{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Scoop","title":"Solana-linked startup survives $14.5 million FTX ‘punch in the gut’ to get to beta","html":"","width":"100%","height":180,"duration":1722,"description":"Web3 development team Coral raised $20 million in a round co-led by FTX Ventures just weeks before the exchange's collapse. Coral developers hunkered down and continued building.\nIn this episode, Coral co-founder Armani Ferrante tells the story of how the fallout from FTX forced Coral into \"cockroach mode\"' and how the startup has managed to stay afloat despite being forced to cut costs.\nBackpack & xNFTs\nCoral's first product, Backpack, is a web3 wallet that lets users store and access xNFTs — a new standard developed for tokenizing code and controlling its execution. In practice, Armani says Backpack and xNFTs give users direct access to a \"secure, heavily curated app store.\"\nUnlike popular browser extensions such as Metamask which interact with web3 platforms by connecting to each website individually, Backpack is designed so that users never have to leave the curated web3 experiences that live directly within the wallet.\nDuring this episode, Chaparro and Ferrante also discuss:\n\nThe Donald Trump, Starbucks, and Nike NFT collections\n\nWhy NFT projects depend on community\n\nHow Coral's Backpack product supports 'xNFTs'\n\n\nThis episode is brought to you by our sponsors Circle and CleanSpark.\nAbout Circle\nCircle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit circle.com/Scoop to learn more.\nAbout CleanSpark\nCleanSpark (NASDAQ: CLSK) is America’s Bitcoin Miner™. Visit cleanspark.com/theblock to learn more about the CleanSpark way.","thumbnail_url":"https://img.transistorcdn.com/kC6kzNjgr18dm0FmBfV_f9xccAkjj-QXoCJmVNlNtrU/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8xZmIz/N2E5MmRmMzJjOTU3/OTNhYjJkYzcxZTlj/MTU2Yi5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}