Weekly Highlights | Otherdeed NFT sales exceed $300 million; Optimism announces token issuance

Organized by: Linqi, Hu Tao, Chain Catcher

Important News

1. Forbes: Central African Republic Adopts Bitcoin as Legal Tender

On April 25, news from Forbes (Monaco) reported that the National Assembly of the Central African Republic has unanimously passed a bill, becoming the first country in Africa to adopt Bitcoin as a payment currency. It is reported that the bill was initiated and submitted by the Minister of Digital Economy, Postal Services, and Telecommunications, Gourna Zacko, and the Minister of Finance and Budget, Calixte Nganongo, establishing a legal framework for cryptocurrency regulation and designating Bitcoin as one of the official currencies of the country. (Source link)

2. Twitter Announces Acceptance of Musk's $44 Billion Acquisition Proposal, Deal to Close This Year

On April 26, Twitter announced that it has accepted the acquisition agreement from Tesla CEO Elon Musk. According to the agreement, Musk will acquire Twitter at a price of $54.2 per share, totaling approximately $44 billion. The transaction is expected to be completed in 2022, and after the deal closes, Twitter will become a privately held company.

Musk stated that he hopes to make Twitter better than ever by enhancing product features, making the algorithm open-source to increase trust, defeating spam bots, and verifying identities for all users.

Additionally, following the news of Twitter accepting Musk's acquisition proposal, the price of Dogecoin surged by about 27%. (Source link)

3. 55,000 Otherdeed NFTs Have All Been Minted, Sales Exceed $300 Million

On May 1, news from the Otherside official website and Ethscan data indicated that the 55,000 Otherdeed NFTs that started public sales at 9 AM today have all sold out, consuming approximately 62,423 ETH in gas fees, valued at about $170 million, accounting for nearly 79% of the total Ethereum gas fee consumption in nearly 3 hours. Each Otherside NFT was priced at 305 APE, and based on the current unit price of $19, the total sales amount to $318 million. Currently, the floor price for this NFT on Opensea is 6.35 ETH.

It is understood that Otherside is a metaverse project created by Yuga Labs, with a total supply of 200,000, of which 30,000 are allocated to BAYC and MAYC holders, 15,000 are allocated to contributors, and the remaining 100,000 will be sold in the secondary market later. (Source link)

4. Solana Mainnet Beta Cluster Successfully Restarted, Network Operators and DApps Will Resume Customer Service in the Coming Hours

On May 1, news from Solana Status's Twitter indicated that after the network failed to reach consensus and was interrupted for about 7 hours, the Solana mainnet Beta cluster was successfully restarted at 11 AM Beijing time, and network operators and DApps will resume customer service in the coming hours.

Previously, the account released a restart notice for the validator cluster, stating that if NFT minting bots continue to send large amounts of traffic, consider temporarily blocking Candy Machine transactions using iptables until the network stabilizes.

It is reported that around 5 AM Beijing time, the Solana mainnet went down due to a surge in transactions, with analysis indicating that NFT minting bots attempted to submit a record-breaking over 4 million transactions per second on the network, generating over 100 Gbps of network traffic, causing some nodes to go offline. (Source link)

5. Optimism to Issue Token OP and Announce Token Economics, 19% of Initial Supply for Airdrop

On April 27, the Ethereum scaling solution Optimism officially announced that it will issue the token OP and announce its token economics, with an initial total supply of 4,294,967,296 OP tokens, which will expand at a rate of 2% per year.

19% of the initial OP token supply is reserved for user airdrops, of which 5% will be distributed in Airdrop #1, with multiple users of Optimism and some active users on the Ethereum mainnet eligible for the airdrop (details can be found in this article), with a total of 264,000 addresses qualifying for the airdrop, averaging 813 tokens per address, with the snapshot taken on March 25, and an additional 14% will be distributed in future airdrops. Currently, users can check the specific airdrop amounts at this website, but it is not yet open for claiming. (Source link)

6. Li Ning Launches Bored Ape BAYC#4102 Merchandise and Hosts Offline Pop-Up Event

On April 25, news from Chinese Li Ning stated on social media that it has launched the "Li Ning Bored Ape Trend Sports Club" clothing series, themed around Bored Ape Yacht Club #4102, incorporating pixel style, street style, and other trendy elements. Meanwhile, Li Ning will launch a Bored Ape pop-up store offline from April 23 to May 4. (Source link)

7. Zhu Xiaohu Buys Bored Ape BAYC#9279 and Uses It as WeChat Avatar

On April 30, news from Weibo user Jerome_Loo reported that Zhu Xiaohu, managing partner of Jinsha River Ventures, purchased BAYC#9279, and his latest WeChat avatar displays BAYC#9279.

As a well-known venture capitalist in the internet field, Zhu Xiaohu's investment cases include well-known internet companies such as Didi, Ele.me, and Inke. (Source link)

8. Greenland Group Acquires BAYC #8302 and Uses It as NFT Image for Digital Strategy

On April 29, news from Greenland Group's "Greenland G Premium Club" public account stated that Greenland Group has officially acquired BAYC #8302 and will use it as the NFT image for its digital strategy. Greenland Group stated that it will build Greenland G-World in the future, using VR and AR technology to connect the virtual and real worlds, achieving seamless interaction between online and offline scenarios.

Greenland also stated that it will share the Bored Ape NFT image with supporters of Greenland Group, allowing everyone to have their first digital collectible through Greenland G-World, while also witnessing the launch of Greenland's digital transformation process.

According to Opensea data, the last transaction record for this NFT occurred on April 26, with a sale price of 140 ETH, valued at approximately $410,000, and the NFT has since undergone multiple transfer records. (Source link)

9. Bilibili to Issue Cheers UP Series NFT on Ethereum for Overseas Users

On April 28, news reported that Bilibili will issue the Cheers UP series NFT on Ethereum for overseas users, with a total of 10,000 NFTs, 233 of which are allocated to the project team, and the remaining 9,767 will be distributed through a lottery to verified wallets, with a minting price of 0.12 ETH. (Source link)

10. Smart Massager Brand "Beijing Relax" Acquires Bored Ape #1365

On April 30, news reported that the smart massager brand "Beijing Relax" announced that Bored Ape Yacht Club member #1365 has officially joined the Beijing Relax family. The project stated on Weibo that the number 1365 has a special meaning for Beijing Relax, hoping that everyone can go to bed early every day for 365 days a year.

Additionally, according to Opensea data, this NFT was recently traded for 179 ETH. (Source link)

11. OpenSea Announces Acquisition of NFT Market Aggregator Gem

On April 26, OpenSea announced the acquisition of NFT market aggregator Gem to improve user experience and invest in the future of professional communities. After the acquisition is completed, Gem will continue to operate independently as a separate product and brand.

It is reported that Gem allows users to purchase NFTs across multiple markets through a single, low-cost transaction and is known for its ease of collecting floor price NFTs and rarity-based collectibles ranking. (Source link)

12. NFT Lending Protocol JPEG'd to Launch on April 27, Initially Supporting Peer-to-Peer Pool Loans for Cryptopunks

On April 26, news reported that the NFT lending protocol JPEG'd will officially launch on April 27, initially supporting peer-to-peer pool loans for Cryptopunks, with a debt ceiling of $5 million, which will increase to $10 million after one week. The annual interest rate for borrowing the stablecoin PUSd is 2%, and debt liquidation will occur when the debt-to-equity ratio equals or exceeds 33%.

Subsequently, JPEG'd will also deploy EtherRock lending vaults and is currently waiting for Chainlink to deploy two new oracles for BAYC and Azukis, with plans to explore other NFT series in the future, such as Clone X, Mutant Ape Yacht Club, Moonbirds, etc. (Source link)

13. Fidelity Investments Plans to Allow Investors to Open Bitcoin Accounts in Their 401(k)

On April 26, news from The Wall Street Journal reported that Fidelity Investments plans to allow investors to open Bitcoin accounts in their 401(k). Later this year, the 23,000 companies using Fidelity to manage their retirement plans will have the option to add Bitcoin to their retirement savings menu.

It is reported that the 401(k) plan is a retirement benefit plan provided by American companies for employees, allowing employers to establish a tax-deferred retirement savings plan for employees, which can be invested in funds, stocks, and other assets. (Source link)

14. Telegram Supports In-App Purchases of Bitcoin and Toncoin

On April 29, news reported that Telegram has supported in-app purchases of Bitcoin and Toncoin (TON), allowing users to send and receive TON within the app or purchase Bitcoin through the "@wallet" bot feature.

The TON Foundation stated on Thursday that the bot feature has been used by 800,000 Telegram accounts, aiming to make sending TON as easy as sending a text message. The foundation stated, "We expect this feature to extend to consumer-to-business payments, allowing people to easily acquire goods and services by sending Toncoin through bots in the Telegram app."

Previously, the non-profit association TON Foundation, which includes participants in the TON blockchain ecosystem, stated that it has raised over $1 billion in donations from users to advance the development of its ecosystem. (Source link)

15. Zhao Changpeng: Binance May Establish a Regulated Entity in a G7 Country in Europe

On April 27, Binance founder and CEO Zhao Changpeng stated at the Financial Times Crypto and Digital Assets Summit in the UK that Binance may soon establish a regulated entity in a G7 country in Europe. Zhao stated that Binance already has a standard corporate structure and a holding company, and more information will be disclosed soon.

In previous days, Zhao mentioned in an interview with French media that Binance might establish its European headquarters in France. (Source link)

16. Coinlist to Conduct Ondo Finance Token Sale on May 13, Beijing Time

On April 29, Coinlist announced that it will conduct the Ondo Finance token sale on May 13, Beijing time, with a planned sale volume of 400 million tokens, each priced at $0.055, locked for 12 months starting from June 1, 2022, followed by a 6-month release period.

It is understood that Ondo Finance is a decentralized investment bank, with its core business serving and connecting various stakeholders in the emerging DeFi ecosystem, including DAOs, institutions, and retail. (Source link)

17. Coinbase Developers May Be Assisting ENS in Allowing DApps to Publish ENS Subdomains Off-Chain

On April 24, news reported that CroissantEth tweeted that Coinbase developers deployed the "CoinbaseResolver" smart contract, which, according to the source code, is an extension for ENS off-chain resolvers, allowing DApps to publish ENS subdomains off-chain, while these subdomains can still be accessed via Layer 1. (Source link)

18. PeckShield: DeFi Derivatives Protocol DEUS Finance Attacked, Hacker Profits Approximately $13.4 Million

On April 28, PeckShield stated on Twitter that the DeFi derivatives protocol DEUS Finance based on Fantom was attacked, with hackers profiting approximately $13.4 million, while the protocol's losses may be even greater. (Source link)

19. Rari Capital's Pool on Fuse Attacked, Hacker Profits Over $80 Million

On April 30, news reported that Rari Capital's pool on Fuse was attacked, with stolen funds amounting to approximately 28,380 ETH, worth about $80.34 million. The algorithmic stablecoin protocol Fei Protocol stated that it is willing to offer a $10 million bounty if the attacker returns the stolen funds. Previously, in December last year, Fei Protocol and Rari Capital announced a merger. (Source link)

Important Financing/Venture Capital News

1. Moonbirds Parent Company PROOF Raises $10 Million Investment from 776 Management

On April 26, news reported that Moonbirds parent company PROOF announced today that it has raised $10 million from 776 Management, a venture capital firm co-founded by Reddit co-founder Alexis Ohanian. PROOF founder Kevin Rose's own venture capital firm True Ventures also participated in this round of financing.

Kevin Rose is also a co-founder of Digg and a venture capitalist. PROOF was born as a podcast last year. In December last year, it launched PROOF Collective, a private community consisting of 1,000 members who access through NFT passes, enjoying benefits such as unlocking free NFT drops, access to future events, and other privileges. (Source link)

2. Decentralized Trading Infrastructure Provider 0x Labs Completes $70 Million Series B Financing, Led by Greylock Partners

On April 26, news reported that decentralized trading infrastructure provider 0x Labs completed a $70 million Series B financing, led by Greylock Partners, with participation from Pantera, Sound Ventures, A.Capital, Jump Capital, OpenSea, Coinbase, Brevan Howard, Reid Hoffman, and Jared Leto. Previously, 0x raised $24 million in the ZRX token sale in 2017.

It is understood that 0x Labs is headquartered in San Francisco, and its developed 0x protocol allows for peer-to-peer asset trading via blockchain. Earlier this year, it also launched NFT trading features. The NFT marketplace launched by Coinbase last week is technically supported by 0x. (Source link)

3. Crypto Investment Firm Asymmetric Seeks $1 Billion in Financing, Has Secured Investments from Founders of a16z, Solana, and Others

On April 27, news reported that Asymmetric, a new investment firm founded by former Microsoft strategy executive Joe McCann, is seeking $1 billion in financing and has already secured investments from a16z founders and partners Marc Andreessen and Chris Dixon, Solana co-founders Anatoly Yakovenko and Raj Gokal, CMS Holdings head and co-founder Dan Matuszewski, former Coinbase president Asiff Hirji, and founders of FTX, Circle Ventures, Tiger Global, MultiCoin Capital co-founder Kyle Samani, and executive partner Tushar Jain.

It is reported that Asymmetric will set up two investment tools: a venture capital fund and a liquidity fund, with the former responsible for token trading allocation and the latter using the most sophisticated algorithmic analysis tools for investment. The Asymmetric team includes former Brevan Howard portfolio manager Chris Cecere, Goldman Sachs alumni Bouchra Darwazah, and Drizly founder Brett Beller. (Source link)

4. Dragonfly Capital Raises $650 Million for Its Third Crypto Fund

On April 27, news from CoinDesk reported that Dragonfly Capital has raised $650 million for its third crypto fund, "Dragonfly Ventures III," which will focus on all stages of blockchain and crypto companies creating a "new digital economy," allowing for leading investments in later-stage companies. LPs include global investment giants Tiger Global, KKR, Sequoia China, and Invesco.

So far, Dragonfly Capital has invested nearly 60 companies through its funds launched in 2018 and 2021, which raised $100 million and $225 million, respectively. (Source link)

5. Crypto Wallet Argent Completes $40 Million Series B Financing, Led by Fabric Ventures and Metaplanet

On April 28, news reported that the cryptocurrency wallet Argent has completed $40 million in Series B financing, led by Fabric Ventures and Metaplanet, with participation from Paradigm, Index Ventures, Creandum, and strategic investors including StarkWare, Jump, and Animoca.

Since Argent announced the launch of its new second-layer accounts last year, it has attracted over 500,000 users. Argent allows customers to buy, trade, and earn cryptocurrencies with the click of a button, reducing transaction fees from hundreds of dollars to cents, without cumbersome steps like mnemonic phrases. (Source link)

6. Football Media Platform OneFootball Completes $300 Million Series D Financing, Led by Liberty City Ventures

On April 28, news reported that football media platform OneFootball announced the completion of $300 million in Series D financing, led by Liberty City Ventures, with participation from Animoca Brands, Dapper Labs, DAH Beteiligungs GmbH, Quiet Capital, RIT Capital Partners, Senator Investment Group, and Alsara Investment Group.

Additionally, OneFootball announced the establishment of OneFootball Labs in partnership with Liberty City Ventures. OneFootball Labs will enable clubs, leagues, and players to issue blockchain-based digital assets and provide fan-centric experiences. (Source link)

7. DAO Incubator SeeDAO Completes Series A Financing at a Valuation of $30 Million, Will Issue Tokens and Identity Credential NFTs

On April 29, news reported that the DAO incubator SeeDAO announced that it completed Series A financing at a valuation of $30 million at the end of January 2022, with the amount undisclosed. Investors include Hashkey Capital, Hash Global, Nervos, Tess Venture, Mask Network, ChainIDE, and Fire Phoenix Capital.

At the same time, SeeDAO also stated that it will issue tokens and identity credential NFTs, with a total token supply of 1 billion, 25% allocated to the initiator CryptoC, 15% for financing, and 60% for the community. The governance identity credential NFT of SeeDAO is named SeeDAO Genesis NFT, with a tentative total of 10,000 pieces, minted through member contributions, and holders enjoy governance rights and election rights in SeeDAO's internal affairs.

It is reported that SeeDAO is an organization exploring new production relationships for creators, currently forming 10 guilds including translation guilds, research and investment guilds, and product guilds, aiming to support the birth of quality projects from multiple aspects such as education, information, and events. (Source link)

8. USV Announces Completion of Fundraising for Two New Funds of $275 Million and $350 Million to Continue Investing in Web2 and Web3 Projects

On April 29, news reported that the well-known venture capital firm Union Square Ventures (USV) announced the completion of fundraising for two new funds, a $275 million core fund and a $350 million opportunity fund, to continue investing in Web2 and Web3 companies and projects.

It is reported that previous USV investments in crypto projects include WalletConnect, 3Box Labs, Dune Analytics, Mirror, Matter Labs, and Coinbase. (Source link)