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Digital asset investment firms poured $2.7 billion into decentralized finance projects in 2022, up 190% from 2021, while investments into centralized finance projects went the other way — falling 73% to $4.3 billion over the same timeframe. The staggering rise in DeFi funding was despite overall crypto funding figures falling from $31.92 billion in 2021 to $18.25 billion in 2022 as the market shifted from bull to bear. According to a March 1 report from CoinGecko, citing data from DefiLlama, the figures “potentially points to DeFi as the new high growth area for the crypto industry.” The report says that…

Web3 gaming is a revolutionary form of online gaming that leverages decentralized technologies to provide a secure, transparent, and immersive experience. By utilizing blockchain technology, web3 gaming offers gamers the ability to truly own their digital assets, control their in-game economies and create new virtual worlds with unprecedented levels of trust and security.In addition, developers have the opportunity to create innovative games that offer unparalleled experiences while enabling users to benefit from true ownership over their digital items. This emerging technology has already begun disrupting traditional models of game design, allowing players to explore new worlds without compromising on security…

Blockchain According to Matt Hamilton, these private versions of the XRP Ledger are still in development and are not live yet. According to a recent tweet, Ripple is currently working on deploying private blockchains of the XRP Ledger (XRPL) code to be used by central banks in developing Central Bank Digital Currencies (CBDCs) and other similar use cases from Matt Hamilton, a former Principal Developer Advocate at Ripple Labs. Yes, Ripple is working on deploying private versions of the XRP Ledger code for CBDCs and the likes. As far as I know, they are not live yet (the federation code…

Crypto exchange Binance sought to hire Gary Gensler as an adviser before he became chairman of the United States Securities and Exchange Commission, according to a Wall Street Journal report based on messages and documents from 2018 and 2020, as well as interviews with former employees. Gensler, the former chairman of the Commodity Futures Trading Commission, was approached by the crypto firm in 2018 and 2019 while he was teaching at the Massachusetts Institute of Technology, the Journal reported.Messages from Binance’s executives seen by the newspaper indicate that Ella Zhang, then head of Binance’s venture investing arm, and Harry Zhou, co-founder…

Overview The constraint of Ethereum network performance has given rise to a number of Layer 2 extension alternatives, with the Rollup solution leading the overall growth track. Ethereum is commonly considered a single blockchain network with three functional layers: data availability and consensus layer, settlement layer, and execution layer. Because of the restricted block space, operating all functional layers in a single block takes a lot of chain resources, resulting in network congestion and an increase in chain gas prices. Rollup is a modular extension solution that splits the execution layer from the single blockchain, off-chains difficult computations, and then…

Blockchain Banks in Pakistan plan to launch an electronic platform for know-your-customer procedures that will be operating on a national level. The blockchain-based system will allow them to exchange the personal information of customers through what they describe as a decentralized and self-regulated network. Banks of Pakistan Looking to Employ Blockchain for KYC Checks Pakistan Banks’ Association (PBA) has signed a contract for the implementation of a blockchain-based know-your-customer (KYC) platform which will be developed by Avanza Group. The latter unites companies specializing in advanced banking applications, customer experience management solutions, blockchain, and artificial intelligence. The signing ceremony was held…

The co-founder of the content studio Bankless, David Hoffman, has apologized for spreading rumors about what he called a “Wells notice carpet bombing” targeting crypto firms, including the decentralized finance protocol Lido Finance. The “carpet bombing” was a reference to a flood of Wells notices that Hoffman said a source told him were sent to crypto firms last week. He shared the unverified information during the Bankless Show podcast on March 3.“Many Wells notices have been issued to many of the DeFi apps. […] Wells notices have got shot out across the industry in the last week. It has not come to…

NFT On March 6, the OKXNFT marketplace has officially public the new NFT Collection. The first Bitcoin Ordinal NFT collection has been released, as was recently announced by OKXNFT maketplace. For placing orders or trading BTCNFT, you can use ETH or any other ERC20 coin. OKX has said that the BTCNFT that is listed is a genuine NFT that has been validated by OKX. OKX has also stated that an item may be withdrawn to the BTC wallet by using EmblemVault. The Collection has a floor price of 1.09 ETH and comprises 3,500 items. At this time, the collection has…

NFT Key Points: The auction for TwelveFold has begun and will conclude on the block immediately prior to 3pm PT tomorrow, March 6th, 2023. Good luck.https://t.co/gvl8IHpekC pic.twitter.com/xGWU9jdCoO — Yuga Labs (@yugalabs) March 5, 2023 Out of 300 NFTs launched, 288 were sold as a 24-hour auction, and the rest went to project and charity contributors. Results will be based on the last Bitcoin block before 3:00 pm on March 6. If the previous block occurs at 2:57 pm that day, any bids after that will be ignored even if they were submitted beforehand. There are currently no guidelines and starting…

American rapper and actor Snoop Dogg has been revealed as one of the co-founders of a Web3-powered live streaming app called “Shiller” — adding to yet another Web3 partnership fothe well-known hip-hop artist. The app is described as a “live broadcast platform” that aims to combine Web3 technology with real-time live-streaming content. The rap star has been named as a co-founder of the app, along with technology entrepreneur Sam Jones.Get ready for the Web3 live stream revolution! Say goodbye to the middlemen and hello to true creator empowerment with Shiller! Apply now https://t.co/w43RvAGN3t pic.twitter.com/YV9H2Wa5LF— Shiller (@shiller) February 11, 2023 It follows a…