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
Question: Where is Solana's blockchain data backed up?
— Coin Bureau (guy.eth) (@coinbureau) August 28, 2021
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.
We just deployed 20,000 images, data entries and files to mainnet in a few dozen TXs.
This is like if Ethereum had removed all scalability limits in May 2017.
— Sam Williams 🐘 (@samecwilliams) August 29, 2021
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.
Our investment thesis about Arweave,the most feasible solution to make decentralised data storage gain wider adoption. Now it’s market share and cap still very small, but it will overtake filecoin’s dominance. Big thanks to @jeremyongws helped editing . https://t.co/fdDy07hdzh pic.twitter.com/82qI9Axe9b
— Molly (@bigmagicdao) August 30, 2021
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.
ENS is coming to Arweave via @argoapplive 😮
What does this mean?
It means any ENS domain, like example.eth, will be able to be loaded in a browser and point to an Arweave-hosted dApp 🔥
Amazing job, @prashant_xyz & the ArGo team
— Arweave.news (@ArweaveNews) August 28, 2021
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.
And here are three of the photos! Uploaded forever to arweave via @KoiiNetwork
This includes Paperbarks #1-1 and #1-2 which won't be for sale but might be given away (!!).
— Chris / articulate.eth (@art_icu_late) August 20, 2021
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.
Excited about writing for @KoiiNetwork, one of the most dynamic projects building on the permaweb!
— Ty Kroh (@ty_kroh) August 26, 2021
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:
If individuals are interested in being a part of the ‘Arweave Onboarders’ crew send a DM. Going to do some fun stuff with NFTs, etc. for those that participate.
Already have a few in the crew — very, very early stage.
This crew is focused on the 'human touch' layer 😎. pic.twitter.com/N5HONvWRmS
— Only Arweave 🐘⚡️ (@onlyarweave) August 29, 2021
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.
— ArDrive 🐘 (@ardriveapp) August 24, 2021
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.
The latest batch of @arringtonXRPcap portfolio companies!
Bull or bear, we will continue to fund innovative projects across all ecosystems, verticals or blockchains. pic.twitter.com/rqkO83cYpW
— Arrington XRP Capital (@arringtonXRPcap) August 28, 2021