business Insider, Morgan Stanley, CoinMarketCap, Coindesk, Yahoo! Finance, Decrypt, Wall Street Journal, and much more.
Link to product | Link to TFC listing
Linkdrop
“Distribute NFTs with claim links and QR Codes."
Type of Product: NFT Tool
Purpose of Tool: Linkdrop is a service that enables users to distribute Non-Fungible Tokens (NFTs) with claim links and QR codes. It provides users with an easy and secure way to deliver NFTs to their recipients, even those who don't have a wallet yet. Linkdrop also automates the process of claiming NFTs, making it quick and convenient.
Users can choose or create a wallet: First-time crypto users will be guided to set up a wallet without needing an address.
Users pay no fees: Token claims can be sponsored on Mainnet or Polygon, where they are practically free.
Link NFTs to physical products: Users can print QR codes and attach them to physical products, allowing customers to scan the code and claim an NFT.
Add NFTs with purchase: Users can add a claim link to the purchase email receipt, letting customers claim an NFT with their purchase.
Team / Funding / Backers Info / Transaction Amount: Ledger and Linkdrop recently announced their partnership for Ledger, with the integration of Linkdrop's NFT claiming technology via QR codes to be available for the Ledger Op3n platform on December 15, 2022. Ledger has created a specialized custom dashboard to generate a batch of QR codes tailored specifically for the partnership.
Link to product | Link to TFC listing
Alongside
"Diversify into the crypto market with a single token”
Type of Product: DeFi
Purpose of Tool: Alongside is a crypto index-focused platform that simplifies access to crypto investing. It enables users to gain broad exposure to the entire crypto asset market through a single token, the Alongside Crypto Market Index ($AMKT).
Index-based: Alongside uses index products to measure the market performance of digital assets available on crypto exchanges.
Single Token: With one token, users can gain exposure to the entire crypto asset market.
Weighting Methodologies: Alongside utilizes circulating market capitalization to weight its indexes.
Low Fees: Alongside offers low fees compared to traditional investing, saving users billions of dollars.
Easy Access: With Alongside, users can easily access the crypto markets without needing to trade in and out of assets, read and analyze whitepapers, or stay on top of market trends.
Team / Funding / Backers / Other Info: Alongside, a startup co-founded by Diamond, Jun Ho Hong, Gauthier Le Meur, and Rai Sur has secured $11 million in a round of funding led by Andreessen Horowitz (a16z). The round was also backed by Coinbase Ventures, Franklin Templeton Investments, Village Global, Not Boring Capital, as well as angel investors. The funding will be used to further develop their products and services.
Link to product | Link to TFC listing
Artemis | Analysis | Link to product
PIP | Community Tool | Link to product
Plaid Wallet Onboard | Crypto Wallet | Link to product
Kleoverse | Web3 Jobs | Link to product
Exponential DeFi | DeFi | Link to product
Den | Software Engineer | Link to position
MoonPay | Graphic Designer | Link to position
Phantom Wallet | DevOps Engineer | Link to position
Paxos | Treasury Analyst | Link to position
Alchemy | Growth Engineer | Link to position
Nansen | Head of Demand Generation | Link to position
Polygon | Blockchain Engineer | Link to position
LayerZero Labs | VC Analyst | Link to position
Fireblocks | Business Operations Manager | Link to position
Magic Eden | Product Designer | Link to position
Decentraland | Sr. Data Engineer | Link to position
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