Market Update (Week 46, 15/11/2021 – 21/11/2021)

Key Takeaways Following an agreement with Crypto.com, the Staples Center, the home of the Los Angeles Lakers, will be renamed ‘Crypto.com Arena’ next month. The 20-year naming rights agreement would go into effect on December 25. El Salvador is set to inaugurate Bitcoin City backed by $1B BTC bonds. The development of Bitcoin City will […]

Nov 22, 2021

Key Takeaways


Highlights


Notable events

Polygon network announced the launch of an advanced Zero Knowledge-based scaling solution that could potentially solve Ethereum’s (ETH) network congestion. Polygon’s Miden virtual machine will offer faster validation as it improves the efficiency of the MATIC network. (ref)
A new debate in the EOS community has emerged over B1’s share of the EOS token supply. A group representing the EOS community wants to delete vested tokens held by Block.one, claiming the team failed to deliver on promises. (ref)
This week, members of the Tezos (XTZ) community came together, spearheaded by DNS, to revive the HEN platform. The HEN platform was widely utilised as the leading Tezos NFT marketplace, but was previously shut down abruptly. (ref)


Notable events

The financial platform Universal Market Access (UMA) has recently launched its ‘Across Protocol’ which is claimed to be one of the ‘fastest, cheapest, and most secure’ bridges between L1 to L2. (ref)

In light of the recent report by President Joe Biden’s Working Group on Financial Markets, the founder of MakerDAO (MKR) Rune Christensen regards 2022 to be a rough year for stablecoins. In an ‘Ask Me Anything’ session on Reddit, the founder advised users to ‘be ready for the worst’ in terms of stablecoin regulation. (ref)
Notable events
The Enjin (ENJ) crypto is viewed as a mainstay in the burgeoning metaverse industry. Enjin has also announced the name of its metaverse: Efinity. (ref)
Sandbox (SAND) Metaverse Alpha is about to launch on Nov. 29 after four years in development. A select group of just 5,000 users will have the chance to earn up to 1,000 SAND and three exclusive NFTs via time spent across 18 experiences developed by The Sandbox teams. (ref)
Yield Guild Games (YGG) recently revealed that it had backed eight games with ‘strong play-to-earn models’, including Influence, CyBall, Thetan Arena, KOGs SLAM!, MOBOX, Aavegotchi, DeHorizon, and Genopets. (ref)

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