of France prepare your strategy metaverse; Elon Musk win I tweet; DOGE flies away; Google pass the second with Ethereum; of royalties IN NFT pay big but irritated… Back tocrypto news of the week.
I tweetan emblematic company of Web2, is it soluble in Web3 ? Under the direction ofElon Muskthe company can highlight her turn towards these technologies, more broadly Features of NFT. After there was refused to ratify its receipt of the social network, the capricious leader finally took control of Twitter.
The billionaire has never hidden his interest in Web3, even though it sometimes blows it was hot and coldas with me Bitcoin. Therefore Musk is the new owner of Twitterand this forgivesfinancial support from several companies which Binancewhich Changpeng Zhao, the founder of the crypto exchange, did not fail to remember.
Dogecoin (DOGE) increases after purchase
For investors, the effect of this operation was predicted through DOGE price increase. The value of Tesla and SpaceX CEO’s favorite token has more than doubled after redemption, recording a profit greater than 100% over 7 days.
Muskwhich is not hidden his support ABOUT Dogecoinin the past it has already affected the price of the token Many times. DOGE’s capitalization today flirts with 17 billion dollars. A number of investors hope that the same angle will soon be integrated into the social network.
NFT: hen that lays the golden eggs that flaps its wings
The launch of international brands in the market for NFT it’s not just for them the opportunity to immerse themselves in Web3. This is also an opportunity to add a new line of income on their balance sheet. Nike performs very well in this regard. Primary sales are also not the main source of income. owing to royalties applied to secondary salesaveraging 6.96% for Nike, the company provides a comfortable income.
Crypto-native players like Yuga Laboratories are also a resounding success. Galaxy Digital believes that the publisher has created over 140 million dollars of recipes through its various collections including Bored Ape Yacht Club. And again, these are royalties which are the most profitable. But in an NFT market that is suffering from bear market, this charge imposed on the markets seems to be less and less accepted. of zero royalty model advances and moves the lines. LooksRare therefore decided to make this payment optionalwhile (partially?) making up for the shortfall for creators through a different revenue sharing model.
Metaverse: France must look beyond the Meta tree
Minister for Digital Transition recently announced that the government would consider regulating NFTs and Challenges. But he also thinks about his strategy metaverse. In this context, he commissioned a report from a trio of authors. They presented their conclusions and recommendations for an effective metaverse strategy.
And the authors of warn against a distorted view of what the concept of the metaverse coversheld in particular by Meta, which bet billions of dollars and revealed this week a the metaverse startup accelerator with l’Oréal. They believe that France has strong points to highlight to stand out in this sector and in the two main areas of virtual/augmented reality AND Web3/blockchain/NFT. These two ecosystems, quite close today, can be joined and involved in concrete and large projects. And why not with the Paris 2024 Olympics?
Bear effect for a16z, Blockchain.com and Exclusive
Crypto winter it has been affecting the industry for several months. This affects the capitalization of cryptocurrencies, but also the amount of fundraising and company valuations. exclusive hoped to collect 10 million euros. At last he received half of this envelope, viz 5 million euros.
The effects of bear market spares no actor. Thus, the assessment of Blockchain.comworth $14 billion last spring, it could drop to $3 billion as part of a new fundraiser. On the side ofa16z, if there are deep pockets, the balance of 2022 has fallen significantly in terms of valuation. The venture capital firm’s leading crypto fund charges a drop of nearly 50% in its value in the first half of the year.
Google Cloud: from Coinbase to Ethereum… to start
According to a16z, crypto can “break” Gafam’s power. In terms of capitalization, the Web 2.0 giants still largely dominate. But Web3 nevertheless interests these players because of its growth potential. Therefore, establishing yourself as a privileged technology partner is not necessarily a bad calculation. It is the policy of Google who, through its Cloud subsidiary, joined forces with Coinbase.
With AWS and Microsoft, GCP is one of the dominant platforms in the public cloud market. Therefore Google withdraws a dedicated offer decentralized application developers for the network Ethereum. With its managed Blockchain Node Engine service, Google wants to simplify infrastructure management for them to allow them to focus on their core business and their users.
Also not to be missed:
Every Sunday morning Coins.co.uka look back at the week’s top stories with “ Crypto Summary “.