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: If you have a Macbook, you’ve got an Easter surprise in your computer!
A PDF copy of Satoshi Nakamoto's Bitcoin whitepaper has been discovered in every modern version of macOS since Mojave (10.14.0), released in 2018. The whitepaper is hidden within the Image Capture utility and is used as a sample document for a device called "Virtual Scanner II." The reason behind the inclusion of the whitepaper in macOS remains unclear, with some speculating it might be a convenient, lightweight multipage PDF for testing purposes.
To access the Bitcoin whitepaper on a Mac running macOS Mojave (10.14.0) or later, users can open a Terminal and type the provided command, or alternatively navigate to the file through Finder. In Image Capture, selecting the "Virtual Scanner II" device, if it exists, and adjusting the settings to "Document" and "72 DPI" will display a preview of the first page of the Bitcoin paper.
The discovery has led to questions about why the Bitcoin whitepaper was chosen for inclusion in macOS, with suggestions of a secret Bitcoin supporter working at Apple. However, there is currently little information available about the "Virtual Scanner II" device or the whitepaper file, with only a few online references found.
Story 2: Elon Musk changes Twitter Icon to DOGE, causing the price to soar
Twitter changed its iconic blue bird logo to the popular meme cryptocurrency Dogecoin (DOGE) on April 3, 2023, causing the token's price to surge by 25%. The platform-wide change was visible to the estimated 360 million monthly active users, sparking intrigue and driving DOGE's price from $0.077 to $0.10.
To access the Bitcoin whitepaper on a Mac running macOS Mojave (10.14.0) or later, users can open a Terminal and type the provided command, or alternatively navigate to the file through Finder. In Image Capture, selecting the "Virtual Scanner II" device, if it exists, and adjusting the settings to "Document" and "72 DPI" will display a preview of the first page of the Bitcoin paper.
The discovery has led to questions about why the Bitcoin whitepaper was chosen for inclusion in macOS, with suggestions of a secret Bitcoin supporter working at Apple. However, there is currently little information available about the "Virtual Scanner II" device or the whitepaper file, with only a few online references found.
Story 3: Nakamigos NFT: Enigmatic Origins Fuel Rapid Rise in Web3 Community
The Nakamigos NFT project, masterminded by the elusive HiFo Labs, has taken the Web3 community by storm with its meteoric rise in popularity. One of the highest-selling NFTs in the collection, #5187 Nakamigos, was sold for an impressive 20 ETH, equivalent to $36.22k. In a bid to increase the project's visibility, the team introduced a unique series called Honorary Nakamigos, which consists of 24 NFTs depicting well-known faces in the NFT space, such as Art Blocks CEO SnowFro, NFT influencer Farokh, and Zeneca.
Since the collection's launch, its floor price has experienced some fluctuations. It started at 0.014 ETH on March 24th, reached an all-time high of 0.700 ETH, and experienced a slight dip before recovering. The project's enigmatic origins, the association with Bitcoin, and its aesthetic similarity to the iconic CryptoPunks collection are factors that contribute to its widespread appeal. However, questions about the long-term sustainability of its popularity still persist.
There are speculations surrounding the identity of the "OG crypto artist" who created the project. Many believe that Sartoshi, the NFT influencer and artist behind the Mfers collection, is the mastermind. Sartoshi's departure from the Mfers project in June 2022 was marked by the issuance of an "end of Sartoshi" (EOS) NFT pass. Interestingly, six months later, Sartoshi reappeared to announce the Nakamigos project, allowing EOS pass holders to mint a single NFT from the collection for free before its public release.
https://twitter.com/sartoshi_rip/status/1643631012646203392
As the Web3 community eagerly anticipates future developments, questions about the project's creator and the collection's long-term success remain unanswered. Will the collection be able to maintain its current momentum, or is it just a transient trend? The NFT community will continue to keep a close eye on the project as events unfold, hoping to gain more insights into this intriguing venture.
Story 4: Celo Foundation and Google Cloud partner to support sustainable Web3 startups
The Celo Foundation, a non-profit organisation supporting the growth and development of the Celo open blockchain platform, has announced a partnership with Google Cloud to support sustainable Web3 startups. This collaboration aims to advance the adoption of green technology in the blockchain and cryptocurrency space by offering resources and tools to startups focusing on environmentally sustainable projects.
Under this partnership, Google Cloud will provide selected startups with cloud credits, technical support, and access to its data analytics tools, machine learning capabilities, and other cutting-edge technologies. These resources will enable startups to develop and scale their innovative projects while reducing their environmental impact. The collaboration will also give startups access to the Celo ecosystem, which offers a decentralised, secure, and low-carbon alternative to traditional blockchain platforms.
This partnership aligns with both organisations' commitment to environmental sustainability and social impact. Celo's platform is designed to minimise energy consumption by using a proof-of-stake consensus mechanism, which is more energy-efficient than the proof-of-work model used by Bitcoin and other cryptocurrencies. Google Cloud has also demonstrated its commitment to sustainability by pledging to operate on 24/7 carbon-free energy by 2030.
The Celo Foundation and Google Cloud's collaboration is expected to inspire more startups to adopt green technology and contribute to the growth of a sustainable Web3 ecosystem. By supporting environmentally responsible projects, this partnership has the potential to drive meaningful change in the blockchain and cryptocurrency industries, making them more sustainable for future generations.
Story 5: Binance launches a self-custody wallet with a crypto-to-fiat off-ramp
Binance, the world's largest cryptocurrency exchange by trading volume, has announced the launch of its self-custody wallet that offers a seamless crypto-to-fiat off-ramp. This new feature enables users to easily convert their cryptocurrencies into fiat currency and withdraw them directly into their bank accounts. The move is expected to enhance the user experience and facilitate the mainstream adoption of cryptocurrencies.
The Binance self-custody wallet aims to provide users with more control over their digital assets by allowing them to securely store, manage, and exchange their cryptocurrencies without having to rely on third-party services. The wallet supports various digital assets, including Bitcoin, Ethereum, Binance Coin, and other popular cryptocurrencies. By enabling the direct conversion of cryptocurrencies to fiat, Binance aims to bridge the gap between traditional banking systems and the growing digital asset market.
One key advantage of the new feature is the elimination of intermediaries, which often charge high fees and can cause delays in transactions. Users will now be able to quickly and easily withdraw their funds without having to first transfer them to another platform. The wallet also ensures enhanced security by employing high-level encryption and a user-friendly interface for smooth navigation.
In addition to the crypto-to-fiat off-ramp, Binance continues to expand its services by partnering with various companies to offer crypto-related financial products and services, such as staking, lending, and decentralised finance (DeFi) solutions. These efforts highlight Binance's commitment to driving the mainstream adoption of cryptocurrencies and making them more accessible to users worldwide.
Story 6: OpenSea launches an advanced NFT marketplace aggregator
OpenSea, the world's largest NFT marketplace, has launched an advanced NFT marketplace aggregator to enhance the user experience and simplify the search for NFTs across multiple platforms. The new aggregator aims to provide users with a one-stop solution to discover, track, and manage their NFT collections in a centralised manner.
The aggregator combines data from various NFT marketplaces, including Rarible, SuperRare, and Foundation, to provide users with an extensive and up-to-date catalog of available NFTs. By aggregating this information, OpenSea aims to reduce the time and effort required to search for NFTs across multiple platforms, making it easier for users to find and acquire their desired digital assets.
Additionally, the advanced NFT marketplace aggregator incorporates various filtering options to improve the browsing experience. Users can now sort and filter NFTs based on factors such as rarity, price, and artist, enabling them to find specific items more quickly and efficiently. The aggregator also offers personalised recommendations based on users' preferences and browsing history.
OpenSea's initiative to streamline the NFT discovery process comes at a time when the NFT market is witnessing significant growth and diversification. By providing a centralised platform for users to explore and manage their NFT collections, OpenSea aims to promote the mainstream adoption of NFTs and facilitate a more seamless experience for both creators and collectors.
Story 7: Former Activision Blizzard executive Roneil Rumburg joins Yuga Labs as CEO
Yuga Labs, the creator of the popular Bored Ape Yacht Club (BAYC) NFT collection, has announced the appointment of former Activision Blizzard executive, Roneil Rumburg, as its new CEO. Rumburg, who previously served as a VP at Activision Blizzard and co-founded Audius, a decentralised music streaming platform, brings extensive experience in the gaming and blockchain industries to Yuga Labs.
The appointment of Rumburg comes as Yuga Labs aims to expand its footprint in the rapidly growing NFT space and capitalise on the success of BAYC. Under Rumburg's leadership, the company plans to focus on developing new intellectual property (IP) and interactive experiences for the Bored Ape Yacht Club community, as well as explore collaborations with other brands and projects.
Rumburg's background in gaming and blockchain is expected to play a significant role in shaping Yuga Labs' future direction. His experience in leading successful projects in these industries will be invaluable as the company seeks to tap into the growing popularity of NFTs and the metaverse. By combining the worlds of gaming, blockchain, and NFTs, Yuga Labs aims to create unique experiences that will resonate with both the BAYC community and a broader audience.
The appointment of a high-profile executive like Rumburg highlights the increasing recognition of NFTs and their potential to revolutionise industries like gaming, art, and entertainment. As Yuga Labs continues to expand its reach and develop new experiences, the company is well-positioned to play a significant role in the evolving NFT landscape.
Story 8: Huobi partners with Gala Games to collaborate on Layer-1 and Web3 development
Huobi, a leading global cryptocurrency exchange, has announced a strategic partnership with Gala Games, a blockchain-based gaming platform, to collaborate on Layer-1 (L1) and Web3 development. The partnership aims to foster innovation and growth in the decentralised gaming and Web3 space, as well as offer new opportunities for both companies.
Under the partnership, Huobi will support Gala Games in the development of its Layer-1 blockchain and provide technical assistance to enhance the platform's performance, security, and scalability. The collaboration will enable Gala Games to create a more robust infrastructure for its decentralised gaming ecosystem, which currently hosts popular games like Fortified, Mirandus, and TownStar.
Additionally, the partnership will facilitate the integration of Huobi Token (HT) into Gala Games' ecosystem, allowing users to utilise HT for in-game purchases and other transactions. This integration will expand the use cases for Huobi Token and promote the adoption of cryptocurrencies in the gaming industry.
The collaboration between Huobi and Gala Games reflects the growing interest in the intersection of blockchain technology, gaming, and Web3. By combining their expertise in these areas, both companies aim to drive innovation in the decentralised gaming space and create immersive, player-owned experiences. The partnership is expected to benefit the broader crypto and gaming communities by promoting the development of new decentralised applications (dApps) and pushing the boundaries of Web3 technology.
Story 9: Sentiment Finance, a liquidity protocol, has been exploited for over $500,000
Sentiment Finance, a decentralised liquidity protocol, has suffered an exploit resulting in a loss of over $500,000. The attack was executed by exploiting a vulnerability in the smart contract governing the protocol's liquidity pools. The incident highlights the need for increased security measures and thorough audits in the DeFi sector to prevent such breaches.
The attacker managed to manipulate the protocol's price oracle to create a false price for the liquidity pool tokens, allowing them to drain funds from the affected pools. The exploit was discovered by the Sentiment Finance team, who promptly alerted the community and initiated steps to mitigate the attack's impact. The team halted deposits and withdrawals on the platform and began investigating the breach to understand the attacker's methods and identify potential vulnerabilities in the protocol.
In response to the attack, Sentiment Finance has stated that it is working closely with its auditors and security partners to address the vulnerability and strengthen the protocol's security. The team will also explore compensation plans for affected users and implement additional measures to prevent future exploits. The incident serves as a reminder for DeFi projects to prioritise security and conduct regular audits to protect users' funds and maintain trust in the ecosystem.
The Sentiment Finance exploit follows a series of similar incidents in the DeFi space, emphasising the need for robust security measures and comprehensive audits. As the DeFi sector continues to grow, ensuring the safety of users' funds will be crucial to sustaining its long-term success and mainstream adoption.
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