Research Summary
This report provides updates on various projects in the blockchain and cryptocurrency space. Key topics include the Celestia Genesis Airdrop, Walmart’s sale of NFT toys, GMX’s funding application for 14 million ARB tokens, OpenAI’s stock sale plans, Buenos Aires’ launch of a digital identity protocol, Linea’s introduction of a Soul-Binding Token, Uniswap Foundation’s fundraising proposal, MakerDAO’s increase in RWA assets, Tottenham Hotspur’s launch of a fan token, and a police investigation into the GameFi project Tiny World.
Key Takeaways
Celestia Genesis Airdrop
- Token Allocation: Celestia’s airdrop will distribute 60 million TIA tokens to developers and addresses associated with Ethereum rollups, Cosmos Hub, and Osmosis. The allocation includes tokens for contributors to research and public products, early adopters of the modular ecosystem, and Cosmos Hub and Osmosis validators.
- Company Valuation: Celestia was valued at $1 billion in 2022 and successfully raised $55 million in funding.
OpenAI Stock Sale
- Valuation Increase: OpenAI is discussing selling existing stocks, valuing the company between $80 billion and $90 billion, roughly three times its valuation earlier this year.
- Revenue Projections: OpenAI projected its revenue to reach $1 billion this year and several billion dollars by 2024.
Buenos Aires’ Digital Identity Protocol
- QuarkID Launch: Buenos Aires is launching an open-source blockchain-based digital identity protocol called QuarkID to streamline citizens’ access to public services.
- Collaborative Effort: The QuarkID wallet is a collaborative effort between the government, Extrimian, and Matter Labs. It integrates document storage through zkSync Era’s blockchain framework.
Linea’s Soul-Binding Token
- Voyage XP Launch: Linea announced the launch of the Soul-Bound Token (SBT) called Voyage XP, which represents the contributions of each community member to the ecosystem’s development.
- Token Features: Voyage XP is non-transferable, cannot be moved to other networks, and holds no monetary value. However, holders are entitled to certain privileges.
GMX’s Funding Application
- ARB Tokens Request: GMX has submitted a grant proposal to the Arbitrum DAO’s Short-Term Incentive Program (STIP), requesting up to 12 million ARB tokens for its V2 version incentives and an extra 2 million ARB tokens for ecosystem partners.
- Proposal Focus: The proposal primarily focuses on converting CEX users into DEX users, promoting the development and integration of the Arbitrum protocol on GMX V2, targeted liquidity provision incentives, and nurturing an active on-chain trading environment.
Actionable Insights
- Investigate the Potential of Celestia: With its successful funding and upcoming airdrop, Celestia presents an interesting case for blockchain development and token distribution strategies.
- Consider the Implications of OpenAI’s Valuation: OpenAI’s significant increase in valuation and projected revenue growth highlight the potential of AI technology in the market.
- Explore the Use of Blockchain for Public Services: Buenos Aires’ launch of the QuarkID digital identity protocol demonstrates the potential of blockchain technology in streamlining public services.
- Understand the Role of Community Tokens: Linea’s launch of the Voyage XP token underscores the importance of community engagement in blockchain ecosystems.
- Assess the Impact of DAO Funding: GMX’s funding application to the Arbitrum DAO’s STIP illustrates the role of DAOs in supporting blockchain project development and ecosystem growth.
