🏀 NBA’s Cleveland Cavaliers launch fan engagement program on Avalanche
Avalanche Weekly Overview - October 30, 2024
Welcome to the Avalanche Weekly Overview. A one-stop-shop for the AVAX community to get up to speed on the Avalanche blockchain network’s latest updates, metrics, releases, insights, ecosystem developments and more. All in one place.
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Avalanche by the numbers
AVAX token price: $26.12 (-5.02%)
Max transactions per second: 435 (-28.1%)
Network’s total transactions: 20.82M (+72.92%)
Avalanche C-Chain daily txns: 198.3K (+4.09%)
DeFiLlama’s Avalanche TVL: $1.55B (+43.52%)
Top 3 Avalanche DeFi projects by TVL:
BENQI: $578.91M (-6.63%)
Aave: $379.33M (-4.21%)
LFJ: $114.14M (-7.74%)
These metrics are based on a 7-day time frame, unless noted otherwise.
Inside the network
🔺What we’re watching: The National Basketball Association’s Cleveland Cavaliers launched Cavs Rewards, a fan engagement program on the Avalanche network.
🔺Why it matters: Uptop, a fan rewards platform, partnered with the Cavaliers to create its fan engagement program. This program aims to elevate the fan experience by giving users the ability to earn points through purchases and redeem them for exclusive experiences and rewards. In addition, the program also plans to offer fans opportunities to engage with the professional basketball team’s players.
As part of the program, Cavs Rewards plans to partner with local businesses in hopes of strengthening ties within the broader Cleveland community. This can provide fans and business owners a platform to engage with their communities in a variety of ways, while gaining exposure to NFTs.
“The program is an innovative way to reward fans’ loyalty and bring them closer to the team,” said Cavaliers’ Executive Vice President and Chief Marketing Officer Chris Kaiser in a blog post.
Uptop co-founder John Timoney also highlighted that the program can enhance fan loyalty and offer partners access to insights on consumer spending. This could potentially drive additional growth through direct engagement with the Cavaliers fan base.
In general, building a strong community is a core value for web3 ecosystems. An engagement program provides fans easy access to loyalty benefits, while also giving the Cavaliers valuable privacy-protected insights into fan preferences.
🔺The bigger picture: The growing adoption of web3 technology by sports and entertainment sectors can be seen as a shift toward immersive, fan-centered engagement models.
The Cleveland Cavaliers hope to transform traditional loyalty programs into dynamic, interactive experiences by leveraging blockchain technology. The integration of rewards through Avalanche also provides a scalable model that could change how fan engagement is seen across various industries.
Initiatives like these showcase how web3 technology can reshape the way organizations connect with their communities by blending physical and digital engagement.
As blockchain-based fan engagement platforms expand, these technologies can power future entertainment and sports loyalty programs. The usage of onchain assets can provide utility, deepen connections, and encourage long-term community building.
Scaling the ecosystem
Top 3 Avalanche games by 7-day total txns:
Gunzilla Testnet: 21.32M (-3.78%)
Pulsar: 10.33M (+10.37%)
Defi Kingdoms: 4.24M (+9.51%)
Relive Avalanche Summit LATAM in this thread on X
Avalanche monthly transactions increased 57% month-over-month, according to onchain data
Dexalot TVL hit an all-time high of $29.5M, DefiLlama data shows
Off The Grid hit 100M total transactions and 9M wallet addresses (shown below)
Active L1s: 43
L1 validators: 286
Total L1 validators: 1,562
Total blockchains created in the Avalanche network: 108
Total staked across Subnets: 576,278 AVAX
Distribution of L1s by category. Source: Snowpeer
AVAX community wins
Check out this live stream of Avalanche community members playing Off The Grid and Forgotten Playland
The Arena launched UI/UX updates to its socialFi app, X user ceciliavlso created a thread diving into them
X user yellowpantherx created a post showcasing a variety of games build on Avalanche
Avalanche Archives
Here’s Avalanche-based articles that made headlines this week.
Talking Tokens rolled out a lot of content during Avalanche Summit:
AVAX Breakthroughs: Avalanche9000, Off The Grid & Institutional Adoption
Building Prediction Markets In Web3 Accelerators
Exclusive with Emin Gün Sirer | Avalanche9000 and the Future of Blockchain (DeFi Podcast)
How to choose the right Web3 wallet for you — and why Core might be the answer (Core Blog)
Avalanche Foundation Review 2020-2024 (Report)
Check out the Avalanche blog for more updates.
Join in the fun
Want to dive deeper into Avalanche?
The next Avalanche Summit is taking place in London from May 20-22 - check out the details here
Participate in Bounty9000’s newest campaign and build an AI agent that interacts onchain
Chainlink is beginning its Blockchain Beginner Bootcamp program, powered by Avalanche, on Nov. 15 - learn more here
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.