Overview

Piers Ridyard, CEO - Radix DLT

Never a dull moment in crypto as NFTs (non-fungible tokens) have their break-through moment and the foremost NFT artist, Beeple, is thrust into the mainstream spotlight with the sale of his largest pieces to date going for $69m (of course it did) at Christies auction.

Beeple, Everydays – The First 5000 Days NFT, 21,069 pixels x 21,069 pixels (316,939,910 bytes). Image courtesy the artist and Christie's.

While that figure is incredible on it’s own, it is being dwarfed by the volume of secondary sales on the Top Shots NFT platform that has been built by Dapper Labs on the Flow blockchain, with an incredible $322m of NFTs sold to date; dwarfing everything else in the Ethereum ecosystem.

NFTs have always been an interesting, hard-to-categorise function for blockchains - at Radix we see the next generation of these NFTs moving on to an even more interesting sub category of properties: haecceity*, or less pretentiously “thisness”

Oh THIS Beeple? This was a Beeple previously owned by Elon Musk; look you can see he owned it between 2021 and 2025.

As humans, we love narrative, we love story. So we already do this a lot. Sometimes we refer to this as “sentimental value”. When we get to the stage that we understand how not only to create uniqueness in number, but turn the uniqueness of ownership history or significance into a property of the object as well that is surfaced to the user, the NFT revolution will start getting seriously crazy.

Good thing we are making it easy to build NFTs on Radix right?! That’s a story for another day though. For now, this report is all about betanet and the continued success of our community doing their awesome work.

*with many thanks to Matthew Hine for introducing this wonderful idea to me.

Strategy & Marketing

Adam Simmons Head of Strategy - Radix DLT

The last two weeks has been a whirlwind (that is sure to continue) of preparation for betanet. Validator proposals have been coming in fast, discussions on Telegram and Discord are accelerating, and we’re still seeing double digit percentage growth in key marketing metrics. So let’s dive straight into some of the highlights:

• In the last Radix report, we announced that we had opened up the betanet Validator Community Proposal Program. In the time since, we have seen an amazing response from the community and those interested in running nodes with just under 350 applications submitted. Keep an eye out for the public release of all the applications.
• Across the official social media channels (which can be found here), the combined follower count is now just under 30,000! The Radix twitter account has continued with strong growth, increasing over 10% in the last 28 days.
• In another social media milestone, in the last 28 days the Radix account has had over 1M tweet impressions. This has been driven by the recent betanet announcement, and also some high profile guests on the DeFi Download Podcast including CryptoBirb.
• On the topic of the DeFi Download Podcast, recent episodes have been added to the Radix YouTube channel with video of the show. The first video episode with CryptoBirb can be seen here.
• The Radix Telegram and Discord are continuing to grow, with the total member count now over 20.2k! Since the Betanet announcement, activity on the Discord server has increased 67% compared to previous weeks. What is especially exciting as it now means the server is eligible to apply for the Discord partner program - with continued support from the community and active discussions, we hope to be approved quickly.
• Radix Founder, Dan Hughes, has been doing some streams on Twitch showing off his coding on the Cassandra research platform. Make sure to follow his Twitch channel and keep an eye on his twitter.
• Uniswap liquidity has continued to grow for eXRD, now at over $26m total. Token holders have also increased to over 6900, an increase of over 1500 in the last two weeks!

Development

Russell Harvey, CTO & Matthew Hine, Head of Product - Radix DLT

The theme of our most recently completed sprint was “focus on betanet priorities” – making sure that we have in place the most important things for us to have ready for testing of both wallet and node.

A few points of interest taken from the team’s resolved items list:

• Lots of optimization work, touching everything from how atoms are composed, encoded, and stored to improvements in batching transactions for consensus.
• Implemented the HD (hierarchical deterministic) wallet specification for the Radix desktop wallet which will allow for more streamlined secure recovery of multiple accounts with a single mnemonic.
• Defined operational readiness standards for our own infrastructure that will be running our explorer.
• Set up Prometheus node-exporter to run in validator nodes so we can pull system metrics.

Media/Community

Another busy 2 weeks have passed, and things are progressing as planned on the media and community front. Here are some cliff notes and highlights:

• Radix media presence keeps increasing steadily since we kicked off our activities in early January. Radix was mentioned in 48 international media articles in February, a very solid media presence. 56% of these articles were English, 20% Chinese, 8% Japanese, 8% Spanish and the rest from Korea, Portugal and Russia. 2 weeks into March we already have 34 media articles with a strong Asian presence (strongest are 63% Japanese, 26% Chinese, 17% English). This reflects some of the Asian activities during the month of March. More to come!
• And it’s not just quantity, with 3 articles in Cointelegraph in March alone we have hit a new record for Radix! An article written by Piers was published: ‘Decentralized finance may be the future, but education is still lacking’, the same article was translated in the Spanish section of CoinTelegraph and an in-depth interview with Piers was published in the Chinese version of the site. We have the globe covered!
• AMAs: AMAs (Ask me Anything chats in Telegram or WeChat groups) are one of the most effective ways of reaching new audiences in the crypto sector. So far 3 AMAs have been done in March already, 2 in China and 1 in the English Crypto Society group, led by Borg Brain, one of the great Radix supporters and a great follow on Twitter for fans of fundamental insights in the crypto sector. 4 more Chinese and 1 Korean AMA are scheduled with the leading crypto communities in those respective countries throughout March! Piers is doing an excellent job answering all of the communities’ questions, expect more AMAs being announced in the next weeks
• Turkey: The Turkish community is as active as always and members numbers have increased by 80% in March alone! Things are progressing nicely with 2100 very engaged members. We are even hearing voices that predict the Turkish community will soon overtake the main Telegram group in member numbers! One thing is clear, Turkey is one of the key markets in terms of crypto adoption and Radix is establishing a strong footprint.
• Korea kickoff: We are kicking off marketing activities in Korea in March with an AMA on March 23 in the most active Korean group Pantera, in exciting times you will see thousands of messages every few minutes in this group. Absolute insanity. Stay tuned for more updates about Radix in Korea!
• Digital marketing activities around Radix Swarm are generating excellent engagement with 16k and 32k actions completed by the participants of the 2 campaigns we did so far in March. Prizes of over $1000 have been awarded to the winners!
• Let’s finish off with another record: The last Radix Report tweet thread generated over 250k views, high score!