TLDR Crypto Daily Update 2022-08-10

Reddit tokens πŸͺ™, SBF critiques Coinbase earnings πŸ’°, Magic Eden BAYC marketplace πŸ’

πŸ“ˆ
Markets & Business

CreatorDAO is finally coming out of stealth and announcing our $20MM round (1 minute read)

CreatorDAO is a project that aims to become the web3 version of venture capital firm Andreessen Horowitz, but with a focus on content creators. Content creators who apply to the DAO will have access to mentorship, advice, and support from other DAO members. CreatorDAO recently raised $20 million in a seed funding round. Its investors include Andreessen Horowitz, Paris Hilton, and the Chainsmokers. CreatorDAO is still centralized and will be until the organization is set up with a core group of mentors.

Some thoughts on Coinbase's 2022Q2 earnings (2 minute read)

Coinbase's earnings are down, in line with the rest of the crypto market. In the last quarter, they likely had a real revenue of around $650 million and around $1.4 billion in core expenses, plus $400 million in impairment. The vast majority of its losses likely come from payroll and bonuses. Coinbase pays roughly $4 billion a year for its around 5,000 full-time employees.
πŸš€
Innovation & Launches

Reddit Taps Arbitrum Nova And FTX For Community Token (2 minute read)

Reddit is letting its communities issue Ethereum-based tokens known as Community Points to encourage engagement. It has selected Arbitrum Nova as its partner blockchain for the feature. Arbitrum Nova is a layer 2 blockchain aimed at gaming and social media. Reddit has also partnered with FTX so users can easily purchase ETH to pay for the transaction fees required to transfer Community Points. The new feature will first be available on the Fortnite and Cryptocurrency subreddits.

Magic Eden Wants to Build an ApeCoin NFT Marketplace Just for Bored Apes (5 minute read)

Magic Eden has unveiled a proposal to build a Bored Ape Yacht Club marketplace for the ApeCoin community. The marketplace would operate via the official ApeCoin website and be based on Magic Eden's technology. Bored Ape NFT holders would receive benefits such as lower trading fees. Magic Eden claims that it can deploy the marketplace in September if the proposal is passed.
πŸ’‘
Guides & Resources

Web3 development just got a whole lot easier for Web2 developers! (1 minute read)

The Near JavaScript Software Development Kit (JS SDK) allows developers to build fast, scalable, and user-friendly decentralized applications using JavaScript or TypeScript. It provides each contract with its own instance of a JavaScript engine running inside it. The Near JS SDK enables more than 20 million developers to contribute to the web3 space without learning a new language. JavaScript developers can set up a dApp in the same amount of time it takes to spin up a React app.

My TOP 10 picks to capitalise on Real Yield (6 minute read)

Real Yield is yield that is generated from real revenue, rather than revenue derived from token emissions. In 2021, many protocols offered amplified annual percentage rates to attract more users and increase their total value locked. This was possible due to aggressive emissions models designed to attract fast liquidity. The bear market has caused a shift to protocols that generate real yields. This Twitter thread presents 10 projects that generate yield through actual revenue generation.
πŸ¦„
Miscellaneous

Polygon to launch Web3 gaming platform (3 minute read)

Polygon and South Korean-based Neowiz have partnered to launch a web3 gaming platform called Intella X. Intella X will launch with two social casino games. It plans to launch more games and a profile picture NFT project in 2023. The platform is designed to distribute shares of all generated revenue back to the contributors of the ecosystem. Users can contribute in multiple ways, for example, by staking, providing liquidity, or playing games.

DeFi Protocol Curve.Finance Gets Hacked and $570K Is Stolen (1 minute read)

Hackers have stolen around $570,000 from Curve Finance. They changed the domain name system entry for the protocol, forwarding users to a malicious contract. The real contract remains uncompromised. Curve's operators quickly found the source of the problem and fixed it once it was reported. Users who have recently approved contracts on Curve are advised to revoke them immediately.

Keep Up With Crypto in Just 5 Minutes

Kepp Up With Crypto in Just 5 Minutes

Cut through the noise with our daily newsletter, get links and summaries of the newest innovations, tools, and launches in the crypto ecosystem

Join 120,000 readers for one daily email
⚑
Quick Links

Crypto and the US government are headed for a decisive showdown (17 minute read)

US regulators are fighting several legal battles that could end the days of the crypto free-for-all.

Someone Is Trolling Celebs by Sending ETH From Tornado Cash (2 minute read)

The transactions highlight the fact that it isn't possible to block incoming transfers on-chain.

It’s time for a new dawn, Nova is open to the public! (5 minute read)

Nova is a chain built using Arbitrum AnyTrust optimized for gaming and social applications.

Airdrop Strategy: TheKraken (4 minute read)

Sudoswap is planning to release a token and it will likely airdrop tokens to people who hold NFTs from its NFT automated market maker.

Ethereum Layer 2s Could Take Revenue From the Blockchain as They Become More Competitive (2 minute read)

Layer 2s could potentially handle the bulk of economic activity while Ethereum exists exclusively to store transaction data.

Keep Up With Crypto in Just 5 Minutes

Kepp Up With Crypto in Just 5 Minutes

Cut through the noise with our daily newsletter, get links and summaries of the newest innovations, tools, and launches in the crypto ecosystem

Join 120,000 readers for one daily email
Links
Sponsor
About
Contact
Privacy
Terms 
Disclaimer
TLDR Media, LLC
515 W 18th St. Unit 621
New York, NY, 10011
TLDR Media, LLC
515 W 18th St. Unit 621
New York, NY, 10011