Future Finance - Issue #122: Nifty Corporates, The Dawn of Consumer Crypto And Who Owns Your Metaverse?

Welcome to another issue of Future Finance, your weekly off-chain newsletter about the world of on-ch

Future Finance - Issue #122: Nifty Corporates, The Dawn of Consumer Crypto And Who Owns Your Metaverse? By Alan Tsen • Issue #122 • View online Welcome to another issue of Future Finance, your weekly off-chain newsletter about the world of on-chain finance. And always, there's no shortage of news from the industry. So grab a coffee (or beer), and let's get into this week's news from the world of open and decentralised finance. 👉 Got some interesting news I should include in my newsletter? Feel free to respond to this email or hit me up on Twitter - my DMs are always open. — Alan Tsen 👊 💯 Ps. If you like what I'm doing here, please feel free to share it on your favourite social media network. Also, it'd be great if you forwarded this newsletter to a friend you think might enjoy it.

📰 News This Week

Nifty Corporates Over the past few weeks, something strange has been happening: the corporates have come for the NFTs. That's a good thing. Let's get to it. Last week, VISA's $150k purchase of a CryptoPunk caught everyone's attention, but Budweiser's foray into rare jpegs was much funnier.  www.notboring.co  •  Share

Open Sourcing Our Token Delegate Program Over the last year we've worked with dozens of delegates across a number of leading protocols. Here are some of the best practices that we've identified. As this process unfolds, a new set of "protocol governors" emerges to take the reins from the original development team. Done properly, this new community is incentivized to act in the protocol's best interest and is diverse enough that competing interests can balance one another out. a16z.com  •  Share

Who Owns Your Metaverse? Close your eyes, and try to imagine all of the different media that you produce on a daily basis. The posts, the stories, the memes, and even the likes you make on other people's content. Imagine them all floating in the air in front of you, forming a cloud. m.mirror.xyz  •  Share

An AMA actually worth reading ⇣

vitalik.eth @VitalikButerin Doing a random twitter experiment just on this day. Only the 268 people I follow can reply to this tweet. Feel free to ask things and I'll talk about anything crypto or non-crypto related. 8:31 AM - 2 Sep 2021

Three Arrows Founders and Mysterious Collector 'Vincent Van Dough' Launch $100M NFT Fund On August 29, a prolific NFT collector who goes by the pseudonym VincentVanDough (VVD) announced that they would be launching a new NFT fund in partnership with Su Zhu and Kyle Davies, the founders of crypto hedge fund Three Arrows Capital. thedefiant.io  •  Share

A Boomers View on Social Tokens I proudly stand behind the fact that Wikipedia certifies me as dead smack in the middle of being a Gen X'er. I grew up as a punk rock kid of the 80s, traveled around as a wanderer throughout most of the 90s and finally settled down to raise a family for the past 2 decades. I have lived an active life, have always felt young at heart and although I would never consider myself a "Tech Guy" per se, I feel far from being tech-illiterate – or so I thought until I entered into the world of crypto. globalcoinresearch.com  •  Share

The Dawn of Consumer Crypto Browsers, applications and platforms are how consumers live online. Today, new digital lives are being led in different corners of the internet on top of the blockchain. But for all the media coverage of crypto, users will only start to care about this revelatory infrastructure shift when it is showcased through the services they use most. It's hard to see things in the dark, and consumers show up when these products and applications turn on the lights. tcg.mirror.xyz  •  Share

The New Creator Economy - DAOs, Community Ownership, and Cryptoeconomics Since I first had what I can only describe as a spiritual awakening about 10 years ago to the fact that technology would (figuratively) rule the world, I've been obsessed with wanting to understand how software works and how to build it. dev.to  •  Share

"Fantasy Hollywood" — Crypto and Community-Owned Characters Decentralized autonomous organizations (DAOs) and non-fungible tokens (NFTs) enable a new model for bringing new characters into the world. future.a16z.com  •  Share

Celo, Aave, Curve, Sushi Launch $100 Million Defi Initiative Celo has been making a play for DeFi users. Now DeFi protocols such as Aave, Curve, and Sushi are giving users added incentives. decrypt.co  •  Share

Investing in Yield Guild Games Right now there is a largely untapped economic opportunity in emerging markets to provide jobs by building a virtual economy in the digital world. a16z.com  •  Share

🎧 Podcasts Of The Week

How Christie's Learned to Love NFTs with Noah Davis - nft now podcast In this episode, we're honoured to welcome Noah Davis, the NFT guy at Christie's, and more formally, the major auction house's AVP Specialist, Head of Digital Sales, Contemporary Art. He's a futurist and a true NFT lover at heart and has used his role and platform at Christie's to uplift the industry as a whole.  pca.st  •  Share

Conversations with the Coop - Cooper Turley from Audius Partnership between TikTok and Audius? What is the next unlock for DAO tooling? "I think that DAOs are the new LLCs" and more! To listen live on the next Conversations with the Coop - Follow Index Coop on Twitter and join the Index Coop Discord to get the real Owlpha. open.spotify.com  •  Share

NFT Use Cases, Today and Tomorrow Recently, a16z and the Stanford Center for Blockchain Research hosted the NFT Virtual Summit, which brought together leading thinkers and builders on the topic of NFTs, or non-fungible tokens — these tokens are enabling new creator and ownership economies to emerge. We've covered NFTs in other podcasts and articles, including a curated list of reading resources. pca.st  •  Share

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By Alan Tsen Future Finance is a curated newsletter sent to your inbox every week. We cover all the most important news in the world of decentralised finance. It takes 10 minutes to read and provides you with all the essential news. Tweet     Share

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Texas crypto legislation took effect / Audius integrated Solana-based NFTs / ADA broke $3 and reached a new ATH / El Salvador approved of $150M BTC Trust

Plus: Bitcoin Lighting tipping service on Twitter was confirmed by Twitter product lead.

Inside.com Part of   Network September 02, 2021

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The global crypto market cap is $2.24T 2.61%▲ with a 24-hour market volume of $125.13B 1.70%▼. Bitcoin's dominance is currently 41.73% 0.06%▲. CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $49,616.93 2.78% ▲ 2 Ethereum ETH $3,821.63 2.42% ▲ 3 Cardano ADA $2.98 5.06%▲ 4 Binance Coin BNB $487.86 0.69%▲ 5 XRP XRP $1.27 4.73% ▲ *Prices as of 5:00 p.m. ET.

Texas crypto regulations HB 4474 and HB 1576 are now in effect. The two house bills are aimed to further the adoption of cryptocurrencies and blockchain technology in Texas. More: Both HB 4474 and HB 1576 were passed by the state legislature in May and signed into law by Gov. Greg Abbott in June. HB 4474 (“Virtual Currencies Bill”) amended the Texas Uniform Commercial Code (UCC) to recognize crypto under commercial law.  HB 1676 (“Blockchain Work Group Bill”) established a blockchain working group within the state of Texas. Texas is the fourth state in the U.S. to amend its UCC to recognize digital assets, behind Wyoming, Rhode Island, and Nebraska.

Audius (AUDIO) announced the launch of Solana (SOL) NFT integration through Phantom. Over 6 million users of the Audius music streaming platform will now be able to feature Solana NFTs. More: Phantom is a non-custodial wallet and browser extension for Solana-based assets that raised $9M in a Series A funding round back in July. Solana NFT functionality will be first released to Audius accounts holding over 100 AUDIO tokens. Audius previously made headlines in August when it announced a partnership with TikTok.

A message from VOICE Introducing Voice: an NFT platform for emerging creators The NFT market surged to new highs in the Q2 of 2021, hitting $2.5 billion in sales so far this year. Yet even during its busiest time, there were fewer than 50k active participants - meaning there’s a long way to go before the technology hits the mainstream. (source) That’s because hurdles are high for creators looking to get involved. A steep learning curve and complex onboarding have kept the technological benefits of NFTs to a relatively small audience - until now. Introducing Voice, a carbon neutral NFT platform built specifically for emerging creators. The platform is environmentally friendly and has a clear path to becoming decentralized and portable. Voice is easy to use for both creators, who can mint for free, and collectors, who can use credit cards to purchase. The platform is being built with real-time feedback from both established curators and emerging creators. Voice believes that NFTs can change how we all share, collect and exchange ideas. Start minting today for free at Voice.com

🍋Fresh Funding🍋  Cabital, Wealth Management: $4M ⮕ The seed funding round was led by SIG, Dragonfly, and GSR. More: Cabital is a Singapore-based digital assets institution that offers digital asset wealth management services. The fresh funding will be used to acquire new talent and develop its digital wealth management platform. Cabital’s leadership team includes former leaders of traditional financial institutions like JPMorgan, Nomura Securities, and UBS. Simba Chain, Secured Smart Contracts: $25M ⮕ The Series A funding round was led by Valley Capital Partners with participation from Notre Dame Pit Road Fund, Stanford Law School Venture Fund, and Elevate Ventures. More: Simba Chain offers a smart contract platform with enterprise security for companies and organizations looking to implement blockchain technology. The fresh funding will be used to scale the Simba Chain and dedicate resources to NFTs and other emerging blockchain developments. The University of Notre Dame-incubated platform is currently being used by Boeing and U.S. defense organizations (Army, Navy, Marines, and Air Force). Simba currently has over 6,000 users and reported revenue growth of 360% over the last year. Trader Joe, DEX: $5M ⮕ The token sale funding round was led by DeFinance Capital, GBV Capital, and Mechanism Capital, with participation from Three Arrows Capital, Avalanche Foundation, Coin98 ventures, and others. More: Trader Joe (JOE) is the second-largest DeFi protocol on the Avalanche (AVAX) blockchain, with over $460M in locked funds. Anonymous co-founders 0xMurloc and Cryptofish stated that the fresh funding would be used to grow the Trader Joe team. JOE is the sixth-largest Avalanche token by market cap and is currently trading around $2. UXD Protocol, Stablecoin: $3M ⮕ The seed funding round was led by Multicoin Capital and participated in by Alameda Research, CMS Holdings, Defiance Capital, and others. More: UXD Protocol (formerly Soteria) is an algorithmic stablecoin provider on the Solana (SOL) blockchain. The fresh funding will be used to hire additional developers and scale the product team. The project aims to take a piece of Tether and USD Coin’s $100M market cap and provide the first decentralized stablecoin.

▲ TOP GAINERS # Name Price 24h % 1 IOTA MIOTA $1.54 36.56% ▲ 2 Holo HOT $0.0127 15.12% ▲ 3 Revain REV $0.02629 13.79% ▲ 4 Solana SOL $128.88 13.79% ▲ 5 Amp AMP $0.05964 13.11% ▲ ▼  TOP LOSERS # Name Price 24h % 1 Celo CELO $5.69 8.00%▼ 2 Fantom FTM $0.8847 5.84%▼ 3 Perpetual Protocol PREP $19.60 5.83%▼ 4 SushiSwap SUSHI $13.17 5.15%▼ 5 Arweave AR $57.03 4.56%▼ *Limited to cryptocurrencies in the Top 100. Prices as of 5:00 p.m. ET.

Cardano (ADA) broke $3 and reached a new ATH following the launch of smart contracts on the Cardano testnet. ADA has skyrocketed 137% since the announcement of smart contract functionality via the Alonzo hard fork. More: ADA overtook Binance Coin (BNB) as the third-largest crypto with a total market cap of $96.8B. Cardano has been working toward smart contract integration since the project began in 2017. Cardano’s strength moving into the Alonzo upgrade shows a positive sentiment among users that Cardano stands a chance to disrupt Ethereum’s $95B DeFi capitalization.

A message from SUSE In a world where the future of technology starts today, this guide can help you stay a step ahead. According to Gartner, Edge Computing is entering the mainstream as organizations look to extend cloud to on-premises and to take advantage of IoT and transformational digital business applications. And as solutions suddenly need to accommodate growth from 10s to 100s to 1000s and beyond, the challenge quickly becomes one of “Management at Scale”.  But can we really have “Full Lifecycle Management” for the Edge?  This free e-book will show you how. Learn about: Near, Far and Tiny Edge. Understand Edge landscape with an easy to use Edge framework.   Achieving near-zero maintenance.   A cloud-native Edge solution running Kubernetes and Linux at the Edge. Latest industry trends and emerging use cases. Download the e-book today

Bitcoin (BTC) futures volume reached $1.73T in August, up 17% from July. This is the first time the BTC futures market exceeded $1T since its high of $2.56T in May. More: Binance had the largest futures volume at $849.33B, followed by ByBit ($229.01B) and Okex ($172.31B). BTC options volume also increased by 66%, up to $17.79B from July’s $10.72B. Deribit had the largest options volume at $16.35B, followed by FTX ($232.62M) and CME ($403.04M).

El Salvador legislators approved a $150M Bitcoin Trust. The bill to create the trust received 64 votes in support and only 14 in opposition. More: The newly created trust will be used to support El Salvador’s new technological infrastructure and enhance BTC to USD conversions. The new crypto bill also contained provisions for the support of crypto services and infrastructure.  El Salvador has allocated $23.3M to establish crypto ATMs and $30M to incentivize the adoption of the Chivo wallet.

QUICK HITS Need a break from grocery shopping? Inside readers get 14 days of free meals plus free shipping from HelloFresh. Use code "INSIDE14" to claim now!* The launch of a Bitcoin Lighting tipping service on Twitter was confirmed by a product lead at Twitter. South Korean telecom provider KT Corp announced that it would launch a blockchain digital document project to track carbon emissions. Coinbase announced that it would offer ETH2 staking rewards (5%) for customers in the U.K. OKEx launched an NFT minting and marketplace platform for OKExChain and Ethereum blockchains. The Central Bank of Singapore issued an alert stating that Binance illegally offered its services to citizens. Over 60 of the "Fortune 100" companies manage apps via Replicated. See why here.*

Upcoming Events September 2 – A SPACES Conversation with Anand Iyer (Set A Reminder) September 8-11 – LTX Quest: Meet thousands of leading Latinx professionals at the largest Latinx networking event in the world. (Free ticket on us)* September 15 – Psychedelic Medicine: Fad or Phenom? (Register Here) September 21 – AMA with Katie Stanton of Moxxie Ventures (Register Here) September 29 – Livestream Shopping: The rise of the next billion-dollar industry (Register Here) October 6 – Design for Startups (Register Here) October 14 – NFT Community Collectibles (Register Here) October 26-27 – Meet our Fund Fall ’21 Cohort (Register Here) Want to see all of our upcoming events? Visit us at https://inside.com/events DID YOU KNOW WE'RE HIRING? We have multiple positions open for 100% remote, full-time analysts. Apply or refer someone. https://bit.ly/jobs-inside-NL. *This is a sponsored post

Griffin McShane is a J.D. candidate currently living in Portland, Maine. He is a graduate of Providence College, where he studied both computer science and business. Griffin aspires one day to go to the moon and bring some of his altcoins along for the ride. 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.

Voice is making NFTs easy for everyone. Mint your first NFT for free today at Voice.com.

SUSE is a global leader in enterprise-grade open source solutions including Linux, Kubernetes and Edge.

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