Azuki NFT Collection Gains VC Funding, Filecoin Grows 7X
Daily Market Wrap
Crypto market cap: 931.29 Billion, down 0.47%
BTC price stands at USD 19,131, up 0.33%
ETH price stands at USD 1,313, down 0.96%
Top gainer: TerraClassic (LUNC), up 42.09%
Top loser: Chiliz (CHZ), down 0.72%
News of the Day
The popular NFT collection, Azuki by Chiru Labs, is the latest NFT to gain VC funding.
Why it matters:
Data from The Block suggests that Chiru Labs, the creators of Azuki, are closing a $30 million Series A round, valuing Chiru Labs around $300 million to $400 million once complete
After the news, the average price of Azuki NFTs shot from 11.5 ETH to 15.7 ETH on OpenSea
The most expensive sale of an Azuki NFT was 105 ETH on Monday
Crypto Daily Spotlight
Filecoin reports a nearly 7X growth of data suppliers year to date.
Brief Introduction: Filecoin is a decentralised filesharing protocol developed by Protocol Labs that enables users to buy and sell computer storage for decentralised storage of data and files. For example, blockchain data is stored on networks like Filecoin rather than centralised providers such as Amazon Web Services.
Why it matters:
Filecoin has a market capitalisation of $1.65 billion and roughly 20,000 individual users who are currently using Filecoin
The reported growth precedes the launch of the Filecoin Virtual Machine scheduled for early 2023, which is a virtual computer that would be used to develop decentralised applications on the Filecoin network
The testnet is slated for November 28 of this year, which will be a test blockchain mimicking real-world usage
Daily Sector Tracker
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Ciper Looks to Sell Up to $250 Million in Stock https://bit.ly/3BKw6b4
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