The Wallet Report #23
Top Stories
Game7 report : In 2022 and 2023, the blockchain gaming industry saw over 200 games halt development, primarily due to financial difficulties, especially among smaller studios. Despite this, indie games remain prevalent in Web3 gaming. Increased competition among blockchain networks has led to a rise in game developers switching chains. This year, games migrated to Polygon, Immutable, and Arbitrum in the largest numbers (link)
Tether Holdings : In a significant diversification of its core business of managing the USDT stablecoin, Tether Holdings Ltd. is pivoting a portion of its operations toward Bitcoin (BTC) mining, with a planned $500 million investment, leveraging its $3.2 billion cash surplus. The company is establishing mining facilities in Uruguay, Paraguay, and El Salvador, aiming for 1% of the Bitcoin network's total computing power. This move into the competitive crypto-mining sector comes with risks, including fluctuating energy costs and the impact of the upcoming Bitcoin halving. (link)
Disney collaborates with Dapper Labs to launch Disney Pinnacle, an app for trading digital collectible NFTs featuring Disney IPs. Leveraging Dapper Labs' experience in Web3 applications, this venture aims to merge popular culture with digital assets, targeting Disney's large fanbase and NFT enthusiasts. (link)
Uniswap Labs has launched its Android mobile wallet app with an integrated swap function on the Google Play store. This user-friendly app, previously in closed beta, now allows direct swaps through the Uniswap decentralized exchange. It supports multiple languages and local currency displays, meeting a high demand from the Uniswap community. The app's release follows an earlier iOS version and marks a significant development for the Uniswap ecosystem. (link)
Web3 Gaming
Ubisoft plans a free Ethereum NFT mint for "Champions Tactics: Grimoria Chronicles," an upcoming crypto-native game. The mint offers 9,999 Warlords NFTs, giving holders early access to in-game figurines. Users can participate in the mint through Twitter engagement, with Ubisoft selecting eligible users for an allowlist and a private Discord server. The game, featuring online strategy battles with fantasy characters, is scheduled to launch on PC in early 2024. (link)
PancakeSwap has launched a gaming marketplace with web3 features, debuting with two games and supporting nine blockchains. This move represents an innovation step for the second-largest decentralized exchange, aiming to create a vibrant, community-driven gaming ecosystem. (link)
Phantom Galaxies, a mecha combat game by Blowfish Studios, is now in early access. It's available as a free-to-play Web3 version on its website and Epic Games Store, and a non-Web3 version on Steam. This free-to-play sci-fi RPG offers a mix of story, PvE, and PvP gameplay, allowing players to pilot customizable mechas. It features blockchain integration for digital asset ownership and uses the ASTRAFER currency for in-game transactions. (link)
Immutable has partnered with Ubisoft's Strategic Innovation Lab to integrate cryptocurrency technology into gaming, enhancing player experiences. This collaboration leverages Immutable's expertise in Web3 games and its zero-knowledge-rollup (ZK-rollup) solutions, like Immutable zkEVM and Immutable X, for efficient Ethereum Layer 2 scaling. The partnership aims to set a new standard in gaming infrastructure by facilitating seamless digital transactions in games. (link)
Nakamoto Games / Telegram : Nakamoto Games is integrating its gaming app with Telegram, a first for a crypto company, to offer its 200+ games to Telegram's 800 million users. Launching on November 20th, this move aims to blend gaming with messaging, potentially mainstreaming blockchain gaming and enhancing Telegram's functionality. (link)
NFTs
Paris Saint-Germain F.C. and Blvck Paris have collaborated on an exclusive collection blending sports and fashion with digital art via NFTs. The collection, available on Crypto.com, features 1,000 NFTs that grant early access to physical apparel and other benefits. These NFTs, part of a wider trend of Paris Saint-Germain's involvement in the crypto space, represent a unique fusion of monochrome fashion and sports memorabilia.(link)
New York's MoMA has incorporated AI and NFT art into its collection with Refik Anadol’s “Unsupervised” and Ian Cheng’s “3FACE”. These pieces, blending technology with art, showcase MoMA's embrace of innovative forms. Anadol's work visualizes art history through AI, while Cheng's offers dynamic blockchain-based portraits, marking a significant step for digital art in mainstream galleries. (link)
Dairy Queen is collaborating with the NFT project Weirdo Ghost Gang to launch a pop-up NFT store in Chengdu, China, featuring co-branded merchandise and exclusive perks for NFT holders. This initiative, part of Dairy Queen's digital marketing strategy, aims to increase engagement and understanding of NFTs among consumers. (link)
Modhaus : South Korean startup Modhaus, blending K-pop with blockchain, raised $8 million in Series A funding. The company formed K-pop girl group tripleS using an NFT voting system, where fans buy NFT photocards to participate in group decisions. This innovative approach has drawn significant engagement, showcasing the merging of K-pop with Web3 technology. (link)
Bitcoin has overtaken Ethereum in 24-hour NFT sales volume for the first time, indicating a shift in the NFT market. Despite Ethereum's higher overall sales, Bitcoin's market shows healthier activity with a lower wash percentage. Concurrently, Ethereum's price performance is outpacing Bitcoin, and Bitcoin's correlation with traditional assets like the Nasdaq 100 and US dollar is notably declining. (link)
DeFi
Aave Companies has rebranded to Avara, expanding its Web3 ecosystem presence with products like the Aave liquidity protocol and GHO stablecoin. The new name reflects a broader, more inclusive vision. Avara has also acquired Los Feliz Engineering, integrating the Family Wallet and ConnectKit to enhance its offerings. This move aims to make blockchain technology more accessible and fun, while continuing to innovate in the DeFi space. (link)
The Midas stablecoin, backed by US Treasuries and set for a 2024 retail launch, aims to integrate with major DeFi platforms. This initiative, collaborating with BlackRock and utilizing USDC, seeks to tokenize traditional finance assets to enhance DeFi yields. Fully compliant with European regulations, Midas represents a convergence of cryptocurrency and traditional finance, capitalizing on the growing interest in yield-bearing stablecoins. (link)
GeckoTerminal, created by CoinGecko, revolutionizes crypto monitoring with its DEX and DeFi API, emerging as a top real-time tracker for decentralized exchanges. It provides comprehensive monitoring of cryptocurrency prices, volumes, and transactions across blockchains. Its user-friendly interface simplifies DeFi metrics, making it a crucial tool for crypto enthusiasts and traders, while bridging various blockchain networks for a unified view of the DeFi landscape. (link)
Gearbox Protocol is launching its v3 upgrade in the DeFi sector, introducing an Onchain Credit Layer for enhanced credit management in DeFi and NFTs. The upgrade focuses on account abstraction for better control of credit accounts and smart contract management. V3 will feature adjustable collateral limits, differential borrowing rates, and modular pools for varied user needs, including institutions and DAOs, offering a more flexible and comprehensive DeFi experience. (link)
Horizen EON : The integration of the Archon bridge on the Horizen EON platform marks a key advancement in decentralized finance (DeFi), facilitating seamless cryptocurrency transfers between Horizen EON, Ethereum, and Avalanche networks. This strategic partnership with Web3 venture studio Archon enhances the platform's functionality and user experience. It represents a significant step in blockchain interoperability and connectivity, aiming to simplify and accelerate DeFi adoption within the Web3 ecosystem. (link)
One more thing!
Whether you're a GameFi enthusiast or just embarking on your journey into the Web3 world, we've got something special for you. Head over to the Chrome store to download the latest version of the Kayros wallet and be among the first to get a taste of what's coming with Kayros quests!