🎉New Disney NFT allows you to stand next to your favourite character

May 30, 2022

What up, family👨‍👩‍👧‍👦, 

Seedphrase Daily here 👋,  here to tell you what happened in the web3 space so you can get rid of that nasty hangover from your memorial weekend. Today’s estimated read time is about 3 minutes and 11 seconds. Stay tuned to where we talk about: 

  • 🎉 New Disney NFT allows you to stand next to your favourite character

  • 🤔 The true potential of NFTs 

  • 📉 Terra 2.0 finally drops. And then drops 

  • 👨‍🏫 Five resources that will help educate you on Web 3

New Disney NFT allows you to stand next to your favourite character  🎉

Veve has announced its partnership with Disney to release an NFT collectible. Yesterday, they collaborated with Stars Wars to release a 'The Dark Side' Collection that features iconic Sith Lords throughout the Star Wars™ galaxy. 

Before we talk about that, let's get into the Veve ecosystem. 

Veve is an NFT marketplace similar to OpenSea in the sense that you can buy and sell your digital collectibles. A critical difference between the two is that Veve offers you an augmented reality experience, allowing you to stand alongside your favorite characters and heroes in the real world. NFTs on the ecosystem can also be upgraded and customized, placed in virtual showrooms, and shared on social media.

Okay, back to the drop. 

There were three collectible levels: common, uncommon, and ultra-rare. These collectibles dropped through mystery boxes, and you didn't know which rarity you had until your purchase is successful. 

Did you manage to cop one? This might be worth watching for the future 👀

The true potential of NFTs 🤔

We've had a rough start to the year. However, there are still signs that the market is getting more prominent with the number of active NFT buyers and sellers growing.

Even though market conditions aren't in our favour, when looking at the bigger picture, the industry has come a long way since 2020 & 2021! According to Fortune magazine, more than $37 billion has been sent by cryptocurrency wallets to NFT marketplaces in 2022. That's nearly caught up to last year's $40 billion sent in 2021. 

That massive spike in activity was primarily due to popular NFT projects like Moonbirds, a collection of 10,000 pixelated owls that pulled in over $500 million in sales volume, and Otherdeeds, the Bored Ape Yacht Club metaverse land NFTs, that pulled in more than $700 million.

More platforms = more user accessibility. 

Comparing: Magic Eden vs. OpenSea 

NFT marketplace Magic Eden has topped OpenSea in daily transaction volume. Magic Eden has reported roughly 275,000 daily NFT transactions compared to OpenSea, which has seen approximately 50,000 transactions in the past 24 hours. Once we start seeing more utility( ticketed events, video games etc), people will get more accustomed to them and might have a larger-scale impact than what it is now. We are still in the early stages of this industry, so who knows what the future holds. 

Terra 2.0 finally drops. And then drops 📉

As you all know, the horrific depeg of the stable coin UST, never mind all the rumours. They acted fast and released Terra Luna 2.0, the new chain that aims to revive the Terra ecosystem.

The most noteworthy aspect of today's launch is the airdrop of new LUNA coins to Terra stakeholders on the Classic chain. They have been earmarked to receive 70% or (700 million) of the total LUNA 2.0 token supply. According to an official announcement, the amount of LUNA 2.0 airdrop each person gets varies depending on whether those tokens were held before or after UST's depeg. 

Can you guess what happened? 

The price started at $0.30 before skyrocketing to $30 in the first 30 minutes of trading. However, the high was short-lived as the price tumbled to just $5.30 in the following 3 hours as investors started to take their profits. Did you get a chance to play this? This should always be expected when a new release happens, buy the rumour, sell the news. 

Full articles 1 & 2

Five resources that will help educate you on Web 3 👨‍🏫

We are still in the bear market, and we might not see any changes in the near future, so the best thing to do is prepare yourself for the upcoming bull run. Here are five resources that will help educate you on Web 3:

It aims to onboard and train crypto-savvy engineers, teaching a wide range of programming languages applicable in crypto, with a few different boot camps that can take your skills to the next level.

An on-chain interactive platform that guides you through Web3! It teaches how to use and contribute to decentralized applications. RabbitHole users complete a set of on-chain tasks to compound their Web3 Skills. Users who complete all tasks in a Skill will earn a Soulbound on-chain Credential to show off + celebrate their learning. The credentials will unlock new earning opportunities as a result.

Upping knowledge of blockchain and cryptocurrency for you, exchange giant Binance has provided free courses to over 541,000 Africans! It is now across four countries: Benin, Cameroon, Ivory Coast, and Togo.

The social graph infrastructure for web3 is built on this chain. The shared data enables connections for everyone across Web3 platforms. They currently have over $13M in Series A funding.

Africa's adoption rate of crypto is now the highest globally. Jambo specializes in localized education through grassroots networks to onboard millions of new users to crypto and increases access to financial services. They have contributed towards empowering the next generation of Africans via web3 with over $30M in funding.

Fun fact: 

Shout out to this guy 📣

NewSeeds:

Sow the seeds… 

That’s a wrap for today! We’ll ease into the week with more educational lessons planned so stay tuned! What are some other utilities NFTs can have? Let us know and make sure to follow us on Instagram and Twitter. 

Let’s crush this week! 

See you tomorrow. ✌️ 💎

Meme of the Day 

Solana Summer LFG!!!!  🔥🔥🔥

Disclaimer

None of this is financial advice. This newsletter is strictly educational and is not investment advice or solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research! 

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