Daily Web3 Headlines You Need To Know
31 October #NFT #Developers #Metaverse #DeFi&Trading #Policy&Law
🖼 NFT
An introduction to decentralized NFT catalogs
Over the last year, venture capitalists poured more than $4.6 billion into infrastructure and projects related to nonfungible tokens (NFTs). This infrastructure now needs users. They will come when people understand that they can apply these NFTs not just for speculative purposes but to design and structure their everyday activities. For these, they don’t need NFTs — they need to sort their lives out. And, decentralized catalogs are there to help them do it…(Read More)
🔗 Developers
How ChainPort Is Making DeFi Cross-Chain Bridges Safer
Hacks in the decentralized finance (DeFi) space have become so rampant that they are expected at this point. However, with billions of dollars passing through the industry, it has become imperative to ensure the safety of users through adequate security measures. Bitcoinist caught up with Erez Ben-Kiki, CEO and Founder of DeFi cross-chain bridge, ChainPort, where he shares thoughts on the current DeFi climate and how ChainPort is ensuring the safety of user funds on its platform…(Read More)
🌖 Metaverse
Facebook became Meta one year ago: Here’s what it’s achieved
Last week, Altimeter Capital’s CEO and founder called Meta’s $10 billion to $15 billion a year investment into the Metaverse as “super-sized and terrifying.” Meta’s Q3 report appeared to only solidify these concerns, with the stock price falling 23.6% following its release, while Meta’s virtual reality research and development arm Reality Labs posted an accumulated loss of $9.44 billion so far this year…(Read More)
📈 DeFi / Trading
Surging Popularity of Ethereum Staking Keeps Lid on Yields
That’s a consequence of the formula used to calculate the yields under the Ethereum blockchain’s month-old “proof-of-stake” model: The staking yields are awarded in ether (ETH), the native cryptocurrency of the Ethereum blockchain. And the total amount of ether available for staking yields is divided between all the accounts that are staking. So the more ether that’s sent to the blockchain for staking, the lower the percentage that’s available for each staker…(Read More)
Crypto Platform Freeway’s Lack of Transparency Should Have Been a Red Flag
Any project that wants to be serious about not being considered a scam posts code onto GitHub. Open-source code lets you peer inside a project and see how it runs. The difference is that investors, by analyzing the code, should have been aware of market risks. It doesn’t mean that there wasn’t enough information about Do Kwon and the project for investors to consider; it wasn’t a black box project, just a translucent one. This doesn’t disprove the notion that within open source software there’s strength through transparency…(Read More)
Dogecoin Futures Rack Up Nearly $90M in Liquidations Over Weekend in Unusual Move
Dogecoin trading over the weekend saw the shiba inu-themed memecoin reach a market capitalization of over $10 billion, add over 90% in value over the past week and become one of the largest liquidators among futures that track crypto majors. Dogecoin futures racked up over $89 million in liquidations since Friday amid volatile trading as Elon Musk’s purchase of Twitter was confirmed…(Read More)
62% of Dogecoin hodlers in profit amid hopes of Twitter integration
Tesla CEO and billionaire Elon Musk’s acquisition of Twitter has tipped 62% of Dogecoin (DOGE) investors into profit, amid speculation that Musk’s Twitter-buy will be positive for the meme token. DOGE’s price rallied on Oct. 26 when billionaire entrepreneur Elon Musk changed his Twitter bio to “Chief of Twit” — the same day he visited Twitter’s San Francisco-based headquarters before officially closing the deal as the new owner on Oct. 28…(Read More)
⚖️ Policy & Law
Blockchain Association throws support behind Ripple in SEC duel
The United States-based crypto industry advocacy group the Blockchain Association has said it will stand with Ripple Labs amid its ongoing legal battle with the Securities and Exchange Commission (SEC), claiming the case could be very important for the future of the industry…(Read More)
Terrorists are funding their horrible deeds with crypto: UN officials
Terrorist groups who have been excluded from the “formal financial system” have turned to crypto to fund their heinous activities, according to Svetlana Martynova, the Countering Financing of Terrorism Coordinator at the United Nations (UN). The UN official made the comments during a speech at a “Special Meeting” run by the UN’s Counter-Terrorism Committee (CTC) in New Delhi and Mumbai on Oct. 28–29 — which was focused on combating the use of “new and emerging technologies” for terrorist purposes…(Read More)
5,000 miles apart: Thailand and Hungary to jointly explore blockchain tech
The financial technology associations for Thailand and Hungary have signed a bilateral Memorandum of Understanding (MOU) to support the introduction of blockchain technology to their respective financial sectors. The MOU, signed by the Thai Fintech Association (TFA) and the Hungarian Blockchain Coalition on Oct. 25, will see the two associations “share experiences, best practices and explore areas potentially beneficial for direct cooperation,” according to a Facebook post by the Embassy of Hungary in Bangkok…(Read More)
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