TLDR Crypto Daily Update 2022-03-15

Coinbase for DAOs πŸ§‘β€πŸ€β€πŸ§‘, Pixar NFTs πŸ–ΌοΈ, secret NFT prize 🎁

Innovation & Launches

Pixar NFT drop sells out on VeVe shortly after launch (2 minute read)

Disney Pixar Pals sold out all of its 54,995 NFTs within 24 hours of their launch on Veve marketplace on GoChain. Users purchased their NFTs from a blind box, so they did not know what they would get until after payment. The NFTs consisted of iconic characters and moments created by Pixar. Buyers had to use Gems, Veve's in-app stablecoin, to purchase the NFTs. Each NFT cost around $60, and they are now selling for up to around $350 on the secondary market.

BitClout Founder's New Hustle: 'Coinbase for DAOs' (6 minute read)

DAODAO is a project that aims to make it easy for anyone to set up a decentralized autonomous organization with just a name and a funding goal. The project was created by Nader El-Naji, the founder of BitClout, a controversial crypto social media project that launched last year. DAODAO will replicate the easy-to-use interface of NFT marketplaces like OpenSea and support multiple currencies and blockchains. The project is set to go live in three weeks. DAODAO is now selling NFTs that will give holders a portion of tokens and a cut of future DAO launches.

Ethereum Staking Protocol Swell Raises $3.75M as Locked ETH Tops $26B (1 minute read)

The Ethereum 2.0 staking contract now holds more than 10 million ETH. It currently costs 32 ETH to become a validator on the Ethereum 2.0 staking contract. Swell is a company that is allowing people to stake their ETH with a minimum commitment of just one ETH. It will launch its beta on the Ethereum mainnet in April. The company plans on expanding to other blockchains starting with Avalanche and Polygon. Other liquid staking solutions that allow lower minimum deposits already exist.
Guides & Resources

Common pitfalls for Web3 founders (9 minute read)

This Twitter thread presents a report that discusses common pitfalls for web3 founders. The report discusses public relations and marketing, hiring, community management, and token economics for web3 startups. It provides practical advice on how to create an effective web3 company.

What Are DeFi Tokens? (3 minute read)

DeFi tokens are a set of cryptocurrencies native to automated, decentralized platforms that operate using smart contracts. The top DeFi tokens include LUNA, DAI, and LINK. Governance tokens allow holders to participate in the decision-making processes of DeFi platforms. Holders with more tokens usually have greater voting powers than those with fewer tokens. DeFi tokens may experience significant losses when the underlying protocol suffers a critical vulnerability. Changes in the project or team may also shift market sentiments. DeFi token index funds can help investors gain exposure to all major DeFi tokens.

Why Larva Labs Sold the CryptoPunks NFT IP to the Bored Ape Creators (7 minute read)

Yuga Labs recently bought CryptoPunks and Meebits from Larva Labs. Yuga Labs and Larva Labs have taken very different approaches to NFTs, with many CryptoPunks owners complaining about unclear guidance on commercial rights for their NFTs and other problems. Larva Labs have acknowledged that the growing demands of NFT projects were outside of their aims and abilities. Yuga Labs will grant full commercialization rights to CryptoPunks and Meebits NFT owners. It will not pursue any of Larva Labs' DMCA takedown requests regarding derivative projects.

El Salvador’s millennial president launching Bitcoin β€˜volcano bond’ in major bet on cryptocurrency craze (4 minute read)

El Salvador is getting ready to sell its volcano bonds. It plans to release the bonds before March 20, depending on the international context. Half of the funds raised from the sale will go towards infrastructure spending on the country's new Bitcoin city and the other half will be invested into Bitcoin. Any capital gains after five years will be split evenly between the country and bondholders. The demand for the bond mainly comes from the crypto community. If the sale is successful, it could help the country avoid relying on the International Monetary Fund for credit.

This is the story of how @larvalabs, the creators Cryptopunks, hid a secret NFT prize almost a year ago (5 minute read)

One of the NFTs in the Grails drop last month was an image produced by Larva Labs. On closer inspection of the image, it contained a sequence of L shapes, which when decoded spelled out the message, 'SECRET IS IN THE PIG NUMBERS, LL'. After more investigation, it was discovered that the 64 jersey numbers on the Meebits collections spelled out an Ethereum private key that contained 0.025 ETH and a Meebit NFT. The image of the Larva Labs NFT is available in the thread.

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