Newsletter #31

Author

Arts DAO
July 31, 2024

Arts DAO is the leading Internet Culture and Digital Collectibles community in the Middle East, bringing artists, collectors and builders together to build the future of web3 together.
WANT TO BE VIEWED BY THOUSANDS OF WEB3 READERS?
Contact [email protected] or Arts DAO Admin number
for Newsletter Sponsorship Opportunities

Hi fam 👋

on Saturday almost immediately after the Trump BTC Nashville speech, Senator Cynthia Lummis announced a new Strategic Bitcoin Reserve policy. The key points were: 

  • Buy 1,000,000 BTC over "a set period of time," which was later confirmed to be 5 years 

  • Establish a network of secure BTC vaults 

  • Be funded by diversifying current Fed & Treasury funds 

  • Affirm self-custody rights.

But the most important note here is: Promised to fire Gensler on Day 1 😀

However, there is still plenty of other news, let’s gooo!

Events:

ArtsDAO MeetUP this Saturday!

We’re excited to invite you to at 5 PM on Saturday, August 3rd, at IKRA Dubai (same great place as last time).

Don’t miss out on a fun evening with like-minded people, enjoying the atmosphere, and making new friends.

BTC & Alts:

  • Coinbase Asset Management is creating a tokenized money market fund, following BlackRock's US Treasuries fund which has already accumulated $500M in assets. In December, the company received in-principle approval from an Abu Dhabi regulator to start tokenizing traditional assets on Base, the exchange's Ethereum scaling network.

  • Caldera raised $15M to unify ETH rollups, led by Founders Fund. Caldera provides a simple interface for launching layer-2 "rollup" chains that record data to Ethereum but offer quicker and cheaper transactions.

  • Base is enabling fault proofs on testnet, advancing toward "Stage 1 decentralization." Base will continue testing fault proofs on Sepolia, aiming for a secure mainnet launch.

Memecoins:

  • Neiro tokens saw $1B in 24-hour trading volume from Saturday to Sunday after it was found out that the original Doge owner got a new dog (named Neiro)

  • $MUMU hit new ATH with $250M Market Cap.

NFT / Web3:

  • Igloo, Inc (the Pudgy Penguins parent company) announced a raise of over $11M to develop Abstract chain. The funding was led by Founders Fund (Peter Thiel's fund), along with 1kx, Everest Ventures Group and more. Igloo plans to use the funds to build out Cube Labs, a new group which will oversee the development of Abstract.

  • BTW: VanEck launched a promotional video for its ETH ETF featuring Pudgy Penguins

  • Doodles unveils Doodlesá”—á”›, a token-gated platform for exclusive community-focused premieres of music, films, and digital artwork. Next week, Doodles is partnering with Base to launch the Super Pass (Season 1), which unlocks early access to all Doodlesá”—á”› premiere events.

AI:

Every week, we select new AI tools that you can try out. This way, you save time for the more enjoyable things in life.

  • BypassGPT: Humanize AI text without plagiarism.Integrated with top AI detectors like GPTZero and ZeroGPT

  • MaxAI - Save time summarizing PDFs and more. It's basically Notion AI everywhere, works across all the apps and sites you use, including Google Doc and Microsoft Word.

  • EssayFlow - No AI detector will find out your essay is AI-written. This AI essay writer produces human-like, undetectable essays.

Alpha:

  • ⁠Jupiter announced a partnership with Irene Zhao to explore new memecoin launch mechanisms

  • $PYUSD went live on Marginfi, with additional rewards and 3x points available on deposit. The rewards will continue to scale with inflows. 

  • Abstract's testnet went live, allowing devs to build and test applications prior to mainnet launch later this year.The testnet is powered by the ZK Stack and operates as an L2 on top of Ethereum Sepolia.

Tweet of the Week: