#58: Fake News

Roblox rivals. Blockchain gaming. Fox partners with Polygon. 星巴克 Korea goes NFTs. Consensys launches NFT studio. MiuMiu goes Web3. Larry Fink is bullish. OKX enters Dubai. Top charts & more.

This week's obsessively curated field notes: ??

?? Top 5 Reads

• The labour of our time, and the work of our minds. By Yat Siu . Link
• Beyond the hype of real world assets. By Jasper De Maere , Outlier. Link

...more top reads

? Web3 + NFTs

Roblox Rivals????

• Nifty Island, a blockchain-based social gaming platform similar to Roblox, launched its open beta. Link
• It has partnered with some of the world’s leading NFT projects including Bored Ape Yacht Club, Azuki and more.

Why it matters: After a dismal 2023, it’s one of the promising Web3 consumer verticals, accounting for 34% of all wallet activity.

Zoom in: In the 3D game, players can complete quests, run around with friends, and build their own environments in real-time, similar to the UGC (User Generated Content) modes found in games like Roblox or Fortnite .

The big picture: Major NFT projects are all leaning hard into gaming, such as Yuga’s Dookie Dash and Otherside, Pudgy Penguins World Game , or Pixel Vault’s Reboot .

Just in November, Animoca Brands partnered with Ubisoft for Web3 gaming push.

By the numbers: The blockchain gaming market was valued at over $3 billion in 2023 and is projected to grow to between $65 to $90 billion by 2030. In 2023, more than 30% have been discontinued. 2023 witnessed a substantial surge in networks targeting Web3 gaming.

Be smart: Big platforms like Roblox or Fortnite have an incentive to

...continue reading

Fake news? ??

• Fox has launched an open-source protocol called “Verify” on Polygon to help media companies prove the origin of content. Link

Why it’s important: Consumers will be able to verify the origin of a piece of content through the protocol.

Punchline: Ensuring the authenticity of content is one of the popular Web3/AI narratives. This might be the first initiative that could make this mainstream.

More on Web3:

• Starbucks Korea launched its NFT loyalty program on Polygon. Link

... continue reading

?? Crypto & Macro

“Bigger than any government”??

• Larry Fink, CEO of Blackrock, sees Bitcoin and Ether ETF as “stepping stones” towards the broader tokenization of assets. Link
• He described Bitcoin as a store of value to protect against devaluation of currencies due to excessive deficits. Link
• Meanwhile, Franklin Templeton’s X feed is all about crypto. Link

By the numbers: Digital asset investment products saw $1.18bn inflows last week.

Punchline: The Bitcoin ETF approved last week is part of a broader sentiment shift among institutional investors and is likely just the start of what’s yet to come in 2024.

More on crypto:

• OKX gets license in Dubai. Link
• Circle partners with Bitcoin Suisse to expand USDC liquidity in Europe. Link
• Avantgarde launches platform for fully regulated and compliant on-chain funds. Link

??? Start-ups to watch

• .... continue reading