DeFi Weekly | Coinbase will launch the NFT market at the end of the year

DeFi data

1. The total market value of DeFi: $139.136 billion

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The price of the top ten currencies by market capitalization and the change this week, data source: CoinGecko

2. 24-hour trading volume of decentralized exchanges: US$4.43 billion

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Data source of DEX transaction volume in the past 24 hours: Debank

3. Total borrowings of DeFi lending platform: US$28.41 billion

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The proportion of loans in each DeFi lending platform Data source: Debank

4. The total value of locked assets in DeFi reaches US$99.93 billion

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DeFi ranked top ten lock-up volume data source: DeFi Pluse

Important DeFi developments:

Solana’s ecological DeFi platform Apricot Finance will be launched on the mainnet on October 19

Golden Finance reported that Solana’s ecological DeFi platform, Apricot Finance, announced that it will launch its mainnet on October 19th at 10 o’clock in the US Eastern Time (22 o’clock in Hong Kong time). Early users who participate in lending and mining will receive retrospective rewards.

Head of South Korea’s Financial Intelligence Agency: Paying attention to the regulations on DeFi and NFT

On October 13th, Kim Jeong-gak, head of the South Korean Financial Intelligence Unit (FIU), said in an interview with Maeil Kyungjae that South Korea is paying attention to the upcoming proposals of the Financial Action Task Force (FATF) regarding the future of NFT and DeFi. He said, “We will work with relevant departments to consider how to regulate these two areas, and adopt (amend) the financial law to reflect these (decisions).”

Managing Director of Bain Capital: DeFi will dominate the future financial model

On October 13th, Matt Harris, managing director of Bain Capital, stated at the SIBOS meeting that DeFi will dominate the future financial model. He outlined three fundamental changes in financial services, first, the transition from analog to digital, then the evolution from discrete products to embedded services, and finally, the disruptive change from a centralized platform to a decentralized network. . And as cryptocurrency and web 3 enter the mainstream, the last part of this complete revolution is already on track. He said: By 2040, we will largely end the current bad trading situation of fiat currencies, that is, we will provide capital to the government for free, and then let the government use inflation to devalue the capital. DeFi will change this situation. Our assets will always be in a 100% investment state and will be completely connected through the stable currency mechanism.

BTC DeFi project Portal will launch a public equity sale on Republic at the end of October

On October 13th, the BTC DeFi project Portal announced that it will launch a public equity offering on Republic at the end of October. Investors can then use BTC, USDT, USDC, ETH or legal tender to provide funding for this public offering. This public offering There are 1900 participating places. Portal is a DeFi project based on the BTC network. It previously announced the completion of a $8.5 million financing round on September 22. This round of financing was led by Coinbase Ventures with participation from OKEx Block dream Ventures, Republic, LDCapital, and GenBlock.

DeFi platform Vesper Finance launches beta version in Polygon

On October 13th, Vesper Finance, a DeFi platform focused on ease of use, announced the launch of a test version on the Ethereum expansion solution Polygon, which supports USDC, DAI, WETH and WBTC fund pools. The agreement will benefit from platforms such as Aave and Curve. Vesper said that after the official version on Polygon is launched, VSP token rewards will be issued to participating users. The mechanism will be similar to the mechanism when the Ethereum mainnet is launched. In addition, Vesper also plans to successively support EVM chains or Layer 2 networks including Avalanche, Arbitrum or Fantom after being successfully deployed to Polygon .

TV personality Kevin O’Leary: The foreign exchange market is a multi-billion dollar use case for DeFi

According to news on October 14, Canadian businessman and TV personality Kevin O’Leary said that the foreign exchange market is a multi-billion-dollar use case for DeFi. This blockchain technology can eliminate the need for intermediaries, thereby revolutionizing financial services.

The founder of Top Hat established Gadze Finance, a DeFi crypto fund, and is in the process of $1.6 million in equity financing

On October 14th, Mike Silagadze, the founder and former CEO of Top Hat, turned his attention from digital education to crypto investment and established a new asset management company. Silagadze, along with former Top Hat employee and Checkout 51 founder Andrew McGrath, created Gadze Finance in the past few months. In early October, the company launched a DeFi crypto fund with an initial management scale of US$25 million. Gadze hopes to expand to US$100 million in the next six months and introduce some new investors, including individual and institutional investors. BlueCat co-founders Richard Hyatt and Michael Hyatt participated in the investment in Gadze as part of Gadze’s $1.6 million equity financing expected to close later this month. Gadze will use this financing to help its fund start. This round of equity financing was led by Boris Wertz, founder of the venture capital firm Version One Ventures. Version One’s fund and Purpose Investments also participated in the investment.

Web3.0 digital identity DeFi application wallet Nabox will soon launch the test version of SwapBox

On October 16th, the Web3.0 digital identity DeFi application wallet Nabox announced that the beta version of SwapBox will be launched soon. SwapBox is a Swap tool that integrates multiple pools and cross-chain functions.

NFT

Rapper Kanye West’s mural will be sold as NFT on Avalanche

Golden Finance reports that the artist Jason Peterson, who recently created a mural of the American rapper Kanye West in Chicago, is selling this artwork on the Avalanche blockchain as an NFT. The NFT will be sold on YeaProbablyNothing, a new market recently developed by Peterson, NFT startup Kalao, and Ava Labs. The NFT auction will be held at 1 p.m. Eastern Time on October 11 and will end at 1 p.m. on October 22. It is reported that the owner of the NFT will link to the artwork through the QR code located on the physical mural, and the ownership of the NFT will be visible on the Avalanche blockchain at any time.

SoftBank’s NFT fantasy football game Sorare has a total deal value of over $100 million

Golden Finance reports that according to the latest data, the total transaction volume of the NFT fantasy football game Sorare has exceeded 100 million U.S. dollars, setting a record high. At the time of writing this article was 100,063,080 U.S. dollars, with a total of 552,108 transactions. At the end of September this year, Sorare completed a US$680 million Series B financing with a valuation of US$4.3 billion. The lead investor was the Japanese investment giant SoftBank Group. The participants included Atomico, D1Capital, Bessemer Ventures, Eurazeo, IVP, Hillhouse, Liontree, Accel, Benchmark, Headline, and many stars including Gerard Piqué, Antoine Griezmann, Rio Ferdinand and César Azpilicueta.

Oscar actress Reese Witherspoon: I have purchased my first NFT, hope to learn more

On October 12th, Oscar-winning actress Reese Witherspoon posted on her personal social media that she had just purchased the first NFT and learned a lot of new things, and wanted to learn about the NFTs created by those amazing female creators. Hollywood actress Reese Witherspoon has participated in many well-known film and television works including “A Wonderful Night at the Museum 2” and “The Lawful Beauty” series. The performance won the 78th Oscar for Best Actress.

Chris Dixon, partner of a16z: NFT is a virtual commodity that users can truly own and carry with them through the Internet

Golden Finance reported that a16z partner Chris Dixon said on Twitter that NFT is a virtual product that users can truly own and carry with them via the Internet. It may take a while for the use of Web 3 wallets and NFTs to be widely accepted, which of course is obvious Yes, if you personally don’t like virtual goods, it’s okay, but many people like it, including me. Some community users responded that once the power consumption problem is solved, the virtual knowledge market will come into play. Chris Dixon also responded and pointed out that the power consumption in the Proof of Stake (PoS) network is very small.

Coinbase will launch the NFT market at the end of the year

Golden Finance reported that Coinbase announced on Tuesday that it would launch the NFT market “Coinbase NFT”, and a waiting list has been released. This new product, led by Sanchan Saxena, Vice President of Products at Coinbase, will allow users to cast, purchase and showcase NFTs. Initially it will support Ethereum-based NFTs, but plans to expand to other chains after launch. According to a spokeswoman, the platform will use self-hosted wallets, so users do not need to pass KYC checks. The company will not disclose the fees, but plans to share these details before the platform is officially launched. According to sources, Coinbase’s NFT platform is expected to be launched by the end of this year.

NFT online market Zora now supports the display and sales of any NFT

On October 13th, the NFT online market Zora announced that it supports the display and sale of any NFT. Previously, it only supported the display of NFTs minted from the Zora contract. However, the NFT minted on other contracts will be displayed gradually along with the contract. In addition, Zora will not charge any fees from activities such as NFT casting and sales.

Sotheby’s launches selected NFT platform “Sotheby’s Metaverse”

Golden Finance reports that the British auction house Sotheby’s has launched a selected NFT platform called “Sotheby’s Metaverse”, allowing visitors to view the digital art in auction and understand the collection behind the NFT Home and artist. The platform will include selected NFTs from the Sotheby’s team and allow individuals to purchase NFTs using ETH, BTC, USDC or fiat currencies. According to the auction house, future features will include dynamic auctions and the ability to produce artworks. “Sotheby’s Metaverse” will hold its first auction from October 18th to 26th. The collection is titled “Natively Digital 1.2: The Collectors”. The series contains 53 works from 19 NFT collectors. Sotheby’s new platform is supported by Mojito, a business suite used to create the NFT market, providing fiat and encrypted payments and minting functions.

Fox Entertainment Gives Out 20,000 NFTs of “The King of Masked Singer”

Golden Finance reported that on October 14, Fox Entertainment launched an NFT series based on the popular singing contest “The King of Masked Singer”, which sent 20,000 NFTs in less than 24 hours. Fox has invested $100 million in its new Blockchain Creative Lab division, which is responsible for processing NFTs. Yesterday, 10,000 free “Miss Masky” NFTs in the “The MaskVerse” series were claimed by fans within 10 hours. Fox sent out another 10,000 today. It is reported that each of the ERC-721 and 1155 collections has a role in the TV series of a masked singer and is minted on the Eluv.io blockchain. In exchange for NFT, users must register their digital wallet on MaskVerse. On October 20th, Fox plans to unlock the market where fans can buy, sell and trade the “Masked Singer” NFT. In order to build an emerging cryptocurrency community, Fox is launching a Discord server managed by Collab.Land. With the launch of the NFT of “The King of Masked Singer”, Fox is collaborating with the creator of “Rick and Morty” Dan Harmon , To produce a block chain-curated cartoon “Krapopolis”, which will feature NFT collections.

Shib officially releases NFT “THE SHIBOSHIS” on October 15th

On October 15th, Shib’s official NFT “THE SHIBOSHIS” was released on October 15th, Beijing time, with an initial casting price of 0.1ETH. This series of NFTs is limited to 10,000 pieces and is now available on OpenSea . The floor price is now 0.9ETH.

Oreo launches “NFO” Digital Oreo Cookies NFT

News on October 15th, Coffee Coffee Technology and Oreo jointly launched the “NFO” (NFTOREO) digital Oreo cookie NFT. Currently, NFT biscuits can be obtained by participating in a lottery in the Oreo official mini program “Oreo Play Heart Little Universe Mall”. It is reported that the “NFO” Oreo digital biscuits launched this time have issued a total of 5,000 copies, which are not for sale. Each user (single ID) can only have one “NFO” digital biscuits.

Axie Infinity becomes the largest NFT collectible by transaction volume in the third quarter

Golden Financial reported that Axie Infinity’s transaction volume reached 2.08 billion U.S. dollars in the third quarter of 2021, surpassing NBA Top Shot and CryptoPunks , becoming the NFT collection with the largest transaction volume in the previous quarter. According to data from DappRadar, the average daily value of unique active wallets for dApps reached 1.54 million in the third quarter. Among them, the number of unique active wallets attracted by the “play while earning” game reached 754,000 on average every day, an increase of 140% from the previous quarter, including Hive. Blockchain networks including, BSC, and WAX also benefit from the trend of “playing and earning” games. Since turning to Ronin’s sidechain solution, AxieInfinity has performed better and better. According to SkyMavis, the development company behind this game, AxieInfinity had more than 1.5 million active users in the third quarter and game revenue exceeded $776 million, easily surpassing it. BSC blockchain and even Bitcoin revenue.

NBA star O’Neill: NFT is a good way to let people understand encryption technology

Golden Finance reported that NBA star Shaquille O’Neal said in an interview that NFT is a good way to let people know about encryption technology. People need to interact with encryption in a practical way to understand it. According to previous reports, O’Neal’s personal NFT series was released on Ethernity on October 15. The series contains five different NFTs, reflecting different moments of O’Neal’s NBA career.

NFT game My DeFi Pet and MakerDAO reached cooperation

On October 16th, the NFT game My DeFi Pet and MakerDAO have reached a cooperation, and its upcoming NFT market will support the stable currency DAI. Players will be able to get DAI as a reward by completing tasks in the game. PVE and PVP battle modes with special requirements will be launched soon, which will give players a chance to obtain DPET and DAI. In addition, due to its stable value, DAI is a popular cryptocurrency in the market and can be easily transferred across the globe. Therefore, the integration of MakerDao will bring stability to the ecosystem of My DeFi Pet in the BEP20 and KRC20 game servers.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/defi-weekly-coinbase-will-launch-the-nft-market-at-the-end-of-the-year/
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