⭐ Why Reputation is Key for Web3 & NFTs ⭐

Impersonation scams are a growing concern in the cryptocurrency industry, as highlighted in a recent CoinTelegraph report. These sophisticated attacks use phishing emails to deceive individuals into believing they interact with legitimate entities, only to defraud them. In one instance, scammers used a fake news article to promote a non-existent Amazon token sale, demonstrating their lengths to appear credible​​.

This is where the importance of Ludo's products comes in. By creating a system where the authority of blockchain addresses, projects, and users is evaluated and scored, Ludo provides a layer of trust and verification that is much needed and unmatched.

Our platform's approach to Web3 reputation management could significantly help identify and steer clear of such scams, ensuring that users engage with verified and reputable entities. This trustworthiness is critical for the safety and integrity of the Web3 ecosystem, making Ludo's solution beneficial and essential.

Ludo Rank: Measuring On-Chain Reputation

The Ludo Rank is the centerpiece of our product suite and revolutionizes how we see reputation in the Web3 world, providing a unique system to measure the reliability and influence of blockchain projects and users.

Ludo Rank stands out because of its dynamic approach to calculating on-chain reputation, ensuring that interactions within the Web3 space are based on trust and proven credibility. It measures the credibility and influence of Web3 entities through a unique system. Ludo Rank evaluates blockchain addresses, projects, and users based on their interactions and the quality of their contributions to the ecosystem. High-ranking projects issue NFTs that carry trust to their new owners, who share and spread this trust by engaging with other high-quality projects. This cultivates a community where participants are motivated to connect with reputable projects, enhancing their standing and contributing to a virtuous cycle of reputation enhancement in the Web3 space.

By prioritizing reputation-driven curation, Ludo Rank is pivotal for anyone looking to navigate the Web3 space with confidence, promoting a secure and authentic community for digital creators and investors alike.

We will introduce the first public version of Ludo Rank to everyone as part of Ludo X. This marks our entry into the Era of Reputation-Driven Curation. This significant step will benefit digital creators and investors worldwide, enhancing trust and transparency in the Web3 landscape. Get ready for an exciting journey ahead!

Ludo X: Your Gateway to NFTs and Web3 ⭐

Are you ready to navigate the dynamic world of NFTs with ease and confidence? Introducing Ludo X, a groundbreaking Chrome extension designed to revolutionize your journey through the ever-evolving landscape of NFTs and Web3. With the digital realm growing more complex by the day, Ludo X emerges as your trusted guide, ensuring a seamless, secure, and enriching experience.

Why Ludo X?

Ludo X isn't just another tool; it's your compass in the vast universe of Web3. Leveraging advanced technology, including the innovative Ludo Rank algorithm, Ludo X offers curated discovery processes, real-time insights, and instant reputational scores for NFTs. Whether you're a seasoned trader or new to the space, Ludo X demystifies the NFT world, making it accessible and navigable for everyone.

Features at a Glance:

• Curated Discoveries: Dive into high-quality NFT opportunities with our reputation-driven and curation-based algorithms.

• Ludo Rank: Get instant reputational scores to effortlessly distinguish between authentic and fraudulent NFTs.

• Earning Opportunities: Explore various avenues to participate and benefit financially in the Web3 space actively.

• Seamless Integration: Ludo X works across different NFT marketplaces and blockchains as a Chrome extension, enhancing your experience without boundaries.

Exciting News: Launch and Early Access!

We're thrilled to announce that Ludo X will officially launch in Q2! Before our public launch, Ludo will hold an exclusive, invite-only access event this month (March)! We are inviting partners, VIPs, and KOLs to this unique opportunity to explore Ludo X's capabilities and how it can transform the Web3 journey. In April we will share all the details about this event with you in our newsletter.

Interested in gaining early access to Ludo X? Don't hesitate! Reach out to us at [email protected] to secure your spot and embark on your NFT journey with confidence and clarity. With Ludo X by your side, the world of NFTs is yours to explore and conquer.

Join us in welcoming a new era of NFT and Web3 exploration with Ludo X. Your adventure begins now!

🚀 Web3 & NFT Pulse Check! 🎨 📊

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Ludo’s Industry Digest 🗞

We've read all the important Web3 news in January, so you don't have to, and filtered the most important ones. So let’s have a look…

NFTs 👛

Perfume DAO: A decentralized autonomous organization (DAO) has partnered with Rook Perfumes to create a novel fragrance, "Scent of the Metaverse," now available at the luxury department store Harvey Nichols in London. This unique initiative allowed members of the DAO to participate in the fragrance's creation process through NFT "access tickets," making them co-owners of the scent. This project exemplifies the innovative intersection of DAOs, NFTs, and real-world luxury goods​​.

“NFT” Token: Magic Eden, a leading cross-chain NFT marketplace, is launching a significant transformation. The company announced a new initiative to open-source its minting and trading protocols, collaborating with the Non-Fungible DAO. This move is part of a broader strategy to decentralize Magic Eden's platform. Additionally, Magic Eden plans to introduce a crypto token named "NFT" to reward active participants in its ecosystem. This development marks a new era of user empowerment and community engagement in the NFT space.

Trump & Ordinals: NFTs on Bitcoin are becoming more and more mainstream. Former U.S. President Donald Trump is venturing into Bitcoin Ordinals, launching a new NFT collection minted on the Bitcoin blockchain. This move is part of his effort to rejuvenate his NFT ambitions, involving a series of 200 NFTs from the Trump MugShot collection. This collection is a new approach following a less successful initial NFT drop, marking Trump's continued exploration in the digital collectables space.

X Profile Pictures 💀: Elon Musk's company, X, has quietly removed a feature for its paid subscribers, discontinuing the option to set an NFT as a profile picture. This change comes amid the company's plans to introduce new features like peer-to-peer payments and AI-powered tools. Originally launched in January 2022, the NFT profile picture feature had allowed users to display their NFTs in a unique hexagonal shape. The removal reflects a broader trend in social media, with other platforms also scaling back their NFT initiatives​​.

Pudgies dominate: With a floor price of 20 ETH, Pudgies are on a spree, keeping their strong narrative from the previous year. The Pudgy Penguins NFT brand experienced a remarkable year in 2023, with significant growth and innovation. Key highlights included technological advancements, the introduction of Soulbound Tokens, strategic partnerships, and expansion into retail with Pudgy Toys. Their initiatives in community building, events like "Midnight in Paris," and entry into new markets underscored their influence in the NFT and collectible space.

Fractionalized NFTs: WOO X has started allowing users to trade fractionalized Pudgy Penguins and Bored Apes Yacht Club tokens, a move that disrupts traditional NFT marketplace exclusivity and expands access to NFTs. This development, facilitated by Flooring Lab listing its fractionalized NFT ownership µ-Tokens on WOO X, with Protecc Labs providing algorithmic liquidity support, represents a significant step in making NFTs more accessible and tradable on centralized platforms​​.

Bitcoin  🌐

Bitcoin ETF approved: The U.S. Securities and Exchange Commission (SEC) has approved the first U.S.-listed exchange traded funds (ETFs) that track Bitcoin, marking a significant milestone for cryptocurrency. This approval, involving 11 applications from major financial institutions, is expected to greatly boost the crypto industry and provide investors with more exposure to Bitcoin without directly holding it. The decision reflects a significant shift in the SEC's stance on cryptocurrency, potentially paving the way for more innovative crypto products​​.

Seized Bitcoin: The US plans to sell about $117 million worth of Bitcoin confiscated from Silk Road-linked drug traffickers Ryan and Joseph Farace. The sale follows their recent money laundering conspiracy convictions. Interested parties, other than the defendants, have 60 days from January 10, 2024, to claim interest in the assets before the government disposes of them. This move comes as part of the US Justice Department's ongoing efforts to manage seized criminal assets.

Gaming 🕹

Pixel: The Ronin game Pixel made headlines after its token launch and airdrop. The game is a new addition to the crypto gaming space, emphasizing its playability without requiring NFTs or exclusive access. Described as a fun, free-to-play game reminiscent of Animal Crossing, it offers players farming activities beyond mere crypto farming. With a vibrant community and ongoing development, Pixels represents a promising blend of gaming and crypto elements, making it a noteworthy game for both casual and crypto-focused gamers.

Crypto & DeFi 🚀

Ethereum's Final Testnet Upgrades: Ethereum developers have scheduled final testnet upgrades, known as 'Dencun', for late February or early March. These upgrades aim to reduce transaction costs on layer 2s and enhance data availability on the blockchain. Successful tests on the Sepolia and Holesky networks will pave the way for this major Ethereum blockchain update, marking a significant step in its technological evolution.

WEN Airdrop: The new Solana meme coin, WEN, gained attention after being airdropped to over a million wallets via Jupiter's DEX aggregator. This airdrop was part of Jupiter's test for its new launchpad. WEN's reach was extensive, targeting various Solana wallet holders, and each eligible wallet received over 643,000 WEN tokens. Since the airdrop, WEN's value has seen a significant increase, though prices are known to be volatile, especially for meme coins. Solana's network managed the high demand during the drop, indicating its growing influence in the crypto community.

ALT Airdrop: Airdrop season in full force: AltLayer, an Ethereum scaling protocol, has launched its ALT airdrop, distributing over $100 million worth of tokens to early users and select ecosystem participants. The airdrop aims to reward early adopters and decentralize governance. The ALT token's value has seen an 18% increase since the airdrop. Nearly 500,000 wallets, including AltLayer NFT holders and pre-launch testers, are eligible for the airdrop, which ends on February 25. Unclaimed tokens after this date will go to the AltLayer treasury.

Higher! Traders show optimism for a new all-time high as Bitcoin maintains its position around $52K, with a notable 12% gain over the week and a surge in trading volume, the highest since the year's start. This activity aligns with the debut of 10 spot Bitcoin ETFs. The derivatives market's tilt towards call options reflects a bullish sentiment. Additionally, U.S. spot Bitcoin ETFs have seen significant inflows, and VanEck has reduced its ETF fees to enhance competitiveness.

$STRK Fiasko: Another airdrop made the headlines in February. The airdrop distribution was met with outrage by the community as many active users did not receive any tokens complaining about shady practices.

Legal & Regulation 🏛

No ETH ETF yet: The U.S. Securities and Exchange Commission (SEC) has postponed its decision on BlackRock's proposed spot Ethereum ETF to March 10. This extension allows the SEC more time to consider the fund's implications. BlackRock's iShares Ethereum Trust and Fidelity's Ethereum Fund applications are both affected by this delay. The decision follows recent approvals of spot bitcoin ETFs, but SEC Chair Gary Gensler emphasizes that these approvals are specific to Bitcoin and should not imply a broader acceptance of crypto-linked exchange products.

Brands in Web 3: From Blockchain Banking to NFT Marketplaces

Dive into the transformative power of NFTs in commerce and finance in our latest Ludo newsletter edition! We're exploring how digital assets reshape industries, from enhancing transaction security to democratizing finance.

Discover the roles of major financial institutions and innovative startups in leveraging NFTs for growth and customer engagement. Join us for an insightful journey into the dynamic intersection of traditional finance and Web3. Don't miss out on this deep dive into the future of digital transactions and asset ownership.

📣 What are your takes on the recent developments in Web3? What project do you want us to look at? What breaking news did we miss?

Join the discussion with our experts on Ludo’s social media channels:

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Socialverse

The most interesting Twitter post and threads we have come across recently 👇