GM Readers. Get ready for your daily dose of BitDegree insights š
Today's selection:
- š"Uptober" is Here
- š°ļøVenture Mondays
- š°Bite-Sized News
- šSelected Meme of The Day
"UPTOBER" HAS KICKED OFF
You know it's gonna be good when October Becomes "Uptober." I mean, right off the bat, Bitcoin has soared past $28,000.
Let's break down today's highlights! Here's a concise summary of what really matters.
- On the bright side, Bitcoin is the star, with its dominance surging compared to other coins in the market.
- VanEck has launched a futures-based ETH-ETF. Today, there might also be eight more launches of futures-based ETH-ETFs. Hence, Ethereum and even Solana are feeling fantastic!
Now, something about the not-so-bright side.
- While the crypto economy has grown over the past 7 days, NFT sales have declined for the sixth consecutive week. The total NFT sales volume for the week was $72.76 million, which is 9.91% lower than the previous week. However, NFTs remain the dark horse, and you'll discover something new in Venture Mondays!
- So far, the worst month of 2023, in terms of cryptocurrency-related exploits, was September. It saw a staggering $329.8 million stolen.
So, that's good for the balance. From Septembear to Uptober!
VENTURE MONDAYS
Web3 startup IYK, focused on creating digital experiences, has secured $16.8M in a Seed funding round. This investment was led by Andreessen Horowitz's a16z crypto and saw participation from notable entities such as Collab+Currency, Lattice Fund, 1kx, PTC Crypto (Palm Tree Crew), Synergis Capital, Coop Records, Gmoney, Erick Snowfro, and Justina Versano.
While the funding amount is significant and the investors involved are noteworthy, it's not immediately clear from the initial paragraph what the project's true mission is.
However, after digging a little deeper, we can shed more light on their objective. Their primary goal is to create tangible digital experiences, meaning integrating NFTs with physical goods. They are innovating to transform everyday items into dynamic experiences.
It may seem futuristic, but it has been operational for some time now. As of this writing, there have been 118,774 chipped items. Each chip comes with an integrated OAT/NFT to verify the authenticity of items, such as t-shirts or caps. This concept is even applicable to artworks or vinyl records. Despite the downturn in NFT values, the industry continues to innovate and evolve.
Decentralized oracle platform Supra raised $24M funding round from Coinbase Ventures, Animoca Brands, Republic Capital (ex Republic Labs), Hashed, Sound Ventures, HTX Ventures (ex Huobi Ventures), Razer, FiveT Fintech (ex Avaloq Ventures), Hypersphere, Galaxy Interactive, MARBLEX Corp., Hashkey Capital, UOB Venture Management, Valor Equity Partners, Prosus Ventures, Sublime Ventures, Shima Capital, BCW Group, No Limit Holdings (NLH), Republic Crypto, Signum Capital, SMO Capital.
Supra is a company dedicated to enhancing blockchain infrastructure. They offer rapid cross-chain oracle data feeds, bridging the gap between Web2 and Web3, ensuring enhanced performance for smart contracts.
SELECTED MEME OF THE DAY
