The cryptocurrency market continues to gather strength as we approach the end of the year. As global adoption increases, projects are opening up new areas for themselves. For example, Augmented Reality (AR) platform Really has announced an ambitious plan to leverage Avalanche’s (AVAX) fast and scalable Blockchain technology. Elsewhere, Cardano is teaming up with Brazil’s state-owned energy company Petrobras. We have compiled the hottest developments in the crypto world for our readers.
Hot developments for AVAX, ADA, SHIB, SOL and more…
Solana leaves Spotify and Electronic Arts behind
Solana (SOL) increased by a staggering $4.8 billion in 24 hours, leaving behind industry giants Spotify and Electronic Arts. Thus, it has secured its place as the fifth largest cryptocurrency. Solana stunned the cryptocurrency market with its performance today. In this move, SOL increased its market value beyond the $37 billion milestone. Additionally, Solana placed 5th in the crypto league, flipping established players like Ripple (XRP).
As of now, SOL is trading above $86 per token. With his latest move, he is prompting influential figures in the crypto space such as Arthur Hayes to make bullish predictions. Hayes and others are fervently predicting that Solana will soon surpass the triple-digit price threshold.
Polkadot on-chain registered transactions explode
Polkadot (DOT) is experiencing a massive transaction boom, which is considered an unprecedented move in the protocol. According to on-chain data, Polkadot’s daily transactions exceeded the 1,000,000 benchmark. Thus, it reached a historical peak for the layer-1 Blockchain network. Before this big boom, the highest number of recorded transactions Polkadot witnessed was 941,000 transactions on May 5, 2021. This previous transaction leap emerged as a natural embrace of Blockchain. However, this current explosion stems specifically from the emergence of Inscriptions.
Inscriptions started this year with the Bitcoin (BTC) Blockchain. These form the basis for creating digital collections recorded on the smallest bits of the Blockchain. When they emerged, they caused a significant jump in the number of transactions and miner revenue for Bitcoin. This innovation based on Ordinals has begun to spread to other mainstream L1s, including Litecoin.
Shiba Inu started the domain with D3, Viction continued!
The Shiba Inu (SHIB) ecosystem will have its own top-level domains with the launch of the new collaboration. During ICANN’s upcoming application window, two Blockchain ecosystems will claim their own domain regions. Decentralized networks, along with industry innovators from D3, Shiba Inu (SHIB) and Viction (formerly TomoChain), will launch DNS alternatives for their communities.
cryptokoin.comAs you follow from , D3 Global, a cutting-edge domain platform developing interoperable digital identities, announced a strategic collaboration with Shiba Inu (SHIB) and Viction (VIC) Blockchains. It is possible for two teams to apply for the .shib and .vic top-level domains (TLDs). So, they will get these domain names.
Really launches integration with Avalanche (AVAX) Blockchain
Really, an Augmented Reality (AR) platform synonymous with enhancing cinematic experiences, has announced an ambitious plan to leverage Avalanche’s (AVAX) fast and scalable Blockchain technology. This innovative integration aims to elevate AR experiences for theatrical releases. It also aims to transform fan engagement on a global scale.
Using Avalanche’s (AVAX) Blockchain, Really will offer studios, brands, and theater partners new ways to captivate audiences worldwide. This integration marks a significant milestone in combining Web3 technology with entertainment. It also promises a new era of immersive and interactive experiences for moviegoers.
Worldcoin discontinues Orb services in India, Brazil and France
Surprisingly, Worldcoin, founded by OpenAI CEO Sam Altman, abruptly stopped its Orb verification services in India, Brazil and France. The crypto startup’s unexpected retreat comes just months after the massive global rollout of its helmet-shaped eyeball scanning device. It has also raised eyebrows and speculation about regulatory challenges in key markets.
Although pop-up kiosks have opened up and made a splash, the sudden withdrawal from key markets is prompting scrutiny of potential regulatory hurdles. Tools for Humanity, the foundation overseeing Worldcoin’s development, announced that Orb’s expansion was initially designed for “limited-time access” in various markets, TechCrunch reported. Meanwhile, a spokesperson, Lily Gordon, emphasized Worldcoin’s commitment to meeting regulatory requirements globally. Despite Orb’s withdrawal, Gordon stated that Worldcoin remains committed to providing a safe and transparent service for verified individuals.
Cardano is collaborating with Petrobras
Cardano is collaborating with Brazil’s state-owned energy company Petrobras. As a result of the collaboration, the first project will lead Blockchain training workshops for employees of the Brazilian organization. Participants in the program will have the opportunity to learn about the features of the cryptocurrency industry, discuss the potential of Blockchain and complete “interactive quizzes” on related topics. The Cardano Foundation has already held two workshops in the Metaverse. One of them focused on regulations from a global perspective and in Brazil’s region.
Headquartered in Rio de Janeiro, Petrobras is among the largest companies in Latin America, with more than 45,000 employees and annual revenue of approximately $125 billion (for 2022). Employees who complete Cardano’s training program will receive a special certificate. The project will also give the first 500 participants NFTs highlighting their achievements.
Nifty Island launches its native token ISLAND
Nifty Island, an open social metaverse gaming platform developed by Nyft Studio, announced the launch of its native token ISLAND on December 21. Distribution of the token will not be through minting or pre-sale. The project will distribute through Play-to-Airdrop (P2A) events. Thus, Nifty Island aims to increase user engagement and interaction. Meanwhile, the token distribution event will start on January 17, 2024.
Nifty Island aims to create a community-driven metaverse into which digital assets can be integrated. Upon joining, each user will receive a unique name and a customizable avatar to join the game, display, collect and trade NFTs. Additionally, he/she will be eligible for rewards for contributing content to the gaming world.
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