Welcome to the latest edition of ‘The Digital Asset Digest’. Today, we discuss why dog-themed cryptocurrencies have increased in popularity and analyze the correlation between the Metaverse and digital assets.
SNIPPETS
Cosmos liquid staking protocol pSTAKE raises $10 million in seed funding
Source: The Block
“pSTAKE, a liquid staking protocol from blockchain startup Persistence, has raised $10 million in a seed funding round.”
IOTA Foundation to launch staging network and reward token
Source: CoinTelegraph
“The IOTA Foundation has announced the upcoming launch of a staging network, Shimmer, in a bid to advance the IOTA roadmap towards fully functional decentralization.”
Crypto Market Drops $250 Billion In Hours As Bitcoin, Ethereum Emerge Biggest Losers In Latest Gargantuan Market Sell-Off
Source: ZyCrypto
“The cryptocurrency market has experienced another major sell-off today. Leading the plunge are the two biggest cryptocurrencies by market valuation, Bitcoin and Ethereum.“
Polygon Unveils ZK-Rollup Solution Miden to Scale Ethereum
Source: CryptoBriefing
“Polygon has launched a new Layer 2 ZK-Rollup solution called Miden. The solution uses zero-knowledge STARKs, otherwise known as ZK-STARKs—a type of cryptographic proof technology that can verify data or computation without revealing them to a third party.“
India to Legalize Bitcoin
Source: TrustNodes
“A meeting of Indian parliamentarians and crypto representatives has concluded with a decision to regulate this industry, taking a ban off the table in one of the biggest political victory for this space.“
TOP GAINERS
TOP LOSERS
INDUSTRY WIDE SNAPSHOT
MARKET BREAKDOWN
Why Digital Assets are a key part of the Metaverse
With several tech giants throwing their hat into the ring, it seems the so-called ‘metaverse’ is finally going mainstream. A confluence of social factors and emerging technologies could make this virtual world a reality. Digital assets could play a pivotal role. Here’s a glimpse into the far-future and the present-day tech that could enable it.
EXPLORING NEW IDEAS
Why Digital Assets are a key part of the Metaverse
With several tech giants throwing their hat into the ring, it seems the so-called ‘metaverse’ is finally going mainstream. A confluence of social factors and emerging technologies could make this virtual world a reality. Digital assets could play a pivotal role. Here’s a glimpse into the far-future and the present-day tech that could enable it.
TOKEN OF THE WEEK
Axie Infinity AXS
In 2020, unique applications of blockchain technology emerged that could finally make the innovation mainstream. The rise of Non-Fungible Tokens is an excellent example of how digital assets are now being adopted by the general public. But another more intriguing example is the rise of Play-to-Earn online games.
Axie Infinity is a pioneer in this new segment of the digital assets landscape. The game went from obscurity to front-page news earlier this year, when revenue on the platform exploded beyond $1.5 billion on an annualized basis. Here’s a closer look at this week’s token and its role in a virtual nation of playable NFTs.
THIS WEEK’S DEEP READ
Fidelity International: It’s a Problem that Regulators Around the World Look at Crypto Differently
Source: Blockworks
“Fidelity’s Anne Richards argues that while digital asset volatility is a challenge and regulations are coming, along with CBDC, ultimately these developments are both necessary and beneficial for adoption.”
And that’s all for today! Like what you hear and want to explore an investing relationship through GDA?
