TLDR;
Top News in Web3 Today — 09/051.
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@Binance to Auto-Convert StableCoin to BUSD
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Russia In Talks Of Legalizing Crypto Payments
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@LGUS TVs To Integrate NFTs for users to trade and display
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@MetaverseMagna Raised 3.2 Million To Build African Gaming Community
1. Binance to Auto-Convert USDC, USDP, TUSD to BUSD (Binance USD)#Binance begins to move toward having its own stablecoin (BUSD) to be the primary stable coin for all of its users. Business of Apps estimates that Binance has 28.6 million users as of October 2021.
All other forms of stablecoins will be automatically converted to their stablecoin. This prompts questions of what and how Binance is thinking crypto regulation will be moving forward in the future. They most likely feel the most secure using their own stablecoins for both business and regulatory reasons.
I personally am not surprised about this news but am questioning what this means for large #USDC providers and other chances with their own stablecoins.
Source: https://lnkd.in/egAGdu5P
2. Russia In Talks Of Legalizing Cross-Border Crypto TransactionsDeputy Finance Minister Alexei Moiseev said in a TV interview that crypto must be legalized in cross-border payments. Russia is now creating a regulatory framework to allow for crypto to be used as #payments.
This comes with the Central bank rethinking the approach they have to crypto. They understand that the “#crypto wave” is bound to happen and are now prepping themselves for the likelihood of mass adoption of crypto.
Source:https://lnkd.in/eAX2tc_F
3. LG Electronics TVs To Integrate NFTs for users to buy, sell, displayIf you own an #LG smart TV in the US, you can access LG Art Labs. This new NFT platform allows users to trade and display their own #NFT.
LG is positioning its product for art enthusiasts with an opportunity to trade digital art.
This is a move towards targeting one of the primary use cases of the blockchain, owning digital assets.
LG will launch its NFT platform on the #Hedera Network. Hedera’s Twitter states, “Hedera is the most used, sustainable, enterprise-grade public network for the decentralized economy.“
I am personally excited about the launch as it notes another user-facing public company onto web3. The ball is rolling…
Source:https://lnkd.in/eU4sSkYY
4. Metaverse Magna Raised 3.2 Million To Build African Gaming CommunityAfrica has become a large #opportunity for blockchain gaming due to its country’s demographics.
#Africa has a large unemployed population with a mobile gaming penetration of 95%.
This notes a positive drop in a sea of negativity. Many people have lost faith in #play-to-earn due to its unsustainability.
Magna is betting on thriving digital game economies. Time will tell if this is to come true. I believe it will but not how we know it today.
Source: https://lnkd.in/eW-YB5fR
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Hi! I am @0xjrp, a 22-year-old Latino building, investing, and learning in the web3 space.
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