The Metaverse Daily for July 11, 2022
- Let’s tackle DeFi news Over the past weekend, the Metaverse Index saw a significant decrease, sliding from $40.46 down to $37.57. Conversely, the Bluechip NFT Index has shown positive growth, reaching 34.33 ETH, whereas the Metaverse Land Index faced a downturn, now trading at 1.82 ETH.
- The cryptocurrency market is not looking great as many coins have experienced losses over the weekend. Bitcoin, while still above the $20k threshold, has seen a 3.20% drop, putting it in jeopardy of falling below this critical level. Ether has also lost value, down by 2.61%. NFT-related currencies aren’t faring much better either, with Flow down by 4.83% and Decentraland’s MANA down by 4.33%.
- The Russian feminist protest group Pussy Riot has launched an NFT collection. Working alongside Ksti Hu, they developed the 'Proof of Protest' collection to advocate for reproductive rights, with the proceeds directed toward organizations championing this cause.
- Three Arrows Capital is held responsible for Blockchain.com’s loss of a staggering $270 million in loans. As one of the creditors, Blockchain.com was advocating for the liquidation of 3AC to cover incurred losses.
- MMO game Otherside carried out a stress test Measures are being taken to ensure the platform remains stable and playable when players arrive in droves. Countless landholders from Otherdeed have taken part.
- NowHere, an art gallery in SoHo, has kicked off a month-long summer showcase titled 'Metaverse Petshop.' This creative exhibition functions like an 'art pet shop,' allowing visitors to browse artworks and take home a piece that resonates with them.
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