🐦Twitter NFT Profile Pictures - The WAGMI Journal #67
Now I can truly flex my bad purchases to more friends.
In today’s issue:
The crypto market is down with the global market cap sitting at ~$1.8-1.9 trillion. Weirdly, the old SafeMoon token is the only crypto asset in the top 100 that generated positive returns in the past 24h. While the Fed is considering a rate hike, economists suggest that policymakers in China might cut rates or even start directly intervening in the foreign exchange market.
In other news, Twitter enables NFT profile pictures integration, Meta plans its own NFT marketplace, and Robinhood begins testing its crypto wallet.
We’re continually improving our content, please reach out if you have ideas or would like us to recap another segment of the market.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Twitter NFT Profile Picture Integration
Not long after Jack Dorsey stepped down, Twitter ramped up its crypto initiatives by adding a new feature that allows NFT owners to verify and use it as a profile picture on the platform. While the crypto crowds are happy with the integration, other users including Elon Musk criticized the move, saying that the resources should’ve been used to fight scammers instead.
⎆Meta NFT Marketplace
Facebook’s parent company, Meta, is planning to do what Twitter has just done, which is enabling users to create and display NFT profile pictures. Additionally, the firm is going one step further and even planning an NFT marketplace integration that will allow users to mint tokens in the future. If implemented properly, this will enhance the notion of digital goods scarcity and carry upon the power of luxury/scarce brands to the virtual space.
⎆Robinhood Begins Testing Crypto Wallet
Mobile trading platform Robinhood has long been criticized for not actually providing users with crypto wallets, hence preventing users from fully owning their crypto assets. The firm has since teased crypto wallets as an upcoming feature and now has made a substantial step by launching the beta version for 1,000 customers. Beta testers will have a daily limit of $2999 in total withdrawals and 10 transactions.
👨🏻💻Decentralized Finance (DeFi)
Multichain Recovers Some Stolen ETH After Hit by $1.9M Exploit
Aave Cranks Up Institutional Play With Launch on Layer 2 Networks
SundaeSwap Launches on Cardano but Users Report Failing Transactions
1inch Network Expands to Avalanche and Gnosis Chain
EOS Creator Dan Larimer Is Back
🏛Governance - Active Proposals
Compound - Dynamic Risk Parameters - Quarterly Update
Babylon Finance - BIP-9: Development Fund
Ethereum Naming Services - Execute EP5
Fei - FIP-68: REPT-B Redemption and RGT Migration Future Expiry
Gitcoin - DeveloperDAO Partnership
🦮NFT & Metaverse
Twitter Launches NFT Profile Picture Verification
Meta Reportedly Plans to Integrate NFTs on Facebook & Instagram Profiles
Jefferies Sees the NFT Market Reaching More Than $80B in Value by 2025
UFC Joins NBA, NFL in Dapper Labs’ Sports NFT Suite
Bud Light Owns a Nouns Ethereum NFT—And May Use It in Super Bowl Ad
Serena Williams Appointed as Board Advisor for NFT Platform Sorare
Adidas Originals and Prada Announce User-generated NFT Project
Top Sales (Last 24-h); Source: https://dappradar.com/nft
It was suspected that these trades were wash trading on the LooksRare marketplace.
📈Deal Flow & Capital Raise
Cyber - $6.7M Unknown Round
Aleph.im - $10M Unknown Round
Stader Labs - $12.5M Unknown Round
STEPN - $5M Seed Round
Soma.Finance - $6.5M Seed Round
ShakePay - $35M Series A
BlockFills - $37M Series A
Agoric - $50M on CoinList
Paxos - Undisclosed $ Strategic Investment from Mercado Libre
⚖️Regulatory Update
FINRA Considering Changes to Crypto Regulations
In Fed’s CBDC White Paper, Fed Flags Privacy, Financial Stability Risks
Russia's Central Bank Calls for Blanket Crypto Ban
SEC Rejects Proposed Spot Bitcoin ETF From First Trust and SkyBridge
Witnesses Debate Crypto Mining's Efficiency in Congressional Hearing
📚Noteworthy Reads
Billy’s Thread on 2022 Predictions/Themes/Narratives, Volume 3
Delphi Intern’s Notes on ve(3,3) with Andre Cronje and Daniele Sesta
Packy McCormick’s Read on The Web3 Debate
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.