Chainforest Weekly Recap (08/16/23)
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Chainforest Weekly Recap (08/16/23)
Greetings Rainmakers! ⛓️🌴
Welcome to the latest edition of the Chainforest Weekly Recap, where you’ll find up-to-date information on upcoming Chainforest DAO programming and industry events, the community feature of the month, a round-up of the most exciting happenings in our Discord this week, and a welcome to our new Rainmaker’s!
The top three channels were: 💬│general-chat, 📶│jobs-in-crypto, and 🔗│links.
Discord Highlights 👀
⚖️ Regulatory: The evolving FTX scandal continues to develop as Sam Bankman-Fried, the former CEO of the defunct crypto exchange, faces extended custody due to accusations of witness tampering. Judge Lewis Kaplan has revoked his $250 million bail. These actions were prompted by allegations that Bankman-Fried attempted to sway witnesses, leading to his detainment as he awaits trials scheduled for October 2023
🎮 Gaming: Zynga, the developer renowned for games like FarmVille and Words With Friends, has unveiled its debut blockchain game, "Sugartown," operating on the Ethereum network. The game empowers players to utilize their ERC-721 Ora tokens for access and, by staking Oras, they can accrue energy to participate in games and accumulate the in-game currency known as Sugar, resulting in an ever-evolving Web3 community experience.
Zynga's upcoming release of 10,000 Ora NFTs later this year will serve as a prerequisite for accessing the game. Check out the Sugartown trailer here!
💵 DeFi: DeFi lending platform, Compound, is now live on Coinbase's Ethereum Layer 2 network, Base. This integration enables users to employ ETH and cbETH as collateral for borrowing the recently introduced bridged stablecoin, USDbC, on the Base platform
🖼️ NFTs: Coca-Cola has unveiled an NFT collection on Coinbase's Base chain, drawing a cumulative investment of over $450,000 from traders. This collection showcases a fusion of timeless and modern art integrated with Coca-Cola bottles and has rapidly captured collector attention, resulting in the minting of nearly 60,000 Masterpieces.
Despite the customary trend of brand NFT collections experiencing a short-lived surge followed by a decline, certain Masterpieces from Coca-Cola's collection have already dipped below their initial mint price on OpenSea, even as minting remains ongoing
🎮 Gaming: Play Ventures has secured at least $78 million for its third gaming venture capital fund, according to a recent filing with the Securities and Exchange Commission. This amount reflects the funds raised as of the filing date in late June, and while it doesn't reveal the exact fund size, the company's track record is impressive. With a focus on transparency and pragmatic investing, Play Ventures has already invested in over 100 gaming studios, content providers, and game platform services
⭕ DAOs: In an interview with Culture3, Tom McLeod, co-founder of Arkive, discussed the genesis and mission of Arkive, a platform leveraging the Polygon blockchain to revolutionize the museum experience. Unlike traditional museums curated by a small group, Arkive seeks to empower visitors to exhibit and track items they vote to acquire using blockchain technology. Tom McLeod highlighted the inspiration behind Arkive, the concept of decentralizing curation, and the potential of blockchain to enhance provenance, voting, and distribution in the cultural landscape. Check out the full interview here!
🎮 Gaming: Immutable has introduced the ZK-EVM testnet as part of its efforts to enhance infrastructure diversity. The ZK-EVM testnet aims to enhance scalability and reduce costs by utilizing zero-knowledge proofs
🤝 Interested in viewing or sharing deal flow with the Chainforest community? Members can also earn $RAINDROP token along the way!
One new deal was shared with the community last week! Access our Deal Flow tool here!
The deal flow tool allows you to:
Share new deals
Comment and ask questions
Tag members
Search past deals using our filtering system
Ways Rainmaker’s can earn $RAINDROP token:
Source a deal that Chainforest invests in
Aid in the due diligence process for a Chainforest investment
Support a Chainforest portfolio company
What kinds of deals does Chainforest invest in?
Check out our Investment Framework here!
Chainforest DAO Network (Open Roles) 💼
Fund Operations Director (Makers Fund- Full-Time): Makers Fund is looking for a Fund Operations Director to be based in Singapore. The Fund Operations Director will be responsible for managing and supporting the fund operations in Singapore, Hong Kong and other countries together with the finance, legal, HR, compliance and the General Partners
Analyst, Data & Venture Operations (Upfront Ventures - Full-Time): Upfront Ventures is looking for an Analyst - Data & Venture Operations, to join their team in Santa Monica, CA. This is an exciting opportunity for you to gain invaluable experience in the venture capital industry working with a team that brings a diverse set of experiences as former entrepreneurs, operators, and now investors
Upcoming Events 🗓️
Blockchain Futurist Conference: Untraceable's 5th Annual Blockchain Futurist Conference 2023 brings together top leaders in Blockchain, Crypto, Web3, DeFi, Privacy, & NFTs!
Heds presents UNISON: Unison highlight's NYC's rising talent by throwing underground parties, generally centered within the worlds of electronic music and hip hop
When: August 19, 2023, New York, NY
Details: here
Token2049 (Singapore): TOKEN2049 brings together the global crypto industry, uniting entrepreneurs, investors, developers, industry enthusiasts and global media - and creates unparalleled networking opportunities. This is the community that will define what’s next in the space
When: September 13-14, 2023, Singapore (Marina Bay Sands)
Details: here
NY Tech Week - a16z presents Tech Week 2023! Join us for tech weeks in LA this year to create IRL connections across the major tech hubs
When: Oct 16-22, 2023, New York, NY
Details: here
Interested in joining Chainforest? ⛓️🌴
How to apply: You can apply to become a member by completing our application on Typeform. We will review your submission and grant access after approving your profile. Apply here!
What is Chainforest?
Chainforest's mission is to build the most powerful ecosystem in the world leveraging an exceptional community of leaders to build, grow, and invest together to create the future of web3. We leverage the collective power of the Chainforest community to create incredible value for our Rainmakers, the ecosystem, and our LPs and other partners. The outsized performance will create a flywheel effect, allowing us to build an enviable ecosystem that attracts, develops, and inspires high-caliber talent to be their best selves and to build the future of web3 collectively
Learn more about our DAO structure here!
Benefits of being a Rainmaker:
Exclusive Content: Access content like Town Hall AMAs, Workshops, IRL Events, Discord Discussions & Games, and Women in the Forest meet-ups! Expand your knowledge, network with experts, & enjoy the vibrant community
Rainmakers also have the opportunity to support Chainforest's VC fund. Rainmakers have the opportunity to earn $RAINDROP, our token backed by carry in our VC fund, in exchange for:
Sourcing a deal that Chainforest invests in
Aid in the diligence process for a Chainforest investment
Support a Chainforest portfolio company
Help Chainforest as an organization (e.g., take a part-time role with the community, design an NFT collection for the community
Note: Rainmakers are not required to invest in order to participate, but also do not have a vote on investment decisions
Deal Flow: Unlock the Chainforest x @proofofteamwork Deal Flow tool! Share deals, engage in discussions, ask questions, search prior deals, & earn $RAINDROP token by sourcing deals CF invests in, aiding in the due diligence for a CF investment, or supporting CF portfolio companies
Member Directory: Discover the invaluable Chainforest x @proofofteamworkdirectory: Strengthen bonds, explore business prospects, amplify deal flow, and unlock hiring opportunities. Search by location to connect Rainmaker's locally & also connect with Women in The Forest
Earn TEAM points: Earn valuable TEAM points as a Rainmaker by actively contributing to our community through discussions, content interaction, and sharing deal flow. Climb the leaderboard, unlock prizes, and make a rewarding impact in the Chainforest community
I hope you enjoyed this week’s edition of the Chainforest Weekly Recap!
Till next week,