⚡ TFC Newsletter: 03/24/2023
Uniswap Releases Mini Portfolio Tool, Reddit Tests Token Gating, NFT Lending Aggregator, New Web3 Wallets, and more!
💡 Intro
🥳 Happy Friday!
Another major week in Web3, with the Arbitrum Airdrop netting millions in free money, Sony filing NFT patents for Playstation, leaks showing Microsoft Edge is testing a crypto wallet, and more.
The past month has had so many Web3 updates from big companies that it feels like real progress is being made towards major adoption.
And until then: we’ll be covering them here at TFC for you!
Uniswap adds Mini Portfolio tool: Yesterday, Uniswap released an in-app portfolio tool that makes it easier to:
Track LP Pools you currently have
View your NFTs
See all your token balances in one place
and more!
Why This Matters:
The top Web3 products are increasingly expanding from their main utility into new functions. Uniswap’s latest move mirrors Metamask’s Portfolio Tool creation just a few months ago
Competition for Web3 users is heating up
As Web3 products launch new functionality/utility: there’s potential for greater user rewards. These platforms typically reward users who interact with new products they roll out.
Reddit’s initial NFT experiments went ignored by Crypto Twitter until they were too big not to notice. Now: over 5M Reddit NFTs have been minted making it a gold standard in Web3 adoption.
Lately: Reddit is experimenting with token gated communities. The screenshot below shows this user experience and the tweet below it is from the cofounder of Polygon.
Keep an eye out for Reddit rolling out more token gated functionality: there could future potential opportunities there.
Particle Network / $7M— Particle Network, a wallet middleware solution has raised $7 million from investors including ABCDE, Animoca, Longhash Ventures, GSR Ventures and HashKey. — The Block
Radix / $10M — Radix Tokens, a DeFi full-stack, has raised $10 million in a funding round led by market maker and investment firm DWF Labs. This gives Radix Tokens a valuation of $400 million. — CoinDesk
Landvault / Undisclosed — LandVault, a top metaverse construction company, completed a new round of funding with well-known Web3 firms. Investors include The Sandbox (a subsidiary of Animoca Brands), HodlCo, Gemini Frontier Fund, and Kingsway Capital. — Zawya
Hadean / $5M — Metaverse Infrastructure Hadean has raised an additional $5 million in funding. Ericsson Ventures, Metrea Discovery, VU Venture Partners, Sanctor Capital and Tirta Ventures all contributed to the additional funding. — VentureBeat
NoCap Meta / $0.25M — Sunicon Ventures has investedin NoCap Meta, a web3 company that provides a wide range of services including blockchain-based systems, metaverse development, and asset-backed tokens. — Business News
Versa / Strategic — Versa, a smart contract wallet has raised an undisclosed amount in a strategic seed round led by Find Satoshi Lab along with Folius Ventures and a few strategic angels. — Tweet
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OP3N
"WhatsApp meets Amazon’ for web3"
Type of Product: Community Platform
Purpose of Tool: OP3N is a chat-based SuperApp that combines the best of Web2 and Web3 technologies to offer users an all-in-one experience. The platform's focus is on chat, commerce, community, and unique experiences, making it a one-stop-shop for users.
Very interesting Web3 social tool that just raised $28M this week.
They’ve been building since 2021 and are now ramping up community creation on platform.
Direct engagement between artists and their fans through token-gated access and experiences, which allows artists to publish their work directly to the platform and interact with their fans.
Integration of blockchain and decentralized technologies into Web2.0-friendly interfaces, allowing users to add audio, video, and mixed media content to on-chain interactions.
NFT-gated experiences that allow artists and creators to offer fans new ways to engage through experiences that fans can purchase at different price points.
A chat-based interface that provides users with a seamless and familiar way to interact with the platform, enhancing user experience and engagement.
Team / Funding / Backers / Other Info: On March 21st, 2023, OP3N, a startup, disclosed to TechCrunch that it had successfully completed a Series A funding round, raising $28 million. The company's current valuation has reached $100 million as a result of this financing round. Goodwater Capital, Soma Capital, 500 Global, and WhaleShark, among others, were among the investors who participated in OP3N's seed round, which raised $10 million in 2021.
Link to product | Link to TFC listing
Gryfyn
“A Digital Asset Custodial Wallet to access Web3 experiences"
Type of Product: Wallet
Purpose of Tool: Gryfyn is a custodial crypto wallet that offers users a secure and user-friendly experience to access the Web3 ecosystem. It is an NFT-centric multi-chain wallet built on Hex Trust's licensed and insured institutional-grade infrastructure. Gryfyn aims to onboard users to the world of Web3 and provide a seamless and secure way to handle digital assets.
Animoca Brands (top metaverse VC, $1B+ raised) publicly launched Gryfyn this week.
Knowing Anomica Brands’ success in Metaverse and events: it’s worth checking out.
Bank-grade Security: Gryfyn offers fully licensed and insured institutional-grade infrastructure from Hex Trust, ensuring that users' digital assets are secure.
Multi-chain Wallet: Gryfyn supports multiple blockchains, enabling users to interact easily and securely with various Web3 products.
NFT-centric: Gryfyn focuses on NFTs, which have been gaining popularity in the digital world, providing a unique experience for users to own and handle their NFTs easily.
Integration with Brands and Events: Gryfyn provides users with the opportunity to connect with their favorite brands and engage in events through their digital passport.
Team / Funding / Backers / Other Info: On March 21, 2023, the public launch of Gryfyn was announced by Animoca Brands, a digital entertainment company. Gryfyn, which has received funding of US$7.5 million, has completed its fundraising round with support from various backers such as GameFi Ventures, Mind Fund, Liberty City Ventures, Lavender Hill Capital Partners, and Animoca Ventures.
Link to product | Link to TFC listing
SnowGenesis
“The Insights Layer for NFT Financialization"
Type of Product: NFT Lending Aggregator
Purpose of Tool: SnowGenesis is an aggregator for NFT lending, allowing users to discover, monitor, and take action on NFT trends and lending data.
Very cool lending aggregator: only one we know of currently that lets you view rates across NFT lending platforms
Real-time NFT trend discovery: Users can use SnowGenesis to discover NFT trending collections in real-time
Sales monitoring: SnowGenesis also enables users to monitor sales of NFTs, providing insight into market demand and trends.
Lending data monitoring: Users can also monitor lending data of NFTs used as collateral in various third-party protocols, providing them with valuable information on NFT loan offers and interest rates.
Loan offers: SnowGenesis features a loan offers section, which displays collection offers and stats on accumulated offers for each currency. Users can check this section to see if there are loan collection offers for their specific collection.
Borrower liquidity discovery: Users can quickly find out how much they can instantly borrow against their NFTs using SnowGenesis' borrower liquidity discovery feature.
Loan listings Discord channel: SnowGenesis has integrated the NFT Loan Listings bot in their Discord server, allowing users to receive notifications whenever a new loan listing is available.
Team / Funding / Backers Info / Transaction Amount: On February 21, 2023, SnowGenesis announced their mobile feature that allows users to access their lender or borrower profile from anywhere. This update makes it easier for users to stay up-to-date on their loans while on-the-go.
Link to product | Link to TFC listing
Upshot
"Financial Infrastructure for NFTs”
Type of Product: NFT Analytics
Purpose of Tool: Upshot is a platform that leverages machine learning and DeFi x NFT primitives to make NFT financial markets more accessible to collectors and investors. It offers a range of tools to interact and explore NFT markets in various ways.
Dealfinding: Upshot's NFT aggregator is integrated with appraisals to help collectors find the best deals in the NFT market.
Real-time portfolio tracking: Users can track the value of their NFT portfolio through near real-time appraisals.
Trading strategies: Upshot's API can be used to build smarter trading strategies, informed by appraisals, liquidity analyses, and other advanced statistics.
Smart collector tracking: Upshot offers a grading index for NFT wallets, called GMI, which can be used to identify and track the smartest collectors in the space.
Instant Sell: Upshot is developing an instant sell feature that will allow users to access existing liquidity and open interest to sell their NFTs instantly.
NFT Lending: Users can gain exposure to NFT lending markets through Upshot's lending aggregator or managed lending products.
Team / Funding / Backers / Other Info: On March 21st, 2023, Upshot announced the launch of their Developer Portal, which is now available for use. The portal allows developers to sign up for the Upshot API and create and manage their API keys all in one place. The portal is currently in its initial version, and Upshot plans to add more features to it in the upcoming weeks.
Link to product | Link to TFC listing
Arweave | Analytics | Link to product
Ascenders | Metaverse Games | Link to product
Noox | Web3 Tool | Link to product
NFTEye | NFT Analytics | Link to product
GrizzlyFi | DeFi | Link to product
MetaMask | Data Analyst | Link to position
Circle | Senior Software Engineer | Link to position
Foundation | Sales & Partnerships Lead | Link to position
Chainlink | Web Designer | Link to position
Gemini | Social Media Intern | Link to position
Archimedes Finance | Product Manager | Link to position
ZORA | Senior Accountant | Link to position
Uniswap Labs | Senior Frontend Engineer | Link to position
Ethereum Foundation | Rust Engineer | Link to position
Web3Auth | Senior DevOps Engineer | Link to position
Chainalysis | Staff Software 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!