Blockchain Project Stacks summarizes progress in June 2022
The crypto industry is advancing rapidly, which means that it is constantly evolving and changing. As a result, projects that aim to survive and remain relevant must do the same, and it is important for them to be transparent about it and to notify their communities about all the work that is being done.
The crypto project Stacks understands this, and that is why it publishes monthly summaries, which summarize the work done during the previous month. Stacks is a layer-1 blockchain solution designed to bring dApps and smart contracts to the Bitcoin network and try to give new uses to BTC without changing any of the features that make it so powerful in the first place.
📆 @Okcoin ➡️ @Stabler Summary 📆
🚀 Discussing support for Bitcoin Odyssey
🚀 Rely on machines that raise $ 150 million for web3 on #Bitcoin
Fi GameFi, NFTs and metaverse projects continue to flourish at StacksRead @PeacockgFull summary on @Okcoinsin bloggside 👇https: //t.co/jNj0r5yDWV
– stacks.btc (@stabler) July 8, 2022
Stacks June 2022 summary
According to the project’s announcement, there have been several developments and notable incidents concerning the project in the last month. The first of these is the fact that OkCoin released the Bitcoin Odyssey Fund, a $ 165 million fund dedicated to supporting and developing dApps on Stacks and Bitcoin.
After that, the project noted that Muneeb Ali, the new CEO of Trust Machines and co-founder of Blockstack, and professor at Princeton University, JP Singh, teamed up to raise $ 150 million for Trust Machines. The idea is to use the funds for the expansion of Bitcoin through Stacks, as a Web3 platform.
Another great thing for Stacks is the fact that the project hosted Web3 Week, for all creators, artists, musicians and others, in early June. During the event, Neal Stephenson, the man who was credited with creating the very word “metaverse”, joined Stack’s metaverse, which is a great honor for the project.
The project then reminded users that it also hosted Demo Days on June 15 and 16, with the Cohort 2 teams working to build the future of Stacks on Bitcoin. There were a total of 24 teams working on various projects that involved a number of aspects of the modern blockchain, from DeFi and NFTs, DAOs and games, to Web3, real estate, climate, health, music, social technology and much more. This was a rather exciting event for the project, with many different teams showing different applications of blockchain technology.
Finally, the project noted that an NFT platform built on Stacks, known as STXNFT.com, decided to transform into Gamma.io. According to the project’s announcement, the idea behind Gamma is that it will be a platform that will be a hub for the world’s social Web3 identity, centered around non-fungible tokens. Gamma wants to serve as a home for creators, collectors, but also investors, and be a platform where they can all come together to trade, explore, showcase extraordinary NFTs that will exist throughout the Bitcoin ecosystem and more.
In other words, Stacks has had an eventful June 2022, with a lot of positive development for the project, and a lot of money raised to drive further development, which also promises that the project will also have a busy and eventful July. .
To learn more visit our Investment in Stacks guide.
