9/2/24: Millions On Memes 💊🐱🐵

Author

Valko
September 02, 2024

Top News

  1. Pump.fun surpasses $100M in revenue as Polymarket outshines NFTs

  2. CryptoKitties team drops open edition “egg” collection

  3. Yuga Labs CEO reveals special division called “The Workshop”

Specs’ Insights

1. Pump.fun surpasses $100M in revenue as Polymarket outshines NFTs

⌐◪-◪ → The popular memecoin launchpad Pump.fun just passed $100M in total revenue from over 1 million memecoins. Not bad considering the project launched in January of this year.

For those who don’t know, Pump.fun makes money by charging a 1% fee on all platform transactions (sales and purchases).

The thing I’ll never get over is their website design — never in a million years did I think a website this shitty could do so well.

While Pump.fun is certainly doing well, they are not alone. SunPump (Tron’s memecoin launchpad) just flipped Pump.fun in 24-hour revenue at $463k and $375k respectively.

It’s unclear how long the party will last, but there’s no denying that memecoins (like Pump.fun) and prediction markets (like Polymarket) are dominating this cycle.

2. CryptoKitties team drops open edition “egg” collection

⌐◪-◪ → The CryptoKitties team just launched a new NFT collection called “Egg,” and it’s doing pretty well! It was a 24-hour open edition mint with a price of 0.008 ETH ($20).

While buyers only minted 3,134 NFTs, grossing the team around 25 ETH ($62k), the floor has surged nearly 20x.

If you want to learn more about these mysterious eggs, check out the collection on OpenSea, or read this in-depth thread from T.M.A.

CryptoKitties has a special place as it was the first NFT collection I minted back in 2017. Sadly, I was afk this weekend and missed this mint — totally flew under the radar.

3. Yuga Labs CEO reveals special division called “The Workshop”

⌐◪-◪ → Garga.eth, the CEO and co-founder of Yuga Labs, just revealed a special division of Yuga called “The Workshop” — his first major initiative since taking back the throne in February.

The team is 13-strong and will focus on fast-paced on-chain innovation, specifically within the ApeChain ecosystem. It’s essentially Yuga’s SEAL Team Six.

While we don’t know what they’re up to (yet), the initiative emphasizes Garga’s dedication to bring Yuga back to its creative-first roots. It’s also unclear if this initiative has anything to do with the scavenger hunt their other co-founder Gordon Gonner teased on Twitter last month.

Personally, I don’t own any non-Larva Labs Yuga assets, but I am happy to see both Garga and Gonner back in the mix, re-embracing the fuck around and find out spirit.

Everything Else

⛓️ Crypto & DeFi

  • Crypto criminals shift from Ponzi schemes to 'pig butchering' scams

  • Telegram's $400M in digital assets and crypto revenues revealed

  • Bitcoin Layer-2 networks to enable native BTC staking

  • Cardano hard fork goes live, introducing on-chain governance

  • Libre arrives on NEAR blockchain, backed by Brevan Howard

  • Sunpump flips Pumpdotfun with $463k in 24-hour revenue

  • Bitcoin touches the 200-day moving average

  • Base reaches 14M monthly active users, up 11M in 1 month

🏦 Wallstreet & VC

🏛️ Legal & Regulatory

  • Telegram privacy under fire as founder awaits trial

  • SEC warns FTX against repaying creditors in stablecoins

  • WazirX unlikely to fully repay hacked customers

🌎 Rest Of The World

  • X banned in Brazil following judge's ruling

  • OKX fully licensed in Singapore, hires former MAS official as CEO

  • Metaplanet partners with SBI for Bitcoin stockpiling

🖼️ NFTs & Metaverse

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