🍬 Time to shill

GM and welcome to SOL Sweet. Grab a coffee, add some sweetener, and let's see what happened on the sweetest blockchain this week:

• Solana's $100M shill

• NFT whales

• Extra sweets

• Tweet of the week

In a sweet 2 minutes and 59 seconds 🍬

Solana's $100M shill

Shilling.

It's a common word in crypto.

It means you tell any and everybody about a coin or project you've bought into. Not even grandma is off limits!

Some people shill NFTs (*cough* influencers *cough*)

Some people shill their newsletter 🙋‍♂️

And some shill their blockchain.

That's what Solana is doing in South Korea after raising a $100M investment fund for web3 start ups in the region.

The fund is earmarked for gaming, GameFi, NFT, and DeFi projects.

The death of Terra has seen a lot of dev talent hit the free agent market in Korea. And it looks like Solana is planning to capitalize on that talent.

With interest in web3 gaming on the rise, continuing to attract those builders will be important for Solana's growth.

This fund is a big statement.

NFT Whales

If you're into Solana NFTs, you will probably be a Magic Eden user.

But did you know they copied us and have a weekly newsletter too?

Just kidding.

This week, their writer Ann (@spicycilipadi) broke down NFT whales. And it blew my mind!

A whale is defined as the top 2% of wallets by trading volume.

Ann talked to @HGESOL who is a whale.

HGE's strategy is to diversify and conquer by buying most collections on the top market cap.

"It's like betting on all horses in a race. If any hose wins, I win."

Neigh!

Some stats that stood out:

• The top 1000 users on ME do 21% of the transactions

• At current floor prices, whales hodl 8.4M SOL of NFTs

• Top collections held by whales are Okay Bears, Trippin' Ape Tribe, and Portals

Crazy.

If there's one take away, Ann says it's conviction. DYOR and double down on your high conviction plays.

After all, it's called high conviction for a reason 😉

Nice one Ann!

Extra sweets

Solana devs have fixed the bug that caused the network to crash again last week.

Chainlink price feeds are now available on Solana.

Wobblebug has introduced a new stake to reveal method for revealing their NFTs after minting.

Last week we broke down StepN's crash on the back of the China ban. Now the wounded move-to-earn company has introduced anti-cheating. They've also dropped an action plan for how they will address some of the most common concerns from their community.

Solana has now done more than $2 billion worth of NFT sales.

Tweet of the week

This is a great deep dive on some reasons to be bullish on Solana:

Alright, that's it for another week. There's always something happening on Solana. What are you keeping tabs on? Hit reply and let us know.

And please take 10 seconds to forward this to a friend who should be keeping up with Solana. It's as easy as one, two, three, and it helps us massively. Thanks!

- Toby (@TenderKiwi)