⚡ TFC Newsletter: 03/14/2023
Instagram Ditches NFTs, Major Metamask Update, Web3 Data APIs, Hypernodes, Web3 Music, and more!
💡 Intro
Yesterday: the executive in charge of Web3 initiatives like Instagram’s NFT integration announced they’re halting their digital colletibles integrations.
What This Means For Web3:
A loss for NFTs: This certainly a negative for NFTs, as having NFTs integrated correctly into a mainstream platform like Instagram could’ve helped change the opinion of non Web3 users in a positive way.
This shouldn’t affect confidence in Web3: Meta is in the midst of restructuring and downsizing efforts related to macro fears (they just announced another 10k layoffs today). This move should be viewed as a refocusing on monetization efforts instead of a lack of utility in NFTs & Web3.
Web3 integration still isn’t easy for large companies: While Meta did invest a lot of resources into their IG integrations: there was still a ton of work to do to make it actually UI/UX friendly for users. The space still needs to evolve to make this lift much easier.
Full thread from the Meta executive leading Commerce & FinTec at the company:
Speaking of UI/UX improvements:
Today: Metamask released an update that adds some big changes to Metamask Mobile and Metamask Extension. Here’s the full breakdown you should know:
Revamped UI: you can toggle between your wallet and browser in a single tap within MetaMask Mobile. This makes it much easier to use Metamask on mobile.
Choosing Accounts: Before, all the accounts in your wallet were automatically linked. Now you have the option to choose which accounts to connect with, and disconnecting individual accounts has become more straightforward.
Wallet Creation: You are now prompted to confirm the first three words of your Secret Recovery Phrase (SRP) when creating a MetaMask wallet.
RPC Providers: You can choose any RPC provider during onboarding and opt out of their default, Infura.
Data Privacy: You can disable certain features that send requests to third-party APIs under the “Advanced configuration” settings, including for Incoming Transactions, Phishing Detection, and custom networks.
More details in the thread below:
Alex / $2.5M — Alex, a decentralized exchange for Bitcoin, has recently secured $2.5 million during its strategic round from investors such as Trust Machines and Gossamer Capital. — The Block
DressX / $15M — DressX, a fashion tech firm, recently closed their Series A funding round worth $15 million. The round was led by Greenfield and included contributions from Slow Ventures, The Artemis Fund, Red Dao and Warner Music. — The Block
Smooth / $2M — Smooth Labs, a blockchain infrastructure startup, raised $2 million in a seed funding round. The round was led by NGC Ventures with additional investments from Cogitent Ventures, ArkStream Capital and Token Metrics of Ian Balina. — The Block
Orbs / $10M — Orbs, a crypto infrastructure developer, recently announced it is raising up to $10 million from DWF Labs. The funding will be used to develop its infrastructure further in order to facilitate increased adoption on both the Ethereum Virtual Machine (EVM) chains and The Open Network (TON). — The Block
Moxy / $10M — Moxy, a platform enabling gamers to engage in Real Competition for Real Rewards, has attracted significant interest from investors, raising more than $10 million in investments from Shima Capital, Polygon, MetaTope, and GSR. — CoinCarp
Afun Interactive / $5.3M— Afun Interactive, specializing in real-time 3D content production, has received a substantial investment of 7 billion won ($5.3 million) from Shinhan Asset Management through Series A bridge funding. — CoinCarp
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Bolero
“A record label for every pocket"
Type of Product: Web3 Music
Purpose of Tool: Bolero seeks to create a better and fairer relationship between artists and their fans. Through Song Shares and Fan Tokens, Bolero enables users to purchase pieces of songs from their favorite artists and invest in Fan Tokens which represent an artist’s entire career.
Bolero's NFT Compilation is a bundle of Music NFTs which are minted by multiple artists & showcased using the same identity. The bundle can contain different types of NFTs, including collectible tracks, master shares, and event tickets.
Collectible tracks allow independent labels to showcase their roster with a set of unique NFTs. Master shares enable like-minded artists to connect in-depth with the same fans community by minting NFTs entitling the owners with shares of the revenue generated by the masters. Event tickets grant access to an event when all the NFTs in the compilation are purchased.
Song Shares - This revolutionary concept allows anyone to buy pieces of songs from their favorite artists. By purchasing these shares, users are able to build their own “record label”.
Fan Token – This token represents an artist’s whole career and it is fungible, meaning investors can buy or sell as much of it as they want over time.
Team / Funding / Backers / Other Info: On July 31, 2021, Bolero announced that it had raised $1M in Pre-Seed funding led by Newfund, an Early-Stage Cross-Border People-Driven Entrepreneurial VC firm. Bolero is headed by Co-founders William Bailey and Arthur Amon.
Link to product | Link to TFC listing
Covalent
“One unified API. One billion possibilities"
Type of Product: Blockchain Data API
Purpose of Tool: Covalent is a unified API that allows developers to quickly and easily access blockchain data using its simple RESTful interface. It enables users to build crypto- and blockchain-based applications by providing access to DEX data, ERC20 tokens, NFTs, liquidity pools, on-chain price feeds, and other related information across multiple decentralized exchanges (DEXs).
Fetch Blockchain Data: The Covalent Unified API provides an easy way to retrieve data from blockchains like Ethereum, Polygon, Solana, and more.
DEX Data: Developers can use the API to access transaction data, liquidity pools, universal on-chain price feeds, and other information from various Decentralized Exchanges (DEXs).
ERC20 Token Balances & NFTs: With the Covalent Unified API, users can also build wallets for cryptocurrencies and Non-Fungible Tokens (NFTs) with just one API call.
Historical Data: In addition, the API offers rich historical data across supported blockchains, allowing developers to create comprehensive tools.
Team / Funding / Backers Info / Transaction Amount: On March 24, 2021, Covalent announced the successful completion of a $2 million strategic private sale round. The funding was led by Hashed with participation from Binance Labs, Coinbase Ventures, Delphi Ventures, Hypersphere Ventures, and other ecosystem partners. This followed an earlier funding round in which Covalent raised $3.1 million.
Link to product | Link to TFC listing
Awaken
"The first tax software built for web3.”
Type of Product: Crypto Tax
Purpose of Tool: Awaken is a crypto tax software that provides services to accurately capture and identify all token, NFT, and DeFi transactions, calculate the cost basis, and generate tax reports. It offers support for major blockchains and exchanges as well as 24/7 customer service. It supports all the largest chains such as Ethereum, Polygon, Avalanche, BNB Chain, Optimism, Arbitrum, and Solana.
Integrates with all the major exchanges including Coinbase, Kraken, Binance, Gemini, and Kucoin, and offers spreadsheet uploads for an additional 100+ (Bitfinex, Crypto.com, Gate.io, etc.).
Captures and identifies all token, NFT, and DeFi transactions and calculates the cost basis correctly for each transaction.
Allows users to remain anonymous - only emails are required to sign up for the platform, no need to connect wallets or type in private keys.
Generates all the necessary crypto tax reports required by U.S. citizens for TurboTax, their CPA, or whatever tax software they are using (Form 8949 and Form 1040) to file taxes.
Link to product | Link to TFC listing
HyperNode by JustCubesNFT
"Improve TX speeds, secure hype mints, and snipe with ease using HyperNode."
Type of Product: ETH Node Service
Purpose of Tool: JustCubesNFT is an NFT project that provides holders access to a private full ETH node, multiple NFT analytical tools, and nostalgic games. It has 4,444 Cubes available for purchase which grant access to these features. It also has an educational component with pre-recorded videos and IRL events such as dinners, conferences and co-hosted gatherings.
HyperNode™: A private full ETH Node that helps improve transaction speed, secure Hype Mints and snipe with ease.
Tools: Access to multiple NFT Analytical tools to track whales and influencers wallets and notifications when they buy, sell or mint an NFT. This enables better investment decisions with improved portfolio ROI.
Games: Holders gain access to nostalgic games to compete for NFTS and prizes. Purchasing 5+ ETH floor NFT will provide access to the first JustCubes Giveaway.
Education: Full training framework to learn about NFTS from beginners to experienced traders. Pre-recorded videos on token gated platform, live minting & sniping trainings using various tools and strategies.
IRL Events: Dinners, NFT Conferences, Co-Hosted IRL events with other projects to meet NFT friends and build connections in the space.
Link to product | Link to TFC listing
Fitmint | Web3 Health | Link to product
REV3AL TECHNOLOGY | NFT Tool | Link to product
Concordium | Dev Tool | Link to product
Ascenders | Metaverse Game | Link to product
AVME | Crypto Wallet | Link to product
APY.vision | Principle Senior Developer | Link to position
Slingshot Finance | Community Manager | Link to position
Safe | Product Marketing Manager | Link to position
Crypto.com | Accounting Associate | Link to position
Enjin | DevOps Engineer | Link to position
Magic Eden | Communications Lead | Link to position
Chorus One | Platforms Engineer | Link to position
Aldrin Labs | Head of Engineering | Link to position
Kraken | Sales & Business Development Lead | Link to position
Coinshift | Data Engineer | Link to position
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Disclaimer: None of this is to be deemed legal or financial advice of any kind. Always DYOR!