The Solana memecoin hype continues, Backpack’s beta section was profitable, and Starbucks is scaling again its NFT program

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Howdy and welcome again to the fromcrypto Crypto publication.

This week, Starbucks killed its Odyssey NFT program that launched in 2022, Solana continues to see memecoin momentum, and India faces extra points within the crypto area as authorities companies crack down on it.

Particulars under.

This week on web site 3

1. Crypto trade OKX is ending its providers in India
2. Solana kicks off a brand new spherical of memecoin mania
3. How the Backpack crypto trade rose to success after its fundamental investor FTX died
4. Starbucks is dropping its Odyssey NFT program
5. Blockchain know-how could possibly be the reply to detecting deepfakes and verifying content material

Tough numbers

Crypto market costs had been decrease this week, however nonetheless comparatively robust in comparison with earlier months.

Bitcoin was down 6.5% on the week to $67,300 and up 32% on the month, on the time of publication. The second-largest cryptocurrency, ether, fell 8.6% for the week to $3,550, in response to knowledge from CoinMarketCap. Complete cryptocurrency market capitalization decreased by 6.3% to $2.55 trillion throughout the identical time interval.

Newest sub

Chain Response prepares a month-to-month collection delving into varied matters and matters within the discipline of cryptocurrency. This month we deal with the mixing of blockchain and synthetic intelligence.

For this week’s episode, I interviewed Tegan Kline, CEO and co-founder of Edge & Node.

The corporate focuses on the creation and help of decentralized functions or dApps and protocols. It was additionally the primary staff behind The Graph, an indexing and querying protocol or what some have known as the Google of web3, which goals to prepare open blockchain knowledge and make open knowledge a public good.

Tegan started her profession in funding banking earlier than shifting to work as an government vice chairman of the blockchain-powered and AI-analyzed patent market. This launched her profession in web3, knowledge and AI options. Previous to co-founding Edge & Node, Tegan labored as Worldwide Enterprise Growth Supervisor for Orchid, a16z and Sequoia VC-backed VPN.

This episode is a part of Chain Response’s month-to-month collection that delves into varied matters and matters within the cryptocurrency area. This month targeted on the mixing of blockchain and synthetic intelligence.

We speak with Tegan about The Graph community, knowledge indexing and its broader use case for the Web, in addition to his “blueprint for a brand new period” popping out in November 2023.

We additionally talk about:

• The Graph implementing AI options
• What dApps will unlock for AI in the long run
• Why AI Would not Care About Cryptocurrencies
• With a profession bounce to the web3

Describe Chain response on apple podcasts, Spotify or your favourite pod platform to maintain up with the most recent episodes and go away us a evaluation when you like what you hear!

Observe the cash

1. Former Grindr CEO and married couple launch Rails with $6.2 million cost for decentralized FTX different
2. The Avalanche Basis proclaims a $1 million liquidity mining incentive program, Memecoin Rush
3. Morph raises $20 million in seed and angel funding for its EVM layer-2
4. Mantra Raises $11 Million to Increase Actual-World Asset Tokenization within the MENA Area
5. It beforehand raised $2.5 million to make DeFi extra accessible by way of an all-in-one platform

This listing was compiled primarily based on data from Messari in addition to fromcrypto’s personal reporting.

What else are we writing?

Do you wish to department out from the world of web3? Listed here are a couple of fromcrypto articles that caught our eye this week.

1. Reddit values ​​the IPO at $34 per share, the highest of the providing
2. NBCUniversal’s Peacock allows you to watch 4 reside streams directly for the Paris 2024 Olympics
3. Astera Labs IPO reveals how a lot buyers need in AI
4. After elevating $1.3 billion, Inflection is being eaten alive by its largest investor, Microsoft
5. Late-stage VCs could stop their startups from going public in 2024