Canto NFTs Going Bananas!
ImmutableX “Gamertags and Apple IDs” & Airforce Powered by Blockchain?

Theo Delarosa
February 01, 2023
Daily Bullets - Wednesday, February 1st
Market is continuing its hesitancy in picking a direction to move ahead of today’s FOMC. Apart from the interest rate hike decision, which everyone knows will be 25 bps, we’ll be particularly interested in the speech and comments given by Fed Chair Jerome Powell. The market always reads into this. There’s lots going on out there and today we’re looking at:
- Canto NFTs Going Bananas!
- ImmutableX Normie Friendly “Gamertags and Apple IDs”
- Air Force Powered by Blockchain? - SIMBA Chain
Set your reminders for this week’s Crypto Illuminati Twitter Spaces!
Canto NFTs Going Bananas!

The gist: The price of up and comer shiny new kid on the block Layer 1 Canto has been absolutely ripping recently. Up ~1900% since its low of $0.02156 in November and at a current $184M market cap. It’s been mimicking similar performance to Aptos, another shiny new L1. Most recently the NFT scene on Canto has been getting a ton of attention from CT.
What’s Happening? Here’s a thread explaining some of the current hot projects and how they’ve performed.
Canto has 3x’d in a matter of days and with this comes a piqued interest.🟢
This is a thread on PATHWAYS INTO THE CANTO ECOSYSTEM. 🧵
Starting this with my fave —NFTs.
If you want to make money, hold canto but if you want to make good money; CANTO NFTS.— Joy (FREE, OWN) 🍄💎 (@Missenjil)
Jan 30, 2023
Analysis: The combination of being early to a new chain, along with limited choices means that liquidity will inevitably flow to the few outlets available and in that case, its currently Canto NFTs and primarily on Alto Market. Is any of it good? It’s capturing attention and that results in strong price performance. There are mutterings that the communities are strong and due to their recent gains and success, this creates a feedback loop that more newcomers keep perpetuating and so the flywheel goes. A common question asked among many in this space - will the next cycle rotate back to established L1s such as Solana or Avalanche or are those dinosaurs now and all that the kids will want to play with anymore are the shiny new toys such as Aptos, Canto, Sei, Sui? So far, we can see that pricewise, the new kids on the block are doing pretty well. (despite a rough initial launch)

ImmutableX Normie Friendly “Gamertags and Apple IDs”

What’s happening? ImmutableX will be launching the Immutable Passport, which provides an all-in-one way for gaming studios looking to onboard gamers into Web3. The new tool is a non-custodial wallet, gamer profile and authentication solution, similar to an Xbox Gamertag or an Apple ID.
Significance: This is big! These are the steps that will inevitably need to be taken if web3 gaming or any type of blockchain based tech ever has a shot at gaining actual mainstream adoption. Crypto in its current form is complicated and this creates a friction barrier when it comes to onboarding users (which is very important to you if you’re an investor and wish for your investments to go up.)
It is so unbelievably easy and natural to explain to someone that this new “passport” works similar to a Gamertag or Apple ID. People are used to that type of effortless user experience already in web2 and will expect it in web3. Bullish on projects that reduce the barrier to entry and make it easier for normies to step into the space. We need the normies.
Airforce Powered by Blockchain? - SIMBA Chain

What’s happening? The United States Air Force has granted SIMBA Chain a $30M funding increase as part of its aims of "identifying and advancing technologies that have the potential to secure its future dominance." Previously received $1.5M from the USAF in 2020 to research and develop a blockchain for supply chain logistics.
Significance: The US military is doubling down on their ambitions of using blockchain technology to enhance their operations and become more efficient. The most curious takeaway is that there is no mention of a token and especially one that is investible by the general public. Why would the military want normal users to have access to such a thing? The same can be said for a variety of business and enterprise uses. If they do ultimately go down the route of using blockchain based technology, this isn’t the same as offering a publicly traded coin that the general public can speculate over. Unfortunately, the United States military and other businesses probably won’t buy our bags but instead just have their own private chains custom built for them. Sound familiar?
All of these examples of governments, businesses and organizations using blockchain that we’ve seen over the past several years have yet to bear much fruit but that is why we’re keeping such a close eye on the state of things to see what is actually able to gain traction. Reddit users using Polygon to buy NFTs - there’s opportunity for us to invest in there somewhere. The military? Most likely not.
Read more
Daily Bullets
- Do Kwon is staging a comeback and working on several new products including bulking out his engineering department with new hires
- Nostr, a decentralized social network that Twitter co-founder Jack Dorsey previously donated BTC to, has launched an app called Damus on the Apple App Store and Google Play Store
- Voyager creditors reject Alameda’s attempt to recover $446M
- Celsius publishes list of users eligible to withdraw majority of assets - will only be able to withdraw 94% of funds
- Interactive, virtual, events platform Notable Live partnered with eBay to leverage NFTs for fan experiences with their favorite sports players, leagues and teams
- Rally, a social token platform on the Ethereum network, announced that the Rally sidechain would begin sunsetting on January 31
- MetaMask has launched a learning simulation platform, MetaMask Learn, to help users orient themselves in the world of web3 and self-custodial wallets
- Bankrupt crypto lender Celsius used Quickbooks to keep track of its finances just like FTX
- Crypto Exchange Bitzlato plans to resume operations and allow partial withdrawals of user funds
- Toyota is sponsoring a Web3 hackathon on multi-chain smart contract network Astar Network, which could potentially yield management tools for Toyota's employees
- NFTZ, the world’s first exchange-traded fund for NFTs, is shutting down
- BNB Greenfield - A Decentralized Data Storage System and Economy whitepaper
Market Update - What’s Moving?

- Gainers: Recent strong performers such as FTM, DYDX, OP, LDO are rotating back to the top of the charts after cooling off over the weekend. Always want to keep an eye on the volume, not just the % increase.
- Losers: A lot of recent runners are now giving back some of those gains. DOGE, APT, SOL, GALA, SAND. Aptos in particular was smacked down away from the $20 region it touched last week and metaverse coins are giving back after an impressive January run.
Canto Charts to Pay Attention to

- TVL on Canto is approaching all time high after rising all throughout January. TVL is almost equal to the current market cap.

- Not too much good data available yet but here we can see the spike in txns and fees as Canto NFTs have been going bananas. Source
Research/Reads
- Here’s Why Floki Isn't Actually Going to Burn $100M Worth of Tokens - source
- Andre Cronje - The death of Defi & RWA - source
- The current state of DeFi and the potential for real-world assets to be tokenized on-chain
- A behind-the-scenes battle broken out among deep-pocketed crypto investors as Uniswap moves to select a cross-chain bridging protocol partner - source
- Wormhole vs LayerZero
- dYdX Foundation 2022 Ecosystem Annual Report - source
- Highlights from the dYdX ecosystem in 2022
- ARK Invest - 2023 Big Ideas research report - source
- Bitcoin prices will hit $1M by 2030
- $588M worth of unlocks scheduled for February - source
- 17 projects, including 1inch, Tornado Cash, Moonbeam, ApeCoin and Aptos
- VitaDAO: Pfizer-Invested Longevity Research, A New Paradigm for Decentralized Science? - source
- Discusses the potential of decentralized science
- Credible, Optimal Auctions via Blockchains - source
- Can crypto actually improve online trust via MEV auctions?
- From Disillusionment to Productivity - source
- Where we are in crypto, what we've done right, and some theses
- Unlocking Proof of Humanity with Non-Financial NFTs - source
- Applications of non-financial NFTs that open a new world of use cases for creators
Bonus - How to Value Your $SUDO Airdrop
- Did you pick up a nice Sudo airdrop? Token currently isn’t tradeable but here’s some math for how you can value it:
$SUDO airdrop is announced by @sudoswap
How much $SUDO did eligible users get, and how much would be worth it?
Exploring $SUDO valuation through peer comparison
(btw I am not eligible for $SUDO airdrop)
(hard coping)A thread
🧵 twitter.com/sudoswap/statu…
— alphanonce Intern (@alphanonceStaff)
Jan 31, 2023
We hope you find this issue engaging and enlightening. As always, we welcome your feedback and suggestions for future issues.