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: Ubisoft Partners with Integral Reality Labs to Launch Assassin’s Creed Smart Collectibles
Ubisoft, the gaming giant behind popular titles such as Assassin’s Creed, is partnering with Integral Reality Labs to unveil a new collection of NFC-embedded Smart Collectibles. These collectibles, uniquely authenticated via NFTs, blur the lines between the physical and digital world, offering a more interactive experience for the fans.
https://twitter.com/IntegralReality/status/1471163497367187461?s=20
Dubbed the Assassin’s Creed Smart Collectibles, the offering comprises physical 3D-printed figurines representing different characters from the game series and NFT access passes minted on the Polygon network. The physical collectibles carry an embedded NFC chip that lets the owners view the digital version of their character through a compatible smartphone app, thereby augmenting the interactivity of the collectibles.
The pre-sale of the Smart Collectibles kicked off on May 12, with the official launch scheduled for May 16. While the pricing details have not been disclosed, the hype is palpable among the gaming community.
Ubisoft's venture into NFTs has been around for a while. It has previously released Tezos-based in-game NFT items for Tom Clancy’s Ghost Recon Breakpoint on PC. However, this latest collaboration with Integral Reality Labs presents a unique fusion of physical and digital merchandise, potentially setting a new trend in gaming collectibles.
Story 2: Apple Approves Axie Infinity Origins Card Game for its App Store
In a significant development for blockchain gaming, Apple has given the go-ahead for Axie Infinity’s Origins Card game to be available on its App Store in various Latin American and Asian countries. The game is now downloadable on iOS devices in Argentina, Colombia, Peru, Mexico, Venezuela, Indonesia, Malaysia, and Vietnam.
https://twitter.com/AxieInfinity/status/1658778494875181058?s=20
The game will provide a non-NFT starter character for new users, while existing users can use their Axie Infinity NFTs within the game. This decision comes after Apple's statement in October 2022 that they would take a 30% cut from app developers generating over $1 million in revenue and 15% from those earning less. The tech giant also restricted the use of NFTs purchased outside its App Store.
In parallel, Sky Mavis, the developer behind Axie Infinity, has announced the launch of Mavis Market, an NFT marketplace. The market will use RON as the official currency, with options for AXS, ETH, and SLP transactions. Sky Mavis will levy a 2% maintenance fee and the Ronin Treasury a 0.5% fee, while creators can determine their royalties.
Story 3: Lightning Labs Upgrades Taproot Assets Protocol to Improve Minting on the Bitcoin Network
Lightning Labs, a Bitcoin infrastructure company, has unveiled an upgraded edition of the Taproot Assets Protocol to help address inefficiencies in creating new assets on the Bitcoin network. In a blog post on May 16, the firm pointed to the cumbersome methods currently in use, which embed asset metadata directly into block space, as being particularly inefficient.
https://twitter.com/lightning/status/1658497809895809025?s=20
The updated Taproot Assets Protocol is designed to function maximally off-chain, avoiding the network congestion that has become a significant issue for Bitcoin since the inception of the BRC-20 token standard. This standard was developed by the anonymous developer "Domo" on March 8.
According to Lightning Labs, users of the Protocol may soon be able to incorporate BRC-20 assets into the Lightning Network. This will allow wallets, exchanges, and merchants to be ported over without an entirely a completely new ecosystem.
The Taproot Assets Protocol, which Domo has touted as a far superior solution for minting new assets on Bitcoin compared to existing methods like JavaScript Object Notation (JSON), enables easy transfers to the Lightning network for swift, inexpensive transactions.
Most BRC-20 tokens currently use Ordinal inscriptions of JSON data to deploy token contracts, mint tokens, and transfer them, a method criticised by developers for costing significantly more in transaction fees than binary.
Story 4: LooksRare Launches NFT Raffle Initiative
LooksRare, a prominent NFT marketplace, is venturing into the realm of NFT raffles. Users can participate by purchasing raffle entries for less than 0.01 ether (ETH). The only participation requirements are a cryptocurrency wallet and sufficient ETH to cover the entry fee and transaction costs.
https://twitter.com/LooksRare/status/1658873859779461120?s=20
In a recent blog post, Zodd, LooksRare's pseudonymous co-founder, revealed the 'LooksRare Raffles’. The top daily prize for the week will be a coveted Bored Ape Yacht Club NFT (BAYC). Although only one BAYC NFT is available daily, the prize pool is supplemented with other high-value NFTs, such as Azukis, and allocations of LOOKS, the platform's native coin.
LooksRare's raffle is set to run for seven days, with one round each day. If the initiative receives a positive reception, it could become a regular feature on the platform. The first round offers one BAYC NFT, five Azuki NFTs, and 100 bundles of 1,000 LOOKS tokens each.
The raffle system is built on transparent and provably fair smart contracts, using Chainlink VRF (Verifiable Random Function) as a verifiable random number generator. The company states that this process ensures that the results can't be manipulated by any party, including Oracle operators, miners, users, or smart contract developers.
Moreover, LooksRare assures users that it will only proceed if there is sufficient interest in a specific round. Therefore, if too few entries are purchased, the contract will enable users to get refunds. The platform suggests that the raffle could be an excellent way for users to utilise the crypto dust in their wallets.
Story 5: Alibaba Cloud and Avalanche have Developed a Metaverse Launchpad
Alibaba Cloud, a division of Chinese e-commerce giant Alibaba, has partnered with Avalanche to create a launchpad for businesses aiming to establish metaverses on the layer 1 blockchain. The platform, termed "Cloudverse," is designed to offer an all-in-one solution that simplifies the process of customising, launching, and maintaining a business's metaverse space, thus adding a new customer engagement dimension.
As per the official blog post, all blockchain elements, including digital land, wearables, and other digital assets in this new offering, are built on Avalanche. Alibaba Cloud is responsible for delivering scalable, efficient, and secure cloud infrastructure services, encompassing computing, storage, database and networking, and intelligence operation platforms. Meanwhile, Avalanche and another partner, MUA DAO, concentrate on providing solutions for constructing metaverse spaces.
Raymond Xiao, Head of International Web3 Solutions at Alibaba Cloud Intelligence, highlighted the growing demand from Asia-Pacific businesses planning to venture into the Web3 space, fueled by the increasing popularity of blockchain technology and the metaverse.
Alibaba Cloud's partnership with Avalanche dates back to December 2022, when they announced an integration to support Alibaba's Node-as-a-Service initiatives. The cloud computing division of the Chinese conglomerate began providing tools and infrastructure to aid Asia-based users in launching validators on the network at the same time.
The company has recently unveiled plans to boost the development of a more inclusive, secure modern internet powered by blockchain technology. As part of its Web3 strategy, Alibaba Cloud partnered with a layer one blockchain protocol, Elastos, last month to create and deploy next-generation solutions.
Story 6: Adidas Partner with Tokenproof to Enhance "ALTS" Benefits
Adidas is forging ahead in the Web3 space with its "ALTS by Adidas" initiative, this time enhancing the benefits for token holders in partnership with Tokenproof. The sportswear giant's ongoing venture into the metaverse, labelled "Into The Metaverse," saw its third phase launch recently with the introduction of ALTS by Adidas.
This token-based initiative allows Adidas customers to partake in an evolving interactive storyline set in the Rift Valley Motel. Each participant, or ALT[er] Ego, possesses eight unique traits with differing rarity levels. These traits then determine the level of access to certain benefits provided by the brand.
Recently, Adidas and Tokenproof have developed a way for holders to directly connect their wallets to the Adidas app. This feature verifies if users possess an "ALTS by Adidas" token and provides them with rewards based on this verification. The inaugural drop of these rewards granted holders access to two exclusive products created in collaboration with the Bored Ape Yacht Club, Gmoney, and Pixel Vault PUNKS Comic.
As the "ALTS by Adidas" program progresses, Adidas promises a host of additional perks for token holders. Depending on the rarity of their ALT[er] Ego’s traits, holders could also have access to a variety of highly exclusive digital and physical products.
Story 7: Renault Debuts Web3 RACING SHOE5 Sneakers
Renault, the renowned automotive brand, is accelerating into the web3 space with its exclusive RACING SHOE5 sneakers. These collector's edition sneakers, inspired by the iconic R5 Turbo, will be available for purchase starting May 15th, exclusively through Renault’s first virtual shop. The online platform provides a unique 3D immersive journey, allowing customers to explore the collection of RACING SHOE5 sneakers in an engaging virtual environment.
https://twitter.com/Renault_NFT/status/1656572491626676226?s=20
Six custom-made models from the collection, with five models paying homage to the flagship R5 Turbo cars. The sixth design, crafted in collaboration with the web3 R3NLT community, honours the R5 TURBO 3E show car. Each aspect of the RACING SHOE5 reflects the spirit of the R5 Turbo, from the chassis-mimicking rear inclination to seat belt-inspired laces.
A noteworthy feature of these shoes is the integration of an NFC chip, which provides access to the shoe’s NFT certificate of authenticity stored on a blockchain. This digital passport validates ownership and verifies the origin of the materials used in manufacturing. The commitment to sustainability is reflected in using LWG (Leather Working Group) certified leather in the 960 pairs of sneakers.
Renault is set on delivering unique experiences to its customers with this initiative. The RACING SHOE5 sneaker owners can meet Renault designers at the Renault Research and Development Center. This release is part of Renault’s broader “Renaulution” strategy, which signifies the company's dedication to innovative and competitive automotive solutions.
Story 8: NFT Worlds has Rebranded Itself as Topia
NFT Worlds, a well-known NFT project and game platform, has rebranded itself as Topia. It seeks to revolutionise player experiences and push the boundaries of creative expression in a way that Minecraft, its predecessor, couldn't entirely achieve. The new platform, Topia, is a product of a collective of influential individuals from the Minecraft modding and third-party games ecosystem.
https://twitter.com/TOPIAgg/status/1654409134815739905?s=20
Topia aspires to eliminate the limitations and gaps in creative expression within the Minecraft universe, drawing from time-tested game mechanics familiar to players. Its ultimate goal is to become "the next Minecraft", thus transforming the gaming experience.
The project is led by a team dedicated to promoting innovation and collaboration within a community of enthusiastic players, dedicated content creators, and supportive contributors. This collective aims to create the rich, unlimited gaming experiences that players have always desired in Minecraft.
Topia is an ambitious endeavour to create an integrated ecosystem of players, creators, and contributors. The project entails building a new game, engine, and platform from scratch while providing the necessary technology, resources, and support for the community to generate and enjoy a wide variety of content and experiences.
Key features that set Topia apart include its Free-To-Play accessibility, familiarity for Minecraft players, emphasis on community and social aspects, extensive cosmetic systems for player expression, and backward compatibility with Minecraft servers. With this rebranding, the goal of becoming the Minecraft of Web3 appears closer than ever.
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