Nomad, Context, Papyrus | Hidden Gems – Web 3
Review Date: April 19th, 2022
We scored over 50 projects this week, and these are the 3 we think you should know about:
- Nomad
- Context
- Papyrus
Please keep in mind that some of these projects have not yet been subjected to our code review process, but we want to call them out here for preliminarily catching our eye based on our fundamental analysis process.
Nomad (82%)
Website – Documentation
Nomad aims to be the ultimate multi-chain solution for all blockchains by cutting operating(gas) costs by up to 90% in comparison to industry standards. Nomad will form the base layer of a cross-chain communication network that provides fast, cheap communication for all smart contract chains and rollups.
Why we like it:
Patterned after optimistic systems, Nomad aims to provide cheap multi-chain communication which is both resilient and secure by creating a network of “replica” chains to enable cross-chain communication. Nomad is accomplishing this by creating a network of authenticated data structures on a home chain and relaying updates to that data structure on any number of replicas. Using Nomad, developers can securely build cross-chain applications (or xApps) and bridge assets between chains. Nomad channels and the flagship xApp, the Nomad token bridge, are live on Ethereum and Moonbeam, with more chains coming soon.
Investors:
$22 million raised from Polychain Capital, 1kx, Circle, Figment, Dialectic Capital, and Hyphersphere Ventures. Nomad is also partnered with Moonbeam, Evmos, Neon Labs, and Connext.
Team:
Nomad’s founding team has been working on interoperability for over 4 years now, they provided technology to Keep Network’s tBTC and Near’s Aurora EVM.
Token Utility:
TBA
Where can you buy the token?:
TBA
Context (78%)
Website – Documentation
Context allows NFT traders and collectors to watch on-chain activity in other people’s crypto wallets to provide the most alpha to users by identifying trending NFT projects. One rich feature Context is also providing is the ability to connect to Twitter to keep track of a successful trader’s wallet.
Why we like it:
Context is combining a social and trading aspect to collecting NFTs by giving traders a platform where they can track and collect their favorite NFTs by leveraging on-chain data and existing social media platforms like Twitter.
Investors:
$20 million raised from Variant and DragonFly Capital
The Team:
Currently run by 1 person, Luke Miles, who has educational experience and support from Y Combinator as well as Software Engineering experience from Unicorn company Stripe.
Token Utility:
TBA
Where can you buy the token?:
TBA
Papyrus (76%)
Website – Documentation
Aiming to overcome existing solutions like Medium and Substack by storm, Papyrus is the ultimate web 3.0 publishing and newsletter creation platform. Unlike their competition which provides web2.0 solutions to web3.0 projects, Papyrus hopes to become the go-to platform for the next generation of high tech.
Why we like it:
Papyrus is a blazingly fast, privacy-first, no-frills attached blogging and newsletter platform, some distinct use-cases it provides to communities are token-gated publications as well as the ability to send posts directly to a reader’s wallet address all while keeping complete ownership of their data.
Investors:
Seed TBA, current investors include Binance and FTX
The Team:
Currently a 1-person team, found Colin Armstrong has solid experience from traditional companies like Google and Coinbase. Papyrus was built behind the scenes as the founder worked at Google.
Token Utility:
TBA
Where can you buy the token?:
TBA
