Infinity Weekly: The Meta Chain

Issue 18 of Infinity Weekly, our newsletter for INFINISWAPPERS

Infinity Weekly: The Meta Chain

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Price data as of August 28th at 3 am EST

What's in Today's Email?

  • IC Ecosystem News
  • This Week in our Blog
  • NFT Market Snippets
  • Around the World
  • By the Numbers
  • Meme Time
  • Weekly Opinion

IC Ecosystem News

In League Together: ICP League and the DFINITY Foundation are hosting a community summit on September 15th - 17th. The virtual event, Interstellar, will be open for everyone’s viewing and will cover topics like innovative ICP dapps and the possibility of a fully realized metaverse hosted on The Internet Computer. There will be online panel discussions, workshops, and more. Be sure to register to attend, and you will be eligible to receive a commemorative NFT airdrop.

♾ ICP as the Meta Chain: Austin Fatheree of ICDevs successfully tested a Smart Pier transaction between the Internet Computer blockchain and Polygon’s Mumbai Testnet. This is a monumental demonstration of the Internet Computer's capabilities as it opens up the possibility of the IC becoming a true Layer Zero, interoperable with all other blockchains:

♾ More Than a Meme: $GHOST, which has seen a dramatic rise in value over the last few weeks, now has utility beyond simply being the first memecoin deployed on the Internet Computer. $GHOST can be used directly within DSCVR, which is one of the most popularly used social media dapps in web3.

♾ I See SONY: IC1101, which is being developed in stealth, released another sneak peek into their metaverse project. Not much has been confirmed about IC1101, other than the fact that the world setting is a fictional planet named Oasis. However, their latest preview video left a lot of exciting clues to ponder over. It seems that NFT interoperability will be supported, as some of the featured avatars look suspiciously like Bored Apes. Additionally, one of the buildings in the videos prominently displays SONY logos, leading people to suspect that there may be many other big-name partnerships brewing behind the scenes.

This Week in Our Blog

We have so many exciting airdrops coming, including what looks to be the most anticipated drop of the year: Infinity Gems by DKLORD89 and Egidoval. We'd hate for you to miss out and want to give you as many chances for rewards. Be sure to fill out our Feedback Form and get active in our Discord! Read the article below for more details on how to increase your luck!

InfinitySwap: Feedback and Focus Groups for Rewards
We want to give everyone a further opportunity to gain access to our growing list of airdrops we have planned.

Web3 advocates love to talk about how we need to own our own data. But what exactly does that mean? And what about Web2 makes it impossible for us to truly own our data? Learn about the evolution of Web 1 and 2, and the possibilities of Web 3 in our latest article:

Web 3: Power to the People
Decentralized Finance is like a Swiss army knife of financial tools continuously under refinement, with a myriad of potential use cases.

Our partnership with Itoka sounds like music to the ears. This highly anticipated music dApp is the latest project to join forces with Infinity Swap. There might even be a token launch in the future!

InfinitySwap Forms a Strategic Partnership with Itoka
We are delighted to announce a new partnership with the highly promising Music dApp, Itoka. Our Infinity Wallet has now been integrated into the Itoka site, and we will explore further synergies such as tokenization.

NFT Market Snippets

🎨 By the time you are reading this, you will have less than 24 hours if you want to mint an artwork in the Aplomb collection on Entrepot before the unsold are burned. Aplomb is the third collection from the ICP Art team (although, at this point, there is just one artist doing all of the artwork himself). The other two ICP Art collections are Tranquility (99 pastel paintings) and Equanimity (49 oil paintings). What sets Aplomb apart? It’s the first collection in the series to feature abstract art. Additionally, the physical paintings are up for grabs if you meet the requirements (see their Twitter and Discord for more information).

🎨 The DogFinity team, famous for their “Early Dog” marketing videos, has just announced they are going to release the first dog-themed coin on the Internet Computer. While the vote is still ongoing in their discord, it appears that 18% of the token supply will be airdropped to holders of their two NFT collections: DogFinity and Early Dog Trophies.

🎨 We know you’re all excited about our collaboration with DKLord and Egido Val (trust us, it’s growing closer every day). But in the meantime, Egido Val just rewarded holders of his first collection (IC Bucks) with a 1:1 airdrop of WAGMI Dystopian Club. The incredibly intricate and artistic collection is just the sort of thing that Egido Val is known for – he certainly did not disappoint. Some of the characters featured in the collection include Satoshi, an old version of Dominic Williams (as well as a NotDom version), and even Egido Val himself (or at least a clone, as his hat says).

Around the World

💀 Up In The Clouds: Last week’s Ethereum euphoria seems to have faded into despair as $ETH's value, volume, and sentiment has dramatically dropped this week. Among technical concerns regarding the highly anticipated Merge (which will upgrade the Ethereum validation method from proof-of-work to proof-of-stake), it seems that Ethereum is at risk of getting kicked off Hetzner, a German cloud services firm that hosts roughly 16% of cloud-hosted Ethereum nodes. As over 60% of all Ethereum nodes are cloud-hosted, this is alarming news to consider.

👮 Private Eyes: It seems that global crypto regulation is closing in tighter than ever as the market continues trodding downwards, a double whammy that feels like compounding the pain. Korea, Singapore, India, and even the Taliban are enforcing stricter compliance laws. Crypto audits for the sake of anti-money laundering and increased investigations into centralized exchanges for non-compliance with KYC (Know Your Customer) requirements seem to be happening everywhere. It seems that the next bull run, when it happens, will be openly monitored by Big Brother.

👦 "He's Not Even a BitMan, He's Just a BitBoy": BitBoy, a crypto YouTuber who is generally hated by the majority of CT (Crypto Twitter, which has a complex culture upheld by crypto "OGs"), filed a lawsuit against fellow YouTuber Atozy for defamation. Atozy, who created a video highlighting BitBoy’s checkered history of promoting questionable projects, made his situation known to the broader community. This led to prominent crypto figures like Cobie donating large sums of money to cover legal expenses. After creating something of a media circus, BitBoy announced that he would be dropping the lawsuit during a live-stream.

By the Numbers

255,844,748 ICP

Circulating ICP supply, an increase of around 0.21 % from the previous week (as of 12:00 am EST, Aug 28th, 2022 - dashboard)

1,604,810 ICP

Total NFT Trading Volume, an increase of around 2.67 % from the previous week (as of 12:00 am EST, Aug 28th, 2022 - nftgeek)

Meme of the Week

A Matter of Opinion: InfinitySwap Editor: The Meta Chain

The speculative nature of crypto trading shows the early stage of the tech. Meme coins are still worth billions of dollars despite having no discernable use case. This trading almost inevitably leads to factionalization and competition to onboard new investors. I watched a video featuring the trader and analyst Raoul Pal yesterday where he said he expects there to be 4 billion active users of crypto by 2030. There are currently 300 million, so yes, we ARE all early if that is indeed the case.

We can expect there to be competitive marketing and promotion of interests, but what we should not expect is the nefarious smearing of the reputations of one organization by another.

The IC has some of the leading world experts in cryptography and is working tirelessly to integrate chains for the benefit of everyone. Bitcoin and Ethereum integration is a well-known part of the DFINITY roadmap, but this week's Smart Pier transaction between the Internet Computer blockchain and Polygon’s Mumbai Testnet demonstrates that the IC can truly integrate all of blockchain to become the only Layer Zero protocol.

For the true potential of blockchain to be unleashed, this would certainly appear to be the way forward. The empowerment of chains via interoperability will be like a network of super highways as opposed to a single lane.  

While underhanded tactics remain, for now, the IC will rise about it all; truth wins out, and the tech will speak for itself in time. Hopefully, others in the crypto space will realize that the real focus should be on driving institutional adoption and growth and competing with big tech rather than squabbling with each other.

Through its advanced chain key cryptography, the IC is set to be the meta chain that connects the whole space. After all, as Fleetwood Mac once said, 'chains keep us together.' Let's hope that will be the case.

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*Disclaimer: Note that cryptocurrencies can be volatile and speculation should not be construed as financial advice in any capacity. All opinions of the author are their own and do not necessarily reflect the opinions or position of InfinitySwap or its staff.