Daily Web3 Headlines You Need To Know

04 November #NFT #Metaverse #GameFi #DeFi&Trading #Policy&Law


NFTs still in ‘great demand’ as unique traders rise 18% in Oct: DappRadar
October may have seen a decline in nonfungible token (NFT) trading volume and sales, but analytics firm DappRadar says an 18% growth in monthly unique NFT traders shows the market is still in “great demand.” According to a Nov. 3 report from DappRadar, the number of monthly unique NFT traders in October reached 1.11 million, increasing 18% from September, of approximately 950,000…(Read More)

Crypto Exchange Kraken Launches ‘Gasless’ NFT Marketplace
Cryptocurrency exchange Kraken has launched the beta version of its platform for its non-fungible token (NFT) marketplace, which offers “gasless” transactions and an intuitive design. Currently the marketplace is only open to customers who joined the waitlist in May, 2022. Kraken NFT touts itself as “the complete solution for exploring, curating and securing your NFT collection.”…(Read More)

🌖 Metaverse

Billions being spent in metaverse land grab
Nearly $2bn (£1.75bn) has been spent on virtual land in the past 12 months, as people and companies race to get a foothold in the metaverse, research shows. But we are years away from the metaverse emerging as a single immersive space online where people can live, work and play in virtual reality. So is the land grab one big gamble?…(Read More)

The Sandbox co-founder explains how the metaverse has evolved for brands: Web Summit 2022
The building of the metaverse is an ongoing process. Sebastien Borget, co-founder of The Sandbox metaverse, even called the future of the metaverse evolving. Speaking to Cointelegraph’s Gareth Jenkinson at the Web Summit tech conference in Portugal on Nov. 3, Borget said that what we see today in The Sandbox is “the natural evolution of things” after almost a decade of work. The evolution of the metaverse, particularly the way brands engage with users, has accelerated at rapid speed…(Read More)

👾 Game-Fi

Game Space establishes GameFi Future Fund with an initial $10 million to support GameFi 3.0
Game Space, the first GameFi as a Service (GaaS) platform in the industry, announced the establishment of the GameFi Future Fund with a focus on the next generation of GameFi 3.0. The Foundation will be used to invest and incubate GameFi and NFT, PFP, and DID projects, aiming to help quality projects flourish in terms of infrastructure, marketing, operations, and trading. With an initial fund size of $10 million, Game Space’s vision is to help developers of high-quality IP games to further spin off and expand into Web3…(Read More)

A New Web 3 Blockbuster In The Next-level GameFi Generation
Sportofi is a GameFi genre that predicts results through action, ushering in a new Predict-To-Earn trend. The novelty and familiarity of the game’s variety of sports will overwhelm players in the world of Sportofi. The simple and easy-to-use interface, similar to that of traditional sports games, immediately draws players in. The factor that ensures the quality and long-term development of the Predict-To-Earn game series is to assist players in earning money and interacting with the exchange itself, which distinguishes it from other peer-to-peer games/ platforms. All of this demonstrates the project’s long-term financial viability…(Read More)

📈 DeFi / Trading

What will Crypto Twitter look like post-acquisition? Blockchain executives share their insights
Nearly seven months after Tesla CEO Elon Musk first made a tender offer to purchase social media giant Twitter, the $44 billion deal finally came to a close, resembling much of the original terms despite a heated corporate tug-of-war. As a platform for news and announcements, marketing, and developer-user communication in the blockchain realm, crypto enthusiasts have already begun to speculate on the future of Twitter now that it’s in the hands of the billionaire tech entrepreneur…(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)

Coinbase Narrows Q3 Losses despite a Declining Transaction Revenue
The cryptocurrency exchange also reported a net loss of $545 million for the quarter. However, it managed to narrow the losses from the previous quarter’s loss of more than $1 billion. The company posted a loss of $430 million in the first quarter of this year, whereas it ended the third quarter of 2021 with a profit of $406 million…(Read More)

Zero Hash Launches Operations in Brazil as First Step in Latin America
Zero Hash, which helps companies offer digital assets to their clients, opened operations in Brazil as the first step of its expansion into Latin America.The company can now provide partners in Brazil custody, execution, settlement and liquidity solutions, said Zero Hash CEO Edward Woodford in a statement. Following a $35 million funding round in January, Zero Hash established…(Read More)

Silk Road Was the Darknet Market Testing Ground For Bitcoin
For the uninitiated, The Silk Road was a darknet marketplace where users bought and sold all manner of products, including those considered illegal — most often drugs. Supporters argued that the Silk Road leveraged technology to create markets necessarily divorced from the corruption of governments and big banks. For critics, the marketplace was an enemy of The State, that facilitated the sale of illegal substances that decimated countless lives…(Read More)

⚖️ Policy & Law

Circle Begins Putting Reserves Into New BlackRock Fund
Circle Internet Financial has begun moving the reserves for its USDC stablecoin into a dedicated fund set up by BlackRock and registered with the U.S. Securities and Exchange Commission, the company disclosed Thursday. The Circle Reserve Fund — a government money market fund managed by BlackRock Advisors — has been in the works for months after BlackRock initially sought to register it in May…(Read More)

You have our swords: 12 independent entities pledge legal support for Ripple
Fintech firm Ripple is garnering more support from the crypto and finance industry in its ongoing battle with the United States Securities and Exchange Commission (SEC). On Nov. 4, Ripple CEO Brad Garlinghouse proudly tweeted that the number of companies, developers, exchanges, associations and investors officially supporting the firm has reached 12…(Read More)

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