TLDR Crypto Daily Update 2022-11-04

FTX backs Lens 🌿, Do Kwon flees to Europe 🏃, Andre Cronje returns

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Markets & Business

FTX Ventures bets on Web3 social media with investment in Aave’s Lens Protocol (2 minute read)

FTX Ventures recently invested in Lens Protocol, a social networking platform on Polygon that lets users create NFT profiles and own their data. A spokesperson confirmed that FTX was raising funding for the protocol, but they could not confirm the size or timing of the round's close. Several venture capital funds have invested in web3 social media this year, but it is yet to be seen whether the technology will gain widespread adoption.

Decentralized Storage System Arweave's Native Token Surges 60% on Meta Integration (1 minute read)

Meta is using Arweave's web3 platform to archive its creators' digital collectibles. The announcement caused Arweave's AR token to jump more than 60% and boosted its market cap to $838 million. AR is now the third-largest web3 token. Instagram users will be able to issue digital collectibles for their posts and store them on Arweave. Data cannot be altered after it is entered on Arweave.
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Innovation & Launches

Fidelity to open commission-free crypto trading to retail investors (1 minute read)

Fidelity, one of the largest brokerages in the world, is launching a commission-free crypto trading product for retail investors. An early-access waitlist is now available. Fidelity Crypto will allow investors to buy and sell bitcoin and ether. It will provide custodial services to users, who will be required to maintain a $1 account minimum. The platform will factor a 1% spread into every trade execution price.

Crypto Exchange Kraken Launches 'Gasless' NFT Marketplace (2 minute read)

Kraken has launched a beta version of Kraken NFT. The marketplace offers gasless transactions and an intuitive design. It is currently only open to some customers on the waitlist. Kraken NFT features an NFT aggregator that allows users to view and purchase NFTs listed on other marketplaces. Users can use over 200 cryptocurrencies and eight fiat currencies to buy NFTs. The marketplace will collect royalties on creators' behalf and distribute them once a collection's creator has been verified.
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Guides & Resources

Decentralizing Brand Partnerships (8 minute read)

Friends With Benefits DAO has partnered with Hennessy to launch Café 11. Café 11 is a reimagining of the cafe society of 1920s Paris. It involves a series of blockchain-enabled events at cultural fairs around the world. This article discusses FWB's decentralized partnership strategy to show how DAOs and companies can gain through partnerships. It aims to inspire more crypto-curious brands to directly support cultural production.

lens-use (GitHub Repo)

This repository contains React hooks for Lens Protocol. The hooks allow developers to authenticate against the Lens API, query the Lens API, write to Lens using the dispatcher or broadcaster, and perform various contract operations. It uses the currently known Polygon Mainnet Hub Proxy address by default.
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Miscellaneous

Cronje Rejoins Fantom and DeFi After Posting Essay on Crypto Winter (2 minute read)

Andre Cronje has returned to DeFi. He updated his LinkedIn profile to read 'Vice President of Memes at the Fantom Foundation'. Cronje served as a technical advisor to the Fantom Foundation for nearly four years. Fantom's total value locked has dropped 94% since Cronje's departure from DeFi in March.

South Korean Prosecutors Reveal Terra Co-founder Do Kwon is in Europe (2 minute read)

South Korean authorities have revealed that Terra co-founder Do Kwon is in Europe as an illegal immigrant. They claim that there is evidence that Kwon manipulated Terra's market price. Kwon's Korean passport is invalid but he is still said to be using a passport to travel through Europe. His exact whereabouts are still unknown.

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Quick Links

Alchemy Launches NFT Allowlist Platform Spearmint for Ethereum, Layer-2 Projects (4 minute read)

Spearmint is free to use and it allows creators to automate much of the allowlist creation process.

Introducing direct messaging with Lens API (2 minute read)

Users on Lenster can now send private and secure direct messages to each other through XMTP, a messaging protocol designed to bring secure communication to web3.

Why FTX passed on Twitter (1 minute read)

FTX passed on the Twitter deal because Elon Musk didn't want to do blockchain-based social media or blockchain wallets/payments.

SuperRare NFT Marketplace Launches RarePass for Exclusive Curated Art Drops (3 minute read)

RarePass holders will receive curated crypto art by some of the most prominent artists on the platform.

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