The Metaverse Daily for July 11, 2022
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- Let’s tackle DeFi news first. The price of the Metaverse Index has experienced an even more significant drop over the weekend, falling from $40.46 to $37.57. The cost of Bluechip NFT Index has continued growing and has reached 34.33 ETH, while the Metaverse Land Index has seen a price drop and is now trading at 1.82 ETH.
- Cryptocurrencies are in the red and have seen price decreases over the weekend. Bitcoin remains over the $20k mark, but with the 3.20% price decrease, it’s edging towards this barrier. Ether is also down by 2.61%. The NFT-related coins aren’t doing much better, with Flow down by 4.83% and Decentraland’s MANA down by 4.33%.
- The Russian feminist protest collective Pussy Riot launches an NFT collection. In collaboration with Ksti Hu, the collective created the “Proof of Protest” collection to support reproductive rights; the proceeds from the sale will go towards organizations supporting the cause.
- Three Arrows Capital is accountable for Blockchain.com’s loss of a staggering $270 million in loans. Blockchain.com was one of the creditors pushing for 3As liquidation to make up the losses.
- MMO game Otherside carried out a stress test of the platform to ensure the platform doesn’t collapse and become unplayable when players begin coming in throws. Otherdeed landholders participated in thousands.
- SoHo art gallery NowHere has opened a month-long summer exhibition, “Metaverse Petshop.” The exhibition is akin to “a petshop for art” as visitors can: “Stop in, browse, and pick something to come home and live with you.”
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