Daily Web3 Headlines You Need To Know

12 September #NFT #Developers #Metaverse #DeFi & Trading #Policy & Law

Ethereum Merge countdown (Source: Decrypt)

🖼 NFT

Chipsmore and Monopoly bring NFT twist to virtual board game
Mondelēz Malaysia’s Chipsmore has partnered with Monopoly again for its virtual board game contest with a twist. The Chipsmore Metapoly, a reimagined Monopoly game filled with a new concept of properties in fascinating yet over-the-top cookie-inspired spaces, features what the brand touts to be first-of-its-kind NFTs to be given away as prizes…(Read More)

It’s Time to Separate NFTs From Digital Art
While digital art can certainly be made into an NFT, NFTs are ultimately a much wider category than that which is restricted to art, and I believe that associating the two too closely does a disservice to each. Digital art is simply the latest evolution of humans using tools at their disposal to make art. From drawing on cave walls, to using pen, paper and paint…(Read More)

🔗 Developers

Ethereum Merge makes network more vulnerable to attack — Security expert
Despite the Ethereum Merge being touted as a major upgrade to the blockchain network, its transition to proof-of-stake theoretically makes it more vulnerable to exploit. Speaking to Cointelegraph, the security researcher explained that unlike proof-of-work (PoW) systems, a proof-of-stake (PoS) system informs node validators in advance what blocks they will validate, thus enabling them to plan attacks…(Read More)

🌖 Metaverse

Metaverse craze hits Asia, with cities and companies chasing after a $1.1 trillion pie
In the new digital world dubbed the metaverse, you can do everything you do in real life and more — as an avatar. From gaming and shopping to socialising, going on vacations, and even buying land, you can do it all from the comfort of your home, donning virtual reality (VR) headsets for the ultimate experience…(Read More)

S.Korean man sentenced to four years for sexual abuse in metaverse
The offender met the underage victims on a South Korean metaverse platform, where he used an avatar to misrepresent his age and offer gifts to draw in the victims.
On top of the jail sentence, the offender is obliged to attend 80 hours of treatment programs for sex criminals, and was banned from working in any entity related to teens or the disabled for seven years…(Read More)

📈 DeFi & Trading

Google gets in on Ethereum Merge excitement with nifty easter egg
As a sign of support for the upcoming Ethereum Merge, tech juggernaut Google is marking the time left until the upgrade with a new countdown timer. Typing any variation of “Ethereum Merge” or “The Merge” into the search engine shows a countdown ticker, with the estimated time left until the Merge based on the current difficulty, hash rate, and merge difficulty…(Read More)

Crypto insurance a ‘sleeping giant’ with only 1% of investments covered
While on-chain insurance has been around since 2017, only a measly 1% of all crypto investments are actually covered by insurance, meaning the industry remains a “sleeping giant,” according to a crypto insurance executive. Speaking to Cointelegraph, Dan Thomson, the CMO of decentralized cover protocol InsurAce said there is a massive disparity between the total value locked (TVL) in crypto and decentralized finance (DeFi) protocols and the percentage of that TVL with insurance coverage…(Read More)

Terra back from the dead? LUNA price rises 300% in September
Terra has become a controversial blockchain project after the collapse of its native token Terra (LUNA) and stablecoin TerraUSD (UST) in May. But, its recent gains are hard to ignore for cryptocurrency traders. LUNA’s performance in September is particularly interesting, given it has rallied by more than 300% month-to-date after a long period of sideways consolidation…(Read More)

⚖️ Policy & Law

Exchanges criticized for ‘nothingburger PR’ posts on upcoming LUNC tax burn
As the upcoming Terra Classic (LUNC) burning mechanism gained more hype, some crypto exchanges thought it would be a good idea to express their support. However, the crypto community quickly responded, calling out the exchanges for what some believe to be public relations stunts. On Sept. 1, Terra community member Edward Kim submitted a proposal to implement a 1.2% tax burn for every on-chain LUNC transaction in an effort to revive the crypto. The transaction tax will be sent to a dead address, removing part of the circulating supply permanently. Following the proposal, the LUNC token soared by 250%, as the hype surrounding the project showed signs of life…(Read More)

Florida govt warns against auto warranty scammers asking crypto payments
Regardless of the methods used by scammers to contact potential victims, the FDACS newsletter highlighted five red flags that can help citizens identify and evade possible scams. The Florida Department of Agriculture and Consumer Services (FDACS) issued a warning sharing insights into identifying robocall scam marketing auto warranties, which includes being asked to pay for the services via gift cards and cryptocurrencies…(Read More)

🔥 Events

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