Daily Web3 Headlines You Need To Know

14 October #NFT #Developers #DeFi & Trading #Policy&Law


NFTs will be ‘as disruptive’ as Bitcoin was 10 years ago — Kraken exec
Nonfungible token (NFT) trading volumes may have dropped nearly 98% since January, but several industry executives tell Cointelegraph that it’s nothing to fear as the technology continues to develop and mature. Jonathon Miller, managing director of cryptocurrency exchange Kraken in Australia, said “despite NFT market activity and sales volume having slowed down in September, we are still seeing positive adoption signals at an institutional level and continued growth in use cases.”…(Read More)

Japanese gaming giant’s hiring spree ahead of NFT marketplace
Japanese gaming giant Konami is seeking to expand its crypto-versed talent pool while it eyes the development of Web3 and metaverse “experiences” and a nonfungible token (NFT) marketplace. The gaming giant is the latest in a lengthening list of big names signaling interest in expanding its Web3 offerings by seeking to acquire new talent…(Read More)

NFT games are ‘only scratching the surface’ of what’s possible — Animoca’s Yat Siu
Animoca Brands co-founder Yat Siu believes nonfungible token (NFT) games are only scratching the surface of what’s possible and predicts completely new models of gaming will be developed as a result of digital ownership. Speaking to Cointelegraph, Siu likened the potential growth of NFT gaming to mobile phone gaming, which started out relatively niche and clunky in its formative stages before rocketing to become the most popular method of gaming across the globe…(Read More)

CoinShares Releases Experimental AI Bot That Tries to Calculate the Fair Price for an NFT
Europe-based digital asset management platform CoinShares released an experimental artificial intelligence (AI) bot on Thursday that might be able to help traders determine a fair price for some non-fungible tokens (NFT). The experimental project, called CoinSharesNFTAI, aggregates different sets of data to provide a user with what it determines is a fair price for a rotating list of top NFT collections on OpenSea, the most popular NFT marketplace…(Read More)

🔗 Developers

Web3 devs ‘more active than ever’ amid crypto winter: Report​​
Web3 developers don’t appear to be fazed by the crypto bear market, with one Web3 platform suggesting they’re “more active than ever” — particularly on the Ethereum network. In a new Q3 2022 report on Oct. 13 by Web3 development platform Alchemy, the company said that 2022 could be the “biggest year yet” for Web3 developers…(Read More)

📈 DeFi & Trading

China floats idea of ‘Asian yuan’ to reduce reliance on US dollar
The views of researchers Liu Dongmin, Song Shuang, and Zhou Xuezhi from a unit of the Chinese Academy of Social Sciences (CASS) were published in an issue of the “World Affairs journal” posted online in late September, who said the establishment of an “Asian yuan” token would lower Asia’s reliance on the U.S. dollar…(Read More)

⚖️ Policy & Law

Regulators are ‘spending too much time’ on crypto: Comptroller
United States Acting Comptroller of the Currency (OCC) Michael Hsu has expressed concerns that regulators are spending “too much time on crypto,” rather than more pressing issues, such as technology and banking. The crypto skeptic OCC head made the comments during an interview with Reuters on Oct. 13, as he outlined a worry that crypto is “occupying a lot of brain space for an awful lot of people” in the regulatory community…(Read More)

New crypto accounting guidelines could ‘smooth the way’ for adoption
The United States Financial Accounting Standards Board’s (FASB) decision to allow companies to use “fair value” to account for their crypto holdings could be seen as another step toward the wider institutional adoption of cryptocurrency. During a meeting on Oct. 12, the FASB board made the decision to require entities to measure crypto assets at “fair value.”…(Read More)

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