The Metaverse Daily for July 6, 2022
Here's your recap of the key stories making headlines over the last day.
- Let’s have a look at some DeFi data The Metaverse Index has witnessed a slight decline since yesterday, now trading around $36.76. On the other hand, the Bluechip NFT has seen a drastic drop, now priced at 21.91 ETH, shedding almost a third of its value in just one night. As the crypto winter persists, OpenSea transactions are also on a steady downward trend.
- Cryptocurrencies are still unstable The market is particularly volatile, with the prices for many cryptocurrencies fluctuating widely. For instance, Bitcoin surged by $2,600 overnight before crashing back down, currently sitting at $20,135.48. In another development, Decentraland’s MANA has taken the lead as the top cryptocurrency in the metaverse segment based on market capitalization, surpassing Flow.
- RTFKT Studios releases new utilities For holders of Clone X NFTs, great news arrived on July 5: they were granted full commercial rights for their avatars. This unlocks access to 3D files online, allowing them to create fan art NFTs, produce merchandise, and seek out revenue opportunities.
- Despite its regulatory stance on cryptocurrencies, China’s technology giant Tencent is venturing into the NFT space. Major Chinese enterprises like Tencent, Ant Group, and Alibaba have committed to steering clear of cryptos, yet NFTs—which are referred to as 'digital collectibles'—are classified as a form of 'digital cultural creativity' in China.
- Ethereum has decided to postpone the merge that would align the Beacon Chain at the consensus level with the Mainnet at the execution level until the fall. The developers have officially rescheduled Ethereum’s built-in 'difficulty bomb,' a mechanism intended to prevent a split in the blockchain.
- Decentraland has teamed up with Lickd, a pre-licensed music platform, to develop soundscapes for Vegas City. This partnership will also include the creation of custom playlists and radio stations.
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