Welcome back to The Root Network Overview. We’re creating the best content for the AI and metaverse ecosystems to get up to speed on the latest updates, metrics, developments, insights and more on The Root Network and Futureverse.
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The ecosystem insights
$ROOT price: $0.0087 (-20.91%)
The Root Network holders: 822.26K (+0.74%)
The Root Network total transfers: 2.78M (+3.35%)
Total EVM transactions: 417.3K (+0.48%)
Total staked: 401.72M (+2.93%)
The percentages and metrics are calculated from its change over a 14-day time frame, unless noted otherwise.
Highlight of the The Root Network
💫What’s happening: TRN Labs announced its $1 million grants program for developers to submit their projects is live.
💫Why it matters: TRN Labs, a group established separate from The Root Network, aims to provide better resources and foster stronger collaboration with community engagement.
Its newly released grant program was designed to reward developers and projects building on The Root Network, regardless of company size. There are two tracks that are a part of the broader initiative that hope to entice ambitious and aspiring creators.
The $1 million grant pool is split into two categories: up to $200,000 dedicated to small-to-mid-size gaming projects and up to $1 million for gaming studios that are looking to build the next AAA game.
Grant programs are traditionally meant to encourage developers to build publicly, earn community support and test and ship projects to get rewarded.
A barrier of entry or endpoint for many developers or startups is lack of funds. In particular for gaming startups, they can be very expensive to build, especially for ones that integrate blockchain technology.
TRN Labs looks to alleviate that financial burden and relieve stress for teams, so they can focus on technical updates or development.
💫 The bigger picture: While some ecosystems don’t offer grants, they can play a crucial role in improving community infrastructure. By supporting its ecosystem with funding, TRN Labs could help set up its network’s builders for success and attract new ones.
The program can also foster community engagement, as developers are incentivized to build publicly, garner support and showcase The Root Network’s infrastructure that can house the next AAA game. Thus creating an even bigger flywheel effect for the ecosystem’s expansion.
Built on Root
Lum3n shared the release of its self-service, no code platform with the goal to make launching an NFT collection easier
Futureverse total unique NFT holders hit 43,160 according to onchain data
Sylo released a post about how it plans to become a robust data layer for the open metaverse via its token and social content platform, among other features
Aigent.run deployed Discord and Telegram support for users looking to launch their own AI agent and tokens
FLUF World NFT sales volume hit 4.7 ETH on March 29, its highest recorded day of the month (shown below)
Source: OpenSea
Want to catch up? Check out the monthly Futureverse updates here.
Driven by community
Highlighting the companies, communities and users tied to The Root Network.
Listen to Futureverse CEO and Co-Founder Aaron McDonald talk about his team’s goal to onboard 15M users in the coming months
Futureverse Chief Product Officer Ben Jordan spoke about onchain data and integrating it into an open metaverse environment
Magnetic X partnered with aigent.run to release a farming pool for its token
AIXRP announced it will distribute a portion of its token holdings to community members that create content on X focused on the XRPL ecosystem
Jen shared the first edition of its In The Studio Series to showcase how producers are using its AI-driven platform to create music
THINK released episode 7 of its ThinkPod podcast, featuring its head of strategy discussing self-custody for AI solutions in businesses
Get involved in the future
Want to dive into the ecosystem full-time? Find the latest job postings here or get involved at an event below.
The Root Network launched its loyalty program, RootRewards, to reward project builders in the ecosystem
Join the waitlist for ALTERED STATE, an AI generative tool creates 3D objects that can be used as in-game materials
Check out Readyverse, an open metaverse gaming platform by Futureverse - available on Epic Games.
OPEN, a multi-IP metaverse gaming experience from Futureverse, is coming to Epic Games
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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.