The Wallet Report #19
Top Stories
Polygon is transitioning its native token from MATIC to POL. POL contracts are now testable on Ethereum's Goerli testnet. Following community feedback, Polygon Labs introduced two new proposals, PIP-24 and PIP-25, addressing the burn policy and MATIC supply. POL, designed to inflate 2% annually, will be the main token for the envisioned multichain ecosystem. More updates are expected soon.(link)
OpenSea launched OpenSea Studio, a user-friendly platform for NFT creators. While it offers direct NFT minting and supports various payment methods, there are concerns about its stance on royalties and its similarity to existing platforms like Manifold. The main issue for creators is OpenSea's approach to royalties. (link)
Binance : A Forbes report alleges that Binance distributed only 10% of promised BNB tokens during its 2017 ICO, contrary to CEO Changpeng Zhao's claims. Discrepancies in token allocations suggest Binance may control an extra $15.7 billion in BNB. The company has not commented on these findings. (link)
GameFi
LasMeta / Trantor Network, LasMeta a leading GameFi company, has partnered with Trantor Network to enhance NFT and GameFi experiences. Trantor focuses on inter-chain NFT communication and asset exchanges, while LasMeta introduces a 'Play to Earn' model using LasMeta Tokens ($LASM). Together, they aim to revolutionize NFT interoperability and provide an inclusive gaming environment in the Metaverse.(link)
Web3 Gaming : CoinGecko shows 72.5% of top gaming firms have entered web3, but only 24.1% develop blockchain games. Major players like Ubisoft and Nexon are involved. With a combined $3.2B market cap, challenges like regulation slow blockchain gaming's growth. The industry seeks a standout product for broader adoption. (link)
Grease Monkey Games introduces "Torque Drift 2", a blockchain-based racing game set in a fictional Japanese city. Merging real-world tech like LiDAR with virtual design, players can customize, monetize, and immerse themselves in an authentic drifting experience. The game is set for launch on the Epic Games Store. (link)
Gala Games is launching "Legacy", a web3 business simulation game, on October 26th, 2023. It features seamless GalaChain integration for smooth gameplay and Ethereum interoperability. Legacy emphasizes land ownership, granting in-game rewards and access to exclusive competitions. (link)
Ascenders : Legendary Foundry Games ends development of Ascenders MMORPG and company operations due to financial issues. Previous releases included mini-games, but a key NFT event in 2023 fell short financially. The company thanks its community and remains optimistic about web3 in gaming, despite their closure. (link)
NFTs
Polygon now hosts 50% of all NFTs, asserting its market leadership. Despite a 41% sales drop for Ethereum and Polygon NFTs over the past month, optimism arises from a recent 14% buyer increase. Polygon's "y00ts" leads its NFT collections, and MATIC token experiences a 4% surge, hinting at potential recovery. (link)
The Museum of Modern Art (MoMA) has launched “MoMA Postcard,” an NFT initiative allowing participants to create collaborative digital art on the blockchain. The program was initiated with 15 digital artists. Previously, MoMA explored NFTs in 2021, reflecting a growing trend in major art institutions. (link)
37xDuba art gallery : The soon-to-open 37xDubai art gallery, founded by Danilo Carlucci, will focus on blending art with technology, showcasing NFTs and educating visitors about the Web3 ecosystem. NFTs inspired by the gallery's Tree of Life installation will act as membership tokens. Carlucci emphasizes the creative potential of NFTs, despite fluctuating market sentiments. (link)
Christian Louboutin partners with Marvel to offer NFTs alongside a new physical collection. Purchasers receive a free "Sea Warrior" NFT, while launch event attendees get a "Sea Queen" NFT. These digital collectibles, inspired by Marvel designs, are created on Ethereum by VeVe, marking Louboutin's ongoing Web3 involvement (link)
Diesel's "Vert" watch collection includes unique NFT avatars with each purchase. These avatars allow users to explore Diesel's Metamorph virtual world, offering game-like challenges and promoting Web3 integration in fashion. (link)
DeFi
Friend.Tech, built on Coinbase's Layer-2, has revenues over 10,000 ETH and a TVL of 30,000+ ETH. Launched in August 2023, it offers a unique platform where users trade "keys" for private content access. The success of its sniper bots emphasizes its growing influence in the DeFi space. (link)
DeFi / AI : AI can be the key to DeFi's sustainable growth. DeFi empowers global individuals with wealth-building tools previously reserved for professionals. Despite its potential, DeFi faces challenges in liquidity, regulatory compliance, and security. AI, particularly Large Language Models (LLMs), can address these by enhancing global adoption, aiding in compliance, and improving security. (link)
Manifold Finance introduces a new MEV auction protocol allowing multiple winners per auction slot on Ethereum. The system aims to optimize MEV revenue for validators, challenging the Flashbots MEV protocol. Integrated feature mevETH, a liquid staking token, has over 28,000 ETH staked. Notable advisors include Frax's Sam Kazemian and 0xMaki. (link)
Ankr unveils Liquid Staking, enabling users to earn and maintain asset liquidity. Tiago Pratas, Ankr's DeFi lead, highlighted the benefits and mentioned their collaboration with EigenLayer for restaking. Ankr aims to expand its DeFi contributions and strengthen the web3 domain. (link)
Circle launched Perimeter Protocol, an open-source foundation for tokenized credit markets. This move supports various credit applications and is a part of Circle's new open-source initiative. Tokenization of real-world assets is on the rise, with OpenTrade's tokenized U.S. Treasury pool as the first product using Perimeter. (link)
One more thing !
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