Weekly project updates: NFT markets' competitive overview, Ethereum's new routes, Art Gobblers, etc
1. Arweave’s weekly summary
a. Arweave works with Meta to give Instagram creators with storage. link
Arweave, a blockchain storage platform, revealed on November 3 that it has been incorporated into Meta, which uses Arweave to store the digital collections of Instagram creators.
b. RSS3 will assist Arweave in enabling cross-platform presentation. link
RSS3 said on November 3 that it has began adaption work for the Arweave integration Meta, which will enable the display of NFT information across social platforms.
c. Market’s response link
After the announcement of the news on November 3, the price of Arweave’s original token, AR, skyrocketed from $9.99 on November 2 to $17.47 on November 3, a rise of 74.8%.
2. Opensea’s weekly summary
a. With Twitter and OpenSea deal adrift, Magic Eden emerges as key NFT partnerlink
On November 5, sources with knowledge of the situation said that OpenSea and Twitter had considered collaborating on Tweet Tiles but had not reached an agreement on terms. Magic Eden may become a Twitter partner. (The block)
b. OpenSea introduces a new replica detection technique link
OpenSea announced on November 2 the development of a new replica detection system that can identify replicas within seconds.
c. Formula One manufacturer Haas F1 Team has partnershiped with Opensea
Haas will release a variety of NFTs, and the Opensea logo will be used on its automobiles.
3. NFT marketplaces’ weekly summary
a. GameStop has established the NFT market officially. link
On October 31, GameStop announced the debut of their NFT store on Immutable X, which would showcase primarily assets from Immutable X games such Gods Unchained, Guild of Guardians, and Illuvium.
b. STEPN NFT market MOOAR declared the launch. link
The NFT Marketplace MOOAR started on November 1, offering the first “membership model” in which members pay an initial membership cost of $29.90 per month, are exempt from transaction fees, and can conduct an unlimited number of NFT transactions. Community members will be able to produce and publish their own series on the MOOAR launch board. According to reports, the platform would implement a required royalty structure where creators’ royalties will default to 2% or range from 0.5% to 10%, depending on the settings specified by the creators.
c. The Fractal of the Web3 NFT market has launched on Ethereum. link
Fractal, a Web3 gaming NFT marketplace created by Twitch co-founder Justin Kan in December 2021, launched on Ethereum on November 2, alongside the Fractal wallet, SDK, Launchpad, and trading marketplace, with other EVM-compatible chains to come.
d. ImmutableX has released a mechanism for enforcing Ethereum NFT royalties. link
Immutable will launch whitelisting and blacklisting tools on Ethereum on November 4 to enforce creator royalties. The item has been applied to ImmutableX. Creators must determine how tightly they wish to enforce royalties.
e. X2Y2 aggregator will soon be available. link
The NFT aggregator will allow users to acquire NFT from various markets on LooksRare, as was stated on November 5. No launch date has been set yet.
4. Vitalik provided an Ethereum roadmap. link
Ethereum co-founder Vitalik Buterin posted a new roadmap on social media on November 5. Main changes: a. The Verge is about “verkle trees” and “verification”. b. Finale: SNARKed Ethereum. c. The Scourge: reliable and fair genuinely neutral transaction inclusion, address MEV problems.
5. Art Gobblers’ weekly summary
Background: Justin Roiland and Paradigm, a venture capital firm, founded Art Gobblers. The Paradigm Goo model and VRGDA mechanism have garnered significant community interest.
News: Achieve the highest 24-hour trade volume among OpenSea and Blur.
On 1 November, NFT market Blur data revealed that Art Gobblers from NFT projects had the highest 24-hour transaction volume with 12,228.85 ETH. Art Gobblers had 1,046 subscribers, and the floor price increased to 13.9 ETH. With a 24-hour trading volume of 6,149 ETH and a floor price of 14,1 ETH, Art Gobblers topped the list on OpenSea.
Related reading: link
6. Oracle’s weekly summary
a. Chainlink offers a low-latency approach for predicting DeFi derivatives on the market.
A tested version of Chainlink’s low-latency Oracle solution for the DeFi derivatives market is likely to be available before the end of the year, as revealed on 2 November. The solution, according to Chainlink, has a developing architecture built to perfectly fulfil the requirements of a derivative dApp, with benefits such as low latency, reduced front-runner risk, and decreased Gas costs.
b. The oracle project Pyth Network onboard on Ethereum and Optimism. link
Pyth Network, the old Solana Eco-Oracle project, announced on November 1 the online publication of its feed price data on the Ethereum and Optimism mainwebs through a collaboration with Wormhole, a cross-chain interoperability technology. Pyth has previously launched BNB Chain and Aptos.
c. Version 1.0 of Empiric Network, an oracle based on StarkNet, has been released.
On November 2, Empiric Network, a decentralised oracle built on StarkNet, published V1.0, which included interface changes, futures data, new endpoints, and other features.
7. MakerDao’s weekly summary
a. MakerDAO has augmented its portfolio with traditional financial assets. link
MakerDAO reported on November 4 that it has added traditional financial assets, including as short-term bond ETFs, to its portfolio and got a return on its GUSD holdings. According to official estimates, its yearly revenue will be $20.2 million.
b. Sandwich attack suspected in DODO’s USDT/DAI liquidity pool link
Mike B, the head of technology at Balancer DAO, tweeted on November 1 that major sandwiching is occurring at the Dodo USDT/DAI pool. Have you ever wondered why a stableswap pool with less than $10 million in liquidity and average depth generates $50-$100 million in daily volume? The response is MEV.
8. Public Chain Sui introduces Sui Capys. link
On November 4, Gonglian Sui launched the Web3 game Preview Sui Capys on the beta Web, where players can buy, trade, breed and decorate Capys. Capys used Sui’s object-orientation to illustrate asset ownership, transferability, and dynamic fields. The developer used Sui Move to construct modules, types, and a registry for recording and validation to develop Sui Capys.
9. Compound Community will vote on a proposal to cut cSUSHI to 70%. link
Compound Community Proposal 133, which proposes lowering the Compound V2 SUSHI mortgage factor cSUSHI from 73% to 70%, was placed on the vote on November 2. The vote concluded on November 4 with 90.7% in favour.
10. Yuga lab’s weekly summary
a. The ApeCoin community has proposed a $1,000,000 bug bounty. link
The ApeCoinDAO community released a draught AIP on October 30, while the ApeCoin community proposed a million-dollar bug bounty. The plan recommends using Treasury Assets to fund Immunefi’s $1 million APE to support bug bounty programmes and to collaborate with Llama in designing, implementing, and operating these programmes. AIP-134 was approved on November 3 with 57.92% of the vote.
b. Yuga Labs’ NFT project Meebits has released a brand-new activation website. link
The Meebits NFT project by Yuga Labs unveiled a new activation webpage and a free printing service for holders on November 4. Meebits are created as 3D characters, with MB1 serving as the initial chapter of the story. There will be nine versions, and the newly activated website will serve as the launching pad for every new experience, activation, or opportunity.
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e. LooksRare aggregator will soon be available.