Web3 in China - Increase Sales

Nayuki (奈雪的茶) is known as a tea and bakery chain in China with over 700 physical stores. The brand leveraged #NFTs on @Conflux_Network to increase their gross-merchandise-value (GMV) by ¥200 million RMB (~$32 MM) in 72hours.

This is how 🧵⤵️ 

1️⃣ On their 6th anniversary, Nayuki announced that their brand will enter the metaverse with their virtual brand ambassador and IP: NAYUKI

They partnered with cocafe.co to sell 300 NFTs blind boxes of NAYUKI issued on @Conflux_network.

1.1 The 300 NFT blind boxes randomly included 1 of 7 different designs of NAYUKI at ¥59 (~ $5) per NFT

The 300 NFTs were sold out in under 2 minutes, leaving millions of fans in a #NGMI mentality!

WAIT! NFT sales only account for less than 0.001% of the claimed ¥200 MM GMV 🤔


1.2 With 99.99% of GMV left and millions of #NGMI customers, Nakuyi had the brilliant follow-up to satisfy and make everyone a   #WAGMI customer!

They did NOT ❌ achieve it through: Discord spamming, WL grinding, Meme contests, or other 'traditional' Web3-NFT paths!

2️⃣ Nayuki's brilliance 🤯 was to sell physical and 'collectible' gift cards with images of their new idol: NAYUKI.

#NGMI customers became #WAGMI customers and made the company happy, as they sold roughly ¥200 MM worth of them in less than 72 hours via different sales channels.

2.1 To put it into perspective: 

The total amount of NAYUKI-idol gift cards sold in these 72 hours was equivalent to their traditional sales combined of all 700 running physical stores in one week combined!

3️⃣But Nayuki did not stop there as a tea, bakery, and now metaverse company; they also entered a new market vertical selling high-end collectible toy figures by launching a limited series of 1,000 NAYUKI figures at ¥699 (~ $100) a piece.

4️⃣ It's interesting to see how Nayuki used #NFTs as their bait to catch the bigger fish with almost record-breaking sale volumes in China.

It also shows how fast traditional companies can adapt and leverage Web3 technology to boost their existing business.

4.1 The now-revealed 300 NAYUKI NFTs that led to the discussed ¥200 MM GMV boost can be found on ConfluxScan:

https://www.confluxscan.io/token/cfx:achvvn0yd024nv7muzp3vu3txhrcp2246e138fnysw

What awaits them in the announced NAYUKI-metaverse? We don't know yet, but something is brewing!

4.2 TL:DR:

1) Nayuki sold 300 NFTs of their metaverse idol NAYUKI to create #FOMO
2) Customers that did not buy an NFT bought physical gift cards with NAYUKI printed on them because of #FOMO (¥𝟐𝟎𝟎 𝐌𝐌 𝐆𝐌𝐕)
3) Nayuki entered the market of collectible toy figures through

5️⃣ Follow me @BambaLados for upcoming tweets with concrete examples of how NFTs have been leveraged by companies and teams in China on @Conflux_Network

Also, if you haven't, check out my first tweet on whether Web3 exists in China ⤵️

http://twitter.com/BambaLados/status/1557760602247860224?s=20

Web3 in China - Increase Sales by ¥200 Million in 72 hours | Nayuki

Web3 in China - Increase Community Engagement

Bosie, a genderless fashion brand in China, wanted to increase its online community engagement on one of its main social media channels: @WeChatApp!

How did they increase it with #NFTs?

Find out in🧵⤵️

1️⃣ With a goal in mind, Bosie had:

1) A beloved brand IP: Bosie Goose
2) A hip, young, artsy, and digital native audience
3) Experimental idea to leverage #NFTs as an experimental activity

to increase their community engagement 📈

Bosie website: http://www.hellobosie.com/en/public/

1.1 Bosie partnered with #TaopaiNFT platform (淘派数字藏品交易平台) to gift 198 NFTs of their brand-IP: Bosie Goose 

Each NFT consists of the head or body of 1 Bosie Goose, with a total of 99 unique geese on @Conflux_Network.

Why split 99 unique Bosie Goose into 198 NFTs 🤔?

1.2 To send the community on a match-making hunt for their NFT's significant other (SO) body part within their many communities on WeChat. 

All community channels reached new engagement ATHs, as finding the one's match was like looking for a needle📌 in a haystack🌾

1.3 Besides completing the Bosie Goose for fun, the first 20 successful matchmakers could also claim a Stuffed Bosie Goose Toy worth 198 CNY (~$30), a well sought-after and discontinued product.

2️⃣ The activity ended, and their goal of increasing their community engagement was a success!

It showed that Bosie is not only creative and cares about its community, but the brand also adapts new technology to explore and be experimental, like their customers!

2.1 Long after the experiment ended (Jan. 2022), Chinese fashion blogs and magazines are still showcasing and reporting how Bosie send its community on a match-making hunt using #NFTs!

2.2 Community & influencers question whether the NFT will eventually have additional benefits, whether Bosie will follow up with new NFT collections, or whether Bosie will create their own genderless metaverse with Bosie's influence in the local market.

It's just the beginning!

2.3 Bosie's NFT holders will always own their NFT on @Conflux_Network (unlike on other "regulated private blockchains in China"), and the smart contract, token IDs, and holders can be publicly found on ConfluxScan:

https://www.confluxscan.io/token/cfx:accvuj004k127vd4cprcfju1wzw4pm5bj6u1gkvtds

3️⃣ Follow me for upcoming tweets with concrete examples of how NFTs have been leveraged by companies and teams in China on @Conflux_Network

Also, if you haven't, check out my first tweet on whether Web3 exists in China ⤵️ 

https://twitter.com/BambaLados/status/1557760602247860224?s=20

You can read the unrolled version of this thread here: https://typefully.com/BambaLados/Bb7oMQo

Web3 in China - Increase Community Engagement

Web3 in China - Does it exist?

Many western Web3 friends have asked me: 

"Does Web3 still exist in China? After all the FUD that happened?"

And the answer is: "Yes, and it's gaining traction! You might call it Web2.5, but it's ready for 1.4 Billion people!" 

🧵⤵️

One important aspect of Web3 in China is this rule:

NFTs are allowed, but cryptocurrencies are not 

You might think that it's not possible because public blockchains require the native token ($ETH , $MATIC) for gas-fee and private blockchains are useless!

You're right!

1️⃣ Then, how to send NFTs on a permissionless network without cryptocurrencies?

The answer is: Transaction Sponsorship

@Conflux_Network has implemented this feature into the protocol from day 1, so the user does not need to have its native token $CFX in their wallet for a trx!

1.1 Anyone can top up any smart contract on @Conflux_Network to become a sponsor.

This topped-up amount will be deducted from the contract to compensate the network for user interactions.

Now the user can send NFTs without touching cryptocurrencies!

https://link.medium.com/hUd0Xb4Rosb

1.2 $CFX is a cryptocurrency and! a CFS (Collateral For Storage) that is sold in China similar to how AWS sells its storage.

When a local entity purchases CFS, it is directly used to top up a smart contracts. Regulated.

Technical details on CFS: https://developer.confluxnetwork.org/introduction/en/conflux_storage/

2️⃣ With the #NFT-boom on Ethereum with @BoredApeYC or @AzukiOfficial, a local pfp-market was established in China. 

It was crazy, from literal .jpegs to persmissioned-NFTs on @AlibabaGroup or @TencentGlobal's services. The #pfps were traded like crazy via fiat on Web2.

2.1 Since 2019, an ecosystem on @Conflux_Network was developing with builders that understood .jpeg and private blockchains ain't #Web3. 

In 2022, more people realized that @Conflux_Network NFTs can be actually owned by people in a non-custodial wallet; legally and in China.

2.2 For purchasing and selling NFTs, @Conflux_Network has developed a fully compliant mechanism called:

Fiat-to-NFT

+1 billion users can now purchase NFTs with a click on a mobile device via existing payment solutions from @Alipay and @WeChatApp.

No learning curve needed!

2.3 Devs can use existing infrastructure tools from the ecosystem to create dApps that cater to the habits Web2 users are familiar with via mobile or mini-apps.

Users access Web3 to participate in governance, access the metaverse, or trade the NFTs they #OWN!

2.4 Companies like @McDonalds, @Oreo, @Unilever,@CCTV or @CCTV have all minted NFTs on @Conflux_Network for marketing, sales increase, technology adoption, community engagement, or to enter their metaverse.

https://forkast.news/headlines/mcdonalds-china-launches-first-nft-to-commemorate-31-years-mainland-market/

2.5 Heck, even the #Shanghai Jing'An Police Bureau partnered with a famous Chinese dairy brand Yili's subsidiary #Ambrosial Yogourt to airdrop NFTs and raise awareness of metaverse scams during the time of the Chinese pfp-boom.

3️⃣ With almost 24 million unique wallet addresses, 112 million transactions, and  more 4.6 million NFTs minted in the past year; there is still a lot of room for growth and innvation on @Conflux_Network.

You can find all the data here: https://www.confluxscan.io

3.1 In an interview with @radicleinsights, Co-Founder @forgivenever expresses reasons on why brands choose @Conflux_Network, how brands can implement NFT strategies, and what NFT applications can be expected in China.

https://medium.com/radicle/yuanjie-zhang-co-founder-of-conflux-network-on-why-every-brand-should-adopt-an-nft-strategy-655e227c40d0

3.2 China is not the first leader to think about regulating crypto. 

With recent events in Web3, industry leaders like #AndreCronje have expressed interest in regulations or the @USTreasury straight-up sanctioning code by @TornadoCash.

https://www.coindesk.com/tech/2022/04/19/defi-developer-andre-cronje-teases-new-regulation-focused-crypto-projects/


3.3 With toolings ready for Web3 mass-adopt without crypto, regulations for what can and cannot be done, a top-down approach to push Web3, and existing use-cases for NFTs, the simple answer is:

Yes, Web3 does exist in China!

3.4 Follow me for upcoming tweets with concrete examples of how NFTs have been leveraged by companies and teams in China to:

/ reinvent marketing strategies
/ increase community engagement
/ find new customers
/ increase sales 
/ fight against tech monopolies

You can read the unrolled version of this thread here: https://typefully.com/BambaLados/ES1hSov

Web3 in China - Does it exist?

5-Ten-2 | @NFTX_

1️⃣ Ever thought:

How to combine #NFTs with #DeFi 🤔? 

Is possible to stake your #NFT to farm 🚜 juicy #APR 😄? 

How dope it would be to just swap your #NF🤩? 

How is @scott_lew_is earning NFTs and not paying 👀? 

❌ more❓️-> 🧵⤵️
https://twitter.com/scott_lew_is/status/1508813898308329482?s=20&t=YpwisoOWG3_Rha6h7Eocug

2️⃣ There's a reason why blue-chip #NFT like @BoredApeYC @doodles @cryptopunksnfts @GoblinTown__NFT @sartoshi_nft @MeebitsNFTs are on @NFTX_ !

NFTX is tokenizing  ERC721 into ERC20, making them fungible -> more liquid, and bringing NFT holders more utility than ever before!

3️⃣ How to become liquid:

1) Create a vault on @NFTX_ for your NFT asset
2) Deposit NFT of choice into vault and mint a representative vToken
3) Use vToken and $ETH to create an LP on @SushiSwap 

NFT2DeFi: 101 🤯

Great explainer by @thedapplist⤵️
https://thedapplist.com/blog/insights/down-the-rabbit-hole-nftx-making-nfts-liquid/

4️⃣ Well, there are some implications:

All #NFT in a vault 🔒️ are equal as the minted vToken reflects a 1:1 claim of a random NFT in the vault. Rarity, traits are IRRELEVANT! Your vToken means that you own 1 NFT of the vault but not which one!

‼️ONLY USE YOUR FLOOR-PRICE NFT‼️

5️⃣ Now comes the fun stuff:

You can:

- stake vToken for APY
- become LP with vToken & ETH for higher APY
- swap between NFT collections or va_Token to vb_Token
- buy/sell multiple NFTs at once
- arbitrage if @opensea sells cheaper than on @NFTX_
- buy a friction of a NFT

6️⃣ There are 2 types of staking @NFTX_

1) Inventory Staking
2) Liquidity Staking

the difference:

1) you only stake your vToken (NFT only)
2) you need to provide liquidity on @SushiSwap with vToken & $ETH (NFT+ETH)

That's how @scott_lew_is gainz!

Yields of 2) > 1) see ⤵️

7️⃣ Some risks when using @NFTX_ 

1) Not able to reclaim your previous NFT
2) Impermanent loss
3) Smart contract risk

#DYOR & only stake floor-price NFTs that you're willing to exchange and & can afford to lose

📖 more by @NFTX_⤵️
https://academy.nftx.io/staking/staking-risks/

8️⃣ From a high level, NFTX is a value-boost for the whole NFT project and its community, as it:

- empowers a stable floor price
- creates passive monetization strategies for owners
- allows fractional NFT holders to participate in the governance

📖⤵️
https://academy.nftx.io/nft-projects/

9️⃣ Here are some on-chain metrics:

1) >$35 million worth of NFTs locked on @NFTX_
2) >18 thousand NFTs in vaults
3) >230 different NFT collections
4) >2.4k MAU
5) >$1 million worth of fees in the last 30 days

Check out the @DuneAnalytics site: 
https://dune.com/nftx/NFTX-Dune-Dashboard-Protocol-View

🔟 RN, @NFTX_ is the most unique platform that injects #NFTs with #DeFi 

/to enable new possibilities for NFT holders to earn while owning
/to bring more liquidity into a previously limited vertical
/to allow communities to grow and govern
/and more

Check out @NFTX_ to 🤿↘️🐇🕳️

NFTx: Infusing NFTs with DeFi Magic

5-Ten-1 | @opyn_ 

1️⃣ Saw @kimyg002's tweet on the Opyn's 🦀 strategy being profitable during the last two months and wanted to dive into @opyn_ to learn what it's about and how it was possible. 

Let's unroll the 🧵 ⤵️
 
https://twitter.com/kimyg002/status/1532979715895869440?s=20&t=2Q9lwNPOoX2voHy1EDpdxQ

2️⃣ On @opyn_'s website you see their title + one-liner and would prob. have an💡 abt. the protocol if you're familiar with derivatives & options. 

💥, you see #SQUEETH all over the place and might think: wtf? sheesh spelled wrong? 

🚫 #Squeesh stands for squared-eth - eth²

3️⃣ Squeeth is invented by the Opyn team and is the first Power Perpetual that gives traders perpetual exposure to eth², meaning that Squeeth makes options perpetual and is an effective hedge for UniLPs, and other protocol offerings.

🐇🕳️:
https://medium.com/opyn/squeeth-primer-a-guide-to-understanding-opyns-implementation-of-squeeth-a0f5e8b95684

4️⃣ Opyn users can choose from the platform's various Squeeths (use-cases: long, short, hedging...), but these are really not easy to comprehend for an average user like myself.

I recommend this article by @CoinDesk for a high-level overview:

https://www.coindesk.com/markets/2022/01/18/opyns-new-squeeth-raises-ether-trading-to-the-power-of-two/

5️⃣ We only want to dive into 1 Automated Squeeth Strategies (ASS) launched: 🦀-strategy that got @kimyg002 his gainz!

-> ASS are suited for different market conditions where users earn funding paid by the daily funding rate of Squeesh buyers)

🐇🕳️:
https://opyn.gitbook.io/squeeth/resources/squeeth-strategies-faq


6️⃣ Just like how 🦀 moves, this strategy works best in sideways markets (fluctuate within a price range for a longer time without trending one way or the other)

Simplified: When ETH's 1-day price moves in +/- direction is LESS than the strategy's set profit-threshold, you gainz!

7️⃣ No profit -> When ETH's 1-day price moves in +/- direction LARGER than the strategy's set profit-threshold.

Out of this world? There are risks, e.g. liquidation if the strategy's collat-ratio falls below 150%, but it's prevented by rebalances with large fluctuations & more.

8️⃣ When the market goes down 📉, the 🦀 accumulates ETH for you. 

When the market goes up 📈, the 🦀 sells ETH for you and accumulates $-value for you. 

Better explainer by @andrewjleone ⤵️

https://twitter.com/andrewjleone/status/1533145908673540096?s=20&t=fvql546IogqtCLETj3Di7A

9️⃣ 🦀 is the only deployed strategy, but new ones will come: 🐻 🐂

🦀 is super thought after with an always filled strategy cap of 888ETH in total. Maybe the team can increase the capacity, and/or an OG can make a Twitter account like @MIM_Replenishes for available capacity!

🔟 For CEX-users, this is might remind you of a Spot Grid Trading Bot, but the mechanics of @opyn_ are truly innovative, and joining the 🦀-strategy (when possible) is actually easier!

https://twitter.com/reegannotraygan/status/1532048911388532740?s=20&t=A5MbUC8nxlsjetCReMVmxA


Yes, this 🧵doesn't even scratch the tip of the iceberg of @opyn_ and what they're building, but I hope this 🔟🧵can give you a little taste of the 🦀-strat & some innovation built on #blockchain #technology.

Follow @opyn_, and check out their website & links to dive into 🐇🕳️

Opyn: 🦀-strategy

There are many @Conflux_Network & ecosystem-related events happening right now! 

You're still early to join all of them!

Like, RT, @ friends, and share these #alphas in the 🧵 👇 

1️⃣ @Binance Easter Egg Activity 

📅 04.12 - 04.18

- collaborative activity with @Conflux_Network @Algorand and @qtum 

https://www.binance.com/en/activity/collect-and-win/BN1720117274945970177

2️⃣ Conflux eSpace Super Week - Part 2

📅 04.12 - 04.16

this is the 2nd activity of @MultichainOrg to experience cross-chaining plus interact with @Turbo_starter and @SwappiDEX on eSpace.

https://twitter.com/MultichainOrg/status/1513850315363143681?s=20&t=7ESgDDgCE6rmRmlD59LqWg

3️⃣ @SwappiDEX Fair Launch

Swappi already surpassed $25M TVL, even without $PPI being launched!

You can blind-mine to get $PPI now. 

Once $PPI has a price, high platform APY will cause a massive inflow of assets, and getting $PPI will be harder.

#alpha!
https://twitter.com/SwappiDEX/status/1513893966025998337?s=20&t=E6szbE5XyiWJexHvtAEYvw

4️⃣ @IdleStoneage IDO on TurboStarter

the first IDO on @Turbo_Starter and on #eSpace will be the GameFi project @IdleStoneage 

Always #DYOR, this is not financial advice!

Here's more info:

https://twitter.com/Turbo_starter/status/1513462253701722113?s=20&t=RfAb_nnJDbJDppi4AbBWEg

5️⃣ AMA in @CelerNetwork community

📅 04.14 - https://t.me/celernetwork

@CelerNetwork cBridge has integrated Conflux #eSpace for the interoperability of assets! 

Join the AMA to learn more about how the collaboration eliminates liquidity fragmentation!

https://twitter.com/CelerNetwork/status/1513622925152239627?s=20&t=7ESgDDgCE6rmRmlD59LqWg

6️⃣ TurboStarter AMA in Telegram

📅 04.15

Tune in on t.me/Conflux_English to learn more about @Turbo_starter in the online AMA hosted by @Conflux_Network! 

Will they drop #alphas? Come find out!

https://twitter.com/Conflux_Network/status/1513931071267684359 

7️⃣  Experimental Twitter Faucet:

If you really really need some more CFX after you have already bridged assets into eSpace, there's this for a limited time:

https://twitter.com/BambaLados/status/1514170622674292739?s=20&t=VlQKPkfmVcZEpATIRJ5VkQ

8️⃣ Conflux Labs x @ChainIde - Developer Bootcamp

If you're a developer, feel free to join our latest developer boot camp! 

Everyone from all experience levels is welcome to join and start their journey into #Web3.

https://twitter.com/ChainIde/status/1506691999218380802

Feel free to add your comments below, if there's anything missing you'd like to be shared!

Like, RT, @ friends, and follow if you liked this!

Conflux Activities - CALweek 15

Cross-chaining into Conflux eSpace

@Conflux_Network EVM-compatible #eSpace is live, new projects like @SwappiDEX and @Turbo_starter are launching on eSpace and users need to cross-chain assets from other networks into eSpace! 

How? Here are 4 decentralized options in the 🧵👇

1️⃣ @mesonfi

- cross-chain swap solution allowing users to swap their stables between chains. Meson supports swaps of $USDC and $USDT between @Conflux_Network #eSpace, @BNBCHAIN, @avalancheavax, @EthereumNetw, @FantomFDN & @0xPolygon. #moretocome

🌐 www.meson.fi

2️⃣ cBridge by @CelerNetwork

cBridge enables cross-chain bridging between Ethereum and Conflux eSpace.

Celer’s reputable and battle-tested bridge supports: $USDT $USDC $WETH $DAI and $WBTC.

0-fees from @EthereumNetw to @Conflux_Network eSpace 🤑 

🌐 https://cbridge.celer.network/

3️⃣ @MultichainOrg

Multichain enables cross-chain swapping (routing) and bridging of assets.

Bridging is enabled for $USDT $USDC $WETH $DAI $ZB $KCS $WBTC between @EthereumNetw and @Conflux_Network eSpace.

Swapping is available for $MULTI and $bCFX.

🌐 https://multichain.org/

4️⃣ Confluxhub / @FluentWallet

If you already have CRC20 assets on your Conflux Core address, you can simple cross-space them to eSpace on https://confluxhub.io/cross-space or https://evm.fluentwallet.com/

Tutorial: https://medium.com/conflux-network/using-the-fluent-cross-space-bridge-to-transfer-crc-20-tokens-bdaee921f335

TL;DR - Conflux eSpace Cross-Chain List:

1 @mesonfi: $USDT $USDC

2 @CelerNetwork cBridge: $USDT $USDC $WETH $DAI $WBTC

3 @MultichainOrg: $USDT $USDC $ETH $DAI $WBTC $MULTI $bCFX

4 https://confluxhub.io/cross-space - CRC20 from Core to eSpace

#sharingiscaring

You can read the unrolled version of this thread here: https://typefully.com/BambaLados/UbBSPvu