Worldwide Web3 Wonderland | Edition #33 – June 2023
Summary of news from 1st to 14th July 2023
Happy Friday, fellow adventurers in the virtual realm!
Whether you're a seasoned explorer or a curious newcomer, prepare to be captivated by the wonders of web3 in this electrifying edition of our newsletter. We will be your trusted guide through the labyrinth of decentralized finance, NFT mania, blockchain gaming, and the mind-boggling possibilities of smart contracts. Our goal is simple: to keep you informed, inspired, and one step ahead of the ever-evolving world of web3.
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We interrupt our usual segment of delivering the freshest of headlines from the web3 sphere to bring you an enticing treat: our latest blog exploring Adyen's Embedded Finance Playbook!
Both Stripe and Adyen have been dominant forces in the payment processing landscape for quite some time. However, they are now seeking the next major breakthrough to sustain their success. And guess what? They have struck gold with Embedded Finance and are fully embracing this trend!
Uncover how these two industry giants, despite their distinct starting points, are coming together to serve small and medium-sized businesses and leverage embedded finance as their weapon of choice.
Now, for our curated collection of the #Top10 noteworthy web3 news stories of July, ensuring you stay well-informed about the latest developments in the web3 universe:
Ripple's courtroom triumph against the SEC is a game-changer for the crypto world, bringing much-needed regulatory clarity. The U.S. District Court ruled in favour of Ripple on 3 counts, while 1 went against them. This victory ignited a surge in XRP's value and sparked a frenzy of interest in listing the token. While some legal questions still linger, Ripple's win sends a powerful message about the evolving landscape of digital assets and their legal standing.
Microsoft and Axelar Network have joined forces to build hybrid blockchain solutions and collaborate on artificial intelligence initiatives, with the goal of creating a more integrated and intelligent web3 ecosystem. By harnessing the cross-chain communication network of Axelar and the expansive Microsoft Azure platform, Microsoft aims to enhance the experiences of both web3 developers and users. Additionally, Google Play has implemented a policy update allowing developers to integrate digital assets, including NFTs, into their apps and games. This change promotes transparency and responsible blockchain utilization, fostering fairness and trust among users. It also signifies Google's support for web3 applications, as demonstrated by the inclusion of ArDrive Mobile and Axie Infinity:Origins in specific markets.
Coca-Cola Serbia teamed up with Solsea, a Solana-based NFT marketplace, to offer branded merchandise and NFTs at the EXIT Festival. The collaboration includes a “Magic Mirror” installation, exclusive clothing items, and Coca-Cola Serbia-themed NFTs. Similarly, Starbucks partnered with Aku, an NFT collection, to create a digital collectible Stamp, highlighting Starbucks’s dedication to technology innovation and social impact through addressing childhood food insecurity.
The Bank of England partnered with Nuggets, a decentralized identity technology firm, to develop a privacy and identity layer for the future digital pound. The collaboration aims to prevent transaction tracking, fraud, and money laundering in retail central bank digital (CBDC) payments. Meanwhile, the People’s Bank of China (PBoC) introduced an offline SIM card-based digital yuan “hard” wallet solution, enabling users to make CBDC payments even when their phones are powered down, expanding accessibility to 2G phone users.
a16z crypto, Andreessen Horowitz's crypto-focused fund and rapper Snoop Dogg participated in a $20M Series A funding round for Sound, a web3 music platform. Sound aims to revolutionize revenue models for artists by allowing them to mint songs as NFTs and sell them directly to fans using Ethereum and Optimism for payments. At the same time, Binance Labs invested $15M in Xterio, a web3 game platform, and Mythical Games raised $37M in Series C1 funding. The web3 revolution is in full swing, transforming the music and gaming industries!
Web3 Word Of The Week: Verifiable Random Function
A verifiable random function (VRF) is a special type of mathematical function that generates a random-looking output with a proof, allowing independent verification of the output's authenticity and hasn't been tampered with. This unique feature makes the VRF special in its ability to generate accurate and reliable results.
That's all for now!🤘
We hope you enjoyed this edition of the Worldwide Web3 Wonderland!
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