Today’s Web3 headlines feature some of the biggest names making waves in the world of blockchain. From Coca-Cola to Vogue Business, Hershey’s to Goldman Sachs, the space continues to evolve and nurture more projects.
Other noteworthy developments in Web3 include entities such as Cult&Rain, Gary Vaynerchuck, La Liga, FIFA, Epic Games Store, and Magic Eden, among others. Furthermore, world governments, financial institutions, and regulating bodies are starting to delve deeper into blockchain technology and its offerings as well.
Most importantly, our curated news for today will also cover Web3 gaming projects such as Edenbrawl, Galaxy Fight Club, Sparkadia, Planet Mojo, and ev.io, among others.
Here are the stories that shape Web3.
- Beverage giant Coca-Cola has teamed up with cryptocurrency exchange Crypto.com to launch its World Cup-inspired “Piece of Magic” Non-Fungible Token (NFT) collection. The project is produced by Coca-Cola and digital artist GMUNK. Basically, they tracked the football players’ movements via “heatmaps” and use them in creating the NFTs (CP).
- MOBA/PvP game Galaxy Fight Club has announced an upcoming free NFT airdrop. The giveaway is part of the project’s partnership with YouTube personality Gary Vaynerchuck’s digital art collection VeeFriends. Holders of the “Mint Mink” character (a collaborative release from GFC and VeeFriends), are qualified to receive a free airdrop (TW).
- Web3-dedicated fashion brand Cult & Rain founder George Yang has been selected by fashion industry publication Vogue Business’ top 100 innovators. According to the Vogue team, the list included “changemakers” who are “challenging the meaning of success” in the field (TW).
- Metaverse builder LandVault teamed up with the Indian and Philippine arm of popular chocolate company Hershey’s. On the 5th of December, the collaborative project went live on metaverse platform Decentraland. The immersive experience offers users the chance to explore virtual shops, complete quests and earn rewards, among others (ITP).
- Premier Spanish soccer league La Liga will start using blockchain technology to certify balls used to score goals. The institution has partnered with third-party company Gol-Ball to implement the new system after the 2022 World Cup. Additionally, Gol-Ball also hinted at the possibility of launching virtual versions of the certified soccer balls, since La Liga is already a partner of NFT maker Dapper Labs (BTC).
- Sparkadia, a gaming ecosystem from veterans of Riot, Bungie, and Blizzard, announced the launch of brawler/MOBA (“mobrawler”) title Edenbrawl on the Epic Games Store. The team is looking forward to utilizing the platform to onboard more Web2 gamers to Web3 (TW).
- Jesper Lindquist, senior manager for Web3 gaming at Animoca Brands, is one of the jury for Polkastarter’s GAM3 Awards. Animoca has become one of the major movers in the space this year. Despite weak market conditions, 2022 saw several blockchain projects gaining massive backing from the Hong Kong-based game software and venture capital company (TW).
- Gaming-optimized blockchain Oasys has completed a strategic funding round. Investors that pledged support for the project include gaming and blockchain-focused venture capital firm Galaxy Interactive and South Korean gaming giant Nexon (makers of MapleStory and Dungeon Fighter Online), to name a few. The company plans to use the funds to bolster the Oasys ecosystem (MB).
- Upcoming sci-fi strategy game Planet Mojo launched its first “2022 Charity Smackdown Tournament.” The event will feature some of Web3’s “best players and creators” including Ready Player DAO co-founder Rich Cabrera, who will be playing for nonprofit organization One Tree Planted (TW).
- Decentralized finance (DeFi) lending protocol Aave’s Web3-based social media platform Lens Protocol has acquired NFT mobile game Sonar. Essentially, users of the app can pilot NFT-linked avatars in the metaverse. According to a press release, Sonar has 20,000 monthly active users and thousands of NFT owners (CD).
- Futuristic first-person shooter (FPS) game ev.io is now available on mobile for both Android and iOS operating systems. Currently, users can only play the game when accessed through its browser application. Moreover, users can also tilt the device to enable landscape mode (BZ).
- Solana-based NFT marketplace Magic Eden has announced the start of its “Magic Mint” freezing period. Basically, 800 gift boxes will be frozen starting on December 5, and will run for the next 5 days (for a total of 4,800 boxes). As soon as the boxes are frozen, their images will be updated. They will also be delisted and will become untradeable using the Open Creator Protocol (TW).
- Genesis of Realm (GOR) is slated to launch on December 15 on NFT marketplace Magic Eden. GOR is a storytelling project that consists of 5,555 digital collectibles. The collection aims to provide immersive Web3 experiences for holders, using “Play-to-Earn (P2E) and Watch-to-Earn concepts” (TW).
- The Republic of Malta’s financial regulator the Malta Financial Services Authority (MFSA) is assessing calls to revise the “regulatory treatment” of NFTs. Currently, the existing regulatory framework classifies NFTs under Virtual Financial Assets, along with other distributed ledger technology (DLT)-based financial instruments. The MFSA’s proposal requests for the removal of NFTs from the said framework (CD).
- Saudi Arabia’s King Abdulaziz Center for World Culture (also known as Ithra) is holding an NFT art exhibition at the FIFA World Cup in Doha, Qatar. The show will run until December 23. Titled “From Strike to Stroke,” the project features 64 NFTs by 32 artists from competing nations. Furthermore, the collection will also employ artificial intelligence (AI) technology to create the pieces (PRN).
Into the Metaverse
- “Metaverse” has finished second in the race for Oxford University Press’ 2022 word of the year. The award goes to “goblin mode,” which only became viral in February. According to Oxford however, the usage of the word “metaverse” has “increased almost fourfold from the previous year in the Oxford Corpus” (CT).
- Indonesia’s central bank (BI) governor Perry Warjiyo revealed that people will be able to use the planned digital Rupiah currency to buy products in the metaverse. Apparently, the digital version of the country’s fiat money will use a Web3 platform that is compatible with other central banks’ digital currencies (R).
- South Korea’s Ministry of Science and ICT (MSIT) has unveiled a metaverse strategy. This initiative will guide the country in its plans to venture into virtual territory. “The Ministry will ensure to implement the diverse support strategies faithfully so that South Korea can become a leading global metaverse country,” said Head of MSIT Lim Hyesook (CG).
- In a bid to expand its exposure to digital assets, the Union Bank of the Philippines has partnered with bank-grade custody provider Hex Trust. As a result, the multi-awarded bank will benefit from Hex’s digital asset custody offerings as they build their presence in Web3. “The metaverse can create many opportunities for Filipinos to connect with the global community,” UnionBank’s chief technology and operations officer Henry Aguda said (FN).
Around the Blockchain
- Former Ethereum mining firm Hive Blockchain has shifted its focus to renewable Bitcoin ($BTC) mining. The pivot is due to the mid-September Ethereum Merge – a change that slashed 40% of the company’s revenue. To compensate for the losses, Hive is now repurposing its facilities for $BTC mining, along with plans to expand its capacity in 2023 (BIC).
- Video game retail chain GameStop has laid off another wave of employees including engineers dedicated to its Web3 initiatives. According to various sources, GameStop’s crypto wallet team was hit harder than other sectors (DC).
- Blockchain settlement platform Fnality and financial technology (FinTech) firm HQLAᵡ. Using the company’s collateral management solution, HQLAᵡ tested a repo transaction with investment bank and financial services companies Banco Santander, Goldman Sachs, and UBS (LI).
- In other related news, Goldman Sachs plans to spend tens of millions of dollars to acquire crypto firms at a bargain. Uncertainties are still looming in the air following the monumental collapse of crypto exchange FTX. With valuations taking a plunge, and investor interest at an all-time low, Goldman sees some buying opportunities in the Web3 market (R).
Stay up to Date
Subscribe to our newsletter: Web3 Gaming News and Research