#135 Pump Fun 24 hour revenue hits $5.3M
Memecoin trading protocol earns more than next top 20 protocols
GM - this is The Snapshot, edition #134.
This is what I’ve got for you this week.
This Week In NFT World - Pump Fun 24 hour revenue hits $5.3M
Sponsored Post - Publish & Profit #1: Getting Into People’s Routines
Notable Sales - Cherniak, Punks, Hobbs, Bored Apes, Nakamoto Card
Creator Focus - A Schedule I Do Not Recognise
For sponsorship enquires, please DM me on Twitter.
Have a great day,
B
"everyone is complaining about pump fun rn but never forget this important fact. crypto people clicking their own buttons impulsively, getting wrecked, and then trying to offload all blame with vitriol is nothing new. this is the only constant across every crypto meta and cycle"
"I think this is by far the worst product that came up this cycle. So much capital that could have ended in legit projects got burned feeding scammers, cabals and such. Degens are willing to risk it all for their adrenaline rush on celebrity or racist coins hoping to pull a 0.001% chance of x100 and getting out before the rug. Just pure madness."
Elon x Trump spaces conversations inspires thousands of new coins on Pump Fun
"during the donald trump and elon musk spaces 6000 coins were deployed on pumpfun and only 10 made it to Raydium, just click the right ones. 0.16%"
"$4.5M bet on today's live Elon x Trump conversation on Polymarket. Nearly $2.5M was bet live. Only 3 words hit Yes - MAGA, Tampon, and Illegal Immigrant, so the house won. And Polymarket was a huge winner tonight"
@Tyler_Did_It
Goldman Sachs Holds Over $400M in Bitcoin ETFs
"Goldman Sachs (GS) holds positions in a variety of bitcoin (BTC) exchange-traded funds (ETFs), according to a 13F filing. The investment bank in its quarterly 13-F report disclosed that it holds positions in seven out of the 11 BTC ETFs in the U.S. Its largest holding is the iShares Bitcoin Trust (IBIT) at $238.6 million, followed by Fidelity's Bitcoin ETF (FBTC) at $79.5 million, then $56.1 million of Invesco Galaxy's BTC ETF (BTCO), and $35.1 million in Grayscale's GBTC. It also holds smaller positions in BITB, BTCW, and ARKB."
Coinbase to launch wrapped BTC product to compete with $9B marketcap WBTC
As demand for tokenized Bitcoin on Ethereum-compatible chains grows, Coinbase's entry into this space could significantly impact market dynamics. Coinbase previously launched cbETH, a wrapped Ethereum token, in August 2022. With a circulating supply of about 210,000, cbETH has seen substantial adoption.
Anndy Lian, a blockchain expert, views cbBTC as a chance for Coinbase to offer a transparent alternative to Wrapped Bitcoin (WBTC), especially amid concerns about Justin Sun's involvement. BitGo, behind WBTC, recently partnered with BiT Global, linked to Sun, prompting him to clarify his strategic role without control over WBTC reserves. WBTC is currently the largest wrapped Bitcoin asset, boasting a market capitalization of $9 billion.
From Yahoo Finance
Circle CEO explains Apple Pay can incorporate USDC payments soon
"- Circle has no relationship with Apple and this has nothing to do with Apple Pay. - The news article, which you should read, spells out what Apple is doing, which is opening up the use of the NFC chip to 3rd party app developers. - Until Apple did this, the only payment app or wallet that could use NFC on iPhones was Apple's Wallet and Apple Pay. - By opening up this capability to developers, other Wallet apps, for example, Web3 Wallets and Crypto Wallets will be able to invoke NFC for transactions.”
Prediction marketplace Polymarket partners with Perplexity to show news summaries
"Prediction marketplace Polymarket, which lets users bet on real-world events, is partnering with AI-powered search engine Perplexity to display news summaries of events. When users click on an event on Polymarket, they will now see a summary of news related to the event based on search results from Perplexity. There’s also a search box that you can use to ask more questions."
Sponsored Post - Publish & Profit #1: Getting Into People’s Routines Why This Is Important For You, Your Audience, & Your Profitability
There are three main reasons why it is important for you, your audience, and your profitability to get into people’s routines when you start out.
1. For you, you build a strong habit which you can repeat. I hear a lot of people think that a routine is in some way in conflict with their freedom, but I have news for you - you are wrong!
The beauty about building a routine as a creator is that you have full autonomy about what routine you create for yourself - you can do mornings, afternoons, or evenings; you can do once a day, once a week, once a month - it is completely up to you.
But just know that the more you do, the more reps you do, the more powerful a habit you build - and the faster the returns will come - and actually, the easier it will be to comply with the routine because you yourself get into the habit faster!
2. For your audience, your content becomes something which they rely upon or need. You have to think about it from your audience’s perspective and want them to think ‘oh it is monday 8AM ET, I’ve got to join @ChrisJourda and @SteveKBark in Coffee with Captain now; or it’s 9AM ET, I want to hear what @_thesignal and @EasyEatsBodega and @Chilearmy123 have to say on The Daily Bone.”
There are a million things competing for your audience’s attention every day online, so it is imperative that before they hit the timeline to discover what’s going on today and get distracted, they already have some sort of in-built routine and allegiance to you.
You can only build that by providing value routinely.
In the end, if your content is good it is much easier and more efficient to keep people inside once you get them through the door, than always trying to get more people through the door.
3. For your profitability, your content is able to produce routine results which can be measured and verified by potential sponsors to weigh up how much it is worth.
Imagine the pressure you would feel if you were a host who doesn’t produce routinely, and then you are asked to run a sponsored space, but you don’t know if anyone will specifically turn up at that date and time? It is of course possible to just go live and for people to join, but your sponsor won’t have a routine record of the types of numbers and people that they can expect to join.
And that’s the final point: it’s not just about the quantitative aspect in terms of the numbers; sponsors are interested in the qualitative aspect, to understand who exactly is joining and knowing if that is a good fit for their brand or company.
This segment is brought to you by @lilnounsdao, an expansion DAO based on the famous @nounsdao, who fund cool creative endeavors which proliferate the Nounish meme.
If you are curious about contributing to a cutting-edge DAO and getting paid to bring your ideas to life: check out the Lils website.
Notable Sales - Cherniak, Punks, Hobbs, Bored Apes, Nakamoto Card
Dmitri Cherniak, Ringers - 14.5 ETH
CryptoPunk, 3D - 47.5 ETH
Bored Ape, Trippy - 37 ETH
Tyler Hobbs, Fidenza - 23.5 ETH
Rarepepe, Nakamoto Card - 38 ETH
Creator Focus - A Schedule I Do Not Recognise
Market is a little quieter this week so a bit more focus on the creator side.
I discovered this old calendar with a whole load of learnings:
- once upon a time i apparently ran something called 'metaverse mornings' (i can't even remember what that is now!)
- i also used to shoot a weekly podcast with @legendarygainz_called nft world
- i also used to run @airdropszn with legendary (did 20k in sales but never found product market fit)
all of these were abject failures: but everything done there taught me something new
1. 'metaverse mornings' - god knows what this is but i guess it's important to try things and not let them weight you down whether they work or not
2. nft world was the first iteration of what has become @modernmarket_
3. airdrop szn made me realise: first time founders think about product; second time founders think about distribution.
the point of sharing this agenda is your routine in the future can be radically different to what it is now even if you are only building on what you are currently doing
i think ppl think the only way to radically change your life is to wipe the slate clean and start all over again - but this is terrifying to me
and it misses the opportunity to leverage the learnings and connections you make doing your current work
what you are doing, even if it doesn’t work out, will radically inform you for your future work
Have a great day,
B
Disclaimer: The content covered in this newsletter is not to be considered as investment advice. It is for informational and educational purposes only.
I hold some of the NFTs mentioned in these newsletters