Umbria’s Crypto News Digest — October 12th-18th
Azuki launches ‘Scan-to-Own’ concept with Physical Backed Token ($PBT)
Anime-inspired NFT project Azuki is further blurring the lines between the physical and digital worlds. Its BEAN cryptographic chip unlocks a ‘scan to own’ experience. Users scan the chip with their phone to mint or claim a new physical backed token (PBT), which connects a digital token to a physical item.
PBT enables decentralisation authentication and tracking of the full ownership lineage of physical items all on chain. On October 21st, the project is launching its first physical drop with PBTs: a series of nine 24 karat gold-plated skateboards.
Read more here.
Binance launches first in a series of CoinMarketCap partnered indices
Binance — the world’s largest cryptocurrency exchange by daily trading volume — has launched the Binance CMC Top 10 Equal-Weighted Index. This marks the first in its series of CoinMarketCap (CMC) partnered indices. This specific one tracks the performance of the top ten digital assets by market capitalization on CMC and will be available from November 2022. Anyone will be able to purchase digital assets in the Index via Auto Invest Protocol.
The ‘Equal-Weighted Index‘ will be rebalanced monthly, and is designed to help investors evaluate price and performance. Furthermore, users can expect additional indices to be launched in the future to encompass “more digital assets in a diverse set of products.”
51% of Ethereum blocks compliant with OFAC standards
Censorship is becoming an increasing concern within the Ethereum ecosystem with the blockchain having just hit a new censorship milestone. From Friday 14th October, over half the blocks produced over a 24-hour period followed the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) compliance recommendations.
This begs the question of whether this is the future of Ethreum where everyone will be profit-incentivised to ‘follow the rules.’
Read more here.
Zed Run World Cup
ZED Run is hosting a month-long celebration inspired by the 2022 World Cup. Zed Headz can represent their country and take part in team and individual challenges for a chance to win prizes in wETH and NFT packs from Zed Run partners. To take part in the challenges, participants will need to own one of 32 ZED RUN World Cup skins (inspired by each nation playing in the competition) and attach it to a ZED RUN racehorse that they own.
Read more here: https://win.zed.run/wc22/
And don’t forget where you can bridge to wETH cheapest👇🏻
OpenSea marketplace live on Avalanche
In another key advancement towards a multi-chain future, OpenSea announced that it had launched support for Avalanche. This gives creators on the network an additional high profile marketplace to display, list and trade NFTs and gives OpenSea users outside of Avalanche greater access to the NFT community on the AVAX network.
“The future of web3 is multichain; and it’s always been our goal to offer the best selection and connect people with projects and creators across the chains they prefer,” Shiva Rajaraman,” VP of product at OpenSea
Read more on this story here.
Fantom showcases its GameFi credentials
The future is looking bright at Fantom Foundation. The platform has revealed a list of just some of the GameFi projects building on the Fantom blockchain, which demonstrates nicely how a bear market is a build market. In a separate post from last month, community manager Nick.ftm gives the rundown on the games to have on your radar.
Offchain Labs expanding Arbitrum project with Prysmatic Labs acquisition
Offchain Labs, the group behind Layer 2 heavy-weight Arbitrum, has bought Prysmatic Labs — one of the core development teams that architected The Merge. The move marks a marrying of prominent Layer 1 and Layer 2 teams.
The future of Ethereum relies on Layer 1 for consensus and data availability, and layer 2 for execution and scalability. A sustainable future for Ethereum, needs not only greater communication between teams developing on both layers, but more direct collaboration as well.
Read more here.
Optimism Demo Day — October 19th
The Optimism ecosystem is expanding in terms of number of projects and TVL. To showcase all the exciting developments on the network, it hosts. Optimism Demo Days. These happen every two weeks at 4 PM CET in their Discord.
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Until next week!
The Umbria Team 🚀