Daily Web3 Headlines You Need To Know

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


TV streaming providers should start relying on NFTs
Subscription-based services have become so ubiquitous it’s hard to remember a time when they weren’t the norm. Streaming companies have sought to take advantage of that norm by fleecing consumers for everything they’re worth — just look at Netflix’s decision to start running advertisements. Another benefit of leveraging NFT technology is that streaming services can increasingly be used to create communities…(Read More)

Twitter Announces New Feature ‘NFT Tweet Tiles’
It’s a hectic and non-stop week for Twitter, as the social media platform counts down it’s final days as a publicly-traded company on the heels of the Elon Musk-led private acquisition. However, the platform’s development team is seemingly still full steam ahead, and has announced a new feature in testing around NFTs on Thursday…(Read More)

🔗 Developers

Axelar partners with Polygon to deliver cross-chain communication to Polygon Supernets
Cross-chain platform Axelar has announced a partnership with Polygon to deliver secure cross-chain communications to Polygon Supernets. The company said that Axelar’s partnership with Polygon will serve as infrastructure for an interoperable internet of dedicated Ethereum Virtual Machine (EVM) blockchains powered by Polygon Edge…(Read More)

THORChain network halted following software bug
Cross-chain exchange and proof-of-bond network THORChain was halted earlier today as the result of a bug causing “non-determinism between individual nodes.” At around 8 pm UTC, the THORChain team initially tweeted that developers were aware of a chain outage and were working to find the root cause of the issue…(Read More)

Solana-based protocol seeking to decentralize ride-sharing raises $9M
The ride-sharing industry is poised for another paradigm shift, with Web3 protocols allowing new companies and drivers to bid for rides using a matching algorithm, according to the Decentralized Engineering Cooperation (DEC) — the company behind the Solana-based protocol TRIP that enables mobility-based applications. According to DEC, on the TRIP platform, companies and riders can collaborate and compete in a shared marketplace…(Read More)

Google Introduces Cloud-Based Blockchain Node Service for Ethereum
The company said its Google Cloud Blockchain Node Engine will be a “fully managed node-hosting service that can minimize the need for node operations,” meaning that Google will be responsible for monitoring node activity and restarting them during outages. A node is a type of computer that runs a blockchain’s software to validate and store the history of transactions on a blockchain’s network…(Read More)

🌖 Metaverse

Tech Behemoths Could Become ‘Dinosaurs’ if They Enter the Metaverse for the Wrong Reasons, Deepak Chopra Says
Tech giants need better motivation for moving into the metaverse than just making money if they want to make a true impact and avoid the fate of the “dinosaurs,” said bestselling author Deepak Chopra. Chopra told CoinDesk TV’s “First Mover” on Thursday that, as with the dinosaurs, the principles of evolution tend to “sort everything out” when it comes to Big Tech…(Read More)

📈 DeFi / Trading

Team Finance exploited for $14.5M during protocol migration despite contract audit
On Oct. 27, decentralized finance (DeFi) lockup protocol Team Finance said that over $14.5 million worth of tokens were exploited through the Uniswap v2 to v3 migration function on its platform. As told by blockchain security firm PeckShield, the hacker transferred liquidity from Uniswap v2 assets on Team Finance to an attacker-controlled v3 pair with skewed pricing. By locking tokens to the contract, the attacker bypassed existing validation mechanisms and pocketed the huge leftovers as a refund for profit…(Read More)

Dogecoin (DOGE) Whales Are Preparing For Elon Musk’s Twitter Takeover
Billionaire Elon Musk is inching further toward his eventual takeover of Twitter and Dogecoin (DOGE) whales are positioning in preparation for the takeover. Musk’s deal to acquire the social media platform has been one fraught with roadblocks along the way, but the two parties have now reached an agreement to facilitate the purchase. Now, the Dogecoin community is anticipating the finalization by Dogecoin’s biggest supporter…(Read More)

⚖️ Policy & Law

UK Court Winds Down Fraudulent Crypto Firm PGI Global
The High Court in the UK has closed down PGI Global UK Ltd for running a cryptocurrency trading scam and defrauding investors. In addition, the Official Receiver appointed a liquidator for the process of shuttering. The company’s sole director, Ramil Ventura Palafox, who lives in the United States, did not cooperate with the UK’s insolvency investigation…(Read More)

Hong Kong Set to Legalize Crypto?
Hong Kong is one of China’s most prominent financial hubs, and now it might pivot in the direction of cryptocurrencies. Despite its skeptical stance on crypto trading in recent years, the City is currently preparing a more friendly regime for digital assets, planning to legalize retail trading…(Read More)

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