Top Stories

Web3 Gaming Investments : After a dip in June due to challenges in the market, Web3 gaming investments surged to $297 million in July. The sector saw 712,611 unique active wallets daily, slightly down from the previous month but still accounting for 41% of the industry's activity. Infrastructure projects secured the majority of investments at 63%, while gaming and metaverse initiatives received 37%. Notable players include WAX with the game Alien Worlds, BNB Chain, SKALE, and Flow, highlighting the appeal of innovative revenue models and immersive gameplay in the Web3 gaming landscape. (link)

Visa is experimenting with a new approach to simplify Ethereum transactions by allowing users to pay on-chain gas fees using a Visa card. The method uses a smart contract called a "paymaster" to process off-chain payments for gas fees. Users initiate a transaction through their wallet, and a web service calculates the gas fee, charges the Visa card, and sends back a digital signature for approval. This eliminates the need for users to hold ETH solely for paying fees, making transactions more convenient. The concept could have broader implications for enhancing the customer experience in the blockchain space. (link)

Binance Connect : Binance has announced the shutdown of its crypto buy-and-sell service, Binance Connect (formerly Bifinity), just a year after its launch. The service, which aimed to help businesses become "crypto-ready" by allowing merchants to accept payments in cryptocurrency, will be disabled on August 16. Binance stated that this move is part of their strategy to refocus on core products and long-term goals. (link)

Coinbase / legislation : Coinbase has launched the "Stand with Crypto Alliance," an advocacy group aiming to involve the crypto community in upcoming U.S. Congressional votes on crypto legislation. The alliance seeks to emphasize sensible regulation and consumer protection. This move coincides with pending bills in the House and follows Coinbase's legal tussle with the SEC. (link)

GameFi

The Sandbox has launched the Heroes vs. Villains Game Jam, inviting developers to create games based on the theme of heroes and villains. Participants can't use copyrighted material and need at least 5 minutes of gameplay with 25 unique assets. The prize pool includes 50k $SAND, distributed among the top 10 winners and 3 categories. The winner gets 10k $SAND. Submissions are open until August 27th. (link)

Major game publishers like Square Enix, Electronic Arts, Nexon, Sega, Krafton, Zynga, Ubisoft, NCSoft, Bandai Namco, Com2us, and Wemade are entering the NFT gaming space, exploring blockchain games and integrating NFTs into their titles. Examples include Square Enix's Symbiogenesis, Electronic Arts' .Swoosh NFTs, Nexon's MapleStory Universe on Polygon, Ubisoft's NFTs in Tom Clancy’s Ghost Recon Breakpoint, and Zynga's Web3 gaming division. This shift is particularly prominent in Asia, where these publishers are actively embracing Web3 gaming. (link)

Zynga, famous for games like Farmville, is launching its first blockchain game, "Sugartown." The game uses Ethereum NFTs to introduce players to 'Oras' creatures in a unique dimension. Holding Ora NFTs grants access to the game and in-game minigames. The release date for Sugartown is yet to be announced, but the Ora NFT collection is expected later this year. Zynga aims to target the Web3 market and build a community of Ora NFT holders.(link)

ZTX has secured $13 million in seed funding for its Web3 virtual world and creator platform. Leveraging its legacy from Zepeto with over 400 million users, ZTX aims to drive web3 adoption and offer infrastructure for creators. The team includes professionals from major companies and the upcoming token launch will support their metaverse vision. (link)

Decentraland is collaborating with AI startup Inworld to introduce AI-powered NPCs into its Ethereum-based metaverse game. These NPCs respond to queries and enhance immersion. Creators can design their own NPCs with backstories. Decentraland sees AI as a tool to streamline creation and education. They're also launching SophiaVerse for learning about AI, and planning an AI World Fair event. (link)

NFTs

Coca-Cola has entered the NFT market by launching an exclusive series on the Base blockchain that blends iconic artworks with its bottle silhouette. This innovative approach combines traditional art with contemporary branding, showcasing the brand's willingness to evolve while celebrating global art. Collectors can mint these limited edition NFTs for just 2 days, with prices ranging from 0.0011ETH to 0.014ETH. Coca-Cola's move highlights the trend of established brands embracing digital art and blockchain to engage with audiences in new ways, reflecting its commitment to modernity and legacy. (link)

Adidas Originals and BAPE launched a limited-edition sneaker collab named Triple-White Forum 84 BAPE Low. They're auctioning 100 NFTs for the sneakers, which also include a digital version for the metaverse. The sneakers feature BAPE's designs, with an NFC chip for authenticity. The auction runs from August 22 to 25, with NFT holders and community members having bidding advantages. (link)

Coinbase and Crossmint are collaborating to simplify NFT onboarding, particularly for Base's Onchain Summer NFT project. Crossmint offers a holistic NFT integration solution for businesses. This partnership aims to make NFT purchases as easy as online shopping using fiat payments, leveraging Coinbase's user base and Crossmint's NFT infrastructure. The goal is to streamline the onboarding process for the NFT drops featuring brands like Coca-Cola and Atari. (link)

Luxury Brands, NFTs, Crypto Divide : Tapestry, which owns Coach and Kate Spade, is acquiring Capri Holdings, parent of Versace, in an $8.5 billion deal. This merger highlights the divide between European luxury brands, embracing technologies like blockchain, and cautious American brands. European brands like Gucci have launched NFT products, while American brands like Coach have been more reserved. Tapestry's approach to tech integration will impact the trajectory of American luxury. (link)

Salvator Mundi, a $450 million painting linked to Leonardo da Vinci, is being stamped as an NFT in collaboration with ElmonX and Bridgeman Images. This move follows the conversion of other classic artworks into NFTs. The transition aims to offer an immersive digital experience for art enthusiasts. (link)

Defi

Compound, a DeFi lending platform, has launched on Ethereum Layer 2 network Base, letting users borrow USDbC stablecoin using ETH as collateral. SushiSwap V2 is also joining Base. Uniswap integrated its V3 on this network last week. Base, launched on August 9, has over 100,000 daily users and rising transactions.(link)

Frax Finance has introduced Frax Ether V2 which lets anyone become validators by using ETH as collateral. This decentralized system resembles a lending market, where borrowers control validators and earn rewards through market-driven interest rates. It aims for efficiency without relying on trust, unlike curated systems like Lido. (link)

MakerDAO's founder Rune Christensen proposed creating a governance token for Spark lending protocol. This plan involves distributing two billion Spark (SPK) tokens over a decade to incentivize long-term user engagement. Spark Protocol sources liquidity from Maker for DeFi loans and aims to become a subDAO within MakerDAO's framework. Tokens will go to Spark borrowers based on collateral, encouraging platform use despite a 5% yield on Dai deposits, which was previously 8%. (link)

Binance Labs / CRV :  Binance Labs , the venture capital arm of Binance, has invested $5 million in Curve DAO Token (CRV), an Ethereum-based token powering the Curve ecosystem, a major stablecoin exchange in DeFi. Binance's investment signifies their commitment to shaping the DeFi industry's future in collaboration with Curve. This move is set to drive growth in both Curve and BNB Chain's DeFi ecosystem. Following the news, CRV's price increased by 6%. (link)

PancakeSwap, a decentralized exchange, has expanded by joining Ethereum scaling network Arbitrum to attract more users and revenue. This move offers lower fees and faster transactions. The exchange is already active on various blockchains and aims to drive DeFi adoption through scalability. PancakeSwap's native token, CAKE, trades at $1.50 with minor changes. (link)