TL;DR
Twitter to develop their own crypto wallet
Crypto market reclaims $1 trillion dollars
Rishi Sunak elected British PM - what does that mean for crypto?
Reddit onboarded 2.8 million people onto Web3 - more than OpenSea
L’Oreal has partnered with Meta & HEC to launch a Web3 startup accelerator
Power-Women in Web3
New enclave for crypto millionaires - The Fyre Festival Island Becomes NFT-project
Business and Markets
Twitter to develop their own crypto wallet
Jane Manchun Wong, a blogger known for sharing early technological innovation, Tweeted the below on Monday:
Twitter has not yet confirmed or announced the product publicly, but as they have previously launched several crypto-related products and features, a wallet is not far-fetched. This would follow the footsteps of Reddit who launched their NFT vaults (basically Polygon wallets) in July 2022. Read more here.
Crypto market reclaims $1 trillion dollars
Cryptocurrencies have surged, leading to the market reclaiming $1 trillion in total market cap earlier in the week. Additionally, Bitcoin finally surpassed and maintained the $20.000 mark. As with all surges, nothing appears out of the blue. Is the US treasury behind the run? BitMex CEO Arthur Hayes weighed in, speculating that the US Treasury could be releasing short-term treasury bills to deal with impending surges.
Headwinds for the digital asset economy as Rishi Sunak becomes new British PM
As finance minister under Boris Johnson Sunak announced his plans to turn the U.K. into a crypto hub. Sunak steps into his position at a very unstable time with the British pound losing -14.7% of its value against the U.S. dollar. Millicent Labs Co-Founder Kene Ezeji-Okoye speculates that Sunak will seize the opportunity in crypto to turn this situation around, accomplishing something similar to Margaret Thatcher in the 80’s.
Innovation and Launches
Reddit onboards 2.8 million people onto Web3
Reddit launched its NFT marketplace in July 2022 selling NFT avatars to Reddit users for them to use as a profile picture on the site. Since the launch over 2.8 million people created wallets on Polygon through Reddit to purchase Avatars, this is more than OpenSea has managed to onboard in over 4 years. Reddit has over 500 million monthly active users, so there is still quite a bit to go before everyone has created a wallet, will Reddit work wonders for Web3 adoption? We wrote an article on it (in Swedish), read more here.
L’Oreal has partnered with Meta & HEC to launch a Web3 startup accelerator
While some naysayers firmly believe that the NFT and Web3 hype is fading due to the crypto crash earlier in 2022, we know they are in the wrong and the consumer goods industry continues to invest in accelerating projects. The latest in line is L’Oreal’s commitment to hammering out a head start and competitive edge in Web3. Their new incubator will hopefully boost the development of Web3 and its appliances to a new horizon. Read the full article on our Websites.
Guides and Tutorials
Power-Women in Web3
Web3 is, so far, a highly male-dominated industry with, not to say the least, high barriers to entry. In 2021, only 26% of crypto holders and 16% of all NFT artists identified themselves as females. Yet, some women are leading the industry by pushing for fem in Web3. We have listed 5 influential women we believe you must keep your eyes on. These women are; 1) Brittany Kaiser, 2) Yi He, 3) Swan Sit, 4) Alice Wexell, and 5) Laura Shin. Read more about these power-women at our Websites.
Miscellaneous & Research
New enclave for crypto millionaires - The Fyre Festival Island becomes NFT-project
The previously so infamous Fyre Festival Island will become home to “60 ultra-luxurious pavilions and villas”, strictly sold via NFTs only. The homes are expected to range from $ 1 million - $ 5 million. While this is a notable case, it is not the first time an NFT has been used to signify ownership over real estate. In fact, multiple houses have sold as NFTs even throughout the bear market. Read more here.
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