Daily Web3 Headlines You Need To Know
21 September #NFT #Developers #DeFi & Trading #Policy&Law
🖼 NFT
OpenSea to allow creators to host NFT drops directly through its homepage
OpenSea, the digital marketplace for crypto collectibles and nonfungible tokens (NFTs), has launched a new initiative to make it easier for creators to create and distribute NFTs on its marketplace. As part of this new immersive initiative, creators will be able to launch their NFT collections on their own customizable and dedicated drop pages, which the company hopes will allow for greater visibility and discoverability on the marketplace’s new homepage. Under the customizable drop pages…(Read More)
Metaverse firm implements NFTs into its Minecraft and GTA 5 servers
Despite Minecraft creator Mojang Studios being against the integration of nonfungible tokens (NFT), a Metaverse-focused firm managed to introduce NFTs into several games including its own Minecraft server. In an interview with Cointelegraph, Oscar Franklin Tan, the chief financial officer of blockchain gaming firm Enjin, and MyMetaverse CEO Simon Kertonegoro shared how they were able to connect the dots and implement NFTs into Minecraft without violating its terms and conditions…(Read More)
Enjin co-founder: Use NFTs to track users in the metaverse
For all the hype around the metaverse, it is easy to forget it is still in its infancy. While the term has only recently entered the broad public consciousness, its impact on how we interact with technology is already expected to be deeply consequential. McKinsey & Company estimates that annual global spending within the metaverse could reach $5 trillion by 2030 across domains as broad as gaming, social, fitness, commerce and remote learning…(Read More)
🔗 Developers
Ethereum co-founder Vitalik Buterin defends DAOs against critics
Ethereum co-founder Vitalik Buterin has come out swinging in defense of Decentralized Autonomous Organizations (DAOs), arguing that in some circumstances they can be more efficient and fairer than a traditional corporate structure. In theory DAOs are collectively owned and managed by their members and have no central leadership. All decisions relating to aspects such as the usage of treasury funds or protocol improvements are made via voting on proposals submitted to the community…(Read More)
📈 DeFi & Trading
Downfall of Canada’s Lambo driving ‘Crypto King’ reportedly sees $35M in losses
A self-styled 23-year-old ‘Crypto King’ is facing a raft of demands among 140 of his investors as they try to claw back a collective total of $35 million from his company AP Private Equity Limited. According to a Sept. 20 CBC report, creditors are hard at work trying to unravel where all the money they allegedly gave Canadian Aiden Pleterski to make crypto and foreign exchange investments on their behalf ended up…(Read More)
Well-known vulnerability in private keys likely exploited in $160M Wintermute hack
Blockchain cybersecurity company Certik has said a vulnerable private key was attacked in the Wintermute hack. A vulnerability in private keys generated by the Profanity app was likely exploited. The vulnerability has been known since at least January. The U.K.-based algorithmic crypto market maker announced the hack on Tuesday and said over-the-counter and centralized finance operations were not affected. About $162.5 million worth of cryptocurrencies were taken…(Read More)
⚖️ Policy & Law
Regulatory clarity will drive the next bull run — hedge fund co-founder
A former head of risk at Credit Suisse believes the next crypto bull market will stem from “regulatory clarity” in the United States — which he expects to happen in early 2023. Speaking to Cointelegraph, the former head of valuation risk at Credit Suisse, CK Cheng said some of the regulatory efforts underway in the United States will soon “open the doors” of traditional finance to crypto…(Read More)
Draft US stablecoin bill would ban new algo stablecoins for 2 years
Draft legislation in the United States House of Representatives would place a two-year ban on new algorithmic stablecoins such as TerraUSD Classic (USTC), which depegged from the U.S. dollar earlier this year, causing widespread crypto market contagion. The bill would criminalize the creation or issuance of new “endogenously collateralized stablecoins,” according to a current draft of the legislation obtained by Bloomberg…(Read More)
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