“Breaking Barriers and Forging Ahead: Asva Labs Q1 2023 Progress Report”.

12 min readMar 31

Hey, folks! Let’s take a break from the mundane quarterly reviews and switch things up a bit, shall we? Before we dive into the nitty-gritty, let’s start with what’s on everyone’s mind — the crypto market!

The past three months have been a dynamic and exciting time for the crypto industry, with significant developments and trends shaping the landscape. One of the biggest stories of Q1 2023 has been the continued growth and adoption of emerging verticals of Web3. Bitcoin has also seen significant gains in Q1 2023. Despite a volatile start to the year, Bitcoin has surged by 70% since the beginning of 2023 and is on track to achieve its largest quarterly gain since 2021, which was the year it reached its all-time high.

Another notable trend in Q1 2023 has been the rise of non-fungible tokens (NFTs). From digital art to virtual real estate, NFTs have become a popular way for creators to monetise their work and for collectors to invest in unique digital assets. Also, this quarter saw the debut of BTC Ordinals, the protocol has allowed for the inclusion of files in each satoshi, leading to increased popularity and bringing new users to the blockchain. The protocol has also revitalized the NFT market, with Yuga Labs releasing its own NFT collection using Ordinals, resulting in increased sales of Ethereum-based NFT collections.

The Crypto market also saw other releases, Nokia’s new logo release and plans to incorporate metaverse-related technology, Membrance Finance’s release of the first fully regulated euro-based stablecoin called EUROe, and the released of Aave’s own dollar-based stablecoin called GHO. These new stablecoins have been welcomed by investors as the stablecoin market is currently dominated by only three major dollar-based stablecoins.

However, Q1 2023 hasn’t been without its challenges for the crypto market. There were massive layoffs by crypto companies, such as Genesis Global Capital and Silvergate Capital, which later went bankrupt. Also, the Finnish LocalBitcoins marketplace also announced bankruptcy in February.

Now, let’s turn our attention back to where the real magic happens — Asva Labs!

While the cryptocurrency market has seen significant growth and development in Q1 2023, Asva Labs was no exception, we’re proud to be at the forefront of this cutting-edge movement. We’ve seen tremendous progress in Q1 2023, with our team exploring the latest trends, pushing boundaries, and developing products that will shape the future of tech.

We’ve been working hard to stay ahead of the curve in emerging tech, particularly in the areas of blockchain, Metaverse, and artificial intelligence (AI). Our upcoming projects, MetaAge Studio and Asvarium, have already garnered significant interest. But we’re not just focused on our own growth and success. Asva Labs is committed to fostering adoption and creating an impact in our communities.

As we reflect on our progress in Q1 2023, we’re more excited than ever about the possibilities and opportunities that lie ahead. Before jumping into the details of our Q1, we would like to thank you for joining us on this journey of innovation and growth.

Ecosystem Overview

As the Asva Labs ecosystem continues to evolve, we believe it’s crucial to keep our community informed about the latest developments. In this post, we will be sharing updates including new releases, partnerships, and other noteworthy announcements.

If you’re wondering what’s happening with the Asvaverse, let’s take a quick tour starting with Asva Labs’

Asva Labs

Asva Labs Rebranding

We at Asva Labs are excited to announce that we will be undergoing a rebranding soon. After careful consideration and planning, we have decided to update our brand to better reflect our evolving ecosystem and our commitment to providing products in the Web3 space.

This rebranding will include a new logo, visual identity, and messaging that better aligns with our vision and values as a company. We want to ensure that our brand represents our mission of making Web3 accessible to everyone and creating a decentralized future.

While we can’t share too many details just yet, we can promise that this rebranding will be a major transformation for Asva Labs. We look forward to sharing more updates on our rebranding in the coming weeks and months. Stay tuned for more exciting news from Asva Labs!

Asva Labs 🤝Mises Browser

Asva Labs has partnered with Mises, the world’s first fast, secure, and extension-supported mobile Web3 browser to allow users to access Asva Labs’ products such as Asvarium and MetaLaunch on mobile devices through MisesBrowser. We believe that this partnership is a significant step towards expanding the reach of our ecosystem and bringing more people. Asva Labs aims to increase accessibility to the world of Web3, and we are thrilled to work with Mises towards this shared goal.

Asva Ventures

Asva Ventures is excited to share our latest update for Q1 of 2023. We have several new initiatives in the pipeline that will continue to advance our mission of investing in and supporting innovative Web3 projects.

New Venture Funds

One of the most significant updates is our plan to raise a $25M venture fund focused on Infrastructure (L1, L2, ZKP), Generative AI, immersive technologies, and the consumer layer. We are also in the process of raising a $1.5M angel fund, which will be used to expand Asva Ventures’ operations, launch the AV Venture Fund 1, establish a web3 accelerator, and develop the ecosystem.

Founders Demo Day

Asva Ventures will be hosting Founders Demo Day sessions where selected startups will have the opportunity to pitch their projects to investors and receive feedback from industry experts. This initiative aims to bridge the gap between founders and investors and provide startups with valuable resources to help them succeed.

Web3 Camp Launch

We will be launching the Asva Ventures Web3 Camp to provide a comprehensive program for founders to learn more about the Web3 ecosystem. This program will cover topics such as fundraising, marketing, and community building. We believe that this program will be instrumental in the success of the startups we invest in.

Mentors On Board

We are thrilled to welcome experienced mentors on board to help guide our startups through their entrepreneurial journey. Our mentors have extensive knowledge and experience in various industries and will provide valuable insights and advice to our portfolio companies.

Partnerships Expanding

Asva Ventures will be expanding its partnerships with various blockchain foundations and service providers. We believe that collaborating with these organizations will help us create a more robust Web3 ecosystem.

The first cohort for Selective 25 Startups

We will be selecting the first cohort of 25 startups to receive funding from Asva Ventures. Our team will be working closely with these startups to ensure they have access to all the resources they need to succeed.

Web3 Meet-ups Across Cities

We will be organizing Web3 meet-ups across various cities to bring together the Web3 community and provide a platform for networking and collaboration.

Grants Program Launch

Asva Ventures will be launching a grants program by partnering with various blockchain foundations and service providers. This program aims to provide funding to projects that align with Asva Ventures’ mission of advancing the Web3 ecosystem.

AV Accelerator House in Bengaluru

Finally, we are excited to announce the opening of our AV accelerator house in Bengaluru. This space will provide a collaborative environment for startups to work and connect with industry experts and mentors.

We are excited about these upcoming initiatives and look forward to supporting the growth and development of the Web3 ecosystem.

The Wait is Over, it’s time to talk about our Priemer Launchpad, MetaLaunch!

MetaLaunch

MetaLaunch AI Upgrade

MetaLaunch is committed to supporting and promoting budding builders working on emerging technology-based ventures, and our foray into AI represents a significant milestone in these efforts. AI has become one of the most transformative technologies of our time, with the potential to revolutionize industries and change the way we live and work. By supporting AI-based projects, MetaLaunch is opening up new opportunities for investors to participate in the growth and development of this exciting field. Stay tuned for more updates on this exciting development!

Metalaunch Platform Update

We have also made several updates to the MetaLaunch platform to improve its functionality and user experience. One of the major updates is the updation of our website to reflect our upgraded vision and mission.

ASVA Staking V2

This quarter also witnessed the launch of ASVA Staking V2, which comes with newly added pools. With this update, users can now earn staking rewards by staking ASVA tokens in various pools, including a liquidity pool. We are proud to share that over 3.5 million ASVA tokens have already been staked in the pools, demonstrating the community’s enthusiasm for our staking program.

Love NFTs? Then you’ll definitely love updates about our NFT platform, Asvarium

Asvarium

Asvarium Beta Testing

We recently announced the launch of Asvarium Beta V1 Testing, which received an enthusiastic response from our community. We are thrilled to see the interest and engagement in our platform. During the testing phase, we received valuable feedback and bug reports from our users, and we are working diligently to address these concerns and improve our platform. We appreciate the time and effort our community has put into testing Asvarium, and we look forward to incorporating their feedback into future versions of our product.

https://twitter.com/asvarium/status/1610978746571591684?s=20

Partnerships

Asvarium has been forging partnerships to take the NFT industry to the next level.

Trikon 🤝 Asvarium

We’ve joined hands with Trikon, the community-driven gaming platform! Together, we’re breaking new ground with play-to-experience games that offer real-world utility in the gaming world. Plus, Trikon’s sustainable and simplified solutions are perfectly aligned with our community-centric approach.

Lunatic Games 🤝 Asvarium

Asvarium is proud to announce our partnership with Lunatic Games Studios! Lunatic Games Studios presents a groundbreaking play-to-experience RPG Horror Adventure Game, the first of its kind. The game utilizes a multi-chain ecosystem to merge luxury brands with the gaming experience, creating real-world utility within the gaming world. Together, we’re revolutionizing the gaming industry with our community-centric, multichain NFT platform. Exciting things ahead!

Exarta Metaverse 🤝 Asvarium

The new member in the Asvarium partner ecosystem is EXARTA METAVERSE, a revolutionary way to experience and interact with the Metaverse. More information about this partnership will be announced soon.

Phew….😅 It’s time to talk about YOU, you guess it right it’s time to talk about our community and marketing updates!

In Q1 2022, Asva Labs actively engaged with its community through various events and initiatives. Here are some highlights:

Community and Marketing:

Asvarium Beta Testing: Asva Labs conducted beta testing for its Asvarium platform and actively sought feedback from participants to improve the platform.

AMA Sessions

In the first quarter of 2023, Asva Labs participated in several Ask Me Anything (AMA) sessions as guests. These sessions were hosted by different organizations and community groups and allowed us to share insights and knowledge about the Asva Ecosystem and the wider Web3 ecosystem.

Asvarium AMA with Lunatic Games

Asvarium was thrilled to participate in an exclusive AMA session hosted by Lunatic Games. Our very own Payal_techlife and RadicalBuzz were special guests on the panel, and they shared valuable insights on how Asvarium is kicking off the year 2023. The event took place on March 9, and we were thrilled to engage with our community members and answer their questions about our platform.

MetaLaunch AMA with Mises X Parrot X OceanPark X MetaLaunch X Single finance

Asvarium participated in an exciting AMA session with other #Web3 innovators on March 24. The event was hosted by Mises, and joined by representatives from Metalaunch, GOPartyparrot, MetaOceanPark, and Single finance. This was a great opportunity for the MetaLaunch team to share insights on our platform and discuss the latest trends in the crypto market with other industry leaders.

Crypto Winter Series

On January 20, 2023, we held the sixth episode of our Crypto Winter Series AMA and the first AMA of 2023, where we discussed the importance of smart contract security audits with speakers from the Quill Audits team.

The recorded session is available for those who miss it. Don’t forget to tune in: https://twitter.com/i/spaces/1gqxvydWXnWJB?s=20

Events

Asva Labs had a busy Q1 with its leadership team participating in various community events and initiatives. Here are some of the highlights:

Web3 Summit 2023

Asva Labs’ Chief Product Officer, Sumit Gupta, was a speaker at the Metaverse Stage during the Web3 Summit 2023 held in Bangalore. He shared his insights on the future of the Metaverse, and attendees had the opportunity to learn more about Asva Labs and its innovative solutions.

ETH Dubai
Asva Labs’ CEO and Founder, Mallikarjuna Naidu, attended ETH Dubai where he had the opportunity to connect with a diverse group of individuals from the Web3 community. During the event, Naidu shared more about Asva Labs and Asva Ventures and explored potential collaborations with fellow innovators in the space.

World Blockchain Summit

Asva Labs’ CEO, Mallikarjuna Naidu, attended an event hosted by Crypto Oasis UAE, which featured a fireside chat with the founder of Dfinity, Dominic Williams. Naidu also had the opportunity to meet the team from Crypto Oasis, DX Blockchain, and GLR Alf and explore potential collaborations with Asva Labs, and Asva Ventures.

MetaLaunch New Read Series

In the first quarter, MetaLaunch expanded its New Read Series with multiple blog posts covering diverse topics within the crypto industry. The series received positive feedback from the community, and we are thrilled to have provided valuable insights to our readers.

MetaLaunch: Setting the Gold Standard as a Web3 Launchpad: Asva Labs published an informative article on Medium about MetaLaunch, its Web3 launchpad platform, and how it is setting the gold standard in the industry.
MetaLaunch: Empowering the Next Generation of AI Projects: Asva Labs published an article on Medium about how MetaLaunch is empowering AI projects and helping them achieve success.

Overall, Asva Labs remained actively engaged with its community and continued to promote education and innovation in the Web3 and crypto space.

Development Updates:

Asva Labs is constantly working on enhancing its products and services to provide the best possible experience to its users. Here are some of the latest updates on our products — Asvarium and Metalaunch.

Asvarium:

Closed Community Testing of INO platform: We have completed closed community testing of our Initial NFT Offering (INO) platform. The feedback received during the testing phase has been incredibly helpful, and we are now working on addressing the issues and improving the user experience further.
Testing of the INO platform by industry influencers: We have also reached out to industry influencers for testing our INO product, and we are looking forward to their feedback.
Integration of Shardeum Sphinx into INO is in progress: We are currently integrating Shardeum Sphinx into our INO product to offer our users a seamless experience.

MetaLaunch:

Better UX and Staking integration under the MetaLaunch app: We are constantly working on improving the user experience of our Metalaunch product. We are now integrating staking into our app, which will enable our users to earn rewards for staking their tokens. Additionally, we are also working on improving the overall design and functionality of the app to provide a seamless experience to our users.

CONCLUSION

As we move into the upcoming quarter, we’re excited to continue building on our progress and momentum from Q1. Our focus will remain on pushing the boundaries of emerging technologies, such as blockchain, Metaverse, and AI while creating products that will bridge Masses to the Web3 space.

Asva Labs has exciting plans for the upcoming months, including a major rebranding effort that will reflect our vision. Our team has been working hard to update our brand identity, messaging, and visual elements to better align with our evolving ecosystem and values as a company. We look forward to sharing more details about this exciting transformation in the coming weeks.

In addition to our rebranding, we have several other projects in the works that we’re excited to share with our community. These include the launch of Asvarium, a New cohort of Web3 AI projects on our Priemer Launchpad, MetaLaunch. We’re also continuing to expand Asva Ecosystem, by forging new partnerships and incorporating valuable feedback from our community to improve its functionality and user experience.

Overall, we’re thrilled with the progress we’ve made in Q1 2023 and are confident that the upcoming quarter will be even more exciting. We want to thank our community for their support and look forward to sharing more updates with you soon.

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