Business News & Articles

KIKI World announced funding from a16z crypto and The Estée Lauder Companies' NIV to empower a new era of community commerce.

The Deets

• Strategic Investments: a16z crypto and The Estée Lauder Companies' New Incubation Ventures lead KIKI's initial funding round.
• A Growing Ecosystem: Launches include the connected beauty product line and blockchain-powered consumer engagement.
• Innovation at Heart: Platform tools and applications set for April 2024 to revolutionize creator-brand-consumer interaction.
• Co-Creation and Rewards: Products and experiences designed by the community, for the community.

The Bulk

Founded in early 2023, KIKI moved from ambitious concept to a pioneering community commerce platform, now with notable backing of heavyweight investors like a16z crypto and The Estée Lauder Companies' New Incubation Ventures.

KIKI enables a dynamic platform where consumers co-create products, engage directly with brands, and earn rewards for their participation. The platform's initial offerings have focused on the beauty industry, with the Skin Development Kit and Pretty Nail Graffiti pen leading its product lineup.

KIKI is preparing to expand its toolset in April 2024.

🎤 Founder Feedback

🔜 What's Next?

KIKI is poised to unleash a new set of tools in April 2024 that will enable deeper connections between creators, brands, and fans. 

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Jupiter will launch its $JUP token on Jan. 31 at 10:00 a.m. ET, according to a tweet from the company's founder. 

The Deets

• JUP Launch Date: Jan. 31 at 10:00 a.m. ET
• Major Developments: Testing launch platform, executing public ceremonies, kickstarting Jupiter DAO
• Project Vision: Revolutionizing community engagement in DeFi

The Bulk

Jupiter is ended January (or Jupuary) with its highly anticipated $JUP launch. Scheduled for the final day of the month, the launch is not just about introducing a new token; it's the beginning of Jupiter's amibitious mission to redefine decentralized finance. 

The Jupiter team has been meticulously testing a new launch platform, designed to streamline launch processes. To start, it is being rigorously tested through mock and real memecoin launches.

Product updates and the finalization of the Jupiter White Paper are also in the pipeline. These will clarify strategic goals and plans, setting a clear path for the future of Jupiter's various product lines.

📊 By the Numbers

Pre-market allocations of $JUP are being sold on Whales Market for $0.64 at present time. 

🎬 Take Action

Mark your calendars for the Jupuary 31 at 10 a.m. ET to claim the launch of $JUP. Think you might be eligible? You can use free tools like the Solana airdrop checker to see if your wallets meet the eligibility criteria. No wallet connection is required. 

🔜 What's Next?

Post-launch, Jupiter plans to focus on community growth and developing new products. 

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Polygon Labs will relaunch Polygon Village with a 110 million MATIC grant to propel web3 innovation and support founders.

The Deets

• Grant Program: Over 110 million in MATIC for web3 projects.
• Comprehensive Support: Mentoring, resources, and ecosystem assistance.
• Inclusive Growth: Open to all projects at any development stage.
• Building Solutions: Addressing market needs with Village Build Ideas.

The Bulk

Polygon Village, an initiative aimed at bolstering the growth of web3 projects, has reignited its commitment to founders with a grant program boasting more than 110 million in MATIC. This initiative not only provides substantial financial backing but also pairs it with deep mentoring and ecosystem support, illustrating Polygon's dedication to fostering a nurturing environment for innovation.

By offering milestone-based grants and additional one-on-one support through the Village Build Ideas and the Village Startup Support programs, Polygon Village is tackling one of the fundamental challenges startups face: aligning products with market needs. Furthermore, the introduction of Quadratic Funding by partnering with Gitcoin and Giveth for grant rounds democratizes the allocation process, ensuring that the community's collective preferences are reflected in resource distribution.

🎬 Take Action

Polygon Village invites founders to apply for grants, explore a catalog of use cases, and leverage mentorship opportunities. 

View more on our NFT and web3 newsfeed.

OpenSea's valuation plummeted by 90% as Coatue Management revised estimates amidst NFT market downturn, according to an exclusive from The Information. 

The Deets

• Valuation Cuts: From $13.3 billion to a much lower figure.
• Series C Round: Coatue and Paradigm's $300 million investment in 2022.
• Market Climate: Persistent sales slump in NFT markets.
• Staff Reductions: OpenSea slashed its workforce by 50%.

The Bulk

OpenSea, once a crown jewel with a towering $13.3 billion valuation following a massive Series C funding round, is now facing a significant markdown by one of its leading investors, Coatue Management. This revision isn't just a small dent; it's a staggering 90% cut that underscores the volatility and current bearish sentiments in the crypto sphere.

The drop in OpenSea's valuation mirrors the broader NFT market's slowdown, which has seen weekly sales plummet from 176,000 to just 23,000 at the beginning of the year, a clear signal that the frenzy of 2021 and early 2022 has cooled substantially. Furthermore, OpenSea's decision to cut its workforce in half earlier in November points to a strategic scaling back, as companies brace for prolonged crypto winter conditions.

❗Why It Matters

This valuation cut reflects more than just a market correction; it's a stark indicator of the fragility of the NFT ecosystem in the face of broader economic headwinds, signaling caution for both investors and creators within this nascent space.

For more web3 and NFT news, visit the Lucky Trader newsfeed.

OpenSea launched a major update to collection pages, enhancing storytelling with new features like video banners and dedicated tabs for creators.

The Deets

• Immersive Experience: Video, images, and GIFs can now create a top banner.
• Enhanced Overview: New tab includes text, image, and video modules for deeper storytelling.
• Featured Elements: Creators can spotlight NFTs and related collections with ease.
• Simplified Updates: OpenSea Studio enables creators to easily customize their collection pages.

The Bulk

In a stride towards empowering creators and improving the collector experience, OpenSea has rolled out a revamped collection page design across its platform. The changes are not just cosmetic; they provide functional upgrades to facilitate better storytelling and brand presentation.

The key feature is the immersive top banner, which can now support dynamic video content, giving creators a new canvas to captivate their audience. With the introduction of the "overview" tab, creators are granted the freedom to elaborate on their project's narrative through flexible modules capable of housing text, images, and videos. This could cover anything from intricate worldbuilding tales to gameplay mechanics, or even exclusive membership benefits.

Additionally, the spotlight feature for NFTs and related collections means that creators can now direct attention to specific works or series, granting them more control over how their collections are discovered and perceived. Roadmaps, team introductions, and FAQs sections have also seen improvements, providing a more comprehensive understanding of projects directly on the OpenSea platform.

For creators, updating their collection pages is straightforward via OpenSea Studio. OpenSea encourages at least an update to the banner image to align with the new aspect ratio. The process is designed to be intuitive, with a new "Collection page" section in the collection editor, which offers both editing tools and a live preview option.

For collections that debuted through OpenSea, the "Overview" tab will automatically import elements from their drop pages, consolidating the drop and collection pages into a unified narrative front.

🔜 What's Next?

As OpenSea continues to develop tools that foster the growth of the NFT ecosystem, the community can expect ongoing enhancements that further bridge the gap between creators and collectors.

For more web3 and NFT news, visit the Lucky Trader newsfeed.

LooksRare overhauled the Gem earning mechanisms in Season 4, with a pivot towards YOLO gameplay and raffle participation.

The Deets

• No more Gems for low listings on LooksRare.
• Gem earnings now depend on YOLO gameplay and entering LooksRare Raffles.
• There's a total of 2,000,000 $LOOKS up for grabs in Season 4's Airdrop.
• Season 4 started on October 31 at 14:00 UTC and will continue for four weeks.

The Bulk

Season 4 of LooksRare is here, and it's bringing a major shift in the way users earn Gems. Gone are the days where listing lower on LooksRare would fetch you Gems. While Daily Quests, Milestones, and gm streaks still exist, they revolve around different objectives this time.

For those eager to earn Gems, the spotlight is on YOLO and participating in raffles on LooksRare. Activities such as being the first to throw ETH/LOOKS/NFTs into a YOLO pot, winning YOLO rounds, and entering LooksRare Raffles will be your ticket to Gem rewards. To help users understand the new system better, detailed documentation has been provided. And for those who like to be ahead of the game, participating early in YOLO rounds can greatly amplify Gem rewards.

The stakes are high this season with a whopping 2,000,000 LOOKS up for grabs in the Airdrop rewards. And for those who have unclaimed Airdrop allocations from Season 3, the clock is ticking. Claims can be made until the end of Season 4.

🧐 Wait, What?

YOLO is a game element introduced in LooksRare where users can throw in assets like ETH, LOOKS, or NFTs for a chance to earn rewards. The earlier you participate in a YOLO round, the better your rewards.

View more NFT and web3 news on the Lucky Trader newsfeed.

Arcade, a leading NFT lending protocol, decentralized the Arcade Protocol and governance with the launch of ArcadeDAO and the ARCD token today. 

The Deets

• Arcade V3 is immutable and governed by the ArcadeDAO.
• ARCD, a new governance token, allows community participation in ArcadeDAO's decision-making.
• The first ARCD airdrop claim is live, targeting over 6,000 early adopters and community members.
• Ongoing ARCD airdrop distributions planned, with Level 1 details coming soon.

The Bulk

Arcade is doubling down on decentralization, announcing the launch of ArcadeDAO and the ARCD token. At the heart of this move lies the Arcade V3 protocol, which stands immutable with its parameters directed by the ArcadeDAO.

This initiative ensures that the protocol eliminates any central failure points and remains adaptable, aiming for long-term success. With its governance anchored within the ArcadeDAO, the Arcade Protocol is emblematic of a web3 ethos. The open-source nature of the project encourages builders and developers to contribute, leveraging its expansive user and liquidity base.

ARCD, the new governance token, will serve as a cornerstone, enabling a distributed community to participate actively in the decision-making processes. This involvement is tangible right from the start, with the first ARCD airdrop already live, reaching out to over 6,000 early adopters and community members. As for future distributions, Arcade teased "Levels," with Level 1 details set to be unveiled soon.

Looking forward, as ArcadeDAO embarks on its on-chain governance journey, the Arcade Protocol's reins are now handed over to the token holders. This shift in control underlines ArcadeDAO's intent to lead in NFT finance, protocol development, and the coordination of human and capital resources.

As part of the first token claim, ARCD tokens are not yet tradeable. In order to trade the tokens, a formal governance proposal will need to be submitted and approved by governance holders. 

🎤 Platform Prose

🔜 What's Next?

Stay tuned for more updates on ArcadeDAO, which is on its way to becoming the premier P2P NFT lending protocol fully governed by an on-chain DAO.

🎬 Take Action 

Users of the Arcade platform can check for a potential ARCD token claim now. Tokens are not yet tradeable. 

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Blockaid, a web3 security firm, emerged from stealth and announced $33 million in funding from leading global investors like Variant Fund and Sequoia. 

The Deets

• Founded by seasoned Israeli cyber intelligence experts.
• Partnerships with MetaMask, Rainbow, and OpenSea. 
• More than 450 million transactions were scanned in 6 months.
• Prevented 1.2 million malicious activities and safeguarded $7 billion in assets.

The Bulk

A year since its inception, Blockaid has already made significant strides in web3 security. Today the company emerged from stealth and announced a $33 million funding round, led by notable investors like Variant Fund and Sequoia. 

Though operating in stealth, Blockaid has notched notable partnerships with some of the biggest brands in web3 like MetaMask, OpenSea, Zerion, and others. Its mission? Defend millions of web3 participants from fraud, phishing, and hacks in an environment where challenges are paramount.

The company reported it scrutinized more than 450 million transactions, defending against 1.2 million malicious attacks, safeguarding $500 million in user funds and $7 billion in assets overall. 

📊 By the Numbers

In 6 months, Blockaid reportedly:

• Scanned 450 million transactions.
• Prevented 1.2 million harmful transactions.
• Protected $7 billionworth of assets.
• Secured $500 million in potentially vulnerable user funds.

🎤 Founder Feedback

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Forj, an Animoca Brands subsidiary, officially launched the $APE Accelerator, a web3 accelerator backed by ApeCoin DAO, focusing on fostering projects that enhance the ApeCoin ecosystem.

The Deets

• $APE Accelerator: A community-driven web3 accelerator designed to promote projects that add value to the ApeCoin ecosystem.
• Applications Now Open: Successful applicants get a chance to showcase their Web3 business ideas to an ApeCoin community with over 200,000 members.
• Funded by ApeCoin DAO: The accelerator was conceived after the successful approval of AIP-209, a proposal from the ApeCoin DAO’s Idea Proposal (AIP) system.
• Support Mechanism: $APE token holders can back approved projects via the APE Launchpad by buying NFTs, other tokens, and voting on project proposals.

The Bulk

Forj, part of the Animoca Brands family, stepped up its commitment to the ApeCoin community with the launch of its $APE Accelerator. This accelerator, funded by the ApeCoin DAO, is community-driven and primarily focuses on projects that can amplify the ApeCoin ecosystem's utility and value.

The pathway for this launch was cleared by the successful nod for AIP-209, a proposal within the ApeCoin DAO’s Improvement Proposal system. 

🎤 Founder Feedback

🎬 Take Action

For projects interested in the $APE Accelerator, applications can be submitted directly through apecoinaccelerator.com.

For more web3 and NFT news, visit the Lucky Trader newsfeed.

NFTfi rolled out a significant protocol upgrade, introducing the ability to support loans for up to five years and more, with the inaugural 2-year loan secured on a Chromie Squiggle.

The Deets

• Multi-year Loans: NFTfi now provides loans ranging up to 5 years.
• First 2-Year Loan: A Chromie Squiggle has been used to secure the first-ever 2-year loan at 10% APR and ~74% LTV.
• Support for ERC-1155 Assets: The upgrade will soon support diverse real-world assets like art, collectibles, real estate, and intellectual property as NFT collateral.
• Additional Features: Other powerful features to be released by year-end, including refinancing and pro-rata interest repayments.

The Bulk

NFTfi just announced its major protocol upgrade. Previously, the maximum loan duration was capped at a year. However, this recent upgrade dramatically changes the game by offering loans for durations stretching up to five years. 

Furthermore, the protocol's forthcoming support for ERC-1155 assets promises to revolutionize the lending landscape. It means users will soon be able to pledge diverse assets like physical art pieces, collectibles, real estate properties, and even intellectual property in the form of NFTs as collateral.

As we approach the year's end, NFTfi users can anticipate the rollout of other robust features, including options for refinancing and pro-rata interest repayments. The upgrade, while significant, requires users to be attentive. New contract addresses have been introduced, and existing loans will continue on their current contracts. Those intending to renegotiate must act before the end of 2023.

🔜 What's Next?

While NFTfi platform has introduced several upgrades, more features will be rolling out by year's end. Users should keep an eye out for refinancing options and pro-rata interest repayment methods.

🎬 Take Action

For users of the NFTfi platform, it's crucial to acquaint yourself with the new smart contract addresses. If you intend to renegotiate your loans, make sure to do so before December 31, 2023.

For more web3 and NFT news, visit the Lucky Trader newsfeed.