Hi Insiders, Join me on Thursday, Oct. 14, as we dive into the NFT world and explore the value of community and why it is vital to launching and growing a successful project. Sign up to attend for free today! We'll be hearing from Tony Depa (Makersplace), Giselle Barbosa (DinoMonks NFTs), and Avery Akkineni (VaynerNFT). And big thanks to our sponsor UTU.ONE for making this event possible! | |  Griffin |  |
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The global crypto market cap is $2.30T 0.23%▼ with a 24-hour market volume of $117.04B 11.77%▼. Bitcoin's dominance is currently 44.48% 0.16%▲. CURRENT PRICES BY MARKET CAP | # | Name | Price | 24h % | | 1 | Bitcoin BTC | $53,968.28 | 0.40% ▼ | | 2 | Ethereum ETH | $3,555.28 | 1.88% ▼ | | 3 | Cardano ADA | $2.23 | 2.93%▼ | | 4 | Binance Coin BNB | $417.33 | 5.90%▼ | | 5 | XRP XRP | $1.06 | 1.71% ▼ | Source: CoinMarketCap, 5:00 EST
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 Crypto projects raised a record $6.5B in venture funding in Q3. The funding was spread across 339 publicly disclosed deals, according to research from Blockdata. More: - Q3 was the third consecutive record-setting quarter for venture capital funding in crypto.
- The latest quarter raised almost double the total amount of capital raised throughout 2020 ($3.8B).
- FTX held the largest funding round at $900M, followed by Sorare ($680M), Genesis Digital Assets ($431M), Fireblocks ($310M), and Bitpanda ($263M).
- Coinbase Ventures participated in the most deals at 18, with Animoca Brands (10) and Polychain Capital (11) also reaching double digits.
- Blockdata’s research does not include investments made in token-generating events or ICOs.
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 Infamous art forger Wolfgang Beltracchi launched his debut NFT project “The Greats.” The Ethereum-based NFT project features 4,608 recreations of Salvator Mundi pieces. More: - Beltracchi was arrested and sentenced to six years in prison for forging 14 famous artworks and selling them for a total of $45M. He was released in early 2015 after serving three years.
- Despite only facing charges for 14 forgeries, Beltracchi claims to have faked around 50 different artists, netting a total profit of over $100M.
- After his arrest, Beltracchi was banned from exhibiting or selling art via art museums, galleries, or auction houses.
- The upcoming auction will be a hidden sale, which uses Chainlink’s Verifiable Random Function (VRF) to ensure buyers do not know what NFTs they are minting.
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TOP ETHEREUM NFT COLLECTIONS | # | Name | 24h Volume | 24h % | | 1 | MekaVerse | $62.57M | - | | 2 | Axie Infinity | $60.96M | 3.78% ▼ | | 3 | CryptoPunks | $9.38M | 150.57%▲ | | 4 | Art Blocks | $5.95M | 33.21% ▼ | | 5 | ZombieCats | $4.09M | 2257.99% ▲ | Source: DappRadar, 5:00 pm EST
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 A message from UTU TECHNOLOGY INC. UTU.ONE is a mobile social platform that allows anyone to establish their own DAOs, engage with others, and take part in the success of other communities. Here’s what you should know about UTU: - A social space that interconnects gated communities and independent economies.
- A space where creators and followers are free to interact, share content, and get rewarded
- Member-owned NFT markets and revenue share
- Mint and trade NFTs for free, with no environmental footprint
- Hold tokens and earn passive income
- NO platform-driven decision-making hierarchies
- Data security and privacy protection
Sign up today with the code redefinesocial and get free tokens.
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 🍋 Fresh Funding 🍋 Gelato, Smart Contract Automation: $11M ⮕ The Series A funding round was led by Dragonfly Capital with participation from ParaFi Capital, Nascent, IDEO CoLab Ventures, and others. More: - Gelato is an Ethereum-based smart contract automator that offers protection protocols for liquidity and volatility.
- The fresh funding from the private token sale round will be used to add additional blockchains to the network and onboard more team members.
- Gelato is already integrated into several projects, including MakerDAO, Instadapp, and QuickSwap.
ReNFT, NFT/Rentals: $1.5M ⮕ The seed funding round was led by Animoca Brands and participated in by Lattice Capital, Play Ventures, LongHash Ventures, and others. More: - ReNFT is a DAO that operates an NFT rental market on the Ethereum blockchain.
- The platform lets lenders rent out their NFTs to a smart contract with a set daily rental price and maximum time period for renting.
- ReNFT recently enabled a rental market for Stoner Cats, which gives NFT holders access to private Stoner Cat Discord events and a library of video content.
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▲ TOP GAINERS | # | Name | Price | 24h % | | 1 | Harmony ONE | $0.2328 | 31.58% ▲ | | 2 | Fantom FTM | $2.27 | 18.32% ▲ | | 3 | Elrond EGLD | $266.82 | 11.04% ▲ | | 4 | Shiba Inu SHIB | $0.00002574 | 6.98% ▲ | | 5 | Filecoin FIL | $77.65 | 7.71% ▲ | ▼ TOP LOSERS | # | Name | Price | 24h % | | 1 | Terra LUNA | $43.49 | 6.73%▼ | | 2 | Tezos XTZ | $7.33 | 5.21%▼ | | 3 | Binance Coin BNB | $417.32 | 5.90%▼ | | 4 | Cosmos ATOM | $35.72 | 4.60%▼ | | 5 | Chiliz CHZ | $0.3307 | 4.52%▼ | Source: CoinMarketCap, 5:00 EST
*Limited to cryptocurrencies in the Top 100
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Yearn Finance (YFI) and Fantom (FTM) jumped in price following Yearn’s decision to expand its protocol to the Fantom network. Yearn stated that it plans to expand into other networks soon. More: - Yearn and Fantom network already had existing synergies, with Fantom network offering support for Yearn development tools and Yearn’s partner Cream Finance.
- Following the announcement, YFI shot up 17% but has since retracted.
- Fantom also rose on the news, boosting its already impressive seven-day rally to 91%.
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 Ethereum co-founder Vitalik Buterin spoke out against El Salvador’s Bitcoin (BTC) adoption. Buterin called the adoption “reckless” and shamed Bitcoin maximalists for supporting it. More: - Buterin’s comments were made in response to an unpopular opinion post on Reddit’s r/cryptocurrency.
- His primary concern was that President Bukele pushed BTC on his citizens without offering prior education on crypto scams and hacks.
- Buterin’s opinion has been growing more popular among El Salvadorians, who held protests in response to the new crypto law a couple of months ago.
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- Publicly traded North American mining firms "hodled" over 20,000 BTC ($1.1B) in Q3; 82% more than Q2.
- Binance announced that it would disable futures, options, margins, and leverage features to users in South Africa.
- Arcane Crypto predicted that Light Network activity would reach 700M by 2030 in their latest research in the “State of Lightning.”
- NFT racing game ZED RUN announced that it deployed a cross-chain bridge with Biconomy to transfer assets between Ethereum (ETH) and Polygon (MATIC).
- The Bank of England stated that cryptocurrencies and other digital assets only pose a limited risk to the UK.
- JPMorgan called bitcoin a better inflation hedge than gold, according to a report published by Markets Insider.
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Upcoming Events - October 12 - Join Flatfile as they announce a groundbreaking upgrade to its customer data onboarding platform. (Register Here)*
- October 14 - NFT Community Collectibles (Register Here)
- October 26-27 - Meet our Fund Fall ’21 Cohort (Register Here)
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 |  | Griffin McShane is a New York transplant currently living in Brooklyn, NY. He is a graduate of Providence College, where he studied both computer science and business, and the University of Maine School of Law, where he earned his JD. Beyond his work at Inside, Griffin has written articles for CoinDesk and is a member of the International Association of Privacy Professionals (IAPP). | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
UTU.ONE is the world’s first mobile platform for anyone to create their own DAO and join tokenized economies. | |
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