Tech investors are rewarding blue chip NFT projects like @doodles for building high quality communities and manufacturing desirability. Technical analysts have solid grounds for investing in these projects while fundamental analysts have reason to maintain a more pessimistic view.

Phygital web3 experiences that abstract away the underlying tech are effective in onboarding users to crypto. Paradoxically, web3 apps may have to enhance the UX to the extent that users develop an appreciation for the underlying tech in order to retain users.

There is an industry-wide push to make crypto accessible via familiar tech stacks. In any case, devs should note that crypto-native tech stacks are becoming increasingly developer-friendly and the current mismatch in talent supply/demand creates favorable dynamics for crypto devs.

Currently, there is no agreed upon standard to rate the performance of validators. By establishing a standard, @ratedw3b is hoping to spur innovation (e.g. debt products for validators) and drive operational improvements in the ecosystem (e.g. refined algos for slashing).

Stack is hoping to attract Gen Z with a subscription-based business model and a community of young ambassadors that get paid per referral. The business model has questionable economics given certain costs will grow linearly with transaction volume (e.g. card processing fees).

Although there is nothing new about the concept of "liquidity bridging," @magpieprotocol is hoping to differentiate with the best UX in the market (e.g. fast finality, low fees, ease of use).

Shared orderbooks consolidate liquidity, unlock price transparency, and foster healthier competitive dynamics. While there is a well-funded blockchain that provides a shared orderbook for NFTs, @SeiNetwork is focused on DeFi instead.

@Mysten_Labs is rearchitecting blockchains from the ground up to solve the blockchain trilemma and address limitations that have been conveniently ignored but can ultimately compromise UX (e.g. inability to store NFTs on-chain).

By using NFTs to gate access to the game and subsequently diverting a portion of the NFT sales to the prize pool, @internet__game is setting a great example on how crypto-economics can be used to balance cash in/outflows and fix broken business models associated with web2 gaming.

@fuellabs_ is a leading evangelist for modular blockchain architectures. Compared to L2 rollups, MELs have a more expansive design space. For example: while L2 rollups rely on a settlement layer, MELs can be 'sovereign.'

By maintaining a centralized legal entity comprised of the team/investors and offering tokens that allow talent to participate in the platform's upside, @TheTeamway is hoping to decentralize in a manner that does not compromise service quality assurances.

In order to attract validators, @GoGoPool_ is: (1) helping validators become eligible to validate subnets and (2) rewarding validators for validating subnets. Given @GoGoPool_ is designed to overcome limitations that Avalanche may address over time, it has to bear with high systemic risks.

Web2 puts mainstream communities on a pedestal at the expense of smaller communities; web3 makes it possible for communities of all sizes to thrive. Although the market space is crowded, it is worth noting that @koopxyz has 8,500 communities on its waitlist.

Free to play gaming onboarded hundreds of millions of gamers simply because it made games that much more accessible. @limitbreak is determined to hold crypto games accountable to a comparable level of accessibility.

In order to make sense of blockchain data, data teams have to first access raw blockchain data (e.g. using Alchemy), then create custom ETL scripts to structure the data, and finally store the structured data in a data warehouse. @onluabase is streamlining this entire process.

Although the self-sovereign identity standard can be integrated in an array of applications that require data access controls, startups like @tokenproof are using it to tackle narrowly defined use cases that impose low barriers to entry and have immediate commercial potential.

Developers may want to trigger smart contract execution based on oracle data, on-chain activity, time, etc. Solana validators can diversify their revenue streams by helping developers on this front using @clockwork_xyz.

In order to provide high-touch Metaverse marketing support, marketing agencies need to expand their domain expertise beyond creatorship. @insomnia_labs is doing just that by onboarding brands to the Metaverse with consideration for technical, compliance & cryptoeconomic efforts.

@proof_xyz's execution momentum speaks for itself. It remains to be seen whether blue chip NFT collections' brand value more closely mimics the trajectory of utility-first brands with intergenerational influence or influencers in a perennial struggle to remain relevant.

Currently, Solend and Mango Markets capture ~80% of the TVL in Solana's borrowing/lending protocols (source: DeFi Llama). The demand for @EverlendFinance will grow if liquidity becomes increasingly fragmented across various money markets on Solana.

By design, RMMs allow LPs to choose the price their tokens are sold at. @PrimitiveFi is hoping that this LP-friendly approach to market making will help overcome the cold start problem and attract enough liquidity for traders to enjoy competitive prices.

@readyplayerme has established itself as the clear market leader by: (1) integrating its avatars across 3,000+ apps, (2) making avatar generation ridiculously easy for consumers and developers, and (3) abstracting away blockchain tech for developers that want to integrate NFT-based avatars.

As @mural_xyz navigates the crowded market for DAO treasury management solutions, it will need to continue shipping features that are uniquely available on its platform and reduce operational friction for brands (e.g. allowing brands to embed payouts on their websites/socials).

Open source contributors are the unsung heroes in the developer community. Although open source contributors should ideally be rewarded in tokens that hold financial value, @gitpoap is a step in the right direction.

Credit scoring protocols will play a crucial role in lowering collateralization requirements in DeFi. By generating credit scores purely based on on-chain data, @SpectralFi has notably traded off the ability to integrate data from credit bureaus for high transparency.

L1 and L2 ecosystems are aggressively competing for mind share among game developers but only a select few have value propositions that are specific to gaming; StarkNet can join the select few if @matchbox_dao succeeds in its mission.

Game studios are embracing tech that streamlines the integration of crypto-economies so that they can focus on core game design. It remains to be seen whether: (1) cookie-cutter tokenomics can meet studios' needs and (2) @VisionsDAO can provide compelling case studies

Offering token rewards for daily habits (e.g. walking) has proven to be a successful strategy. With that being said, @MetaSing_io and other startups that use this strategy may want to expand the utility of their native tokens beyond gamified finance.

As a proxy for demand, the leading privacy-centric messaging app has 10s of millions of users and is expanding its SOM by integrating crypto payments. In the hopes of displacing the incumbent, @Satellite_im is differentiating by supporting 4K streaming and 4GB file shares.

In addition to challenges that SSI startups face across the board (e.g. lack of consumer interest), @dotbitHQ will have to contend with the questionable popularity of ".bit" as an extension. As it integrates with more and more apps, the protocol becomes more and more useful.

@datawispio is cutting non-technical crypto professionals' dependence on engineers/data analysts to extract relevant information from blockchains and get their jobs done (e.g. setting KPIs based on TVL or analyzing wallet/user activity for a competing product).

Although @UltimateMoney is supporting a standard feature set, it is worth noting that: (1) @UltimateMoney is hoping to differentiate by curating high quality DeFi apps, (2) 300k users have pre-registered to use the wallet, and (3) @UltimateMoney has home-court advantage in European markets

Unlike traditional animation studios, @InvisibleUniv empowers audiences by: (1) iteratively refining and validating social media native cartoon IP based on community response (check out @RealQaiQai) and (2) bringing NFTs to life through animated series (check out @r3almetaverse)

Although tokens can help reinforce pre-existing behaviors and sometimes even facilitate the development of new ones, @ReadOnMe3's complex tokenomics serve as a point of friction and a repellant for mainstream users.

Robinhood and Cash App only support the crypto round-up functionality with their native cash cards. On the other hand, @getbitscrypto supports crypto round-up for any debit/credit card & bank account.

Although @MarqVision has competitors that are exclusively focused on NFTs, @MarqVision's wider market focus allows it to: (1) train its AI with much larger datasets for commercial-grade applications and (2) establish mind share with brands regardless of their current web3 footprint.

Methane is a potent greenhouse gas and municipal solid waste landfills are the 3rd largest source of human-related methane emissions in the US (EPA). @Vespene_Energy is hoping to make productive use of this waste gas using microturbines that convert burned methane to electricity.

Although @MerkleScience is operating in a crowded market space:

• The market is big enough to support multiple 'winners'
• The market is growing as institutional adoption, regulatory scrutiny, and hacks/exploits increase
• ‍@MerkleScience has managed to secure 70+ clients

Zero-knowledge proof systems are popularly used to address network scaling issues and build privacy-preserving dApps. @RiscZero is hoping to further accelerate the adoption and integration of zero-knowledge proof systems by making the technology more accessible.

The creation and configuration of local testnets is a relatively unsupported workflow and @KurtosisTech is anticipating a growing need among developers for private testnets and public testnets that are easy to configure by use case.

@metaversego_gg (1) abstracts away wallets, exchanges, etc. for gamers and (2) is integrating features targeted for Asian markets (e.g. paying bills with crypto). In doing so, @metaversego_gg assumes that crypto game developers will not be inclined to natively build this onboarding flow.

Structurally, DAOs are better suited to invest in creators and provide more value-add to creators as opposed to pure-play creator financing platforms/funds because they can leverage network effects to discover, pick, and incubate the next superstar.

Although there are a multitude of SSI offerings in the market, @socketxyz is notable for:

• Having a human-centered design (in reference to its website)
• Shedding light to immediate use cases for SSI and building the product accordingly

@debtdao is hoping to differentiate from incumbents like Pipe by: (1) providing borrowers/lenders more flexibility in shaping terms (P2P model), (2) not enforcing KYC, and (3) being crypto native. With that being said, it is unclear how loans processed by @debtdao are undercollateralized.

Packaging NFT renting as a protocol holds tremendous potential because:

• It allows @renftlabs to capitalize on the existing market for NFT renting (primarily in gaming)
• Accelerates the emergence of new use cases (e.g. in fashion) by lowering barriers to entry for developers

Sophisticated investors use structured products & exotic options to exercise investment strategies customized to their risk-return profiles. It is still unclear what differentiates @OrBit_Markets from established crypto-friendly banks/prime brokers that offer comparable products.

As membership in a DAO grows, it becomes remarkably difficult to stay up to date with the latest/relevant information. @Iluma_xyz is differentiating by addressing the aforementioned issue with:

• An inbox inspired by Superhuman
• Tools for conversational automations

@veefriends exemplifies how crypto-economics can create a mutualistic relationship between creators and superfans since:

• Gary is able to reward his top supporters and determine the 'fair market price' for his offerings
• Gary's superfans can turn expenses to (risky) investments

@FCBarcelona is ahead of the curve in establishing a presence in the Metaverse given it is already powering a whole host of applications (e.g. experiences, e-commerce) with a utility token called $BAR. Brands like @FCBarcelona will ultimately bring crypto to the mainstream.

Although the market is crowded with functionally comparable offerings, @centerapp:

• Is differentiating by quickly scaling support for 10+ blockchains
• Has managed to secure other VC-backed startups (including Astaria, 0x, and JPG) as customers

Traditional yield generation vaults implement complex, long-duration strategies that: (1) most users do not understand, (2) can take a toll on active investors, (3) may not deliver higher returns than single trades. @STFX_IO is unbundling traditional vaults to address these shortcomings.

The RFQ model uses off-chain pricing functions to:

• Provide tighter quotes, zero slippage, and MEV-resistance to traders
• Unlock smarter pricing strategies, single-sided liquidity, and zero impermanent loss for LPs

, in addition to enabling bridgeless cross-chain swaps

As the number of music NFT platforms grows, collectors may use @spiderville_xyz to streamline the discovery of music NFTs. With that being said, @spiderville_xyz has yet to offer a value proposition for consumers who can simply listen to music NFTs on Spotify, Soundcloud, etc.

Adaptability is perhaps the most underrated differentiator for young blockchains just as it is for young startups; @AptosLabs has architected the network in accordance with this belief all the while attempting to tackle the blockchain trilemma.

@PlayMightyHero is hoping to create a playbook for web3 gaming that adheres to the community ownership model without compromising on:

• First principles for game design: fun and fairness are prioritized above all
• Inclusivity: participation in crypto-economics is voluntary

With its protocol, @cardinal_labs is broadening the scope of use cases for tokens by unlocking a spectrum of token ownership rights. Although it is tackling identity authentication with an innovative DAO framework, it is worth noting that the solution has a lot of moving parts.

In addition to supporting features standard to decentralized social networks like NFT-gated community access, @DSCVR1 is streamlining NFT airdrops. To delight users, the NFT airdrop mechanism will need a more flexible design and IC will need stronger network effects.

@Optic_xyz is having no trouble differentiating in an increasingly fragmented market space with its technology given:

• OpenSea is using @Optic_xyz to combat fraud
• ‍@Optic_xyz's AI is uniquely able to tackle diverse use cases

@amgistudios is tapping into some of the hottest trends at the intersection of crypto and media by strategically repurposing IP across projects. In doing so, @amgistudios is diversifying revenue streams and building a comprehensive tech stack potentially at the expense of focus.

As a first mover, @jet_learn is capitalizing on:

• The crypto industry's reputation for onboarding high school prodigies into full-time roles
• An anticipated increase in crypto-native parents with high salaries
• Kids' growing exposure to web3 through gaming, social media, etc.

Crypto talent is difficult to find during a bull run, which points to a leaky talent pipeline and the opportunity for crypto HR tech. While bounty programs are effective in sourcing devs, Inflection Points additionally represents folks who are non-technical or new to crypto.

BNPL can make NFTs more accessible. @realsupermojo is cleverly using BNPL as a wedge to lock-in consumers in its wallet product. Unfortunately, @realsupermojo is currently exposed to (avoidable) financial risks because it doesn't use smart contracts to automate payment collection.

@HalbornSecurity is one of the few crypto security firms to provide high-touch advisory services. Its expertise in crypto security can be gauged by the quality of its clientele: Coinbase, Yuga Labs, Solana, Ava Labs, among others.

@farcaster_xyz is designed to:

• Accommodate a spectrum of user experience preferences
• Achieve sufficient decentralization using on/off-chain architecture that circumvents the scaling limitations imposed by blockchains

While zk-proofs and MPC schemes have become staples in the crypto tech stack, FHE schemes have not seen similar adoption because they aren't developer-friendly. In resolve, @SunscreenTech has built a compiler to boost the exploration of use cases at the intersection of FHE/crypto.

Although there are comparable technology providers in the market, @HologramLabs differentiates on the following vectors:

• Customer service: @HologramLabs provides its services to NFT owners on-demand
• Business model: creators are able to access @HologramLabs' software

@arkive is capitalizing on:

• The art community's embrace of crypto
• Proven retail interest for culturally significant artifacts (e.g. ConstitutionDAO)

It is worth noting however that @arkive members currently vote on which art pieces to acquire but do not fund the acquisition.

@EmpiricNetwork leverages:

• Zk-computation to make data feeds tamper-proof
• StarkNet's low gas fees to make data publishing & verification on-chain economically feasible

With that being said, @EmpiricNetwork has yet to disclose specifics on how it solves the oracle trilemma.

@BR1METAVERSE offers a fresh game design at the intersection of gaming and betting. While there are many shooter games that allow players to bet against each other in a 1v1, @BR1METAVERSE has players compete/bet against each other in a battle royale.

@KlangGames is hoping to simulate life by using:

• Improbable to create an always-on environment that can host thousands of players concurrently
• AI to generate thousands of non-playable characters
• Crypto to build an economy

Peer-to-peer and peer-to-pool money markets have their own set of advantages and disadvantages. @MorphoLabs provides borrowers and lenders programmatic access to both market structures in a manner that optimizes their APY.

@gnosisSafe has become the go-to-technology provider for businesses operating across DAO tooling, wallets, treasury management, and NFTs. In doing so, @gnosisSafe has also set a great example on how crypto-economics can create a business case for open-source code.

Network latency can make or break cloud gaming experiences. @Portalverse_Net is hoping to capitalize on the fact that:

• Moving GPU compute to the edge can minimize latency.
• As ETH shifts to PoS, miners that use gaming GPUs will search for alternative sources of income.

According to research by Fidelity, nearly half of cryptocurrency owners donated $1,000 or more to charity in 2020, compared to one-third of all investors. The enterprise segment has substantial whitespace and @getchangehq has momentum with customers like SuperRare and Metaplex.

Since digital fashion democratizes the production & distribution of garments, the distinction between high & low fashion can blur in the Metaverse. In order to justify their price points, premium studios like @tribute_brand are hoping to differentiate on experience and reputation.

Points from loyalty programs have traditionally been highly illiquid. By tokenizing them, @qiibee allows consumers to trade and even profit from loyalty points. In order to maximize liquidity and outperform competitors, @qiibee may want to establish partnerships with exchanges.

The spatial web promises a transition from landing pages to landing spaces. Compared to traditional "metaverse platforms" like Roblox, @monaverse:

• Gives creators more creative freedom
• Brings the Metaverse to consumers (instead of the other way around)

The development and maintenance of critical infrastructure (like water plants) requires a stable source of funding. Since $H2ON can be freely traded on exchanges, it is not a great fit as a source of funding.

In doing so, @_p12_ is taking on the challenge of:

• Building a digital economy that functions like a real world economy
• Protecting the financial interests of crypto gamers at scale
• Attracting game developers to an ecosystem where they have to cede some level of authority.

@KYVENetwork is operating with 2 business models:

• Direct-to-developer: allowing devs to query blockchain data w/ an API; @KYVENetwork is competing with strong incumbents here
• B2B: selling indexed data in other indexer networks; this model has a questionable value proposition

@alt_layer is hoping to capitalize on the following developments:

• dApps are migrating to their own app-chains due to push and pull factors
• Some dApps have an impermanent need for app-chains
• Optimism has received a stamp of approval from high quality investors

Users are incentivized to collect $FITT tokens to upgrade their @FitmintClub sneaker NFTs. While an Australia-based direct competitor has acquired 500k+ DAUs for this concept, @FitmintClub is hoping to build a stronghold in India and further Narendra Modi's Fit India Movement.

If the market landscape for wallet providers and blockchains remains fragmented, dApp developers will have an indispensable need for tools like @dynamic_xyz. Of course, this assumes that wallets will remain as the de-facto identity standard for web3 login.

Soba is essentially building a web2.5 counterpart for Roblox/Rec Room. Given the bulk of gamers on these platforms are under the age of 16, crypto-economic incentives will take a backseat to the quality of the gaming experience.

App stores are the cornerstones of centralization on the Internet, which is why it is rather ironic to download crypto apps from them. Although @MagicSquareio is charting new territory with a decentralized alternative, it has to deal with an overwhelming number of moving pieces.

Fortnite set a great example on how:

• To create consumer demand for choreography.
• Easy it is to use choreography without choreographers' consent.

Since web3 has the ethos of empowering creators, @HEAT__TECH wants to make sure that choreographers & dancers aren't left behind.

While most social trading apps support copy trading, @leagueoftraders is one of the few to host trading competitions. Fortunately for @leagueoftraders, startups that have raised billions of dollars in this category are currently focused on Western markets.

@WeatherXM is hoping to take advantage of Helium's network effects by building Helium-compatible weather stations, which allow users to mine both $WXM and $HNT. As global climate patterns become increasingly hostile/unpredictable, the market for weather data is positioned to grow

Unlike its predecessors, @azuroprotocol is hoping to scale liquidity and attract the mainstream betting community using its peer-to-pool architecture. But if the experience is, at best, comparable to the status quo, @azuroprotocol may want to better clarify its value proposition.

@RLTY_Live is operating in substantial whitespace with its toolkit for virtual event planners. There is proven demand for virtual event planners (e.g. in Roblox, Decentraland, etc.) and @RLTY_Live is hoping to capitalize by increasing the supply.

@Circulor1 understands that storing supply chain data on blockchains is only meaningful if the data inputs are high quality. For that reason, @Circulor1 digitizes and standardizes data logging via QR codes, facial recognition technology, smartphone entries, and more.

Traditional toys/collectibles are simply expenses for parents. @Cryptoys is hoping to better align the interests of kids and parents by democratizing ownership over the underlying toy IP and transforming expenses to investments.

Treatments for rare diseases are put on the back-burner because investment priorities in the pharma industry are shaped by projections of commercial success. @vibe_bio is hoping to address this by pooling liquidity from investors that are not purely driven by financial interests.

There is high demand for this data among traders, fintechs, research analysts, and other financial service providers. A great gauge for the quality of @KaikoData's data is the quality of its clientele: Bloomberg, Messari, Chainlink, Ledger, and Paxos.

Kids have embraced digital assets and economies since the dawn of modern gaming. Barring commentary on the negative impact social media and the financialization of content may have on kids, @ZigazooKids is a positive influence as an accelerant for the mainstream adoption of web3.

NFT accounts are taking social media by storm in both number and engagement. In stark contrast to the equal footing web2 social networks provide to all users (more or less), @EyesFi_xyz provides asymmetrical opportunities & benefits to users based on their NFT holdings.

@terriblepets is hoping to bring comics to life by community-sourcing creativity/content. Although this first principles approach to media creation can be effective, it is worth noting that single-panel comic NFTs are substantially less attractive than comic book character NFTs.

@CastleLinkHQ is building a reactive product that tackles inefficiencies in the market (e.g. liquidity fragmentation) and doubles down on the most popular market trends (e.g. party bids as a means to democratize investment in NFTs, batched transactions to drive cost efficiency).

Cross-game player profiles can unlock exciting new experiences for gamers like the ability to port player rank/wealth from one game to another. To this end, @OwnYourSaga will have to establish partnerships with a critical mass of game studios.

During market downturns, investors prioritize investment in profitable, cash flow-positive ventures. @MagicEden fits the bill and commands ~97% market share for daily Solana NFT transactions (as of June 1st). Congratulations on the milestone, team!