YOU. ME. WEB3. The Weekly Newsletter by LAB51 Inc.

?? Welcome to YOU. ME. WEB3. The weekly newsletter by LAB51. ?? Stay up-to-date with the latest updates and insights as we explore the endless possibilities of the decentralized web. ?? Join us in the exciting world of Web3 and stay up-to-date by following our page. Don't miss a beat! ??

CRYPTO & BLOCKCHAIN

COINBASE IN ACTION: THE CRYPTO GIANT FILES LEGAL CHALLENGE TO PUSH SEC TO WRITE RULES ON CRYPTO

Coinbase, one of the largest cryptocurrency exchanges in the world, has filed a legal challenge against the U.S. Securities and Exchange Commission (SEC) in response to the regulatory agency's efforts to limit its crypto offerings. The SEC has recently increased its scrutiny of the cryptocurrency industry, focusing on whether certain digital assets should be classified as securities. In its legal challenge, Coinbase seeks to prevent the SEC from classifying Lend, a cryptocurrency lending program it had planned to launch, as security. The company argues that Lend is a "crypto asset," not a security, and therefore not subject to the same regulations as traditional securities. This move by Coinbase represents a significant pushback against the SEC's regulatory efforts, which some in the cryptocurrency industry view as overly restrictive and potentially harmful to innovation. It also highlights the ongoing debate around how to regulate digital assets, which have rapidly gained popularity in recent years.

MICA’S HERE: EUROPE PAVES THE WAY FOR CRYPTO REGULATION

Europe is set to become a leader in regulating the crypto industry with the introduction of the Markets in Crypto-Assets (MiCA) proposal. The proposal aims to establish a common regulatory framework for digital assets across the EU, providing greater clarity and legal certainty for investors and businesses operating in the crypto space. MiCA includes provisions for the regulation of crypto exchanges and wallet providers, as well as measures to combat money laundering and terrorist financing. It also sets out rules for initial coin offerings (ICOs) and other forms of token sales, requiring companies to disclose information about the project, the token, and the risks associated with investing. The move by Europe to introduce MiCA is seen as a positive development for the industry, as it provides greater clarity and legitimacy for digital assets. As Europe paves the way, the industry is expected to become more transparent and trustworthy, attracting greater investment and adoption.

BITCOIN RISES, BUT ONCE AGAIN FAILS TO MAINTAIN A POSITION ABOVE $30,000

The price of Bitcoin has been volatile in recent weeks, with the digital currency struggling to hold onto a key support level. The cryptocurrency has been whipsawing traders, rising and falling in value as market sentiment remains uncertain. Bitcoin's recent price movements have been attributed to a range of factors, including increased regulatory scrutiny and concerns over the environmental impact of crypto mining. Additionally, some investors may be taking profits after Bitcoin's significant run-up in price over the past year. Despite the current volatility, many crypto enthusiasts remain optimistic about Bitcoin's long-term prospects. Some believe that the recent pullback in price could represent a buying opportunity for those looking to enter the market.

APPLE TO REMOVE THE BITCOIN WHITEPAPER FROM ITS COMPUTERS

Recently, Apple has faced backlash from the crypto community after the company removed the Bitcoin whitepaper from its Macbooks. The whitepaper, which outlines the technology and philosophy behind Bitcoin, was recently discovered hidden in MacBook’s released after 2014. The removal has raised concerns among many in the crypto community about censorship and the potential for tech companies to wield too much power over the dissemination of information. Some critics argue that Apple's decision to remove the whitepaper is an attempt to stifle innovation and prevent users from accessing information that could empower them to take control of their finances. While Apple has not provided a specific reason for removing the whitepaper, the move comes amid increased regulatory scrutiny of cryptocurrencies and concerns over the environmental impact of crypto mining. As the crypto industry continues to evolve, it remains to be seen how tech companies like Apple will navigate the complex and often contentious landscape of digital assets.

$PEPE: THE LATEST MEMECOIN TO GAIN INVESTORS’ ATTENTION

PEPE Coin, a memecoin launched earlier this year, has seen a massive surge in value over the past week, reaching an all-time high of $0.88. However, recent reports have shown that the coin's largest holder, a top bull known for his high-risk investments, also has millions invested in Shiba Inu. The surge in PEPE Coin's value is largely due to a recent NFT drop featuring the infamous frog character. The NFT sale generated millions of dollars, which drove up demand for the coin. However, traders should be cautious as the coin's value may be driven primarily by hype and speculation. Additionally, the fact that the coin's largest holder also has significant investments in Shiba Inu, another memecoin, raises questions about the long-term stability of both coins. While both have seen recent gains, they are highly volatile and carry significant risks for traders.

GOOGLE CLOUD AND POLYGON JOIN FORCES TO BOOST WEB3 ADOPTION

Polygon, one of the fastest-growing blockchain networks, has announced a new partnership with Google Cloud to accelerate its growth and adoption in the Web3 ecosystem. As part of the partnership, Google Cloud will offer infrastructure and scaling support for Polygon's growing ecosystem of decentralized applications (dapps) and other Web3 services. Polygon has become a leading player in the Web3 space, providing developers with a scalable and flexible platform for building dapps and other decentralized services. With Google Cloud's support, Polygon aims to enhance its network performance and user experience, as well as attract more developers to its ecosystem. The partnership comes at a time when Web3 adoption is rapidly increasing, with more users and developers looking for scalable and secure solutions. The collaboration between Google Cloud and Polygon is expected to fuel this growth and help drive innovation in the Web3 industry. ]

NFT

YUGA LABS TRIUMPHS: BORED APE YACHT CLUB SAILS TO VICTORY IN LANDMARK TRADEMARK LAWSUIT

Yuga Labs, the creative force behind the phenomenal Bored Ape Yacht Club (BAYC) NFT collection, has emerged victorious in a landmark trademark lawsuit. The heated legal battle against rival artist Ryder Ripps, who claimed to have trademarked the BAYC name first, has finally reached a thrilling conclusion. Yuga Labs successfully defended their rights to the BAYC brand, proving that their innovative NFT collection remains unchallenged in the rapidly evolving digital art world. This groundbreaking verdict sets a crucial precedent for the ever-expanding NFT market, reinforcing the importance of securing intellectual property rights for creators, collectors, and investors alike. As Yuga Labs celebrates this monumental win, the future of the BAYC empire shines brighter than ever. With the legal storm behind them, Yuga Labs and BAYC fans can look forward to smooth sailing and exciting new adventures on the horizon.

ROMANIA'S DIGITAL REVOLUTION: NATIONAL NFT MARKETPLACE SET TO IGNITE CREATIVE ECONOMY

Romania is on the verge of launching its very own National NFT Marketplace, a ground-breaking initiative that's set to redefine the nation's creative economy. The government-supported platform will showcase Romanian artists, musicians, and creators, providing a vibrant digital space for these talents to shine. This ambitious project aims to stimulate the local creative scene and bolster Romania's position in the thriving global NFT market. As the National NFT Marketplace prepares to go live, Romania is poised to become a hub of innovation and artistic prowess. From internationally acclaimed painters to rising digital art stars, the platform is set to feature an incredible array of talent. Romania's foray into the NFT arena reflects a broader trend of governments embracing blockchain technology and digital assets to foster economic growth and unlock new opportunities for their citizens.

RISING STARS: POLYGON, CARDANO, AND SOLANA NFT SALES SOAR AS ETHEREUM FACES A SLUMP

Polygon, Cardano, and Solana are taking the NFT world by storm, with sales skyrocketing on these platforms while Ethereum faces a surprising slump. As these emerging blockchain networks gain traction, they're offering more cost-effective and efficient alternatives for artists and collectors alike, fueling a shift in the NFT landscape. Ethereum's high gas fees and network congestion have long been a thorn in the side of NFT enthusiasts, but now it seems the tide is turning. Polygon, Cardano, and Solana's innovative solutions are attracting a surge of users, eager to explore their cutting-edge features and seamless user experience. From lightning-fast transactions to eco-friendly solutions, these platforms are setting the stage for a new era in the NFT market.

NEOBANK UNVEILS SOULBOND NFTS FOR WALLET HOLDER KYC DATA

NeoBank is set to transform the way we manage our Know Your Customer (KYC) information with the introduction of Soulbound NFTs for wallet holders. This innovative solution will securely store and verify user data, revolutionizing how financial institutions handle personal identification while enhancing privacy and security. By leveraging blockchain technology and NFTs, NeoBank is taking a bold step forward in the digital finance landscape. Soulbound NFTs provide a cutting-edge method for storing and sharing KYC data, allowing wallet holders to control their own information and share it only when necessary. This groundbreaking approach not only streamlines the verification process but also empowers users to take charge of their digital identity.

DIVINE DIGITIZATION: VATICAN LIBRARY LEAPS INTO THE FUTURE WITH BLOCKCHAIN AND NFTS

The Vatican Library is taking a monumental leap into the digital age, embracing blockchain and NFTs to preserve and share its priceless collection of ancient texts and manuscripts. This groundbreaking initiative promises to revolutionize access to the Library's vast cultural treasures while safeguarding their authenticity and longevity. As a pioneering endeavor, the Vatican Library's adoption of NFTs demonstrates the technology's incredible potential for preserving and disseminating valuable cultural heritage. By tokenizing these priceless artifacts, the Library ensures their digital counterparts are secure, tamper-proof, and globally accessible. This fusion of history and innovation allows scholars, historians, and enthusiasts alike to explore the Vatican Library's unparalleled collection in an unprecedented manner.

METAVERSE

THE SANDBOX JOINS FORCES WITH LEDGER ENTERPRISE TO FORTIFY DIGITAL DOMAINS

The Sandbox, a leading decentralized virtual world, is joining forces with Ledger Enterprise, the renowned digital asset security provider, to bring an unprecedented level of security and protection to metaverse businesses. This powerhouse partnership promises to reshape the landscape of virtual commerce and safeguard the burgeoning digital economy. As the metaverse continues to grow and evolve, the need for robust security measures becomes increasingly critical. The Sandbox and Ledger Enterprise collaboration will ensure that businesses operating within this virtual realm are well-protected, offering state-of-the-art solutions to secure digital assets and fortify virtual infrastructure. From landowners and creators to investors and gamers, the collaboration aims to provide peace of mind to all stakeholders in the metaverse ecosystem.

META SURPASSING REVENUE EXPECTATIONS AND CHARGING FULL STEAM INTO THE METAVERSE

Meta has reported mixed financial results for the first quarter of 2023. On the one hand, the company exceeded revenue expectations, with $23.7 billion in total revenue, up from $21.5 billion in the same period last year. However, Meta's Reality Labs division, which focuses on augmented and virtual reality technology, recorded a $3.9 billion loss in the first quarter. Despite this, Meta remains committed to its vision of creating a metaverse, a virtual world that users can access and interact with through virtual reality and other technologies. The loss for Reality Labs comes as the company invests heavily in developing new products and technologies for the metaverse. Meta has stated that it expects to continue investing in this area for the foreseeable future, with the goal of creating a fully-realized metaverse experience that can be accessed by users around the world. In addition to its financial results, Meta also announced a number of new partnerships and initiatives aimed at advancing its metaverse ambitions, including partnerships with major media companies and the launch of a new virtual reality headset.

COTY CAMPUS UNVEILS A DIGITAL WONDERLAND FOR COSMETICS CONNOISSEURS

Coty, the global beauty powerhouse, is making a fabulous entrance into the metaverse with the unveiling of Coty Campus, a virtual haven for cosmetics enthusiasts. This innovative digital destination is set to revolutionize the beauty landscape, offering an immersive experience for shoppers, educators, and creators alike. Coty Campus is a virtual wonderland where the world of cosmetics and technology collide. Here, visitors can explore cutting-edge beauty trends, attend virtual masterclasses, and collaborate with fellow beauty buffs in a dynamic, interactive environment. Coty's pioneering approach is set to reshape the cosmetics industry, providing a fresh platform for brands to connect with their audience and showcase their latest offerings.

ARTIFICIAL INTELLIGENCE

TIKTOK LAUNCHES NEW AVATARS CREATED BY GENERATIVE AI

TikTok has introduced a new feature called Lensa, which uses artificial intelligence to create realistic avatars based on photos of users. The new feature is part of TikTok's push to expand its presence in the realm of augmented reality and virtual reality. Users can choose from a variety of customizable features, including eye color, skin tone, and hairstyle. Lensa uses deep learning algorithms to generate a realistic 3D model of the user's face, which can then be animated and used in TikTok videos. The new feature is being seen as a way to compete with the popular avatar creator Bitmoji, which is owned by Snapchat. However, TikTok's Lensa goes beyond simply creating avatars, as it also offers a range of augmented reality filters and effects that can be applied to the avatars in real-time. TikTok's Lensa is currently available only on iOS devices, but the company has announced plans to expand the feature to Android in the near future. The new feature is expected to be a hit with TikTok's millions of users, as it allows them to express themselves in new and exciting ways, while also pushing the boundaries of what is possible with AI and AR technology.

CHATGPT CLOSER TO ENDING THE BAN IN ITALY? NEW PRIVACY SETTINGS ON THE WAY

Italy has recently agreed to lift the ban on the use of ChatGPT, the popular language model developed by OpenAI, on the condition that the company meets compliance obligations. This decision comes after months of discussions between OpenAI and the Italian government, where OpenAI has provided assurances regarding data protection and privacy concerns. ChatGPT is a powerful AI tool that has been used for various purposes, including language translation, chatbot development, and content creation. However, the Italian government had previously banned the use of the tool due to concerns over data protection and privacy. The decision to lift the ban on ChatGPT in Italy is significant for OpenAI, as it opens up new possibilities for the company to expand its operations in Europe. It also highlights the importance of compliance with data protection regulations in the development and use of AI technologies. As the use of AI continues to grow, it is crucial for companies to ensure compliance with regulations and address concerns around privacy and data protection. The lifting of the ChatGPT ban in Italy is a step in the right direction and shows that progress can be made through collaboration between governments and tech companies.

GOOGLE CREATES NEW AI DIVISION NAMED “GOOGLE DEEPMIND” TO CHALLENGE OPENAI

Google has announced the creation of a new AI division, called Google DeepMind, which aims to challenge OpenAI's dominance in the field of artificial intelligence. The new unit will be led by renowned AI researcher Demis Hassabis, who co-founded DeepMind before it was acquired by Google in 2015. Google has long been a major player in the AI space, but the creation of DeepMind signals the company's intention to further deepen its expertise in the field. The move also comes as OpenAI continues to make headlines with its advanced language models, such as GPT-4. While Google has not explicitly stated that DeepMind is being created to compete with OpenAI, the move is widely seen as a response to OpenAI's growing influence. With Hassabis at the helm, DeepMind will surely be a major force in the AI industry in the coming years.

That's all from YOU. ME. WEB3. Feel free to share your feedback or suggest topics you would like us to cover in future newsletters. Until next time, stay curious and keep exploring the decentralized web3 with us! ????