The Wallet Report #21

Top news

Binance, the leading crypto exchange, has resumed euro (EUR) payment services for its European users after partnering with new regulated financial entities. This comes after Binance paused EUR services last month due to issues with its previous financial partner, Paysafe. While services in the British pound (GBP) are yet to be restored, Binance emphasized the significance of fiat partnerships in promoting broader crypto adoption. (link)

Ethereum co-founder Vitalik Buterin hinted at a potential integration of AI into Ethereum's future during an AMA session. While details were scant, Buterin is considering how the Ethereum community can address AI-related challenges, especially those that pose large-scale risks to humanity. The intersection of blockchain and AI has been proposed as a solution to major global challenges. Some blockchain initiatives, like Cardano-backed SingularityNET and Render Network, are already pioneering AI solutions, with their growth indicating rising interest in AI-centric crypto projects. (link)

NFT Games / "Sorare law" : The French National Assembly has approved the "Sorare law," introducing a regulatory framework specifically for video games utilizing NFTs and crypto-monetization. This legislation, part of the broader Digital Space Regulation Law, aims to differentiate crypto games from traditional gambling and video games. Named the "Jonum regime," it seeks to encourage innovation while ensuring user protection. The law now faces review by the Constitutional Council. If established, this could benefit the French crypto-gaming sector, preventing popular games like Sorare from being categorized as gambling, which has heavier taxation. (link)

GameFi

GameFi.org and the Open Network (TON) have partnered to enhance Web3 gaming. The collaboration focuses on improving Initial DEX Offerings (IDOs) via TON Blockchain integration. Together, they aim for sector-wide innovation, efficient transactions, and a richer user experience. This strategic alliance prioritizes developer support, transaction security, and inclusive growth in Web3 gaming. (link)

Formula E: High Voltage : Animoca Brands launches "Formula E: High Voltage," a Web3 racing game using Flow blockchain for NFT ownership. Players get four NFTs, representing unique cars and drivers. The game reflects the ABB FIA Formula E Championship and emphasizes eco-friendliness in its design. (link)

Brawlers, co-designed by Richard Garfield, the creator of "Magic: The Gathering," is set to launch on the Epic Game Store. Developed by Tyranno Studios, the game promotes digital card trading and player asset ownership. With the Epic Game Store's vast user base, "Brawlers" aims for mainstream success and offers cross-platform NFT functionality. (link)

Sorare, in collaboration with the NBA and NBPA, is launching its second season featuring advanced 3D NFT technology. This season introduces new 3D maps, content, and campaigns with NBA stars, alongside updated gameplay mechanics. The initiative reimagines the intersection of sports and fantasy gaming. (link)

NFTs

Rarible, an NFT marketplace, is accused of auction irregularities, particularly with Unstoppable Domains. Analysis by Match Systems found rule breaches, while AdLunam's co-founders claim they were denied domain ownership despite winning bids. Rarible's response has raised transparency concerns. Amidst this controversy, Rarible's token price and transaction volumes have dropped significantly. (link)

Refik Anadol : Despite a downturn in the NFT market, Refik Anadol's "Winds of Yawanawa" collection, a collaboration with the Brazilian Yawanawa community, has excelled with $3.9 million in weekly sales. This dynamic artwork suggests a market trend shift from basic NFTs to more intricate blockchain art pieces. (link)

The Open Metaverse Alliance (OMA3), which includes major blockchain and NFT companies such as Yuga Labs and Magic Eden, has formed a working group to standardize and protect creator royalties on NFT marketplaces. With many NFT platforms like OpenSea dropping creator fees, the Alliance believes this endangers the NFT ecosystem and the vision of a unified metaverse. The group aims to establish universal standards for NFT marketplaces, emphasizing the importance of royalties for creators' long-term online benefits. (link)

The Norman Rockwell Museum and Family are partnering with Iconic to release NFTs from the “Studio Sessions: The Norman Rockwell Collection” on November 1. This debut NFT series will include known and unreleased Rockwell works, with each NFT accompanied by a museum-quality print. The initiative supports the museum's mission and Rockwell's legacy, mirroring a prior NFT collaboration between Iconic and the Jackson Pollock Studio. (link)

DeFi

Elixir raised $7.5 million in a Series A funding round to boost liquidity in decentralized order book exchanges. Led by Hack VC, the funding will help Elixir improve trading efficiency across DeFi platforms. The protocol is set to integrate with multiple decentralized exchanges in the near future. (link)

Quantstamp has launched "DeFi Protection," a solution to reimburse users for DeFi losses due to security breaches. This U.S.-regulated service offers threat notifications, auditor support, and a reimbursement guarantee for select protocols like Aave and Uniswap. Established as a blockchain security leader, Quantstamp aims to bolster DeFi trust and safety amid increasing hack incidents. (link)

SynFutures : Singapore-based SynFutures, specializing in perpetual futures, raised $22 million led by Pantera Capital. Their upcoming V3 platform, launching in Q4 2023 on Polygon, integrates the Oyster AMM to enhance DeFi liquidity. SynFutures aims to bridge the DeFi-institutional gap, anticipating a broader market adoption. CEO Rachel Lin sees this as a crucial step for DeFi's future growth. (link)

Uniswap introduced a 0.15% fee on key trading pairs, bypassing benefits for UNI token holders. This decision has amplified concerns among UNI holders, with the token's value already down 91% from its peak. Critics see this as another sign of Uniswap sidelining its community. (link)

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