First posted on https://www.bulbapp.io/
Good morning/evening
Commonwealth update (Priceless Fund)
If you have not read any of my previous articles on Commonwealth, it is a selection of early stage projects that have been picked by the 'oracles' of crypto and put together in a fund.
Sometime ago I did all the tasks required to earn a slice of the Commonwealth priceless fund, what I did not do as I was away working was buy and stake some of the WLTH token. The window to stake and earn 214% closed in July.
As the market has been a little red shall we say, my $1000 'investment' (cost me nothing) is now worth $1098, down from the $1400 it was last time I checked it, but I have earned some rewards from the platform of almost $38 in USDC. I have not claimed yet and as I have no WLTH staked I will have a 40% fee when claiming.I will give it time and see what happens. Most of the tokens are still pre launch or vesting.
Commonwealth (Alpha Fund)
Now Commonwealth also released an Alpha fund which was for people to buy into. The Alpha fund has the same projects that the priceless fund has but also currently 5 more projects with 2 others as a possibility depending on if they get passed when voting starts.
I thought I would have a brief look at the 5 new projects that are in the Alpha fund.
BITLAYER
The primary focus of Bitlayer is to fix the scalability of the Bitcoin network
Bitlayer says it is the first Bitcoin Layer 2 solution based on BitVM (Bitcoin Virtual Machine). Bitlayer aims to enhance the Bitcoin ecosystem by providing secure scalability, promoting diversity of assets, and encouraging innovation. Ultimately, it seeks to offer users a faster, safer, and more flexible experience. They state that Bitlayer is 100% EVM and Ethereum toolchain compatible and will use BTC as the gas token at an average cost per transaction of $0.10. I have added this to my forever growing 'To do list' to research more thoroughly as I like the idea of this one even if it does sound like Stacks.
NEXIS NETWORK
The Nexis Network is a platform combining AI and blockchain technology, to be scalable, private and secure to enable the development and deployment of data driven applications and storage. I found the UI of the website quite glitchy and confusing and to be honest I am still none the wiser as to what it is!
Nexis enables real-time access to data and cross-chain interoperability between both Rust and EVM based blockchains and applications, thus facilitating low-cost, scalable, highly accurate and dynamic risk assessment models for RWAs and Machine Learning (ML) models for Artificial Intelligence (AI).
Bluwhale AI
Bluwhale is an AI personalization protocol helping dApps gain insights into their user wallets across chains for profiling, targeting, and discovery of potential customers. The company not only uses AI to aggregate and visualize crucial information but also drives the best wallet matching and social dynamic between consumers and enterprises via messaging (on/off-chain). This will help projects aggressively grow their user base, while consumers turn their digital footprint into profitable assets.
Mind Network
Mind Network is a restaking layer utilizing Fully Homomorphic Encryption technology to improve security and efficiency in AI and POS networks. (FHE enables complex mathematical operations to be performed on encrypted data without compromising the encryption).
The network supports staking assets from partners like Puffer, Ether.fi, Renzo, Swell, and Pendle. By participating in restaking, users can earn Mind XP and other rewards without having to bridge so the assets can stay on their own chain.
Mind Network is backed by Binance among others and received a grant from the Ethereum foundation.
LiveART
Live art is a RWA platform that will enable the tokenization and fractionalization of fine art as well as NFT collections and ordinals, bringing them to retail collectors and the broader Web3 community. They will use the ART token
This project seems to be backed by some of the big exchanges including Kucoin and Binance and has a points program for a possible airdrop.
To conclude
Please remember I have just had a basic look at these projects to see if any of them may appeal to me and warrant a deep dive, I will probably have a further look at Bitlayer and although I am not into art the LiveArt site keeps pulling me back so I may look at that too. I have not verified that these projects are in fact 'backed' by who they say they are, being backed by does not always mean they are!
What are your thoughts on any of these projects? Do any of them apeal to you? As always DYOR though.
As always thank you for reading and please feel free to comment.
