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Now let’s look at the overall marketing sentiment which is red throughout Crypto and Stock Market:-
Avalanche Up 16% After Network Launch of USDC Stablecoin
Avalanche (AVAX) is among the market’s biggest gainers following the platform’s integration with the USDC stablecoin.
AVAX, the native token of the Avalanche blockchain, is up 16.2% leading the charge in the reviving markets.
The token’s price began soaring on Tuesday after payments company Circle announced the deployment of its USDC stablecoin on the Avalanche network.
Avalanche is a smart contracts platform designed for building decentralized applications (dapps) and custom blockchains based on different use cases. The network boasts low transaction fees and fast confirmation times, making it an attractive network for all things decentralized finance (DeFi).
The number of users and developers has driven the total value of locked assets (TVL) across Avalanche-based DeFi projects to nearly $11 billion, according to data from Defi Llama. The ecosystem’s high of $13.79 billion came on December 2.
Commenting on the addition of USDC to the Avalanche blockchain, Circle said that “DeFi and other applications will now have access to native USDC liquidity, eliminating the need for costly token bridges and unsupported wrapped tokens.”
The Boston-based company added that USDC liquidity should also help fuel the rapid growth of the Avalanche ecosystem as more businesses turn to the popular stablecoin
Coinbase Plans 'Identity Tools' to Access the Metaverse, Store Your NFTs
Coinbase has big plans for the metaverse, but it may have to be careful that it doesn't come to be seen as a Facebook-like overseer of Web3.
On Thursday, Coinbase's CEO Brian Armstrong and an executive in charge of identity tools, Alex Reeve, published a blog post that set out the company's vision of the metaverse and its plans to operate there.
The most notable part of the blog post comes where they describe plans to provide users with NFT-based identity tools to enter the different realms that will make up the metaverse.
"At Coinbase, we want to help pull all the pieces of identity together—essentially creating an identity on-ramp into the Metaverse," reads the post. "That’s the idea behind our work with ENS, which makes it possible to create a unique username NFT that resolves to a wallet. Eventually, this will allow users to carry a unique ID across different worlds in the Metaverse."
Armstrong and Reeve added: "We’re also working on technology that will allow you to purchase your avatar, define and maintain your public profile, and establish trust. And we’re working on features like Sign in with [ETH/Coinbase], which could allow users to sign into every app in the Metaverse."
Gaming, Esports Stars Join Ethereum Game Ember Sword After $203M Metaverse Land Sale
The first major game maker to roll out in-game NFTs was met with backlash Tuesday from a crypto-wary public.
Virtual land sales are booming lately following Facebook’s metaverse push, but upcoming Ethereum-based fantasy game Ember Sword made a big statement even before the recent hype. The game sold more than $200 million worth of NFT land in July—and now its developer has raised new funding and recruited veteran game industry talent to deliver on its aims.
Last week, developer Bright Star Studio announced an investment round led by BITKRAFT Ventures that brings a number of veteran gaming and esports luminaries into the fold as investors—and a pair of them will also work with the team as advisors.
Rob Pardo, former chief creative officer at Blizzard Entertainment and lead designer of the enormously popular World of Warcraft, will serve as an advisor, along with retired esports player Dennis “Thresh” Fong, widely known as the first professional competitive gamer.
Ember Sword is also a massively multiplayer online role-playing game (MMORPG), like Blizzard’s genre-defining World of Warcraft before it, so Pardo could be a major addition to the team. It may also serve as a stamp of approval for traditional video game players, some of whom are vocally opposed to crypto games and NFTs.
Justin Sun Steps Down From Tron to Join Grenada Government
Please welcome His Excellency Mr. Justin Yuchen SUN, Ambassador, Permanent Representative of Grenada to the World Trade Organization !
Justin Sun will step down from his role as CEO of the Tron Foundation, the organization behind the blockchain network by the same name that he founded in 2017.
But Sun isn’t retiring to a fishing village to enjoy a quiet life off of his crypto riches. Instead, he’s preparing to fly to Geneva, Switzerland.
Sun will join the government of Grenada as its new full-time ambassador to the World Trade Organization, according to a press release from Tron
“It is a true honor to serve as the WTO ambassador for Grenada,” said Sun in a statement “I look forward to the opportunity to represent Grenada and work with WTO leadership to reinvigorate global trade in various ways, particularly the development of a robust digital economy internationally.”
Justin Sun is know for promoting crypto to influential names, and he pays generously for the opportunity if necessary.
In February 2020, he paid $4.5 million for the honor of having a meal with billionaire investor Warren Buffett (following a long delay after Sun said he had kidney stones). At the dinner, he gifted Bitcoin to Buffett who had previously called the cryptocurrency “rat poison squared.” Sun later apologized to Buffett for being “a big-mouthed over-marketer.”
Solana Ventures Launches $150 Million Fund for Crypto Games
Forte and Griffin Gaming Partners also tag in to help the next wave of NFT and play-to-earn games build on Solana.
With crypto game Axie Infinity now the top-grossing NFT project overall in terms of trading volume, major publishers and indie upstarts alike are turning their attention to how blockchain networks can transform gaming experiences. And Solana Ventures aims to make Solana a key destination for those builders with a sizable investment fund.
Today, Solana Ventures announced an alliance with Forte and Griffin Gaming Partners to collectively invest $150 million towards Web3 games built on Solana.
This isn’t even the first significant gaming investment fund announced by Solana Ventures recently. In early November, the firm announced a $100 million co-investment fund alongside crypto exchange FTX and VC firm Lightspeed Venture Partners focused on crypto games. Its first co-investment was in startup game developer, Faraway.
Along with Faraway’s web-based first-person shooter, Mini Royale: Nations, the Solana blockchain will play host to an array of upcoming crypto games, including sci-fi simulation Star Atlas and play-to-earn fantasy game, Aurory.
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Disclaimer: This is not financial advice or recommendation for any investment. The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice