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The Cutting Edge by NGMI Lab Issue #3

More research, more knowledge, more insights!

Author

NGMI Lab
February 10, 2023

Dear subscribers,

We hope you're having a fantastic week! We've got some great updates for you this week including:

Supra Oracles Logo

We've just released our latest report on Supra Oracles, and it's a must-read for anyone interested in a project that’s had some major investors. This project has secured over $19 million across 7 rounds of raises. How did they do it? What’s so special about them? In our report we look into these very details so our members are up-to-date on this project ahead of their TGE.

We are proud to announce the completion of our community requested report on RMRK! RMRK is developing a set of modular tools to support NFTs 2.0, providing a customizable and buildable solution for various NFT projects. The project's goal is to bring extensibility to NFTs, making them even more versatile and useful. Can RMRK make a big impact in the NFT world? Read our report to learn more about the potential of this project by clicking the link below:

In addition to our report on Supra Oracles, we've also put together an article to help you understand the world of oracles and explore the role they play in the blockchain space. The article provides an overview of the subject and is a great starting point for anyone looking to learn more about the different players in the space and each of the challenges they aim to tackle!

We’re starting a section in our newsletter highlighting different NFT collections to help our readers get a feel for the different communities thriving in web3. It’s super hard to keep up with everything going on so let us do the hard work and report back to you the latest insights and innovations coming from exciting web3 communities!

Team NGMI Lab

Spotlight on RUG RADIO

WHAT & WHO

Rug Radio is a decentralised media platform that aims to provide a new way of consuming and creating media. The project is led by Farokh, a well-known figure in the web3 space, and Loxley, a serial tech entrepreneur, who recently joined as co-CEO.

MEMBERSHIP

One unique aspect of Rug Radio is its membership pass system, which gives members a share in the platform. It also served mint pass when Rug Radio’s genesis mint happened. Membership pass holders were allowed to mint 1 rug NFT for every pass held. These genesis Rug NFTs generate $RUG tokens daily, the amount of which is dependent on their scarcity. The $RUG tokens are an ecosystem utility token and can also be exchanged for $RDAO tokens at a rate of 1800 $RUG for every 1 $RDAO.

DAO

$RDAO tokens are slowly released over time to ensure decentralisation. The DAO is how the community holds long-term ownership in the ecosystem and it will become more decentralised as more people join. The invested 1,000 ETH into the RugDAO from primary sales and 70% of secondary sales profits. The total max supply of $RDAO will be 170,000 $RDAO Tokens.

COMMUNITY

The platform has gained popularity and currently has a large discord community of almost 40,000 members. Rug Radio is known for its positive community atmosphere and regular twitter spaces which have regular and high attendance numbers. They are currently in the middle of their pfp mint by LA based artist, Cory Van Lew.

In the spirit of web3, Rug Radio is experimenting with the concept of how to create true decentralised ownership for a media platform and DAO. We are curiously watching how this community will grow and develop over the coming years.

If you know a community would fit well in our spotlight section email [email protected] or reach out to us on discord.

We hope you've enjoyed this edition of our newsletter. As always, we appreciate your support and feedback. If there's anything you'd like us to cover in future newsletters, don't hesitate to let us know!

Until next time!

The NGMI Lab Team