TFC Newsletter: 01/05/2023

Web3 Music Ecosystem Explained, 2 Big Web3 Shutdowns, Web3 No-Code Tooling, Crypto Payments, Web3 Security, NFT based Rewards, and more!Web3 Music Ecosystem Explained, 2 Big Web3 Shutdowns, Web3 No-Code Tooling, Crypto Payments, Web3 Security, NFT based Rewards, and more!

Author

ToolsForCrypto Admin
January 05, 2023

đź’ˇ Intro

🚨 Important note: be careful when buying from MagicEden today! They’ve had an exploit on their site where malicious parties somehow altered the sales history data on popular NFT collections, resulting in people buying worthless NFTs after clicking through historical records. While the exploit is confirmed by MagicEden, users have displayed that the bug is still not fixed.

One of the highlights of Web3 in 2022 was the rise of Creator NFTs and the tools/infrastructure to support them.

From on-chain analysis: many big artists have created NFT collections and indie artists are adopting them as well.

As the investment side of NFTs cooled off, NFTs used collector/fan utility have risen.

If you’re interested in diving into the ecosystem: Musicben.eth put out this great post on the Web3 Music Ecosystem, detailing over 140 companies & projects.

Checkout his full post, link to it on Substack is in his tweet thread below:

Yesterday: 2 big shutdowns were announced that are worth noting: Wyre and NFTInspect.

Crypto payments and infrastructure provider company Wyre closed, months after a $1.5 billion deal fell through to buy the firm.

NFTInspect was a tool we featured here in the past. It was extremely useful for tracking the ranking of NFT projects on social media and was one of the most used tools in the NFT space.

  1. Crypto gaming project Calvaria raises $2.5M in presale for development on the Polygon network, announces IEO on BKEX - CoinTelegraph Link

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Hodlperks

"Where brands and NFT creators work together"

Type of Product: NFT Rewards

Purpose of Tool: Hodlperks provides content creators, teams, and brands with the opportunity to interact with NFT communities while providing rewarding experiences. Hodlperks aims to incentivize these communities by offering exclusive perks for their engagement in an effort to benefit everyone involved ultimately.

  • NFT reward communities - Brands can create exclusive discounts and deals tailored towards Hodlers of specific types or categories of digital assets.

  • Exclusive partnerships with web2 & web3 brands that provide special offers to our community, from hardware products, software licenses, travel packages such as hotels/resort stay at discounted rates, etc. All available for redemption just by owning a certain asset(s).

  • Secure ownership transfer system – Quickly buy without the hassle that often comes when buying on decentralized marketplaces like OpenSea.

Team / Funding / Backers / Other Info: Hodlperks kicked off its season 2 along with the 4 NFT communities who joined Hodlperks in Season 1, adding the ability to create custom perks for NFT creators and batch codes to give their community. This also includes the beta testing of their new Chrome extension. As of this writing, Hodlperks is now working with over 50 major brands.

Lossless

“Restoring Trust in Web3 Security"

Type of Product: Security

Purpose of Tool: Lossless is a protocol designed to protect ERC-20 standard tokens from malicious threats and exploits that could otherwise result in financial loss. It provides an additional layer of security on top of blockchain transactions, with near-instant response times for any attempted exploitation or theft.

  • Community Driven Threat Identification | The use of community-driven threat identification tools allows users to quickly respond when a suspicious activity has been identified

  • Stake Based Reporting System | This system enables users not only to see who flagged potential issues but also allows them, through stake-based rewards, to incentivize others within the network if they successfully identify malicious behaviors before it’s too late

  • Real Time Protection | With its almost instantaneous responses rates due to fraudulent behavior can be frozen right away, diminishing their long-term repercussions

Team / Funding / Backers / Other Info: On May 2021, Lossless announced a $2.245M raise through a private sale round led by DAO Maker. The Private Sale Token Allocation was 29,155,000 LSS with a 0.077 USD Token Price. The investors are comprised of the following institutions, projects, and individuals such as Master Ventures, X21, Magnus Capital, Hacken, Chandler Song and Ryan Fang (founders of ANKR and Bounce), Poolz, and CyberFi.

Poof

“Empowering millions of digital businesses & creators with payments from crypto to fiat."

Type of Product: Payments Tool

Purpose of Tool: Poof is a cutting-edge web3 infrastructure that allows users to move their crypto and fiat money quickly and securely. With Poof, accepting payments across all major payment networks has never been easier or faster.

  • Accept credit cards (Visa, MasterCard, American Express & Discover) and support for multiple digital currencies, including Bitcoin, Solana, Litecoin, XRP, and Dogecoin.

  • Accessible Payment Gateways such as Cash App Venmo Stripe Skrill Paypal, and Web 3 Payments with Ethereum Near Polygon Avalanche Moonbeam

  • Crypto Wallet API develops blockchain wallets or utilizes their rails to facilitate the transfer of funds from one network stream into another seamlessly.

  • Proof's Checkout solution allows you to create an online store or accept payments on your website quickly & securely.

  • Payment Sharing allows developers & merchants alike to build platform connections similar to Venmo’s using Poof's ACH API

Team / Funding / Backers Info / Transaction Amount: On October 2022, Poof announced that it will support the Fantom (FTM) cryptocurrency on its platform as part of its financial payments infrastructure expansion. This allows businesses that use Poof's products to easily accept FTM payments and allow customers to use FTM to pay for goods and services. The integration of FTM into Poof's platform provides customers with more opportunities to use blockchain technology.

ICME

"The web3 Product Lego™ company."

Type of Product: No-Code Building Tool

Purpose of Tool: ICME allows users to easily create digital collectibles, mint NFTs, and securely store documents and data on the decentralized web without having any coding experience or specialized technical knowledge.

  • Access tokenized loyalty programs, safely accept credit card payments for NFTs or other services, and monetize their content on-chain with no gas fees.

  • Launch NFT markets & loyalty programs in minutes, accept payments via credit cards or DeFi modules like tokenization - all while ensuring data privacy thanks to zero-knowledge proof protocol verification technology.

  • Effortlessly integrate third-party web services such as websites like MailChimp, and DropBox into your app via Oracle creation & modification through DeFi modules, including enhanced security protocols backed by zero-knowledge proof verification.

Team / Funding / Backers / Other Info: ICME has received multiple grants and awards for its cutting-edge web3 technology. In October 2021, the company was awarded a grant from the DFINITY Foundation's developer program to build on the Internet Computer. This grant program, which has committed $1,780,000 to 93 projects since May 2021, is one of the largest in the blockchain sector.

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Disclaimer: None of this is to be deemed legal or financial advice of any kind. Always DYOR!