Chain Reaction - 13th January 2023
NotCentralised NFT launch, Token Mapping and more
Highlights for us from last week included seeing the NotCentralised team launch their CryptoLulu NFT project with Garry and the BarLulu team on Wednesday with Minister Victor Dominello as guest speaker (along with representatives from Zerocap, BetaCarbon, Daniel Avakian and many more in the crowd). Here’s a few posts on that
https://www.linkedin.com/feed/update/urn:li:activity:7028938559831109632/
https://www.linkedin.com/feed/update/urn:li:activity:7028847168161497088/
You can learn more about the NFTs here as well: https://barlulu.com.au/nft-membership/
This week we released our comments on the media release from Commonwealth Treasury to go along with their token mapping work and the details are here on our blog: https://medium.com/notcentralised/thoughts-on-the-treasurers-media-release-making-crypto-safer-for-consumers-66a6ec6c12cb
We also saw our cofounders, at NotCentralised, launch an NFT project they had worked on with a real-world bar/restaurant in Sydney. The launch video is here on LinkedIn https://www.linkedin.com/posts/bar-lulu-cryptolulu_cryptolulu-nft-membership-activity-7028491941294080000-WaQe/?utm_source=share&utm_medium=member_desktop
NEWS
We saw talk about Token Mapping elsewhere too such as the folks at TRM sharing their thoughts too which are very much worth checking out https://www.trmlabs.com/post/crypto-down-under-unpacking-australias-token-mapping-consultation
As a reminder, you can read about token mapping here https://treasury.gov.au/consultation/c2023-341659
and if you're interested in contributing responses to our collated thoughts, please share your details here and we'll pull this all together (and give you credit of course) - see
Greg Oakford from NFT Fest Australia, wrote up this piece for Coin Telegraph covering the photographer Justin Aversano https://cointelegraph.com/magazine/justin-aversano-quantum-leap-nft-photography/
Web3 and AI is coming (if not already here) and whilst it’ll likely see a spike in some breaches as the machines expose flaws in contracts, it’ll likely be positive on the side of those fighting for cybersecurity https://cointelegraph.com/news/how-will-chatgpt-affect-the-web3-space-industry-answers
The SEC and Kraken were in the news with the US regulator basically banning staking on this CEX platform (with a $30m USD settlement) - more details here https://cryptoslate.com/kraken-to-end-staking-in-30m-sec-settlement/
Speaking of sanctions Coinbase highlights that SEC may be banning retail crypto https://www.coindesk.com/business/2023/02/08/coinbases-ceo-cites-rumors-the-sec-may-ban-crypto-staking-for-retail-customers/?utm_content=editorial&utm_term=organic&utm_medium=social&utm_source=linkedin
Ever wondered who the 20 most influential people are in crypto? Neither did we, but apparently here it is
Data
Using our Market Monitor (on Dune Analytics), we can see that for NFTs, OpenSea still continues to dominate with 46% of volume. Additionally, the increase in weekly trades occurring since mid-October has slowed down the past few weeks so we’ll see if that run starts to turn further south. Explore more here: https://dune.com/captain_defi/market-monitor
Additional
If you’re interested in other newsletter or blogs from our team then check out the following
Sensand (Aus DeFi partner) blog - https://sensand.com/blog/
NotCentralised blog - https://medium.com/notcentralised\
Founders’ Journey (personal blog of Aus DeFi founder Mark Monfort) - https://myfoundersjourney.substack.com/
Bankless - https://newsletter.banklesshq.com/