LensLinks: Issue 8

A blockchain news roundup, brought to you by Regiment LLC

Author

Len Pacek
October 13, 2022

Today in LensLinks:

  • 101: Sandbox vs. Decentraland

  • "Explosive Volatility" Possible Soon

  • $1.3B in Q3 for Blockchain & Metaverse Games!

  • You think you had a bad week - The Metaverse

  • Top DeFi Tokens Plunge

  • Crypto Hackers back from Summer Vacations?

  • And Much, Much More...

QUOTABLE...

“I view the current open interest as well blown above any levels that may be assessed as sustainable, opaqueness from market signals restricts me from having any directional view on the winddown of said leverage.”

- Arcane Research analyst Vetle Lunde

NOTABLE...

Blockchain games and metaverse projects raised $1.3B in Q3: DappRadar

Venture capital is pouring billions into blockchain gaming and metaverse projects despite the bear market.

https://cointelegraph.com/news/blockchain-games-and-metaverse-projects-raised-1-3b-in-q3-dappradar

The blockchain gaming sector remains active in terms of adoption and venture capital firms have taken notice, according to industry data.

Looking at blockchain gaming specifically, the report showed that underlying industry activity was still growing despite the bear market. The number of unique active wallets participating in blockchain games increased by 8% month-over-month in September to 912,000. DappRadar said that Web3 games “continue to be a driving force for the dapp industry,” accounting for nearly half of all blockchain activity across 50 networks tracked by the firm.

 Metaverse & Gaming

The Metaverse Has Had a Very Bad Week - IGN

It's been nearly a year since Facebook rebranded itself to Meta, and founder Mark Zuckerberg and the company are facing serious doubts from the public, media, and some of their own employees about the future of their focus on the Metaverse.

https://www.ign.com/articles/the-metaverse-has-had-a-very-bad-week

Just yesterday, Meta officially revealed its new Meta Quest Pro VR headset. The premium rig will cost early adopters $1499.99, and the headset was designed specifically with work in mind, rather than gaming. And as Zuckerberg shared with The Verge, Meta is targeting people who routinely upgrade their PC to instead opt for the Quest Pro, saying "Basically, this is a step toward all 200 million of those people who get new PCs every year starting to instead do some of the work in VR, in addition to all the folks who are gaming, hanging out socially, etc."

 Blockchain, Tokens & DeFi

Sushi, Lido Finance Drop 10% as Top DeFi Tokens Plunge - Decrypt

Over the past 24 hours, tokens underpinning popular DeFi protocols like SushiSwap and Lido Finance have taken a battering.

https://decrypt.co/111844/sushi-lido-finance-drop-top-defi-tokens-plunge

It's blood red in the world of DeFi on Thursday morning.

Tokens backing decentralized finance protocols including SushiSwap, Lido Finance, Curve, and Uniswap have all plummeted over the past day, according to data from CoinGecko.

Crypto Trading

Crypto Prime Brokerage FalconX Unveils Risk-Management Platform for Institutional Clients

FalconX 360 seeks to make risk management and liquidity visibility more accessible for institutional crypto investors.

https://www.coindesk.com/business/2022/10/13/crypto-trading-firm-falconx-debuts-risk-management-platform-for-institutional-clients/

FalconX has launched a risk-management platform for institutional clients in order to offer cross-margin capabilities and broader liquidity access.

The goal of the product, which is called Dubbed FalconX 360, is to combine liquidity, visibility and risk management.

Fragmentation across crypto trading platforms and exchanges creates challenges for clients who cannot get a unified look at their assets and liabilities, Samir Ghosh, FalconX’s head of product, told CoinDesk.

Metaverse & Gaming - A Little More...

Sandbox vs. Decentraland [2022]: Metaverses Come in Different Sizes

Comparing Sandbox versus Decentraland reveals that Sandbox is bigger and offers more affordable plots of land.

https://finance.yahoo.com/news/sandbox-vs-decentraland-2022-metaverses-151533668.html

Bain predicts gaming will grow 50% to $300 billion in 5 years

Interested in learning what's next for the gaming industry? Join gaming executives to discuss emerging parts of the industry this October at GamesBeat Summit Next. Register today. Bain & Company predicted that the game industry’s global revenue could grow by more than 50% over the next five years to $300 billion. In a new research […]

https://venturebeat.com/games/bain-predicts-gaming-will-grow-50-to-300-billion-in-5-years/

The SEC vs The Metaverse

Bored Ape Yacht Club and Otherside creator Yuga Labs is reportedly under SEC investigation, but NFTs and metaverse projects may need new regulatory frameworks.

https://www.financemagnates.com/cryptocurrency/the-sec-vs-the-metaverse/

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

The Crypto Report: Ethereum fails to sustain support while Bitcoin sees moderate losses

Ethereum seems unable to break through the key US$1,300 barrier, instead shedding another percent this Thursday morning, dragging its price...

https://www.proactiveinvestors.com/companies/news/995303/the-crypto-report-ethereum-fails-to-sustain-support-while-bitcoin-sees-moderate-losses-995303.html

Crypto Hacks Fuel Memes of North Korea: Blockchain’s Biggest Baddie

"Funding secured for next missile launch."

https://www.coindesk.com/business/2022/10/12/crypto-hacks-fuel-memes-of-north-korea-blockchains-biggest-baddie/

Stolen Crypto Total Hits $3B as Hackers Reemerge After Quiet Summer: Chainalysis - Decrypt

Theft and exploits dipped with markets over the summer. Now, hacker activity has spiked again, according to Chainalysis.

https://decrypt.co/111876/stolen-crypto-total-hits-3b-hackers-reemerge-after-quiet-summer-chainalysis

Crypto Trading - A Little More...

Crypto markets to see ‘explosive volatility’ soon: Arcane Research

After weeks of low volatility, cryptocurrencies like Bitcoin are likely to see sharp price changes in the short term and the medium term, according to one analyst.

https://cointelegraph.com/news/crypto-markets-to-see-explosive-volatility-soon-arcane-research

Crypto Trader DonAlt Posts Bitcoin Price Prediction - 'I'm Buying Now'

DonAlt (@CryptoDonAlt) shared a new Bitcoin price prediction today to Twitter and YouTube, where he has a combined 469,000 followers.

https://cryptonews.com/news/crypto-trader-donalt-bitcoin-price-prediction-buy-now.htm

'It's a very big deal': Coinsquare gets IIROC approval in crypto world first

Coinsquare has also been approved to operate an Automated Trading System, allowing it to facilitate trading in illiquid coins.

https://sports.yahoo.com/its-a-very-big-deal-coinsquare-gets-iiroc-approval-in-crypto-world-first-143024756.html

ESG (Environment, Social & Governance)

Celebrity Crypto Fines Flag Lessons for Lawyers

The Securities and Exchange Commission’s recent $1.26 million settlement with Kim Kardashian holds lessons for other influencers and their attorneys, say Norton Rose Fulbright’s Susan Ross and Paul Guirguis. They lay out SEC and FTC rules and guidance governing celebrity endorsements of cryptocurrency and other digital currency assets.

https://news.bloomberglaw.com/esg/celebrity-crypto-fines-flag-lessons-for-lawyers

Differences Between FTC and SEC Rules

The FTC’s Endorsement Guides simply require a disclosure of a “material connection” between the endorser and the company or product. Violations of the guides can lead to a civil action by the FTC for violation of Section 5 of the FTC Act. These actions typically result in consent agreements where the defendants agree to injunctions and ongoing audits for 10 or 20 years.

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.