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Allora Raises $3M As It Switches Focus to Building Decentralised AI Network
Quick take:
The fundraising attracted participation from Archetype, Delphi Ventures, CMS Holdings, ID Theory and DCF God.
The announcement comes ahead of Allora’s planned mainnet launch sometime this summer.
Allora plans to use some of the funds to expand its team of 35 with up to 7 new hires, primarily in the engineering department.
Allora Labs, formerly known as Upshot has secured a $3 million funding round from Archetype, Delphi Ventures, CMS Holdings, ID Theory and DCF God.
Allora is building a decentralised network as a layer-1 blockchain on the Cosmos stack to address a pressing issue in AI models, which co-founder and CEO Nick Emmons calls “siloed machine intelligence,” The Block reported.
This is not Allora’s first fundraising, having previously raised $32 million under its former brand Upshot, which focused on developing an NFT appraisals platform.
Its shift towards AI mirrors a growing trend in the blockchain sector as startups look to leverage the decentralised ledger technology to improve AI training and rewards models.
Commenting on his company’s decision to shift towards building decentralised AI models, Emmons said: “NFT appraisals were always meant to be just an initial focus area for leveraging AI and DeFi to build more efficient and expressive financial infrastructure.”
According to Emmons Allora wants to create a decentralised environment where models can collaborate to optimise shared goals, enhancing their performance and accuracy. “This significantly improves the quality of AI and the rate at which it can improve,” he said.
Emmons believes that if machine learning models could learn from each other, they could become more efficient and accurate. His platform is made up of sub-networks called “topics”, which essentially have specific goals to perform that are run by different parties.
Workers run machine-learning models while reputers and validators ensure network security and consensus, he said.
Allora Network is initially focused on developing AI-powered DeFi agents, but its technology could have a range of use cases, Emmons said. “We have been working with teams building applications related to AI-powered DeFi agents that execute more complex trading strategies in a decentralized way, AI-powered prediction markets, AI-powered lending and perpetual systems.”
This announcement comes ahead of Allora network’s planned mainnet launch sometime this summer. The company plans to use some of the fresh capital to hire 5-7 staff, primarily for the engineering department to add to its current staff of 35.
Commenting on the funding, Nick Emmons said in a statement: “This recent investment round underscores the significant strides we’ve taken since rebranding from Upshot to focusing on supporting the development of the Allora Network. With the mainnet launch on the horizon, we look forward to further collaboration with our partners and the broader AI community to foster a decentralized, self-improving AI network that democratizes access to top-tier machine intelligence.”
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The post Allora Raises $3M as It Switches Focus to Building Decentralised AI Network appeared first on NFTgators .
The fundraising attracted participation from Archetype, Delphi Ventures, CMS Holdings, ID Theory and DCF God.
The announcement comes ahead of Allora’s planned mainnet launch sometime this summer.
Allora plans to use some of the funds to expand its team of 35 with up to 7 new hires, primarily in the engineering department.
Allora Labs, formerly known as Upshot has secured a $3 million funding round from Archetype, Delphi Ventures, CMS Holdings, ID Theory and DCF God.
Allora is building a decentralised network as a layer-1 blockchain on the Cosmos stack to address a pressing issue in AI models, which co-founder and CEO Nick Emmons calls “siloed machine intelligence,” The Block reported.
This is not Allora’s first fundraising, having previously raised $32 million under its former brand Upshot, which focused on developing an NFT appraisals platform.
Its shift towards AI mirrors a growing trend in the blockchain sector as startups look to leverage the decentralised ledger technology to improve AI training and rewards models.
Commenting on his company’s decision to shift towards building decentralised AI models, Emmons said: “NFT appraisals were always meant to be just an initial focus area for leveraging AI and DeFi to build more efficient and expressive financial infrastructure.”
According to Emmons Allora wants to create a decentralised environment where models can collaborate to optimise shared goals, enhancing their performance and accuracy. “This significantly improves the quality of AI and the rate at which it can improve,” he said.
Emmons believes that if machine learning models could learn from each other, they could become more efficient and accurate. His platform is made up of sub-networks called “topics”, which essentially have specific goals to perform that are run by different parties.
Workers run machine-learning models while reputers and validators ensure network security and consensus, he said.
Allora Network is initially focused on developing AI-powered DeFi agents, but its technology could have a range of use cases, Emmons said. “We have been working with teams building applications related to AI-powered DeFi agents that execute more complex trading strategies in a decentralized way, AI-powered prediction markets, AI-powered lending and perpetual systems.”
This announcement comes ahead of Allora network’s planned mainnet launch sometime this summer. The company plans to use some of the fresh capital to hire 5-7 staff, primarily for the engineering department to add to its current staff of 35.
Commenting on the funding, Nick Emmons said in a statement: “This recent investment round underscores the significant strides we’ve taken since rebranding from Upshot to focusing on supporting the development of the Allora Network. With the mainnet launch on the horizon, we look forward to further collaboration with our partners and the broader AI community to foster a decentralized, self-improving AI network that democratizes access to top-tier machine intelligence.”
Stay on top of things:
Subscribe to our newsletter using this link – we won’t spam!
Follow us on X and Telegram.
The post Allora Raises $3M as It Switches Focus to Building Decentralised AI Network appeared first on NFTgators .
Light Protocol and Helius Labs Introduce Primitive to Make PDA Account Storage in Solana “5000X” ...
Quick take:
The technology allows developers to store 100 compressed token accounts for around 4 hundred thousandths of one sol.
Developers and users can choose to compress their on-chain state, where only state roots are stored in on-chain accounts.
This allows them to reduce state costs by orders of magnitude while preserving the security, performance, and composability of the Solana L1.
Light Protocol and Helius Labs have teamed up to introduce “ZK Compression” on Solana. This new technology primitive allows developers to build applications at scale, according to documentation.
According to the document, “Solana programs can mix and match between compressed and regular on-chain state, allowing atomic interaction with multiple programs, accounts, and compressed accounts.”
With a compressed state, only state roots are stored in on-chain accounts, which allows them to reduce state costs by orders of magnitude while preserving the security, performance, and composability of the Solana L1.
The documentation also indicates that the technology allows developers to cut PDA account storage costs by up to 5000x, allowing them to store 100 compressed token accounts for ~0.00004 SOL versus an equivalent of 0.2 SOL on a regular on-chain state.
While compressed accounts are similar to regular Solana accounts, there are some differences.
Compressed accounts are stored in what the primitive refers to as “sparse state trees”, whereby, “only the tree’s state root (small fingerprint of all compressed accounts) is stored in the on-chain account space.”
Each compressed account is identified by its hash and each write to a compressed account changes its hash, the document explains. An address can also be optionally set as a permanent unique ID of the compressed account.
This is how the protocol can store states as call data in the less expensive Solana ledger space instead of costly on-chain account space.
Giving an example of a token airdrop to 1,000,000 users, Helius Labs founder Mert Mumtaz on X explained that it would only cost $50, ~5,200 times cheaper compared to $260,000 that would be paid for the state alone in regular token accounts.
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The post Light Protocol and Helius Labs Introduce Primitive to Make PDA Account Storage in Solana “5000X” Cheaper appeared first on NFTgators .
The technology allows developers to store 100 compressed token accounts for around 4 hundred thousandths of one sol.
Developers and users can choose to compress their on-chain state, where only state roots are stored in on-chain accounts.
This allows them to reduce state costs by orders of magnitude while preserving the security, performance, and composability of the Solana L1.
Light Protocol and Helius Labs have teamed up to introduce “ZK Compression” on Solana. This new technology primitive allows developers to build applications at scale, according to documentation.
According to the document, “Solana programs can mix and match between compressed and regular on-chain state, allowing atomic interaction with multiple programs, accounts, and compressed accounts.”
With a compressed state, only state roots are stored in on-chain accounts, which allows them to reduce state costs by orders of magnitude while preserving the security, performance, and composability of the Solana L1.
The documentation also indicates that the technology allows developers to cut PDA account storage costs by up to 5000x, allowing them to store 100 compressed token accounts for ~0.00004 SOL versus an equivalent of 0.2 SOL on a regular on-chain state.
While compressed accounts are similar to regular Solana accounts, there are some differences.
Compressed accounts are stored in what the primitive refers to as “sparse state trees”, whereby, “only the tree’s state root (small fingerprint of all compressed accounts) is stored in the on-chain account space.”
Each compressed account is identified by its hash and each write to a compressed account changes its hash, the document explains. An address can also be optionally set as a permanent unique ID of the compressed account.
This is how the protocol can store states as call data in the less expensive Solana ledger space instead of costly on-chain account space.
Giving an example of a token airdrop to 1,000,000 users, Helius Labs founder Mert Mumtaz on X explained that it would only cost $50, ~5,200 times cheaper compared to $260,000 that would be paid for the state alone in regular token accounts.
Stay on top of things:
Subscribe to our newsletter using this link – we won’t spam!
Follow us on X and Telegram.
The post Light Protocol and Helius Labs Introduce Primitive to Make PDA Account Storage in Solana “5000X” Cheaper appeared first on NFTgators .
Particle Network Secures $15M Series a for Its Chain Abstraction Layer
Quick take:
The token round was structured as a simple agreement for future tokens (SAFT).
The company is building a chain abstraction layer that simplifies developer and user experiences.
Its Universal Accounts product enables users to use funds from any chain and transact across any network.
Particle Network has completed a $15 million token round co-led by The Spartan Group and Gumi Cryptos Capital. The Series A round also attracted participation from SevenX Ventures, Morningstar Ventures, Flow Traders and HashKey Capital. The company also boasts backing from the likes of Animoca Ventures, LongHash Ventures, and Alibaba Group.
The round was structured as a simple agreement for future tokens, Particle Network founder and CEO Pengyu Wang told The Block. The fundraising brings the total raised to $25 million following $10 million secured across multiple rounds.
The company plans to use the fresh capital to expand its team of 30 to about 40, with a key focus on engineering and operations teams.
Particle is developing a blockchain abstraction layer that simplifies the experiences for both developers and users. One of the modular blockchain company’s products, Universal Accounts allows users to use funds from any blockchain across networks.
Universal Accounts also enable users to leverage the power of “Universal Liquidity” and “Universal Gas” thus allowing them to spend their tokens across any chain and pay for the gas and transaction fees using any of their token holdings.
“With universal accounts, users no longer need to bridge or manually manage accounts across chains, and developers can onboard users from anywhere in the ecosystem,” Wang said.
While still only in testnet phase I, Particle Network claims to already have 1.3 million universal account registrations and over 114 million transactions.
The platform is created using the Cosmos SDK and leverages Berachain’s BeaconKit framework for EVM compatibility.
This announcement comes ahead of Particle’s planned testnet phase 2 launch, this week, while its mainnet launch is scheduled for the third quarter of 2024. The mainnet launch will be accompanied by Particle’s PARTI token launch, Wang said.
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The post Particle Network Secures $15M Series A For Its Chain Abstraction Layer appeared first on NFTgators .
The token round was structured as a simple agreement for future tokens (SAFT).
The company is building a chain abstraction layer that simplifies developer and user experiences.
Its Universal Accounts product enables users to use funds from any chain and transact across any network.
Particle Network has completed a $15 million token round co-led by The Spartan Group and Gumi Cryptos Capital. The Series A round also attracted participation from SevenX Ventures, Morningstar Ventures, Flow Traders and HashKey Capital. The company also boasts backing from the likes of Animoca Ventures, LongHash Ventures, and Alibaba Group.
The round was structured as a simple agreement for future tokens, Particle Network founder and CEO Pengyu Wang told The Block. The fundraising brings the total raised to $25 million following $10 million secured across multiple rounds.
The company plans to use the fresh capital to expand its team of 30 to about 40, with a key focus on engineering and operations teams.
Particle is developing a blockchain abstraction layer that simplifies the experiences for both developers and users. One of the modular blockchain company’s products, Universal Accounts allows users to use funds from any blockchain across networks.
Universal Accounts also enable users to leverage the power of “Universal Liquidity” and “Universal Gas” thus allowing them to spend their tokens across any chain and pay for the gas and transaction fees using any of their token holdings.
“With universal accounts, users no longer need to bridge or manually manage accounts across chains, and developers can onboard users from anywhere in the ecosystem,” Wang said.
While still only in testnet phase I, Particle Network claims to already have 1.3 million universal account registrations and over 114 million transactions.
The platform is created using the Cosmos SDK and leverages Berachain’s BeaconKit framework for EVM compatibility.
This announcement comes ahead of Particle’s planned testnet phase 2 launch, this week, while its mainnet launch is scheduled for the third quarter of 2024. The mainnet launch will be accompanied by Particle’s PARTI token launch, Wang said.
Stay on top of things:
Subscribe to our newsletter using this link – we won’t spam!
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The post Particle Network Secures $15M Series A For Its Chain Abstraction Layer appeared first on NFTgators .
Binance Launches the HODLer Airdrops Program for Holders of BNB Tokens
Quick take:
The tokens will be mainly from small to medium projects with strong fundamentals, a large circulating supply, and strong and organic communities, the exchange said.
To be eligible for the HODLer Airdrops program, users must hold BNB and be subscribed to its Simple Earn program.
The tokens will be offered to users from eligible jurisdictions, which Binance did not list in the announcement.
Binance has launched the HODLer Airdrops Program, designed to reward BNB token holders with early access to tokens with a large circulating supply before they launch on its platform.
To be eligible for the program, users must first subscribe to the exchange company’s Simple Earn program and be from authorised jurisdictions. The company did not provide a list of countries or regions of residence where the program will be offered.
Binance said it will post an announcement before a HODLer Airdrops of new token begins.
Explaining how the program and token airdrop allocations will work, the leading crypto exchange company wrote in a statement: “Snapshots of user balances and total pool balances will be taken multiple times at any point of time each hour to get users’ hourly average balances in Simple Earn products (Flexible and/or Locked). Binance will use historical snapshots of user balances at random periods after this announcement to calculate user rewards.”
The HODLer Airdrops will be deposited in the BNB holders’ Spot Wallets within 24 hours after the airdrop is announced, the company said, adding that a hard BNB holding calculation limit per user will be announced in each HODLer Airdrop announcement.
“For example, if a user holds 203 BNB, and the holding calculation limit is 200 BNB. Binance will only use 200 BNB to calculate their total rewards,” Binance explains.
By the time the token lists on the Binance Spot, airdropped tokens will have already been deposited in the users’ Spot Wallets.
The company also said BNB Simple Earn assets collateralizing against Binance Loans (Flexible Rate) are not entitled to HODLer Airdrops rewards.
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The post Binance Launches the HODLer Airdrops Program for Holders of BNB Tokens appeared first on NFTgators .
The tokens will be mainly from small to medium projects with strong fundamentals, a large circulating supply, and strong and organic communities, the exchange said.
To be eligible for the HODLer Airdrops program, users must hold BNB and be subscribed to its Simple Earn program.
The tokens will be offered to users from eligible jurisdictions, which Binance did not list in the announcement.
Binance has launched the HODLer Airdrops Program, designed to reward BNB token holders with early access to tokens with a large circulating supply before they launch on its platform.
To be eligible for the program, users must first subscribe to the exchange company’s Simple Earn program and be from authorised jurisdictions. The company did not provide a list of countries or regions of residence where the program will be offered.
Binance said it will post an announcement before a HODLer Airdrops of new token begins.
Explaining how the program and token airdrop allocations will work, the leading crypto exchange company wrote in a statement: “Snapshots of user balances and total pool balances will be taken multiple times at any point of time each hour to get users’ hourly average balances in Simple Earn products (Flexible and/or Locked). Binance will use historical snapshots of user balances at random periods after this announcement to calculate user rewards.”
The HODLer Airdrops will be deposited in the BNB holders’ Spot Wallets within 24 hours after the airdrop is announced, the company said, adding that a hard BNB holding calculation limit per user will be announced in each HODLer Airdrop announcement.
“For example, if a user holds 203 BNB, and the holding calculation limit is 200 BNB. Binance will only use 200 BNB to calculate their total rewards,” Binance explains.
By the time the token lists on the Binance Spot, airdropped tokens will have already been deposited in the users’ Spot Wallets.
The company also said BNB Simple Earn assets collateralizing against Binance Loans (Flexible Rate) are not entitled to HODLer Airdrops rewards.
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Subscribe to our newsletter using this link – we won’t spam!
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The post Binance Launches the HODLer Airdrops Program for Holders of BNB Tokens appeared first on NFTgators .
Crypto Security Firm CertiK and Kraken in Bug Bounty Dispute Amid $3M Drain
Quick take:
Kraken’s chief security officer Nick Percoco said Wednesday that $3 million was taken from its wallets.
The bug allowed anyone to initiate a deposit to the platform and receive the funds without completing it.
Percoco said three people connected with an undisclosed company had refused to return the funds until Kraken made public the potential size of the exploit.
CertiK and crypto exchange company Kraken have been engaged in a bug bounty dispute for the past several days according to information material disclosed by the blockchain security firm on X.
CertiK said on June 5, it found a vulnerability in Kraken’s deposit system that allowed withdrawals of fabricated crypto that could be converted into valid crypto.
The crypto security firm deposited 200 Matic on June 5 before withdrawing 90,000 Matic two days later. It then made a significantly larger deposit before withdrawing an even larger amount on June 9, the firm claimed via a post on X.
Source: Certik on X
Commenting on its test result on X, CertiK wrote: “The Kraken exchange failed all these tests, indicating that Kraken’s defence in-depth-system is compromised on multiple fronts. Millions of dollars can be deposited to ANY Kraken account.”
“A huge amount of fabricated crypto (worth more than 1M+ USD) can be withdrawn from the account and converted into valid cryptos. Worse yet, no alerts were triggered during the multi-day testing period. Kraken only responded and locked the test accounts days after we officially reported the incident.”
In its response, Kraken’s chief security officer Nick Percoco said his company was able to “triage the bug” within an hour and 47 minutes, before completely fixing the issue within a few hours.
Describing the circumstances of the bug, he said: “Our team found a flaw deriving from a recent UX change that would promptly credit client accounts before their assets cleared – allowing clients to effectively trade crypto markets in real-time. This UX change was not thoroughly tested against this specific attack vector.”
Percoco said further investigations showed that three accounts had already taken full advantage of the bug to credit their accounts with $4 in crypto, which would have been enough to file a bug bounty report with the Kraken team, earning themselves a sizeable reward from the crypto exchange’s bug bounty program.
“Instead, the ‘security researcher’ disclosed this bug to two other individuals who they work with who fraudulently generated much larger sums. They ultimately withdrew nearly $3 million from their Kraken accounts. This was from Kraken’s treasuries, not other client assets.”
After discussions to file the report so the funds could be returned, the researchers refused, said Percoco, going on to brand the event as an “extortion”.
CertiK said that after initial successful conversions on identifying and fixing the vulnerability, Kraken’s security operation team threatened individual CertiK employees to repay mismatched crypto amounts without giving them reasonable time or repayment addresses.
Stay on top of things:
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The post Crypto Security Firm CertiK and Kraken in Bug Bounty Dispute Amid $3M Drain appeared first on NFTgators .
Kraken’s chief security officer Nick Percoco said Wednesday that $3 million was taken from its wallets.
The bug allowed anyone to initiate a deposit to the platform and receive the funds without completing it.
Percoco said three people connected with an undisclosed company had refused to return the funds until Kraken made public the potential size of the exploit.
CertiK and crypto exchange company Kraken have been engaged in a bug bounty dispute for the past several days according to information material disclosed by the blockchain security firm on X.
CertiK said on June 5, it found a vulnerability in Kraken’s deposit system that allowed withdrawals of fabricated crypto that could be converted into valid crypto.
The crypto security firm deposited 200 Matic on June 5 before withdrawing 90,000 Matic two days later. It then made a significantly larger deposit before withdrawing an even larger amount on June 9, the firm claimed via a post on X.
Source: Certik on X
Commenting on its test result on X, CertiK wrote: “The Kraken exchange failed all these tests, indicating that Kraken’s defence in-depth-system is compromised on multiple fronts. Millions of dollars can be deposited to ANY Kraken account.”
“A huge amount of fabricated crypto (worth more than 1M+ USD) can be withdrawn from the account and converted into valid cryptos. Worse yet, no alerts were triggered during the multi-day testing period. Kraken only responded and locked the test accounts days after we officially reported the incident.”
In its response, Kraken’s chief security officer Nick Percoco said his company was able to “triage the bug” within an hour and 47 minutes, before completely fixing the issue within a few hours.
Describing the circumstances of the bug, he said: “Our team found a flaw deriving from a recent UX change that would promptly credit client accounts before their assets cleared – allowing clients to effectively trade crypto markets in real-time. This UX change was not thoroughly tested against this specific attack vector.”
Percoco said further investigations showed that three accounts had already taken full advantage of the bug to credit their accounts with $4 in crypto, which would have been enough to file a bug bounty report with the Kraken team, earning themselves a sizeable reward from the crypto exchange’s bug bounty program.
“Instead, the ‘security researcher’ disclosed this bug to two other individuals who they work with who fraudulently generated much larger sums. They ultimately withdrew nearly $3 million from their Kraken accounts. This was from Kraken’s treasuries, not other client assets.”
After discussions to file the report so the funds could be returned, the researchers refused, said Percoco, going on to brand the event as an “extortion”.
CertiK said that after initial successful conversions on identifying and fixing the vulnerability, Kraken’s security operation team threatened individual CertiK employees to repay mismatched crypto amounts without giving them reasonable time or repayment addresses.
Stay on top of things:
Subscribe to our newsletter using this link – we won’t spam!
Follow us on X and Telegram.
The post Crypto Security Firm CertiK and Kraken in Bug Bounty Dispute Amid $3M Drain appeared first on NFTgators .
Bondex Secures $10M to Build LinkedIn for Web3
Quick take:
Bondex is building a gamified version of LinkedIn powered by the BDXN token.
Users of the platform receive up to $10,000 in token-gated referral bounties for successfully referring new hires to recruiters.
Bondex will use the majority of the new capital to improve the platform as it positions itself to take on traditional digital hiring platforms.
Bondex, a blockchain-based talent marketplace has raised $10.5 million to build the LinkedIn of Web3. The fundraising included $4 million from Animoca Brands, Morningstar, Dext Force Ventures and iAngels and a $6.5 million community sale on Coinlist.
Bondex is building a gamified talent recruitment platform powered by the $BDXN token. Bondex CEO and founder Ignacio Palomera said it will use the majority of the new capital to improve the platform as it positions itself to take on traditional digital hiring platforms.
According to the announcement, the Bondex platform provides referral bounties to users, allowing them to act as extended recruitment arms to hiring companies. Users stand to receive up to $10,000 in token-gated referral bounties for successfully referring new hires to recruiters.
The company said it has already tapped leading Web3 companies including Binance, Blockchain.com, Chainlink, CoinMarketCap and Ankr as recruiting partners.
Commenting on his company’s participation in the fundraising, Animoca Brands co-founder and executive chairman, Yat Siu said in a statement: “Bondex is changing the game for future recruitment through Web3, enabling blockchain technology and the power of referrals to innovate against legacy platforms out there.”
Founded in August 2021, Bondex has quickly grown to 4.55 million downloads and more than 500,000 daily active users, according to the company’s announcement on X.
Danilo S. Carlucci, co-founder and CEO of Morningstar Ventures added: “Bondex changes the way we see recruitment and networking, allowing users to be an employer, recruiter, talent, sales agent, or all of those at once and get rewarded for their efforts.”
Stay on top of things:
Subscribe to our newsletter using this link – we won’t spam!
Follow us on X and Telegram.
The post Bondex Secures $10M to Build LinkedIn for Web3 appeared first on NFTgators .
Bondex is building a gamified version of LinkedIn powered by the BDXN token.
Users of the platform receive up to $10,000 in token-gated referral bounties for successfully referring new hires to recruiters.
Bondex will use the majority of the new capital to improve the platform as it positions itself to take on traditional digital hiring platforms.
Bondex, a blockchain-based talent marketplace has raised $10.5 million to build the LinkedIn of Web3. The fundraising included $4 million from Animoca Brands, Morningstar, Dext Force Ventures and iAngels and a $6.5 million community sale on Coinlist.
Bondex is building a gamified talent recruitment platform powered by the $BDXN token. Bondex CEO and founder Ignacio Palomera said it will use the majority of the new capital to improve the platform as it positions itself to take on traditional digital hiring platforms.
According to the announcement, the Bondex platform provides referral bounties to users, allowing them to act as extended recruitment arms to hiring companies. Users stand to receive up to $10,000 in token-gated referral bounties for successfully referring new hires to recruiters.
The company said it has already tapped leading Web3 companies including Binance, Blockchain.com, Chainlink, CoinMarketCap and Ankr as recruiting partners.
Commenting on his company’s participation in the fundraising, Animoca Brands co-founder and executive chairman, Yat Siu said in a statement: “Bondex is changing the game for future recruitment through Web3, enabling blockchain technology and the power of referrals to innovate against legacy platforms out there.”
Founded in August 2021, Bondex has quickly grown to 4.55 million downloads and more than 500,000 daily active users, according to the company’s announcement on X.
Danilo S. Carlucci, co-founder and CEO of Morningstar Ventures added: “Bondex changes the way we see recruitment and networking, allowing users to be an employer, recruiter, talent, sales agent, or all of those at once and get rewarded for their efforts.”
Stay on top of things:
Subscribe to our newsletter using this link – we won’t spam!
Follow us on X and Telegram.
The post Bondex Secures $10M to Build LinkedIn for Web3 appeared first on NFTgators .
Pantera Capital to Invest $200M in the Intersection of AI and Blockchain Technology
Quick take:
Pantera Capital portfolio manager Cosmo Jiang believes every crypto company will soon be an artificial intelligence venture.
Jiang told DL News he is actively looking for projects leveraging AI to boost blockchain businesses.
The firm counts crypto exchange companies Coinbase and Bitstamp alongside stablecoin issuer Circle among its portfolio companies.
Pantera Capital has revealed it is raising $1 billion for a new fund that will see up to 20% of the fund ($200 million) dedicated to AI projects.
According to Pantera Capital portfolio manager Cosmo Jiang, every crypto company will soon be an artificial intelligence venture. Jiang’s Web3 venture capital firm has been one of the busiest in the crypto space investing in crypto exchange companies Coinbase and Bitstamp alongside stablecoin issuer Circle.
The company has also been keen on investing in the intersection of AI and blockchain technology, most recently co-leading a $25 million Series A round for Nexus Laboratories, the Web3 company using blockchain technology to help AI agents verify data.
Describing how he views the future of AI in crypto, Jiang told DL News: “Ten,15, 20 years from now, everyone will be using AI.” According to Jiang, telling people you’ve invested in an AI company “will be as stupid as saying ‘I’m investing in a company that has a website.’”
Jiang’s strategy for the intersection of AI and blockchain technology involves identifying projects using AI to improve blockchain businesses or those that use blockchain technology to improve AI businesses.
Jiang even went as far as using Sam Altman’s OpenAI and Worldcoin as the best examples of AI and crypto companies that could be synergistic if they coexisted as one.
OpenAI has disrupted the AI industry with generative AI, while Worldcoin wants to become the world’s leading privacy-preserving human identity and financial network.
Stay on top of things:
Subscribe to our newsletter using this link – we won’t spam!
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The post Pantera Capital to Invest $200M in the Intersection of AI and Blockchain Technology appeared first on NFTgators .
Pantera Capital portfolio manager Cosmo Jiang believes every crypto company will soon be an artificial intelligence venture.
Jiang told DL News he is actively looking for projects leveraging AI to boost blockchain businesses.
The firm counts crypto exchange companies Coinbase and Bitstamp alongside stablecoin issuer Circle among its portfolio companies.
Pantera Capital has revealed it is raising $1 billion for a new fund that will see up to 20% of the fund ($200 million) dedicated to AI projects.
According to Pantera Capital portfolio manager Cosmo Jiang, every crypto company will soon be an artificial intelligence venture. Jiang’s Web3 venture capital firm has been one of the busiest in the crypto space investing in crypto exchange companies Coinbase and Bitstamp alongside stablecoin issuer Circle.
The company has also been keen on investing in the intersection of AI and blockchain technology, most recently co-leading a $25 million Series A round for Nexus Laboratories, the Web3 company using blockchain technology to help AI agents verify data.
Describing how he views the future of AI in crypto, Jiang told DL News: “Ten,15, 20 years from now, everyone will be using AI.” According to Jiang, telling people you’ve invested in an AI company “will be as stupid as saying ‘I’m investing in a company that has a website.’”
Jiang’s strategy for the intersection of AI and blockchain technology involves identifying projects using AI to improve blockchain businesses or those that use blockchain technology to improve AI businesses.
Jiang even went as far as using Sam Altman’s OpenAI and Worldcoin as the best examples of AI and crypto companies that could be synergistic if they coexisted as one.
OpenAI has disrupted the AI industry with generative AI, while Worldcoin wants to become the world’s leading privacy-preserving human identity and financial network.
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The post Pantera Capital to Invest $200M in the Intersection of AI and Blockchain Technology appeared first on NFTgators .
Solana’s Weekly Transaction Count At Highest in 2 Years
The transaction count on Solana has reached its highest weekly average in about two years, according to data from TheBlock. The 7-day average of so-called non-vote transactions on Solana stood at 38.37 million as of June 18.
Non-vote transactions refer to SOL transfers between Solana accounts, smart contract executions, and decentralized exchange (DEX) trades. Elsewhere, vote transactions are associated with votes by validators on the state of the network.
Solscan data shows that the daily number of non-vote transactions has maintained near 40 million since the beginning of June.
On June 12, Solana recorded its third-highest daily count of active accounts, with over 1.23 million active wallets.
Interestingly, although the total number of active wallets did not match the performance seen in late May, Artemis data indicates that the number of returning addresses reached the record high of 1.2 million again on June 17, after initially setting this record in March of this year.
Elsewhere, data shared via Dune shows that the weekly number of traders on Solana-based decentralized exchanges (DEXs) hit a record high earlier in June, hitting the 3 million mark.
DefiLlama data shows that the total value locked (TVL) in Solana DeFi projects maintains above $4 billion as of this writing. At the end of May, TVL on Solana almost touched the $5 billion mark when it rose to the highest level since February 2022.
On May 22, TVL across Solana DEXs alone hit a record high at $1.93 billion before correcting to the current level of $1.68 billion.
The largest DEX on Solana is Raydium, which accounts for about two-thirds of TVL and trading volume among Solana DEXs.
All in all, activity on Solana seems to be reviving in the May-June period following several weeks of consolidation.
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Non-vote transactions refer to SOL transfers between Solana accounts, smart contract executions, and decentralized exchange (DEX) trades. Elsewhere, vote transactions are associated with votes by validators on the state of the network.
Solscan data shows that the daily number of non-vote transactions has maintained near 40 million since the beginning of June.
On June 12, Solana recorded its third-highest daily count of active accounts, with over 1.23 million active wallets.
Interestingly, although the total number of active wallets did not match the performance seen in late May, Artemis data indicates that the number of returning addresses reached the record high of 1.2 million again on June 17, after initially setting this record in March of this year.
Elsewhere, data shared via Dune shows that the weekly number of traders on Solana-based decentralized exchanges (DEXs) hit a record high earlier in June, hitting the 3 million mark.
DefiLlama data shows that the total value locked (TVL) in Solana DeFi projects maintains above $4 billion as of this writing. At the end of May, TVL on Solana almost touched the $5 billion mark when it rose to the highest level since February 2022.
On May 22, TVL across Solana DEXs alone hit a record high at $1.93 billion before correcting to the current level of $1.68 billion.
The largest DEX on Solana is Raydium, which accounts for about two-thirds of TVL and trading volume among Solana DEXs.
All in all, activity on Solana seems to be reviving in the May-June period following several weeks of consolidation.
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The post Solana’s Weekly Transaction Count at Highest in 2 years appeared first on NFTgators .
Bitkraft Ventures Leads $12M Series a for Solana-Based L2 Sonic
Quick take:
The fundraising also attracted participation from Galaxy Interactive and Big Brain Holdings.
Bitkraft Ventures’ leading role in the round also sees it join Sonic’s board.
Sonic has now raised $16 million in total following a $4 million seed round announced in 2022.
Solana-based layer 2 Sonic has completed a $12 million Series A round led by Bitkraft Ventures. The fundraising also attracted participation from Galaxy Interactive and Big Brain Holdings, among others.
The Series A round was structured as equity with token warrants according to Sonic founder and CEO Chris Zhu, and values the blockchain-gaming-focused chain at $100 million. The round brings the total raised to $16 million following a $4 million announced in 2022.
According to the announcement, Bitkraft will join Sonic’s board as part of the deal, The Block reported.
Mirror World Labs (MWL) is developing Sonic. They are the legal entity behind the HyperGrid Framework technology, which leverages Solana rollups to enable horizontal scaling.
The technology allows developers to deploy decentralised applications from Ethereum Virtual Machine to Solana seamlessly, the company said in a statement on Tuesday.
The seamless integration enables Sonic to provide “an exceptionally fast on-chain game experience, powered by Solana Virtual Machine (SVM), at minimal cost,” Zhu said.
Justin Swart, principal at Bitkraft Ventures is optimistic about the SVM, adding that he expects it to become “the go-to destination for any gaming studio that wants to build games within the Solana ecosystem.”
This announcement comes ahead of Sonic’s planned launch of its incentivized testnet campaign called “Odyssey” later this week. The testnet will support among other functions, playing games and sending transactions, with their gaming activity earning them “rings” as rewards, Zhu said.
According to Zhu, rings represent points in the game. Although they are not directly convertible to Sonic tokens, contributors will still be rewarded in some way, he said.
The company’s native token is scheduled for launch alongside the mainnet in the third quarter of 2024.
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The fundraising also attracted participation from Galaxy Interactive and Big Brain Holdings.
Bitkraft Ventures’ leading role in the round also sees it join Sonic’s board.
Sonic has now raised $16 million in total following a $4 million seed round announced in 2022.
Solana-based layer 2 Sonic has completed a $12 million Series A round led by Bitkraft Ventures. The fundraising also attracted participation from Galaxy Interactive and Big Brain Holdings, among others.
The Series A round was structured as equity with token warrants according to Sonic founder and CEO Chris Zhu, and values the blockchain-gaming-focused chain at $100 million. The round brings the total raised to $16 million following a $4 million announced in 2022.
According to the announcement, Bitkraft will join Sonic’s board as part of the deal, The Block reported.
Mirror World Labs (MWL) is developing Sonic. They are the legal entity behind the HyperGrid Framework technology, which leverages Solana rollups to enable horizontal scaling.
The technology allows developers to deploy decentralised applications from Ethereum Virtual Machine to Solana seamlessly, the company said in a statement on Tuesday.
The seamless integration enables Sonic to provide “an exceptionally fast on-chain game experience, powered by Solana Virtual Machine (SVM), at minimal cost,” Zhu said.
Justin Swart, principal at Bitkraft Ventures is optimistic about the SVM, adding that he expects it to become “the go-to destination for any gaming studio that wants to build games within the Solana ecosystem.”
This announcement comes ahead of Sonic’s planned launch of its incentivized testnet campaign called “Odyssey” later this week. The testnet will support among other functions, playing games and sending transactions, with their gaming activity earning them “rings” as rewards, Zhu said.
According to Zhu, rings represent points in the game. Although they are not directly convertible to Sonic tokens, contributors will still be rewarded in some way, he said.
The company’s native token is scheduled for launch alongside the mainnet in the third quarter of 2024.
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The post Bitkraft Ventures Leads $12M Series A for Solana-Based L2 Sonic appeared first on NFTgators .
Renzo Ramps Up the Development of Its Liquid Restaking Protocol With $17M Funding
Quick take:
Renzo offers an Actively Validated Service powered by EigenLayer that leverages staked ETH to secure other protocols on the Ethereum network.
The restaked ETH generates yield for users who then receive Renzo’s liquid restaking token ezETH.
The company will use the funds to expand restaking services on EigenLayer including adding support for ERC-20 tokens.
Renzo has announced a $17 million fundraising secured across two rounds. The EigenLayer-based liquid restaking protocol said Galaxy Ventures led the first round, while Brevan Howard Digital Nova Fund led the second, CoinDesk reported.
Earlier this year, Renzo also raised $3.2 million in a seed round led by Maven11 Capital, according to a post on X.
The company also enjoys backing from other leading Web3 VCs including SevenX Ventures, IOSG Ventures, OKX Ventures, and Robot Ventures among others.
Renzo plans to use the latest funding to expand its liquid restaking services including adding support for ERC-20 tokens.
The company currently offers Actively Validated Services (AVS) powered by EigenLayer, which allows it to leverage staked ETH to secure other protocols on the Ethereum network.
Stakers receive Renzo’s liquid restaking token ezETH, earning yield from their restaked ETH.
According to Lucas Kozinski, founding contributor of Renzo, the company is simply pouncing on an emerging trend in the Web3 industry with crypto restaking protocols also now beginning to build on the Bitcoin ecosystem.
“EigenLayer pioneered native ETH restaking, which is now expanding into other assets including $EIGEN to secure EigenDA,” Kozinkski told CoinDesk. “The use of ERC-20s for restaking is opening the door for other liquid restaking tokens to join alongside ezETH.”
According to the on-chain DeFi protocol tracking platform DeFiLlama, EigenLayer, which powers most crypto restaking protocols on Ethereum has since surpassed $18 billion TVL following its mainnet launch earlier this year.
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The post Renzo Ramps Up the Development of Its Liquid Restaking Protocol with $17M Funding appeared first on NFTgators .
Renzo offers an Actively Validated Service powered by EigenLayer that leverages staked ETH to secure other protocols on the Ethereum network.
The restaked ETH generates yield for users who then receive Renzo’s liquid restaking token ezETH.
The company will use the funds to expand restaking services on EigenLayer including adding support for ERC-20 tokens.
Renzo has announced a $17 million fundraising secured across two rounds. The EigenLayer-based liquid restaking protocol said Galaxy Ventures led the first round, while Brevan Howard Digital Nova Fund led the second, CoinDesk reported.
Earlier this year, Renzo also raised $3.2 million in a seed round led by Maven11 Capital, according to a post on X.
The company also enjoys backing from other leading Web3 VCs including SevenX Ventures, IOSG Ventures, OKX Ventures, and Robot Ventures among others.
Renzo plans to use the latest funding to expand its liquid restaking services including adding support for ERC-20 tokens.
The company currently offers Actively Validated Services (AVS) powered by EigenLayer, which allows it to leverage staked ETH to secure other protocols on the Ethereum network.
Stakers receive Renzo’s liquid restaking token ezETH, earning yield from their restaked ETH.
According to Lucas Kozinski, founding contributor of Renzo, the company is simply pouncing on an emerging trend in the Web3 industry with crypto restaking protocols also now beginning to build on the Bitcoin ecosystem.
“EigenLayer pioneered native ETH restaking, which is now expanding into other assets including $EIGEN to secure EigenDA,” Kozinkski told CoinDesk. “The use of ERC-20s for restaking is opening the door for other liquid restaking tokens to join alongside ezETH.”
According to the on-chain DeFi protocol tracking platform DeFiLlama, EigenLayer, which powers most crypto restaking protocols on Ethereum has since surpassed $18 billion TVL following its mainnet launch earlier this year.
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The post Renzo Ramps Up the Development of Its Liquid Restaking Protocol with $17M Funding appeared first on NFTgators .
Wasabi Secures $3M to Enable Leveraged Trading for Memecoins and NFTs
Quick take:
Wasabi is a DeFi protocol on Ethereum and Blast that allows users to trade long-tail assets like memecoins and NFT with leverage.
The platform boasts over 18,000 traders who have generated more than $500 million in volume this year.
The company plans to use the fresh capital to expand its team of six to ten.
Wasabi, a DeFi protocol on Ethereum and Blast has announced a $3 million funding round led by Electric Capital.
The round also attracted participation from Alliance, Memeland, and Spencer Ventures, with Pudgy Penguins CEO Luca Netz, Magic Eden co-founder Zhouxun Yin, angel investor Santiago Santos, Cygaar, Zagabond, DCF God and Bob Loukas joining as angel investors.
The company claims to have more than 18,000 traders who have already generated over $500 million in transaction volume this year.
Wasabi co-founder Eren Derman told The Block that the protocol will use the funds to expand its team of six to 10, including hiring a smart contract engineer, back-end developer, quantitative engineer and head of operations.
Commenting on the reasoning behind the product, Derman said it is the first protocol to enable leveraged trading backed by actual assets. Wasabi’s on-chain perpetual futures mean that all trades are asset-backed, and this removes counterparty risk, he said.
“[It] is significantly different from conventional perp decentralized exchanges like Aevo and Hyperliquid, which rely on market makers to keep their synthetic prices feed pegged to the actual price of assets on-chain.”
Users can trade long and short, or stake memecoins and NFTs, with leverage of 2-3X available for more exotic assets, whereas the more established assets like ETH and USDB have up to 10x leverage,” said Derman.
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The post Wasabi Secures $3M to Enable Leveraged Trading for Memecoins and NFTs appeared first on NFTgators .
Wasabi is a DeFi protocol on Ethereum and Blast that allows users to trade long-tail assets like memecoins and NFT with leverage.
The platform boasts over 18,000 traders who have generated more than $500 million in volume this year.
The company plans to use the fresh capital to expand its team of six to ten.
Wasabi, a DeFi protocol on Ethereum and Blast has announced a $3 million funding round led by Electric Capital.
The round also attracted participation from Alliance, Memeland, and Spencer Ventures, with Pudgy Penguins CEO Luca Netz, Magic Eden co-founder Zhouxun Yin, angel investor Santiago Santos, Cygaar, Zagabond, DCF God and Bob Loukas joining as angel investors.
The company claims to have more than 18,000 traders who have already generated over $500 million in transaction volume this year.
Wasabi co-founder Eren Derman told The Block that the protocol will use the funds to expand its team of six to 10, including hiring a smart contract engineer, back-end developer, quantitative engineer and head of operations.
Commenting on the reasoning behind the product, Derman said it is the first protocol to enable leveraged trading backed by actual assets. Wasabi’s on-chain perpetual futures mean that all trades are asset-backed, and this removes counterparty risk, he said.
“[It] is significantly different from conventional perp decentralized exchanges like Aevo and Hyperliquid, which rely on market makers to keep their synthetic prices feed pegged to the actual price of assets on-chain.”
Users can trade long and short, or stake memecoins and NFTs, with leverage of 2-3X available for more exotic assets, whereas the more established assets like ETH and USDB have up to 10x leverage,” said Derman.
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The post Wasabi Secures $3M to Enable Leveraged Trading for Memecoins and NFTs appeared first on NFTgators .
Tether Launches Digital Asset Backed By Tether Gold
Quick take:
Alloy by Tether ushers in a new category of tokens dubbed tethered assets.
Tether is also launching a platform that allows the creation of different tethered assets backed by mechanisms potentially including yield-bearing products.
Alloy by Tether is developed by Moon Gold NA, S.A. de C.V. and Moon Gold El Salvador, S.A. de C.V., members of the Tether Group.
Tether has announced the launch of Alloy by Tether (aUSDT), a new digital asset backed by Tether Gold (XAUT). The new asset creates a new category of digital tokens dubbed tethered assets, which track the underlying assets through stabilisation strategies like over-collateralization with liquid assets and secondary market liquidity pools.
Tether says its goal for the token is to “redefine the stability of the digital economy” by combining the “strengths of a stable unit of account with the security and reliability of gold.”
Alloy by Tether is developed by Moon Gold NA, S.A. de C.V. and Moon Gold El Salvador, S.A. de C.V., members of the Tether Group. Both will handle the issuance and management of Alloy Tether to meet the necessary customer and regulatory requirements.
According to Tether, aUSDT tracks the value of the US dollar and is over-collateralised by Tether Gold (XAUT), thus it is backed by real physical gold stored in Switzerland.
Users can mint aUSDT by depositing Tether Gold (XAUT) as collateral through an Ethereum-compatible smart contract. They will then be able to use the aUSDT for digital transactions, payments, and remittances without selling their gold-backed XAUT.
Commenting on the announcement, Paolo Ardoino, CEO of Tether said: “While the stabilisation mechanism is different compared to traditional options like USDT, this innovative solution marks an exciting milestone, and we eagerly anticipate how it will interact with the rest of the market.”
The company also plans to make the technology available in its upcoming digital asset tokenisation platform, enabling the deployment of more digital assets backed by various products and tethered to a reference currency, Ardoino said.
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The post Tether Launches Digital Asset Backed by Tether Gold appeared first on NFTgators .
Alloy by Tether ushers in a new category of tokens dubbed tethered assets.
Tether is also launching a platform that allows the creation of different tethered assets backed by mechanisms potentially including yield-bearing products.
Alloy by Tether is developed by Moon Gold NA, S.A. de C.V. and Moon Gold El Salvador, S.A. de C.V., members of the Tether Group.
Tether has announced the launch of Alloy by Tether (aUSDT), a new digital asset backed by Tether Gold (XAUT). The new asset creates a new category of digital tokens dubbed tethered assets, which track the underlying assets through stabilisation strategies like over-collateralization with liquid assets and secondary market liquidity pools.
Tether says its goal for the token is to “redefine the stability of the digital economy” by combining the “strengths of a stable unit of account with the security and reliability of gold.”
Alloy by Tether is developed by Moon Gold NA, S.A. de C.V. and Moon Gold El Salvador, S.A. de C.V., members of the Tether Group. Both will handle the issuance and management of Alloy Tether to meet the necessary customer and regulatory requirements.
According to Tether, aUSDT tracks the value of the US dollar and is over-collateralised by Tether Gold (XAUT), thus it is backed by real physical gold stored in Switzerland.
Users can mint aUSDT by depositing Tether Gold (XAUT) as collateral through an Ethereum-compatible smart contract. They will then be able to use the aUSDT for digital transactions, payments, and remittances without selling their gold-backed XAUT.
Commenting on the announcement, Paolo Ardoino, CEO of Tether said: “While the stabilisation mechanism is different compared to traditional options like USDT, this innovative solution marks an exciting milestone, and we eagerly anticipate how it will interact with the rest of the market.”
The company also plans to make the technology available in its upcoming digital asset tokenisation platform, enabling the deployment of more digital assets backed by various products and tethered to a reference currency, Ardoino said.
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The post Tether Launches Digital Asset Backed by Tether Gold appeared first on NFTgators .
Arbitrum Leads Ethereum Bridges With Record TVL, Achieves 61% Market Dominance
The total value bridged to Arbitrum hit a record high at the beginning of June, according to data from Glassnode and Token Terminal.
On June 6, the total value locked (TVL) on Arbitrum bridge hit a record $10.38 billion, Glassnode data shows.
Meanwhile, the TVL across all Ethereum bridges hovers above the $16 billion mark, up about 100% since September 2023. Therefore, the TVL of Ethereum bridges maintains close the highest level since May 2022.
Arbitrum’s dominance across Ethereum bridges rose to a record 61% on June 6. Only Polygon had a greater dominance level in 2021 at over 74%.
Data from Token Terminal shows that Arbitrum’s bridged TVL hit a record $12.14 billion on June 5.
Meanwhile, the number of active daily and weekly users of Arbitrum Bridge rose to the highest level in over a year, reaching 1,400 and 4,000, respectively.
Arbitrum is currently the largest Ethereum layer 2 by TVL, with a total $17.8 billion in TVL as of June 14, as per L2Beat data. This includes $11.28 billion canonical bridge TVL, $4.86 billion in native TVL, and $1.71 billion in external TVL. Arbitrum’s total TVL crossed the $20 billion at the beginning of April 2024, while the canonical TVL reached a new record earlier in June as mentioned earlier.
Canonical bridge TVL refers to the tokens bridged from Ethereum to the layer 2’s official bridge app, while native TVL refers to the value of tokens minted directly on the L2.
Here is the breakdown of the canonical bridged tokens on Arbitrum – WETH accounts for over 56%.
Arbitrum remains the largest L2 by TVL and the number of active users. It is the only L2 whose number of daily active users crossed the 1 million mark, which happened last month. Currently, the network is used by over 750,000 addresses per day.
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The post Arbitrum Leads Ethereum Bridges with Record TVL, Achieves 61% Market Dominance appeared first on NFTgators .
On June 6, the total value locked (TVL) on Arbitrum bridge hit a record $10.38 billion, Glassnode data shows.
Meanwhile, the TVL across all Ethereum bridges hovers above the $16 billion mark, up about 100% since September 2023. Therefore, the TVL of Ethereum bridges maintains close the highest level since May 2022.
Arbitrum’s dominance across Ethereum bridges rose to a record 61% on June 6. Only Polygon had a greater dominance level in 2021 at over 74%.
Data from Token Terminal shows that Arbitrum’s bridged TVL hit a record $12.14 billion on June 5.
Meanwhile, the number of active daily and weekly users of Arbitrum Bridge rose to the highest level in over a year, reaching 1,400 and 4,000, respectively.
Arbitrum is currently the largest Ethereum layer 2 by TVL, with a total $17.8 billion in TVL as of June 14, as per L2Beat data. This includes $11.28 billion canonical bridge TVL, $4.86 billion in native TVL, and $1.71 billion in external TVL. Arbitrum’s total TVL crossed the $20 billion at the beginning of April 2024, while the canonical TVL reached a new record earlier in June as mentioned earlier.
Canonical bridge TVL refers to the tokens bridged from Ethereum to the layer 2’s official bridge app, while native TVL refers to the value of tokens minted directly on the L2.
Here is the breakdown of the canonical bridged tokens on Arbitrum – WETH accounts for over 56%.
Arbitrum remains the largest L2 by TVL and the number of active users. It is the only L2 whose number of daily active users crossed the 1 million mark, which happened last month. Currently, the network is used by over 750,000 addresses per day.
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The post Arbitrum Leads Ethereum Bridges with Record TVL, Achieves 61% Market Dominance appeared first on NFTgators .
Paradigm Closes $850M Third Fund to Invest in Early-Stage Crypto Projects
Quick take:
The new fund will focus on investing in early-stage crypto projects, the company said in a statement on Thursday.
In 2021 Paradigm set up $2.25 billion to invest in crypto projects and protocols.
The venture firm was founded in 2018 to back crypto projects amid high expectations for the industry in the coming decades.
Paradigm has raised $850 million for its third fund. Announcing the news via its website on Thursday, the firm said the new fund will focus on investing in crypto projects at the earliest stages.
This announcement comes barely two months after the company said it was raising a new fund in the range of $750 million to $850 million for a new crypto fund.
This new fund follows the company’s $2.25 billion fund launched in 2021 to invest in crypto projects and protocols.
Founded in 2018, Paradigm said that its decision to focus on backing crypto projects was based on the belief “that crypto would be one of the most important technical and economic shifts of the coming decades.”
“Six years later, that belief has only gotten stronger,” the company wrote in a statement.
In support of this statement, Paradigm highlighted some of the milestones the industry has achieved over the past six years including Bitcoin hitting a market cap of more than $1 trillion, “Ethereum, Solana and other blockchains scaling” while stablecoins are being adopted globally.
As frontier research in the industry continues to speed along, developers are building new infrastructure that is enabling consumer applications, bringing hundreds of millions of people to crypto. “Crypto is now a main character on the world’s political stage,” Paradigm added.
The company highlighted its role in the industry’s growth over the years, which has seen it invest in multiple crypto projects and protocols, the latest of those being a leading role in zero-knowledge proofs startup Succinct, which raised $55 million in March.
The company has also previously invested in Uniswap, which it says “pioneered the use of AMMs for decentralized exchanges,” Optimism — which “invented one of the leading models for blockchain scaling”, and Flashbots — which “defined the concept of MEV and reinvented how blocks are built.”
“This is the sort of early-stage work that we love contributing to, and it’s what we’ll be increasingly focused on going forward,” Paradigm wrote.
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The post Paradigm Closes $850M Third Fund to Invest in Early-Stage Crypto Projects appeared first on NFTgators .
The new fund will focus on investing in early-stage crypto projects, the company said in a statement on Thursday.
In 2021 Paradigm set up $2.25 billion to invest in crypto projects and protocols.
The venture firm was founded in 2018 to back crypto projects amid high expectations for the industry in the coming decades.
Paradigm has raised $850 million for its third fund. Announcing the news via its website on Thursday, the firm said the new fund will focus on investing in crypto projects at the earliest stages.
This announcement comes barely two months after the company said it was raising a new fund in the range of $750 million to $850 million for a new crypto fund.
This new fund follows the company’s $2.25 billion fund launched in 2021 to invest in crypto projects and protocols.
Founded in 2018, Paradigm said that its decision to focus on backing crypto projects was based on the belief “that crypto would be one of the most important technical and economic shifts of the coming decades.”
“Six years later, that belief has only gotten stronger,” the company wrote in a statement.
In support of this statement, Paradigm highlighted some of the milestones the industry has achieved over the past six years including Bitcoin hitting a market cap of more than $1 trillion, “Ethereum, Solana and other blockchains scaling” while stablecoins are being adopted globally.
As frontier research in the industry continues to speed along, developers are building new infrastructure that is enabling consumer applications, bringing hundreds of millions of people to crypto. “Crypto is now a main character on the world’s political stage,” Paradigm added.
The company highlighted its role in the industry’s growth over the years, which has seen it invest in multiple crypto projects and protocols, the latest of those being a leading role in zero-knowledge proofs startup Succinct, which raised $55 million in March.
The company has also previously invested in Uniswap, which it says “pioneered the use of AMMs for decentralized exchanges,” Optimism — which “invented one of the leading models for blockchain scaling”, and Flashbots — which “defined the concept of MEV and reinvented how blocks are built.”
“This is the sort of early-stage work that we love contributing to, and it’s what we’ll be increasingly focused on going forward,” Paradigm wrote.
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The post Paradigm Closes $850M Third Fund to Invest in Early-Stage Crypto Projects appeared first on NFTgators .
ParaFi and Greenfield Capital Co-Lead $15M Series a for Token Distribution Protocol Layer3
Quick take:
The fundraising comes ahead of Layer3’s planned token launch and Airdrop.
The company has now raised a total of $21.2 million following $6.2 million raised across two rounds.
Layer3 offers a token distribution protocol that enables projects to distribute tokens to their fans across multiple blockchains.
Layer3 has completed a $15 million Series A round co-led by ParaFi and Greenfield Capital. The fundraising also attracted participation from Electric Capital, Immutable, Lattice, Tioga, LeadBlock, and Amber Group. Layer3 co-founder Brandon Kumar said the Series A round was structured as equity with token warrants.
The fundraising brings the total raised to $21.2 million following a $3.7 million strategic round raised in 2022 and a $2.5 million announced in 2021, The Block reported.
The company offers a token distribution platform that enables crypto projects to deploy their tokens across multiple blockchains.
This announcement also comes ahead of Layer3’s planned token launch and airdrop in the coming months.
Since the beginning of 2024, crypto projects have intensified airdrop activity, distributing approximately $4 billion so far.
“Protocol treasuries hold billions of dollars in tokens,” Kumar said. “These tokens, in large part, serve as a Customer Acquisition Cost (CAC) mechanism and will, over time, find the most efficient routes for distribution. Protocols like Layer3 are poised to capture the majority of this demand given our direct relationship with the consumer, efficiency, and targeting capability.”
According to Kumar, more than 100 projects including Uniswap, Base, Arbitrum and Linea use Layer3 to distribute tokens to their stakeholders and the community.
The company is now reportedly working on an AI-enabled protocol to optimise token distribution across different factions of crypto communities. The protocol is planned for launch later this year, Kumar said.
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The post ParaFi and Greenfield Capital Co-Lead $15M Series A for Token Distribution Protocol Layer3 appeared first on NFTgators .
The fundraising comes ahead of Layer3’s planned token launch and Airdrop.
The company has now raised a total of $21.2 million following $6.2 million raised across two rounds.
Layer3 offers a token distribution protocol that enables projects to distribute tokens to their fans across multiple blockchains.
Layer3 has completed a $15 million Series A round co-led by ParaFi and Greenfield Capital. The fundraising also attracted participation from Electric Capital, Immutable, Lattice, Tioga, LeadBlock, and Amber Group. Layer3 co-founder Brandon Kumar said the Series A round was structured as equity with token warrants.
The fundraising brings the total raised to $21.2 million following a $3.7 million strategic round raised in 2022 and a $2.5 million announced in 2021, The Block reported.
The company offers a token distribution platform that enables crypto projects to deploy their tokens across multiple blockchains.
This announcement also comes ahead of Layer3’s planned token launch and airdrop in the coming months.
Since the beginning of 2024, crypto projects have intensified airdrop activity, distributing approximately $4 billion so far.
“Protocol treasuries hold billions of dollars in tokens,” Kumar said. “These tokens, in large part, serve as a Customer Acquisition Cost (CAC) mechanism and will, over time, find the most efficient routes for distribution. Protocols like Layer3 are poised to capture the majority of this demand given our direct relationship with the consumer, efficiency, and targeting capability.”
According to Kumar, more than 100 projects including Uniswap, Base, Arbitrum and Linea use Layer3 to distribute tokens to their stakeholders and the community.
The company is now reportedly working on an AI-enabled protocol to optimise token distribution across different factions of crypto communities. The protocol is planned for launch later this year, Kumar said.
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The post ParaFi and Greenfield Capital Co-Lead $15M Series A for Token Distribution Protocol Layer3 appeared first on NFTgators .
Pixelverse Secures $5.5M to Expand Its Tap-to-Earn Game on Telegram
Quick take:
Bitscale Capital, Ghaf Capital, Big Brain Holdings, LiquidX, Foresight Ventures and The Sandbox founder Sébastien Borget also joined the round.
The company will use the fresh capital to accelerate its growth campaign.
The company said in a statement that Pixelverse’s Web3 game has already attracted over 15 million players in under a month.
Pixelverse, the tap-to-earn game on the crypto community-driven messaging app Telegram has completed a $5.5 million funding round from Delphi Ventures, Merit Circle, and former Nexon CEO Joonmo (James) Kwon.
The fundraising also attracted participation from Bitscale Capital, Ghaf Capital, Big Brain Holdings, LiquidX, Foresight Ventures and The Sandbox founder Sébastien Borget.
Pixelverse Web3 game is accessible directly from the Telegram messaging app. The company claims that the game has already attracted more than 15 million users in just a month. Players can earn crypto rewards based on their playing activity.
Commenting on his company’s participation in the round, Delphi Ventures founding partner Piers Kicks said in a statement: “We are pleased to be backing Pixelverse as they aggressively leverage Telegram’s distribution to drive a massive audience into their ecosystem.”
Pixelverse is part of a rapidly growing gaming community on Telegram that includes Notcoin, whose native token was recently listed on multiple crypto exchange platforms, Hamster Kombat.
In April, Pixelverse partnered with Mon Protocol as part of its strategy for onboarding users.
Kori Leon, COO of Pixelverse and former Binance Listing team commented: “Never in my time at Binance did I see a company with such strong adoption metrics in such a short space of time. Pixelverse is truly a game changer for web3 adoption and it’s incredible to see not only the growth in our userbase but also the deep connections and interactions formed within the community.”
“Closing this round will allow us to expand our adoption strategy as we continue on our journey to become a leading gaming and entertainment hub not only in the web3 space but globally.”
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The post Pixelverse Secures $5.5M to Expand Its Tap-to-Earn Game on Telegram appeared first on NFTgators .
Bitscale Capital, Ghaf Capital, Big Brain Holdings, LiquidX, Foresight Ventures and The Sandbox founder Sébastien Borget also joined the round.
The company will use the fresh capital to accelerate its growth campaign.
The company said in a statement that Pixelverse’s Web3 game has already attracted over 15 million players in under a month.
Pixelverse, the tap-to-earn game on the crypto community-driven messaging app Telegram has completed a $5.5 million funding round from Delphi Ventures, Merit Circle, and former Nexon CEO Joonmo (James) Kwon.
The fundraising also attracted participation from Bitscale Capital, Ghaf Capital, Big Brain Holdings, LiquidX, Foresight Ventures and The Sandbox founder Sébastien Borget.
Pixelverse Web3 game is accessible directly from the Telegram messaging app. The company claims that the game has already attracted more than 15 million users in just a month. Players can earn crypto rewards based on their playing activity.
Commenting on his company’s participation in the round, Delphi Ventures founding partner Piers Kicks said in a statement: “We are pleased to be backing Pixelverse as they aggressively leverage Telegram’s distribution to drive a massive audience into their ecosystem.”
Pixelverse is part of a rapidly growing gaming community on Telegram that includes Notcoin, whose native token was recently listed on multiple crypto exchange platforms, Hamster Kombat.
In April, Pixelverse partnered with Mon Protocol as part of its strategy for onboarding users.
Kori Leon, COO of Pixelverse and former Binance Listing team commented: “Never in my time at Binance did I see a company with such strong adoption metrics in such a short space of time. Pixelverse is truly a game changer for web3 adoption and it’s incredible to see not only the growth in our userbase but also the deep connections and interactions formed within the community.”
“Closing this round will allow us to expand our adoption strategy as we continue on our journey to become a leading gaming and entertainment hub not only in the web3 space but globally.”
Stay on top of things:
Subscribe to our newsletter using this link – we won’t spam!
Follow us on X and Telegram.
The post Pixelverse Secures $5.5M to Expand Its Tap-to-Earn Game on Telegram appeared first on NFTgators .
Pixelverse Secures $5.5M to Build Its Tap-to-Earn Game on Telegram
Quick take:
Bitscale Capital, Ghaf Capital, Big Brain Holdings, LiquidX, Foresight Ventures and The Sandbox founder Sébastien Borget also joined the round.
The company will use the fresh capital to accelerate its growth campaign.
The company said in a statement that Pixelverse’s Web3 game has already attracted over 15 million players in under a month.
Pixelverse, the tap-to-earn game on the crypto community-driven messaging app Telegram has completed a $5.5 million funding round from Delphi Ventures, Merit Circle, and former Nexon CEO Joonmo (James) Kwon.
The fundraising also attracted participation from Bitscale Capital, Ghaf Capital, Big Brain Holdings, LiquidX, Foresight Ventures and The Sandbox founder Sébastien Borget.
Pixelverse Web3 game is accessible directly from the Telegram messaging app. The company claims that the game has already attracted more than 15 million users in just a month. Players can earn crypto rewards based on their playing activity.
Commenting on his company’s participation in the round, Delphi Ventures founding partner Piers Kicks said in a statement: “We are pleased to be backing Pixelverse as they aggressively leverage Telegram’s distribution to drive a massive audience into their ecosystem.”
Pixelverse is part of a rapidly growing gaming community on Telegram that includes Notcoin, whose native token was recently listed on multiple crypto exchange platforms, Hamster Kombat.
In April, Pixelverse partnered with Mon Protocol as part of its strategy for onboarding users.
Kori Leon, COO of Pixelverse and former Binance Listing team commented: “Never in my time at Binance did I see a company with such strong adoption metrics in such a short space of time. Pixelverse is truly a game changer for web3 adoption and it’s incredible to see not only the growth in our userbase but also the deep connections and interactions formed within the community.”
“Closing this round will allow us to expand our adoption strategy as we continue on our journey to become a leading gaming and entertainment hub not only in the web3 space but globally.”
Stay on top of things:
Subscribe to our newsletter using this link – we won’t spam!
Follow us on X and Telegram.
The post Pixelverse Secures $5.5M to Build Its Tap-to-Earn Game on Telegram appeared first on NFTgators .
Bitscale Capital, Ghaf Capital, Big Brain Holdings, LiquidX, Foresight Ventures and The Sandbox founder Sébastien Borget also joined the round.
The company will use the fresh capital to accelerate its growth campaign.
The company said in a statement that Pixelverse’s Web3 game has already attracted over 15 million players in under a month.
Pixelverse, the tap-to-earn game on the crypto community-driven messaging app Telegram has completed a $5.5 million funding round from Delphi Ventures, Merit Circle, and former Nexon CEO Joonmo (James) Kwon.
The fundraising also attracted participation from Bitscale Capital, Ghaf Capital, Big Brain Holdings, LiquidX, Foresight Ventures and The Sandbox founder Sébastien Borget.
Pixelverse Web3 game is accessible directly from the Telegram messaging app. The company claims that the game has already attracted more than 15 million users in just a month. Players can earn crypto rewards based on their playing activity.
Commenting on his company’s participation in the round, Delphi Ventures founding partner Piers Kicks said in a statement: “We are pleased to be backing Pixelverse as they aggressively leverage Telegram’s distribution to drive a massive audience into their ecosystem.”
Pixelverse is part of a rapidly growing gaming community on Telegram that includes Notcoin, whose native token was recently listed on multiple crypto exchange platforms, Hamster Kombat.
In April, Pixelverse partnered with Mon Protocol as part of its strategy for onboarding users.
Kori Leon, COO of Pixelverse and former Binance Listing team commented: “Never in my time at Binance did I see a company with such strong adoption metrics in such a short space of time. Pixelverse is truly a game changer for web3 adoption and it’s incredible to see not only the growth in our userbase but also the deep connections and interactions formed within the community.”
“Closing this round will allow us to expand our adoption strategy as we continue on our journey to become a leading gaming and entertainment hub not only in the web3 space but globally.”
Stay on top of things:
Subscribe to our newsletter using this link – we won’t spam!
Follow us on X and Telegram.
The post Pixelverse Secures $5.5M to Build Its Tap-to-Earn Game on Telegram appeared first on NFTgators .
Pendle’s Record TVL Propels It to 5th Spot in DeFi
Pendle Finance continues to ascend to the top of the decentralized finance (DeFi) sector. The total value locked (TVL) of the protocol reached a new record on June 11 at $6.71 billion. For a while, Pendle became the fifth-largest DeFi project by TVL, according to data tracked by DefiLlama.
As of this writing, Pendle is contending for the fifth position with JustLend and Ether.fi. Both Pendle and JustLend currently have a TVL of $6.5 billion.
Pendle TVL has surged 2,700% since the start of the year. At the beginning of January, $233 million worth of crypto was locked with the protocol.
Pendle Finance is a DeFi project that enables users to tokenize future yields from DeFi assets. The yield can be converted into tokens and traded on Pendle’s Automated Market Maker (AMM) exchange.
The protocol separates DeFi investments into principal tokens (PTs), which represent the underlying asset, and yield tokens (YTs), which represent the asset’s yield. Both the yields and principal can be traded on Pendle’s open market. This provides DeFi yield farmers with new strategies for speculating on yield and locking in future yield rates.
The protocol’s approach can be compared to how interest rate derivative markets work in traditional finance.
One of the main drivers behind Pendle’s rapid surge is the popularity of liquid restaking tokens, with Pendle users being able to speculate on EigenLayer yields and points. Pendle developer RightSide told Coindesk in March:
“The influx of interest in [Liquid Restaking Tokens] has been the main driver behind Pendle’s recent growth.”
Pendle supports six chains, including Ethereum, Arbitrum, Mantle, BNB Chain, Optimism, and Avalanche. Ethereum accounts for about 90% of the TVL on the protocol, with WETH, EETH, and USDE being the three most popular crypto assets locked with it.
The protocol’s native token is PENDLE, with a market cap of $836 million.
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The post Pendle’s Record TVL Propels it to 5th Spot in DeFi appeared first on NFTgators .
As of this writing, Pendle is contending for the fifth position with JustLend and Ether.fi. Both Pendle and JustLend currently have a TVL of $6.5 billion.
Pendle TVL has surged 2,700% since the start of the year. At the beginning of January, $233 million worth of crypto was locked with the protocol.
Pendle Finance is a DeFi project that enables users to tokenize future yields from DeFi assets. The yield can be converted into tokens and traded on Pendle’s Automated Market Maker (AMM) exchange.
The protocol separates DeFi investments into principal tokens (PTs), which represent the underlying asset, and yield tokens (YTs), which represent the asset’s yield. Both the yields and principal can be traded on Pendle’s open market. This provides DeFi yield farmers with new strategies for speculating on yield and locking in future yield rates.
The protocol’s approach can be compared to how interest rate derivative markets work in traditional finance.
One of the main drivers behind Pendle’s rapid surge is the popularity of liquid restaking tokens, with Pendle users being able to speculate on EigenLayer yields and points. Pendle developer RightSide told Coindesk in March:
“The influx of interest in [Liquid Restaking Tokens] has been the main driver behind Pendle’s recent growth.”
Pendle supports six chains, including Ethereum, Arbitrum, Mantle, BNB Chain, Optimism, and Avalanche. Ethereum accounts for about 90% of the TVL on the protocol, with WETH, EETH, and USDE being the three most popular crypto assets locked with it.
The protocol’s native token is PENDLE, with a market cap of $836 million.
Stay on top of things:
Subscribe to our newsletter using this link – we won’t spam!
Follow us on X and Telegram.
The post Pendle’s Record TVL Propels it to 5th Spot in DeFi appeared first on NFTgators .
Web3 Mobile Games Publisher Voodoo Acquires BeReal At €500M Valuation
Quick take:
The acquisition is part of Voodoo’s strategy of diversifying into consumer-focused apps.
Voodoo boasts 7 billion downloads worldwide, while BeReal has a user base of 40 million, according to the announcement.
Voodoo also plans to further invest in BeReal while providing its expertise in product strategy, growth, and infrastructure.
Voodoo, the mobile games publisher for both non-crypto games and blockchain games has announced the acquisition of authenticity-focused gen-z social media platform BeReal at a valuation of €500 million.
The two companies will look to leverage synergies from the acquisition with Vodoo taking advantage of BeReal’s global user base of 40 million to further expand its reach. On the other hand, BeReal will integrate the technologies provided by Voodoo to further enrich the experiences of its users.
Voodoo said that the acquisition further accelerates its diversification campaign into consumer apps.
“Together, Voodoo and BeReal will be ideally positioned to deliver on BeReal’s potential and unlock synergies afforded by the platform’s significant global user base. Voodoo intends to further invest in BeReal while providing its expertise in product strategy, growth, and infrastructure.”
Voodoo offers a variety of products to game developers including financing and technology support. According to its website, its platform helps creators bridge both Web3 games and traditional games to mobile.
“BeReal achieved incredible user loyalty and growth, showing there is a universal need to share real, unfiltered experiences with close friends,” said Alexandre Yazdi, Voodoo co-founder and CEO. “We are very excited to bring our teams together and leverage Voodoo’s know-how and differentiated technologies to scale BeReal into the iconic social network for authenticity.”
BeReal allows users to post short (2-minute) real-time videos of what they are doing every day at the time they receive a push notification. The platform has become popular with Gen Z. Photos posted disappear within 24 hours and there are no follow and like features.
The company sees its acquisition by Voodoo as the beginning of a new growth chapter.
“Voodoo has a proven track record of driving significant growth in mobile apps. Their resources and expertise will help bring BeReal on a sustainable growth path while continuing to deliver on its mission to create an authentic world that keeps you connected with the people you really care about,” said Alexis Barreyat, BeReal founder and CEO.
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Subscribe to our newsletter using this link – we won’t spam!
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The post Web3 Mobile Games Publisher Voodoo Acquires BeReal at €500M Valuation appeared first on NFTgators .
The acquisition is part of Voodoo’s strategy of diversifying into consumer-focused apps.
Voodoo boasts 7 billion downloads worldwide, while BeReal has a user base of 40 million, according to the announcement.
Voodoo also plans to further invest in BeReal while providing its expertise in product strategy, growth, and infrastructure.
Voodoo, the mobile games publisher for both non-crypto games and blockchain games has announced the acquisition of authenticity-focused gen-z social media platform BeReal at a valuation of €500 million.
The two companies will look to leverage synergies from the acquisition with Vodoo taking advantage of BeReal’s global user base of 40 million to further expand its reach. On the other hand, BeReal will integrate the technologies provided by Voodoo to further enrich the experiences of its users.
Voodoo said that the acquisition further accelerates its diversification campaign into consumer apps.
“Together, Voodoo and BeReal will be ideally positioned to deliver on BeReal’s potential and unlock synergies afforded by the platform’s significant global user base. Voodoo intends to further invest in BeReal while providing its expertise in product strategy, growth, and infrastructure.”
Voodoo offers a variety of products to game developers including financing and technology support. According to its website, its platform helps creators bridge both Web3 games and traditional games to mobile.
“BeReal achieved incredible user loyalty and growth, showing there is a universal need to share real, unfiltered experiences with close friends,” said Alexandre Yazdi, Voodoo co-founder and CEO. “We are very excited to bring our teams together and leverage Voodoo’s know-how and differentiated technologies to scale BeReal into the iconic social network for authenticity.”
BeReal allows users to post short (2-minute) real-time videos of what they are doing every day at the time they receive a push notification. The platform has become popular with Gen Z. Photos posted disappear within 24 hours and there are no follow and like features.
The company sees its acquisition by Voodoo as the beginning of a new growth chapter.
“Voodoo has a proven track record of driving significant growth in mobile apps. Their resources and expertise will help bring BeReal on a sustainable growth path while continuing to deliver on its mission to create an authentic world that keeps you connected with the people you really care about,” said Alexis Barreyat, BeReal founder and CEO.
Stay on top of things:
Subscribe to our newsletter using this link – we won’t spam!
Follow us on X and Telegram.
The post Web3 Mobile Games Publisher Voodoo Acquires BeReal at €500M Valuation appeared first on NFTgators .
Polygon NFT Buyers Surges to Record, Surpasses Solana in USD Sales
Polygon has been one of the most active chains by non-fungible token (NFT) activity since the start of June. CryptoSlam data shows that the daily number of unique buyers of Polygon-based NFTs hit a record high on June 9 at 45,200.
Meanwhile, NFT sales on Polygon surpassed $3.4 million on June 7, the highest level since mid-January 2024.
Thanks to this increase in NFT activity, Polygon surpassed Solana by NFT sales over the last week, ranking third on CryptoSlam.
Weekly NFT sales on Polygon surged 30% to $20.2 million, excluding data associated with wash trading.
Elsewhere, Solana NFT sales declined 8% over the same period to $17.6 million.
Bitcoin remains on top with $48.7 million after soaring 54%, thanks to an increase in Ordinals volumes.
DappRadar also ranks Polygon in 3rd position by NFT sales, with Ethereum on top and Bitcoin on 4th.
DappRadar recorded $18.2 in Polygon NFT sales over the week, down 16% from the previous week.
The main driver behind the surge in Polygon NFT activity is the Moon Girl collection, which has generated over $5 million in sales over the last seven days, up 510% over the week.
Moon Girl is a new collection that was launched in June. It consists of 14,000 items representing images of rebel girls.
Another popular NFT collection on Polygon is Poker Girl, which comprises 10,000 NFTs. DappRadar shows that it has generated almost $2 million in sales over the last week, being third after Moon Girl and Liberty Cats. Poker Girl was also launched at the beginning of June.
The NFT market has been greatly affected by the ‘crypto winter’ following the collapse of UST (and LUNA), FTX, and other major crypto platforms. In 2023, Bitcoin ordinals came to the rescue by popularizing the concept of on-chain, censorship-resistant NFTs. Today, Bitcoin tops blockchain rankings by NFT sales.
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Subscribe to our newsletter using this link – we won’t spam!
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The post Polygon NFT Buyers Surges to Record, Surpasses Solana in USD Sales appeared first on NFTgators .
Meanwhile, NFT sales on Polygon surpassed $3.4 million on June 7, the highest level since mid-January 2024.
Thanks to this increase in NFT activity, Polygon surpassed Solana by NFT sales over the last week, ranking third on CryptoSlam.
Weekly NFT sales on Polygon surged 30% to $20.2 million, excluding data associated with wash trading.
Elsewhere, Solana NFT sales declined 8% over the same period to $17.6 million.
Bitcoin remains on top with $48.7 million after soaring 54%, thanks to an increase in Ordinals volumes.
DappRadar also ranks Polygon in 3rd position by NFT sales, with Ethereum on top and Bitcoin on 4th.
DappRadar recorded $18.2 in Polygon NFT sales over the week, down 16% from the previous week.
The main driver behind the surge in Polygon NFT activity is the Moon Girl collection, which has generated over $5 million in sales over the last seven days, up 510% over the week.
Moon Girl is a new collection that was launched in June. It consists of 14,000 items representing images of rebel girls.
Another popular NFT collection on Polygon is Poker Girl, which comprises 10,000 NFTs. DappRadar shows that it has generated almost $2 million in sales over the last week, being third after Moon Girl and Liberty Cats. Poker Girl was also launched at the beginning of June.
The NFT market has been greatly affected by the ‘crypto winter’ following the collapse of UST (and LUNA), FTX, and other major crypto platforms. In 2023, Bitcoin ordinals came to the rescue by popularizing the concept of on-chain, censorship-resistant NFTs. Today, Bitcoin tops blockchain rankings by NFT sales.
Stay on top of things:
Subscribe to our newsletter using this link – we won’t spam!
Follow us on X and Telegram.
The post Polygon NFT Buyers Surges to Record, Surpasses Solana in USD Sales appeared first on NFTgators .
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