Sat - 22 July

Headlines for today: • NFTs for Crypto Taxpayers in India • Jack Dorsey’s First Tweet, Bought For $2.9 M Is Worth $4 Now• OpenSea Launches Peer-to-Peer NFT Swaps• • Binance Labs Invests $10M in DeFi Lender Radiant

🔐 NFTs for Crypto Taxpayers in India: TaxNodes is on a mission to incentivize Indian crypto investors to stay tax-savvy, and they've got a brilliant plan up their sleeves! 🎉💰 Teaming up with Polygon Labs, they're offering complimentary NFTs as a token of appreciation to taxpayers using their platform. To claim their unique NFTs minted on the Polygon Labs blockchain, eligible users just need to provide their ITR acknowledgment number by July 31. And here's the cherry on top: not only will they be NFT owners, but they'll also score a sweet 25 percent discount on their ITR filing for 2022-2023 through TaxNodes. Founder, Avinash Shekhar, said, "These NFTs hold real value and unlock a trove of benefits and discounts on our platform."

🐣 Jack Dorsey’s First Tweet, Bought For $2.9 M Is Worth $4 Now: In a whirlwind of NFT frenzy during 2021, crypto entrepreneur Sina Estavi made waves when he splurged a jaw-dropping $2.9 million to own Twitter co-founder Jack Dorsey's first-ever tweet as an NFT. Back then, the Iranian investor believed the NFT's value stemmed from its uniqueness and connection to the iconic Twitter. Fast forward two years, and the perception of this once high-flying NFT has taken a drastic turn. The latest data from OpenSea shows that the best offer is a mere $3.77 – a far cry from its multi-million dollar heyday. 🤯Determined to make a return on his investment, Estavi attempted to resell the NFT in 2022, listing it for an eye-popping $48 million! To sweeten the deal, he promised to donate half of the proceeds to charity, hoping to garner community support. 🎁However, the community's response was far from what he expected. Bids for the asset came in as low as $280, and even the highest offer was a modest $6,800. 😔 

🌊 OpenSea Launches Peer-to-Peer NFT Swaps: OpenSea has just unveiled its latest addition, "Deals," a peer-to-peer NFT swap function that aims to empower traders and collectors in bolstering their NFT collections. Collectors can now trade NFTs directly with one another, and they even have the option to include wrapped ether (WETH) to sweeten the deal. OpenSea assures users that the feature is backed by their native NFT protocol Seaport, making NFT swapping more reliable and secure. The Deals webpage allows users to enter the username, ENS name, or wallet address of the person they wish to trade with. After selecting the assets they'd like to trade, they can send the deal for consideration. Both sides of the deal must involve NFTs from the same chain and come from badged (verified) collections. If the deal is accepted, the user will be responsible for covering any necessary gas fees for transfers, but the good news is that Deals swaps currently don't have OpenSea fees or creator royalties to worry about. Happy NFT swapping! 🎉🎁

🔬 Binance Labs Invests $10M in DeFi Lender Radiant: Binance's venture capital arm has boldly invested a cool $10 million in Radiant Capital, a decentralized finance (DeFi) lending and borrowing protocol. Radiant, powered by LayerZero Labs' architecture, aims to tackle DeFi's liquidity challenges by creating a money market where users can deposit and borrow assets across various chains. Enter the Dynamic Liquidity Providers, aka traders, who can lock in the native RDNT token and reap rewards from interest and flash loan fees, all while wielding governance power within the Radiant DAO. To sweeten the deal, platform fees are paid out in bitcoin, ether, BNB Coin, and stablecoins. Currently boasting an impressive $265 million in total value locked, Radiant supports over 20 collateral options, with more on the horizon as the Radiant DAO spreads its wings across additional chains. 💰🚀

Lead Product Manager, Payments At Gemini