2/ In March we saw the first boom of $AVAX NFTs with projects like @cryptoseals, @southpolesanta1, @lamasticards, and @cubetarium launching as Avalanche-exclusive NFT projects, capturing the imagination of the community (myself included) and selling assets in excess of $500k-$1m.
3/ Right after these launches, @snowflakeavax & @unifty_io created marketplaces for these assets to be more easily discovered, listed, and traded between users.
4/ Now, we’re in the midst of another round of innovation with Avalanche NFTs, as the first entrants continue to evolve and new projects launch.
Let’s take a closer look at four projects that have caught my eye.
5/ First, Mexico’s most popular soccer club – and one of the most popular clubs in all of Latin America – @Chivas, is celebrating its 115th Anniversary with an exclusive NFT series on @avalancheavax.
6/ In addition to being the heart of Mexican soccer as Ava Labs @RicardOruka can attest, Chivas is pioneering NFTs for Latin American soccer clubs with stunning art commemorating milestones in its history.
7/ Its NFT auction ends today, but there’s still time to outbid me for a piece of @Chivas History wegoatyou.art/#/
8/ Second, @AvaxStars, a new generation of a web-based game based on Avalanche that uses NFTs to create characters, in-game items like weapons, vehicles, and gear. Similar to Cryptokitties, each Avaxtar character has a digital genetic code that guarantees they will be unique.
9/ Its team has an ambitious roadmap for how it will expand functionality, reward early adopters, and build a vibrant in-game ecosystem. The app is already in Phase 2 of development, and moving fast.
10/ Next, @HatchyPocket, another NFT-driven game on Avalanche with some truly beautiful artwork and a wide range of collectibles.
11/ Hatchy Pocket is still in the early phases of its distribution before the in-game functionality is launched. You can start building out your own Hatchy collection now:
12/ Finally, just this Wednesday, @Topps, one of the biggest collectibles companies in the World, launched a novel @ToppsNFTs experience on Avalanche that merges the best of Web 2.0 and 3.0.
13/ The $AVAX NFT Community is rapidly raising the bar of innovation in NFTs, and I can’t wait to see what this group inspires the next generation to create.
Discover more NFT projects and dapps in the Avalanche ecosystem here:
2/ DeFi on @AvalancheAVAX is growing rapidly. New users, assets, and applications are joining the community rapidly to tap into the vibrant $AVAX DeFi ecosystem.
3/ That growth is despite a bridge that has had many issues for users. An upcoming, first-of-its-kind bridge is a lot faster and 5X cheaper, and will open the floodgates for liquidity to flow into Avalanche.
A useful reminder about the differences between cryptocurrencies, especially PoW vs PoS.
Proof of Work currencies, like Bitcoin and Ethereum, rely on mining for maintaining their ledger. Miners continually use electricity in order to solve cryptopuzzles and add new blocks to the ledgers.
Mining is thus an expensive proposition. Gone are the days when miners used to use stolen electricity. They are industrial operations for the most part now, and have power bills to pay.
Five years ago today, we started a fateful chapter in the history of cryptocurrencies. A hacker began a $55M heist from The DAO, and the ecosystem forever changed.
With so many new people in crypto since 2016, let’s dive back into the episode and what we learned.
A DAO, or Decentralized Autonomous Organization, is a way of coordinating ownership, decisions, and capital with coded governance, rather than a central authority. These organizations have enormous potential for changing how internet-native businesses function.
The DAO, an implementation of the concept, was engineered to support a decentralized venture capital fund. Users bought DAO governance tokens with $ETH, and would use the tokens to vote on potential investments with the pooled funds.
So, the $AVAX community is growing quickly, and there are lots of exciting airdrops. Let’s talk a little bit about airdrop etiquette.
Last week, the @Baguette_avax team began airdropping its native token, $BAG, to validators and delegators securing the Avalanche network. They gave around $750 to each validator and delegator, and it cost only $800 to be eligible.
Someone put in a market sell order for 500,000 $AVAX this morning, $16mm worth, all at once. The open question is, was this a "bear raid," where someone opens a leveraged short position and then dumps to profit, or was it a "fat finger"?
Having spent 10 minutes looking around, the math behind a bear raid doesnt' actually work out. Running a trade of shorting on futures and dumping on spot would not have been profitable given $AVAX's liquidity on spot and futures.
So, the evidence points to a "fat finger," where someone put in an extra zero by mistake.
Two weeks ago, @PangolinDEX became the first Avalanche project to surpass $1B in trading volume. Let’s talk about Pangolin, AMMs, community-driven projects and their pros and cons.
Overall, Pangolin is unique because it offers:
- Fully decentralized, non-custodial trades
- Super cheap fees
- Real-time execution, near-instant finality
- No miners front-running orders
- A 100% community-driven project