Web3 Weekly #6

Originally posted here.
By: Lauma

Overview

We continue with reading the news of the week instead of you, so you can focus on your own NFT collection and Web3 experience, and still be aware of everything important in the world of Web3 and crypto! What’s new this week? Let’s dive in!  Market Updates and Conditions  The Bitcoin situation seems to be […]

The Post

We continue with reading the news of the week instead of you, so you can focus on your own NFT collection and Web3 experience, and still be aware of everything important in the world of Web3 and crypto! What’s new this week? Let’s dive in!

Market Updates and Conditions

The Bitcoin situation seems to be quite rough, as its price has fallen from 19,999.08 USD to 19,444.81 at its highest on the day this article was written, September 23. Even if it doesn’t sound like that big of a difference, you can see in the graph that it’s been quite jumpy for the last week with an inclination to decrease.

Similarly bearish sight appears to be with the Ethereum price, which was 1.350,49 USD at its highest price compared to $1,465.55 on September 16.

As you can see in the graph, the highest price of AR on September 23 was 10.36 USD, which is a tiny little bit better than a week ago, when it was as low as 9.76 USD in the morning, and 10.28 USD at it’s highest. Market for Arweave seems to be pretty stable for the last 7 days.

What’s Happening in Web3?

Mailchain Goes On With Being The First Web3 Email Service

Previous week we covered that Web3 email is here – and, yes, it’s decentralised and safe. This week MarTechSeries also writes about the topic , describing MailChain as the new communication layer for Web3, or, in other words, the first secure, multi-wallet email solution. Using Mailchain’s Web3 inbox, users can now send and receive messages using their blockchain addresses, in a similar way to sending emails. In the mentioned article, they claim that this is a significantly great solution to the problem of Web3, where core technologies like blockchains and smart contracts are well into maturity, whereas Web3 communication is still in its infancy. Users cannot easily send and receive messages from their blockchain identities, and Mailchain solves this problem with multi-wallet device.

Why Decentralisation Works?

Remember Randi Zuckerberg’s visions of Web2.7, we covered previous week? Here’s an answer from Cointelegraph , why decentralisation is the key. Cointelegraph’s editor-in-chief Kristina Cornèr moderated a panel that discussed what decentralisation brings to Web3 at the DeData Salon 2022 conference held in Berlin. According to a panel discussion, where several Web3 entrepreneurs and other experts, participated,  ‘decentralisation will still help escape a potential dystopian future’.

How come? Here are main points from the article covering the conference:

Decentralisation is imperfect when it comes to the technological side of things. However, the Web3 executive believes that it is already working in terms of governance and cited decentralised autonomous organizations (DAOs) as an example.

Hoon Kim equates decentralisation with the word “freedom,” but despite this, the executive believes that there should be a balance between centralisation and decentralisation in Web3. He would pick a split between decentralisation and centralisation, giving a 30% to 70% split in favour of centralisation, so being on pretty much the same page with previously quoted Zuckerberg.

In the words of Matt Gurbiel, decentralisation is a way to avoid a dystopian future controlled solely by corporations.

Main theme, however, was data ownership in the Web3 economy. And Riccardo Lamanna, the founder of OpenQ, concluded that decentralised data ownership can prevent data breaches like the Cambridge Analytica incident where user data was exploited.

Another Web3 related conference is coming to Ibiza. The second edition of the Ibiza NXT Web3 conference is set to rock one of Spain’s most known party islands, Ibiza, this October, NFT Evening informs . The conference runs from the weekend of the 13th to the 15th of October, powered by the Ibiza Token. You can purchase tickets for one day, or the full weekend. Ibiza NXT is a 3-day event featuring panel discussions, workshops, digital art exhibitions, and networking opportunities.

New Launches of The Week

As there are new Web3 start-ups, services, devices and tools launched all the time, let’s keep them together in one segment, starting this week, all right?

Find Your Soulmate With NFT

And let’s start with meeting other people and maybe even a significant one? Forget about Tinder, Bumble and other apps that purely focus on looks, Web3 has an alternative for those more interested in inner beauty of wonderful people! NYX Soulmate launches for Web3 and utilises a proprietary A.I. and hard science to match users based on who they are, not how they look. How does it work? As release in GlobeNewsWire says, each Soul NFT contains biodata that the AI uses to suggest compatible matches. The platform also rewards participants when they choose to interact socially.

Japanese Investment Banking Giant Launches Crypto Unit To Invest In Web3

Japanese investment company Nomura has announced the launch of its crypto venture unit, Laser Digital. As the press statement published on the company’s website on Wednesday, September 21:

Laser Digital will provide new value in the area of digital assets to our clients. Switzerland was selected as the location for the new entity given it is an established destination with a robust regulatory regime for digital assets and blockchain projects, and an attractive talent pool.’

The new crypto venture capital unit will be dedicated to investing in DeFi, CeFi, Web3 and blockchain infrastructure.

Coinbase Cloud Launches Node To Simplify Web3 Development

Coinbase launches a new Web3 development platform to drive the development of gaming, decentralised finance, and non-fungible tokens, BeInCrypto informs . The new technology that is base of the platform is called Node. Node makes it easy to successfully configure and launch a blockchain node, amongst other things, and is created to make developers’ lives much easier. Depending on the context, a technology stack is a suite of tools like programming languages, a database, a set of programming languages, frontend tools, and backend tools that a company uses as a foundation for building applications.

NFT News

How Is Ethereum Doing After The Merge?

Well, the first NFT mint and sale happened just right after the merge. As Cointelegraph describes this significant moment:

The Merge happened, and now the community watches like proud parents as Ethereum takes its first steps as a proof-of-stake consensus.

The NFT, which is a time capsule of the moment of the first NFT mint bearing the iconic panda face, was quickly purchased at the price of 36 Ether (ETH).

gm. (good merge)

We did it.

We’re officially the first ever NFT Collection to mint on the PoS era of Ethereumhttps://t.co/im8MeuuRtN pic.twitter.com/cpynqaDxwA

— BLOOM. (@bloomdotxyz) September 15, 2022

Also, soon the Ethereum’s final PoW (Proof-of-Work) block got minted a week ago, Decrypt informs on the same day. Which means, that thanks to an NFT project called VanityBlocks, anyone can own the final piece of Ethereum’s history as a proof-of-work blockchain. This costed 30 Ethereum (roughly $50,000) to the NFT’s creators.

This ACTUALLY happened!

Someone filled the final PoW block by minting a VanityBlock NFT!

They paid 30.2 ETH with a 1.3 ETH TX fee for the privilege of capping out the 30 million gas limit and creating the final transaction!

Legendhttps://t.co/xCoMyJMTyv https://t.co/w2RiIprQoh pic.twitter.com/GmyF6ImlDP

— DeFiyst (@DeFiyst) September 15, 2022

Fortnite Creator’s Launches First NFT Game – Blankos Block Party

Some gamer news again – Mythical Games’ Blankos Block Party is now available on the Epic Games marketplace, and it is claimed to have more than a million players already! This is the first (NFT)-powered Web3 game by Fortnite creator Epic Games, being co-developed by Mythical Games and Third Kind Games. Blankos Block Party is a free-to-play multiplayer party game centered around unique collectible digital vinyl toys called Blankos, non-fungible tokens that can be bought, upgraded and sold within the game, as reported on Coindesk .

Scorpion Yachts Will Trade Ownerships In NFTs

Fancy a yacht to have delightful joyous trips to Ibiza or St Tropez but have no cash, only NFTs? No problem, buddy! Scorpion Yachts will be the world’s first to convert half of its charter fleet totaling 8 million in Miami, The Hamptons, Ibiza, Mallorca and St Tropez to co-owner Non-Fungible Token-NFT based on smart contract technology on the blockchain with an annual fixed return. Scorpion Yachts NFTs are freely tradable at all times on the secondary market such as www.opensea.io and you can read more on this in PRNewswire . If you scroll up to Web3 news, then you can plan your next trip to Ibiza NXT Web3 conference with your NFT yacht!

New Protocol to Rank NFT Rarity in OpenSea

Speaking of OpenSea and taste for luxury, OpenSea implements a new protocol that ranks NFT rarity, as a result of The OpenRarity project which was a collaborative project between various NFT community entities, including Curio, icy.tools, OpenSea and Proof, Cointelegraph writes . The new protocol will be helpful for those collectors looking for real NFT gems. How it will work? With a transparent mathematical approach, the article says. Rare NFTs will be awarded lower numbers like 1 or 2, while NFTs that have attributes similar to many other NFTs will have higher numbers.

KuCoin Labs Incubates NFT Liquidity Solution BidShop.io

Another significant step towards improving Web3 and NFT ecosystem’s enrichment, is NFT liquidity solution BidShop.io, which is a co-incubation of KuCoin Labs with Republic Capital. The startup creates additional liquidity streams for NFT holders. The head of KuCoin Labs, Lou Yu, calls this:

The true gamification of the NFT space, adding more liquidity and providing more people with a chance of acquiring NFTs with true value.

Read more on Businesswire .

First NFT Vending Machine!

After all these yachts and exclusive rarity NFTs, let’s finish this weeks issue with some more low-key news – Atlas Vending launches first NFT vending machine, The Star informs . The first vending machine provider to dispense NFTs in Malaysia has done it to commemorate Malaysia Day. There will be 13 vending machines available from now until Dec 16, 2022, and each vending machine contains a total of 300 rare NFT artworks, out of which 50 of them are rare platinum NFTs which will be dispensed randomly. Well, this is what I call approachability!

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