NFTs on Instagram?

In today's newsletter

• Company behind Metamask raises $450M

• Zuck reveals some shocking NFT news

• Yesterday's Sudden Crypto Spike

• GAS hits 2 year low.

• I Like You, You're Weird - Floor Price: .337 ETH

• Loser Club Official - Floor Price: .6 ETH

• CLONE X - X TAKASHI MURAKAMI - Floor Price: 12.8 ETH

• MURI by Haus - Floor Price: .68 ETH

Consensys, the parent company behind Metamask, recently raised $450 Million through its series D investment round, valuing the company at $7 Billion. 

Consensys is an enterprise that intends to build upon the existing web3 landscape through innovation, blockchain technology, decentralized finance, and more. Their goal is to empower developers, investors, companies, and anyone willing to leap into web3. As shown with Metamask, the company has revolutionized how many invest in NFTs today. Other notable Consensys products include Infura, a developer API software that allows Ethereum based integration for companies and DAPPs (decentralized applications). Another is Diligence, a product that helps developers, startups, and enterprises incorporate smart contracts safely and effectively into their own projects.

Despite their slew of innovative products, they've highlighted that a large portion of the new series D funding will be directed towards revamping Metamask with new utility and features. Some include a plug-in extensibility system (i.e., integration of new blockchain protocols), new and improved security infrastructure, and more. 

The Series D fund will also be utilized to:

• Hire 600 new employees

• Reinvest in Ethereum-based development and tooling

• Build upon Infura's development tool suite

• Scale and grow

It's safe to say that Consensys has established itself as one of the most prevalent enterprises of the web3 landscape. As its brilliant team continues to grow, web3 as a whole will undoubtedly grow with it.

Yesterday, Zuckerburg announced in a conference at SXSW that NFTs may be coming to Instagram sooner rather than later!

The social platform's NFT integration has been rumored for quite some time, and now it's been officially confirmed. Following Facebook's Meta rebrand, it's clear that Zuckerburg and his team are pushing for mainstream web3 adoption. Following what he mentioned in the conference, no official date has been announced, but he claims the platform's new feature will be available "in the near term."

NFT integration among social platforms isn't new by any means either. Aside from anyone's ability to change their profile picture, Twitter took it a step further by adding blockchain verification and hexagonal profile picture borders. While not official, Discord allows NFT verification via Collabland.

Nevertheless, NFT integration on Instagram would help bring web3 to the mainstream, which we can all get behind.

Yesterday, Bitcoin and other prevalent coins shot up from around $39,200 to a high of $41,715 in a matter of minutes. No one truly knows who caused this random spike; nevertheless, the price of Bitcoin fell just as fast it rose. Just like that, it was just another bump in the road.

My best guess? A whale bought into a significant position expecting tomorrow's federal rate hike to impact the crypto market positively.

On the other hand, my guess is just as good as anyone elses!

While I've had to fill up my car two times this week due to the outrageous gas prices, gwei gas fees seem to be pushing in the opposite direction. Ethereum gas fees recently hit a two-year low, most likely due to:

• Lack of volume as opposed to recent months

• The current crypto bear market

• Increased popularity in alt-chains

Enjoy the savings!

Nothing mentioned in this newsletter is financial advice, we are NOT financial advisors. NFToday was created with the intent to entertain those who choose to read and be a part of the community!