🏢 Crypto Adoption in 2024: How Corporates Are Embracing Blockchain
Web2 corporates are finally catching up with blockchain’s potential, and it’s a huge opportunity for Web3 startups to lead the charge. 🚀 Here are some big names diving in:
◾️ Nike – Building a virtual marketplace with NFTs
◾️ Starbucks – Tracing coffee origins via blockchain
◾️ HSBC – Streamlining cross-border trade with blockchain
◾️ Visa – Testing tokenized assets for banks
◾️ PayPal – Enabling crypto transactions for U.S. merchants
The future is decentralized, and as more companies move into crypto, Web3 founders need to stay ahead by offering real solutions that corporates can adopt. According to 2024 Geography of Cryptocurrency Report, between the fourth quarter of 2023 and the first quarter of 2024, the total value of global crypto activity increased substantially, reaching higher levels than those of 2021 during the bull market.
Governments worldwide introduce more concrete guidelines for crypto usage, encouraging enterprises to explore this space further. The growth is real, but challenges like regulations and market volatility still exist.
🛠 Time to build and spread web3 across web2!
🌍 Crypto Currency Exchanges: A Real Look at Listings
We examined over 4,800 data points to uncover the performance of tokens post-listing on major centralized exchanges: Binance, ByBit, OKX, KuCoin, Coinbase, Gate.io, and MEXC.
There's a belief that bigger exchanges lead to better price action on launch. Is that really the case or is it a misconception?
We ran statistical analysis to reveal the real impact of exchange listings on token price performance.
Report: https://docsend.com/view/xrmxc5ybb5wic9ug
🎉 CZ is back to crypto spotlight!
After stepping down as CEO of Binance and serving a brief prison 👮 sentence due to AML compliance issues, CZ has returned to the scene. His departure from Binance marked a significant moment for the crypto world, but his resilience showcases his enduring influence in the industry.
As we anticipate his next moves, let's remember that innovation in crypto often follows those who dare to push boundaries.
🔍 "Alpha" from AlphaMind: Evaluating the potential of the $EYWA IDO
Yes, that’s right — our good frens and partners at AlphaMind just released a detailed review of EYWA — in the format of a professional «investment memo» for the retail community, sharing VC analysts’ thoughts on our ecosystem’s products and the potential impact of EYWA solutions. Moreover, they’ve created a sentiment form to evaluate the potential of the $EYWA IDO. Now it’s your turn to review their assessment and compare it with your own!
➕ As a reminder, AlphaMind is a community-first launchpad with a built-in Quest engine that makes them independent from third-party platforms like Intract and Galxe. Their unique Karma system tracks both on-chain and off-chain activities to reward meaningful engagement and real contributions, incentivising true community engagement, loyalty, and support for Web3 projects.
AlphaMind was created by the team behind InnMind, a leading Web3 startup accelerator platform with 7+ years of market expertise. Their investment arm, InnMind Capital, backed EYWA back in 2021. To date, InnMind platform has supported over 5000 crypto VCs (from major players like Sequoia to smaller syndicates) and over 25,000 founders who successfully raised over $70 million from VCs on InnMind. This is a golden opportunity for projects like EYWA to engage with a vast network of VCs, experts, and blockchain enthusiasts.
⚡️ We’re Live in 10 Minutes!
The Crypto VC Pitching Session is about to begin!
▶️ Join YouTube stream
▶️ Watch in LinkedIn
Tune in to discover promising Web3 startups and ask questions in the comments!
🔎 How retail community looks at web3 startups' tokenomics
Last week - Kate from InnMind & AlphaMind team sat together with Max Krasnov, CEO at Coinstruct.tech & web3 economist to cover the critical topics around token economy that bother most of the crypto retail investors.
In this in-depth 30-minute interview they discussed the answers to such topics as
❓ how retail investors can effectively analyze tokenomics in IDO projects
❓ typical red flags they should watch out for and other questions.
If you're planning your TGE and engagement mechanics with the retail community around your project - this is a must-watch video to understand the gaps you might have to fill in with your current token economy model💡
⏩ Watch here
🎥 Save the date: InnMind Web3 VC Pitching Session!
Join us on September 25th at 15:00 CET for a front-row seat to the InnMind Online Pitching Session. Whether you're a founder or just curious, this is your chance to learn from top Web3 startups as they pitch to investors. 🚀
Some of the confirmed VCs include:
✅ 3X Capital | Gate Labs | CLS | Webwise VC | Majinx VC | Brinc | MEXC Ventures and others!
📺 Catch the livestream on YouTube & LinkedIn.
💡 Don't miss a chance to apply and get a chance to be selected for a pitch.
💡 Don’t miss this opportunity to see what investors are looking for in today’s market!
🔝 Top 10 Quest Platforms for Crypto Marketing in 2024
In 2024, quest platforms are a must for driving growth and engagement in the Web3 space. These platforms let you gamify tasks, reward users with tokens, NFTs, and other assets, and build a loyal community around your project. 🎮✨
We've reviewed the top 10 quest platforms that can help you scale your crypto marketing efforts and foster real community engagement.
🔍 Explore the full review here
🚀 InnMind’s Free Workshop: Launching a Compliant Utility Token in 2024
Are you finally launching your TGE in the next months after a long crypto winter? 🌍
Join InnMind's free workshop with Janina Pietrowska, one of the leading web3 lawyers & legal advisors since 2017 with over 100 Web3 projects in her success cases portfolio.
What you’ll learn:
📌 Key steps to launching a compliant utility token
📌 How to navigate the regulatory landscape in 2024
📌 Which jurisdiction to choose
📌 Get your questions answered live by Janina!
⏰ When: September 26th 17:00 CET
🖥 Where: Zoom & YouTube Livestream
👇 Apply to join the workshop in zoom to ask questions related to your specific startup case and get extra materials & legal templates for free!
🔗 Sign up here
Polygon and the big revamp!
After a year of extensive community discussions, Polygon developers announced that the migration of MATIC to POL is starting September 4th.
The introduction of POL plays a crucial role for the project's transition into a ZK chain and its integration with AggLayer, which aims to consolidate liquidity and state across multiple chains.
The upgraded POL token will have expanded functionalities in the future, including roles in block production, zero-knowledge proof generation, and participation in Data Availability Committees (DACs).
It is evident that Polygon’s main catalyst for revamping is the introduction of AggLayer!
Similar to the arrival of TCP/IP in the 80s, which created a seamlessly unified Internet; AggLayer, unites a divided blockchain landscape into a web of ZK-secured L1 and L2 chains that feels like a single chain.
To achieve seamless transactions between different chains and rollups, the aggregation layer has three key design components:
- Proof Generation
- Optimistic Batch Confirmation
- Atomic Cross-Chain Interaction
As of now, 10 well-funded projects are integrated with Polygon’s AggLayer, Ronin, TON, X-layer and Movement Labs to name a few. With the help of these projects being part of it, AggLayer is planning to become an essential point on every infrastructure project's roadmap, thus attracting more partners/projects and hopefully being able to solve true pain points that are hindering the growth and mass-adoption of the industry.
🔥Have a great weekend ahead, stay safe and don't forget to buckle up; the cryptoverse is on the rise🔥
🔎 Top 10 Web3 Accelerators You Should Know About
Chasing capital alone isn’t the recipe for a startup’s success. What really matters is having access to the right resources, mentorship, and networks.
In our latest article, we’ve put together a list of the 10 best Web3 accelerators for early-stage startups—ecosystems designed to help projects grow into the next unicorn. Each of these accelerators has a track record of successful projects and well-known stories behind them. 🤩
👉 Explore the list and find the accelerator that can take your startup to the next level.
☑️ PR Hacks for Web3 Startups
How to pitch your startup to journalists and make a loud PR for your funding round or product launch❓
We got it covered with the first-hand insights from ex-Cointelegraph CEO Victoria Vaughan.
Victoria makes PR campaigns for the top crypto companies, incl. Animoca Brands, Polygon, Yield.app, Shopping.io, Gate.io, Republic and others. She is a regular speaker at the top industry events such as Eth Denver, NFT.NYC, Dcentral, Web3 Summit Miami 🤩
🎙 She shared her decade-long experience and invaluable insights into developing effective PR strategies, engaging with journalists, and leveraging partnerships for growth with InnMind community on the workshop.
▶️ Watch the record here
⚡️ Short reminder about start of Crypto VC Pitching Session in 15 minutes
▶️ Join YouTube stream
▶️ Watch in LinkedIn
Join the stream to learn new and promising startups. Feel free to communicate and ask questions in the comments.
❓ Why retail investors should choose launchpads
For web3 entrepreneurs and investors navigating the volatile crypto landscape, launchpads offer a beacon of stability with benefits:
➕ Early Access
➕ Lower Risk
➕ Community Engagement
📌 Unlike the unpredictable world of altcoin trading, launchpads provide a structured approach to investing in promising projects.
▶️ Learn why launchpads might be a smarter strategy for retail investors and what disadvantages they have in our new article.
When in Kazakhstan: Ministers give you a tour, $TON moons, and you’re treated like Royal fam.
When in Dubai: Sheikhs buy your bonds, you live the high life, and the office chairs have gold trim.
When in France: They treat you to baguettes… in prison. $TON crashes like my faith in French hospitality.
🇫🇷France: Where you can drop your croissant, your freedom and your crypto in the same day. 🤯
Your thoughts?
Bull Markets Historically Begin in Uptober 📈
Yup, you see it. History’s on our side!
Even on InnMind which is evergreen, every Q4 we see significant increase in deals closure between web3 startups and crypto VCs in our platform.
So get ready for Uptober 2024 and kick off your fundraising plan now, because InnMind is about to heat up! 🔥 https://app.innmind.com/pricing
Dive into the real insights on the token performance on major CEXs: Bigger Exchange = Bigger Volumes⁉️
Our partners at Simplicity Group have conducted an in-depth analysis to identify the real impact of exchange listings.
Get exclusive access to the full report here 👇
Tokenized Ads in Telegram mini apps
Looking for a cost-effective way to scale your crypto project? Telegram’s mini-app ecosystem might be your next big marketing tool. Here’s why this under-utilized channel offers huge potential for web3 founders:
Since Telegram has expanded its gaming features through the «mini-apps», over 500 million monthly active users (MAU) interact with these apps 🤩
What Are Telegram Mini-Apps? 🤔
Mini-apps are lightweight apps that run directly inside Telegram without users needing to leave the platform. Think WeChat but for a global, crypto-savvy audience. They’re designed for anything from gaming, productivity tools, to web3 experiences — and most importantly for us, marketing and user acquisition.
Mini Apps offer various monetization avenues, such as in-app purchases, subscriptions, and advertising. For crypto projects, the main source of monetization is selling traffic via incentivised quests, using points as rewards.
Many tech companies have been experimenting with mini-apps for a while now. For example, Tencent has successfully made mini-games an integral part of its social network business. The Chinese tech giant revealed that mini-games on WeChat have reached 500 million MAU and over 1 billion unique users. In its latest annual report, Tencent also noted that gross revenue of mini-games grew 50% year-over-year in 2023.
As the founder of Slise.xyz, an AdSense for Web3, wrote in his SubStack: «The main interest point for web3 marketers is that because of the semi-unlimited supply these users are cheap, and it allows growing Telegram products / social channels to big numbers at low cost. While this market is still early and there are not so many buyers who would bid for it, it presents a really good opportunity at a below-the-market price.»
🎥 Join the Live Stream of Our Crypto VC Pitching Session Today at 15:00 CEST!
Get ready to watch some of the most exciting Web3 projects pitch to top VCs! Set your reminder on YouTube and LinkedIn and meet the participants:
◾️ Velix - Liquid Staking as a Service protocol that allows users to stake assets across L2s and L1s while maintaining liquidity.
◾️ SUBBD - The ultimate AI-powered content creation platform.
◾️ Functionland - Revolutionizing data storage by offering lower costs, complete privacy and mobile app support.
◾️ GPT Wars - The first AAA FPS survival game on TON, set in a dystopian future.
◾️ Meme Labs - A complex meme-infrastructure positioned to own the meme niche for +900 million users of Telegram.
Don’t miss out! See you soon 😉
💸 Airdrops - Are they dead? 💸
History
Airdrops first went mainstream in 2020, when Uniswap distributed 400 UNI to every wallet that had interacted with its platform. This strategy was designed to drive adoption by giving users a financial stake in the project, and it worked — other projects quickly adopted the model, and airdrops rapidly became an expectation within the DeFi community.
Current Landscape
▫️ Nowdays, airdrops have led to unintended consequences such as "airdrop farming," where users exploit token giveaways for short-term gains without long-term engagement.
▫️ This has resulted in declining user activity and token value, a striking example being the unsuccessful airdrop of Blast.
▫️ Instead of retaining users, airdrops are hunted by users that collect rewards before quickly exiting in search of the next opportunity.
▫️ According to CoinMetrics, 65% of all airdropped tokens have lost value since their release.
The bad example of Blast
▪️ In June, Blast distributed 17 billion BLAST tokens to early adopters, hoping to attract users and capital.
▪️ On-chain data depicted a significant number of users leaving Blast after collecting their rewards.
▪️ The token price dropped by 20% triggered by a huge sell-off.
▪️ The sentiment and intention of the community was evident before the actual airdrop even occurred as the TVL was declining in the month leading up to the airdrop.
▪️ Users that had qualified for the airdropped started withdrawing their capital and moving to the next opportunity.
Future
Nobody knows what the future holds, it is certain however that the strategy lies in creating long-term, value-driven ecosystems, rewarding consistent participation and meaningful contributions. Fleeting financial incentives were found to be an inadequate method for aligning the incentives of stakeholders. Understandably, drawbacks are part of the journey and different strategies will be tried and fail in the name of innovation.
The question that remains is will airdrops find their fit or will the web3 community develop a novel solution for token distribution?
🔥Have a great weekend ahead, stay safe and don't forget to buckle up; the cryptoverse is on the rise🔥
🚀 Ready to Launch Your Token in 2024?
Join our free workshop next week with Web3 legal expert Janina Pietrowska to learn everything you need to know about planning your Token Generation Event from a legal perspective! ⚖️
We’ll cover:
🔵 How to choose the right jurisdiction
🔵 MiCA rules and Whitepaper requirements
🔵 Key compliance documents for a smooth token launch
⏰ When: September 26th, 17:00 CET
🖥 Where: Zoom & YouTube
👇 Register now to join the event in zoom to ask your questions live and get exclusive free templates + free legal consultation specific to your startups’ case
The Rise and Fall of FriendTech: A Cautionary Tale for Web3 Developers
🟢 FriendTech, once a SocialFi sensation in the Web3 space, soared to prominence after its August 2023 launch on Base, allowing users to trade "keys" linked to influencers. Keys allowed users to engage in private chats with creators/influencers, introducing a new way of monetizing your audience.
🟢Fueled by speculative hype, airdrop rumors, and backing from venture capital giant Paradigm, it rapidly grew to over 910,000 users. However, its reliance on speculation, volatile tokenomics, and stagnant product development led to a rapid decline. What started as a novel socialfi project became a trading casino of unsustainable growth, leading to a plateau of prices and a decline in user activity.
🟢FriendTech tried to escape the stagnant trap that had led itself to by introducing V2. The introduction of V2, which added "Clubs"—paywalled chatrooms for topics instead of individual creators—flopped. The competitor landscaped outpaced FriendTech in innovation and hype was lost once again.
🟢A botched airdrop, platform stagnation, and internal conflicts with Base further alienated users. By mid-2024, FriendTech’s user base had all but disappeared, and the developers abandoned the project.
🟢On September 8th,2024 the devs of FriendTech gave up control over its smart contracts, moving them to a zero Ethereum address and abandoning the project.
🟢Its rise and fall offer valuable lessons on the dangers of hype, the importance of continuous innovation, and the need for building genuine community trust in Web3 projects.
🔥Have a great weekend ahead, stay safe and don't forget to buckle up; the cryptoverse is on the rise🔥
📢 Ready to Pitch Your Web3 Startup to Top Web3 VCs?
InnMind is kicking off its Autumn Edition of the Online Crypto VC Pitching Sessions, and we’re looking for the brightest builders to showcase their projects to the leading web3 investors! 🚀
⚡️More than 20 quality introductions were already made since the last VC Pitching Session between participating startups & VCs
Criteria for startups:
➡️ Verticals: Decentralized Infrastructure | DePin | BTC | Web3 Cloud | DeFi | SocialFi & Gaming | NFT | RWA, and more.
➡️ Stage: Pre-seed / Seed / Private / Series A
This is a fast-track opportunity to get real feedback from investors, build connections, secure direct introductions with VCs and accelerate your funding round💡
⏩ Apply now and pass the pre-selection process to participate.
🚀Missed Our Latest VC Crypto Pitching Session? Watch the Replay Now! 🎥
Last week, we saw some of the most innovative Web3 and AI startups pitch their projects to top VCs and investors. 💡 From real estate tokenization to decentralized AI, the session was packed with valuable insights and takeaways for any founder preparing their own pitch.
If you’re looking to learn from the best and see what works when pitching to investors, don’t miss the chance to watch the recording 📺
➕ Sign up on the InnMind platform to apply for the next pitching sessions.
🪦 The Era of Dead Tokens
As usual in the end of work week, here is a stuff from our Investment Analysts.
In August, the $RARE token, despite its market cap of $130.72M, saw an impressive $1.77B trading volume on Binance and Bybit futures. This surge followed Binance’s announcement of futures trading for the token.
The project, a 2021 NFT marketplace, has experienced a sharp decline. The token has plummeted 95.07% from its October 2021 all-time high of $3.79, now standing 20 times lower.
🗓 In July 2024, the platform’s trading volume totaled just $0.7M, and the DAO’s revenue reached a modest $65K. Yet, $RARE remains a hot topic in the trading community, driven by market makers and short-sellers, despite the NFT market's evident decline.
Welcome to the era of dead tokens. As Solana meme coins faded from the spotlight, capital battles shifted first to new low float/high FDV listings in 2024, and now traders are dabbling in the speculative trading of dead tokens like $RARE.
Have a great weekend and stay safe 😉
Get Loans From Marsbase 💲
Here is a great news for investors & founders from Marsbase, the first aggregator of web3 secondary markets for SAFT/SAFE, RWA.
📢 Now you can get instant loans using your locked SAFE/SAFT/RWA as collateral
Would your assets qualify for a loan❓
📞 Schedule a call to find out & get more details
⏰ Set up reminder for Online Crypto Pitching Session that will be streamed today at 15:00 CEST on YouTube and LinkedIn
Meet our participants:
▪️friendo.cash | SocialFi + Banking
The world’s first Money Affiliated Network, allows users to earn from their friends’ transactions and generate lifelong passive income. Friendo.cash is redefining banking by creating a platform that seamlessly integrates social connections and financial services.
▪️LiveArt | ArtFi, RWA
The world’s largest multi-chain ArtFi ecosystem, LiveArt is bringing the $2 Trillion art asset class to global crypto audiences through the world's largest multi-chain launchpad for iconic Artists.
▪️OOOO | Infra
The first modular omnichain interoperability protocol that powers multichain applications, bridging blockchain networks and integrating all liquidity.
▪️RapidNode | Node Management
A no-code blockchain infrastructure management platform that leverages an automated orchestration layer built on top of DePIN to simplify the management, deployment, and monitoring of blockchain nodes.
▪️Mahjong Stars | GameFi
A crypto mahjong social gaming platform that is using an AI hybrid system to allow for each player to train multiple AI players to play for them based on their gaming style.
Confirmed VCs and guests:
Big Brain Holdings | Polygon Ventures | Presto Labs | Varys Capital | Aquanow | Fusion7 | Mars DAO | Momentum6 | Asva Ventures | Paper Ventures | Webwise VC | X Ventures | DWF Labs | 3X Capital | DIB Ventures | Foundersheads | Chain Capital | Jets Capital | Ceras Ventures | Cryptomeria Capital | Bitget
See you soon!🦄
Need inspiration (or motivation) for a pivot?
Check this table with some of the most notable startup pivots of all time 👆
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