Date: 07/30/2021
“GameFi will be the popular engine of the Web 3.0 domain.” — Andre Cronje, the founder of DeFi platform Yearn.finance
Weekly News Report:
1. Yield Guild Games (YGG), a collective of play-to-earn gamers, completed its initial DEX offering via SushiSwap’s Miso platform in under a minute earlier on Tuesday. The $12.6-million initial DEX offering of play-to-earn collective Yield Guild Games sold out in just 31 seconds to just 32 participants.
2. The city of Miami is launching its own cryptocurrency in August, and city officials expect it to generate millions of dollars in revenue. Miami Mayor Francis Suarez says they are now the Bitcoin capital of the world, and they are partnering with the company CityCoins to make their cryptocurrency, which will be known as MiamiCoin.
3. Zuckerberg is turning trillion-dollar Facebook into a “metaverse” company. The metaverse offers Facebook an opportunity to draw a line between its moonshot efforts and its core business, building a wide-reaching hub that shines on augmented reality and virtual reality platforms but feels just as friendly on mobile and desktop.
4. MPC will create infinite possibilities for both game and finance. MPC successfully constructs a complete ecological closed-loop and makes it a metaverse infrastructure that uses nonfungible tokens, augmented reality, virtual reality, the Internet of Things, and other components. With the arrival of the metaverse age, Elon Simons has faith in the future of MPC and believes that the combination of game and finance is the future direction.
5. Michael Saylor defended his company’s debt-fueled, bitcoin buying spree over the last year by saying it continued to be a great investment. MicroStrategy CEO likens borrowing to buy Bitcoin to investing early in Facebook.
6. Binance’s regulatory woes worsened Friday as Malaysia ordered it to halt operations in the country. Separately, the cryptocurrency exchange said it’s planning to wind down futures and derivatives products across Europe, starting with Germany, Italy and the Netherlands.
7. Cathie Wood’s ARK invest scoops up 1.3M Robinhood shares on Nasdaq debut. The New York-based investment manager invests heavily in crypto and blockchain companies.
8. Central Bank of Ireland Governor Gabriel Makhlouf said that although the eurozone has yet to decide on a central bank digital currency, the development is “very likely” to happen. Introducing a digital euro would represent a “fundamental shift” in the eurozone’s financial architecture, Governor Gabriel Makhlouf noted.
9. Bank of Estonia finds unlimited potential in the digital Euro test. Eesti Pank found a blockchain-based solution that could support an almost unlimited number of payments being processed at the same time.
10. Axie Infinity refreshes record high as AXS ascends 131% in just 3 days. The price of Axie Infinity’s native token, AXS, more than doubled in just three days of trading amid speculation that it is going to revolutionalize the blockchain-enabled gaming industry forever.
11. Ukrainian President Volodymyr Zelensky signed into law a bill called On Payment Services that allows the country’s central bank to issue a CBDC, an announcement on the president’s official website said. In particular, the bill says the National Bank of Ukraine, the country’s central bank, can issue its own digital currency and create a testing environment for fintech startups.
12. Russia’s telecom giant MTS invests $11.7M in blockchain trade-finance service. MTS bought the share from Factorin’s parent company, venture fund Digital Horizon, which retains a 25% holding. The rest is held by the Factorin team, according to the publication.
