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Web3 Weekly #14

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Winter is really coming, as December is right here. But what about the “Crypto winter”? What’s the NFT weather out there? Is it good enough to take a walk around the Web3 of the week? It always is. So follow us on some good and maybe not that good weather news of Web3 and NFTs. 

Market updates and conditions

BTC 

Bitcoin’s price reached 17,000 USD on Morning of December 2. This is a little bit higher than a week ago when the price of BTC was 16,593.20 USD in the morning of November 26. 

Source

ETH 

Ethereum was 1,280 USD on Friday morning, so we can say that it’s been more or less the same for several weeks. 

Source.

AR

The price of Arweave is also similar to last Friday, when it was 9.28 USD. This week, the AR is 9.33 USD. 

Source

Web3 weekly

Web3 Antivirus Is a New Browser Extension for Secure Crypto Experience

Free new browser extension or plug-in for Google Chrome is launching and it will make your crypto journey easier than ever before, claims U.Today. Web3 Antivirus (W3A) is a new-gen project focused on a better and safer experience for Web3 newbies and professionals alike. Web3 Antivirus (W3A) is an open-source Chrome extension that guards users against signing dangerous transactions as well as dealing with phishing sites or suspicious assets. 

Nasdaq Digital Assets To Be Launched in 2023

Adena Friedman, chief executive officer of Nasdaq Inc., that is the world’s first electronic exchange, has shared some of her prognoses on 2023. She expects a quiet first half of 2023 for initial public offerings as investors remain cautious, but is hopeful activity will pick up in the second half of the year. 

Friedman also said she anticipates Nasdaq’s cryptocurrency custody business, Nasdaq Digital Assets, which it announced in September, to launch in the first half of 2023, pending regulatory approval. Nasdaq has been involved in the cryptocurrency space for several years, providing trading and surveillance technology to digital asset exchanges, and Friedman said the space needs to be more highly regulated in order to gain traction with institutional investors.

Web3 DAO Game7 Launches 100 Million Grant Program 

Game7, a Web3 gaming-focused decentralised autonomous organisation (DAO), launched a $100 million grant program on Monday to help accelerate blockchain-enabled games. Game7 is a Web3 gaming DAO supported by BitDAO and Forte. The grants will be awarded to Web3 game projects over five years and they will be distributed to Web3 projects across technology, events, diversity, education, and research.

Read more here and here

Fleek Raises $25 Million By Polychain Capital

Web3 developer platform Fleek has raised $25 million in Series A funding led by Polychain Capital, TechCrunch informs. The startup is aiming to build an interface and protocol layer to make the base layer of Web3 services accessible to anyone. As Fleek co-founder Harrison Hines says, their main focus is the content delivery market. 

What You Need To Know About Legislation When Building Web3

Decrypt has published a thoughtful piece on legal details you should pay attention to before launching your brand new and innovative blockchain project. As blockchain and fintech attorney Lisa Rubin explained at the recent 0xpo Crossroads conference in San Francisco, too hasty Web3 creation can come back to haunt any project that doesn’t seek legal guidance before launching into the wild. Some legal issues could threaten the aims or functionality of the project. Read more on Decrypt

Similar issue was mentioned in this article on Arab News on the music industry in Web3. As said in the article:

While legitimate actionable laws, rules and regulations have not been set around NFT and Web3 usage globally, there are few ways outside of the platform by which musicians can secure their rights. (..) e.g. to create their innovations in the physical world and file for registration, patents and copyrights, making sure to have physical documentation.

Does Web3 Storage Really Need Cryptocurrencies? 

If you want to read some criticism on the way Web3 storage or dStorage (decentralised storage) is being established, here’s some conversation piece. What are the features and limitations of Web3 storage that could be improved by… “ditching the cryptocurrency” as the author suggests? 

MiamiWeb3 Summit Kicked Off Despite Any “Crypto Winter” 

Speaking of winter, PRNewsWire published a release on MiamiWeb3 Summit, the highly anticipated event that is co-organised by the City of Miami, CTH Group and Atlas, describing it under the title “Winter Never Comes to Miami”. It kicked off to be packed with Web3 leaders, policymakers, and investors to discuss how to go beyond crypto to shape the future of Web3. With more than 1,000 attendees, MiamiWeb3 has made its mark as one the largest institutionally focused Web3 events, regardless of the “Crypto Winter.” 

As written in the article, attendance for MiamiWeb3 was overflowing, highlighting that institutional interest in Web3 and crypto transcends current market conditions and that Web3 is here to stay. Let’s hope so! 

NFT news

Porsche Will Launch Its First NFT Collection In January 2023

During Art Basel in Miami, Porsche shall be launching its first collection NFTs, which is an additional element of their digitalisation strategy, as said on Entrepreneur. NFTNow writes that the first Web3 project Porsche has planned is a 7,500-piece NFT collection based on the classic Porsche 911. The NFTs are scheduled to be released in January 2023, and Hamburg designer and 3D artist Patrick Vogel will create each piece. The proud purchasers of the Porsche NFTs will be able to help shape the design of their individual NFTs, as well as getting exclusive access to experiences in the virtual and real world. Très chic! 

Coinbase Accuses Apple In Forcing To Remove NFT Transfers From The IOS Wallet

Another week, another surprising news from Apple. This time it is claimed by Coinbase that Apple has blocked their last app release until they disabled the feature because the iPhone maker wanted the blockchain fees associated with an NFT transfer to go through its in-app purchase system, giving it a 30 percent cut. 

Rug Radio Collaborates with Cory Van Lew in Project “Faces of Web3” 

As NFTnow describes it, Rug Radio is “a prominent voice of Web3 culture” and it prides itself on being the first fully decentralised media platform. Its founder Farokh Sarmad announced that  Rug Radio would soon receive a major ecosystem expansion by way of PFPs – the generative avatar project “Faces of web3” in collaboration with the prominent multidisciplinary artist Cory Van Lew. See how bright and colorful the forthcoming PFP collection is going to be!  

Magic Eden Expands Support for Polygon-Based NFTs

The leading Solana NFT marketplace platform Magic Eden will welcome a new community of Web3 gaming developers and publishers on the Polygon network, Coindesk informed. Cross-chain NFT marketplace Magic Eden will now support Polygon-based non-fungible tokens (NFT), embracing a new ecosystem of creators and developers, the company said Tuesday.

Magic Eden, which currently supports Solana and Ethereum-based NFTs, will usher in gaming communities by integrating collectibles minted on the layer 2 blockchain network. The chain is supported by Web3 gaming publishers such as Atari, Decentraland, The Sandbox and more.

In other news, Magic Eden has also released a tool allowing creators to enforce royalties on their collections, following OpenSea with the NFT royalty enforcement tool. Magic Eden launched Open Creator Protocol – an open source, free, feature-rich tool built on Solana’s managed-token standard in the SPL library, as they informed on Twitter. 

DeFi Giant Uniswap Launches Its Own NFT Marketplace 

Five months after acquiring NFT trading aggregator Genie and its founder Scott Gray, Uniswap is launching an NFT aggregator on its website, Decrypt informs. Uniswap is promising the best prices on NFTs and lower gas fees. As a part of the launch, Uniswap will be offering limited gas rebates to its first 22,000 aggregator users on their first transaction. It also announced the long-awaited airdrop for past Genie users – early Genie adopters will also be eligible to receive part of a $5 million USDC airdrop for “certain historical Genie users” via Uniswap’s official site to celebrate the launch.

Crypto Firm Genesis Warns About Possible Bankruptcy Filing

 

Some not so sunny news for the crypto firm Genesis Global Capital. It warned last week about a possible bankruptcy filing, and now some of its creditors are pursuing options in order to prevent such a move. According to Bloomberg, law firms Proskauer Rose and Kirkland & Ellis are said to be involved in discussions with creditors, as the company is trying to avoid a bankruptcy protection filing. 

Genesis is one of the companies truly impacted by the downfall of FTX as well as a broader downturn in the crypto market that began earlier this year.

NFT Collector Gmoney Drops His CryptoPunk’s Mask 

Some boulevard press news of the NFT community here! Well, this is not gossip, this is official – iconic NFT collector Gmoney revealed his identity, thus keeping his real name in secret for security reasons. But at least – you can see now how the founder of 9dcc looks! 

The space needs strong and visible leaders, now more than ever, said Gmoney upon his reveal. 


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