The France prepare your strategy metaverse; Elon Musk acquires Twitter; DOGE fly away; Google pass the second with Ethereum; The royalties on NFT pay off big, but exasperated … Back tocryptographic news of the week.
Twitteremblematic company of Web2, it is soluble in Web3 ? Under the direction ofElon Muskthe company could accentuate his turn towards these technologies, as well NFT functionality. After refused to ratify its acquisition of the social network, the capricious leader has finally taken over the management of Twitter.
The billionaire has never made any secret of his interest in Web3, albeit at times astounding hot and coldas with Bitcoin. Moss is therefore the new owner of Twitterand this thanks to thefinancial support of various companies of which Binancethat Changpeng Zhao, the founder of the cryptocurrency exchange, did not fail to mention.
Dogecoin (DOGE) increases after acquisition
For investors, the effect of this transaction was anticipated through the increase in the price of the DOGE. Tesla and SpaceX CEO’s preferred token value has more than doubled following the redemption, registering a gain of more than 100% in 7 days.
Mossthat does not hide his support for Dogecoinhas already influenced the price of the token in the past Many times. The capitalization of the DOGE today flirts with 17 billion dollars. A number of investors are hoping that the same angle it will soon be integrated into the social network.
NFT: golden egg flapping hen
The launch of international brands on the market for NFT it is not just for them the opportunity to dive into the Web3. This is also an opportunity to add a new line of income on their balance sheet. Nike it does very well in this regard. Primary sales are also not the main source of revenue. Thanks to royalties applied to secondary salesan average of 6.96% for Nike, the company guarantees a comfortable income.
Crypto-native gamers like it Yuga Labs they are also a resounding success. Galaxy Digital believes the publisher has generated over $ 140 million of recipes through its various collections including Bored Ape Yacht Club. And again, these are the royalties which are the most profitable. But in an NFT market that is suffering bear market, this tax levied on the markets seems to be less and less accepted. the zero-fee model advances and moves the lines. LooksRare has therefore decided to make this payment optionalwhile (partially?) making up for the shortage for creators through another revenue sharing model.
Metaverse: France must look beyond the Meta tree
The Minister for Digital Transition recently announced that the government would examine the regulation of NFTs and the Challenge. But also think about his strategy metaverse. In this context, he had commissioned a report from a trio of authors. They presented their conclusions and recommendations for an effective metaversic strategy.
And the authors of to warn against a distorted view of what the concept of metaverse coverscurated in particular by Meta, who bet billions of dollars and presented this week at metaverse start accelerator with the Oréal. They believe the France has strengths to highlight to stand out in this sector and in the two main areas of virtual / augmented reality and the Web3 / blockchain / NFT. These two ecosystems, now quite tight, can be brought together and involved in concrete and large-scale projects. And why not on the occasion of the 2024 Paris Olympics?
Bear effect for a16z, Blockchain.com and Exclusible
The winter of cryptocurrencies has been affecting the sector for several months. This affects the capitalizations of cryptocurrencies, but also the amount of fundraising and company valuations. Exclusive it hoped to raise 10 million euros. Eventually he received half of this envelope 5 million euros.
The effects of bear market do not spare actor. Therefore, the evaluation of Blockchain.comworth $ 14 billion last spring, it could drop to $ 3 billion as part of a new fundraiser. From the part ofa16z, if it has deep pockets, the budget in 2022 is in sharp decline in terms of valuation. The venture capital firm’s flagship crypto fund accuses it a drop of nearly 50% in its value in the first half of the year.
Google Cloud: from Coinbase to Ethereum … to get started
According to a16z, the crypto can he “breaks” the power of Gafam. In terms of capitalization, the giants of Web 2.0 still dominate largely. But Web3 still interests these players for its growth potential. Establishing yourself as a privileged technological partner is therefore not necessarily a wrong calculation. It is the policy of Google who, through its Cloud subsidiary has joined forces with Coinbase.
With AWS and Microsoft, GCP is one of the dominant platforms in the public cloud market. Google then designs an offer dedicated to decentralized application developers for the network Ethereum. With its Blockchain Node Engine managed service, Google wants to simplify infrastructure management to allow them to focus on their core business and their users.
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