17th July 2022 - Middle East

NFTs have very quickly proven to have real utility within crypto, from digital experiences and rewards to artist royalties, co-ownership of real-world assets, and more. However, the market of?NFTs has taken a turn for the worse in June 2022. It has been reported that June was the first month of under $1 billion in sales since June 2021.

Despite the dip in NFT sales, In recent weeks, companies like Gamestop, Ripple, and Coinbase have announced that they will launch their own NFT Marketplace. NFT marketplace is a platform that enables individuals to buy and sell digital artwork and other digital assets.?

The expanding applications of NFT in retail, fashion, and other industries?as well as the efforts of industry titans to make the metaverse a reality, would give NFT market providers lucrative potential.

Top news this week included DIFX introduces Futures Trading, Samsung will be producing Bitcoin mining chips, and the Colombian government launching a national land registry on the XRP ledger. Bugatti NFT sells for nearly half a million dollars, KPMG enters the metaverse and invests $30 Million on Web3 employee training & Dubai is moving part of its government offices to Metaverse.

NFTs in Focus:- White Glove Service NFT Minting by Niclas Genovese + The Voice Gem from 7th Portal by Georg Bak

Evai Crypto Ratings Review | Top 5 Gainers week commencing 11th July??

Education:-?Private Blockchains

So here's what else happened this week in Crypto

In the News

The Cardano Vasil update was successfully launched on the testnet. Developers are welcome to deploy their work on the testnet in order to confirm that integrations operate correctly when the mainnet receives the Vasil update. Cointelegraph ?

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Sepolia trial run brings the Ethereum merger one step closer. Ethereum is one step closer to "The Merge" - its long-awaited move to a proof-of-stake blockchain. Sepolia, another one of its testnets, made the switch to proof of stake and executed its own merge. Decrypt ?

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Robinhood users are able to transfer and receive Bitcoin on the platform. Robinhood, the platform that offers commission-free stock trading, has added Bitcoin transfers in and out of its retail trading software. Bitcoin Magazine ?

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PoS gives Ethereum the edge over Bitcoin, says DeFi researcher. DeFi researcher, Raman said that after the Merge, ETH inflation will drop from 4.3% to 0.22%. Cointelegraph ?

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El Salvador's Bitcoin wallet Chivo scores $52M in remittances in 2022. As expats benefited from commission-free Bitcoin payments, the Chivo App for payments in El Salvador handled $52 million in remittances during the past six months. Cointelegraph ?

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DIFX introduces Futures Trading. DIFX has released an enhanced version of its trading platform that includes a number of unique new features. Zawya ?

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VARA has granted provisional regulatory approval to GCEX in Dubai. Digital brokerage, GCEX Group is continuing its international expansion with the opening of a Dubai office. GCEX's modular platform, “Crypto in a Box”, offers a complete end-to-end trading solution. It brings in transparency and full regulatory control while ensuring that all digital assets are stored safely. HRWorld ?

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Dogecoin trading is now available on FTX Japan. The top crypto exchange stated on its website that it will start handling Dogecoin in its physical transactions (sales offices/exchanges) and perpetual transactions from Tuesday, July 5, 2022. U.Today ?

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Following the new Nothing collaboration, Polygon will enable Web3 functionality in smartphones. The first smartphone from Nothing will feature technology from the Ethereum scaling protocol. Although Polygon won't be developing its own smartphones, the collaboration hopes to spread awareness of crypto and NFTs by providing customers access to Web 3 capability. CryptoPotato ?

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Century-old bank gets approval to leverage stablecoin vault. In a vote held on Makerdao, the decentralized autonomous organization (DAO) that issues the stablecoin DAI, approved a proposal that will allow a U.S.-based bank to use Maker’s Decentralized Autonomous Organization (DAO) to secure its collateral. The proposal passed by a majority vote of more than 87%, and it will provide Huntingdon Valley Bank with the means to leverage a stablecoin vault. Bitcoin News ?

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Swiss Post Office will introduce services for cryptocurrency trading and custody by 2024. The Swiss postal service PostFinance is making it easier for customers to access cryptocurrencies. The financial services company will roll out the new services over the next few years. Tesmanian ?

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DIG, a Dubai investment firm is using NFTs to revolutionise Hollywood. The Gossamer NFT's community on social media has exhibited the most activity by far. It hit number one on OpenSea charts, surpassing NFT collections like CryptoPunks & Bored Apes Yacht Club, and made $1 Million trading in just 24 hours. Gulf Business ?

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Bitso launches the first Crypto remittance service in Colombia. Colombian users will be able to send and receive remittances using dollar-pegged stablecoins on the platform of the exchange. Bitcoin News ?

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Binance receives VASP license from the Bank of Spain. As a regulatory requirement, the Bank of Spain has reviewed Binance's operations and has verified that it is appropriately registered and in compliance. Bitcoin News ?

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Australian Baseball Club to enhance the fan experience with Lightning Network. The deal marks a new fan-tailored approach by the club as it seeks to capitalize on Bitcoin and Lightning. Bitcoin Magazine ?

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Any Arab nation could adopt Bitcoin sooner than expected, according to the Serbian Prince. According to one of the most well-known Bitcoin enthusiasts, Filip Karadjordjevic, the Hereditary Prince of Serbia and Yugoslavia, Jordan and the UAE, among many others, are expected to embrace Bitcoin. Finbold ?

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UAE to open first medical tourism hospital in Metaverse. Thumbay UAE Medical Group is the country's first hospital to provide augmented reality and virtual reality technology to long-term post-surgical patients which were scheduled to go live in October. Arabian Business ?

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Bahrain’s CoinMENA joins Visa’s Fintech Fast Track Program. The Visa Fintech Fast Track program allows CoinMENA to leverage the reach and capabilities of VisaNet to launch a host of Visa-exclusive services, including the CoinMENA VISA Card. Zawya ?

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Rootstock has been added by Multichain to its blockchain bridge ecosystem. Content: This integration will allow users to take advantage of the security and functionality offered by the RSK platform. Cointelegraph ?

Arte News:?

?Live concerts are introduced in the metaverse. There are two types of concerts, one through game-centric platforms such as Fortnite and Roblox, which seem unrealistic because they are limited by game-centric graphics, and the other type is a custom concert, with a 3D world specifically designed for that concert. NFT News Today ?

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Polygon joins Disney’s ‘accelerator program’ to develop AR, NFT, and AI experiences. One of the six businesses chosen by the media and entertainment behemoth to take part in its new initiative is the Ethereum scaling tool. Each participating firm will get direction from Disney's top leadership team as well as a committed executive mentor throughout the program. Coindesk ?

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Snapchat is considering allowing users to exhibit NFTs as filters. Creators will be able to display NFTs by using a third-party service off the platform, before transferring them to Snap. The system will ensure that each creator is credited for their work. News NCR ?

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OKX signs a deal with Man City for training shirt sponsorship. OKX has announced that it has signed a deal with English Premier League (EPL) champions Manchester City to be the team's training shirt sponsor for the 2022–23 season. According to the deal, the OKX brand will be on training clothing for both men and women through the middle of 2023. Cointelegraph ?

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GameStop Launches NFT Marketplace. The gaming company GameStop has launched a market for nonfungible tokens (NFTs), with the goal of providing low costs and quick transaction times. The marketplace gives users access to instructional materials as well as the ability to create, sell, and trade NFTs. Investing.com ?

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Ripple secures partnership to launch new NFT marketplace on the XRP Ledger. CrossTower partners with Ripple to bring XRP Ledger (XRPL) minted NFTs to the CrossTower NFT marketplace. CrossTower will help to issue and trade NFTs with Ripple acting as a blockchain partner, providing technical support for the XRP Ledger (XRPL) blockchain. Daily Hodl ?

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NFT game publisher Animoca raises $75M. Blockchain-based game publisher Animoca Brands, a major backer of the metaverse and non-fungible token (NFT) gaming, announced that it had raised $75 million at a valuation of $5.9 billion, a smaller raise than last year—but at a slightly higher valuation. DeCrypt ?

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Playboy to create a "MetaMansion" in the Metaverse. Playboy's "MetaMansion'' will include mini-games, social gatherings, planned events, and ongoing digital collectible releases, all of which will draw inspiration from the more than 70 years that the company has spent publishing. Finbold ?

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Axie Infinity NFT sales are on the rise. Axie Infinity, the Ethereum-based game which recently announced a major transition from being a play-to-earn experience to a play-and-earn model, has seen NFT sales jump 198% over the last week compared to the previous period. DeCrypt ?

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AI will help realize the true vision the Metaverse hopes to achieve. Artificial intelligence is a well-known concept that has already proven successful in various fields. It is a sci-fi concept that will help to create a mind-blowing user experience for the Metaverse, thus helping the product to become more successful. Cointelegraph ?

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NFTs become physical experiences as brands offer in-store minting. The popularity of minting NFTs at physical locations could represent the next big trend for brands entering Web3. Cointelegraph ?

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Spanish bank Santander to hold a digital awards ceremony in the Metaverse. Santander, one of the leading retail and commercial bank in Spain will host a Metaverse-based digital awards event for its "Santander X Global Challenge | Blockchain" in the Decentraland on July 14.? Finbold ?

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Lamborghini-sponsored GT racing team will validate automobile parts using NFTs. The company will be working with the NFT platform Go2NFT, where the team will develop NFT certification for their race cars with Go2NFT and the blockchain platform Skey Network. Gulf Crypto ?

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NFT and Web3 gaming console to launch in 2024. A company called Polium has announced plans to launch a gaming console that will support multiple blockchains and nonfungible tokens (NFTs). Cointelegraph ?

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Cat-themed NFT collection, driven by Egyptian mythology, reveals an ambitious plan. A new ecosystem will bring together breeding games, a secondary sales sector, postcards, and a metaverse presence. Users may also utilize ETH message cards to create nonfungible tokens with their own message, which can subsequently be transmitted to any wallet address. Cointelegraph ?

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Web3 will unite users from social media platforms, says Aave exec. Profile NFTs are a key component of the Lens Protocol, a decentralized social graph built by Aave. They intend to function as a type of Web3 headquarters, providing self-custody of data, the capacity to publish legitimate bits of information on-chain, and built-in governance capacities should users desire to establish their own DAO. Cointelegraph ?

Evai Crypto Ratings Review | Top 5 Gainers week commencing 11th July??

Crypto Oasis ecosystem partner Evai continues to identify profit-generating cryptos in the market using its unbiased rating model powered by AI and Machine Learning.??

Despite the challenging CPI Inflation announcement this week, the Evai platform was still capable of forecasting a range of impressive movements! (See Below)

DYOR extensively before commencing any trades and remember, the crypto market is highly volatile, trade with caution as prices can fluctuate up and down.*

Learn to Earn

?? Private Blockchains "try to automate and improve complex, inefficient and largely manual systems inside enterprises" (Mehta et al. 2019, 154).?

?? A company that wants to make use of blockchain technology but at the same time does not want its data to be viewable and editable by everyone will implement a private blockchain. A central governance body (such as a consortium) determines who can participate, view, and validate transactions in a private blockchain. In this context, anonymity is irrelevant, and the nodes are not equal. Instead, the focus is on privacy-preserving mechanisms.

?? Private blockchains do not require a cryptocurrency because the governance body can already set the incentives for proper behavior. Private blockchains are less decentralized and distributed but usually benefit from faster transactions, higher scalability, and can provide everyone with the information they need. Two leading technology stacks are used to implement private blockchains: Hyper ledger Fabric and R3’s Corda. Notable projects implemented using Private Blockchains are IBM Food Trust of the Swiss Cardossier.

Keep an eye out for more great educational content!

NFTs in Focus

White Glove Service NFT Minting

Bright Moments is an NFT art collective, traveling around the world minting Crypto Citizens and empowering artists through live minting events. London is the fifth city in our world tour and represents the halfway point of our membership PFP collection, the Crypto Citizens. CryptoLondoners is the fifth installment of the Bright Moments CryptoCitizens NFT collection. They are creating and minting 10,000 CryptoCitizens in 10 cities around the world.

What does this look like: After Purchasing your minting pass in a gallery you are guided up to a very elegant piano lounge. Before the process, you are then asked if you prefer champagne or tea and discuss the artist and generative art with one of the founders. To initialize the process the piano plays the algorithm of your “Crypto Londoner” and you receive a black box with a golden key. In the box, you will find your freshly minted NFT. This absolute pristine service is a very special experience for NFT nerds as well as total newcomers. Throughout the weeks there they have different minting experiences with curated artist to empower newcomers and showcase the “top shots”.?

The Voice Gem from 7th Portal by Georg Bak

During the month of July, this very special?#NFT ?by Reeps100 (Harry Yeff ) and?Trung Bao ?is for sale. Only 777 Voice Gems will be released in total. This voice gem is an algorithmic sculpture that encapsulates the original voice of IZAYUS (spoken by STAN LEE) in the 7th Portal - the first webisode on the internet from 1999. It is a story about 6 coders who are playing a game on their computer while an ominous character named IZAYUS appears and hands over a floppy disc to a beta tester named Peter Littlecloud. When he inserts the disc, he and his fellows transform into superheroes and enter the battle against Lord Mongorr in the Metaverse.?

This artwork is about the?#Metaverse , about Superheroes as the predecessors of PFPs, and about Cymatics, the scientific encryption of sound frequencies into visual patterns.

"The colors and form are directly dictated by the data found in the recording. The vintage audio and unique artifacts resulted in a bright and golden piece. A color spectrum found in no other VOICE GEM." (Harry Yeff)

"This universe we inhabit is merely one of many in the vast multiverse. Each exists in its own dimension where and time-space interact with infinite possibilities". (IZAYUS, 7th Portal Webisode 1/22). We invite everyone who shares their passion for the metaverse and cyberpunk culture to acquire this marvelous piece of art and become part of our SNOWCASH community.

That's it for this week, see you next week.