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Weekly update: Crypto Snapshot

Weekly update: Crypto Snapshot
Brought to you by DWF Labs, the global digital asset market maker and multi-stage web3 investment firm.

BNB Chain hosts its first Web3 hackathon in collaboration with DWF Labs, FactBlock and Certik

BNB Chain launched its flagship in-person Web3 Innovation hackathon in South Korea, and DWF Labs joined as one of the track sponsors where winners of the hackathon will be able to pitch to top-tier venture capital firms. The event aimed to connect leaders from around the world to boost innovation in the decentralized space, and it took place from 17th to 19th December in Seoul.

Axelar launches its own startup ecosystem program

The Axelar blockchain network has launched an initiative known as the Axelar Ecosystem Startup Funding Program which aims to foster the development of Web3 applications. Projects that apply for the initiative must incorporate security and privacy as part of their vision, and allow users to onboard into the ecosystem easily.

Whales accumulate $726 million In Bitcoin

Analytics company Santiment reports that about 159 new Bitcoin addresses are accumulating between 100 to 10,000 BTC tokens in total, and they have been growing their asset holdings in the past few weeks. This is also one of the most rapid growth in asset accumulation since the start of 2022, and the current value of the purchased BTC is worth over $726 million.

Bank of International Settlements Allow Banks To Hold 2% In Cryptocurrencies

The Bank of International Settlements now permits banks to now hold 2% of their reserves in cryptocurrencies, after a second consultation on the regulation of banks’ exposure to crypto assets. The assets are split into two groups, with the first being tokenized traditional and digital assets, while the second is digital assets that do not fall into any category.

Amazon dives into the global impact of NFTs with its new series

Amazon’s new documentary series, ‘NFTMe’, explores the impact of non-fungible tokens (NFT) in today’s digital world, and how large brands are using NFTs to interact with new audiences. At the same time, the show aims to explore the journey through the lives of different people to understand how they have fused art and technology with NFTs.

Pi Network and Aptos announce new hackathon for January

Pi Network and Aptos Network have announced new hackathons around their networks, with the former launching its hackathon in January and the latter in February. Both events aim to build utility within their ecosystems by inviting development teams and engineers to participate in the hackathons. While Pi Network has yet to announce the location of the hackathon, Aptos is looking to hold theirs in South Korea.

High net-worth investors continue to seek access to crypto

A study carried out by Coalition Greenwich asked financial advisors of high net-worth clients about having cryptocurrencies in their portfolios. In the study, 92% of their customers have asked about adding it to their portfolio, while 30% confirmed that they plan to recommend specific cryptos to their clients in the next three months.

What makes a successful GameFi project? The Web3 community shares their tips

As GameFi continues to attract gamers, community members share their thoughts on what makes a GameFi project successful. Some suggest that the games should appeal to several target audiences, and others believe the project must make its token relevant for gamers. A recent survey showed that some gamers are willing to play more blockchain games if they can earn cryptocurrency while playing.

NFT is the new zeitgeist with Asia taking the lead, says Huobi in its latest report

The latest report by cryptocurrency exchange Huobi commented on trends that touched on diverse Web3 spaces such as NFTs and centralized exchanges. Some main findings of the report indicate that Asia leads in terms of NFT interest, and over 100 regulations have been issued for the crypto industry.

Web3 games win big at the inaugural GAM3 awards

Polkastarter Gaming hosted the Web3 GAM3 Awards which judged blockchain games on criteria such as core loop, graphics, accessibility, replayability factor, fun elements, and overall playing experience.

The event was sponsored by popular Gamefi projects like Immutable X and Blockchain Game Alliance, and games like Illuvium and Gods Unchained were among the selected winners for the awards event.

Warner Music Group push into the Metaverse With Digital Fashion Startup DressX

Warner Music Group has partnered with digital company DressX which creates digital fashion wearables both on and off the blockchain. Warner Music artistes will be able to create digital merchandise for their fans which come in the form of 3D avatar wearables or augmented reality virtual clothing, and they can be viewed on different platforms like Instagram.

Disclaimer: This article should not be taken as financial advice. It is essential to conduct research before making any investment decisions.

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