Welcome to No Standing's Web3 Weekly Recap. In this newsletter, we’ll keep you up to date on the most important news and developments from the world of Web3.
If you missed the news this week we've got you covered. Here are the highlights and latest developments in blockchain technology, new projects, events, and much more. Stay up to date on all things web3 by subscribing to our newsletter, and let us know if there's anything you'd like to see covered in future issues.
Story 1: Trump Releases Second NFT Collection, Generates Over $4.65M in Sales on Launch Day
A second collection of nonfungible tokens (NFTs) featuring former US President Donald Trump has sold out on the day of its launch, April 19th. The collection includes 47,000 digital collectibles priced at $99 each, generating over $4.65 million in sales. The "Trump Digital Trading Cards Series 2" collection has reached 750 Ether in trading volume on the secondary market, OpenSea.
The NFTs, licensed under Trump's name, likeness, and image, offer incentives for buyers, such as a ticket to attend a Gala Dinner with Trump in South Florida if they purchase 47 Digital Trading Cards or buy 100 cards with crypto. The collection is not owned, managed, or controlled by Donald J. Trump or The Trump Organisation.
The digital trading cards are minted on the Polygon blockchain and designed by artist Clark Mitchell. Each autographed card is claimed to be digitally hand-signed by the former president. Buyers could purchase the NFTs via credit card or Wrapped Ether (wETH) and were required to pass Know Your Customer verification even if they paid with crypto.
Trump's first NFT collection, released in December 2022, experienced a surge in price following his indictment on over 30 charges related to alleged business fraud on March 31st. Despite the controversy surrounding Trump, the success of his second NFT collection suggests a strong demand for digital collectibles featuring the former president, who is campaigning for a non-consecutive second term in the 2024 elections.
Story 2: Ripple Introduces Liquidity Hub to Bridge Crypto Liquidity Gap for Businesses
Fintech firm Ripple has launched a Liquidity Hub on April 13 to bridge the gap between crypto and fiat for businesses. The service acts as a stand-alone solution in addition to Ripple's popular cross-border payments service, On-Demand Liquidity (ODL), providing partners with access to global payout rails. The Liquidity Hub was developed from an enterprise perspective, offering digital assets from various market makers, such as crypto exchanges and over-the-counter trading desks.
https://twitter.com/Ripple/status/1646666981125369856?s=20
When an enterprise partner requires liquidity, it can source it from large pools of deep liquidity, including USD, Bitcoin, Ether, Ethereum Classic, Bitcoin Cash, and Litecoin. However, Ripple's native token, XRP, is not mentioned among the liquidity pairs, possibly due to the company's ongoing legal battle with the U.S. Securities and Exchange Commission.
Ripple claims that its liquidity solution will significantly reduce operational costs for high-volume transactions by optimising cryptocurrency pricing and liquidity across asset pairs. The Liquidity Hub eliminates the need for pre-financing capital positions to source liquidity or conduct transactions. By consolidating access to digital assets in a single place, it also simplifies multiplatform administration requirements. The service locks in optimal pricing for digital assets to protect companies from market instability and price swings.
Ripple is known for providing various liquidity solutions and cross-border remittance services. Its popular ODL solution has been adopted by numerous banks worldwide, enabling affordable remittance services with the help of cryptocurrencies.
Story 3: VeChain Partners with BCG to Bridge Web2 and Web3 with VORJ
VeChain has recently unveiled its new Whitepaper focused on sustainable development, created in partnership with Boston Consulting Group (BCG). The blockchain protocol, known as an enterprise-grade L1 smart contract platform, has been involved in initiatives promoting efficiency and sustainability across various industries, such as supply chain, logistics, food, and climate change. With its new Whitepaper, VeChain emphasises its commitment to sustainable practices and highlights its role in combating climate change.
https://twitter.com/vechainofficial/status/1646876490116497417?s=20
In addition to the Whitepaper, VeChain has announced its latest product, VORJ, a no-code development platform designed to promote sustainability in code development. VORJ offers Sustainability-as-a-Service to Web3.0 platforms and the wider technology ecosystem. By eliminating the need for code, VORJ aims to lower barriers to entry for developers looking to enter the Web 3.0 ecosystem.
The VORJ platform enables users to create, manage, and deploy intelligent systems without writing a single line of code. This innovation not only reduces the costs associated with deploying decentralised applications (DApps) and smart contracts but also accelerates the time taken to bring new systems to market.
As VeChain continues to introduce new innovations, it is working on unique products and services for retail and enterprise clients, with the release of its Whitepaper and the launch of VORJ being some of the most anticipated developments this year.
Story 4: Australia Surpasses Asia in Bitcoin ATM Installations, Boosts Crypto Accessibility
Australia has overtaken Asia in terms of Bitcoin ATM installations, boasting 364 crypto ATMs compared to Asia's 355, which include major economies such as China, Japan, Singapore, and India. Since the beginning of 2023, Australia has been aggressively installing crypto ATMs, climbing from fifth to third place worldwide in January alone. Data from Coin ATM Radar confirms the country's continued efforts in providing fiat-to-crypto conversion channels.
https://twitter.com/Treasury_AU/status/1621286135711293440?s=20
Over the last eight months, Australia has consistently added Bitcoin ATMs, unlike leading European countries and the United States, which experienced a decline in ATM installations during the same period. This has contributed to the total number of crypto ATMs installed worldwide showing a consistent decrease.
The Australian government is also working on developing crypto regulations. Leaked internal documents from the Department of the Treasury reveal that consultation papers are expected to be released in the second quarter of 2023, with the final submissions to the cabinet occurring later in the year. This indicates that any decisions on crypto legislation are likely to be postponed until 2024.
Australia's rapid growth in crypto ATM installations, combined with its upcoming crypto legislation, highlights the country's dedication to fostering the adoption and accessibility of cryptocurrencies for its citizens.
Story 5: Uniswap Wallet Now Live on iOS Following Apple App Store Challenges
Uniswap Labs, the company behind the DeFi trading platform Uniswap, has successfully launched its Wallet app on Apple's App Store for users in the US, UK, and France. The Uniswap Wallet iOS app faced previous challenges in obtaining Apple's approval but has now overcome these obstacles. The company plans to continue launching the app in other countries as Apple permits.
https://twitter.com/Uniswap/status/1646514969746501633?s=20
The Uniswap Wallet enables users to trade crypto assets on Ethereum's mainnet and other networks such as Polygon, Arbitrum, and Optimism. Additionally, the app allows users to purchase cryptocurrencies, view NFT details, select favorite tokens and wallet addresses, and explore different cryptocurrencies.
In March, Uniswap reported that it was uncertain why Apple had initially refused to approve the app's launch on the App Store. Although the app is now live in select countries, it is unclear if or when Apple will approve its use in other regions.
Uniswap Labs has made the app's code open-source and published it on GitHub. Despite the recent launch of Uniswap's NFT platform, it has not yet seen significant volume compared to leading marketplaces like OpenSea and Blur. However, Uniswap remains the most popular Ethereum DeFi protocol, with $4.26 billion in total value locked.
Uniswap's mobile wallet faces competition from established platforms such as MetaMask, Coinbase Wallet, and Robinhood's wallet app. Apple's relationship with crypto has been historically conservative and sometimes ambiguous, making the Wallet app's approval a significant milestone for Uniswap Labs.
Story 6: Mastercard & Polygon Partner to Launch Web3 Music Program
Mastercard and Polygon have teamed up to create the Mastercard Artist Accelerator program, a groundbreaking initiative that combines blockchain technology with a passion for music. The limited-edition Mastercard Music Pass NFT was unveiled at NFT.NYC 2023, allowing fans and emerging artists to access a first-of-its-kind curriculum, which includes free educational materials, unique AI tools, and Priceless experiences to boost creativity.
https://twitter.com/Mastercard/status/1646173292917555208?s=20
By redeeming the Mastercard Music Pass NFT, users can access the program designed to give emerging artists the tools and capabilities needed to thrive in the tech-driven era. The program is open to an unlimited number of fans who claim their Mastercard Music Pass.
Mastercard has chosen five up-and-coming artists from various genres and locations to chronicle their journey in the Web3 music space. These artists will be guided by five expert mentors to help them grow and learn in this innovative new space. The lineup includes R&B soul singer Young Athena, Latin Grammy-nominated singer-songwriter Manu Manzu, Nigerian-based artist LeriQ, pop singer and multi-instrumentalist Emily Vu, and pop-soul singer Cocoa Sarai.
The selected artists will be mentored by industry experts such as producer/songwriter Tushar Apte, rapper and Head of Programming at ZORA Latashá, Ledger CXO Ian Rogers, Afro-dancer and content creator Nife, and crypto expert and Polygon business development lead Brian Trunzo. The Mastercard Artist Accelerator program demonstrates the potential of blockchain technology in supporting creative industries and fostering growth for emerging talents.
Story 7: Hong Kong Aims to Become a Crypto Hub, Attracting Companies with New Regulations
At the recent "Web3 Festival" in Hong Kong, the government announced new regulations aiming to attract crypto companies to the city. This move comes as the U.S. continues to impose strict regulations on the crypto industry, with the SEC cracking down on ICO projects such as Algorand. Hong Kong, like Singapore, is focusing on the growing sector to revive its economy, which was hit hard by the 2020 Beijing-enacted National Security Law that caused many international firms, expats, and wealthy locals to leave the city.
The new regulations provide clear guidance on digital assets, with the aim of attracting crypto firms to establish offices in Hong Kong, bringing in tax revenue, talent, and financial activity. Major exchanges Huobi and OKX have already announced plans to open branches in the city, and Bitget, a rising star in the centralised exchange space, is considering following suit. Many asset managers at the conference expressed interest in setting up shop in Hong Kong due to the city's high concentration of high-net-worth individuals.
Hong Kong's approach to crypto regulation aligns with the "One Country, Two System" mandate, where the city remains part of China but enjoys policy exceptions. While mainland China bans crypto, Hong Kong has been given the green light to court and regulate the sector, positioning itself as a key player in the growing global crypto industry.
Story 8: The Smurfs Venture into Web3 with NFTs and Innovative Collaborations
The Smurfs are making their debut in the world of Web3 with The Smurfs' Society, a pioneering community that aims to merge collective and individual interests by creating an inclusive environment with exclusive rewards. The Smurfs' Society will utilize NFTs to build, engage, and align digital communities, showcasing the tangible value of Web3 communities.
https://twitter.com/SmurfsSociety/status/1648340712839053325?s=20
The adventure begins with a bucket auction for 3,000 NFTs based on Smurf characters, running until April 20. The complete collection will feature 12,500 NFTs, 250 different Smurf characters, and over 350 traits. The auction format allows the market to determine the mint price, giving the community control and accurately gauging market conditions. The Smurfs' Society has partnered with Rarible for a seamless and secure auction experience.
In an effort to demonstrate the value of Web3 communities, The Smurfs' Society introduces a concept called "Proof of Collab," which gamifies community engagement and rewards collective intelligence. Members who actively participate in the community will receive exclusive benefits.
To bring the Smurfs' universe to life in the Web3 world, the brand has partnered with renowned artists and creators, including Philippe Druillet, Fafi Birtak, Antonyo Marest, Chase, and André Saraiva. These collaborations aim to revisit and reimagine the Smurfs' universe in innovative and exciting ways, marking a new era for the beloved blue characters.
Story 9: Starbucks Debuts First Store Collection NFTs in Odyssey Web3 Rewards Program
Starbucks, the global coffee chain, is launching a new set of NFTs called the First Store Collection, as part of its Odyssey Web3 rewards program. The collection consists of 5,000 NFTs, each priced at $100, and features a multimedia collage inspired by Starbucks' first store in Seattle's Pike Place Market. The NFT drop follows the success of Starbucks' previous NFT collections, the Holiday Cheer Edition 1 and the Siren Collection.
The Odyssey Web3 rewards program offers Starbucks customers unique rewards through the use of NFTs and blockchain technology. Users earn points by engaging with Starbucks content and purchasing drinks from its stores. Rewards include a virtual coffee preparation class, a donation to Feeding America, the opportunity to name a tree at Starbucks' coffee farm in Costa Rica, and a custom Starbucks tumbler featuring their NFT art.
Starbucks has been testing its Odyssey Web3 platform, which aims to provide customers with a more immersive and rewarding experience using blockchain technology. The platform is set to launch to the public soon. By incorporating blockchain technology into its rewards program, Starbucks is encouraging mainstream adoption of the technology and enhancing customer experiences.
The First Store Collection NFT drop is expected to sell out quickly, considering the popularity of Starbucks' previous NFT drops. Customers who purchase an NFT will earn 1,500 points toward rewards within the Odyssey Web3 rewards program, making it an appealing opportunity for coffee lovers and NFT enthusiasts alike.
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