Prices of virtual lands on some of the top Metaverses have reduced significantly when compared to their peak prices of 2022, with most depreciating around 90% in value. A study published by CoinGecko shows that popular metaverse properties, such as Otherdeeds, The Sandbox, Decentraland, Somnium and Voxels, have all depreciated in value over the past year from January 1, 2022,…
The policies include a series of cash benefits to attract metaverse-related companies to set up shop in the city. Source: https://cointelegraph.com/public/index.php/news/chinese-city-releases-policy-draft-for-metaverse-industry-development
Gemini Trust Co., a cryptocurrency exchange, and bankrupt lender Genesis Global Capital have jointly filed for the dismissal of a lawsuit brought by the Securities and Exchange Commission (SEC). The lawsuit claims that their Earn product violated securities regulations by offering unregistered securities. In their legal filings, the companies contended that their Earn product, which facilitated coin lending for yield…
Bitcoin bulls are sitting on their hands but need to combat short-term sellers rapidly losing profitability, Glassnode warns. Source: https://cointelegraph.com/public/index.php/news/bitcoin-reaches-decision-point-4-btc-price-metrics-to-watch
The community of Ethereum-based decentralized finance (DeFi) protocol MakerDAO will soon vote on a proposal seeking to increase the Dai stablecoin (DAI) savings rate (DSR) to 3.33%. If it all goes through, the move is tipped to have broader implications for rates across DeFi. In a May 26 tweet, the Maker team revealed that an “upcoming Executive Vote will deploy…
The ETH balance decline began in September 2022, dropping significantly in November and December after the downfall of FTX. Source: https://cointelegraph.com/public/index.php/news/no-eth-to-trade-ethereum-exchange-balance-drops-to-a-5-year-low
Finserv giant JPMorgan Chase filed a trademark application for IndexGPT, marking its entry into the race to build a generative AI tool for business purposes. The trademark application was filed with the United States Patent and Trademark Office (USPTO) on May 11 for the characters “IndexGPT,” which according to JPMorgan, is to be used in commerce. The mark consists of…
In what seems like a parody but isn’t, Economist, gold proponent and avid crypto skeptic Peter Schiff has unveiled a collaborative nonfungible token (NFT) art collection on Bitcoin that will soon go up for auction. The reaction from the crypto community has been mixed, with people generally baffled, amused, welcoming — especially Ordinals proponents — or keen to point out…
Bitcoin decides that bad news is not bad enough as upside volatility accompanies proof that U.S. inflation remains sticky. Source: https://cointelegraph.com/public/index.php/news/bitcoin-nears-27k-despite-hot-pce-data-sparking-june-rate-hike-bets
This story comes from GG. Your Web3 Gaming Power-Up Discover GG Despite artificial intelligence buzz overshadowing the now-faded metaverse hype, Web3 developers continue to create virtual worlds, hoping to bring an experience like the “Oasis” from Ernest Cline’s influential “Ready Player One” to life. But some Web3 game creators may have tried to run before they could walk, making big…
