Le Récap: acquisition of Twitter, French metaverse, DOGE moon, NFT royalties …

The France prepare your strategy metaverse; Elon Musk acquires Twitter; DOGE fly away; Google pass the second with Ethereum; The royalties on NFT pay off big, but exasperated … Back tocryptographic news of the week.

Twitteremblematic company of Web2, it is soluble in Web3 ? Under the direction ofElon Muskthe company could accentuate his turn towards these technologies, beyond NFT functionalities. After refusing to approve his takeover of the social network, the extravagant boss has finally taken over the management of Twitter.

The billionaire has never hidden his interest in Web3, even though it sometimes blows hot and cold, as with Bitcoin. Moss is therefore the new owner of Twitterand this thanks to the financial assistance of several companies including Binancethat Changpeng Zhao, the founder of the cryptocurrency exchange, did not fail to mention.

Dogecoin (DOGE) increases after acquisition

For investors, the effect of this transaction was anticipated through the increase in the price of the DOGE. Tesla and SpaceX CEO’s preferred token value has more than doubled following the redemption, registering a gain of more than 100% in 7 days.

Mossto which he does not hide his support Dogecoin, has already influenced the price of the token on several occasions in the past. The capitalization of the DOGE today flirts with 17 billion dollars. A number of investors are hoping that the same angle it will soon be integrated into the social network.

NFT: golden egg flapping hen

The launch of international brands on the market for NFT it is not just for them the opportunity to dive into the Web3. This is also an opportunity to add a new line of income on their balance sheet. Nike it does very well in this regard. Primary sales are also not the main source of revenue. Thanks to royalties applied to secondary salesan average of 6.96% for Nike, the company guarantees a comfortable income.

Crypto-native gamers like it Yuga Labs they are also a resounding success. Galaxy Digital believes the publisher has generated over $ 140 million recipes through its various collections including Bored Ape Yacht Club. And again, these are the royalties which are the most profitable. But in an NFT market that is suffering bear market, this tax levied on the markets seems to be less and less accepted. the zero-fee model advances and moves the lines. LooksRare therefore decided to make this payment optional, compensating (partially?) For the loss of revenue for creators through another revenue sharing model.

Metaverse: France must look beyond the Meta tree

The digital transition minister recently announced that the government will look into the regulation of NFT and DeFi. But he also thinks about his own strategy metaverse. In this context, he had commissioned a report from a trio of authors. They gave their conclusions and recommendations for an effective metaversic strategy.

And the authors of to warn against a distorted view of what the concept of metaverse covers, managed specifically by Meta, which is betting billions of dollars and this week unveiled a metaverse startup accelerator with L’Oréal. They believe that France has resources to offer to stand out in this sector and on the two main axes that they are virtual / augmented reality and the Web3 / blockchain / NFT. These two ecosystems, now quite tight, can be brought together and involved in concrete and large-scale projects. And why not on the occasion of the 2024 Paris Olympics?

Bear effect for a16z, Blockchain.com and Exclusible

The cryptocurrency winter has been hitting the industry for several months. This affects the capitalizations of cryptocurrencies, but also the amount of fundraising and company valuations. Exclusive it hoped to raise 10 million euros. In the end, he got half of this envelope, or 5 million euros.

The effects of bear market do not spare actor. Therefore, the evaluation of Blockchain.com, worth $ 14 billion last spring, could drop to $ 3 billion as part of a new fundraiser. From the part ofa16z, if it has deep pockets, the budget in 2022 is in sharp decline in terms of valuation. The venture capital firm’s flagship crypto fund shows a nearly 50% decline in value in the first half of the year.

Google Cloud: from Coinbase to Ethereum … to get started

According to a16z, the crypto it can “break” the power of Gafam. In terms of capitalization, the giants of Web 2.0 still dominate largely. But Web3 still interests these players for its growth potential. Establishing yourself as a privileged technological partner is therefore not necessarily a wrong calculation. It is the policy of Google which, through its Cloud branch, has joined forces with Coinbase.

With AWS and Microsoft, GCP is one of the dominant platforms in the public cloud market. Google then designs an offer dedicated to decentralized application developers for the network Ethereum. With its Blockchain Node Engine managed service, Google wants to simplify infrastructure management to allow them to focus on their core business and their users.

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