Nfts

On the path to Vanta DAO decentralization

Published

10 months ago

19 June, 2024

On the path to Vanta DAO decentralization

NFT-controlled investment DAO Vanta made serious progress on the path to decentralization.

Originally launched as an investment syndicate by Josh Field and Mike Grantis in 2021 (its founders transfer ownership of the entire company to its community), the holders of the Vanta Club NFT.

“We are going through this process of decentralization,” Field said at the press conference. Hash Rate Podcast. That means “giving up what is essentially a million-dollar company to the community that provides a lot of the capital and a lot of the value to the founders we invest in.”

What is Vanta?

Grantis and Field initially launched Vanta as a community of friends, builders and trendsetters in the Web3 space. “We’ve syndicated a lot of capital among the trendsetters, people who really have an ear for Web3. Builders, thought leaders, angel investors and marketers,” Field said.

The model was simple: the two partners would find deals themselves, offer them to the Vanta community and take a portion of the investments made by the community – initially 10%, dropping to 5% since the NFT launched in February 2024, with investments reserved for NFT holders. Vanta quickly grew to over 250 notable members, including Mark Jeffrey, Mario Nawful, Ryandcrypto, Farokh, and Seedphrase. To date, they have deployed over $12 million in capital, with notable investments including Portal Gaming, which has enabled Vanta members to increase their returns by 20x.

While there is no shortage of investment syndicates, Vanta has differentiated itself in terms of the quality of deal flow, low fees, and the quality of its investors themselves. As Vanta was overwhelmed by thousands of membership applications from new members, Grantis and Field decided it was time to take the next step in its evolution, transforming it into a decentralized, autonomous organization (DAO).

Investment DAOs were one of the first DAO use cases to catch fire after the invention of the Moloch DAO framework, which restricts governance of the DAO to approved members. Giving groups of people the ability to coordinate capital and deploy it on-chain in a decentralized manner has been a major boon to the crypto industry and to on-chain coordination as a whole.

Today, five years after the launch of Moloch DAO, there is Investment DAO and unions of all shapes and sizes. They allow investors from all backgrounds to access deal flows typically reserved for venture funds and create a sense of transparency not found in traditional investment syndicates.

It takes two to Contango

As they prepared to transform the Vanta syndicate into the DAO, Grantis and Field launched their own venture capital fund, Contango Digital. Their goal was always to create a fund, but after seeing the vibrant community they had built within Vanta, letting it fade away was not an option.

“Why break that up?,” Field said. “Why not go on and do something even bigger?” Take this business, which has essentially generated millions of dollars in revenue, and turn this vehicle over to the community and let it run on its own.

They sought to create a symbiotic relationship between Vanta and Contango that could benefit both, while creating the infrastructure Vanta needs to operate autonomously, managed entirely by its members.

Although Vanta already has a community of well-known crypto builders and thought leaders, Field and Grantis believe it needs even more if it wants to reach the same heights as its centralized competitors. “If we want Vanta to be on the same cap table as funds like A16z… we need to provide incredible value and leverage,” Field said. “The best way to do this is to recruit members who are high-value members of the crypto space.”

In order to attract even more high-quality members, its founders believe that Vanta needs to decentralize and that many in the crypto industry would not be as attracted to an investment syndicate that was essentially owned and managed by a fund , compared to a syndicate that was essentially owned and operated by a fund. they owned and controlled as members.

Contango shares its entire deal flow with Vanta, a deal flow that non-VC investors typically don’t have access to. Vanta, in turn, offers a sort of “decentralized due diligence” process on projects proposed by Contango. With the Vanta community filled with leading builders, KOLs, and investors, they provide “the wisdom of the public,” a breadth and quality of due diligence that could not be accomplished with a closed, traditional team.

The path to decentralization

As Vanta continues its path toward decentralization, there is still much work to be done. Currently, Grantis and Field generate 90% of the transaction flow and for Vanta to function as a DAO, this needs to change. The two men felt that by doing the majority of the deals, they were becoming a bottleneck to Vantas’s growth.

“There are so many different transactions that we don’t have access to or visibility into,” Grantis said. “And there are other people in different sectors of the industry who have more specialized connections to different sectors. We want to give these people the opportunity to make deals and also get paid for it.

They focus on dividing the DAO into distinct roles, including Researchers and Deal Scouts. Deal Scouts would bring potential deals to the DAO; if the DAO community is interested, the scouts receive a commission and the agreement is passed on to the researchers. The researchers would then write in-depth reports and would also be paid through the DAO.

Vanta is currently working with Decent DAO to move to a DAO structure and create a governance system and process. They expect the process to take about six months, meaning Vanta could be entirely in the hands of its community as early as next November.

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Nfts

NFTs Maintain Upward Momentum, Sales Volume Surpasses $107 Million

Published

9 months ago

21 July, 2024

SatoshiTimes Staff

NFT weekly sales drop 9% to $145m, Bitcoin leads despite downturn

Non-fungible tokens, or NFTs, saw sales volume surge for the second week in a row, reaching $107 million, an increase of 8.5%.

A substantial increase in the number of NFT Buyers accompanied this growth, reaching 488,141 — a staggering increase of 89.56%.

On the other hand, the number of NFT sellers also increased by 69.8%, totaling 198,450, signaling an improved business environment and increased market engagement.

Below is a look at what happened in the NFT market over the past week.

Ethereum Maintains Leading Position While Solana and Bitcoin Follow

Blockchains by weekly NFT sales volume | Source: CryptoSlam

Over the past few weeks, Ethereum (E T H) continued to dominate the NFT market with $36.6 million in total sales, driven by 35,236 buyers, a 46.31% increase from the previous week.

Solana (GROUND) has emerged as a serious competitor, recording total revenue of $26.15 million, thanks to a substantial 114.07% increase in the number of buyers.

Bitcoin (Bitcoin) The NFT market also saw a notable surge, with total sales reaching $21.4 million, thanks to a staggering 222.29% increase in buyers.

Polygon (MATICS), which had the second best performance the previous week, saw its total sales volume drop by more than 15%, dropping it to 4th place just ahead of Immutable (IMX).

Other notable performances were achieved by Zora and Blast, which recorded the two largest percentage increases in sales volume, at 463% and 227% respectively.

Best Collections: Solana Monkey Business Shines

NFTs Maintain Upward Momentum, Sales Volume Surpasses $107 Million - 2 Ranking NFT collections by weekly sales volume | Source: CryptoSlam

Among the top NFT collections, Solana Monkey Business came out on top with $4.86 million in sales, an increase of 168.38%. The collection also saw a significant increase in transactions (137.34%) and buyers (130.84%).

The DMarket collection on the Mythos blockchain, which recorded $4.01 million in sales, came in a close second. Interestingly, this is the only collection among the top 5 by sales volume to see a decline in the number of transactions and buyers.

Immutable’s Gods Unchained cards also made headlines with $3.8 million in sales, an increase of 61.35%. This collection saw notable growth in both transactions (76.31%) and buyers (41.21%), a testament to the growing popularity of blockchain-based trading cards.

Best-Selling NFTs and Fan Tokens

In terms of individual sales, Ethereum’s Autoglyphs #167 led with a sale of $274,561, followed by Bitcoin’s Protoshrooms with $148,574. Other notable sales included BNB’s kNFT: Locked kUSDT and Arbitrum’s Umoja Synths, highlighting the diversity and breadth of the NFT market across different blockchains.

NFTs Maintain Upward Momentum, Sales Volume Surpasses $107 Million - 3 Top 5 Fan Tokens by Sales Volume

As can be seen in the table above CryptoSlamFan tokens also continued to see explosive growth, with Galatasaray’s token on the Chiliz blockchain recording a turnover of $280.5 million. This reflects an increase of 70149.47%.

FC Barcelona and Paris Saint-Germain followed with substantial sales volumes, indicating the growing popularity of sports-related NFTs.

Market consequences

The latest performance of the NFT market marks a significant turnaround, demonstrating resilience and renewed investor interest after a period of declining sales volumes.

This is the second consecutive week of improved sales, suggesting a potential upward trend. It is worth noting that this resurgence comes amid a broader recovery in the cryptocurrency market, which is currently valued at $2.55 trillion.

Major cryptocurrencies like Bitcoin, Ethereum, BNB, and Solana have all registered Prices have risen by double digits over the past week, further fueling optimism in the digital asset sector.

The correlation between rising cryptocurrency prices and the recovery of the NFT market could be an indication of strengthening investor confidence, setting a positive tone for the coming weeks.

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APENFT’s One-Day Trading Volume Hits $16.67 Million (NFT)

Published

9 months ago

21 July, 2024

SatoshiTimes Staff

APENFT's One-Day Trading Volume Hits $16.67 Million (NFT)

APENFT (NFT) fell 0.3% against the U.S. dollar in the 24-hour period ending at 9:00 a.m. ET on July 21. APENFT has a market cap of $8.54 million and $16.67 million worth of APENFT was traded on exchanges over the past day. Over the past week, APENFT has been trading 3.1% lower against the US Dollar. One APENFT token can now be purchased for around $0.0000 or 0.00000000 BTC on major cryptocurrency exchanges.

Here’s how other cryptocurrencies performed over the past day:

KILT Protocol (KILT) is up 1.9% against the dollar and is now trading at $0.20 or 0.00000302 BTC.
Aidi Finance (BSC) (AIDI) fell 2.2% against the dollar and is now trading at $0.0000 or 0.00000000 BTC.
Zoo Token (ZOOT) fell 2.2% against the dollar and is now trading at $0.0652 or 0.00000239 BTC.
CareCoin (CARES) fell 2.2% against the dollar and is now trading at $0.0809 or 0.00000297 BTC.
Kitty Inu (KITTY) rose 1.9% against the dollar and is now trading at $95.84 or 0.00338062 BTC.
Hokkaidu Inu (HOKK) rose 1.2% against the dollar and is now trading at $0.0004 or 0.00000001 BTC.
Jeff in Space (JEFF) fell 2.2% against the dollar and is now trading at $2.75 or 0.00010076 BTC.
Lumi Credits (LUMI) fell 0.7% against the dollar and is now trading at $0.0128 or 0.00000019 BTC.
AXIA Coin (AXC) fell 0.1% against the dollar and is now trading at $13.43 or 0.00048094 BTC.

About APENFT

APENFT launched on March 28, 2021. The total supply of APENFT is 999,990,000,000,000 tokens and its circulating supply is 19,999,800,000,000 tokens. The official website of APENFT is apenft.orgThe official APENFT Twitter account is @apenftorg and his Facebook page is accessible here.

According to CryptoCompare, “APENFT is a blockchain-based platform created by the APENFT Foundation to create, buy, sell, and trade non-fungible tokens (NFTs) on the TRON and Ethereum networks. It allows for the ownership and trading of unique digital assets such as artwork, music, videos, and more. It also provides tools for artists and creators to create and promote their own NFTs, as well as participate in community events and governance.”

APENFT Token Trading

It is not currently generally possible to purchase alternative cryptocurrencies such as APENFT directly using US dollars. Investors wishing to acquire APENFT must first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as CoinbaseGDAX or Gemini. Investors can then use their newly acquired Ethereum or Bitcoin to purchase APENFT using any of the exchanges listed above.

Receive daily news and updates from APENFT – Enter your email address below to receive a concise daily summary of the latest news and updates for APENFT and associated cryptocurrencies with FREE CryptoBeat Newsletter from MarketBeat.com.

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Next US Vice President JD Vance Holds Bitcoin and NFTs, Expected to Boost MATIC and Algotech Post-Election

Published

9 months ago

21 July, 2024

SatoshiTimes Staff

Next US Vice President JD Vance Holds Bitcoin and NFTs, Expected to Boost MATIC and Algotech Post-Election

The blockchain technology landscape is about to transform as JD Vance, the likely next US vice president, emerges as a strong advocate for digital assets. Recent reports suggest that Vance not only holds Bitcoin (BTC) and NFTs, but is also willing to back promising blockchain initiatives like Polygon (MATIC) and Algotech (ALGT) post-elections.

JD Vance’s Cryptocurrency Investments Highlight Shift in Government Perspective

U.S. Senator JD Vance has garnered considerable attention for his recent investments in Bitcoin (BTC) and NFTs. Public records indicate that he owns between $100,000 and $250,000 worth of Bitcoin (BTC), indicating considerable interest in the success of the cryptocurrency market. This level of financial commitment from a high-profile government figure is unprecedented and underscores the growing credibility and promise of digital assets.

JD Vance’s interests extend beyond Bitcoin (BTC) to non-fungible tokens (NFTs), with reports suggesting his involvement in acquiring notable pieces from renowned collections. While the details of his NFT portfolio remain unknown, those who know the senator confirm his foray into this field.

This exploration of NFTs underscores Vance’s openness to exploring innovative and artistic applications of blockchain technology beyond cryptocurrencies’ typical role as assets or means of exchange. Vance’s involvement with cryptocurrency stands in stark contrast to the views of many of his peers in Congress, who often express doubt or hostility toward digital currency.

His direct involvement as an investor and user of these technologies gives him a unique perspective on their potential benefits and drawbacks. This practical understanding is likely to influence his stance on policy and regulation should he take on the role of vice president.

Polygon (MATIC) Hits $0.53, Eyes Breakout Amid Market Slowdown

The Vance administration, known for its support for cryptocurrencies, could significantly boost Polygon (MATIC), a major Ethereum layer 2 scaling project. MATIC has already attracted the attention of the developer community for its innovative solutions.

Even so, regulatory uncertainties have slowed widespread adoption and integration with traditional financial systems. Vance’s backing could serve as a driving force to unlock Polygon’s untapped capabilities.

A recent look at the MATIC token shows that its current trading value is $0.53, which represents an increase of over 2% in the last 24 hours. This surge coincides with a downturn in the broader cryptocurrency market, signaling solid fundamental strength and a growing sense of confidence among investors regarding Polygon’s future prospects.

Based on technical indicators, MATIC appears to be facing a resistance level that has persisted for several months, hinting at a potential breakout that could propel prices towards the previous peak around $1.29.

MATIC’s cutting-edge technology has taken a significant leap forward with the introduction of the Plonky3 zero-knowledge proof system. This innovation in zk-rollup technology is set to revolutionize MATIC’s scalability and efficiency, cementing its position as the premier choice for developers and enterprises.

Algotech (ALGT) Eyes $1 Price Hike When Its Exchange Launches

Algotech, a project that has attracted the interest of crypto enthusiasts and JD Vance, aims to transform algorithmic trading in the cryptocurrency space. Through the use of artificial intelligence and machine learning, Algotech offers advanced trading strategies to ordinary investors.

The platform’s innovative approach and ambitious roadmap are in line with JD Vance’s goal of driving financial innovation and making sophisticated investment tools more accessible to all. Algotech’s decentralized structure stands out, aligning perfectly with the core principles of blockchain technology.

By cutting out the middleman and giving users direct authority over their trading algorithms, Algotech embodies the essence of financial independence advocated by many in the crypto community, including Vance. This common ground makes Algotech a natural choice for endorsement by crypto-friendly leadership.

As Algotech’s pre-sale gains momentum, with over $9.6 million in funding, excitement is building for its official launch. Analysts have set lofty price targets, with some even suggesting that ALGT could surge to $1 shortly after it goes public.

While it’s wise to approach these predictions with caution, the combination of Algotech’s cutting-edge technology and the potential backing of key figures like JD Vance could pave the way for significant growth and adoption.

Learn more:

Visit Algotech Presale

Join the Algotech community

Disclaimer: This is a paid release. The statements, views, and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of any information available in this content. Do your research and invest at your own risk.

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OG Crypto Artist Trevor Jones Unveils Groundbreaking Collection of Ordinals | NFT CULTURE | NFT News | Web3 Culture

Published

9 months ago

21 July, 2024

SatoshiTimes Staff

OG Crypto Artist Trevor Jones Unveils Groundbreaking Collection of Ordinals | NFT CULTURE | NFT News | Web3 Culture

Trevor Jones’ New Genesis BTC Collection: CryptoAngels

Known for his innovative blend of physical and digital art, Trevor Jones continues to push the boundaries of the NFT space with his latest collection, CryptoAngels. Since his foray into Bitcoin-themed artwork in 2017, Jones has garnered a significant following, cementing his reputation with record-breaking sales and community events.

The Bitcoin Angel Journey

In 2021, Jones made headlines with his Bitcoin Angel open edition, selling 4,158 editions for an incredible $3.2 million in just seven minutes. This success paved the way for his latest venture, where he combines art, community, and technology in new ways. His annual Castle Parties, celebrating art, culture, and charity, have further cemented his place in the Web3 world.

CryptoAngels Collection Review

Jones’ CryptoAngels collection is divided into two main stages: Archangels and CryptoAngels.

Step 1: The Archangels The initial phase, Archangels, saw 21 collector’s packages sold for 87.9 ETH (approximately $335,291). Each package included:
- A physical bronze sculpture of the Bitcoin angel
- A 3D NFT avatar
- An Archangel Ordinal
Esteemed collectors like ModeratsArt, Batsoupyum, Bharat Krymo, Blondie23LMD, and 1Confirmation now lead the CryptoAngel army as Archangel Collectors.
Step 2: CryptoAngels The second phase, set to launch on August 7, features 7,777 unique CryptoAngels. These will be available for minting via OrdinalsBot, starting with a whitelisting phase. Each CryptoAngel is distinct and named by Jones himself. The collection is organized into 21 cohorts, each associated with one of Archangel’s collectors, fostering sub-communities within the larger collection. Additionally, there are seven 1/1 CryptoAngels, making them exceptionally rare and not aligned with a cohort.

Connecting Bitcoin and Art

Jones, who has been a strong Bitcoin supporter since mid-2017, expresses his deep connection to the crypto community. He sees the CryptoAngels collection as a tribute to that community, bringing his iconic Bitcoin Angel motif to the blockchain.

“I have been personally investing in Bitcoin since mid-2017 and its ethos quickly inspired me in my crypto art journey. I have followed the growth of Ordinals since its inception and the CryptoAngels collection is my offering to a community that has welcomed me with open arms and given me the opportunity to bring my Bitcoin Angel motif to the chain where it was always meant to be,” said artist Trevor Jones.

Collectors’ opinions

“Bitcoin’s OG artist Trevor Jones, behind the Bitcoin Angels depositing ordinals on the immutable chain is a match made in crypto-native art heaven.” – Bharat Krymo (@krybharat – Archangel Collector)

“The 2018 Bitcoin Angel oil painting is one of the first crypto tributes to Bitcoin, so CryptoAngels on Ordinals is a natural extension of Trevor’s artistic journey” – batsoupyum (Archangel Collector)

Interactive experience and limited editions

Rounding out the collection, 21 special Angels will be available to mint for $7 each on Base, playable in the exclusive retro arcade game, Dante’s Pixel Inferno. The game challenges players to guide their Angel through the nine circles of Fiat Hell, collecting Bitcoin and earning rewards. Each Angel in the game has unique abilities and weapons.

Whitelisting Opportunities and Community Engagement

Whitelisting (WL) opportunities are available through community partnerships, existing Bitcoin Angel OE and Trevor’s Ascended Angels holders, and weekly giveaways. To stay up to date and secure a spot on the whitelist, join Trevor Jones’ active Discord community.

TL;DR

Trevor Jones is launching the CryptoAngels collection on August 7th, building on his Bitcoin Angel legacy. Split into two stages, Archangels and CryptoAngels, the collection includes unique NFTs and physical artworks, fostering strong community connections. Exclusive gaming experiences and limited minting opportunities enhance engagement. Join the Discord for your chance to win.

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