PayPal Considers Itemizing Ethereum, Polkadot, Solana, Algorand, and NFTs
2021 has been an fascinating yr for crypto adoption, with many FinTechs racing in the direction of full crypto integration. PayPal has been on the forefront, increasing its providers to incorporate crypto purchases and funds.
Staying true to its promise of accelerating its crypto choices, PayPal is now actively monitoring new L1 and L2 platforms. Paypal’s senior vice chairman, Jose Fernandez, acknowledged;
“I am positive that for those who ask me six weeks from now I may offer you 4 or 5 completely different names. That is how thrilling it’s.”
Fernandez famous that Ethereum, Polkadot, Solana, and Algorand are a few of the high L1 and L2 blockchains, including that PayPal has not listed a stablecoin on its platform as a result of they haven’t seen any purpose-built stablecoins for funds.
By integrating extra cryptocurrencies and NFTs, PayPal may play an vital position in bringing crypto to the plenty.
A Nikeland Metaverse is Coming, the Sandbox Jumps to new ATH, TIME Journal to Educate Folks on the Metaverse
Since Fb’s company rebrand to Meta, we’ve seen extra megacorporations indicating their curiosity in creating digital worlds. Becoming a member of the metaverse race, Sports activities big Nike has introduced a partnership with Roblox.
Teaming up with gaming firm Roblox, Nike plans to create a metaverse named “Nikeland.” Within the digital world, customers will be capable of costume their avatars in Nike-branded attire and sneakers.
The frenzy has pushed metaverse platform “The Sandbox (SAND),” to huge features. Whereas the remainder of the crypto market is essentially correcting, SAND has gained greater than 65% over the past week. SAND has now crossed the $4 mark, setting a brand new all-time excessive of $4.68 within the course of.
The seven day value chart for The Sandbox (SAND). Supply: Tradingview
As the hunt for the metaverse intensifies, TIME Journal has partnered with Galaxy Digital to coach readers concerning the digital world. TIME has introduced that it’s going to launch the TIME100 Firms Metaverse class, which can function builders within the metaverse.
With the rising curiosity in VR, the metaverse will almost definitely grow to be a major a part of our lives within the subsequent 3-5 years.
‘DeFi’ Scams and Thefts Have Hit $10 Billion in 2021
The Decentralized Finance (DeFi) sector has exploded in 2021, with more cash being pumped into DeFi protocols than ever earlier than. On November ninth, the TVL in DeFi reached a brand new peak of $275 billion, now at $250 billion, as of this writing.
The increase of the DeFi sector additionally served to show some vulnerabilities in DeFi protocols, with the likes of Cream Finance, DAO Maker, Poly Community, and Yearn Finance all being exploited in 2021.
In keeping with a brand new report, the degrees of fraud and theft recorded to date in DeFi in 2021 has hit $10.5 billion, greater than 7x the quantity recorded in 2020. In keeping with London-based blockchain analytics agency Elliptic, bugs within the code and design flaws enable criminals to focus on DeFi websites.
Tom Robinson, an analyst at Elliptic acknowledged;
“Decentralized apps are designed to be trustless in that they remove any third-party management of customers’ funds. However you should nonetheless belief that the creators of the protocol haven’t made a coding or design mistake that might result in a lack of funds.”
Whereas the DeFi sector has excessive prospects, protocols have to work on their vulnerabilities earlier than mainstream adoption may be thought-about possible.
Bitcoin Miner, Bitdeer, to Go Public After $4 Billion SPAC Merger Deal
On Thursday, main cryptocurrency mining firm, Bitdeer Applied sciences, introduced its merger with particular goal acquisition firm (SPAC) Blue Safari Group Acquisition Corp.
The deal will see Bitdeer, which presently operates 5 mining information facilities within the U.S. and Norway, on the receiving finish of $4 billion. Bitdeer is the primary mining agency to succeed in a 1TB hashrate capability base charge, with the deal anticipated to be closed within the first quarter of 2022.
In keeping with Cision PR Newswire, the corporate might be publicly listed on Nasdaq with a to-be-announced ticker. The merger might be often called Bitdeer Applied sciences Group and stay listed on Nasdaq.
Bitdeer has revealed that the deal will assist the corporate present extra revolutionary, dependable, and easy-to-use cryptocurrency mining options.
NFT Pirate Bay Hits 1.2 Million Customers, NFTs are Exploitive – Microsoft’s Exec
In 2021, the distinctive non-fungible token (NFT) market has grown by leaps and bounds, turning into one among at the moment’s most talked about matters. Highlighting the sector’s progress, The NFT Bay, a brand new on-line repository of NFTs, was launched on Thursday, solely to get greater than 1.2 million visits inside 10 hours.
The NFT Bay was launched by software program developer Geoffrey Huntley, with 17.96-terabyte archived NFT picture copies. In keeping with the NFT skeptic, the archive is “an academic artwork undertaking” that might assist folks buy NFTs.
Whereas there are differing views on the worth positioned on NFTs, they’ve revolutionized how digital artwork is perceived.