There’s never a dull moment in the world of Web3 and today is no exception as various projects continue building in the space.
As the FTX debacle enters a new chapter, creators and developers on the blockchain remain unperturbed. In fact, well-known entities Epic Games, Reddit and Nvidia, as well as individuals Armin van Buuren, Scottie Pippen and Alibaba’s Joseph Tsai, continue to show their trust in Web3 technology.
Web3 platforms and companies made significant moves recently with various partnerships, fundraisers, and updates. Protocols and projects that deserve the spotlight today include Avalanche, ParaSpace, Infinite Reality, Nillion, Dragon Crypto Gaming, and Oasys, among others.
Last but not the least, the combined forces of Web3 gaming, NFTs, and the metaverse, also created some ripples in the scene. This includes Illuvium, The Legend of Aurum Draconis, Floki Inu, Life Beyond, Bored Ape Yacht Club, and many more.
Here are the most notable stories in Web3.
- The Royal Bahamas Police Force has arrested collapsed crypto exchange founder Sam Bankman-Fried. Apparently, the United States has filed criminal charges against the billionaire entrepreneur. Following US’ calls to extradite the accused CEO, the Caribbean nation immediately complied and moved in to pick up Bankam-Fried (CD).
- Popular forum site Reddit’s digital art project the “Reddit Collectible Avatars” NFT collection has hit another milestone. According to reports, users have minted over 5 million NFT avatars on the Polygon ecosystem. Moreover, the initiative also registered more than 4.25 million unique wallets (DC).
- Technology company Nvidia projected in a recent blog that 2023 could spark the start of a metaverse-driven era in the automotive industry. Nvidia is best-known as a graphics processing unit (GPU) and artificial intelligence (AI) company. Apparently, they believe that more vehicle brands will start incorporating metaverse technology into their industrial and retail operations (BTC).
- Chinese technology giant Alibaba’s co-founder Joseph Tsai recently increased his stakes in Web3 with an investment on video platform Shibuya. The project successfully raised $6.9 million in a seed funding round led by venture capital firms a16z (Andressen Horowitz) and Variant. Launched by digital artist Emily Yang, Shibuya is the first blockchain startup to receive funding from Tsai (PD).
- Following the news of legendary Chicago Bull Scottie Pippen’s presence in Web3 spread on the internet, the NBA star is now producing his own NFT collection. Dubbed the “SP33 NFT” project, the offering consists of 1,000 digital sneakers, featuring 3D animations. Additionally, users can also wear the pieces in almost all ecosystems (SN).
- AAA Web3 project Illuvium has launched the private beta version of its open world collection game Overworld. 30,000 players who were granted access prior to the release can now download the game through this link. Additionally, the team also shared a video on YouTube titled “Illuvium: Overworld Explained.” The vid aims to shed more light on the project’s offerings (TW).
- Adventure strategy game Medieval Empires’ Initial DEX Offering (IDO) for its native token $MEE is now live. The project was made possible through IDO launchpad WePad. Moreover, the sale will run from December 12-13. Basically, the token will have a total allocation of 8,888,888 $MEE. With this IDO sale, the game is aiming to raise $80,000 for its future initiatives (TW).
- Web3 game dev company Dragon Crypto Gaming has announced a full-access demo and bug bounty campaign for the upcoming fantasy RPG The Legend of Aurum Draconis. The Avalanche-based project will give away up to $5,000 and 60 NFTs, as well as full beta access to winning participants (TW).
- Polkastarter’s GAM3 Awards has officially closed the voting phase for nominated Web3 gaming projects across various categories. The team will announce the winner via livestream on December 15. Furthermore, attendees will also get the chance to win prizes, as well as watch exclusive game premiers, among others (TW).
- Animoca Brands’ subsidiary and game studio Darewise Entertainment, along with digital fashion platform Skinvaders, have recently partnered with luxury footwear brand SWEAR London. The collaboration is setting the stage for a set of digital collectibles. Dubbed the “SWEAR NFT” collection, the new offering will launch on Life Beyond. Basically, the project is a social metaverse game that combines elements of science fiction and Massively Multiplayer Online Role-Playing Game (MMORPG) (NFTG).
- Yu Suzuki, the legendary creator behind Sega titles such as Shenmue and Virtua Fighter, has brought his expertise to Web3. The veteran game designer and producer is currently the supervisor for blockchain ecosystem Oasys’ NFT project. Dubbed as “Oasyx NFTs,” the collection features 10,000 metaverse avatars created by digital artist GODTAIL (SE).
- Ethereum-built protocol ParaSpace launched a cross-margin lending platform. Essentially, the project aims to provide a solution for the increased liquidation caused by widespread NFT lending and borrowing. “For NFT finance to be usable, users need to be able to hedge their risk and have flexibility on what assets they can borrow against and on what terms,” ParaSpace founder and CEO Yubo Ruan stated (PRN).
- The staking features for Bored Ape Yacht Club’s (BAYC) native token ApeCoin ($APE) is now live. BAYC is one of the most popular blue-chip NFT collections to date. Yuga Labs, the creators of BAYC, tout $APE as a “token for culture, gaming, and commerce used to empower a decentralized community building at the forefront of Web3” (NFTN).
- Electronic dance music legend Armin Van Buuren is set to launch the “Armin’s All Access” (AAA) Web3-based community platform. Basically, the project aims to provide fans with more immersive experiences and engagements. Part of the kick-off is an NFT drop featuring Dutch digital artist Rik Oostenbroek’s artworks. Owners of the collection will be granted access to exclusive benefits such as sneak previews of upcoming tracks and interactions with the master of Trance music himself (NFTN).
Into the Metaverse
- Shiba inu-inspired cryptocurrency Floki has released a free-to-play demo of its Battle Arena NFT metaverse game “Valhalla.” Players can click here to play the game. However, users are required to connect their Metamask wallet to the Optimism Goerli Testnet before they can enjoy the game. Essentially, the project employs a turn-based strategy style of gameplay (BSCN).
- Video game company Epic Games has launched a new Web3 programming language for the metaverse. Simply called “Verse,” the system is scalable to running code and is capable of supporting billions of users. Furthermore, the open-sourced logic language can also be updated without breaking code (AIM).
- Infinite Reality, a metaverse builder for companies, unveiled plans to go public via a special purpose acquisition company (SPAC). With this set up, the entity aims to raise $128 million. Infinite Reality is currently working with prominent brands such as entertainment conglomerate Warner Bros Discovery Sports. Additionally, the company is also backed by investors such as superstar DJ Steve Aoki and NBA player Rudy Gobert, among others (VB).
Around the Blockchain
- The Avalanche blockchain recently announced a new upgrade to its network called “Banff 4.” The new improvements include reducing the bandwidth needed to operate nodes. Furthermore, the Peer List Networking System has also been optimized to allow nodes to track shared information on the protocol. A few important additions also granted validators and developers the capability to work with the upcoming cross-subnet messaging initiative (CTVP).
- Web3 company Nillion announced that it has secured $20 million in a funding round led by blockchain and digital asset-focused investment firm Distributed Global. Fundamentally, Nillion specializes in building infrastructures for non-blockchain decentralized networks. Using the funding, the entity aims to focus on developing its peer-to-peer storage and computation technology (SA).
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