- OpenSea’s smart contracts used the most gas in the Ethereum network last week, with OpenSea’s Seaport smart contract burning 8.64K ETH.
- Based on last week’s data, the electrical cost of mining bitcoin is estimated to range between $13k to $16k, highly profitability issues.
- The total market cap recaptured $1 Trillion last week.
- Solana’s new daily address growth outpaces other blockchains, with active wallets up 58% since the start of the year.
THIS WEEK'S HEADLINES
🟣 Tracking Celsius
🟣 Tracking 3AC
🟣 Yuga Labs gives first look at Otherside metaverse
- Last week, Yuga Labs opened up their Otherside metaverse for 4300 players for a first look demo.
- The metaverse will open up to Otherdeed land holders only in its first phase.
🟣 ERC721i - A New NFT standard
- Charged Particles have released a new token standard for NFTs, called ERC721i.
- The new token standard allows creators to pre-mint their projects for a very low cost, allowing them to interact with their NFTs on-chain before releasing them to the public.
- ERC721i NFTs can hold other NFTs and fungible tokens inside them.
- ERC721i affords creators the ability to let people choose which NFT to buy, rather than getting a random one at mint.
- The new standard does not impact the cost of purchase for first time buyers, minting is simply replaced by transferring.
🟣 Snapchat begins testing NFTs on their platform
- NFTs will be able to be turned into AR lenses, superimposed into real-world backgrounds.
- An initial release to a test group is expected in August.
🟣 ENS collector buys Sony.eth for $72,000
- ENS domains are a type of NFT, and a human-readable crypto address.
- The collector, Sunnybae, also owns coke.eth and ipad.eth.
🔵 Minecraft's developer bans NFT integrations
- Mojang studios, the developer of Minecraft, announced that it will exclude the integration of NFTs and blockchain technology.
🟢 Dubai reveals metaverse strategy
- Following in Shanghai’s footsteps, Dubai has become the second city in two weeks to reveal a metaverse strategy.
- The strategy aims to attract 1000 blockchain and metaverse companies to the city and support over 40,000 jobs by 2030.
🟢 Web3 platforms form the Open Metaverse Alliance
- The organization was established by Alien Worlds, Animoca Brands, Dapper Labs, Space, Superworlds, The Sandbox, Upland and Voxels.
- They will form a DAO aiming to be “transparent and user-centric.”
🟡 Christie’s launch venture fund
- The well-known British art and luxury business will invest in businesses that ‘enable seamless art consumption’.
🟡 Polygon launches zkEVM
- Polygon has launched the first roll up with EVM-equivalence.
- EVM-equivalence differs from the more well known EVM compatibility in that it is significantly easier to deploy a dApp on an EVM-equivalent chain than an EVM-compatible chain.
- A dApp which exists on Ethereum’s mainnet can port over to an EVM-equivalent chain with no changes to the underlying code.
🟡 Blockchain.com lets go of 25% of its workforce
- The cryptocurrency exchange is reducing its workforce by 150 people amid poor market conditions.
🟡 ZkSync announces mainnet launch in 100 days
- The Ethereum based layer 2 solution aspires to be the first zk proof-based scaling solution for EVM smart contracts available in a live production environment upon its mainnet launch.
🟡 Zipmex suspends withdrawals
- The crypto exchange is following in Celsius’s footsteps, citing market volatility.
🟡 UK Financial Services and Markets Bill outlines rules for stablecoins
- The new rules bring stablecoins under UK payments regulation.
🟡 Gemini lays off employees, again
- Gemini is laying off 68 employees.
- The exchange already laid off 10% of its employees in June.
🟡 Curve founder hints at stablecoin
- The curve founder hinted at an over-collateralized stablecoin at the online crypto conference, Redefine Tomorrow 2022.
🟡 Former Coinbase employee arrested on insider trading charges
- Ishan Wahi repeatedly tipped his brother Nikhil Wahi and friend Sameer Ramani on new coin listings.
- The two profited at least $1.5 million in illegal trades.