Daily Web3 Headlines You Need To Know

10 October #NFT #Developers #Metaverse #DeFi & Trading #Policy&Law

🖼 NFT

Who Will Dominate Web3?
There are many new crypto-native organizations, and a key question is which of them can stand out in and shape web3. To get some hints, we need to look especially towards the world of NFTs, from which several key players have emerged…(Read More)

Critics can’t stop NFTs from becoming a mainstay of daily life
Some critics deem nonfungible tokens (NFTs) to be totally worthless. They don’t see the point. Why should they? The industry hasn’t covered itself in glory with countless rug pulls and celebrity endorsements with prompt pump-and-dumps. But, this is missing the point. Already most of the digital and physical objects we use in real life are unique, they are not fungible: this means they cannot be copied, substituted or subdivided…(Read More)

30-Day NFT Sales Are 88% Lower Than They Were 8 Months Ago, Google Searches Nosedived
At the end of January 2022, non-fungible token (NFT) sales raked in $4.77 billion and NFT sales have slipped month after month since then. Last month, $549.82 million in NFT sales took place in September which shows monthly NFT sales are more than 88% lower than they were in January. Furthermore, after the search term “NFT” reached the highest score on Google Trends last January, tapping a score of 100, the last week of September’s score was 12, which is also 88% lower in terms of interest…(Read More)

🔗 Developers

Low-Code/No-Code Options Key to Bringing Web3 Mainstream
But even with all the money it’s generated and the media coverage received, Web3 hasn’t yet gained the mainstream acceptance that Web2 has achieved. One of the main reasons for this gap is that blockchain-based technology continues to be complex, requiring developers to learn new languages and development environments as well as gain expertise in concepts like cryptography, hashing, oracles, zero-knowledge proofs, proof of work, proof of stake and more. And even once users understand that they then need to figure out how these pieces all fit together. The required time and money investment has slowed adoption by developers — until now…(Read More)

🌖 Metaverse

It’s Lonely in the Metaverse: Decentraland’s 38 Daily Active Users in a $1.3B Ecosystem
What’s going on in the metaverse these days, you might ask. Looking at two of the biggest companies with over $1 billion valuations, the answer is surprising: Not much, or at least not enough to bring users back every day. According to data from DappRadar, the Ethereum-based virtual world Decentraland had 38 active users in the past 24 hours, while competitor The Sandbox boasted 522 active users in that same time…(Read More)

Skepticism, Confusion, Frustration: Inside Mark Zuckerberg’s Metaverse Struggles
Last October, when Mark Zuckerberg, the chief executive of Facebook, announced that the company would change its name to Meta and become a “metaverse company,” he sketched a vision of a utopian future many years off in which billions of people would inhabit immersive digital environments for hours on end, working, socializing and playing games inside virtual and augmented worlds…(Read More)

📈 DeFi & Trading

Over 12,000 Brazil companies declare crypto holdings in record high
The number of companies holding cryptocurrency in Brazil has reached new record highs as of August, amid an increased trust in cryptocurrencies and high inflation rates. According to local media reports, the country’s taxation authority, Receita Federal do Brasil (RFB), also known as the Federal Revenue of Brazil, recorded 12,053 unique organizations declaring crypto on their balance sheets in August 2022…(Read More)

Crypto traders shift their focus to altcoins while Bitcoin price consolidates
The U.S. equities markets fell sharply on Oct. 7 following the release of September’s nonfarm payroll data, but they did manage marginal gains for the week. The S&P 500 rose 1.5% and the Nasdaq Composite climbed 0.7% last week. Meanwhile, Bitcoin is on track to finish the week with marginal gains of about 2%…(Read More)

‘No basis’ for Binance’s partial delisting of HNT — Helium COO
The chief operating officer for the Helium Foundation, Scott Sigel has claimed there is “no basis” for cryptocurrency exchange Binance to delist several trading pairs of its cryptocurrency — Helium Network Token (HNT). Binance “strongly advised” users to close any positions in its listed pairs as user positions will be forcibly closed, and any pending orders canceled on Oct. 12 with only spot trading for the HNT/BUSD pair remaining…(Read More)

⚖️ Policy & Law

PayPal says policy to punish users for misinformation was ‘in error’
Online payment network PayPal has reneged on a controversial policy that could’ve seen users fined $2,500 for spreading “misinformation,” with the payment platform claiming the policy update was published “in error.” The now retracted misinformation clause in PayPal’s Acceptable Use Policy (AUP) was set to take effect on Nov. 3, which would have expanded its list of prohibited activities to include “the sending, posting, or publication of any messages, content, or materials” that “promotes misinformation.”…(Read More)

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