If you look past the FTX debacle, ample opportunities await your attention. The best part about them is that they are low or no-cost activities but keep you on top of the crypto space. I am talking about early user rewards in tokens and NFT airdrops of promising new projects.
Before I move on to new projects, let me do a short update on last week’s mentions.
The CapyBaras NFT testnet on Sui was halted due to maintenance issues, so some of you may have faced issues. The good news is that the website is back up and running. Navigate to the link here, hover over the ‘My collection’ tab, and go to the ‘Capys’ section to mint two NFTs.
For ZK-Rollup fans, another project on StarkNet that you can start interacting with is Nostra Finance. It is a money market and stablecoin issuance platform backed by Wintermute and GSR Capital. The team will launch its testnet soon. To gain access, you need to join their social media accounts and claim an NFT here.
Now, let’s move on to new projects for this week.
Turning Articles into NFTs
If you’ve been lurking in the crypto space recently, you would have likely visited Mirror at some point. It’s a decentralized content publishing platform that runs on Optimism and stores data on Arweave.
It was founded by Denis Nazarov, a former partner at Andreessen Horowitz, in October 2020. The platform is used by top-tier projects like Optimism, Art Gobblers, and Canto. Some influencers and developers like Chase Chapman, Banteg, and Molly Wintermute also use it.
Mirror allows creators to incentivize their content via a feature called “Collect Entry,” where readers can mint an article as a “Writing NFT” by paying the creator. The project also has a $WRITE token awarded to some creators weekly, which is non-transferable and enables a claim of a unique domain name, for example, “canto.mirror.xyz.” Based on the decentralized development so far, it won’t be a surprise if Mirror announces a DAO token (something similar to ENS).
To engage with the platform, start by creating your Mirror profile here. Contribution to the platform through articles is one way of doing it. Otherwise, you can collect NFTs attached to articles by paying for them in ETH. An amount between $1-$15 should be adequate. Consider the top curated collection on the platform by the Mirror DAO here.
Example of how to mint an article as NFT. Source: mirror.xyz
MetaMask: Wen Token?
MetaMask’s development team, Consensys, recently launched an employee-led MetaMask Grants DAO that allows its employees to vote on the development proposals for projects in the MetaMask ecosystem.
The document mentions that the team is “looking to decentralize over time and add external contributors as well.” In the past, Joseph Lubin, the founder of Consensys, has also hinted about a MetaMask token. Thus, preparing for a potential airdrop from the largest wallet providers in the space is really a no-brainer.
Trying all features built inside MetaMask can be an effective way to start. Let’s start with the token swap feature. Consensys introduced a DEX aggregator feature within MetaMask on October 13, 2021. It pulls rates from different DEXes like Uniswap and Balancer and performs swaps from the wallet.
On November 11, MetaMask also introduced a beta version of the Bridge aggregator. Use the ‘Bridge’ to transfer tokens between compatible blockchains.
Consensys is also developing an EVM-compatible ZK-rollup, where you can participate in the private testnet. This independent project may also have a token in the future. Fill out this form here to join the waitlist.
Arbitrum: Improving Airdrop Chances
Arbitrum is the most used Ethereum Layer 2 commanding one-third of the total Layer 2 gas fee revenue. The reason? The chain will likely have an airdrop soon.
Percentage of Layer 2 transaction fees of different chains (Source: Dune Analytics).
The arbitrum token is the most anticipated in the industry, so the airdrop is a crowded trade. Still, there might be an opportunity in using a less crowded Arbitrum Nova.
The central use-case of Nova is social applications and gaming. For instance, Reddit launched its MOON cryptocurrency on Arbitrum Nova.
After bridging the tokens, you can trade WBTC, ETH, and Reddit’s MOON token on Sushi. Make sure you’re on the Arbitrum Nova network before making the swaps.
Additionally, you can also improve your chances by completing missions on community development platforms like Layer 3 and increasing your transaction count and volume on Arbitrum One chain. Finally, you might want to buy some NFTs on Stratos and TofuNFT.
Social Media Points that Might Turn into Tokens
In March 2022, the Quai Network team raised $8 million in funding from Polychain Capital. The team launched a social media campaign on November 3, where you can earn QUAI rewards. Go to the Quai Network dashboard here and join by linking your Discord account. Next, follow and interact with the social media accounts on Twitter, Reddit, and YouTube to increase your points. You can check the list of activities and rewards here.
That’s it for today. Remember that the time to prepare for the next bull run is now. By performing the simple activities mentioned above, you can stay on top of the upcoming trends in crypto.
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