ConsenSys, an Ethereum-software firm that helped engineer the Merge, is co-launching with 18 other firms the Ethereum Climate Platform (ECP) at COP27’s UN Climate Change Global Innovation Hub. (COP27 is short for 27th Conference of the Parties of the UNFCCC. UNFCCC is short for United Nations Framework Convention on Climate Change. COP27 runs Nov. 6-18 in Sharm el-Shiek, Egypt.) Source
In this week’s newsletter, read about how the FTX contagion led to the sale of a collection containing high-ticket nonfungible tokens (NFTs). Check out the struggles in onboarding artists to Web3 through NFTs and find out about OpenSea’s decision to finally enforce royalties on all collections within its NFT marketplace. In other news, a tool that allows layer-2 networks to showcase NFTs on social platforms like Twitter was released. And don’t forget this week’s Nifty News featuring Nike’s Dot Swoosh NFT platform. FTX contagion victim Deepak.eth puts NFT collection up…
Other companies in addition to Matter Labs, like the research-oriented Scroll platform and the Ethereum juggernaut Polygon, are progressing on their own ZK-rollup platforms. Together, these firms represent the first cohort of a new class of so-called zkEVMS – ZK rollups which, unlike past applications of the technology (including an older version of the zkSync network), will be able to support virtually any program that runs on Ethereum. Source
“Bnk To The Future announces that its previously announced non-binding letter of intent with SALT Blockchain, Inc. (SALT) has terminated due to SALT’s position with FTX and for failing Bnk To The Future Due Diligence, and that the transactions contemplated thereby will not proceed,” according to a statement. “Bnk To The Future has no impact from neither Salt nor FTX as Bnk To The Future has no direct or indirect connection with SALT or FTX and all client funds are fully segregated and uninvested,” the statement added. Source
So, what is a person who has crypto locked inside Celsius to do? The short answer is to wait and see. Once bankruptcy proceedings are finalized, some or all of the funds owed by Celsius to its customers may be paid back. But until we know for certain how much, if any, will be returned to customers there is no allowable tax loss. The entire tax code revolves around realization events – the consummation of transactions that have an economic effect – which trigger recognition of income, deductions, gains and…
Nike’s “Dot Swoosh” platform lands Footwear and apparel giant Nike has unveiled its latest foray into the non-fungible token (NFT) and Metaverse space with the launch of an NFT marketplace named “.Swoosh” While .Swoosh is still in the beta phase, Nike announced that its “first digital collection” is set to launch on the eb3 platform in 2023, with the rest of 2022 devoted to growing the platform and user base. ✅ About .SWOOSH ♂️ .SWOOSH is a platform for @Nike‘s virtual creations, for them to be more accessible and to…
As for chatter that all or even a majority of BlockFi’s assets were held in custody – and therefore tied up for potentially a long time and perhaps even unrecoverable – the company said that is false. BlockFi, however, did acknowledge “significant exposure” in the form of obligations owed to BlockFi by Alameda, assets on the FTX platform, and an undrawn credit line from FTX. Source
“We are shaping a marketplace of the future with an accessible platform for the Web3-curious. In this new space, the .SWOOSH community and Nike can create, share, and benefit together,” Ron Faris, GM of Nike Virtual Studios, said in a press release. Source
The collapse of the FTX crypto exchange has sent shockwaves across the crypto industry. FTX’s trouble has caused the crypto market to tumble and the crypto community to worry about how the entire industry will be impacted. Crypto exchange Crypto.com said it had a $10 million exposure to FTX and Genesis, a trading firm, said it had $175 million in locked funds in its FTX trading account, plus many others have reported having exposure to FTX. Source
A Tokensoft community manager published an excel sheet of “bad actors” on Discord with their personal details. Source