Le Récap: Twitter takeover, French metaverse, DOGE moon, NFT royalties…

That France prepare your strategy metaverse; Elon Musk acquirer Twitter; DOGE flies away; Google pass the other with Ethereum; That royalties on it NFT pay big but annoying… Back to this week’s crypto news.

Twitteran emblematic company of Web2, it is soluble in Web3 ? Under the leadership ofElon Muskcould the company highlight his turn towards these technologies, in addition to NFT functionalities. After refusing to support his takeover of the social network, the whimsical leader finally took over the management of Twitter.

The billionaire has never hidden his interest in Web3, although it sometimes blows hot and cold, as with Bitcoin. Musk is therefore the one new owner of Twitterand this thanks to financial assistance from several companies, e.g Binanceas Changpeng Zhao, the founder of the crypto exchange, did not fail to remember.

Dogecoin (DOGE) rises after takeover

For investors, the effect of this operation was foreseen through increase in the price of DOGE. The value of the preferred token of the CEO of Tesla and SpaceX has more than doubled after the redemption, registers a gain greater than 100% over 7 days.

Muskwhich does not hide its support for Dogecoin, has previously already affected the price of the token on several occasions. The capitalization of DOGE today flirts with 17 billion dollars. A number of investors hope that same corner will soon be integrated into the social network.

NFT: hen with the golden eggs that flaps its wings

The launch of international brands on the market for NFT is not only for them the opportunity to dive into Web3. This is also an option to add a new line of income on their balance sheet. Nike performs very well in this regard. The primary sale is not the main source of income either. Thanks to royalties applied to secondary salesan average of 6.96% for Nike, the company ensures a comfortable income.

Crypto native players like Yuga Labs is also a resounding success. Galaxy Digital believes that the publisher has generated over 140 million dollars recipes via its various collections, including the Bored Ape Yacht Club. And again, these are royalties which are the most profitable. But in an NFT market that is suffering bear market, this fee seems to be less and less accepted on marketplaces. that zero royalties model advances and moves the lines. LooksRare therefore decided to make this payment optional, while compensating (partially?) the revenue loss for creators via another revenue sharing model.

Metaverse: France must look beyond the Meta Tree

The Minister of Digital Transition recently announced that the government would look into the regulation of NFTs and DeFi. But he also thinks about his strategy metaverse. In that context, he had commissioned a report from a trio of writers. They provided their conclusions and their recommendations for an effective metaverse strategy.

And the authors of warn against a distorted view of what the term metaverse covers, notably maintained by Meta, which is betting billions of dollars and this week unveiled a metaverse startup accelerator with L’Oréal. They believe that France has the assets to bring forward to stand out in this sector and on the two main axes which are virtual/augmented reality and Web3/blockchain/NFT. These two ecosystems, which are quite tight today, can be brought together and involved in concrete and large-scale projects. And why not on the occasion of the Olympics in Paris 2024?

Bear effect for a16z, Blockchain.com and Exclusive

The crypto winter has been affecting the industry for months. This affects the capitalizations of cryptocurrencies, but also the amount of fundraising and company valuations. Exclusive hoped to raise 10 million euros. He finally got half of this envelope, or 5 million euros.

The effects of bear market spare no actor. Thus the valuation of Blockchain.com, which was valued at $14 billion last spring, could drop to $3 billion as part of a new fundraiser. On the side ofa16z, if it has deep pockets, the balance in 2022 is sharply downward in terms of valuation. The venture capital firm’s flagship crypto fund is down nearly 50% in the first half of the year.

Google Cloud: from Coinbase to Ethereum… to get started

According to a16z is crypto can “break” Gafam’s power. In terms of capitalization, the Web 2.0 giants still largely dominate. But Web3 nevertheless interests these players because of its growth potential. Establishing yourself as a privileged technological partner is therefore not necessarily a bad calculation. That’s what the policy is for Google which, through its Cloud division, has joined forces with Coinbase.

With AWS and Microsoft, GCP is one of the dominant platforms in the public cloud market. Google is therefore withdrawing an offer dedicated to decentralized application developers for the network Ethereum. With its Blockchain Node Engine managed service, Google wants to simplify infrastructure management for them so they can focus on their core business and their users.

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