Daily Web3 Headlines You Need To Know

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

🖼 NFT

Azuki ‘Proof of Skate’ Auction Draws $2.5 Million for NFT-Backed Skateboards
NFTs are often thought of as flat images, but a bidding war broke out on Friday over physical skateboards authenticated by an embedded chip. The auction — hosted by Chiru Labs, creators of the Azuki brand — allowed people to place bids in Ethereum to secure one of eight skateboards, and amassed $2.5 million in ETH…(Read More)

While Overall NFT Transactions and Buyers Are Down, NFT Sales Jumped 2% Higher Than Last Week
While NFT sales are a lot lower than they were a few months ago, this past week with $85,068,480 in sales volume according to cryptoslam.io, NFT sales are up 1.9%. The top collection this week selling the most NFTs stemmed from Sorare as the Ethereum-based project saw $8.5 million in sales. Bored Ape Yacht Club (BAYC) reigned in the second position in terms of seven-day sales, raking in $6.69 million. Besides Sorare and BAYC, Gods Unchained, Azuki, and Cryptopunks hold positions in this week’s top five-selling NFT collections…(Read More)

🔗 Developers

VC Roundup: Web3 dev, EVM sharding and crypto banking headline blockchain funding deals
Web3 dominance within crypto funding rounds has been well documented by Cointelegraph Research. In addition to the Web3 mega funds announced recently, venture capital has also been making smaller, more targeted investments in the sector. In this week’s venture capital (VC) Roundup, we chronicle the latest Web3 funding initiatives and draw attention to a sharding platform, nonfungible token (NFT) marketplace, crypto banking solution and co-ownership infrastructure provider…(Read More)

Plaid’s New Web3 Wallet Onboard Tool Will Support MetaMask, Coinbase, Ledger
Fintech giant Plaid is releasing its first crypto-native product called “Wallet Onboard” last Friday. Marketed for developers, Plaid’s new crypto wallet interface will enable Web3 builders to easily access over 300 wallets, including MetaMask, Ledger, Coinbase Wallet, and Trust Wallet…(Read More)

📈 DeFi / Trading

Crypto Staking Platform Freeway Halts Withdrawals
Freeway, a cryptocurrency staking platform, has paused withdrawals citing crypto and forex market volatility. The sudden move of the project is signaling another rug-pull in the crypto space. The cryptocurrency project offers ‘Superchargers’ with an annual yield of up to 43 percent. It takes deposits in both fiat and cryptocurrencies, putting them in regulated brokerage accounts…(Read More)

A stablecoin’s rise in market share has ignited the ‘Second Great Stablecoin War’
FTX CEO Sam Bankman-Fried (SBF) said the rise of Binance stablecoin Binance USD (BUSD) could spark the “Second Great Stablecoin War,” given how fast its market cap has surged over recent months. Bankman-Fried’s recent comments come a month after Binance pushed ahead with plans to auto-convert a host of stablecoins supported on its exchange into BUSD on Sept. 6, — which has seen BUSD’s share of the total stablecoin market rise since…(Read More)

Small Bitcoin investors stop whales from crashing BTC price below $18K
Notably, there has been some on-chain divergence between so-called whales (entities that hold more than 1,000 BTC) and fishes (entities that hold relatively smaller amounts of BTC) as Bitcoin continues to fluctuate inside the $18,000-$20,000 area. Bitcoin fishes have been accumulating BTC during the coin’s sideways trend. For instance, the net Bitcoin supply held by addresses with 100–1,000 BTC balance has increased from 3.71 million in June to 3.77 million in October, according to data provided by Glassnode…(Read More)

Japan’s International Payments System will test plastic cards for CBDC
Japan Credit Bureau (JCB), a Japanese analog to international payments systems like Visa or Mastercard, announced the start of its central bank digital currency (CBDC) infrastructure testing. The project will assumably prepare the payments platform for a national CBDC, which is currently being tested by the Bank of Japan (BoJ)…(Read More)

Web3 grows in online searches as interest in Bitcoin declines: Google Trends
As a result of the prolonged bear market, global Google searches for Bitcoin have reached their lowest point in over a year. On the other hand, Google searches for Web3 have picked up steam and recorded an all-time high in terms of peak popularity in 2022…(Read More)

⚖️ Policy & Law

Rising Number of Cryptocurrency Scams in the UK. FCA Opened 432 Cases
The United Kingdom’s Financial Conduct Authority (FCA) has opened 432 regulatory cases regarding possible crypto scams or unregistered businesses, according to the regulator’s fourth Consumer Investments Data Review published this week. The document aggregates data from April 1, 2021, to March 31, 2022…(Read More)

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