⚡ TFC Newsletter: 05/02/2023
Lens Protocol Launches Momoka, Blur's Release Data, Web3 Wallets, Metaverse Tooling, and more!
💡 Intro
Lens Protocol Launches L3 scaling solution, Momoka: In arguably the biggest Web3 Social update of the year, Lens Protocol has released their L3 scaling solution Momka
Web3 Social has major advantages over Web2 Social including:
Ownership and control of data: Users have greater control of their own data in Web3.
Censorship Resistant: Having data stored in a decentralized way means users can leave networks and join new ones with their activity/followers intact.
Fault Resistant: A platform failure is less impactful than in Web2, as a new platform can be spun up and started with the same data.
One of the major barriers to Web3 Social adoption is infrastructure and scaling.
Updates like this from Lens (which is currently the largest Web3 Social protocol) bring Web3 Social much closer to mainstream adoption.
Yesterday, Blur launched their major platform update around NFT lending.
It’s currently the most talked about topic on Crypto Twitter, but has it had a major effect on Blur’s activity?
What You Should Know:
Its greatly increased Blur’s NFT Marketplace Volume: Blur reached 74% daily volume marketshare yesterday, the highest in the past month.
It didn’t increase the number of sales or users on the platform: This implies power users & heavy traders might be trading on Blur more, but the launch didn’t pull the average NFT trader
Current are SUPER advantageous for borrowers: This likely will not stay over time, but currently Blur is giving very low rates to borrowers. This has caused spikes in NFT collections like we mentioned would happen yesterday, as big borrowing started.
GOALS / $20M — Online game developer Goals has raised $20 million in a Series A funding round to continue the development of a soccer video game based on non-fungible tokens (NFTs), which aims to offer an alternative to traditional soccer simulations like EA Sports FC. — Blockchain Gamer
FARE Protocol / $6.2M — In a seed round led by Goat Capital and C Squared Ventures, FARE Protocol, a platform offering probability contracts for decentralized applications, has raised $6.2 million. Justin Kan, the founder of Twitch, manages Goat Capital. — CoinDesk
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Ethos Wallet
"Your home base for web3 on Sui."
Type of Product: Crypto Wallet
Purpose of Tool: Ethos is an all-in-one wallet for Sui blockchain users. It is a Chrome extension that provides users with an easy and secure way to engage with Sui tokens, NFTs, and dApps. It is designed for both newbies and experienced users alike, allowing them to explore, manage, and transact with Sui assets with ease.
With the SUI Mainnet coming in 2 days, Ethos Wallet is a good wallet to explore the network if you’re looking for one.
Ethos Wallet allows users to explore a variety of Sui tokens and NFTs, manage multiple wallets, and switch between light and dark modes. Plus, they can access the Sui DevNet and TestNet with the added bonus of a built-in token faucet.
With the full screen wallet explorer, users can discover the best dApps Sui has to offer and seamlessly interact with all of their crypto, NFTs, and dApps.
Ethos Wallet provides users with all the details of their transactions, including a full dry-run to ensure safety. They also have the option of pre-approving certain transactions for added security.
EthosConnect NPM package allows developers to onboard users directly into their applications in minutes. This package supports all wallets on Sui, saving developers time and effort.
Team / Funding / Backers / Other Info: On January 26th, 2023, a seed funding round led by Boldstart Ventures and gumi Cryptos Capital raised $4.2 million for Ethos Wallet. The Sui-based wallet attracted investors such as Mysten Labs, Tribe Capital, Matrixport, Charge Ventures, Builder Capital, Alliance DAO, and Meltem Demirors, Chief Strategy Officer of CoinShares.
ENS Manager App
“Your identity across web3."
Type of Product: Web3 Identity Manager
Purpose of Tool: ENS Manager App is a tool that allows users to organize and manage their .eth addresses and wrapped names. Its intuitive interface and user-friendly design make it easy for users to navigate and customize their profiles to suit their needs. Here are some of the key features of ENS Manager App:
Brand new update from the ENS Team.
The released this manager app that makes organizing ENS handles much easier.
The "Connect" tab provides access to a wealth of information and resources, including support, GitHub, governance, and even a link to the old ENS app.
The app now allows users to pay with fiat via Moonpay, opening up the world of web3 to a wider audience.
Registering a name on the new ENS app is now a breeze, with a clear, step-by-step process that eliminates confusion and gives users the option to set primary and text records right away.
Users can easily set their avatar and customize their profiles with records or add customizable ones for a personalized touch, like a decentralized phone book.
The most exciting feature of ENS Manager App is the ability to wrap names. Subnames that are transferred to the Name wrapper contract are now ERC-1155 NFTs, making them tradable and transferable. This creates a decentralized filing system with rental options for ENS names.
Team / Funding / Backers / Other Info: ENS reported impressive growth in its metrics for the month of April 2023. Over 27,000 new .eth registrations were added to the existing 2.8 million names, generating $1.7 million in protocol revenue for the ENS DAO.
Additionally, 17,000 new Ethereum accounts with at least one ENS name were recorded, bringing the total to 690,000. There were also 3,001 Avatar records set, raising the total to 77,000, and 838 DWeb content records set, bringing the total to 20,459.
Link to product | Link to TFC listing
IYK
“Bridging the physical and digital worlds."
Type of Product: Verifier Tool
Purpose of Tool: IYK is a company that aims to integrate the digital and physical worlds using blockchain technology. Their goal is to enable companies, communities, and creatives to leverage the benefits of blockchain to amplify the purpose of consumer goods and allow consumers to access magical experiences using crypto.
IYK Card: The IYK Card is a tool that allows individuals to seamlessly share their digital identity with people they meet in person. It is embedded with an NFC chip and can be configured to showcase on-chain identity, share contact details with a single tap, showcase and distribute POAPs, and display favorite links.
IYK Disc: The IYK Disc is made of resin and is NFC-enabled. It allows individuals to create an elevated experience for attendees at their parties, concerts, or other in-person events. Attendees can tap the disc with their phones to mint a POAP linked to their presence at the event. The disc is linked to an NFT that is claimable upon physical delivery.
Tokenization: IYK's technology allows companies to verify and reward fandom across the entire spectrum of consumer engagement. It tokenizes physical items and IRL experiences, building tools for brands and creators to deliver new, innovative experiences.
Team / Funding / Backers / Other Info: On April 27th, 2023, IYK had a successful presence at NFT NYC. 23,000+ taps of IYK products were recorded, 1,500+ IYK-chipped 9dcc hats were distributed, and 1000+ adidas / BBC ICECREAM / Mona garments were powered by IYK.
Link to product | Link to TFC listing
Giddy
"Your Keys. Your Crypto.”
Type of Product: Crypto Wallet
Purpose of Tool: Giddy is a smart crypto wallet that aims to make crypto investing easy and rewarding for everyone. It offers several unique features that set it apart from traditional wallets and investment platforms.
Very cool wallet that just raised $7M in funding.
One of Fortnite’s co-creators is behind the wallet.
World-class security: Giddy's expertise in security ensures that users' funds are always safe. It eliminates the need for long seed phrases and private keys, which can be difficult to keep track of.
Ultra-low fees: Giddy doesn't charge huge fees for moving funds around. It passes along the rewards of crypto investing to its users.
DeFi: Giddy makes it easy for anyone to participate in Decentralized Finance (DeFi). This is a concept that eliminates the need for middlemen like banks and allows everyone to benefit from a more efficient system.
Private keys: With Giddy's decentralized private key security solution, users can hold their funds without worrying about seed phrases or private keys.
Gas fees: Giddy eliminates the need for users to set aside a portion of their funds for network fees. This can save users hundreds of dollars per transaction.
Smart contract approval: Giddy ensures that users approve the exact right amount of funds for each transaction. This eliminates the risk of making mistakes that could cost users all of their funds.
Team / Funding / Backers / Other Info: On April 14, 2021, Giddy announced that it had raised $6.9 million in funding, bringing their total investments to over $15 million. The new funding was provided by Pelion Venture Partners, Peak Capital Partners, Clarke Capital, and Fortnite co-creator Geremy Mustard. In 2022, Pelion Venture Partners also led Giddy's $8 million funding round.
Link to product | Link to TFC listing
Perk Shop | Community Rewards | Link to product
CRYPTOTAG | Crypto Safety | Link to product
PARSIQ | Analytics | Link to product
Sintra | NFT Tool | Link to product
Shyft | Dev Tool | Link to product
Magic Eden | Product Management Lead | Link to position
Chainalysis | Product Designer | Link to position
Blockdaemon | Sales Executive | Link to position
Quicknode | Senior Support Engineer | Link to position
Polygon | Treasury Manager | Link to position
Dune Analytics | Head of Growth | Link to position
Optimism | Governance Operations Coordinator | Link to position
Solana Foundation | Social Media Strategist | Link to position
Orb Labs | Marketing & Community Management | Link to position
Circle | Content Writer Intern | Link to position
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Disclaimer: None of this is to be deemed legal or financial advice of any kind. Always DYOR!