The Wallet Report #26

Top news

Binance : A US district judge has approved the plea deals between Binance, its former CEO Changpeng Zhao (CZ), and the US Department of Justice. Binance admitted guilt in multiple charges, including violating the Bank Secrecy Act and failure to register as a money transmitter, agreeing to pay over $4 billion to settle the matter. CZ was also found guilty of neglecting an effective anti-money laundering program and resigned from his position. (link)

Bitcoin ETFs : Talks between the U.S. SEC and asset management firms regarding spot Bitcoin exchange-traded funds (ETFs) have progressed to advanced stages, focusing on custody, fund mechanisms, and risk disclosures. Approval of these ETFs could provide regulated access to Bitcoin, appealing to investors wary of the unregulated crypto space. Thirteen firms, including Grayscale Investments and BlackRock, await the SEC's decision on their applications. A court decision earlier this year has seemingly opened the door for more constructive dialogues between the SEC and ETF issuers. (link)

US Pro-Blockchain Bill : A U.S. congressional committee has approved the Deploying American Blockchains Act of 2023, which directs the Secretary of Commerce to promote the competitiveness and deployment of blockchain technology in the country. The bill establishes a Blockchain Deployment Program and advisory committees, aiming to enhance the U.S.'s leadership in the blockchain sector. It now heads to the House for further consideration. (link)

Web3 Gaming

Gods Unchained : Amazon Prime is giving its subscribers free in-game card packs for the NFT game "Gods Unchained." These packs are not NFTs initially but can be converted into NFTs within the game. This promotion is part of Amazon Prime Gaming's collaboration with various NFT games. (link)

Square Enix : Gamers are paying significant amounts for Square Enix's NFT characters with unusual names like "Egg" and "Starvation." These NFTs have names that don't match their appearances, and the reason behind these names is unclear. The game, Symbiogenesis, features characters with everyday word names instead of traditional fantasy names and will launch on December 21, requiring NFT heroes for specific quests. (link)

Web3 gaming trends : In 2024, the Web3 gaming industry is expected to see more blockchain-based games with advanced features. Collaboration between traditional gaming studios and Web3 startups will increase, potentially driving mainstream adoption. The challenge is to make blockchain integration easier for developers and gamers. A groundbreaking Web3 title could be the key to broader adoption. (link)

Sky Mavis, the company behind "Axie Infinity," is launching a new video game called "Apeiron" on the Ronin blockchain to expand its ecosystem. The move aims to strengthen web3 gaming within the Ronin community. "Apeiron" is a card-battler game with a demo available on the Epic Game Store and a global mobile release expected in early 2024.(link)

Merit Circle DAO is partnering with Immutable's zkEVM network to make its Sphere NFT marketplace and tech stack compatible, expanding digital ownership in gaming. Immutable's tools will be integrated into Beam's offerings. The collaboration includes exploring investments in Immutable-powered games and studios while continuing support for Avalanche. (link)

NFTs

Reebok, owned by Adidas, is teaming up with Futureverse to create AI- and blockchain-backed games and digital experiences for the metaverse. They aim to bring Reebok's brand into virtual realms and develop digital wearables linked to NFTs. Their first project, "Reebok Impact," is set to launch in 2024, offering an immersive digital shoe experience. Futureverse seeks to establish an open metaverse for digital assets. (link)

NFT trading volume : The NFT market has seen a trading surge, with Blur NFT marketplace dominating almost 80% of the market's trading volume, while OpenSea's share has dropped to 17%. Solana-based NFT markets, especially Tensor, have also experienced increased trading volumes.(link)

Sotheby's digital art arm is auctioning pieces from the BitcoinShrooms collection, an NFT project by artist Shroomtoshi. The collection features over 200 pieces inspired by Bitcoin's history, with expected bids of $20,000 to $30,000 per piece. The auction runs from December 6 to December 13, and bids can be made in cryptocurrency. (link)

Megadeth : Thrash-metal band Megadeth has introduced a 5,000-piece NFT collection featuring their digital mascot, Vic Rattlehead. Fans can access exclusive content and physical metaverse experiences, including one-on-one conversations with band members. The initiative has garnered a positive response, highlighting the intersection of heavy metal and Web3 technology. (link)

USM : Businesses are using tokenized tickets as NFTs and tokens in the USM ecosystem to enhance fan experiences at events. Blockchain technology ensures authenticity and security while preventing duplicate ticket resale. Fans can enjoy unique activities, including converting tickets into NFTs and participating in various events. Blockchain also helps monitor ticket transactions and revenue distribution fairly. (link)

DeFi

Kamino Finance : Solana's Kamino Finance is launching a points program, possibly leading to a future token airdrop. While details are undisclosed, it's expected to reward users and impact future airdrop allocations. Kamino Finance offers DeFi vault products and has seen its total value locked (TVL) grow by 257% in a month, reaching nearly $50 million. (link)

Ledn : Crypto lending company Ledn is offering crypto-backed loans where assets remain custodied with qualified custodians. This approach aims to reduce risks and provide customers with a secure lending solution. Previously, Ledn primarily offered standard loans backed by Bitcoin collateral. (link)

DeFi is at a crossroads, facing two potential futures. In one scenario, it operates independently without adopting regulatory rules from traditional finance, leading to increased regulation and limited growth. In the other scenario, DeFi incorporates some regulations to coexist with traditional finance and offer better solutions to consumers, potentially fulfilling its promise of broader access and better value. (link)

Matcha : Ethereum DEX Matcha introduces cross-chain swaps, simplifying token trading between various Ethereum-compatible networks. This feature streamlines the process and eliminates the complexity of moving assets across chains. It supports seven networks, offering a more efficient solution for crypto traders. (link)

Folks Finance : European DeFi platform Folks Finance has listed tokenized gold and silver on its platform. These tokens, GOLD and SILVER, are backed by physical gold and silver, making them the first to bring traditional financial assets into the DeFi space. This move aims to bridge conventional finance with decentralized finance, enabling DeFi loans and trades with real gold and silver. It is expected to attract new users and traditional financial sector investors, given the growing real-world asset market. (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!