Today’s digital landscape is turning more towards decentralization and blockchain technology. One such platform gaining traction is the Sui blockchain, a Layer 1 platform making its mark in the Web3 market. So, why should you be interested in Sui?

Blockchain technology is shaping the future, with Sui, the inaugural product from Mysten Labs, playing a significant role. This article aims to familiarize you with Sui, the projects developing in its ecosystem, and why it holds potential in the Web3 space.

Understanding Sui

Sui Blockchain, developed by Mysten Labs, is an emerging blockchain platform that shows immense potential. With its unique features and specific programming language, Sui aims to solve persistent issues around scalability, security, and gas fees.

Their successful Series B funding round, netting a substantial $300 million, attests to the long-term potential of this blockchain platform. But what makes Sui stand out? Let’s explore more about Sui Blockchain, its structure, important features, and its token model.

Sui is a permissionless, PoS-enabled, Layer 1 blockchain crafted to provide immediate settlement, high throughput, and support a wide array of decentralized applications. Its flexibility and low latency allow developers to create Web3 projects that can handle the expected growth in Web3 users.

The Force Behind Sui

Mysten Labs, a Web3 infrastructure company, and their team include former executives from Meta’s Novi Research and experts in cryptography, programming languages, and distributed systems.

Evan Cheng, Mysten’s Co-Founder, and CEO, believes that the current Web3 space is still in its infancy—slow, expensive, insecure, and difficult to build on. Sui was introduced to remove intermediaries and allow users to engage with their chosen products across apps seamlessly.

Noteworthy features of Sui include its MOVE programming language and the Narwhal-Tusk consensus algorithm. MOVE is native to the Sui blockchain and enables parallel execution. In contrast, the Narwhal-Tusk consensus algorithm separates data transmission from transaction consensus, resolving a common issue in traditional blockchain designs.

The Sui Token

SUI is the native coin of the Sui blockchain, with a total supply of ten billion. It has various uses, including staking in PoS consensus, paying for transaction gas fees, and facilitating on-chain investor voting.

Within the Sui Blockchain ecosystem, SUI tokens mainly pay for transaction fees and are staked by validators involved in the transaction consensus process. Any fraudulent actions from validators lead to slashed, staked SUI tokens as a penalty.

Sui focuses on three main components: objects, transactions, and validators. It uses the MOVE programming language to enable the creation of Web3 applications.

With Sui explained, let’s examine the ecosystem that will shape the success of Layer 1 in the near future.

Despite launching its main net recently, Sui supports a growing ecosystem of more than 100 projects, including NFT marketplaces, DeFi dapps, and Oracles.

Let’s delve in!

Note that this list, current as of May 2023, will be updated with emerging projects as the ecosystem evolves.

Sui Bridges

1. OmniBTC: Bridging Cross-Chain Liquidity on Sui Blockchain

OmniBTC is a beacon project on the Sui Blockchain, showcasing its power as a decentralised cross-chain swap and lending/borrowing platform. It aims to centralise all on-chain liquidity, facilitating seamless, low-cost cross-chain transactions.

OmniBTC is bringing power to Sui with key features like Sui-DEX-Aggregation (which minimizes transaction slippage and costs), one-click cross-chain swaps across multiple VM ecosystems, and the ability to deposit assets on one chain and borrow on Sui.

The project addresses a crucial need in the Sui ecosystem: a robust cross-chain financial application. With OmniBTC, users can seamlessly bridge large funds from other public chains to Sui, deposit assets securely for increased capital utilization, and enjoy deep liquidity pools for large transactions. OmniBTC is a prime example of Sui’s potential in hosting next-gen decentralized applications.For more updates on OmniBTC, check out their Twitter page,

2. Celer cBridge: A Decentralized Asset Bridge Facilitating Cross-Chain Transactions

Celer cBridge is a decentralized, non-custodial asset bridge supporting over 150 tokens across over 40 blockchains and layer-2 rollups. It has processed nearly $13 billion in cross-chain transactions, serving over 350,000 unique users.

Celer cBridge is a key part of Celer’s blockchain interoperability protocol. It enables seamless access to tokens, DeFi, GameFi, NFTs, governance, and more across multiple chains, all with a simple one-click user experience. Developers can utilize the Celer Inter-chain Message SDK to build inter-chain-native dApps, while users can enjoy the benefits of a diverse multi-blockchain ecosystem through a single chain.

For more updates on Celer, check out their Twitter page..

DeFi on Sui

3. Umi: The Premier DEX Aggregator on Sui Blockchain

Umi is Sui’s first decentralized exchange (DEX) aggregator aiming to provide traders with the optimal swap route at the most favorable exchange rates by amalgamating multiple Automated Market Makers (AMMs), order books, and other liquidity protocols.

For more updates on Umi, check out their Twitter page.

Umi incorporates a graph search algorithm to identify the best swap route and offers a rapid, reliable API for smooth and quick trading. One of its standout features is the ability to swap any coins, increasing its versatility and utility.

Umi also provides a Software Development Kit (SDK) for developers. By integrating with the Umi aggregator, DEX and wallet developers can expand their reach to a broader customer base. Furthermore, Umi’s API allows professional traders to utilize a fast quote API, significantly improving trading efficiency.

4. Cetus: The Pioneer DEX and Concentrated Liquidity Protocol on Sui Blockchain

Cetus is a groundbreaking Decentralized Exchange (DEX) and concentrated liquidity protocol built on the Sui Blockchain, serving as a vital part of the ecosystem infrastructure. It caters to the diverse needs of traders, liquidity providers, developers, and derivative products, all driven by the burgeoning DeFi user base.

Cetus specifically focuses on the Move ecosystem aiming to establish a robust and flexible underlying liquidity network to simplify trading for all users and assets. Its primary goal is to provide the best trading experience and superior liquidity efficiency to DeFi users through developing its concentrated liquidity protocol and a series of interoperable functional modules.

For more updates on Cetus, check out their Twitter page.

5. MovEX: The First AMM+ Order Book DEX with Hybrid Liquidity on Sui

MovEX is the first decentralized exchange (DEX) on the Sui blockchain that combines the advantages of Automated Market Makers (AMM) and traditional order book models to provide a smooth trading experience creating a hybrid liquidity pool and enhancing the efficiency and effectiveness of asset swaps.

For more updates on MovEX, check out their Twitter page.

6. Sui Wallet: The Official Web3 Wallet for Sui Blockchain

Sui Wallet is the official web3 wallet for the Sui blockchain. This non-custodial web3 wallet, available as a browser extension, allows users to store, manage, and transact with SUI and other tokens and NFTs on the Sui network.

Sui Wallet is a user-friendly, secure, and efficient wallet solution designed for the Sui blockchain.

Other wallets for Sui include Suiet, an open-source wallet using zero trust architecture.

7. Abel Finance: A Cross-Chain Asset Lending Platform

Abel Finance is a cross-chain asset lending platform designed to facilitate a wide array of lending and borrowing options in the DeFi sector. 

In addition to conventional single-token lending and borrowing, Abel Finance takes a step further by allowing users to use LP Tokens and NFTs as collateral for stablecoin loans. This innovative approach broadens the possibilities for DeFi transactions and increases the utility of LP Tokens and NFTs within the ecosystem.

For more updates on Abel Finance, check out their Twitter page.

Sui Launchpad

8. SuiPad: The Community-Centric Launchpad on Sui Blockchain

SuiPad emerges as a pioneering decentralized, community-driven launchpad on the Sui Blockchain. Developed in an official partnership with Mysten Labs, the creators of the Sui blockchain, SuiPad fosters promising crypto projects on the Sui network through Initial DEX Offerings (IDOs), providing a well-curated and bespoke token launch experience for projects and investors alike.

SuiPad’s platform allows users to participate in early-stage token sales of carefully vetted Tier-1 projects via its flagship product. This allows investors to be part of promising projects from their inception.

For more updates on SuiPad, check out their Twitter page.

NFT & Gaming Projects on Sui

9. BlueMove: The Leading marketplace in Sui

BlueMove is a thriving NFT marketplace operating on the Aptos and Sui blockchains, emphasizing strong community engagement and a rewarding system built around MOVE tokens. Users connect via a compatible wallet, such as Martian, to create a public profile and start trading. The platform provides insightful statistics on top traders and collections, and a search function allows users to find specific NFTs or users efficiently.

The marketplace boasts an engaging interface, offering filters for NFTs based on visual cues or price indicators. BlueMove supports auctions or fixed-price sales, with a 2% trading fee plus the author’s royalty. Additionally, it provides a launchpad for creators to showcase their NFT collections, further contributing to the dynamism and inclusivity of the platform.

For more updates on BlueMove, check out their Twitter page.

10. Souffl3: Revolutionizing NFTs and GameFi on Sui Mainnet

Souffl3 is expanding its NFT marketplace and GameFi offerings to the Sui blockchain, providing enhanced user experience, scalability, speed, and security. As part of this expansion, Souffl3 is also launching a streamlined NFT cross-chain solution, aptly named Whitelist Activation Voucher (WAV), which aims to bridge the gap between Sui and Aptos. 

By leveraging Sui’s Layer 1 blockchain, Souffl3 aims to revolutionize the GameFi industry with its GameFi-as-a-Service (GaaS), providing developers with comprehensive tools to transform traditional gaming assets into NFTs. This strategic move is a testament to Souffl3’s commitment to continuously optimize its products and services to meet user demands and industry trends.

For more updates on Souffl3, check out their Twitter page.

11. Talofa Games 

Talofa Games is at the forefront of the augmented reality gaming industry, pioneering a unique real-world social running game that effortlessly blends physical activity, social interaction, and competitive gameplay. Their platform merges live audio coaching with virtual running companions, transforming the way players engage with fitness.

Their innovative approach to gaming aims to motivate players towards healthier lifestyles by making exercise more interactive and enjoyable. By integrating competitive elements and social connections into the fitness journey, Talofa Games creates immersive experiences that go beyond traditional gaming. If you’re seeking a fun, engaging, and health-conscious way to game, Talofa Games offers an unparalleled platform for fitness and fun.

For more updates on Talofa, check out their Twitter page.

12. Wizardland: A Mystical Collection of Wizard PFPs 

Wizardland is an enchanting collection of 2,222 wizard-based Profile Picture (PFP) NFTs launched on the Sui blockchain. MMORPG fantasy games inspire the project and seek to build a rewarding lore-based ecosystem for its holders and community.

Wizardland is more than just a collection of NFTs; it is an entire ecosystem based on lore. The project aims to tell a grand narrative through its wizard PFPs, fostering a sense of community and engagement among its holders.

For more updates on Wizardland, check out their Twitter page.

Infrastructure on Sui

13. Supra Oracle: A Leading Decentralized Oracle Network

Supra Oracle is a leading decentralized oracle network aiming to bridge the gap between traditional capital markets and the web3 industry. With unique security measures, cross-chain interoperability, and a swift transaction finality time, Supra allows Sui’s decentralized applications (dApps) to access real-world data on-chain efficiently.

Supra Oracle is built for seamless integration with various blockchains, enabling cross-chain interoperability and supporting Solidity/EVM-based and Move-based networks.

For more updates on Supra Oracle, check out their Twitter page.

14. Notifi: A new era for communication 

Notifi is an innovative Web3 protocol designed to revolutionize how projects communicate and interact on a global scale. It serves as a comprehensive communication backbone for Web3 developers, offering advanced features and a robust infrastructure to support projects of all sizes.

This protocol empowers personalized interactions between developers and users, facilitating seamless, engaging, and prioritized notifications. Notifi is simple to integrate, thanks to its user-friendly APIs, allowing developers to jumpstart their projects without the need to build from the ground up.

For more updates on Notifi, check out their Twitter page.

15. All That Node: A Comprehensive Network-as-a-Service Solution

All That Node is a comprehensive Network-as-a-Service (NaaS) solution that provides both public and private Remote Procedure Call (RPC) nodes for over 25 carefully selected networks. It enables users to run a network of secure, multi-chain nodes across multiple leading blockchain protocols, enhancing the flexibility and reach of blockchain applications.

For more updates on All That Node, check out their Twitter page.

The dynamic Sui blockchain fosters a range of inventive projects, such as OmniBTC’s decentralized cross-chain swaps and Magic Egg’s NFT gaming experiences. These varied projects underline the vast potential of the Sui ecosystem. Each project listed embodies a unique solution to specific challenges or prospects in the blockchain domain. Despite their differences, they all aim to harness blockchain’s potential in fostering secure, streamlined, and inclusive digital economies.

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Unlock the potential of real estate and events with Web3 technology. NFTs, virtual showrooms, digital experiences, and more.

The global web3 community has been the fastest-growing community in the world for the past 3 years. 

Companies entering the web3 environment, especially startups, encounter an overwhelming number of factors that will determine their success in the market. One of the most important among these factors is the target audience. Understanding who you are selling your product or service to is essential in every industry, but especially in one as young and dynamic as web3. Not knowing the audience is a mistake many startups make, and they usually don’t succeed because of it.

We’ve spent considerable time and effort testing strategies and researching the demographic composition of the web3 community in the past few years. In this blog, we want to highlight some of the most important trends of the global web3 community from Q3 and Q4 of 2022.

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The data shows that although men are currently twice as likely as women to be aware of web3, the fastest-growing segments of the web3 community are women and Gen Z.

Regarding the generational divide, Millennials get the lead in adopting web3, while Boomers haven’t necessarily warmed up to the idea of this new technology yet, and possibly never will in large percent.

However, with the Gen Z segment of the community growing the fastest, and with 10% not accounted for, it is safe to assume that Gen Z will soon be leading the adoption of web3 if it isn’t already.

• 40% of the web3 community are Millennials (born between 1981 – 1996)
• 30% of the web3 community are Gen Z (born between 1997 – 2012)
• 15% of the web3 community are Gen X (born between 1965 – 1980)
• 5% of the web3 community are Baby Boomers (born between 1946 – 1964)

Web3 community branches off into different smaller segments such as NFT, DAO, protocol, DeFi, and more. It is important to research how different segments of the web3 industry correlate to the demographic composition of the users. We’ve selected several interesting statistics that highlight the state of certain web3 community segments:

• 23% of US Millennials own NFTs
• 50% of DeFi users are Millennials 
• 70% of DeFi & NFT users are male
• 19% of US Gen Z owns an NFT

As for geography, we see an uneven distribution throughout the continents. Almost half of the web3 users reside in North America, while Africa and Australia have the lowest population of web3 adopters.

• 40% of the global web3 community lives in North America
• 30% of the global web3 community lives in Europe
• 25% of the global web3 community lives in Asia
• 5% of the global web3 community lives in Africa and Australia

Web3 community also differs in terms of their education level, work status, and field.

According to our research:

• 2 out of 3 users of web3 are highly educated.
• 4 out of 10 users of web3 work in the technology sector.
• 1 in 5 web3 community members are entrepreneurs or self-employed.

The distribution of the global web3 community is quite unbalanced, and this might play a major role in any endeavor you set out to achieve in this industry.

This is why some of this information might be crucial when planning your marketing efforts, your go-to-market strategy, user personas, product-market fit, and more.

You can book a free 30-minute call to discuss the correct approach to planning your marketing and web3 strategy.

You can also check our use cases on various topics, from web3 communities to AI, DAOs, and more here.

Sources: Bankless Times, Mint, Entrepreneur.

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Unlock the potential of real estate and events with Web3 technology. NFTs, virtual showrooms, digital experiences, and more.

Unlock the potential of real estate and events with Web3 technology. NFTs, virtual showrooms, digital experiences, and more.

During a crypto bear market, the prices of different coins decline significantly from their recent highs and continuously trend downward with reduced trading volumes.

Since last November, the crypto market has lost more than $2 trillion in market cap, major platforms such as Terra crashed, and FTX & Alameda went bankrupt. However, as quoted by Albert Einstein “in the midst of every crisis lies great opportunity”

Luka Sučić, Partner at Meta Change Capital tells us more about these opportunities.

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As the Web3 ecosystem continues to evolve, the role of a CEO in a decentralized organization is becoming increasingly important. Technical expertise with strong leadership and community-building are just few things that would position you at the top of the game.

Hiam Hamed, RZLT CEO tells us more about the necessary skillset to become a successful chief executive officer in web3.

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RZLT team takes advantage of everything Paris has to offer

As we were getting ready for our trip to Paris, we slowly but surely realized the scale of the event and the amazing side events happening alongside it. We packed our bags, hopped on the flights and went to Paris. This is how it went.

On the first day, we went to the NFT Factory, a popular coworking/gallery space in the heart of Paris. There we were greeted by the event from Artblocks and Ledger, where we listened to some great talks by world-renowned generative artists such as Snowfro. Furthermore, the event highlighted some great artworks from artists such as Dmitri Cherniak.

On our second day in town, the official NFT Paris event started. As you’ve probably seen or heard, the lines to enter were virtually endless and we almost froze waiting to get in. It was worth the wait, though, as we really had a chance to witness and take part in many interesting activities and presentations. We also seized the opportunity to make new web3 friends, mingle, and expand our network.

Although we’ve all complained about it, it was nonetheless refreshing and encouraging to see such an overwhelming demand for web3 and NFT-related content and activities in the middle of this crypto winter.

The highlight of our day was the interview of our NFT and Metaverse Lead, 

Josip Vlah ,with the Nouns OTG team.

After the main event, we moved to a CryptoPunk gathering, which was absolutely mesmerizing. Unfortunately, we’d had a few drinks by that point and did not remember to take any photos.

We ended the day with the Pudgy Penguins x DeGods Party, where we had the pleasure of meeting some interesting people and seeing the man himself (Frank — Founder of DeGods).

On the second (and last) day of NFT Paris, we had several business meetings to attend in the morning, and in the afternoon, we went to a few booths around the conference and reconvened as a team at an amazing small restaurant in the center of Paris.

After the dinner, we went to the NFT Paris closing party, which truly exceeded our expectations with some great music and fun people in one place.

When it comes to the brands, companies, and individuals we met during our time in Paris, a lot of our focus was put into finding projects and tooling solutions for onboarding new web3 users. With that in mind, we had a lot of great conversations that touched on the points and possibilities of:

• Loyalty Based Programs
• Physical/Digital Ownerships (Blockchain-Based)
• Employee Reward Programs
• Ticketing & Certification Solutions

The ideas mentioned above were also key topics discussed at NFT Paris. Of course, there were others, such as digital fashion; however, as we dive deeper into conversations with brands and solution providers, these are the ones that stood out the most.

To elaborate, loyalty-based programs were a huge topic, especially when considering Starbucks’ activations in recent months.

Some great conversations revolved around the topic of “How can we as builders, companies, and service providers, towards the end-customers, create tooling and infrastructure systems which would allow ease of implementation of loyalty programs for multiple use cases.”

When mentioning Loyalty programs there were also some great conversations created around employee-based reward programs, especially through the applications such as POAP.

Furthermore, the phenomenon of physical and digital was discussed. This is where we touched upon the points of tokenization of physical and the development of digital certificates tied with the physical assets, be that in the art world, real estate, or other.

Last but not least, during one of the business meetings, we touched upon the points of pains and gains of the ticketing systems and the ability to improve them over time with blockchain technology.

To conclude, we had a great time and met/reconnected with some very knowledgeable and influential people in the industry. We’re definitely looking forward to more events of this type in 2023.

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Diego Borgo is a Metaverse and NFT advisor leading Fortune 500 brands to enter the space. He has worked with brands like Adidas, Salesforce, Porsche AG, Shell and many others. In our conversation we touched many subjects relevant to the web3 industry, and we asked Diego to explore some of them in his own terms for our audience.

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With Nouns DAO and Exclusible as Case Studies

As advances and augmentations in the internet and other high-end technology continue to happen daily, the next logical step in its evolution looks to be a global interoperable virtual community or an amalgam of many different communities, wherein users can communicate, transact, play games, work, trade, create opportunities, network, and enjoy many other types of interactive digital experiences.

This evolution is called the Metaverse.

It is a constantly evolving entity, limited only by our imaginations. Although it has no clear definition yet, for a project to be classified as a Metaverse some key pillars need to exist. The first and most important pillar comes from the web3 arsenal and has now become the cornerstone of any modern conception of the Metaverse — the NFT.

NFTs serve as building blocks of many aspects a Metaverse offers its users. Beginning with decentralized proof of ownership over digital and physical assets present both inside the Metaverse, and out, and all the way down to mechanisms of funding Metaverse projects as well as individual projects inside Metaverses. Let’s explore the importance of NFTs in real-life Metaverse examples.

The Nouns DAO Metaverse

With the help of RZLT’s NFT & Metaverse team lead Josip Vlah, we were able to get an in-depth understanding of the Nouns ecosystem — where he is an active contributor.

Basically, Nouns DAO is a group of people who share the same beliefs regarding a fully decentralized ecosystem owned by the community that offers — through the platform’s forkability — anyone a chance to work on the project and easily spin their own project out of it. The NounsDAO model is a simple one: NFTs serve as governance tokens in the DAO, only one NFT is sold every day and the money that is used to purchase the NFT goes into the treasury.

The origin story of the Nouns DAO starts with NFTs. Established with the capital raised through Nouns NFT sales, we now see the interconnected system where users can build through Nouns whatever they desire. So essentially, the Nouns DAO mechanism that allows for these forks and unrestrained development is what makes it a Metaverse.

Here’s why:

• Everything is decentralized and on-chain.
• Anybody can fork the project for free.
• Enables an endless number of creators from all over the world to build upon it.
• It connects both the physical and virtual worlds.
• Everyone involved is part of the system and builds upon it

According to Josip, “literally anybody anywhere can build anything on the Nouns DAO system with the Nouns Builder and other similar tools without fear of copyright issues. Nouns Builder is a tool that allows any DAO to form and govern completely on-chain, in the format of a Nouns DAO. I believe the core principle of the Metaverse is being able to constantly create, share the same values with the creators, and not be platform or technology-dependent. This way, you’re creating a virtual space of common interest. Hence, a community.”

 

Although Nouns DAO isn’t fully focussing on the virtual space or multichain interoperability just yet, it has underlying values that will be crucial when they decide to head in that direction.

A Metaverse needs to have a shared value within its user base around which the community is built. Unlike Sandbox and Decentraland, where the NFTs are currently only virtual land parcels and in-game assets, in Nouns DAO, NFTs are the foundation of the ecosystem, from the artworks to the auctions. NFTs grow liquidity for daily operations on the system, and daily operations build further upon the shared idea, and additionally, each auction is a generative NFT created from your artwork layers.

The Exclusible Metaverse

On the opposite end of the spectrum is Exclusible. They focus on the more visual, high-end side of the Metaverse.

Exclusible is an NFT marketplace focused solely on luxury items. With luxury brands trying to key into the NFT market, Exclusible is creating an exclusive marketplace for these brands to bring their products and services to the NFT ecosystem. On Exclusible, you can buy, sell, and negotiate luxury digital products, and NFTs minted by luxury brands can also be resold on Exclusible’s secondary market.

Exclusible aims to gain the advantage by being the first NFT marketplace solely dedicated to luxury brands, as well as providing luxury brands with new ways of connecting with their clients or users in the Exclusible Metaverse, powered by the Spatial platform.

Similar to the general Metaverse ideals, Exclusible is creating a community that connects luxury brands with buyers of luxury goods in their own ecosystem. They will be there to help these luxury brands develop, design, list, and sell their minted NFTs. Exclusible’s portfolio is filled with notable brands such as Hogans, Asprey Bugatti, Alpine x Obvious, Stage 11, and several others.

RZLT’s NFT & Metaverse team has purchased and designed a virtual penthouse where we can meet, organize events, display ours and our friends’ and partners’ NFTs, and just enjoy the virtual Miami high-top vibes. Check it out below and build one for yourself or your team. Stay tuned for events organized at RZLT penthouse.

 

Significance of NFTs for the Metaverse

Here’s three key impacts NFTs have in the Metaverse

Firstly, with NFTs being a unique, programmable record of assets, they will operate concurrently with the Metaverse and provide massive participation powered by the creative work of millions of people.

Merging NFTs with games has seen major success for creators and gamers alike. The fact that this art and other types of user-generated content have actual functionality is the first step toward building the Metaverse and not just a game.

NFTs provide a way to monetize assets for the further creation of the Metaverse. This is the case with both NounsDAO and Exclusible as their NFTs help to fund the creation of new content. For a more commercial platform like Decentraland and Sandbox, NFTs can also be used to create income streams for businesses in the virtual world.

To sum it up

The union between NFTs and the Metaverse will not only proliferate mass participation but will also give users their individuality and the opportunity to exist independently in the Metaverse. And much like in Ready Player One, players’ NFTs, avatars, and assets will allow them to uniquely stand out even more than they do in the physical world. NFTs and the Metaverse will work synchronously to build the limitless digital future of our dreams.

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