THIS WEEK IN NUMBERS Ethereum transaction fees have dropped to 2020 levels as trading volumes drop. AVAX and SOL lead other L1s in terms of annual price performance, while BNB is down the least since BTC’s all-time-high. The price of BTC fell ~85% from peak-to-trough in each of the last two major bear markets. Right now it’s down ~72% from its high, but if history repeats it would imply a low of just above $10K and another 50% drawdown from current levels. BTC’s outflow from exchanges hit an all-time-high last week. This is a historically bullish indicator, as it implies more BTC is being moved to cold storage. ⅓ of Ethereum nodes currently run on AWS, highlighting the need for decentralized hosting infrastructure.
🟣 Use of crypto to pay salaries in developing countries on the rise More and more companies in developing nations, particularly those with inflationary fiat currencies, are turning to crypto to pay their employees. This highlights one of blockchain’s most promising real-world use cases- remittances. According to a World Bank report in 2020, the average fee for a remittance is a staggering 6.5%. Cryptocurrencies present an opportunity to remove remittance fees entirely. 🟣 Tracking 3AC 🟣 Tracking Celsius 🟣 CPI report comes in at 9.1% Inflation is still on the rise as the US’ Consumer Price Index report reads an inflation rate of 9.1%, a 40-year high. The report has affected prices across markets.
🟣 Terra projects begin move to Polygon Over 48 projects previously hosted on Terra have begun to transition to Polygon, with $20M earmarked to help the transition. 🟣 74% of Latin Americans prefer businesses which accept crypto payments A new report by Ripple shows how Latin Americans enjoy crypto payments more than other regions. 🟣 Mastercard partners with Fasset Mastercard has partnered with Middle Eastern digital asset gateway, Fasset, to expand financial services in Indonesia. The partnership will increase financial inclusion in Indonesia, where there are currently 92 million unbanked people.
🟡 GameStop launches long-awaited NFT marketplace The marketplace hosts projects on the Ethereum network, as well as on Loopring. Currently the marketplace only hosts artwork, but has plans to become a player in the gaming industry. 🟡 OpenSea lays off 20% of employees OpenSea joins other major crypto firms as it downsizes its workforce by 20%. 🟡 NFL to offer NFT ticket stubs to over 100 games in 2022 The NFTs, which are minted on the Flow blockchain, are commemorative tickets for each game. This promotion is done through a partnership with Ticketmaster. 🟡 Coinbase set to premier Bill Murray’s biographical NFT Murray has partnered with Coinbase, theCHIVE, and Project Venkman to release a series of one-of-one NFTs. The NFTs contain advice, memories, anecdotes, observations, and more. 🟡 Court in the UK allows lawsuit via NFT airdrop The firm Giambrone and Partners were granted permission to serve legal proceedings to an anonymous individual via NFT airdrop. The anonymous person, as well as several crypto exchanges, are being sued over a loss of funds.
Magic Eden launches Magic Ventures Alongside the new venture arm, Magic Eden has expanded its gaming division, Eden Games, onboarding several key hires and new partnerships.
Axie Infinity Co-founder claims project is ‘healing’ as volumes surge 205% in Axie Infinity NFT sales Axie Infinity volume sales pump 205% over the past 7 days. Some of the contributing factors for the recent pump are Axie Infinity Land staking, the launch of Origin, and the relaunching of Ronin Bridge after the $600M hack.
Tencent shuts down their NFT platform amidst government policy changes NFT buyers are prohibited from selling their NFTs in private transactions after purchase, meaning there is no secondary market. Alibaba also launched an NFT platform in June, but later deleted all mentions of it from the internet.
Cryptopunk #4464 sells for over $2.6 million Despite the downturn in the market, this sale is tied for the fourth largest Cryptopunk sale of all time (in ETH pricing). This is the single largest NFT sale over the past 30 days. 🟢 Shanghai dedicates $1.5B to Metaverse development This financing aims to create 10 leading companies and 100 smaller firms in the industry. This fund will aim to encourage Metaverse use in public services and business offices. 🟢 Playboy has plans to launch ‘MetaMansion’ in The Sandbox The MetaMansion will host gaming, social, and programmed events. This builds off of Playboy’s first foray into NFTs, Rabbitars. 🟢 Disney announces metaverse accelerator programme Disney has announced six companies that are part of the programme, including Polygon. 🟢 HTC releases Desire 22 Pro — A metaverse smartphone with Ethereum and Polygon compatibility HTC jumps into web3 with its new phone, Desire 22 Pro. Desire 22 Pro is priced at $403 and is currently available in Taiwan, Japan, and across Europe. 🟢 A Movie Studio is being built in Sandbox Animoca Brands announces partnership with Planet Hollywood to create a movie studio themed experience in the Sandbox, Metathollywood. The goal of the partnership is to bridge the gap between movie fans, studios, and creators. 🟠 5ire announces $100M raise NFT Technologies portfolio company, 5ire, has announced a $100M Series A raise at a $1.5B valuation. 5ire adopts an innovative proof-of-benefit consensus mechanism, which is based on accelerating progress towards the UN SDGs. 🟠 Justin Sun ready to deploy $5B to help struggling crypto firms The TRON founder is making these bold claims despite TRON’s stablecoin USDD still trading at a discount, below $1M, which has led some to question Sun’s claims. 🟠 Lightspeed announces $7B raised over four funds The VC has also launched a crypto team, Lightspeed Faction. 🟠 Multicoin Capital announces new $430M crypto fund Multicoin aims to continue investing in startups that will increase web3’s adoption. 🟠 Gnosis Safe rebrands to Safe The EVM multisig wallet has separated from its infrastructure builder, Gnosis, following a community vote. The company has secured over $40B of assets. 🟠 Starkware confirms StarkNet token The zero-knowledge layer-2 blockchain’s token has been long-awaited. The token will be used for transaction fees, governance, and consensus. What’s a Rich Text element?
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
Static and dynamic content editing
A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!
How to customize formatting for each rich text
Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.