Daily Web3 Headlines You Need To Know
07 November #NFT #Metaverse #DeFi&Trading #Policy&Law
🖼 NFT
OpenSea launches on-chain tool to enforce NFT royalties
Nonfungible (NFT) marketplace OpenSea appears to have taken a position in the NFT royalties debate — launching a new “on-chain” tool helping creators enforce royalties. The NFT marketplace, which according to CoinGecko, commands 66% of the market share in NFT marketplaces, has been relatively silent on the issue of royalties and enforcement, while others in the space have been implementing their own strategies over the last few months…(Read More)
🔗 Developers
Solana’s co-founder addresses the blockchain’s reliability at Breakpoint
Solana co-founder Anatoly Yakovenko says the past year has been mired by the network’s reliability issues and outages, but recent updates will help the blockchain resolve its reliability issues. Solana has suffered ten partial or full outages, according to its own status reporting, the most notable of which occurred between Jan. 6–12, 2022, with the network plagued with issues causing partial outages and degraded performance for between 8 and 18 hours. The most recent was what it called a “major outage,” lasting nearly six and a half hours on Oct. 1…(Read More)
Vitalik reveals a new phase in the Ethereum roadmap: The Scourge
Ethereum co-founder Vitalik Buterin has added a new stage to the Ethereum technical roadmap, one that aims to improve censorship resistance and decentralization of the Ethereum network. The Ethereum network’s new plans were revealed by Buterin in a Nov. 5 Twitter post — which introduced the Scourge in a now expanded six-part technical roadmap…(Read More)
🌖 Metaverse
Meta reportedly plans ‘large-scale layoffs,’ but what of its metaverse division?
Social media and tech giant Meta is reportedly gearing up for “large-scale layoffs” this week amid rising costs and a recent collapse of its share price. According to Wall Street Journal (WSJ) report on Nov. 6 citing people familiar with the matter, the planned layoffs could impact thousands of employees in a broad range of divisions across Meta’s 87,000-strong workforce…(Read More)
📈 DeFi / Trading
Bakkt Aims Fintech Expansion with a $200 Million Acquisition Deal
Bakkt Holdings (NYSE: BKKT), the cryptocurrency subsidiary of Intercontinental Exchange, is aiming to bolster its cryptocurrency and expand into other areas like fintech, trading app platforms and neo-banks with its decision to acquire Apex Crypto. Announced on Thursday, the crypto company has already signed a definitive agreement for the acquisition with Apex Fintech Solutions, which is the present owner of Apex Crypto…(Read More)
Robinhood Reports Loss of $175m in Q3 2022, Crypto Revenue Declines
Robinhood, a major US commission-free stock trading and investing app, reported a net loss of $175 million during the third quarter of 2022. Although the company’s transaction-based revenues increased slightly, the cryptocurrency sector generated a substantial decrease. According to the popular no-fee trading app’s quarterly report, total net revenues stood at $361 million, which is an increase of 14% compared to the previous quarter…(Read More)
Funding rates hit 6-month high before CPI — 5 things to know in Bitcoin this week
The largest cryptocurrency managed a weekly close just below $21,000 on Nov. 6 — an impressive multi-week high — but remains fixed in a sticky trading range. Despite seeing highs of nearly $21,500 over the past week, there has yet to be a catalyst capable of breaking the market status quo, but the coming week has as good a chance as any of doing so. Nov. 10 will see key United States inflation data for October released, while jobless claims and multiple speeches from Federal Reserve officials may also impact risk asset volatility…(Read More)
⚖️ Policy & Law
Navigating the Legal Territory of NFT: What to Look Out For?
According to blockchain analytics company Dune Analytics statistics, the market for Non-Fungible Tokens (NFTs) plummeted from its peak of $17 billion in early 2022 to $470 million in September 2022, which is a staggering decline of 97%. While the decrease in NFTs transaction volume may be partially attributed to dropping cryptocurrency prices, NFTs developers continue to create NFTs. In fact, creators are confident that the NFTs industry will recover…(Read More)
SBF has been a ‘significant donor’ in the US midterm elections
Crypto billionaire and FTX founder Sam Bankman-Fried have admitted to being a “significant donor” to both sides of the political spectrum ahead of the 2022 midterm elections. Days ahead of the United States midterm elections on Nov. 8, SBF told his Twitter followers that he has given contributions to electoral campaigns on both sides of the fence…(Read More)
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