Twitch's Founder NFT Marketplace - The WAGMI Journal #41
Your founders' favorite founder is back with a new gig.
In today’s issue:
The crypto market is flat with the global market cap sitting at ~$2.1-2.2 trillion. $DOGE soared while BTC CME Futures slip into backwardation, indicating a bearish sentiment. The US Senate will vote to lift the government debt ceiling while markets slip due to uncertainties over the Omicron variant, Evergrande default, and inflation concerns.
In other news, Robinhood plans crypto gifting feature, Twitch’s co-founder Justin Kan plans to launch a gaming NFT marketplace, and Musk teases Dogecoin payment use-cases.
We’re continually improving our content, please reach out if you have any other ideas or would like us to recap a segment of the market.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Robinhood Crypto Gifting Feature
According to code found in a beta version of Robinhood’s iPhone app, the firm is working on a feature that enables users to send crypto to other users. Unfortunately, this interaction seems to be limited to users within the platform, which most likely means that users still can’t send crypto assets to other crypto wallets outside of Robinhood. That said, previous code findings have also revealed that support for crypto wallets might also come in the future.
⎆Justin Kan Gaming NFT Marketplace
Justin Kan, the co-founder of live streaming juggernaut Twitch, is launching a gaming NFT marketplace on Solana. Named Fractal, the firm will provide a primary market and secondary market where gaming companies and end-users can transact NFTs. Other founders include Robin Chan, who founded XPD Media and Zynga, as well as Mike Angell, who previously worked at Fast and Shopify. Kan’s move makes perfect sense, especially given his industry networks and previous experience. Hopefully, this will change the negative sentiment that NFTs have been receiving from the gaming community.
⎆Musk Teases Dogecoin Payment Use-Cases
When the entire crypto market is down, DOGE rallied as Musk teased that Tesla would accept the token as payment for its merchandise. Musk has been a long-time proponent of the meme token and has previously provided support to dogecoin development and adoption.
👨🏻💻Decentralized Finance (DeFi)
Daniele Esta Proposes a Proposal to Restructure $SUSHI
Robinhood Turns to Chainalysis for Data, Compliance Tools
Euler Finance Launches New DeFi Lending Platform in Crowded Market
Remote Working Startup Deel Adds USDC and Solana Withdrawals
🏛Governance - Active Proposals
Compound - Risk Parameter Updates for WBTC, BAT, and LINK
Compound - Add Market: USDP
Uniswap - Should Uniswap v3 be deployed to Polygon?
Babylon Finance - BIP-5: Garden Seed Program
PoolTogether - PTIPs 50 & 51: FEI & Avalanche
Fei - FIP-53: Farm d3Pool on Convex
🦮NFT & Metaverse
Twitch Co-Founder Justin Kan Launches Gaming NFT Marketplace on Solana
Bored Ape Yacht Club to Launch Play-to-Earn NFT Game
SK Square to Demand Metaverse Presence for Portfolio Companies: Report
Sportswear Giant Nike Purchases NFT Startup RTFKT
96 Private Keys Stolen from Vulcan Forged in $140 Million Theft
Community-focused DAO Onboards CNBC Anchor Jon Najarian as a Council Member
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Digital Village - $2M Pre-Seed Round
ATTA - $2M Seed Round
SOUNI - $5M Seed Round
Block Earner - $6.4M Seed Round
Lattice - $20M Venture Fund
C2 Ventures & Gala Games - $100M Blockchain Gaming Fund
InfiniteWorld - $700M in SPAC Merger
⚖️Regulatory Update
Bank of Russia Bars Mutual Funds From Investing in Crypto
BOE Says Growth of Crypto Could Pose Risks for Financial Stability
Germany’s Savings Banks Could Introduce Crypto Trading Next Year: Report
Bank of England Calls for Global Tightening of Crypto Regulation
Hester Peirce: SEC Chair’s Regulatory Agenda Fails to Include Clarity on Crypto
📚Noteworthy Reads
Coopahtroopa’s Thread on How to build community in web3
Li Jin’s Thread on Token Network Effects
Kyle Samani’s Thread on the Next Bear Market
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.
DISCLAIMER:
All the information presented on The WAGMI Journal publication and its affiliation is strictly for educational purposes only. It should not be construed or taken as financial, legal, investment, and any other forms of advice. Writers, authors, and contributors of The WAGMI Journal may hold any assets mentioned in the issue.