DWF Crypto Snapshot
[22 Dec — 28 Dec, 2022]
Metamask Inches Closer To Being The De Facto Digital Wallet With Novel Non-EVM Solution
The popular Web3 digital wallet Metamask could only be used with Ethereum Virtual Machine (EVM) compatible blockchains, but a new non-EVM solution by Proximity Labs may set the precedent for its use on non-EVM chains. The team created a smart contract called NETH that is deployed on the NEar blockchain, and it enables Metamask to directly interact with NEAR decentralized applications.
GameFi and NFTs Take Top Spots In Attracting Venture Investment, According To The Block Research’s 2023 Digital Assets Outlook
Crypto-based media platform The Block released its latest 2023 Digital Assets Outlook report last Wednesday, and non-fungible token (NFT) and Web3 gaming-focused projects have been drawing investments with a total of USD$8.3 billion. On the same topic within the report, Web3 games will most likely focus on wallets and on-chain games, while NFTs take the spotlight with new types of assets and discussions involved.
Solana Network Picks Up In Terms Of NFT And GameFi Utility
Despite the downturn, NFT transactions on the Solana network have crossed US$50 million in terms of 30-day sales volume. This makes the Solana network the second largest in terms of NFT volume, with Ethereum being first and ImmutableX taking third place. Users on the Solana network can also look forward to new NFT features such as compressed NFT minting and Web3 game titles next year.
Memecoins Eager To Prove Utility With Baby Doge’s Latest Partnership
Memecoins might have taken a backseat after rising to fame in 2021, but the teams behind the tokens aren’t giving up on their projects just yet during the downturn. Baby Doge Swap, the decentralized exchange for the memecoin Baby Doge, has partnered with the DEX aggregator 1inch Network to become a new source of liquidity for the platform.
World Cup Event Shows Digital Assets Augment Experience For Football Fans
Argentina, the winner of the World Cup 2022, proved that fans are keen to collect digital collectibles and tokens associated with the Argentine Football Association throughout the global event. Fans traded the Argentine Football Association Fan Token and purchased $503,000 worth of NFT soccer trading cards on Sorare, which has led the association to explore digital meetups for fans and collectible opportunities in the metaverse.
BNB Chain’s Focus On Technological Improvements Pays Off By Surpassing Ethereum
The BNB Chains has taken the top spot for being the largest Layer-1 blockchain with its number of unique addresses on the BNB Chain beating Ethereum’s and hitting over 230 million users. The team behind its growth attributes this to significant technological advancements being made on the chain, such as multichain interoperability, BNB Sidechains and the zkBNB Testnet.
Institutions Leads The Charge In Making DeFi A Legitimate Financial Space, Says Chainalysis’ Latest Report
Chainalysis’ latest report shows that institutions are getting in on the action within the DeFi space. On-chain data show institutions moving their funds from centralized exchanges to non-custodial wallets after the FTX saga, and the same wallets are being used to interact with DeFi platforms for financial functions such as trading, investing, and lending.
