According to BlockBeats, Aperture Finance, an intent-focused solver network, has seen its total staked tokens exceed one million within three days of launching its staking functionality. Stakers can enjoy up to 50% APR returns and gain rights related to NFTs.

Aperture Finance combines AI with Intent to create a new type of chatbot supported by underlying Intent infrastructure. This chatbot allows users to 'state their goals' in natural language and leverage the solver network for better execution and pricing.

According to Odaily, the monthly trading volume of the Non-Fungible Token (NFT) market on Ethereum has been on a downward trend since January. Even in January, the trading volume was significantly lower compared to the tens of billions of dollars traded monthly during the bull market period of 2021 and 2022. In May, the trading volume did not even exceed 500 million dollars.

Furthermore, data indicates that the daily average number of NFT traders on the Ethereum chain has fallen below 4,000 for the first time since June 2021. In February 2022, this figure had reached a peak of over 80,000, but it has been declining ever since. Although the number of users remained stable from June 2023 to February 2024, it began to slowly decrease thereafter.

According to Foresight News, a cryptocurrency address starting with 0x9bec has fallen victim to a phishing attack. The address has been identified as the victim of the Fake_Phishing187019 attack, resulting in the loss of three LilPudgy Non-Fungible Tokens (NFTs).

Coinspeaker South Korean Retailers Begin Scaling Back NFT Operations

Top South Korean NFT retailers are shutting down their non-fungible token (NFT) platforms as the broader market cools down. Lotte Home Shopping has announced that it will shut down its NFT shop on July 2nd. Lotte Home, which is Lotte’s e-commerce arm, was launched in May 2022 as part of the company’s project to create a metaverse business.

Lotte’s NFT Shop differentiated itself from others when it used Korean won (KRW) as its transactional currency. This system was implemented to allow non-crypto users to access the platform. The company also released its own Bellygom NFT character and partnered with artists and brands like virtual influencer Lucy and the horror movie “The Witch: Part 2” to expand its NFT offerings.

Following the termination of its NFT shop service, Lotte Home Shopping will disengage itself from the NFT business as the remaining digital assets of the company, including Bellygom NFT, will be managed by Daehong Communications. According to a local news outlet, an official from Lotte Home stated:

“In order to streamline the NFT business, we will terminate the operation of our own NFT shop… Daehong Communications will operate the NFT business, including Veligom NFT, as the NFT project hub.”

Decline in NFT Trading Volume Prompts Strategic Shift

Lotte is not the only major South Korean retailer scaling back its NFT ambitions. Hyundai Department Store has also shut down its H.NFT electronic wallet service, which offers customers discounts and benefits. Meanwhile, Shinsegae, another South Korean retail store, has reduced the perks associated with its NFT-based loyalty program.

Large companies are terminating their NFT business due to declining NFT trading volume. According to data from Dune Analytics, the monthly NFT trading volume on leading marketplace OpenSea has plunged from a peak of $3.6 billion in February 2022 to just $41 million as of last month, a 99% drop. Aside from this, according to NonFungible.com’s market tracker, between January and December 2023, NFT’s sales volume dropped from 18,939 to 1,796.

Thus, with this decline in sales volume, industries are now refocusing their efforts on strengthening their core business areas rather than investing resources into NFT initiatives that have failed to gain traction. The exit of these prominent players represents a setback for the NFT market in South Korea, which had seen a flurry of activity from major brands just a year ago.

Cautious Optimism amid a Cooling NFT Market

As the hype around NFTs fades and trading activity plummets, South Korean retailers are pragmatically reassessing their strategic priorities and allocating resources accordingly. Despite the noise reduction and market value decline, some NFT holders are still optimistic about the future growth of digital assets.

According to research conducted by FastCompany, some NFT owners, like Jacob Jackson, a technology writer, remain hopeful in the bullish movement for NFTs. However, he agreed that not all his acquired digital assets had surged in price. He’s not in a hurry to offload any, as the market is still quiet, and as new buyers start entering the space, there is a chance for the older NFTs to start yielding profits.

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South Korean Retailers Begin Scaling Back NFT Operations

The co-founder and chief technology officer at Untrading, Yale ReiSoleil, Jr., shared insights about the future of finance and blockchain technology in an exclusive interview with crypto.news.

At 16, ReiSoleil founded Untrading, a non-fungible token (NFT) and cryptocurrency trading platform that allows users to get future rewards on their sold assets. This is made possible through a technology outlined in an Ethereum Improvement Proposal called ERC-5173 — NFT Future Rewards (nFR), which he co-authored.

ReiSoleil says that his interest in coding and development stemmed from his love for video games, citing an interest in “discovering loopholes that would allow me to progress faster or unlock hidden features,” he says.

Here is the interview with the 17-year-old CTO of Untrading.

You might also like: Web3 is the game changer for athlete monetization beyond the field | Opinion

Q: We’ve seen major NFT collections drop 90% in today’s market — are NFTs on the way out?

A: NFTs are currently experiencing a market correction, much like the broader crypto market. The 90% drop in some major collections is a reflection of the speculative frenzy that drove prices to unsustainable levels during the peak of the hype cycle. However, this correction does not signal the end of NFTs as a technology or as a valuable asset class.

It’s important to recognize that the NFTs most people refer to are the speculative, often copycat, lazy, and childish cartoons that have flooded the market in recent times. These unimaginative imitations of earlier, category-creating projects like Cyberpunks and CryptoKitties have largely relied on the “greater fool” effect, hoping to find buyers willing to pay even higher prices. The demise of these low-effort “collections” is unsurprising and arguably necessary for the market to mature.

However, the NFT framework itself holds immense potential beyond these speculative projects. As the market evolves, we can expect to see a shift towards NFTs that offer tangible benefits, real-world use cases, and long-term value propositions.

Q: “The true power of NFTs lies in their ability to drive the convergence of virtual and real-world assets, enabling new forms of ownership, provenance, and value creation.”

A: As the underlying blockchain technology and smart contract capabilities continue to improve, NFTs will play a significant role in various industries. From gaming and art to supply chain management and intellectual property rights, NFTs have the potential to revolutionize how we create, own, and trade assets in the digital age.

Moreover, NFTs offer a unique opportunity to properly realize the value of provenance in asset ownership. By providing an immutable and transparent record of an asset’s history, origin, and ownership, NFTs can unlock new value streams and create more equitable marketplaces for creators and owners alike.

In conclusion, while the recent price drops in speculative NFT collections may seem alarming, they are a necessary step in the market’s maturation process. The demise of unimaginative copycat projects clears the way for the emergence of more sustainable and value-driven NFT ecosystems. As technology advances and awareness grows, NFTs are poised to play a significant role in shaping the future of asset ownership and value creation across the virtual and real world.

Q: How do you see the future of blockchain technology for mainstream use by 2030?

A: This is a tricky question as we will definitely see drastic changes in the coming years. Just look back 6–7 years and see how antiquated everything looked back then. This tech moves extremely fast, and any projections will most likely be absurd when looking in hindsight.

However, if I were to make some, I believe that the major improvement we should see is a drastically better User experience (UX) and onboarding. It is foolish to expect any person interested in using the blockchain to have to learn several complex concepts and navigate a minefield that could easily result in loss of funds/mistakes if not careful.

The current complexities surrounding this tech greatly hinder its mass adoption. However, it is still important for users to have control over their own keys and funds, and this is where Externally Owned Accounts (EOAs) and Account Abstraction will shine. Only once we have achieved ease of usage can we see a massive increase in usage, which would, in turn, make more people interested and lead to more innovation. It is a great positive feedback loop.

Read more: The crypto industry is going forward and onward amidst mixed signals | Opinion

When we think of iconic sports, there is no other one like football. Football is the sport that surrounds the world and is the most watched, played and loved form of entertainment around the world. When we think about football, there are so many iconic moments to choose from and this spans back decades. Nearly every team in the world has an iconic moment and even if it isn't iconic to all of football, some moments are still iconic to the club. As someone who loves crypto and investing, the collaboration of football and investing is one of my favourite things and it doesn't happen enough, with one of the most recent times being Sorare and their deal with the Premier League and looking at football now, if I could pick some iconic moments to be NFTs which would I choose and why?

Aguerooooo

The biggest league in the world is the Premier League and the most iconic moment in football history is between Aguero and QPR. So let me paint the scene for you, it's the last day of the season, and city rivals Manchester City and Manchester United are in a title fight that is heading down to the last second, all City need to do when they first title in 60 years is so beat a team who are on the cusp of relegation. As the clock ticked on, a header from Dzeko made the game even at 2 goals each and then, in the 93rd minute of the season, one of the last kicks of the season and the game, Aguero got the ball and scored the goal that won City the League and changed football forever. This is the best moment in footballing history and it would sell for a lot if it was as an NFT.

Greece Do the Impossible

When we look at the European Championship winners since its inception, there are several teams that you just expect to win and Greece are not one of those teams. In 2004 when Greece started to pick up speed in those years Euros, people started to think about the chance of Greece doing the ultimate underdog story. Their group stage went really well and when they beat France in the Quarter Finals, which was something that no one predicted with the Euro 2024 bets because the France squad was so strong. Getting to the final was already a good enough Tournament for the players and the fans but they would have obviously wanted to win and this is where the NFT could come in. When Charisteas’ goal hit the net and the players started to celebrate, a special moment for players and the fans was born and this would make for a beautiful NFT.

The Miracle In Istanbul

In the year of 2005, Liverpool defied the odds and made it to the Champions League final to face one of the best sides of the last 25 years, AC Milan. Going into the game a lot of people wrote Liverpool off because their team wasn't as strong as people thought it needed to be when playing in the Champions League final and for the forest 45 minutes, these worries were right as Liverpool went into halftime seeing themselves three nil down. As soon as the third goal hit the net, everyone collectively agreed that it was over. Until Steven Gerrard, Xabi Alonso and Vladimir Smicer reduced the lead and sent Liverpool to extra time. When the thirty minutes of extra time came and went, penalties were the decider here of who would be crowned champions. A hero stepped up in this and it was Liverpool's goalkeeper, Dudek, who saved two penalties and won Liverpool their trophy. The final save being an NFT would be iconic and wanted by fans everywhere, except AC Milan fans obviously.

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

 

Kalao (KLO) is positioning itself within the NFT space on the Avalanche (AVAX) blockchain by incorporating virtual reality (VR) into its environment. It has a Virtual Reality showroom and DeFi elements integrated within its NFT marketplace. Likewise, RUNE is also used to pair tokens with other assets in the platform’s liquidity pool, making them more valuable and useful. 

These innovations make Kalao one of the leading firms in technological advancement in digital asset trading. Like 5thScape, Kalao is breaking barriers by integrating new-age technologies with the blockchain concept to target tech enthusiasts and increase the adoption of NFTs and VR in the crypto sphere.

5thScape Vs. Kalao Vs. Rune: A Detailed Review 

Click here to know more about 5thScape! 

Various factors make 5thScape, Kalao, and Rune different. Let us understand their comparative analysis before claiming for a coin to lead the list. 

Technological Innovation

5thScape excels as a premier gaming Metaverse, delivering an immersive VR experience with captivating 3D games. Its proprietary VR hardware enhances immersion, including a state-of-the-art headset and ergonomic motion chair.

Moreover, 5thScape’s comprehensive approach combines immersive VR experiences, proprietary hardware, and a strong community around its native token, 5SCAPE. This positions it as a leader in the gaming arena, boosting player immersion and satisfaction¹.

In contrast, Kalao positions itself within the NFT space by incorporating VR into its environment. It features a Virtual Reality showroom and DeFi elements integrated within its NFT marketplace.

Like 5thScape, Kalao aims to increase NFT and VR adoption by integrating new-age technologies with blockchain concepts.

Besides, Rune pairs tokens with other assets in its liquidity pool, enhancing their value and utility. While Kalao and Rune offer unique innovations, 5thScape’s dedicated VR/AR technology sets it apart as a front-runner in this competitive space. Its integrated ecosystem and commitment to player satisfaction position it for future success. 

User Engagement 

5thScape boasts an active and passionate community. Their engagement contributes to the platform’s growth and development. The substantial presale of $6.1 million in its first phase indicates investor confidence and interest in 5thScape’s vision and potential.

Kalao’s VR and DeFi elements integration has attracted users interested in NFTs. Its growing user base reflects its appeal within the crypto community.

Rune’s role in pairing tokens with other assets in liquidity pools enhances its value proposition.

While Kalao and Rune are making strides, 5thScape’s presale success and active community position it as a leader in market adoption. Its dedicated user base and innovative approach set it apart.

Financial Performance 

5thScape successfully raised $6.1 million in its presale. This substantial amount reflects investor confidence and provides a solid foundation for its growth. Moreover, analysts also suggest that early 5thScape investors would yield 600x profits by 2025. 

Besides, Kalao has received financial backing and investment within the NFT market. This support contributes to its development and expansion.

Rune’s financial performance is closely tied to the success of its liquidity pools.

While Kalao and Rune show promise, 5thScape’s impressive presale funding underscores its strong market position. The substantial investment signals trust in its vision and potential.

Ecosystem and Partnerships

5thScape aims to become a fully integrated VR ecosystem where developers and architects collaborate to create alternative realities. It offers immersive games, a VR headset, and an ergonomically perfected chair. It is actively exploring partnerships within the VR industry. These alliances could enhance its ecosystem, drive adoption, and foster innovation.

Besides, Kalao has established partnerships within the Avalanche blockchain community. These collaborations contribute to its growth and ecosystem development. It is also involved in collaborations related to NFTs (non-fungible tokens) and DeFi (decentralized finance). These sectors play a crucial role in shaping its ecosystem.

In contrast, Rune focuses on partnerships that enhance liquidity and utility. By connecting with other projects and platforms, it aims to create a robust ecosystem for its users.

While Kalao and Rune have their strengths, 5thScape stands out due to its comprehensive VR ecosystem. It offers gaming experiences and envisions a decentralized marketplace for developers and content creators, streaming opportunities, and a robust tokenomics system powered by the 5SCAPE token. 

The potential strategic partnerships within the VR industry give 5thScape a competitive edge, positioning it as a leader in the immersive reality space.

Future Prospects 

5thScape has ambitious plans to release several VR games, including titles like “Cage Conquest” and “Epic Cricket Arena.” These games are expected to drive demand for the 5SCAPE token.

Beyond gaming, 5thScape envisions a developer marketplace for VR content, set to launch in 2025. This marketplace will enhance the ecosystem’s value and foster innovation within the VR space.

Besides, Kalao’s future growth lies in its NFT and VR integration efforts. As these sectors evolve, Kalao aims to position itself strategically within the blockchain community.

Rune focuses on enhancing liquidity and utility. Its partnerships aim to create a robust ecosystem for users.

While Kalao and Rune have their merits, 5thScape stands out due to its comprehensive vision for VR/AR gaming. Beyond games, it plans to develop its own VR headset and gaming chair, positioning itself as a future powerhouse in the immersive reality market.

The Final Verdict 

5thScape emerges as the front-runner  among its competitors due to its comprehensive and immersive approach to VR/AR gaming. 

While Kalao and Rune make significant strides in the NFT and liquidity, 5thScape’s proprietary VR hardware, extensive gaming ecosystem, and strong community support position it as a future powerhouse. 

This holistic integration of technology, user engagement, and financial backing firmly establishes 5thScape as the leader in the competitive landscape of VR/AR gaming.

The crypto and memecoin bull market has finally faded, with all fingers now pointing to the non-fungible token market. In this article, we shall access on possibilities and catalysts required for the non-fungible token market to retest another bull run before the end of this year.

Will NFTs Retest Bull Run In 2024?

Michael Joseph Winkelmann, known professionally as Beeple, is a man of interest in the article as he was seen as the man behind the famous 2021 NFT Bull Run. Beeple is an American digital artist, graphic designer, and animator known for selling non-fungible token collections.

Beeple uses various media in his art to create comical, phantasmagoric artworks that make political and social commentary while using pop culture figures as references. Beeple has been creating art every single day since 2007. He has a huge following on X, formerly Twitter, nearing 800,000.

Beeple is believed to have single-handedly started the 2021 NFT bull run. In a June 11 blog post, Pix, a non-fungible token researcher, has tabled a special report linking Beeple as the man behind the 2021 NFT bull run. How did Beeple fuel the 2021 bull run, and can he save them again?

This is Beeple

He single-handedly started the 2021 NFT bullrun

Here's his story (and why he could save NFTs):

1/10 pic.twitter.com/wtbO7Moh8J

— Pix🔎 (@PixSorcerer) June 11, 2024

Mike Winkelman got his first crypto assets in 2018, holding some Ethereum and Bitcoin (BTC). But, for three years, he stayed a passive investor. In 2020, Beeple first learned about NFTs and quickly became one of the top-selling artists of NFTs. At the time, NFTs selling for $1 were soon reselling for $150,000 and $300,000.

The NFT bull market started when Beeple sold his Everydays: The First 5000 Days NFT collection for $69.3 million, attracting massive businesses, companies and institutions to the market. This gigantic NFT sale hit every major news outlet and served as the catalyst that started the great NFT bull of 2021.

But Can This Happen Again?

In 2021, before the United States general Election, Beeple sold another NFT collection for $6.6 million. In 2024, the United States residents are heading for another election. With election hype fueled by a crypto enthusiast, Donald Trump, and a more mature market, Beeple’s NFT artwork could resell for millions. This could set the stage for a new piece to break the $100 million mark.

Moreover, improving the usefulness of non-fungible tokens is a prominent forecast for the next NFT bull market. Earlier this year, Zion Market Research projected the non-fungible token market size to reach $217.07 billion by the end of 2032, growing at an annual growth rate of around 22.05% from 2024 to 2032.

Related NFT News:

Polygon Outperforms Bitcoin And Solana In Daily NFT Sales Volume – CryptoSlam

Funko Launches A New NFT Collection To Celebrate Batman’s 85th Anniversary

Google Searches For Bitcoin NFTs Spike To Record Highs – CoinGecko

#NFT $$$$$SOL

Rapper Iggy Azalea’s MOTHER token is gaining traction among traders and speculators.

MOTHER token’s price has surged by over 2,900% from its all-time low, giving it a market cap of over $153 million. Rapper Iggy Azalea, best-known for singles like Fancy, Black Widow, and Work, has become the latest sensation in the crypto industry. 

This week, she hyped MOTHER, a token she hopes will become a leading cryptocurrency in the industry. As crypto.news reported earlier this week, she believes that the token will be used for commercial purposes like buying smartphones and cell plans. 

MOTHER has continued to gain traction. In an X post on Thursday, it was reported that the token will be integrated in Magic Eden, one of the top NFT marketplaces in the industry. This integration means that users will be able to buy NFTs in the ecosystem using the new token.

When Mother says to integrate $MOTHER, we listen.Soon.. Powered by @crossmint.

— Magic Eden 🪄 (@MagicEden) June 13, 2024

The token has also achieved other milestones in the past few weeks. Azalea hired Fenwick, a leading law firm to help compliance with the law and scaling. It has also been listed by several DEX and CEX platforms like Helix, Kamino, Bitget, and HTX.

Still, its popularity has raised questions about the future of celebrity-backed cryptocurrencies. Recently, Davido, a Nigerian singer launched a token that crashed after he cashed out. Caitlin Jenner’s token has also crashed.

At the same time, the number of similar tokens has soared. There are now many tokens targeting politicians like Joe Biden and Donald Trump. MAGA HAT and MAGAA tokens are taking advantage of the ongoing political season.

Some analysts believe that celebrities meme coins have become the new NFTs, an industry that has almost collapsed. Data by CryptoSlam shows that the total NFT sales have dived by double-digits in the past 30 days. Ethereum and Solana handled $158 million and $79 million worth of tokes in this period, down by 52% and 46%, respectively.

MOTHER Token price forecast

On the hourly chart, we see that the MOTHER token price peaked at $0.2613 on June 6th. It has now dipped by more than 40% from that point. 

The token has formed a symmetrical triangle pattern, which is nearing its confluence level. It is also hovering at its 25-period and 50-period moving averages while the RSI has dropped below the neutral point of 50.

Therefore, the token’s outlook is bearish with a bearish bias. A drop below the lower side of the triangle will point to more weakness, with the next reference level to watch being at $0.10. This price is about 36% below the current level.

TLDR

Chainlink’s rally past $20 is imminent despite the recent downturn.

Dogecoin loses key footholds amid price dip.

Rebel Satoshi Arcade presale sells out fast. It appeals to investors thanks to its intersection with memes, NFTs and GameFi.

The weekend’s dip caught many by surprise, despite the growing buzz around celebrity memecoins. As the market plummeted, so did top altcoins like Chainlink (LINK) and Dogecoin (DOGE).

Undoubtedly, the market’s direction has been sparking concerns among investors. On the bright side, prices are in attractive buy zones, providing an opportunity to expand portfolios.

Meanwhile, presale and emerging tokens—immune to the wider market’s turbulence—have become popular destinations. Standing out on the ICO list is Rebel Satoshi Arcade (RECQ), an altcoin at the intersection of memes, NFTs and GameFi.

This ongoing presale has been turning heads in the investment arena. By combining the best crypto narratives, there is little to be desired. Nevertheless, this isn’t a vote of confidence in its potential—it is too early to give one.

Rebel Satoshi Arcade (RECQ): A New ICO Favorite

Rebel Satoshi Arcade (RECQ), a top ICO, has been experiencing quite the success in presale. Its intersection with memes, GameFi and NFTs has no doubt been driving interest and demand.

Also, as an emerging crypto, it has more room for growth, say, than altcoins like Dogecoin and Chainlink. The second stage of the ICO is almost sold out, with a token priced at just $0.0044.

Besides its budget-friendliness, another standout feature is its vibrant ecosystem. There will be an arcade of a variety of new and reimagined classic games, revolving around play-to-earn, free-to-play and pay-to-play games. Also, a merchandise store and an NFT marketplace will be at its heart.

While the above paints a promising picture, not all ICOs will live up to their early promises. Despite indicators pointing to a promising market debut, uncertainty abounds. So, do your own research.

Chainlink (LINK): Anticipating a Comeback

Chainlink’s (LINK) oracle network is undoubtedly one of the biggest contributions to the crypto scene. This connects decentralized applications to existing systems to unlock real-world use cases.

Given the above, Chainlink builds on Ethereum’s smart contracts, with Bitcoin’s blockchain technology serving as the foundation. In light of this, LINK is among the best altcoins—a crypto to keep on the radar.

While it started the month on a strong note, the recent market dip pushed it to the downside. The change in sentiment over the weekend sparked a sell frenzy—only a few were spared.

Nevertheless, analysts anticipate a bounceback this week. Considering notable developments like BTC ETFs, PayPal USD expanding to Solana and not forgetting ETH ETFs, the crypto market’s outlook remains promising. Hence, Chainlink’s next jump will likely see it cross $20.00.

Dogecoin (DOGE): In the Red

Dogecoin (DOGE), the first and leading fun-inspired and dog-themed cryptocurrency, is a vital player in the crypto space. It made its market debut in 2013, ushering in a unique narrative: memecoins.

Memes have since become one of the best narratives, taking up a large portion of investors’ portfolios. Celebrities have also been riding this wave, launching their own meme coins. Notably, Caitlyn Jenner and Iggy Azalea recently launched Jenner and Mother, respectively, on Pump.fun.

Despite this, Dogecoin maintains a leading status—the top meme. However, it plummeted as the wider crypto market nosedived. It lost key footholds, spiraling into decline and sparking a selloff.

Nonetheless, a bullish reversal is just around the corner—an altcoin to watch out for. Regarding its long-term outlook, industry experts anticipate a rally past $1.00 during the bull run’s peak. However, this isn’t financial advice—do your own research.

Conclusion

While Chainlink and Dogecoin trade on the downside, Rebel Satoshi Arcade charts a bullish course. This new ICO is quickly becoming a favorite, with many investors fascinated by its convergence of NFTs, GameFi and memes.

For the latest updates and more information, be sure to visit the official Rebel Satoshi Website or contact Rebel Red via Telegram.

Key Points:

Manta Network's Grant Program offers up to $50,000 for early-stage projects.

The EcoFund supports diverse projects in DeFi, Gaming, and NFTs.

Manta Network invests $35 million in promising projects and $10 million in high-growth grants.

Manta Network EcoFund invites innovative individuals, offers grants up to $50,000 for early-stage projects, and invests in applications aligning with its vision.

Manta Network EcoFund Now Live With $50M Offering For Applications

Manta Network announces a $50 million EcoFund, making a great stride toward fostering a powerful blockchain ecosystem. This, along with the Ecosystem Grant Program, affords project financing and developmental backing to new-gen projects.

Passionate Individuals Invited to Join Manta Network EcoFund

Manta Network invites all passion-driven individuals to join the team of Mantalorians, renowned for their dedication, hard work, and community sensibility. Being part of the EcoFund is about sharing these values and getting support along the journey of growth.

Source: Manta Network

The Manta Network Ecosystem Grant Program offers support and grants of up to $50,000 to early-stage projects to bring innovative ideas to life with critical initial funding.

Manta Network is highly committed to the projects put in front of it and furnishes such stringent support, hence creating a nurturing environment that is catalytic for the teams to fully grow.

Within the diversely focused EcoFund, projects on DeFi, Gaming, and NFTs are supported, which paves the way for a vibrant and multi-dimensional ecosystem.

Readmore: Biden Crypto Donations Aim To Fight Against “Crypto President”

Manta Network's Investment in Native Applications and High-Growth Areas

Another goal of the EcoFund is growth supercharged by direct investments in native applications and technology partners. Manta Network believes in investing in projects that align with its long-term vision and hence fostering a collaborative ecosystem.

According to their announcement, thirty-five million of this is invested directly in promising projects on the Manta Network, which further drives the core application development and technological advancement going on here. Another 10 million goes to grants aimed at helping specific interest categories focused on high-growth areas.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Circle, a crypto financial firm, recently announced the expansion of its Web3 services to include support for the Solana blockchain, introducing advanced features such as programmable wallets and gas stations.

This development is set to enhance both the functionality and user experience of Circle’s offerings.

Streamlined Development with Programmable Wallets and Gas Stations

The integration will be executed in two main phases. Initially, Circle will introduce essential application programming interfaces (APIs) on the Solana blockchain to facilitate secure transfers of fungible tokens.

Key features of this phase include programmable wallets and a gas station, which will enable the sponsorship of transaction fees on behalf of users, thereby aiming to improve the user experience significantly.

Developers will benefit from the ability to scale their applications more effectively by overcoming technical complexities associated with private key security, node infrastructure, transaction fees, onboarding, and authentication flows.

Circle on X

This simplification is expected to allow developers to focus more on application and business expansion without the usual encumbrances.

In the subsequent phase of the rollout, Circle plans to introduce support for non-fungible tokens (NFTs) and enable program interactions through the Smart Contract Platform.

Such enhancements will align Solana with other major Web3-supporting blockchains like Ethereum, Polygon, and Avalanche.

The added functionalities are anticipated to empower developers with the necessary tools to integrate NFTs into applications, potentially transforming areas such as brand loyalty programs and gaming experiences.

Fostering Innovation in the Solana Ecosystem

Moreover, Circle emphasized its commitment to the Solana developer community by providing the essential tools and resources needed to create secure, scalable, fast, and cost-efficient applications. By doing so, Circle aims to facilitate the broader adoption of blockchain technology.

Circle expressed particular enthusiasm for Solana’s capabilities in handling payment use cases, which align closely with Circle’s mission of facilitating seamless value exchanges that contribute to global economic prosperity.

Notably, the integration highlights programmable wallets that allow for the configuration of automatic interactions with smart contracts, thereby reducing the need for manual task execution and enhancing transaction efficiency based on specific conditions.

The announcement also comes at a time when Solana has been witnessing significant growth and activity.

May saw a record high of 41.5 million active addresses on its blockchain, according to Hello Moon, signaling robust engagement within the ecosystem. This surge in activity is part of the reason Circle chose to support Solana.

Anticipating future needs, Solana is preparing for major upgrades, including the Firedancer upgrade slated for 2025, aimed at enhancing scalability and minimizing network downtime.

This upgrade comes in the wake of recent operational challenges, such as a notable five-hour outage. The Solana Foundation, in collaboration with Jump Crypto, is focusing on independent validator client development to support this upgrade.

Recognition from Fintech Leaders: PayPal and Coinbase

Other fintech giants like PayPal and Coinbase have also recognized and supported Solana’s ecosystem. PayPal integrated its stablecoin, PayPal USD (PYUSD), on Solana at the end of May, while Coinbase launched a new smart wallet.

This wallet is part of a broader effort to make digital transactions more accessible and secure, targeting a massive scale of one billion users. The wallet removes the need for recovery phrases, significantly enhancing user security and ease of use.

Coinbase Launches Smart Wallet

Additionally, Coinbase’s smart wallet promises a “gasless” on-chain experience, reducing transaction costs by leveraging multi-chain integrations. This innovative feature addresses major barriers such as high fees and slow processing times, which have previously deterred mainstream adoption.

The accompanying web app offers a range of management tools, enabling users to handle assets and identity more efficiently, alongside buying, sending, and managing NFTs.

These developments reflect a growing recognition and adoption of Solana in the fintech industry, spurred by innovations that streamline user interactions with cryptocurrencies and contribute to the ecosystem’s scalability and reliability.

The post Circle Brings Advanced Wallets to Solana appeared first on Coinfomania.