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MasterCard to accept cryptocurrency payments using USDC settlements
Immersve, the Web3 payment protocol, has joined forces with global payments leader Mastercard to enable users to make cryptocurrency payments across various digital, physical, and metaverse platforms. With this partnership, users can easily make real-time crypto transactions on any outlet accepting Mastercard payments online. Upon successfully completing the transaction, Immersve will convert the USDC tokens, backed by the United States dollar and issued by Circle, to fiat to settle the transaction on the Mastercard network. This innovative collaboration will leverage decentralized protocols and enable users to make direct crypto payments from their existing Web3 wallets without the need for third-party collateral. Immersve will work with a third-party settlement provider to allow users to use USDC for all purchases.
The new CEO of YouTube is a Web3-friendly executive
YouTube's new CEO Neal Mohan recently emphasized that NFTs could be an important tool for the platform's content creators to develop additional revenue streams.
This New NBA App Update is Going to Let You Digitally Possess a Live Player
The NBA app is about to introduce a feature allowing fans to insert themselves into live games and take on the appearance of their favourite players. Though it may sound odd, the technology behind it is fascinating. Using your smartphone camera and walking around the person you want to scan, you can pick the player you want to become from a menu, and your scan will then be superimposed onto their movements on the court. This incredible feature, recently demonstrated on stage by NBA Commissioner Adam Silver and Ahmad Rashad, will add an entirely new level of immersion to the NBA app experience.
The next NFTs from Yuga Labs will be inscribed in the Bitcoin blockchain.
Yuga Labs, one of the largest non-fungible token (NFT) companies, is set to launch a new collection of NFTs on the Bitcoin-based Ordinals protocol. The protocol has gained popularity since its launch last month, and Yuga Labs plans to capitalize on the Bitcoin NFT wave with its new collection called TwelveFold. The collection will feature 300 generative art NFTs, with 3D elements and hand-drawn features, placed on a 12x12 grid. According to Yuga Labs, this grid serves as a visual representation of the cartography of data on the Bitcoin blockchain. However, the company clarified that the new collection has no affiliation with its Ethereum-based collections, including the successful Bored Ape Yacht Club.
Valentino Enters the Metaverse Through an Exciting Partnership with UNXD
Valentino has joined the metaverse trend as the latest fashion house to explore this digital realm. The Italian brand has recently announced a partnership with UNXD, a luxury Web3 platform, which signals a new chapter for the brand's evolution.
Through this collaboration, Valentino aims to extend its creative vision into the virtual world while preserving its identity. UNXD's innovative approach will enable the creation of virtual fashion, incorporating real-life craftsmanship and interactive community experiences. The partnership promises to deliver unique events, launches, and stories that blur the line between the physical and digital while staying true to the spirit of the Valentino brand.
Coinbase Unveils Its Layer 2 'Base'
Coinbase announced that Optimism will power its upcoming "Base" project and that the two organizations will collaborate on open-source development of the OP stack. On 23 February 2023, Coinbase, a leading digital currency exchange, made waves by announcing the testnet launch of Base - an Ethereum Layer 2 (L2) network. This network is a safe, cost-effective, and developer-friendly solution for building decentralized applications or "dapps" on-chain.Coinbase's vision with Base is to establish onchain as the next frontier in the digital landscape and onboard over a billion users into the crypto-economy. To achieve this, Base will function both as a sanctuary for Coinbase's onchain products and an open ecosystem where anyone can participate in development.With an intense focus on harnessing the past decade's knowledge and experience in building cryptographic products, Coinbase is incubating a Base within its fold. The chain will gradually become more decentralized with time without intending to issue a new network token.Base can be accessed today at base.org to facilitate a seamless process for developers. Coinbase's vision for the future of decentralized technology appears promising and presents a world of opportunities.
UNISWAP made the next step towards making ERC20s and NFTs a cohesive ecosystem
Buy NFTs with ANY single ERC-20 token—starting today! Don’t have enough $ETH? No problem. Use any ERC20 token in your wallet to complete your transaction without swapping to ETH first.
Kaito, an AI-powered cryptocurrency search engine, raises $5.3 million to enhance browsing via chatGPT tech
Kaito, a cryptocurrency search engine powered by AI, has secured $5.3 million in a seed funding round led by Dragonfly Capital, according to an exclusive statement shared with TechCrunch. Founder and CEO Yu Hu believes Kaito can help combat information overload, reducing search time from 30 minutes to just 10 seconds. Sequoia Capital China, Jane Street, Mirana Ventures, Folius Ventures, and Alpha Lab Capital, among others, also participated in the funding round. Hu plans to use the funds to grow the team and further develop the product while discussing potential collaborations with OpenAI, Binance, and Dragonfly for the next round.
Jump Crypto and Oasis.app 'Counter Exploits' Wormhole hacker for $225M
A little over a year ago, a brazen attack on the Wormhole bridge shook the world of cryptocurrency, resulting in one of the most significant crypto losses of 2022. The audacious heist netted a staggering 120,000 ETH, valued at $325 million at the time. Fortunately, the losses were quickly addressed by Jump Crypto, the crypto arm of Jump Trading, a reputable financial firm based in Chicago that had been instrumental in developing the Wormhole protocol. The firm's decision to reimburse the affected community members was driven by a desire to not only make them whole but also to lend support to Wormhole's ongoing development efforts, as announced in a tweet issued by the company.
It appears that Jump Crypto and Oasis, the team behind MakerDAO, have jointly executed a counter-exploit strategy against the perpetrator of the Wormhole hack, successfully recouping $140 million of the stolen funds. This bold move will likely spark debates about its ethical and legal implications in the coming weeks. However, the transparency and verifiability of Jump's actions throughout this process are beyond question, thanks to the immutable and open nature of the blockchain.In conclusion, the saga of the Wormhole hack has not only underscored the crypto ecosystem's inherent vulnerabilities but also demonstrated its stakeholders' resilience and integrity. As the industry matures and evolves, it is reassuring to witness the moral actions of firms like Jump Crypto, whose commitment to their clients and the broader community remains unshakable.
TikTok is integrated into the Web3 music streaming platform Audius.
Audius, the innovative Web3 music streaming platform, has exciting news to share with NFT music enthusiasts. The company has announced that it is expanding its reach by integrating with the viral social media platform TikTok. This development means new users can now effortlessly create Audius accounts by linking their TikTok profiles. The integration allows for a seamless transition as listeners can automatically import their handle and personal details and even retain their TikTok verification status on Audius. This integration between the two platforms will undoubtedly enrich the music experience for users, providing an even more accessible and user-friendly approach to discovering and enjoying great music.
The Royalty Wars: Blurring fee lines.
A great article by Joel John and Siddharth delved into the intriguing world of NFT royalties and discovered that they tend to hit rock bottom.
NFT markets, as they exist today, can be likened to the early days of the internet before the emergence of Google. To invest, track, and manage your portfolio, you must navigate through a myriad of applications. And if you have assets spread out across different chains, you'll need to juggle multiple wallets to keep everything in check.
Blur Surpassed OpenSea in Daily NFT Trading Volume
According to the data analytics platform Nansen.ai, on Wednesday, 15 February, the non-fungible token (NFT) marketplace Blur surpassed OpenSea in daily Ethereum trading volume. This event marks a significant milestone in the competition between the two NFT marketplaces. Blur's steady rise over the past month has been attributed to the release of its native token (and Airdrop). Blur more than quadrupled its daily trading volume the day before the takeover, according to a Dune dashboard created by data scientist Hildebert Moulié. Nansen reports that Blur's trading volume reached 6,602 ETH on Wednesday, while OpenSea's trading volume stood at 5,649 ETH. However, a different Dune dashboard created by sealaunch.xyz posted higher daily trading volume figures for both marketplaces, showing a greater disparity between Blur and OpenSea.
ZORA removed creator fees across their entire Creator Toolkit.
This significant event is poised to trigger a seismic shift in the landscape of creator-focused protocols. The intensifying competition on fees will propel innovators to design fresh web3-native business models to remain relevant in the rapidly evolving ecosystem. This transformative wave promises to usher in unprecedented creativity and dynamism as pioneers strive to establish a foothold in this burgeoning domain.
Local News 🇦🇺
@lowly is taking @lowlylabs international 🌍
The first in-gallery and on-line live NFT auction in australia by @Oshi gallery and @RoaringAuctions
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NFTSYD - Open Edition event
Last Sunday, 26th of Feb, NDFTSYD launched its Open Edition event, a free, elevated, intimate and inclusive event to foster web3 awareness.
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Disclaimer: The information provided in this newsletter is for general informational purposes only and should not be construed as financial, investment, or other professional advice. Any reliance you place on the information provided is strictly at your own risk. The content is not intended to be a substitute for professional advice or judgment and should not be relied upon for that purpose. NFTSYD makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the newsletter or the information, products, services, or related graphics contained in the newsletter for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will NFTSYD and its contributors be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this newsletter.