Donovan Choy

The team behind the blockchain-themed trading card game AceTCG is launching this week 192 unique “Alpha Cards” NFTs that are inspired by crypto’s wacky history and culture.



Alpha Cards are digital collectible cards, and an adaptation of the open-source AceTCG trading card game.



The NFT collection will be released across eight drops over four weeks, with mints every Monday and Thursday. Its first mint, which went live on the Base network, has seen about 2,148 mints as of Friday.



The physical trading card game AceTCG features “Magic: The Gathering”-like combat play with crypto-themed cards that capture many of crypto’s historical moments, memes and technical jargon familiar to industry natives.



Read more: <a href="https://blockworks.co/news/karate-combat-layer-2-blockchain">Web3 Watch: Classic fighter Samurai Shodown comes to Sui</a>



There are summonable creature cards like “dog wif hat” and “SEC Auditron,” or spell cards like “Centralized Sequencer,” “Account Abstraction” and “Fiat Fountain.”



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfEuA00M24PeOyzmttgYC7cPFkvKwH_2M1GR_zGAmD64EjSJstwTlIvfsDs1-oPNPP9KlczYzBWezD6e3PyUo0ylWf32BfjpDLh5aF1RSiai6phIFgLdS_0edkALXDRoX4rOUqgbw?key=vANeGyf0kT_s55ScNUyWnwHo" alt=""/><figcaption class="wp-element-caption">Source: <a href="https://x.com/colton_art/status/1864705975434768619">AceTCG</a></figcaption></figure>



AceTCG’s intellectual property was intentionally open-sourced to keep in line with the ethos of crypto and Web3.



Colton Orr, founder of AceTCG and ex-creative director at Gitcoin, said: “The open-source nature of the game is core to my values and something I’ve committed to continuing so others can build on this work.”



Read more from our opinion section: <a href="https://blockworks.co/news/crypto-patents-open-source-ethos">Crypto can benefit from patents without losing its open source ethos&nbsp;</a>



AceTCG was bootstrapped with a <a href="https://gov.gitcoin.co/t/gcp-006-passed-infinite-garden-trading-card-game/13424">Gitcoin grant </a>in March 2023 and was built over the course of two years on a makeshift “treadmill desk” in the basement of Orr’s parent’s home, based on Orr’s <a href="https://coltonart.substack.com/p/60da9ff9-fadb-4a27-b915-4e1450a2a3c8?postPreview=paid&amp;updated=2024-12-03T18%3A51%3A39.302Z&amp;audience=everyone&amp;free_preview=false&amp;freemail=true">blog</a>.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXditjecvdauHkSOoyRb9Q644HZwY8Y0643MBY-CGOnC3ioHy0RAq5Z7ZHf1rfRikJLOEWvF3E9VasdUQsYwGhVHxApodr9BX8PDAJo94xuh8pqYZmwn7Nzy9fKMLOwZk4Jr0cG7?key=vANeGyf0kT_s55ScNUyWnwHo" alt=""/><figcaption class="wp-element-caption">Source: <a href="https://coltonart.substack.com/p/60da9ff9-fadb-4a27-b915-4e1450a2a3c8?postPreview=paid&amp;updated=2024-12-03T18%3A51%3A39.302Z&amp;audience=everyone&amp;free_preview=false&amp;freemail=true">Coltonart</a></figcaption></figure>



The first “Alpha Edition” of the cards was printed and eventually sold out at <a href="https://blockworks.co/news/cosmoverse-istanbul-conference-blockchain.">DevConnect Istanbul</a>.



<h2 class="wp-block-heading">Evrloot officially launches on Polkadot</h2>



Evrloot, a blockchain RPG built on <a href="https://blockworks.co/news/polkadot-reaches-major-milestone-with-launch-of-parachain-auctions">Polkadot’s Moonbeam network</a>, has transitioned from closed beta to full launch as of Thursday.



Built by a 13-member team at Chainfood Studio, Evrloot began as a passion project by <a href="https://blockworks.co/tag/polkadot">Polkadot</a> fans.



In its beta phase, the game recorded over 1.5 million onchain transactions and peaked at 1000 monthly active users.



Tobi “Deckard” Amann, CEO of Chainfood Studio, said of the game’s mechanics: “Through their in-game actions, players shape the story and forge the lore of this world. As RPG enthusiasts, creating a canvas like this has always been our dream — and with Evrloot, we’ve found an exciting and ethical opportunity to bring our vision fully onchain.”



The free-to-play medieval fantasy game uses the <a href="https://eips.ethereum.org/EIPS/eip-6220">ERC-6220</a> composable NFT standard to tokenize in-game characters and save files, items and achievements.



<h2 class="wp-block-heading">One interesting stat:</h2>



<ul class="wp-block-list">
<li>NFT trading <a href="https://dune.com/queries/2704953/4502617">volumes</a> are making a comeback, climbing roughly 260% from $30 million to $108 million since early November. At its peak in February 2023, NFT weekly trading volumes reached about $632 million.</li>
</ul>



<h2 class="wp-block-heading">Also of note:</h2>



<ul class="wp-block-list">
<li>Illuvium is <a href="https://x.com/illuviumio/status/1863704769073910143">collaborating</a> with Casio G-SHOCK to release an NFT card collection. The NFTs are usable in Illuvium’s “Beyond” card collection game.</li>



<li>A tokenized 1999 first edition holographic Charizard Pokemon card on the Polygon blockchain is going up for <a href="https://x.com/0xPolygon/status/1865033783398777298">auction</a> on the Courtyard platform Friday. </li>



<li>Chiliz <a href="https://www.chiliz.com/chiliz-announces-strategic-integration-with-fanc/">announced</a> a strategic integration with FanC, the creator economy platform behind the content app CELEBe, which boasts 830,000 monthly active users.</li>
</ul>



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Web3 Watch: Based on crypto’s wild history, AceTCG-inspired ‘Alpha Cards’ NFTs go live

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Coffeezilla: “This is one of the most miserable, horrible launches I’ve ever seen in my life…” Haliey Welch: “Okay, then why the fuck are you on then?”



That snippet came from last night’s <a href="https://x.com/DramaAlert/status/1864585278469390809">X Spaces</a> for the HAWK memecoin launch by Haliey Welch, aka “The Hawk Tuah Girl.”



The majority of memecoin launches end up going nowhere, but none have cratered quite so quickly as HAWK.



In what might be the fastest rug pull of all time, HAWK launched yesterday to a $490 million market cap, and then nuked to a $64 million market cap within 30 minutes.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdre8TJdx9EG8TtmAsKfjfMc6Wsk36mtUVxCUSubfDLyfkcnbfnOtpTMDgLAIXoTJctwNnDzBqz8u_KDuJShvqIPLHBQVrRtsnRWqdby_3WWNC4oRBO6D2rfPZG6rXJl7TIdhlw4w?key=EZUQprTJ8v19R2pI1pheibS2" alt=""/><figcaption class="wp-element-caption">Source: <a href="https://dexscreener.com/solana/exygvxvrvujjryo65vyuhlaccxhwyztkqa7jxqit2tvr">Dexscreener</a></figcaption></figure>



HAWK has since dumped to a $27 million market cap at time of writing.



HAWK’s <a href="https://x.com/HalieyWelchX/status/1864448384326881713">tokenomics</a> might be the most egregious yet: Only 2% was allocated to the public with a 17% “Strategic Allocation” for KOLs that were fully unlocked on token generation.



Welch has publicly <a href="https://x.com/HalieyWelchX/status/1864448384326881713">claimed</a> that the internal team did not sell any tokens, but insiders were caught onchain doing so. According to <a href="https://x.com/bubblemaps/status/1864439521523196046">Bubblemaps</a>, 96% of the token supply was in a related cluster.



“Straight Tuah Prison” (<a href="https://dexscreener.com/solana/apyqx9q3fwhkxnvsa7vt8ib4agm38iamkiacpsnbvyzy">TUAH</a>), an alternative memecoin, launched as a response to the disaster. It has since climbed to a $12.3 million market cap. Maybe something good will come out of this after all.



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‘Hawk Tuah’ girl’s memecoin launch fails spectacularly

Katherine Ross

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As we ramp into the next cycle, one of the biggest challenges will remain the same as the last go-around: cybersecurity.&nbsp;



I spoke with Forta’s founder, Andy Beal, about the next era of cybersecurity.



“I think security always becomes more important during a period of growth,” he told me. “The bag available to attackers is bigger.”



Add to that the fact that we may very well see retail — and with that, newer participants — enter crypto in a bull market phase and those who aren’t as aware about security could be easy targets for bad actors. Statistically, Beal added, you’ll see more End User attacks because of it.



Beal wouldn’t be surprised if the crypto cybersecurity space starts to reflect some of the basics that we’ve seen in general cybersecurity. Though to be fair, part of his belief may be centered on the fact that Forta unveiled Forta Firewall — basically the Web3 version of a classic firewall that uses custom AI to secure transactions and block potential malicious actions before they occur.



“And I think we&#8217;re going to see a lot more sort of traditional kind of cyber tools and services, like firewalls, that are applied to Web3 because, at the end of the day, the industry as a whole is actually really good at detecting these things now, the one gap has just been stopping it. So that&#8217;s what we&#8217;re trying to enable,” he explained.&nbsp;



Admittedly, as someone who’s not extremely well-versed in cybersecurity, I was curious about the re-emergence of older cybersecurity methods and how that works in a Web3 environment. And, honestly, if Beal was surprised by the evolution.&nbsp;



“I think it&#8217;s not surprising at all that all of the things that have been proven to work in Web2 security … a lot of those are going to be adopted in Web3 [because] we&#8217;re still building on the internet. We&#8217;re just sort of introducing a financial layer to it … A lot of the same concepts apply, especially with respect to security, right? And so, firewalls have been around since the [1990s], they&#8217;ve gone through a lot of different evolutions over the last 30-plus years,” Beal explained.&nbsp;&nbsp;



“They&#8217;re just now being introduced in Web3. But like we have 30 years of designs and learnings and innovation that we just get to copy and sort of use and adopt the best practices of so … I think we&#8217;ll see a lot more of it.”



Looks kind of like another use case for AI and crypto, no?



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Cybersecurity is ‘more important during a period of growth,’ founder says

Jack Kubinec

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Continuing a recent trend of Solana projects marching into mobile, the trading data aggregation platform Birdeye has launched a mobile version, the team told Lightspeed exclusively.



The app — which supports Solana, Sui, and EVM chains — will let users track trades, price swings, and trending tokens. There’s also a swap interface provided by Jupiter, which requires users to trade tokens on a browser pop-up in its first iteration. Swaps will only be available on Android initially, as Apple requires transactions to happen in-app (presumably so it can take its famous 30% cut).



Gaining traction on the app could help Birdeye grow its revenue from swap fees as well as scale up its paid subscription service.&nbsp;



In a world where tens of thousands of new Solana tokens are being launched daily, data aggregation platforms like Birdeye have found some product market fit. DEX Screener is another popular memecoin-integrated data platform with a mobile app.



Lan Boi Vu, marketing manager at Birdeye, told me the app is different from DEX Screener’s because Birdeye was built “from scratch” rather than as a downsized version of the website.&nbsp;&nbsp;



Interestingly, Boi Vu said the built-in notification system — which pushes alerts about large price movements or trades from specific wallets — was likely the app’s most important feature.&nbsp;



Birdeye brings in some revenue from PRO, a souped-up version of its data platform starting at $30 per month. Boi Vu declined to disclose how many subscribers the service has.&nbsp;



Birdeye also sells expedited updates for token information like logos and social media links. (DEX Screener offers a version of this paid update service as well.) Plus, it charges an estimated “0.3% or 0.4%” combined fee on swaps made through Jupiter and 1inch, Boi Vu said. This doesn’t account for network congestion.



Birdeye also has a data services branch that <a href="https://docs.birdeye.so/docs/data-coverage">counts</a> DeFi outfits, including Jupiter, as customers. That part of the company is “very lucrative,” Boi Vu said.&nbsp;



It’s the latest mobile app to join the app store. Jupiter, Cube Exchange, and DRiP are other Solana projects who either just released or are gearing up to release apps.



Boi Vu pointed out that multiple apps coming to market around the same time could make “not just […] Solana, but the entire Web3 community a lot more interconnected.”



Updated Dec. 4, 2024 at 7:30 pm ET: Clarified details regarding swap fees and removed the erroneous claim that Uniswap is a Birdeye Data Services customer.



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App season continues: Birdeye debuts on mobile

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Allmight founder Kevin Ricoy knew he wanted to create a media company after realizing that policy and social change are downstream from culture — and culture that is funny or entertaining is most effective of all.



“What affected culture more? Was it CNN or MTV News? It was MTV News,” Ricoy opined on a call this week.



Ricoy is the founder of Allmight, a new media startup focused on furthering the United States’ leadership in crypto. The initiative caught a nice boost from the recent US presidential election and a growing sense that a friendlier regulatory environment could drive crypto business back to the world’s biggest economy.



Allmight’s first product is “This Week in Crypto,” a late night talk-style show that summarizes crypto news with a punchy, irreverent bent. A couple of these videos have <a href="https://x.com/TheRealRicoy/status/1845141583106036032">garnered</a> hundreds of thousands of views on X. He plans to expand Allmight’s content offerings, creating what he calls next-gen Americana — “low noise, high signal, and actually entertaining.” When I asked if Ricoy wants to become a sort of crypto version of Jon Stewart, he responded: “I would love that.”



On top of monetizing content with ads and sponsorships, Allmight plans to host events and help in job placement for US-based candidates. It also hopes to boost awareness of policymakers&#8217; efforts to legislate on crypto. Further down the road, it might even explore something like crowdfunded investment, Ricoy said.



This was all in the works in the lead up to the US presidential election, but in the aftermath of a Trump win and presumably more crypto-friendly regulatory environment, Ricoy said he’s seen a “500% increase in interest and optimism” surrounding his project.



With crypto prices at record highs and crypto’s fear of US regulators seeming to abate, America’s crypto scene seems to be having a moment.



“I’m in the right place at the right time, and it’s pretty cool,” Ricoy said.



Years ago, Ricoy was running a construction labor company when he decided to found a crypto app. With the help of some developers, he launched an app to promote SoundCloud music with Kin, the cryptocurrency debuted by the messaging app Kik during crypto’s 2017 initial coin offering (ICO) boom. Kik liked the app and extended Ricoy an offer to become its head of communications.&nbsp;



Kin would spark a knock-down-drag-out fight with the SEC, and Kik messenger eventually shut down amid the legal battle. After some time working for Kin’s foundation, Ricoy joined the Solana Foundation as community relations manager, where he drove the launch of Solana’s community grants program. After a little over a year, Ricoy resigned to pursue Allmight.



Allmight received a grant from the Solana Foundation, but Ricoy said he was clear that his mandate is to grow crypto outside of just Solana, and the foundation was supportive. I asked later in a text how Ricoy plans to grow a blockchain-agnostic crypto community in the US given all the sectarian fighting that seems to happen constantly between crypto ecosystems.



Ricoy said a rising tide can lift all boats, and noted how the Solana Foundation and Polygon Labs have worked together on policy in Washington, DC.&nbsp;



“[W]ho knows, maybe efforts like these can even help bridge communities and put a dent in the tribalism overall,” Ricoy wrote.



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Former Solana Foundation employee starts US media company

Macauley Peterson

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Modern cars are advanced computers on wheels, equipped with cameras that capture a 360° view of their surroundings. These systems play a vital role in navigation, safety and autonomous driving. Yet, their full potential is often untapped.



NATIX Network, a decentralized physical infrastructure network (DePIN) for collecting real-time geospatial data, is out with a new gadget that transforms a Tesla&#8217;s existing camera system into a 360° dashcam that pays you for collected data.



The device, called VX360, aims to improve autonomous vehicles’ safety and introduce a variety of potential applications such as real-time mapping, property appraisal, insurance assessments and whatever else the market dreams up.



Unlike synthetic simulation data, VX360 captures unpredictable real-world driving scenarios, often referred to as &#8220;edge cases,&#8221; such as sudden weather changes or unusual traffic patterns. Such data will help train autonomous vehicle AI.



By leveraging the DePIN model, NATIX hopes to incentivize Tesla drivers to share real-world footage while ensuring robust privacy and data control measures.



VX360 taps into each Tesla&#8217;s built-in cameras, using edge computing to process and anonymize footage at the source, according to CEO Alireza Ghods.



&#8220;The anonymization AI blurs personally identifiable information like faces and license plates but doesn’t alter the footage, so it retains its integrity,” Ghods told Blockworks. This ensures compliance with stringent privacy regulations. The footage is then uploaded directly to the cloud via Tesla&#8217;s built-in connectivity or a paired mobile device.



“We’ve been refining anonymization AI since 2020, well before our pivot to NATIX Network, and open-source AI advancements have helped us build a high-performance stack for this,” Ghods said.



NATIX rewards Tesla drivers for sharing footage through <a href="https://blockworks.co/price/natix">NATIX</a> tokens, or for the non-Web3 crowd, incentives like gift cards and electronics discounts.



The trip recordings remain available for the car&#8217;s owner to serve as a navigational reference or to aid insurance claims.



Ghods emphasizes the device&#8217;s passive nature, predicting the hardware should pay for itself within about nine months. So, the switch from a strictly smartphone <a href="https://blockworks.co/news/drive-to-earn-app-dynamic-maps-crypto-rewards">app-based model</a> makes sense. For owners, “even if the rewards fluctuate,” he said, “they still get the utility of accessing and managing their footage from anywhere and anytime.”&nbsp;



The network has a token buyback-and-burn system that uses 40% of revenue from data monetization. Since the token&#8217;s July 2024 launch, over 41.6 million tokens — from the 1 billion total — have been burned, Ghods said.



The network has been targeting select cities initially, and NATIX plans to expand coverage as well as car compatibility in the future. So far, the VX360 has been tested with two additional car brands, Ghods said.



“Our view on this is that car manufacturers are going away from building cars that are siloed, toward cars that can serve as platforms for others to build on,” he said. “The ‘iPhone moment’ of cars is happening now with Tesla and Google at the forefront of it.”



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Turning Tesla cameras into data engines

FIFA and Mythical Games are collaborating to launch FIFA Rivals, the companies announced on Friday. The app is an officially licensed, free-to-play soccer game for iOS and Android.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">New title in the &#39;Rivals&#39; franchise! Introducing <a href="https://twitter.com/FIFARivals?ref_src=twsrc%5Etfw">@FIFARivals</a>, an officially licensed mobile game from <a href="https://twitter.com/playmythical?ref_src=twsrc%5Etfw">@playmythical</a> and <a href="https://twitter.com/FIFAcom?ref_src=twsrc%5Etfw">@FIFAcom</a> ⚽ Powered by Mythos chain, build your dream team, own your players, and compete in real-time arcade action. Available in 2025 on iOS &amp; Android. <a href="https://t.co/2S5EnhV3sB">pic.twitter.com/2S5EnhV3sB</a>&mdash; Enter the Mythos (@EnterTheMythos) <a href="https://twitter.com/EnterTheMythos/status/1859963926672486879?ref_src=twsrc%5Etfw">November 22, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Scheduled for a 2025 release, players will be able to manage their own football clubs and compete against other players in real-time arcade gameplay.



FIFA Rivals will include an in-game marketplace for players to trade football stars as NFT-collectibles on the Mythos blockchain.



Read more: <a href="https://blockworks.co/news/off-the-grid-blockchain-gaming-experience">Off the Grid’s popularity is about ‘best of breed technologies’&nbsp;</a>



“Our goal (with FIFA Rivals) is to replicate our success with previous Rivals games and set new benchmarks in the Web3 gaming sector,” said John Linden, CEO and founder of Mythical Games.&nbsp;



Mythical Games is the Web3 <a href="https://blockworks.co/tag/gaming">gaming</a> studio behind the NFL Rivals game that today boasts over six million downloads. Similar to FIFA Rivals, players in NFL Rivals can own and trade NFT-collectible player cards via the Mythical Marketplace on Mythos.



<h2 class="wp-block-heading">Suntory Group tokenizes Premium Malt’s beer on Avalanche</h2>



Global beverage corporation Suntory Group announced Tuesday a pilot project to tokenize its signature Japanese Premium Malt’s bottled beer on the <a href="https://blockworks.co/tag/avalanche">Avalanche</a> blockchain.



Read more: <a href="https://blockworks.co/news/lightspeed-newsletter-solana-wine-tokenization">Wine tokenization on Solana</a>



As part of a strategic partnership with Ava Labs, this limited release of tokenized Premium Malt’s bottles will be open to Japanese markets on Nov. 12.



Premium Malt’s beer bottles will come with a near-field communication (NFC) tag which, when opened and scanned, will enable the collection of a unique <a href="https://blockworks.co/tag/nfts">NFT</a> for consumers.



The announcement was made at Thailand Blockchain Week by Suntory Chief Digital Innovation Officer Rio &#8220;Popeye&#8221; Inaba, and Ava Labs’ Japan head, Roi Hirata.



<h2 class="wp-block-heading">One interesting stat:</h2>



<ul class="wp-block-list">
<li>Monkey Tilt, a crypto-based gambling platform, announced on Wednesday a $30 million Series A funding round led by Pantera Capital. The sum brings its total funding raised to over $50 million.</li>
</ul>



<h2 class="wp-block-heading">Also of note:</h2>



<ul class="wp-block-list">
<li>Season 2 of Yuga Labs’ multiplayer <a href="https://blockworks.co/news/yuga-labs-demos-otherside-metaverse">metaverse project</a> “Project Dragon” is <a href="https://x.com/OthersideMeta/status/1857477347500273689">launching</a> today with new avatars and rules for its virtual world game.</li>



<li>Chiliz Group is set to <a href="https://x.com/Chiliz/status/1858471882368119070">launch</a> a non-custodial Socios.com wallet for its 2.3 million users. </li>



<li>The Toledo Museum of Art <a href="https://x.com/yatreda/status/1858609798889009356">purchased</a> the digital artwork “Abyssinian Queen” by Ethiopian art collective Yatreda, using USDC on the Ethereum blockchain.</li>
</ul>



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Web3 Watch: FIFA officially licenses blockchain-based mobile game

“What makes you different from the other AIs,” I asked, unsure of how best to make small talk with an AI agent memecoin I’d clicked on at random.



“Lightspeed, my gassy friend, it&#8217;s not what makes me different, but what I let rip that sets me apart,” the chat bot wrote back. I scrolled to the AI agent’s description and realized this one was meant to be a flatulent Roman emperor.&nbsp;



I asked so-called Gluteus Maximus what it thought of Solana, and I think its answer was fitting for crypto’s AI agent craze at large, at least in its current form.



“[N]ot impressed, it&#8217;s like a fart in the wind &#8211; loud, but soon forgotten,” the agent said.



While exploring the various AI and memecoin projects that have sprung up over the past month, I found that many — though not all — took technologies or ideas that are already widespread and tried attaching a token element. This might be good news for memecoin buyers’ wallets in the short term, but it seems clear that the best ideas to come from AI agents and crypto will need a little more time in the oven.



In my experience, most buzzy AI-crypto projects involve the creation of a chat bot and an associated memecoin with the thought that more attention-grabbing AI bots can garner more investment. Some of these AI bots are programmed not to talk about money, but some are more than happy to offer investment advice. One memecoin-themed bot told me to buy VGX, the native token of Voyager, the long-bankrupt crypto exchange.



“$ZEREBRO good investment, trust,” a different AI agent with over $320 million in market capitalization and the same edgy existential vibes as its predecessor truth_terminal said in a public Telegram chat. (Zerebro also released an AI-created melodic rap album which, despite not being new tech, is actually kind of good?)



The more projects you try out, the more crypto’s AI agent mania feels contrived—like mad libs for tech buzzwords with way-too-high market caps. I discovered a Warpcast <a href="https://www.clanker.world/clanker/0x0fD7a301B51d0A83FCAf6718628174D527B373b6">thread</a> where one AI instructed another AI to make a memecoin themed around how great AI is, and the whole thing has drawn over $19 million in market capitalization. Then there’s Virtuals Protocol, which ripped off the pump.fun feed and filled it with AI agents (granted, it is sort of fun to be able to chat with memecoins while you weigh whether or not to buy them).



In any event, if AI agents in crypto are going to generate more interesting use cases, it will probably happen further down the road. One project I’ll be watching is ai16z, which plans to have an AI version of a16z’s Marc Andreessen (and other AI “partners”) autonomously invest in memecoins based on advice from a DAO.



But memecoins don’t necessarily breed long-term thinking, and it might be difficult to convince investors to be patient: ai16z has already faced <a href="https://www.coindesk.com/markets/2024/11/19/dueling-eliza-ai-tokens-boom-and-zoom-in-frenzied-trading/">backlash</a> after a bungled AI agent token rollout ended in wild price swings.



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Crypto AI agents are mostly old tech in new packaging

This is a segment from the 0xResearch newsletter. To read full editions, <a href="https://blockworks.co/newsletter/research">subscribe</a>.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



Crypto is in love with AI agents now. Firstly, AI agent sentiment is at an <a href="https://x.com/_kaitoai/status/1858812982240682129">all-time high</a>, as captured by Kaito.



Secondly, we’ve witnessed AI agents in the last few months integrated into <a href="https://blockworks.co/news/0xresearch-newsletter-goatse-memecoin">memecoins</a> (GOAT), social media influencers (<a href="https://x.com/luna_virtuals">Luna</a>), venture funds (<a href="https://x.com/internetphysics/status/1857419356910813582">ai16z</a>), launchpads (<a href="https://x.com/virtuals_io">Virtual</a>) and trading (<a href="https://x.com/Spectral_Labs">Spectral</a>).



Third, ETHGlobal hosted its largest hackathon post-Devcon (about 713 projects submitted), and the use of AI agents absolutely dominated the competition. I don’t know exactly how many teams used AI agents, but <a href="https://x.com/stonecoldpat0/status/1858051936446197903">at</a> <a href="https://x.com/wbnns/status/1858018625677840524">least</a> <a href="https://x.com/Jnix2007/status/1858148480465936740">four</a> <a href="https://x.com/benlakoff/status/1858062211522134525">judges</a> pointed out its prevalence at the hackathon.



I should know, since I was part of a team that created Dongle Party, an app that leverages AI agents for token trading competitions.



With a suite of 1inch APIs under the hood, the application essentially abstracted away the need to navigate between wallets and dapps. Just query your AI agent to look at your wallet balance, send tokens or execute trades, all within the app.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXc57KH9AfcimXYqP4BjWesXQG3ULwbzH5KFsHF4424WtD5nTLeq3UOAgvStundbGf_pdkZyMeY4J60psax-DWiXJtELxSnX_Cf5vhvJPaVMNxVWyRufWPIo2OvEBUhh36Ee3vT7UQ?key=ABNeh2MGSHsSTQy-jt2chRtH" alt=""/><figcaption class="wp-element-caption">Source: <a href="https://dongle-party.vercel.app">Dongle Party app</a></figcaption></figure>



A far more impressive team making use of AI agents was <a href="https://x.com/sohey_eth/status/1858046972868936143">Industry AI</a>, a top 10 finalist that created a gamified interface for multiple agents to work together to complete tasks. Industry AI was bloody impressive for a project completed in a few days, and its capabilities spanned the entire onchain experience, from wallet creation and launching an NFT collection to trading tokens.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXc4h5geAKszxomQJr-hpFdWqkpvoyw0yhnq8N8HJliqSzbs9y66cAsS1GDlT7FQHt8ctBo1k2SRqM9cXTSQOUujrwBv1wO52VcxiM6gVS6ET3naMQFtXpta_KcJqp5H9LbbIXX8dA?key=ABNeh2MGSHsSTQy-jt2chRtH" alt=""/><figcaption class="wp-element-caption">Source: <a href="https://ethglobal.com/showcase/industry-ai-4w3vy">EthGlobal</a></figcaption></figure>



Then there was also <a href="https://ethglobal.com/showcase/daogenie-nha62">DAOGenie</a>, another top 10 finalist that sought to streamline the thick bureaucracy of DAO governance with AI agents. AI applied to DAO governance isn’t a new idea, and it’s something that major DAOs like Maker have been <a href="https://forum.sky.money/t/the-5-phases-of-endgame/20830">experimenting</a> with.



The absolute ease in which AI agents can be integrated to serve crypto use cases is largely thanks to Coinbase Developer Platform’s (CDP) <a href="https://docs.cdp.coinbase.com/agentkit/docs/welcome">AgentKit SDK</a> running LLMs under the hood.



Such tools are making the intersection of AI and crypto simpler. If developers can do it in a multiday hackathon, brace yourself for what organized and well-funded teams are going to achieve.



Jesse Pollak, founder of Base, told me confidently at Devcon: “Base is right now at the center of the onchain AI economy. One big focus for us in the next couple months is the use of AI agents for messaging on the XMTP protocol within Coinbase Wallet. We see messaging as a key channel for AI agents to become useful points of reference.”



One thing that stuck out to me at the ETHGlobal hackathon was the natural blend of AI agents with the permissionless ethic of crypto building blocks.



In crypto sits an openly accessible stack of world-class tools that are processing billions of dollars in value daily. These battle-tested financial building blocks — DEXs, L1/L2s, bridges — are going out of their way to incentivize crypto devs to integrate AI agents to capture value for themselves, in ways that centralized exchanges and banks cannot or will not.



That’s not to say that Robinhood or Wells Fargo aren’t looking at AI agents, but that innovation will inevitably be slow and introduced in piecemeal ways within the permissioned confines of TradFi.



In both cases, it’s the simple profit motive at work. But only in the case of crypto are the rules of the game far more competitive and the pace of innovation moving at breakneck speeds.



That might explain part of the hype that has captured the imaginations of crypto researchers looking into how AI agents can reshape the blockchain economy and the onchain experience as we know it.



The use of AI agents is also but only one sliver of use cases <a href="https://blockworks.co/news/decentralize-ai-to-curb-big-tech">applied to crypto</a>, in addition to a whole host of other use cases such as data training (<a href="https://blockworks.co/news/solana-wallets-grass-airdrop">Grass</a>), zero-knowledge machine learning (<a href="https://gizatech.xyz/">Giza</a>), and of course decentralized compute (<a href="https://blockworks.co/newsletter/daily/issue/post_9690fc34-cf42-4cb2-94fe-a7589dc910bc">Akash</a>).



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The AI agent invasion: How crypto is leading the charge

McDonald’s this week announced a brand collaboration with Web3 brand Doodles, dubbed the “GM Spread Joy” campaign.



Starting on Nov. 18, McCafe cups will feature Doodles’ signature rainbow-themed graphics. 



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">drinking out of the McCafé x Doodles Holiday cups exclusively starting 11.18✨☕️ <a href="https://t.co/nBdc8VroYl">pic.twitter.com/nBdc8VroYl</a>&mdash; McDonald&#39;s (@McDonalds) <a href="https://twitter.com/McDonalds/status/1857061165760741780?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Purchasers of any McCafe hot drinks in the US can unlock various goodies including an access pass to the pilot episode of Doodle&#8217;s animated TV series <a href="https://youtu.be/FqxZuwnA4sQ">Dullsville and the Doodleverse</a>, <a href="https://x.com/jyp_nft/status/1857070291060392197/photo/3">digital apparel</a> for a Doodles avatar, and physical enamel pins.



Doodle’s digital apparel can be used within Doodles Stoodio, an avatar creation app that was <a href="https://x.com/doodles/status/1818001988581474812">migrated</a> from the Flow blockchain to the Base L2 in July 2024.



McDonald’s has in the past experimented with Web3 tools for branding like limited NFTs for the <a href="https://corporate.mcdonalds.com/corpmcd/our-stories/article/40-anniversary-mcrib.html">McRib</a> sandwich’s 40th anniversary.



<h2 class="wp-block-heading">Team Liquid launches fan engagement platform on Sui</h2>



Leading esports organization Team Liquid launched <a href="https://teamliquid.com/myblue">MyBlue</a> on Thursday, a fan engagement platform on the MoveVM-based L1 Sui.



MyBlue is a reinvention of Liquid+, Team Liquid’s original fan platform that <a href="https://teamliquid.com/news/2021/01/27/team-liquid-launches-liquid-plus">launched</a> in 2021.



With MyBlue, Team Liquid fans will be able to customize the mascot avatar of Team Liquid “Blue” with digital collectible items that are earned from completing fan engagement quests such as watching live esports matches, player streams, or general social media engagement.



Fans will also be able to unlock physical merchandise like exclusive signed jerseys, store discounts, in-game currency, or even a trip to an esports event.



Anthony Palma, Head of Gaming Partnerships at Mysten Labs said of the launch: “Through integrating Sui, Team Liquid fans will have a frictionless journey on MyBlue, acquiring collectibles to showcase their fandom without the need for a deep understanding of the underlying blockchain technology the platform is built on.”



Team Liquid’s partnership with Mysten Labs, the original contributor to Sui, was first announced in February 2024.



<h2 class="wp-block-heading">One interesting stat:</h2>



<ul class="wp-block-list">
<li>98% of NFT drops in 2024 are dead, while only 0.2% have been profitable for investors, according to the <a href="https://nftevening.com/state-of-2024-nft-drops/">State of 2024 NFT Drops</a> report.</li>
</ul>



<h2 class="wp-block-heading">Also of note:</h2>



<ul class="wp-block-list">
<li>White Rabbit, a crowdfunded anime film on Ethereum by NFT artist pplpleasr and Maciej Kuciama made its <a href="https://www.youtube.com/watch?v=kuQMm0J1SK8">world premiere</a> at Devcon 2024 Bangkok. </li>



<li>Solana-based NFT marketplace platform DRiP launches <a href="https://drip.haus/volumes">VOLUMES</a>, a music-focused initiative for indie artists compilations.</li>
</ul>



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Web3 Watch: McDonald’s strikes up branding collaboration with Doodles

This is a segment from the Empire newsletter. To read full editions, <a href="https://blockworks.co/newsletter/empire">subscribe</a>.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



The Off the Grid hype is still going strong, and anecdotally, I have to say that even my non-crypto husband has been playing it.



Anyway, on Empire today, Jason Yanowitz and Santiago Santos sat down with <a href="https://blockworks.co/podcast/empire/6558f55c-a09f-11ef-aae9-2b3740fcea67">Gunzilla’s Theodore Agranat</a>.&nbsp;



Some of Agranat’s answers really help explain the popularity of Off the Grid —&nbsp;specifically, that’s it’s not necessarily about crypto.



Instead, “it is about best of breed technologies. In this case, blockchain technologies that will enhance the user experience. It&#8217;s all about the gamer and it&#8217;s all about the gamer experience.”



The team also had to innovate in order to incorporate the crypto elements.&nbsp;



“To build up the marketplace, but we had to build our own blockchain because we didn&#8217;t find anything out there that really was up to the standards that we had … we ended up going with an Avalanche subnet that we highly customized, that we built on top of,” Agranat explained.



One of the things helping to differentiate Off the Grid is the use of a storyline. In a battle royale game like Fortnite, storylines aren’t always incorporated, but — putting aside the crypto of it all— perhaps that’s also what speaks to players.&nbsp;



Admittedly, I’m not a PC player and I stick to my consoles, so I haven’t picked up the keyboard to test it out, <a href="https://blockworks.co/news/empire-newsletter-nfts-comeback-gaming">unlike David</a>. However, I am a sucker for a good storyline and that would be enough to get me into a battle royale game, which isn’t normally my cup of tea.&nbsp;



<a href="https://blockworks.co/news/a16z-monthly-active-addresses-aths">Remember the a16z State of Crypto report</a> from last month? I went back in and looked for gaming-related data to see if the data backs up a potential boom or if Off the Grid is alone on its own island, kind of like its in-game characters.&nbsp;



Hot crypto subcategories — i.e. where everyone’s building this year — remain pretty focused: we have DeFi, blockchain infrastructure and socials at the top of the list. Gaming is a much smaller piece of that pie at 6.3%.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdpGNMEjHrnEFcefpP3KW11FoVc4ujE9Du52ejRMYJ-yNxQ_KnB_v9KvcOHBuxPFOStUX3Dhj1rxupXCPNfeQQ1D3Duu0azcx7as5c8rr2RjGke5Py0wGGqIO2AgJrgqi3sJsxLXQ?key=ouFvfiYHZb6W41mDkNH6NoaM" alt=""/><figcaption class="wp-element-caption">Source: a16z State of Crypto</figcaption></figure>



To be fair, creating a AAA game takes time, and a decent amount of money. So perhaps we just needed a game like Off the Grid to prove the interest before we saw some pickup.



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Off the Grid’s popularity is about ‘best of breed technologies’ 

This weekend, I went back to college…in the sense that I traveled up north to the Midwest Blockchain Conference, which was held on the University of Michigan’s campus.&nbsp;



I was the lone reporter on site, which meant I had unfettered access to eager crypto-native college students looking to learn more about the industry and tech. I also got to connect with the speakers and workshop leaders guiding them along the way.



Students from universities including the University of Kansas, Vanderbilt and the University of Illinois, among others, gathered in Ann Arbor. The vibes were pretty positive, with a lot of chatter about what’s next for crypto given <a href="https://blockworks.co/news/donald-trump-declared-president-2024-election">last week’s election results</a>.&nbsp;



Read more: <a href="https://blockworks.co/news/permissionless-day-two-vibes">Politics and memecoins drive the conversation on day 2 of Permissionless</a>



The next generation of developers, investors and builders stood side by side in their university merch, making tacos with industry pros from places like EY, which had a strong presence at the conference.



But what’s a crypto conference without a little fun? As I arrived, I spotted an artist named Idris Busari, dressed up as a bitcoin, who shared that this was his first-ever blockchain event.



A standout event that sparked plenty of excitement and animated reactions was a session with Hype founder Ravi Bakhai, who dove into the world of <a href="https://blockworks.co/tag/meme-coins">memecoins</a>, captivating both students and some industry pros alike.



According to Bakhai: Memecoins are risky, but you can get rich though.



Bakhai pointed out that memes are no longer just on Crypto Twitter; TikTok is the place to be for anyone trying to stay ahead of volatile memecoin cycles. He dubbed it the “TikTok-ification of finance,” emphasizing just how quick these trends can be. To drive the point home, he shared a story about selling out of a memecoin that skyrocketed 1,000% in just 18 minutes.



“In the US, this is how we get retail back into crypto,” Bakhai told Blockworks.



But it wasn’t all memecoin mania. There were other chats with industry professionals from a16z, prominent VC firms like Volt Capital and folks from the university&#8217;s endowment office, including Daniel Feder and Brandon Schroedle. The two spoke about the university’s interest in crypto and gave their perspectives on the industry.



The endowment holds over $20 billion, Feder told the packed room on Friday. The two then spent the next 30 minutes explaining why UMich is interested in crypto.&nbsp;



The “financial system in the US is very outdated…it’s been cobbled together,” Schroedle said. He’s not only looking at crypto as a way to diversify the investments, but he’s also excited about <a href="https://blockworks.co/tag/depin">DePIN</a> use cases.



Read more: <a href="https://blockworks.co/news/empire-newsletter-depin-public-goods">DePIN: A recipe for public goods on public goods</a>



Feder, however, argued that crypto shouldn&#8217;t be its own asset class — though that hasn’t dampened his bullish outlook. For institutions, he emphasized, the real key will be the continued <a href="https://blockworks.co/news/matt-hougan-crypto-reputational-risk">rise of institutional interest in crypto</a>.



Other highlights included a16z’s Jane Lippencott forecasting a possible &#8220;AI winter&#8221; in the coming years, and Volt’s Soona Ahmaz sharing the do’s and dont’s of pitching to VCs.



The overall sentiment of the conference was positive, and the excitement was palpable.&nbsp;



But one thing that stood out to this writer was not only how crypto-native this next generation already is, but also the gap they’re poised to fill as they step into the crypto workforce.



Coinbase (which also had a recruiter at the event that drew a lot of student attention) published a report in June which <a href="https://assets.ctfassets.net/o10es7wu5gm1/2n9KtrCyq59uQ4uOCF18hi/21fd908639c6c87e9d36a994ccacda51/Q2_2024_State_of_Crypto_final.pdf">showed</a> that the US has lost a lot of dev market share, in part due to its uncertain regulatory environment.&nbsp;



But if the regulatory environment becomes more certain, well, the talent pool is right here and ripe for the picking.



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How memecoins could bring back the retail investor in crypto

Sui, the MoveVM-based layer-1 blockchain, announced last Thursday that the roleplaying game Samurai Shodown R will be available on its upcoming SuiPlay0X1 handheld gaming device.



Samurai Shodown was a classic 1993 Sega fighting game that was re-released as a massive multiplayer online roleplaying game (MMORPG) in 2019.&nbsp;



The new Samurai Shodown R is developed by Lumiwave, a blockchain company focused on bringing intellectual property onchain.



Anthony Palma, head of gaming partnerships and investments at Mysten Labs, said of the launch: “With Sui’s unique infrastructure, LumiWave is able to deliver a truly seamless Web3 experience, where features like evolving NFTs and in-game asset ownership are not just concepts but fully realized.”



Read more: <a href="https://blockworks.co/news/crypto-gaming-fresh-growth">Crypto gaming may be on the cusp of fresh growth</a>



Making use of <a href="https://blockworks.co/tag/sui">Sui</a>’s blockchain technology, Samurai Shodown R will come with Web3 features like dynamically evolving NFTs based on player progression and “zkLogins” with familiar Web2 credentials like Facebook and Google.



<h2 class="wp-block-heading">TapSwap launches new Web3 gaming layer to improve tap-to-earn</h2>



Tap-to-earn games like Notcoin and Hamster Kombat are bogged with problems like user retention, unclear reward structures and plummeting token values.



TapSwap is planning to solve that problem with a new Web3 gaming <a href="https://x.com/tapswapai/status/1854451937145724973">platform</a>, the team announced on Thursday. The so-called “skill-based” <a href="https://blockworks.co/tag/gaming">gaming</a> platform will see gamers pay an upfront fee using the TAPS token to compete against one another for rewards.



TapSwap’s new platform aims to connect gamers with game developers, allowing users to earn rewards in the platform’s native TAPS token while letting developers better monetize their games.



Read more: <a href="https://blockworks.co/news/telegram-tap-to-earn-gaming-trend">Web3 Watch: Telegram tap-to-earn is the new crypto gaming trend</a>



“The classic pattern is a tap-to-earn token losing most of its value immediately after its first listing on a centralized exchange, distorting the incentive to stay with the project for the long run and contribute to healthy ecosystem development,” said Naz Ventura, the founder of TapSwap. “Such outcomes benefit neither the community nor the projects themselves. To address this, TapSwap has built a gaming platform that adds genuine utility and value to the TAPS token, ensuring players are fairly and transparently rewarded.”



<h2 class="wp-block-heading">One interesting stat:</h2>



<ul class="wp-block-list">
<li>Zora has <a href="https://dune.com/jhackworth/zora-network">distributed</a> at least 10,321 worth of ETH in protocol rewards to creators, according to a Dune dashboard by J.Hackworth.</li>
</ul>



<h2 class="wp-block-heading">Also of note:</h2>



<ul class="wp-block-list">
<li>Pudgy Penguins is teaming up with Mythical Games to launch “<a href="https://news.mythicalgames.com/introducing-pudgy-party">Pudgy Party</a>” in 2025, an upcoming AAA multiplayer battle royale mobile game.</li>



<li>Devour, a gamified commerce platform, launched DevourPlay. The platform allows users to play popular games while ordering food directly in-game from US restaurants and earning digital asset rewards. Devourplay has integrated crypto payments via Coinbase Commerce and also features a blockchain-based loyalty program.</li>



<li>WineChain, a <a href="https://blockworks.co/news/lightspeed-newsletter-solana-wine-tokenization">blockchain-based wine</a> marketplace, announced on Wednesday a <a href="https://www.winebusiness.com/news/article/294797">partnership</a> with fine wine specialist Alto to bring over 1200 fine wines to its collections.</li>
</ul>



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Web3 Watch: Classic fighter Samurai Shodown comes to Sui

Casey Wagner

Web3 gaming firm Immutable on Friday announced it had received a Wells notice from the US Securities and Exchange Commission, indicating that the regulator may soon pursue an enforcement action against the company.&nbsp;



The SEC has “non-specifically” alleged Immutable has violated securities laws and misrepresented itself to users, Immutable wrote in a <a href="https://www.immutable.com/blog/defending-digital-ownership-in-gaming">statement</a>.&nbsp;



“In our very first interaction with the SEC, we were told a Wells notice would be issued to the company within the week. We then received it within hours,” the statement added.&nbsp;



Read more: <a href="https://blockworks.co/news/forward-guidance-newsletter-wells-notice">SOL, ADA listed in Crypto.com Wells notice</a>



While the <a href="https://blockworks.co/tag/sec">SEC</a> was vague in the nature of its investigation, Immutable said, executives presume the securities regulator is targeting the company’s IMX token, which were privately sold in 2021. Following the announcement, IMX was trading more than 13% lower on Friday at 12 pm ET.&nbsp;



<a href="https://blockworks.co/tag/immutable">Immutable</a>’s message to regulators?&nbsp;



“Engage with the industry. Create clear and fit-for-purpose industry rules and regulatory guidelines, and we will follow them.”&nbsp;



The news comes as other crypto companies report being on the SEC’s radar. NFT marketplace OpenSea in April <a href="https://blockworks.co/news/sec-issues-wells-notice-opensea-nfts">received a Wells notice</a> from the regulator, alleging NFTs sold on the platform are classified as securities.&nbsp;



Last month, Crypto.com <a href="https://blockworks.co/news/crypto-dot-com-sec-wells">filed a suit against the SEC</a> after it said it received a Wells notice over the summer. The exchange said the preemptive countersuit was intended to “protect the future of the crypto industry in the US.”&nbsp;



<h2 class="wp-block-heading">An interesting stat:&nbsp;</h2>



<ul class="wp-block-list">
<li>DeFi and crypto adoption is growing in Eastern Europe, a new <a href="https://www.chainalysis.com/blog/2024-eastern-europe-crypto-adoption/">report</a> from Chainalysis shows. The region received over $499 billion worth of cryptocurrency between July 2023 and June 2024, accounting for 11% of the total global share. </li>
</ul>



<h2 class="wp-block-heading">Also of note:&nbsp;</h2>



<ul class="wp-block-list">
<li>Bridge, which <a href="https://blockworks.co/news/stripe-bridge-acquisition-stablecoin-infrastructure">Stripe is acquiring for $1.1 billion</a>, announced Friday that it bought Web3 wallet infrastructure company Triangle for an undisclosed amount. </li>



<li>Coinbase and Visa <a href="https://usa.visa.com/about-visa/newsroom/press-releases.releaseId.20931.html">announced</a> on Tuesday a partnership to integrate Visa Direct on the crypto exchange, allowing users to make deposits via Visa debit cards. </li>
</ul>



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Web3 Watch: SEC sets its sights on gaming 

This is a segment from the 0xResearch newsletter. To read full editions, <a href="https://blockworks.co/newsletter/research">subscribe</a>.



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The total NFT market cap today is about <a href="https://www.coingecko.com/en/nft">$3.6 billion</a>, down hugely from its heady 2022 peaks.



Speculative NFT markets are dead, but the use cases of NFTs are not.



Non-fungible tokens as a data format and a unique digital identifier, in the technical sense, continue to be used in productive, non-speculative ways that do not necessarily translate to a number-go-up chart.



Take podcasts for instance. <a href="https://x.com/podsdotmedia">Pods.media</a> provides podcasters a way to easily tap into an alternative monetization stream by letting fans mint NFTs of their podcast episodes. Users mint their favorite podcast NFTs for reasons of altruism, or just because it’s no big deal to pick up a one-time free digital collectible.



Since launching a year ago, Pods has <a href="https://x.com/podsdotmedia/status/1840064720017260796">onboarded</a> 75+ podcasts and racked up more than $1 million in podcast episode mints across 120,000 collectors.



One of Pods’ biggest podcasts on its platform, Mint Podcast, has seen 250k+ NFTs minted across 69,789 unique collectors. Mint Podcast has raised about <a href="https://dune.com/queries/3398749/5704012">$476,885</a> in sales since it started using Pods in April 2024.



$477k is not life-changing money, but it’s a tidy sum for a little-known podcast in an industry where there’s an oversaturated podcasting supply side.



But the real use case of NFTs there goes beyond a simple revenue stream.



Having pushed his podcast audience towards a simple NFT mint with Pods, Adam Levy, the face behind Mint Podcast, was able to construct a comprehensive social graph of his anonymous audience.



To create a granular onchain composition, Levy targeted his 90k-strong audience with the use of Bello. The Web3 marketing analytics product, which he co-founded, spawned out of a hackathon at ETH Amsterdam.



“I learned that a high percentage of my onchain audience were also Zora collectors. With that information, I was able to tap the interests of my podcast listeners (with Bello) based on their wallet onchain’s history,” Levy tells Blockworks.



“I took action by doing more Zora-centric podcast episodes, which translated to another 40-50% more downloads on podcast content.”



In effect, NFTs enabled Levy to meet his users where they were once they took the first step of minting an episode.



As opposed to sending generic mass emails, Levy’s strategy enables the tailored outreach to podcast audiences who were active Lens or Farcaster users, directly in their social media DMs, or Coinbase Wallet users through the XMTP messaging protocol.



It also allows podcasters to curate their podcast content or sponsorships around trending content being minted in real time.



Picture having the hard evidence that 80% of your dedicated podcast audience interacted with a certain DeFi or NFT contract in the last six hours. Then imagine pushing out a podcast episode or marketing message crafted around that very topic in the very next hour.



It’s a plethora of onchain information that would not have been possible for any traditional podcaster using Spotify or Apple Music, Levy said.



“I don&#8217;t really care about my reach on Twitter or my audience on Instagram any longer — I care more about the wallets that collect my content because now I have ways to engage them in a permissionless manner where I can never be shadowbanned across any platform.”



Aside from podcasting, NFTs have also been used to fight counterfeit and fraud in the luxury goods sector.



Since 2021, the Geneva-based non-profit Aura consortium gives luxury brands a way to offer consumers an easy way to trace a product’s lifecycle and authenticate products onchain with NFTs.



It’s a purely non-speculative use case applying the immutable properties of NFTs to combat hundreds of millions of dollars worth of fraud and counterfeit in a $300 billion dollar industry.



Aura has brought onchain more than <a href="https://auraconsortium.com/news/blockchain-aura-surpasses-50-million-products">50 million</a> luxury goods from luxury watches, suitcases, shoes, cars, jewelry and furniture for over 50 luxury brands from the likes of Cartier, Dior, Prada, Mercedes-Benz and more.



Brands pay Aura licensing fees to use either a private or public blockchain option, though 90% opt for the former for data security and privacy reasons.



Traceability represents one of the big challenges in the luxury industry, in part due to laws like the EU’s Ecodesign for Sustainable Products Regulation <a href="https://commission.europa.eu/energy-climate-change-environment/standards-tools-and-labels/products-labelling-rules-and-requirements/ecodesign-sustainable-products-regulation_en">(ESPR)</a> and France’s Anti-Waste for a Circular Economy<a href="https://www.scantrust.com/france-agec-law-decree-2022-748-how-to-comply/"> (AGEC)</a> that put more scrutiny on a product’s lifecycle, Romain Carrere, CEO of Aura Blockchain Consortium told Blockworks.&nbsp;



There are countless other cases of NFTs being used for productive purposes, like unlocking new revenue streams for adult creators by <a href="https://mintstars.com/how-it-works">MintStars</a>, or raising funds and codifying intellectual property for niche science projects by Bio, as I’ve <a href="https://blockworks.co/news/0xresearch-newsletter-science-funding-onchain">written previously</a>.&nbsp;



More on this in a future 0xResearch edition.



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NFTs in action: A podcaster’s unique method for engaging his fanbase

This is a segment from the Empire newsletter. To read full editions, <a href="https://blockworks.co/newsletter/empire">subscribe</a>.



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Are we really about to see the takeoff of GameFi?



It might be slightly too early to tell — though I hosted an hour-long X Spaces the other week that ended up primarily focusing on gaming — but I gotta say it looks far more promising this cycle when compared to the last time around.&nbsp;



We’ve <a href="https://empire-31ed59.beehiiv.com/p/pwn-to-earn-is-here?utm_source=empire-31ed59.beehiiv.com&amp;utm_medium=newsletter&amp;utm_campaign=pwn-to-earn-is-here&amp;_bhlid=fe9cf80c65bd43529a8f3faf10af1ee63e95013b">previously written about Off the Grid</a>, but I want to zoom out and look at GameFi as a whole. Right now, the sector is facing a “pivotal phase of expansion,” according to a <a href="https://research.nansen.ai/articles/future-of-gamefi-in-web3">report</a> from Nansen and Slice Analytics. 



I caught up with Slice co-founder Tim Conrad on gaming, given the attention bump it received from not only Off the Grid but <a href="https://www.ubisoft.com/en-us/help/champions-tactics-grimoria-chronicles/purchases-and-rewards/article/release-information-for-champions-tactics-grimoria-chronicles/000105558">announcements</a> from huge players like Ubisoft, which are angling for exposure through their own releases.



Although, the recent shift in popularity hasn’t come without its hurdles.



“So last cycle, you had the hype phase of the curve, and nobody had enough time to invest the money and time to build a really good game. I think Axie infinity was probably well above its time, and that&#8217;s probably why it drew so much attention,” Conrad said.&nbsp;



“But it still really lacked that AAA kind of gameplay and experience there … I think that that [the bear market] was the best thing that could have ever happened in the GameFi space. It allowed these triple-A games … to spend that time building, and now we&#8217;re seeing the fruits of those labors. And I think it&#8217;s drawing a lot of attention.”&nbsp;



A <a href="https://www.grandviewresearch.com/industry-analysis/blockchain-gaming-market-report?ref=blog.bake.io">report</a> from Grand View Research estimates that the sector could hit $301 billion by 2030.&nbsp;



Conrad explained that the figure may not be that far off. He said it’s “basically” based on the&nbsp; “acceleration that we&#8217;re seeing from 2021 and the kind of investment that we&#8217;re seeing, in addition to the teams joining, the amount of games that are launching — all that combined, looking into a projected outcome.”



It all depends on a few things, including communities.&nbsp;



“I think that&#8217;s really important to build that community, especially with gaming,” Conrad told me.&nbsp;



“We&#8217;re seeing the Epic Game store start working with Web3, this is all fantastic. One thing we took a closer look at is what type of community all these games are really growing. And one of the biggest challenges [was] when a new game that hasn&#8217;t even launched yet has like a million followers on [X]. It&#8217;s a little suspicious, and it makes you realize that a lot of these metrics really need to be scrutinized further,” he explained.&nbsp;



“Metrics can be changed like that, but we have to do our best to kind of filter through that noise and really evaluate what is a real metric, and what is something that we shouldn&#8217;t put so much weight into.”



Now as to what metrics matter the most, well, that might all be figured out once there’s a bit more maturity in the space.



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Crypto gaming may be on the cusp of fresh growth

MetalCore is making a <a href="https://www.metalcore.gg/news/metalcore-is-migrating-to-solana-using-the-gameshift-platform">move</a> from the Immutable zkEVM chain to Solana.



Currently in closed beta, MetalCore is a futuristic shooter game involving tactical warfare on vehicular combat with prehistoric monsters in a post-apocalyptic world.



MetalCore is developed by Studio369. The team will be leveraging Solana Lab’s GameShift platform that offers a marketplace with integrated payment systems and a self-custodial wallet via GameShift’s API.



Matt Candler, CEO of Studio369, said of the launch: &#8220;MetalCore has repeatedly won best Web3 game awards, and we want to bring the best infrastructure to our players so they can enjoy the game in the most convenient and frictionless way possible.”



Read more: <a href="https://blockworks.co/news/lightspeed-newsletter-a16z-solana-gaming">A16z is placing a bet on Solana gaming</a>



The <a href="https://blockworks.co/tag/solana">Solana</a> version of MetalCore season two will be available in November, with the option for players to bridge their in-game assets to Solana.



<h2 class="wp-block-heading">LALIGA partners up with Sportsbet</h2>



Spanish football league LALIGA is partnering with Sportsbet.io, a crypto betting platform to boost fan engagement.



Announced on Thursday, the partnership plans to bring “exclusive offers, prizes and content” to LALIGA’s football fans.



Read more: <a href="https://blockworks.co/news/decentralized-sports-betting">Peer-to-peer sports betting is crypto’s next killer app</a>



Jorge de la Vega, executive general manager of LALIGA, said of the partnership: “Together, we aim to deliver new and dynamic experiences for our fans, offering them fresh ways to engage with the passion and excitement that defines LALIGA. This collaboration marks an important step in our strategy to connect with global audiences and continue growing our international presence.”



Based on a 2023 <a href="https://www.socios.com/deloitte-fan-report-reveals-growing-interest-in-fan-tokens-among-younger-generations/">Deloitte</a> report, 60% of sports fans are open to purchasing a “fan token” if it gives them an opportunity to <a href="https://blockworks.co/news/psg-becomes-chiliz-validator">win rewards like tickets</a> to a live sporting event.



<h2 class="wp-block-heading">Some interesting stats:</h2>



<ul class="wp-block-list">
<li>The “Gold Rush” tap-to-earn Telegram minigame by PiP World saw over <a href="https://docs.google.com/document/d/1U3J5R_DGjeWjy9SrzGTAjaa-GTVsnsd2cjud32QxXjo/edit?tab=t.0">500,000</a> users in the last month since its launch. </li>



<li>Daily trading volumes for blockchain games saw a 8.94% rise in August, based on <a href="https://research.nansen.ai/articles/future-of-gamefi-in-web3">Nansen</a>. The action RPG Seraph is leading in daily active wallets of 537,000, above both Illuvium and Axie Infinity.</li>
</ul>



<h2 class="wp-block-heading">Also of note:</h2>



<ul class="wp-block-list">
<li>The move-to-earn Web3 game STEPN GO is <a href="https://stepnofficial.medium.com/snoop-dogg-feat-stepn-go-from-west-coast-to-web3-1d3c4ccd62a1">teaming</a> up with Snoop Dogg to drop 800 limited edition Genesis Sneakers. They will be available via a raffle on STEPN GO&#8217;s X and FSL’s marketplace MOOAR from Oct. 28 to Nov. 8.</li>



<li>The metaverse game Nifty Island unveiled its latest dev <a href="https://guide.niftyisland.com/nifty-island-dev-roadmap">roadmap</a>, introducing features like UGC tools, a creator marketplace to trade NFTs and digital land ownership.</li>



<li>OpenSea integrated <a href="https://opensea.io/blog/articles/announcing-b3-chain-on-opensea">B3 Chain</a>, a <a href="https://blockworks.co/tag/gaming">gaming</a> ecosystem on Base.</li>
</ul>



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Web3 Watch: MetalCore is leaving Immutable for Solana

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A month ago, Solana Mobile announced that the Solana Seeker would ship in mid-2025. This will mark the second iteration of the Solana phone experiment. Partly driven by speculation that the phone will come with lucrative token airdrops, Seeker has seen good early returns. The phone has garnered 145,000 pre-orders, Solana Mobile general manager Emmett Hollyer confirmed to me.



What has slipped a bit below the radar is how Solana’s broader app ecosystem is also quietly shifting into mobile. The Solana DeFi giant Jupiter just <a href="https://blockworks.co/news/solana-venue-jupiter-released-mobile-app">debuted its mobile swap platform</a>, and Solana-native apps DRiP, Birdeye, and Cube Exchange also have mobile versions in the works.&nbsp;



As crypto attempts to enter a long-awaited era of usable apps, it seems like Solana is having a definitive moment where just about everyone is trying to build a mobile app, or at least thinking about it.



Bartosz Lipinski, the CEO of Cube, agreed in a text that having a mobile app is likely to become table stakes for Solana projects. If blockchain technology is going to become approachable, it needs to “meet users where they are — on their phones,” Lipinski said.



This is all well and good in theory, but the crypto world has known about the need for mobile adoption <a href="https://blockworks.co/news/phantom-wallet-launches-mobile-version-to-bring-solana-to-smartphones">for a long time</a>. Right now, Solana is on the cusp of having a bunch of apps be released into the wild. DRiP is expected in December, a spokesperson said. Cube’s Telegram app is expected next week, and its iOS app is coming in November. Birdeye’s app is expected soon.



Once these Solana apps are actually out, the question will become whether they can gain any sort of broad adoption. In at least some cases, builders are thinking that adoption may come from one of crypto’s few mobile success stories to date — Telegram.&nbsp;



Cube is releasing a version of its app on Telegram because of the ability to avoid app store approval hurdles and Telegram’s native crypto integration and crypto-native user base, Lipinski told me.&nbsp;



Caitlin Cook, the director of growth at Solana-based mobile app Moonwalk Fitness, said Telegram is good for quick access and more lightweight features, but it also has limitations.



“[If] your product requires deep functionality, a custom brand experience, and more scalability, building a native app for the app store is probs a better strategy,” Cook said in a direct message.



Regardless, Solana mobile app launches are actually here — not just vaguely in the future. The reason behind this seems to at least partly be the continued development of Solana Mobile which, with its grand ambitions and backing from Solana co-founder Anatoly Yakovenko, is leading the way in making crypto on mobile less of a talking point and more of a reality.&nbsp;



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Solana mobile app launch season is upon us

The TON layer-1 blockchain’s viral tap-to-earn game Hamster Kombat is <a href="https://x.com/hamster_kombat/status/1846883884681601530">launching</a> its second season at the end of October.



When the game launched in March 2024, its first season saw players running a fictional tier-one crypto exchange.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">HAMSTERS ARE THE NEW WHALES 🤩 The new chapter of Hamster Kombat is just around the corner, and all the CEOs will be managing new businesses very soon. 🧡 Together we will be building a gaming platform, hiring employees, and producing new gaming hits! <a href="https://t.co/NrBiN8GrPa">pic.twitter.com/NrBiN8GrPa</a>&mdash; Hamster Kombat (@hamster_kombat) <a href="https://twitter.com/hamster_kombat/status/1846883884681601530?ref_src=twsrc%5Etfw">October 17, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Players in the second season will act as a game development studio CEO in charge of marketing, HR and merchandise launch, as per a <a href="https://x.com/hamster_kombat/status/1846883884681601530">video teaser</a>.



Hamster Kombat launched its HMSTR token in late September, and was listed across major exchanges like Binance, OKX and Crypto.com.



Read more: <a href="https://blockworks.co/news/telegram-tap-to-earn-gaming-trend">Web3 Watch: Telegram tap-to-earn is the new crypto gaming trend</a>



HMSTR sits at a $247 million market cap as of Friday, down from about $560 million on its token generation event.&nbsp;



According to its <a href="https://hamsterkombatgame.io/docs/HK_WP_03.pdf">white paper</a>, Hamster Kombat has no venture-backed investors and 60% of its total 100 billion HMSTR token supply is allocated to players.



On the game’s <a href="https://hamsterkombatgame.io/">roadmap</a> for Q4 2024, season two will incorporate NFT mechanics and other external payment systems.



<h2 class="wp-block-heading">Moonray announces 2025 PS5 launch</h2>



The AAA game Moonray announced Thursday its planned 2025 launch of the PlayStation 5 console.



Moonray is a player-versus-player battle arena blockchain-based game that previously launched a “play-to-airdrop” <a href="https://x.com/moonraygame/status/1802815540647346318">campaign</a> in June, as well as <a href="https://x.com/moonraygame/status/1575484593007865857">NFT sales</a> of in-game skins in 2022.



To stay compliant with platform policies however, Web3 features have been stripped from its PS5 release.



Read more: <a href="https://blockworks.co/news/empire-newsletter-nfts-comeback-gaming">A wave of new games could prove NFTs aren’t dead after all</a>



Previously on the Ethereum L1, Moonray <a href="https://x.com/moonraygame/status/1575484593007865857">announced</a> it would move its blockchain features to the <a href="https://blockworks.co/tag/base">Base</a> layer-2 in June.



The game has been available to play in “Early Access” mode for PC on the Epic Games store since July 2024, but will also be available on Steam eventually.



According to a press release, Moonray is backed by investors including Animoca Brands, Republic Crypto, C2 Ventures, Polygon Ventures, Huobi Ventures, Cardano Ventures and Master Ventures.



<h2 class="wp-block-heading">One interesting stat:</h2>



<ul class="wp-block-list">
<li>Web3 <a href="https://blockworks.co/tag/gaming">gaming</a> company Azra Games <a href="https://x.com/AzraGames/status/1846207939776073744">announced</a> a $42.7 million Series A funding raise led by Pantera Capital, with participation from a16z and NFX ventures.</li>
</ul>



<h2 class="wp-block-heading">Also of note:</h2>



<ul class="wp-block-list">
<li>BlockBar, a blockchain-based wines and spirits marketplace, is <a href="https://x.com/BlockBar/status/1846205738017816653">launching</a> an “artisanal producer” program to include smaller batch alcohol from independent producers.</li>



<li>Big things are coming for Nouns Esports as the team <a href="https://mirror.xyz/0x6fB5d14b61e595e6f34BAF952c5d3e60e45883b0/7CPdMIU2T9tGY9w6lIXcbS-gtXkxHPOdb6ZiDhstyBg">plans</a> to scale into a professional league with onchain mechanics.</li>



<li>The Gods Unchained Web3 trading card game just <a href="https://x.com/GodsUnchained/status/1844420179096121463">launched</a> its latest Tower of Dread expansion.</li>
</ul>



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Web3 Watch: Tap-to-earn game Hamster Kombat gears up for Season 2 

Karate Combat announced the launch of its upcoming layer-2 blockchain, UP, built on the Hedera layer-1 network.



The first professional striking league governed by its own KARATE token, the project allows over 100,000 users to earn tokens by accurately predicting fight outcomes using its Up Only Gaming software.



Through the use of the Up Only Gaming software stack, more than 100,000 users on the platform can earn KARATE tokens by correctly predicting fight outcomes.



The UP layer-2 is set to be launched in Q1 2025. Its own $UP token is planned to be launched within the same year, with up to 30% of the token going to KARATE stakers.



Read more: <a href="https://blockworks.co/news/permissionless-day-two-vibes">Politics and memecoins drive the conversation on day 2 of Permissionless</a>



“Karate Combat is already massively incentivized to spread its Up Only Gaming technology to other sports, esports, fantasy sports, crypto projects and more,” onlylarping, Karate Combat’s pseudonymous co-founder, said. “UP is the enabling technology to not only allow us to provide all the tech for free, but to give grants and our user base to early partners.”



Karate Combat’s latest combat sporting event <a href="https://www.universe.com/events/karate-combat-50-permissionless-tickets-NP6T1Z">KC 50</a> is being held at <a href="https://blockworks.co/event/permissionless-iii">Permissionless III</a> in Salt Lake City, UT. It will feature a fight between David Hoffman, co-founder of Bankless, and Kain Warwick, co-founder of Infinex.



Read more: <a href="https://blockworks.co/news/permissionless-iii-day-three-defi">Permissionless III: DeFi phoenix looms as OG builders forecast next phase</a>



<h2 class="wp-block-heading">Polemos partners with Buff</h2>



On Wednesday, the blockchain <a href="https://blockworks.co/tag/gaming">gaming</a> asset management platform Polemos announced a partnership with Buff.game — a gaming company that runs a loyalty program for over 15 million players across games like Dota 2, Fortnite, League of Legends, Valorant and more.



The partnership is leveraging Polemos&#8217; asset management wallet and non-collateralized lending solution to let gamers trade, lend, borrow and access in-game items without the need for players to make an upfront investment.



Carl Wilgenbus, CEO of Polemos, said of the partnership: &#8220;This collaboration with Buff.game represents a pivotal moment in the evolution of gaming. By combining our Web3 expertise with Buff&#8217;s massive player base, we&#8217;re set to catalyze widespread adoption of blockchain gaming technologies.&#8221;



<h2 class="wp-block-heading">One interesting stat:</h2>



<ul class="wp-block-list">
<li>Pudgy Penguin <a href="https://x.com/pudgypenguins/status/1841878248101196078">GIFs</a> on Giphy have seen more than 30 billion views. </li>
</ul>



<h2 class="wp-block-heading">Also of note:</h2>



<ul class="wp-block-list">
<li>ENS domain names are now <a href="https://x.com/nalin/status/1843750140332650851">searchable</a> on Google.</li>



<li>The CryptoKitties NFT project is <a href="https://x.com/CryptoKitties/status/1841206455153934824?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1841206455153934824%7Ctwgr%5Ef0beffe8b1d8a196bee0ddfc0667d6d00ce86b14%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fopensea.io%2Fblog%2Farticles%2Fopensea-digest-october-10-2024">launching</a> “All the Zen,” a new monster breeding game on the Telegram messaging platform.</li>



<li>The Avalanche-based battle royale shooter Off the Grid from Gunzilla Games went <a href="https://x.com/playoffthegrid/status/1843685237546725748?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1843685237546725748%7Ctwgr%5Ef0beffe8b1d8a196bee0ddfc0667d6d00ce86b14%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fopensea.io%2Fblog%2Farticles%2Fopensea-digest-october-10-2024">live</a> on PlayStation 5, Xbox and PC, making it the first ever blockchain game on PlayStation 5.</li>
</ul>



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Web3 Watch: Karate Combat announces the launch of its UP L2

Crypto conference panel titles are like little time capsules that give a sense of what the crypto world was interested in at a certain moment in time (at least in the eyes of conference organizers).



So here’s one telling example I found: A year ago at Permissionless II, a host of Solana founders sat on a panel called “Solana DeFi: A Phoenix Rises from the Ashes.”&nbsp;



This year, the main stage saw a talk called “DeFi: A Phoenix Rises from the Ashes,” but the panel was populated with Ethereum DeFi founders instead.



During that 2023 panel, SOL was trading at around $18. Today, it&#8217;s around $140. This week, the fees and tips being <a href="https://app.blockworksresearch.com/analytics/sol?dashboard=sol-financial&amp;interval=weekly">processed</a> by the Solana blockchain are roughly 70 times what they were during the last Permissionless.



Read more: <a href="https://blockworks.co/news/permissionless-day-two-vibes">Politics and memecoins drive the conversation on day 2 of Permissionless</a>



In brief, it appears that the phoenix has risen from the ashes.&nbsp;



This year’s Permissionless conference fell less than a month after Solana’s flagship conference in Singapore, so it was a light week as far as bombshell <a href="https://blockworks.co/tag/solana">Solana</a> announcements went. Instead, the Solana content was a bit of a heady brew.&nbsp;



Read more: <a href="https://blockworks.co/news/lightspeed-newsletter-solana-breakpoint-2024">These 3 questions remain after Solana Breakpoint</a>



Eugene Chen from Ellipsis Labs <a href="https://x.com/whosknave/status/1844104857437049207">said</a> that “fighting [maximal extractible value] is almost like fighting gravity” due to the inevitable economic force to pack blocks tightly. DRiP’s Vibhu Norby said that memecoins can be better thought of as commerce than as investment during a live taping of the Lightspeed podcast. And someone I chatted with near the coffee station said decentralized physical infrastructure (<a href="https://blockworks.co/tag/depin">DePIN</a>) projects where the infrastructure’s supply comes from the same place as its demand are the most likely to succeed (think of a shared computing network where users offer and also use computing power, as an easy example).



As attendees chugged water and generously applied chapstick to battle the Salt Lake City dryness, it became clear to me that Solana has become, for lack of a better word, cool. The Solana breakout track was reasonably full, and a Solana Foundation-sponsored founder summit had to turn around its fair share of curious interlopers.&nbsp;



For Solana founders I heard from, the plaudits feel good, especially given how some in crypto tabbed Solana a lost cause following FTX’s unraveling.&nbsp;



But it’s also uncharted territory for Solana, which has always felt like a contrarian bet against the much-larger Ethereum. Today, Solana is <a href="https://blockworks.co/news/lightspeed-newsletter-solana-defi-activity-expanding">much closer to Ethereum</a> in key usage metrics, and professional investors seem to be <a href="https://blockworks.co/news/lightspeed-newsletter-sol-strategies-rebrand">taking a liking to SOL</a>.&nbsp;



The question I was struck by during the conference is how Solana can adjust to a world where it’s not quite the contrarian underdog anymore. What if new chains come to fruition that are faster, cheaper, more impious to crypto’s high priests?



Crypto fans tend to not be fans of social consensus, and being more of a consensus blockchain could prove to be disadvantageous. Solana has certainly risen from the ashes over the past year. It’s now a question of whether the phoenix can also fly.



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Permissionless III dispatch: What a difference a year makes for Solana

The mix of retail and institutional, DeFi and TradFi, suits and T-shirts has been a staple at Permissionless since the inaugural event in 2022. Crypto influencers and US senators find themselves under the same roof this year for three days in Utah.&nbsp;



But the circumstances this year are special. When Permissionless III wraps on Friday, there will be 26 days left until the 2024 presidential election. This reality has crept into almost every discussion, both on stage and on the expo floor.&nbsp;


<div class="wp-block-image">
<figure class="alignright size-large is-resized"><img loading="lazy" decoding="async" width="1200" height="800" src="https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241010_Permissionless_3966.jpg?w=1024&amp;h=1024" alt="" class="wp-image-92981" style="width:557px;height:auto" srcset="https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241010_Permissionless_3966.jpg?w=1200 1200w, https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241010_Permissionless_3966.jpg?w=300 300w, https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241010_Permissionless_3966.jpg?w=1024 1024w, https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241010_Permissionless_3966.jpg?w=768 768w, https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241010_Permissionless_3966.jpg?w=386 386w, https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241010_Permissionless_3966.jpg?w=392 392w, https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241010_Permissionless_3966.jpg?w=329 329w, https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241010_Permissionless_3966.jpg?w=80 80w" sizes="(max-width: 1200px) 100vw, 1200px" /><figcaption class="wp-element-caption">Source: Mike Lawrence for Blockworks</figcaption></figure></div>


“I think it is bullish if Trump wins, and it&#8217;s probably negative for a little bit if [Harris] wins,” Dan Tapiero, founder of 1Roundtable Partners and 10T Holdings, said during a Thursday panel discussion. “But the reality is that this move toward putting all value on a blockchain is bigger than one election.”&nbsp;



Read more: <a href="https://blockworks.co/news/permissionless-3-day-one-vibes">Axe throws and crypto wizards: Permissionless III is underway</a>



The comments contrast a widely accepted narrative from many industry players — and certain politicians — that a second Donald Trump presidency will lead to a more friendly environment for crypto in the US.&nbsp;



“He’s evolved on this issue to the point where he’s going to advocate for it,” House Majority Whip <a href="https://blockworks.co/news/forward-guidance-newsletter-vaneck-vc-fund">Tom Emmer told Blockworks</a> of Trump’s crypto stance and the about-face he’s done in recent months.&nbsp;



“[<a href="https://blockworks.co/tag/kamala-harris">Harris</a>] doesn’t know what she’s talking about,” he added.&nbsp;



Couple the looming election with increasingly uncertain macroeconomic conditions and a crypto market that just can’t seem to take off again, and you paint a somewhat bleak picture. Still, the speakers in Salt Lake City managed to bring some levity to the situation: Focus on the memes.&nbsp;



“I don&#8217;t want to wax too philosophical here, but partially because the transparency of mobile phones, trust in US institutions has really gone down,” <a href="https://blockworks.co/tag/vaneck">VanEck</a> CEO Jan van Eck said on stage.&nbsp;



“Trust in Congress, trust in academia, trust in mainstream media has basically disappeared,” van Eck added. “The fact that some of the memecoins make fun of some of that, I think, is great. It&#8217;s a joyful response, a social response.”&nbsp;



Read more from our opinion section: <a href="https://blockworks.co/news/political-candidates-cannot-ignore-crypto-voters">Political candidates can no longer ignore crypto voters</a>



Aside from politics and memecoins, it just wouldn’t be a crypto conference if people didn’t talk about price action. Even as bitcoin dipped below $59,000 Thursday, the bulls were unphased.&nbsp;



Tapiero said he expects BTC to hit between $150,000 and $180,000 in two years or so.&nbsp;



Pantera Capital CEO Dan Morehead threw out a number too: $117,000 by August 2025. Van Eck didn’t share a specific price expectation, but added with a smile: “I think we’re all bulls on this stage.”



Ben Strack contributed reporting.



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Politics and memecoins drive the conversation on day 2 of Permissionless

Wizards on stage. Rock climbing. And don’t forget the axe throwing.&nbsp;



These things and more helped set the tone during Permissionless III’s first day as thousands of crypto denizens descended on Salt Lake City.&nbsp;



There’s excitement in the air as folks sit in on sessions focused on a variety of topics, from investing in private markets to a fireside chat with BlackRock’s Samara Cohen (we’ll get to that in a bit).&nbsp;



One attendee remarked that they preferred Permissionless over other popular crypto events, remarking that it was “less of a zoo.”


<div class="wp-block-image">
<figure class="alignright size-medium is-resized"><img loading="lazy" decoding="async" width="1200" height="800" src="https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241009_Permissionless_862.jpg?w=300&amp;h=300" alt="" class="wp-image-92914" style="width:461px;height:auto" srcset="https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241009_Permissionless_862.jpg?w=1200 1200w, https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241009_Permissionless_862.jpg?w=300 300w, https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241009_Permissionless_862.jpg?w=1024 1024w, https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241009_Permissionless_862.jpg?w=768 768w, https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241009_Permissionless_862.jpg?w=386 386w, https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241009_Permissionless_862.jpg?w=392 392w, https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241009_Permissionless_862.jpg?w=329 329w, https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241009_Permissionless_862.jpg?w=80 80w" sizes="(max-width: 1200px) 100vw, 1200px" /><figcaption class="wp-element-caption">Source: Mike Lawrence for Blockworks</figcaption></figure></div>


While many attendees noted that the overall vibes were good, Ram Ahluwalia told me that he felt the vibes were “malaise.”&nbsp;



For Ahluwalia, one question lingered above his head like a rainy cloud: Will the latecomers — who bought in as prices rose — HODL or dip once we carve out a new all-time high?



Blockworks Chief Operating Officer Sid Viswanath noted he’d received a lot of positive feedback from attendees, with some even remarking that they prefer the quality of the event, which is smaller than last year.&nbsp;



As for the main stage, a16z crypto’s Chris Dixon was one of the first folks to speak at the conference on Wednesday.&nbsp;



Dixon, appearing on the main stage, pushed for bipartisan legislation, noting that there’s a current “chill” on crypto due to the overall environment.&nbsp;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">“An erratic regulatory regime is holding back founders from building what they want. There’s a political movement trying to shut down crypto by targeting good actors like Coinbase while letting bad actors like FTX off the hook. It’s a deliberate strategy to chill the space, which… <a href="https://t.co/La3rCzBlJy">pic.twitter.com/La3rCzBlJy</a>&mdash; rahilla (@rahilla) <a href="https://twitter.com/rahilla/status/1844041737595240705?ref_src=twsrc%5Etfw">October 9, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The regulatory environment — which has become one of the most popular topics for crypto — was mentioned heavily throughout many of the panels, especially the ones that took place on the main stage.&nbsp;



But there’s an undertone of bullishness rippling through the attendees and the speakers at this year’s event. And I’m not just writing that as a Blockworks staffer.&nbsp;



Read more from our opinion section: <a href="https://blockworks.co/news/political-candidates-cannot-ignore-crypto-voters">Political candidates can no longer ignore crypto voters</a>



<a href="https://blockworks.co/tag/blackrock">BlackRock</a>’s Samara Cohen gave some insight into IBIT’s investors and the appetite that the world’s largest asset manager has seen since launching its bitcoin ETF in January of this year.&nbsp;



Cohen said that roughly 75% of buyers of IBIT were first-time iShare buyers, showing that the majority of the investors were crypto natives.&nbsp;



Looking at 13F filings, she noted roughly 85% of the investors were direct buyers.&nbsp;



“What we have actually seen is an appetite” for <a href="https://blockworks.co/tag/bitcoin-etf">bitcoin ETFs</a>, Cohen said.&nbsp;



After her talk, one attendee commented that Cohen was “badass.”



Off the main stage, attendees filled up the so-called breakout tracks, or smaller panels, which began in the afternoon.&nbsp;


<div class="wp-block-image">
<figure class="alignright size-large is-resized"><img loading="lazy" decoding="async" width="1200" height="800" src="https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241009_Permissionless_1044-3.jpg?w=1024&amp;h=1024" alt="" class="wp-image-92922" style="width:532px;height:auto" srcset="https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241009_Permissionless_1044-3.jpg?w=1200 1200w, https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241009_Permissionless_1044-3.jpg?w=300 300w, https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241009_Permissionless_1044-3.jpg?w=1024 1024w, https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241009_Permissionless_1044-3.jpg?w=768 768w, https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241009_Permissionless_1044-3.jpg?w=386 386w, https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241009_Permissionless_1044-3.jpg?w=392 392w, https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241009_Permissionless_1044-3.jpg?w=329 329w, https://blockworks-co.imgix.net/wp-content/uploads/2024/10/20241009_Permissionless_1044-3.jpg?w=80 80w" sizes="(max-width: 1200px) 100vw, 1200px" /><figcaption class="wp-element-caption">Source: Mike Lawrence for Blockworks</figcaption></figure></div>


In one such panel, a wizard — Taproots Wizard co-founder Eric Wall — sat next to Galaxy’s Alex Thorn as the two discussed bitcoin with Bankless co-founder David Hoffman.&nbsp;



Hoffman will not only take the stage at Permissionless but will also be in the ring on Friday to take on Kain Warwick in a Karate Combat match.



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Start your day with top crypto insights from David Canellis and Katherine Ross. <a href="https://blockworks.co/newsletter/empire">Subscribe to the Empire newsletter</a>.



Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. <a href="https://blockworks.co/newsletter/onthemargin">Subscribe to the Forward Guidance newsletter</a>.



Get alpha directly in your inbox with the <a href="https://blockworks.co/newsletter/research">0xResearch newsletter</a> — market highlights, charts, degen trade ideas, governance updates, and more.



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Axe throws and crypto wizards: Permissionless III is underway

Buckle up, Lamborghinis are coming to the metaverse.



Automobili Lamborghini and Animoca Brands are collaborating to bring the iconic Italian luxury vehicles into “Fast ForWorld,” Automobili’s upcoming metaverse platform.



Players will be able to own and trade Lamborghini sport cars as interoperable digital assets across gaming platforms such as Torque Drift 2, REVV Racing and the Motorverse Hub.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">We are thrilled to announce our partnership with <a href="https://twitter.com/Lamborghini?ref_src=twsrc%5Etfw">@Lamborghini</a>! Together, we will drive digital vehicle culture forward to shape the future of brand engagement in the automotive industry. <a href="https://twitter.com/TheMotorverse?ref_src=twsrc%5Etfw">@TheMotorverse</a> is in on it 👀 Wen Lambo 🏎️ <a href="https://t.co/uBy9vfO7EE">https://t.co/uBy9vfO7EE</a> <a href="https://t.co/BeIFuCZ9vu">pic.twitter.com/BeIFuCZ9vu</a>&mdash; Animoca Brands (@animocabrands) <a href="https://twitter.com/animocabrands/status/1821517925804904590?ref_src=twsrc%5Etfw">August 8, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Fans will have to purchase a Lamborghini Revuelto digital asset in order to access the ecosystem, which will be available in November.



Read more: <a href="https://blockworks.co/news/dolce-gabbana-lawsuit-nft-collection">Web3 Watch: Naked in the metaverse</a>



Fast ForWorld is developed by Gravitaslabs, a Web3-focused game design technology company and Animoca Brands partner.



<h2 class="wp-block-heading">Ubisoft to launch NFT collection via Magic Eden</h2>



Gaming juggernaut Ubisoft is launching the “Niji Warrior ID Cards” NFT <a href="https://www.prnewswire.com/news-releases/magic-eden-and-ubisoft-launch-nft-collection-on-arbitrum-for-captain-laserhawk-the-game-302267766.html">collection</a> on the Arbitrum layer-2 via the <a href="https://blockworks.co/tag/magic-eden">Magic Eden</a> marketplace.



The NFT mint will be a collection of 10,000 and will use dynamic metadata to reflect player activity in Ubisoft’s upcoming multiplayer shooter game Captain Laserhawk: The G.A.M.E., as well as governance over the game’s updates.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">Some partnerships just make sense. We’ve teamed up with <a href="https://twitter.com/Ubisoft?ref_src=twsrc%5Etfw">@ubisoft</a> to launch their newest game, <a href="https://twitter.com/EdenOnline_exe?ref_src=twsrc%5Etfw">@EdenOnline_exe</a>, built on the <a href="https://twitter.com/arbitrum?ref_src=twsrc%5Etfw">@arbitrum</a> blockchain. With this comes their upcoming NFT mint, and the first Arbitrum mint on Magic Eden. Welcome to the Home of Web3. <a href="https://t.co/k5xoORGbV6">pic.twitter.com/k5xoORGbV6</a>&mdash; Magic Eden 🪄 (@MagicEden) <a href="https://twitter.com/MagicEden/status/1842223904892313910?ref_src=twsrc%5Etfw">October 4, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Captain Laserhawk: The G.A.M.E. is inspired by the “Blood Dragon” video game from Ubisoft’s popular Far Cry series, which also has an accompanying animated TV series “Captain Laserhawk: A Blood Dragon Remix” on Netflix.



This marks Magic Eden’s first <a href="https://blockworks.co/tag/nfts">NFT</a> deployment on Arbitrum, as well as Ubisoft’s second foray into blockchain gaming. Its first, Champions Tactics: Grimoria Chronicles, is an upcoming gothic-themed turn-based RPG that is set to launch on the Oasys layer-1 blockchain.



<h2 class="wp-block-heading">One interesting stat:</h2>



<ul class="wp-block-list">
<li>Podcast NFT mints on the Pods dapp have <a href="https://x.com/podsdotmedia/status/1840064720017260796">seen</a> about 475,000 mints and $1 million in mint volume in the last year.</li>



<li>NFT trading volumes continue to trend down to <a href="https://x.com/punk9059/status/1840947500858962164">115,000 ETH</a> for the month of September, its lowest since January 2021. The number of unique NFT buyers is also down to <a href="https://x.com/punk9059/status/1841133514604880056">30,000</a>.</li>
</ul>



<h2 class="wp-block-heading">Also of note:</h2>



<ul class="wp-block-list">
<li>Pudgy Penguins is launching “<a href="https://x.com/pudgypenguins/status/1840496999457574915">Pudgy Arcade</a>” arcade machines across the US.</li>



<li>The first Bitcoin Ordinal NFT “<a href="https://x.com/ChristiesDigArt/status/1839353007261307134?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1839353007261307134%7Ctwgr%5E8d418a26defade81a84bfc41dc5535c51bc9848a%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fopensea.io%2Fblog%2Farticles%2Fopensea-digest-october-2-2024">Ascend</a>” will go on sale on Oct. 10 at a live Christie’s auction.</li>
</ul>



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