LensLinks - Issue 9

A blockchain news roundup, brought to you by Regiment LLC

Author

Len Pacek
October 14, 2022

Today in LensLinks:

  • NFT Mania fading?

  • Bitcoin as an inflation hedge?

  • NFT games are ‘only scratching the surface’ of what's possible — Animoca’s Yat Siu

  • 101: Smart Contracts: Past, Present and Future

  • Is a retail investor definition coming?

  • And Much, Much, More...

QUOTABLE... 

 “The fading NFT mania is part of a wider, $2 trillion wipeout in the crypto sector as rapidly tightening monetary policy starves speculative assets of investment flows” 

- Bloomberg

NOTABLE...  

Barely halfway and October already the biggest month in crypto hacks: Finance Redefined

Blockchain analytics firm Chainalysis has labeled October 2022 as “the biggest month in the biggest year ever for hacking activity,” with the total hacked value for the month nearly reaching $718 million.

https://cointelegraph.com/news/barely-halfway-and-october-already-the-biggest-month-in-crypto-hacks-finance-redefined

October is historically associated with the bulls, but in 2022, the month has also become the leader in crypto hacks as barely halfway through, and the DeFi ecosystem has already seen nearly a dozen hacks resulting in losses of hundreds of millions of dollars.

The largest hack occurred on Solana’s DeFi platform Mango Markets on Oct. 11, resulting in a loss of over $100 million worth of crypto. The hacker has now come out to demand $70 million in USD Coin.

 Metaverse & Gaming

Japanese Gaming Giant Konami to Launch Web3 and Metaverse Initiative

Japanese video game giant Konami has announced plans to launch a marketplace for trading in-game NFTs.

https://cryptonews.com/news/japanese-gaming-giant-konami-launch-web3-metaverse-initiative.htm

The entertainment conglomerate also unveiled that it is looking to add new talent and will recruit a “wide range of talent for system construction and service development to provide new experiences such as Web3 and Metaverse,” Konami said in a Thursday blog post. 

The gaming giant claimed that they have been researching how to integrate the latest innovations into games, adding that one of its main products will be a marketplace for trading in-game NFTs. 

 Blockchain, Tokens & DeFi

Algorand DeFi Is Booming. Here's Why

The total value locked in Algorand DeFi applications has received a boost this week after Hivemind announced a $25 million allocation.

https://cryptobriefing.com/algorand-defi-booming-heres-why/

Key Takeaways

  • Liquidity is flooding into Algorand's DeFi ecosystem. The total value locked on Algorand hit $270 million for the first time today.

  • Hivemind Capital deployed $25 million worth of capital in Algorand DeFi, giving the ecosystem a liquidity injection.

  • Several other catalysts have helped Algorand boom ahead of other projects, but the rise may be shortlived due to the macro climate.

 Crypto Trading

First Mover Asia: Crypto Trading Firm Amber CEO Argues Bitcoin Can Still Be an Inflation Hedge; Cryptos' Surprising Rebound

Michael Wu says bitcoin offers “a better form” of storing value than any previous type of asset and ether provides great value as a “tech infrastructure investment.”

https://www.coindesk.com/markets/2022/10/14/first-mover-asia-crypto-trading-firm-amber-ceo-argues-bitcoin-can-still-be-an-inflation-hedge-cryptos-surprising-rebound/

Here’s what’s happening:

Prices: Bitcoin and other major cryptos were holding the same range they'd occupied prior to the latest inflation figures.

Insights: The CEO of crypto trading firm Amber says there's no better asset for holding value than bitcoin.

Metaverse & Gaming - A Little More...

Open 3D Engine Talks Metaverse and Its New Partner, Epic Games

In advance of O3DCON next week, we spoke with The Linux Foundation's Royal O’Brien about why open source is needed in metaverse development.

https://thenewstack.io/open-3d-engine-talks-metaverse-and-its-new-partner-epic-games/

NFT games are ‘only scratching the surface’ of what's possible — Animoca’s Yat Siu

Yat Siu noted that while NFT games have a long way to go, many users are happy to accept user experience issues as they understand the significance of digital ownership in games.

https://cointelegraph.com/news/nft-games-are-only-scratching-the-surface-of-what-s-possible-animoca-s-yat-siu

Blockchain, Tokens & Defi - A Little More...

Smart Contract Platforms: Past, Present and Future

A brief overview of smart contract platform use cases and the potential for investment.

https://www.coindesk.com/layer2/2022/10/14/smart-contract-platforms-past-present-and-future/

Cryptocurrency Market Size and Metaverse Token Project 2022

How big is the cryptocurrency market? Cryptocurrency markets are notoriously

https://www.theweek.in/news/biz-tech/2022/10/14/cryptocurrency-market-size-and-metaverse-token-project-2022.html

Crypto Trading - A Little More...

Crypto Trading Firm NYDIG Lays Off About 33% of Staff

The layoffs had been going on for "several weeks," one person told CoinDesk.

https://www.coindesk.com/business/2022/10/14/crypto-trading-firm-nydig-lays-off-about-33-of-staff/

CFTC Commissioner to Pitch Retail Investor Definition to Get Set for Crypto

Commissioner Christy Goldsmith Romero says the agency needs a new way of categorizing investors as it prepares for new digital-assets oversight.

https://www.coindesk.com/policy/2022/10/14/cftc-commissioner-to-pitch-retail-investor-definition-to-get-set-for-crypto/

Blockchain​.com closes crypto custody for Russians amid EU sanctions

Blockchain.com has reportedly notified its users that it’s going to shut down accounts of Russian nationals in a few weeks.

https://cointelegraph.com/news/blockchain-com-closes-crypto-custody-for-russians-amid-eu-sanctions

 ESG (Environment, Social & Governance)

Rubix, A Green Blockchain, Announces First of Its Kind Virtual Hackathon

Rubix, A Green Blockchain, Announces First of Its Kind Virtual Hackathon

https://www.businesswireindia.com/rubix-a-green-blockchain-announces-first-of-its-kind-virtual-hackathon-81225.html

Disclaimer: This note is distributed by Regiment, LLC for informational purposes only and is sourced from publicly available media reports.  It is not an investment recommendation or solicitation for any investment.  The information is current as of date and subject to change. In such case Regiment, LLC does not undertake to provide any updates.  Recipients must be aware that any private, alternative investments discussed are speculative in nature, often illiquid, and subject to loss of capital.