Monday, June 17, 2024
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2021-08-31
By xylophone
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Arweave Ecosystem Weekly Report #3: AR Heads to the Moon and Takes the Ecosystem With It

Both token price and ecosystem usage hit an all-time high this week. Is it JPEG Summer on Solana, or is it thanks to mentions from high-profile influencers? Read on to find what’s making an impact this week in the world of Arweave.

I. Arweave Network

$AR price hits new ATH – up 56%

Amid NFT mania, and coupled with SOL, AR has shot up 56% this week to a new all-time high. The token has accelerated week-over-week interest for the past seven weeks as we see new hype from influencers and hot NFT projects choosing Arweave as the storage layer.

Spending on Arweave dApps up by 137%

According the the web3index, AR tokens being spent on ecosystem apps, like ArDrive and Verto, has grown exponentially this week. It’s not just the token price that’s rocketing – AR’s recognition for utility is up too. Arweave is now the #2 ranking web3 project by revenue on the index’s leaderboard, ahead of the The Graph, while Filecoin saw an 8% downturn.

Arweave blockweave size hits 11tb stored

The statistics on Viewblock state that Arweave’s total data stored has increased to 11tb. That’s an increase of one terabyte in the last six weeks, and can likely be attributed to Arweave’s growing popularity as a way to cheaply and permanently store NFT assets.

Arweave featured by Coin Bureau

 

The AR token price action this week coincided with Coin Bureau’s detailed coverage. Guy from Coin Bureau released a 20-minute video outlining Arweave’s use cases and history, emphasizing the protocol’s importance as a data storage layer for other blockchains.

New ANS-104 spec in action: 20k files in one go

A updated version for the binary data bundle spec was released this week by developer Josh Benaron. Building on ANS-102, the 104 update enables a way to store an increased number of large binaries (images, pdfs, etc) on Arweave in a single transaction. Read the spec and usage instructions here.

eGirl Capital publishes Arweave investment thesis

Following eGirl Capital’s Arweave investment and public announcement last week, the team has published a document to explain the reasoning behind their choice to take a position in Arweave.

“At the time of writing this article, I believe Arweave is the most feasible solution to make decentralised data storage gain wider adoption”, eGirl Capital’s Molly writes.

Arweave’s SmartWeave contracts forked and improved by redstone.finance

The team at redstone.finance are one of the ecosystem’s heaviest users of SmartWeave contracts. This week, Redstone released an updated version of the SmartWeave standard with important issue fixes, caching, and scalability improvements. Check the fork out here.

II. Ecosystem Traction

ArGo set to enable ENS domains for the permaweb

ArGo – an application deployment platform using Arweave for storage – has successfully integrated ENS domains as a way to direct users to sites and applications stored on the permaweb.

Verto to list its first NFT submissions

Verto’s recent UI upgrade also saw the introduction of Verto Spaces – an marketplace built on the Arweave protocol which enables creators and their audiences to buy and sell NFTs. One of the first community contributions is articulate.eth’s Bark Blocks – film photographs which represent the ‘algorithmic’ patterns of nature, in contrast to projects like Art Blocks.

Koii releases atomic NFT standard and new contest

Atomic NFTs combine the asset, metadata and smart contract into one Arweave transaction. With Koii’s new atomic NFT standard and contracts, it’s possible to create NFTs that can be bridged to the Ethereum mainnet and sold on marketplaces like OpenSea and Rarible.

RSS3 proposes Arweave integration

RSS3, an open protocol designed for content and social networks in the Web 3.0 era, is working on an integration with Arweave which will enable Arweave apps to automatically generate RSS3 feeds and send activity to platforms that support the standard.

Only Arweave is looking for enthusiasts to help with onboarding

Only Arweave, a project involved with helping new permaweb participants get started, is recruiting a team to help onboard users to the Arweave ecosystem. Get in touch if interested:

ArDrive recruits MC Lars as an ecosystem hypeman

Rapper and Nerdcore OG MC Lars is collaborating with ArDrive on content and memes to help spread the word to a wider audience. MC Lars’ collaboration with ecosystem follows an announcement of a 2021 album entitled Blockchain Planet.

Pianity offering 90% APY on NFTs

Arweave-based music NFT platform Pianity announced on August 30th that collectors will be able to earn yield from owning NFTs on the platform. The team hope this will incentivize buyers to keep collecting new pieces and supporting the artist community. Read more here.

Verto secures funding from Arrington XRP Capital

Arrington XRP Capital has announced that part of the next batch of funding will go to a core part of the Arweave ecosystem – Verto, a PST trading post. Arrington XRP Capital has previously invested in Polkadot, NEAR, Yat, Algorand, Ripple, and Arweave.

III. ICYMI

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