Top Stories

Telegram is launching a crypto wallet called TON Space for its 800 million users, reviving its crypto plans after a legal battle with the SEC in 2020. The wallet will roll out globally, excluding the U.S., and TON projects will receive priority access to Telegram Ads. This aligns with Telegram's focus on digital ownership and Web3 integration. (link)

MetaMask is extending its usability beyond Ethereum and Ethereum-compatible blockchains by introducing a new mechanism called Snaps. Snaps are modules that can be integrated into MetaMask to make it compatible with various non-EVM blockchains like Cosmos, Solana, Tezos, and more. Over 34 Snaps are set to be released initially, with third-party developers able to create and maintain their own. This expansion aims to increase MetaMask's versatility and usage across different blockchain networks. (link)

Unity, a popular game development platform, will implement per-install fees starting January 1, 2024, which has sparked criticism and concerns within the game industry. These fees could impact indie developers and installations made through services like Xbox Game Pass, potentially hurting the viability of business deals around the platform. Unity later stated it intends to pass on these costs to platform holders like Microsoft for installations via subscription fees. Some developers have announced plans to move away from Unity due to these changes. This shift comes as Unity aims to improve profitability and compete with other game engines. (link)

EU / Regulations : The European Parliament has passed DAC8, a regulation introducing tax reporting requirements for cryptocurrency transactions across the European Union (EU). The rule mandates crypto-asset service providers and operators to report transactions involving EU clients to the EU's tax authorities. It's expected to raise between €1 and €2.4 billion in additional tax revenue annually. The reporting requirements will start on January 1, 2026, allowing time for MiCA (Markets in Crypto-Assets) regulation to be in place.(link)

GameFi

DFZ Labs / Unity : DFZ Labs, behind Deadfellaz NFTs, is teaming up with Unity for a digital trading card game to expand their brand through gaming. Unity, known for Pokémon Go and Call of Duty, will release an alpha version next year. Deadfellaz NFTs have generated over $100 million in trading volume on Ethereum. (link)

NFL Rivals : Mythical Games' NFL Rivals, in partnership with the NFL, was spotlighted on Apple's App Store, leading to a surge in its daily users. Launched in April 2023, the game now boasts over 2 million players and has crossed $1 million in trading volume. Mythical is also pivoting its Blankos Block Party game to a mobile-first approach. Additionally, their Nitro Nation World Tour game, released in August 2023, appeals to both traditional and web3 gamers. (link)

Pixels : Web3 game Pixels is moving from Polygon to the Ronin blockchain by Sky Mavis, known for Axie Infinity. Ronin offers lower fees and marketing support. The migration reflects Ronin's recovery, and it aligns with Sky Mavis's Web3 gaming success, without direct payment involved. (link)

Axie Infinity's Homeland pre-beta phase is live, bringing major changes to the game. Players can now earn AXS through various in-game activities, and the new Moonfall mechanic adds excitement. The game is transitioning towards a self-sustaining economy, with rewards no longer dependent on leaderboards. This marks a significant step in creating a more engaging and equitable experience for players. (link)

Rumble Kong League (RKL) is teaming up with Stance to release NFT HyperSocks, bridging the digital-physical gap. They're launching a 3v3 basketball game with Rumble Kongs NFT characters to attract mainstream gamers, while focusing on scalability with the Avalanche blockchain. An augmented reality contest encourages real-world participation. (link)

NFTs

Panerai : Italian luxury watchmaker Panerai will introduce NFT-based "digital passports" with watch purchases from October 3. These passports verify watch authenticity, transferable to new owners, and track the watch's history, combating counterfeiting. They also extend warranties and offer added services, part of Panerai's efforts to enhance the client experience with Web3 technology. (link)

The SEC has charged Stoner Cats 2 (SC2) with conducting an unregistered offering of crypto asset securities related to the sale of NFTs that raised $8 million. SC2 sold over 10,000 NFTs in July 2021, emphasizing potential benefits and involving actors. The SEC alleges that SC2 violated securities laws by offering these crypto asset securities without proper registration, but some critics argue that the SEC's terminology lacks clarity. (link)

Diesel is launching a limited edition NFT collection, "Metamorph," in collaboration with Public Pressure. Priced at $60 each, these NFTs provide access to Diesel's Milan Fashion Week show, the opportunity to purchase limited edition Metamorph watches, an exclusive soundtrack, and access to music events. This initiative explores the fusion of fashion and technology while aiming to offer artists fairer revenue shares through blockchain technology. Previous Diesel NFT drops have sold out rapidly, and the NFTs will be available on Public Pressure's marketplace. (link)

The Pudgy Penguins NFT collection is set to debut at Canada's Richmond Night Market to mark the launch of TheFunPass, a new digital rewards program. The Richmond Night Market is North America's largest and attracts millions of visitors each season. Pudgy Penguins will introduce their game at the event, offering attendees the chance to win branded items and interact with the Pudgy Penguins brand in real life. TheFunPass aims to bridge the gap between the physical and digital worlds, offering users immersive experiences and benefits, while also providing event organizers with tools to enhance engagement. (link)

Binance NFT is discontinuing support for Polygon NFTs, sparking concerns. Binance cited product streamlining as the reason, effective from September 26. Speculation suggests regulatory pressures and concerns about Polygon's unregistered security status may be behind this decision. Polygon is a major player in the NFT space. Despite uncertainties, Binance's CEO, Changpeng "CZ" Zhao, reassures users of the exchange's safety. (link)

DeFi

Circle, the company behind the USDC stablecoin, has integrated its USDC stablecoin into the Cosmos ecosystem via the Noble Mainnet connection. This expansion enhances the accessibility and usability of USDC within the Cosmos network, with a total supply of 1.88 million USD. Users can easily exchange Noble USDC for USDC on various supported blockchains, contributing to the growth of decentralized finance (DeFi) applications. USDC's stability and reliability make it a popular choice for digital transactions. (link)

Ledn : Crypto lender Ledn is introducing 8.5% APY USDT savings deposits in early October, and existing USDC savings are transitioning to these new Growth Accounts. Borrowers must over-collateralize their loans, and Ledn will use the funds from the Growth Accounts as collateral. This move aims to provide transparency and protection in response to the instability seen in some centralized lending platforms in 2022. (link)

Synthetix is launching Infinex, a decentralized perpetual futures exchange front-end, in Q4. It aims to simplify DeFi trading and reduce friction for users, making it as user-friendly as centralized exchanges. Infinex won't impose KYC or geoblocking restrictions initially, leaving such decisions to decentralized governance by SNX token holders. (link)

OpenCover, a decentralized insurance provider for crypto and Web3 platforms, has launched on the Base blockchain, built by Coinbase. OpenCover is working with Nexus Mutual to offer insurance-like coverage for DeFi platforms. It raised $4 million in a seed round, including $200,000 from Coinbase, and aims to provide protection against protocol failures in the crypto space. (link)

The Tokenized Asset Coalition, backed by companies like Coinbase and Circle, is promoting blockchain technology for tokenizing traditional financial assets. They aim to bring a trillion dollars in assets onto the blockchain through education and advocacy. Tokenized assets could disrupt traditional finance systems and grow to a $16 trillion market by 2030, according to Boston Consulting Group. The coalition believes blockchain offers superior efficiency and transparency compared to legacy systems.(link)

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